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TOP NEWS IN BANKING & FINANCIAL SERVICES
* Adani Capital Pvt. Ltd. Managing Director and CEO Gaurav Gupta said the Indian firm is planning to raise at least 15 billion rupees in an initial public offering, in which it would offer a 10% stake in the firm and target a valuation of around $2 billion, Bloomberg News reported. The IPO could take place as early as 2024.
* China's State Council approved a plan for the People's Bank of China to lend 200 billion yuan at an interest rate of about 1.75% per year to state commercial banks, which could use these loans along with their funds to refinance stalled real estate projects, the Financial Times of London reported, citing people involved in the discussions. China is seeking to mobilize up to 1 trillion yuan of loans for stalled property developments.
➤ India's central bank pushes banks to align disclosures with global climate norms
Only a few lenders had a strategy to embed environmental, social and corporate governance principles in their businesses and scale up their sustainable finance portfolio, the Reserve Bank of India found in its study.
➤ Not normal times': Fed hikes interest rates 75 basis points, says more to come
U.S. Federal Reserve Chairman Jerome Powell clarified that rate increases will continue into 2023 if inflation continues to run.
READ MORE about the market reaction and industry impact of the evolving situation in Russia and Ukraine in our new Issue in Focus.
BANKING
* The Export-Import Bank of Korea decided to increase the credit support for businesses dealing with inflation,...