Trends - Fitch Ratings - Business Recorder

Fitch Ratings

USD-PKR parity—I

Noted rating agency recently predicted that USD/ Rupee parity will reach around Rs 180 to USD 1 by next year. Their...

Published 07 Oct, 2021 04:25am

Fitch Ratings revises PKR forecasts downwards

ISLAMABAD: Fitch Ratings has revised downward its forecasts for the Pakistani rupee, ie, from Rs165 to Rs180 for ...

Published 01 Oct, 2021 03:11am

Markets

Fitch expects Pakistani rupee to weaken further in 2022

ISLAMABAD: Fitch Ratings revised down its forecasts for the Pakistani rupee on Thursday for both this year and next...

Updated 30 Sep, 2021 01:47pm

Business & Finance

Fitch upgrades Taiwan for outperforming peers during COVID-19 pandemic

Rating agency Fitch Ratings upgraded Taiwan to 'AA' from 'AA-' with a stable outlook, saying the economy had...

Published 10 Sep, 2021 10:48am

Pakistan's reserves likely to increase by $2.8bn

ISLAMABAD: The Board of Governors of the International Monetary Fund (IMF) has approved a general allocation of...

Updated 04 Aug, 2021 09:55am

Business & Finance

IMF's new SDR allocation could bolster Pakistan's forex reserves by $2.8 billion: Fitch

IMF's board of governors expected to approve allocation in August

Published 28 Jun, 2021 02:30pm

Markets

Sri Lankan shares end higher as financials gain

The CSE All-Share Index closed up 0.74% at 7,715.46.
Trading volume on Friday fell to 73.9 million from 165.9 million in the previous session.

Published 18 Jun, 2021 06:36pm

Fitch assigns ‘B-’ rating to Wapda’s proposed USD notes

ISLAMABAD: Fitch Ratings has assigned Pakistan Water and Power Development Authority’s (WAPDA, B-/Stable) proposed...

Published 26 May, 2021 03:45am

Business & Finance

Fitch Ratings assigns WAPDA’s USD Notes 'B-' rating

“The proceeds of the proposed notes will be used to finance or refinance eligible green projects,” said Fitch.

Published 25 May, 2021 10:53am

Fitch seeks viewpoint on China’s future role in bilateral financing

ISLAMABAD: Fitch Ratings- Hong Kong, an international sovereign rating agency, which is conducting Pakistan’s...

Published 07 May, 2021 04:35am

Business & Finance

Fitch Ratings gets UAE regulator license

The license, effective as of April 6, allows Fitch to provide credit ratings for "onshore" entities listed in SCA-controlled stock exchanges, including the Dubai Financial Market and Abu Dhabi Securities Exchange, Fitch said in a statement.

Published 14 Apr, 2021 05:52pm

Business & Finance

Fitch raises outlook for Australia's 'Big Four' banks as economy rebounds

However, the ratings agency warned that risks to the forecast would remain until the vaccination programme is completed.

Published 12 Apr, 2021 02:21pm

Business & Finance

Fitch Ratings assigns 'B-' rating to Pakistan's proposed foreign-currency bonds

As per Fitch Ratings, the rating is in line with Pakistan's Long-Term Foreign-Currency Issuer Default Rating (IDR) of 'B-' with a stable outlook.

Published 30 Mar, 2021 01:40pm

Business & Finance

Fitch assigns Pakistan’s WAPDA at 'B-' ratings with Stable outlook

Fitch Ratings maintain a 'Very Strong' assessment regarding WAPDA's ownership structure and control mechanism.

Published 17 Mar, 2021 02:59pm

Markets

Fitch cuts outlook on Kuwait's debt rating to 'negative'

Fiscal deficits will likely remain in the double digits in the medium to long term and lead to a gradual, but steady deterioration of Kuwait's balance sheet strengths, it said.

Published 03 Feb, 2021 11:49am

Markets

Oil prices fall

LONDON: Oil prices fell on Friday, retreating further from 11-month highs hit last week, weighed down by worries ...

Published 23 Jan, 2021 03:56am

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
786 Investments / Oct 16 786 Investments Limited(786)	7.12 ▼ 0.00 (0.00%)
AL- Abbas / Oct 16 Al-Abbas Sugar Mills Limited(AABS)	282.01 ▼ 0.00 (0.00%)
Agro Allianz / Oct 16 Agro Allianz limited(AAL)	11.10 ▼ 0.00 (0.00%)
AL-Abid Silk / Oct 16 Al-Abid Silk Mills Limited(AASM)	3.49 ▼ 0.00 (0.00%)
Ali Asghar / Oct 16 Ali Asghar Textile Mills Limited(AATM)	2.07 ▼ 0.00 (0.00%)
Allied Bank / Oct 16 Allied Bank Limited(ABL)	78.15 ▼ 0.00 (0.00%)
Abbott Lab. / Oct 16 Abbott Laboratories (Pakistan) Limited(ABOT)	780.00 ▼ 0.00 (0.00%)
Abson Ind. / Oct 16 Abson Industries Limited(ABSON)	2.50 ▼ 0.00 (0.00%)
Attock Cement / Oct 16 Attock Cement Pakistan Limited(ACPL)	137.00 ▼ 0.00 (0.00%)
Adam Sugar / Oct 16 Adam Sugar Mills Limited(ADAMS)	31.24 ▼ 0.00 (0.00%)

Stock	Price
786 Investments / Oct 16 786 Investments Limited(786)	7.12 ▼ 0.00 (0.00%)
AL- Abbas / Oct 16 Al-Abbas Sugar Mills Limited(AABS)	282.01 ▼ 0.00 (0.00%)
Agro Allianz / Oct 16 Agro Allianz limited(AAL)	11.10 ▼ 0.00 (0.00%)
AL-Abid Silk / Oct 16 Al-Abid Silk Mills Limited(AASM)	3.49 ▼ 0.00 (0.00%)
Ali Asghar / Oct 16 Ali Asghar Textile Mills Limited(AATM)	2.07 ▼ 0.00 (0.00%)
Allied Bank / Oct 16 Allied Bank Limited(ABL)	78.15 ▼ 0.00 (0.00%)
Abbott Lab. / Oct 16 Abbott Laboratories (Pakistan) Limited(ABOT)	780.00 ▼ 0.00 (0.00%)
Abson Ind. / Oct 16 Abson Industries Limited(ABSON)	2.50 ▼ 0.00 (0.00%)
Attock Cement / Oct 16 Attock Cement Pakistan Limited(ACPL)	137.00 ▼ 0.00 (0.00%)
Adam Sugar / Oct 16 Adam Sugar Mills Limited(ADAMS)	31.24 ▼ 0.00 (0.00%)

Stock	Volume

Markets →

Forex
World
Commodity

Currency	Rate
USD PKR Interbank Selling / Oct 16	171.25
USD PKR Interbank Buying / Oct 16	171.15
USD to Japanese Yen / Oct 16	114.22
USD to Swiss Franc / Oct 16	0.92
Pound Sterling to USD / Oct 16	1.38
Euro to USD / Oct 16	1.16
UK LIBOR % / Oct 16	0.07

Stock	Volume
S&P 500 / Oct 16	4471.37
India Sensex / Oct 16	61305.95
Tokyo Nikkei / Oct 16	29068.63
Nasdaq / Oct 16	14897.34
Hang Seng / Oct 16	25330.96
FTSE 100 / Oct 16	7234.03
Dow Jones / Oct 16	35294.76
Germany DAX 30 / Oct 16	15587.36
France CAC40 / Oct 16	6727.52