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Fitch Ratings

Fitch keeps Britain outlook negative, debt at AA-

WASHINGTON: Fitch ratings on Friday maintained Britain's AA- debt rating and outlook at negative, but warned rising...

Published 17 Jan, 2021 04:13am

Business & Finance

Record rise in government debt will hit emerging markets harder: Fitch says

Global sovereign debt soared by $10 trillion to $77.8 trillion, or 94% of world gross domestic product, as governments boosted spending on health.
For emerging-market sovereigns there has been no 'free lunch' associated with lower rates.

Published 06 Jan, 2021 07:32pm

Business & Finance

Japan's record $1 trillion budget highlights COVID-19 challenge to growth, debt

The 106.6 trillion yen ($1.03 trillion) annual budget also got a boost from record military and welfare outlays. It marked a 4% rise from this year's initial level, rising for nine years in a row, with new debt making up more than a third of revenue.

Published 21 Dec, 2020 08:44am

Business & Finance

Fitch does not expect African banking crisis, cautious on Angolan lenders

Angola is saddled with debt following a sharp decline in crude prices and the impact of the coronavirus pandemic on its economy.
On Nigerian banks, Fitch's Dissanayake said their ability to generate strong revenue would help blunt the impact of higher expected credit costs.

Published 11 Dec, 2020 11:55pm

Business & Finance

Fitch downgrades NY City debt after S&P revises outlook on COVID uncertainty

These issues could affect the region's economic recovery and cause "weakness in property tax values that will not be evident until fiscal 2023," S&P's Wittstruck said.

Published 09 Dec, 2020 08:39am

Business & Finance

Fitch says upgrades of major economies unlikely in 2021 despite COVID-19 vaccine

Latam, Middle East, Africa most vulnerable to negative action.
Start of 2021 to be weak in US, Europe.
Clearest benefits in annual growth numbers to be seen in 2022.

Published 09 Dec, 2020 02:27am

Markets

Fitch downgrades Sri Lanka on rising default risk

Sri Lanka relies on tourism and garment exports for foreign exchange reserves. It's been hit hard by the pandemic.
We think there are now increasing risks to Sri Lanka's ability to meet its external debt repayments.

Published 28 Nov, 2020 12:25am

Markets

Fitch sees growing risk as Turkish lira hits new low

Double-digit inflation and depleted FX reserves "would significantly increase the chances" of a formal interest rate hike by year end.
The lira slid as much as 1.7% to a record low of 8.56 versus the dollar, despite the greenback's weakness as votes were still being counted in Tuesday's tight US election.

Published 06 Nov, 2020 05:50pm

World

South Africa's wage freeze plan hinged on ‘difficult’ negotiations, says Fitch

The success of the plan "will depend crucially on difficult negotiations with public sector trade unions,"
Freezing civil servants' salaries will put the governing party on a collision course with its labour union allies.

Published 29 Oct, 2020 07:07pm

Business & Finance

Mexico's economic contraction my put pressure on insurers: Fitch Ratings

Latin America's No. 2 economy is facing the deepest recession in decades. Its sovereign bonds are edging closer to a downgrade to speculative grade, or junk.
"Fitch expects the financial pressure on Mexican insurers and surety companies will persist at year end 2020.

Published 20 Oct, 2020 01:38am

Business & Finance

Fitch downgrades Omani banks, companies as government finances weaken

Oman, one of the weakest economies in the hydrocarbon-reliant Gulf, is burdened by high levels of debt.
Fitch on Wednesday downgraded by one notch HSBC Bank Oman , Ahli Bank, and Bank Muscat.

Published 26 Aug, 2020 07:31pm

Markets

Fitch Ratings testament to govt’s ‘balanced and effective’ financial management, says Shaikh

Fitch Ratings on Monday has affirmed Pakistan’s long-term foreign-currency Issuer Default Rating (IDR) at “B-” with a stable outlook.

Published 18 Aug, 2020 01:37pm

Business & Finance

Fitch affirms Russia at 'BBB', outlook stable

We forecast Russia to contract by 5.2% in 2020 due to the impact of the COVID-19 pandemic and containment measures on domestic demand and exports.
Russia is rated investment grade by the three big international rating agencies, including S&P Global Ratings and Moody's.

Published 08 Aug, 2020 02:27am

Gainers
Losers
Leaders

Stock	Price
B.R.R. Mod. (R) / Jan 18 B.R.R. Guardian Modaraba (R)(BRRR)	2.54 ▲ 1.17 (70.47%)
Popular Islamic Mod. / Jan 18 Popular Islamic Modaraba(PIM)	6.94 ▲ 1.00 (15.67%)
Pakistan Cables / Jan 18 Pakistan Cables Limited(PCAL)	157.59 ▲ 21.21 (15.07%)
Khurshid Spinng / Jan 18 Khurshid Spinning Mills Limited(KHSM)	18.41 ▲ 1.28 (14.99%)
Khairpur / Jan 18 Khairpur Sugar Mills Limited(KPUS)	52.72 ▲ 6.72 (14.61%)
B.R.R. Mod. / Jan 18 B.R.R. Guardian Modaraba(BRR)	12.50 ▲ 1.30 (11.61%)
Nagina Cot. / Jan 18 Nagina Cotton Mills Limited(NAGC)	57.51 ▲ 4.61 (8.51%)
Pakgen Power / Jan 18 Pakgen Power Limited(PKGP)	25.98 ▲ 1.98 (8.25%)
Tata Textile / Jan 18 Tata Textile Mills Limited(TATM)	56.86 ▲ 3.96 (7.28%)
F.Treet Manuf.Mod / Jan 18 First Treet Manufacturing Modaraba(FTMM)	17.87 ▲ 1.22 (7.26%)

Stock	Price
Sally Tex. / Jan 18 Sally Textile Mills Limited(SLYT)	4.71 ▼ 0.00 (-11.96%)
KASB Mod. / Jan 18 KASB Modaraba(KASBM)	1.60 ▼ 0.31 (-11.11%)
IbrahimFibres / Jan 18 Ibrahim Fibres Limited(IBFL)	105.02 ▼ 6.95 (-10.96%)
Saudi Pak Leas. / Jan 18 Saudi Pak Leasing Company Limited(SPLC)	1.60 ▼ 0.32 (-9.09%)
First Pak Modaraba / Jan 18 First Pak Modaraba(PAKMI)	2.21 ▼ 0.92 (-8.68%)
First Prud Mod. / Jan 18 First Prudential Modaraba(PMI)	2.11 ▼ 1.01 (-8.26%)
Shadman Cotton / Jan 18 Shadman Cotton Mills Limited(SHCM)	22.89 ▼ 1.71 (-6.95%)
Media Times / Jan 18 Media Times Limited(MDTL)	2.05 ▼ 0.22 (-6.82%)
Yousuf Weaving / Jan 18 Yousaf Weaving Mills Limited(YOUW)	4.69 ▼ 0.13 (-6.76%)
Pak. P.V.C. / Jan 18 Pakistan PVC Limited(PPVC)	3.55 ▼ 0.09 (-6.58%)

Stock	Volume
TRG Pak. / Jan 18 TRG Pakistan Limited(TRG)	47,593,500 ▼ 7.79
Fauji Foods / Jan 18 Fauji Foods Limited(FFL)	44,616,500 ▼ 1.25
Hum Network / Jan 18 Hum Network Limited(HUMNL)	38,439,000 ▼ 0.50
K-Electric Ltd / Jan 18 K-Electric Limited(KEL)	33,013,500 ▼ 0.05
Power Cement / Jan 18 Power Cement Limited(POWER)	29,144,000 ▼ 0.89
Unity Foods / Jan 18 Unity Foods Limited(UNITY)	21,084,818 ▼ 0.75
Jahangir Sid. Co. / Jan 18 Jahangir Siddiqui & Co. Ltd.(JSCL)	20,909,000 ▼ 1.94
Fauji Fert. Bin / Jan 18 Fauji Fertilizer Bin Qasim Limited(FFBL)	18,554,500 ▼ 0.50
Pakistan Refinery / Jan 18 Pakistan Refinery Limited(PRL)	18,531,000 ▼ 0.29
Worldcall / Jan 18 Worldcall Telecom Limited(WTL)	18,273,500 ▼ 0.08

Markets →

Forex
World
Econ

Currency	Rate
USD PKR Interbank Selling / Jan 16	160.35
USD PKR Interbank Buying / Jan 16	160.20
USD to Japanese Yen / Jan 16	103.90
USD to Swiss Franc / Jan 16	0.89
Pound Sterling to USD / Jan 16	1.36
Euro to USD / Jan 16	1.21

Stock	Volume
S&P 500 / Jan 16	3770.02
India Sensex / Jan 16	49034.67
Tokyo Nikkei / Jan 16	28519.18
Nasdaq / Jan 16	12998.50
Hang Seng / Jan 16	28573.86
FTSE 100 / Jan 16	6735.71
Dow Jones / Jan 16	30814.26
Germany DAX 30 / Jan 16	13787.73
France CAC40 / Jan 16	5611.69

Indicator	Value
UK LIBOR % / Jan 16	0.09

Fitch Ratings

Fitch keeps Britain outlook negative, debt at AA-

Record rise in government debt will hit emerging markets harder: Fitch says

Japan's record $1 trillion budget highlights COVID-19 challenge to growth, debt

Fitch does not expect African banking crisis, cautious on Angolan lenders

Fitch downgrades NY City debt after S&P revises outlook on COVID uncertainty

Fitch says upgrades of major economies unlikely in 2021 despite COVID-19 vaccine

Fitch downgrades Sri Lanka on rising default risk

Fitch sees growing risk as Turkish lira hits new low

South Africa's wage freeze plan hinged on ‘difficult’ negotiations, says Fitch

Mexico's economic contraction my put pressure on insurers: Fitch Ratings

Fitch downgrades Omani banks, companies as government finances weaken

Fitch Ratings testament to govt’s ‘balanced and effective’ financial management, says Shaikh

Fitch affirms Russia at 'BBB', outlook stable

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