Gold recorded its worst weekly slump this year in the week ending May 24 on hawkish FOMC minutes and robust US PMIs. Now, markets largely look for just one rate cut this year as traders readjust their rate expectations in the wake of the US data and the Fed’s stance. Spot gold closed with a … Read more
US manufacturing activity expanded at the fastest pace since September 2022, powered by stronger orders growth and suggesting producers are breaking out of an extended slump. The S&P Global flash February purchasing managers index advanced to 51.5 from 50.7. Readings greater than 50 indicate expansion and, while only modest, the gauge has shown growth in … Read more
MUMBAI – S&P Global Ratings has lowered the long-term issuer credit rating of Vedanta Resources and also on its outstanding debt to “CCC” from “B-”. The rating downgrade by S&P comes two days after Moody’s Investors Service slashed the conglomerate’s rating. It has also placed the ratings under CreditWatch with negative implications. “We believe the … Read more
S&P Global has affirmed its rating of oil-to-telecom conglomerate Reliance Industries, betting on the company’s resilient operating performance for the next two years. The long-term issuer credit rating has been affirmed at BBB+. The issue rating on the company’s senior unsecured debt has also been affirmed. The ratings come with a stable outlook, which reflects … Read more
India’s services sector’s growth has continued to gain momentum, with a surge in incoming new work boosting business activity and supporting a renewed increase in employment amid rising price pressures, data shows. India’s S&P Global PMI in the month of April stood at 57.9, up from 53.6 in March. Similarly, the composite PMI for the … Read more
India continued to lead fintech investments in the Asia-Pacific region with $1.93 billion raised across 66 deals in the July-September quarter, S&P Global Market Intelligence said in a note. “We expect Southeast Asia-based fintechs to attract more capital as venture capitalists raise new money to double down on technology investments in the region,” said Celeste … Read more