Domestic Bonds – RiotJs http://riotjs.com/ Sun, 10 Oct 2021 10:59:00 +0000 en-US hourly 1 https://wordpress.org/?v=5.8 Egypt’s central bank issues LE 27.5 billion in treasury bills and bonds on Sunday http://riotjs.com/egypts-central-bank-issues-le-27-5-billion-in-treasury-bills-and-bonds-on-sunday/ Sun, 10 Oct 2021 10:59:00 +0000 http://riotjs.com/egypts-central-bank-issues-le-27-5-billion-in-treasury-bills-and-bonds-on-sunday/

CAIRO – October 10, 2021: The Central Bank of Egypt (CBE), on behalf of the Ministry of Finance, is expected to issue LE 27.5 billion in treasury bills and bonds (treasury bills and bonds) on Sunday 10 October.

The Treasury bills were offered in two installments, the first valued at LE 3.5 billion with a term of 182 days and the second at LE 14.5 billion with a term of 364 days.

As for the treasury bills, they were offered in a single installment worth LE 9.5 billion with a term of three years.

Earlier, the Ministry of Finance had announced the possibility of reducing the accepted quantities of offers of bills and bonds on the public treasury, issued in local currency until the end of the current fiscal year.

For the current fiscal year, the budget deficit is estimated at 6.6% of gross domestic product (GDP), planned by the ministry to be financed by treasury bills and bonds and by international and Arab loans.

The Monetary Policy Committee of the Central Bank of Egypt (CBE) decided Thursday, September 16 to keep the overnight deposit rate, the overnight lending rate and the main transaction rate unchanged at 8. , 25%, 9.25% and 8.75%. respectively. The discount rate was also kept unchanged at 8.75%.

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Malaysian bond market: shaken and restless http://riotjs.com/malaysian-bond-market-shaken-and-restless/ Sat, 09 Oct 2021 01:53:11 +0000 http://riotjs.com/malaysian-bond-market-shaken-and-restless/

The BIG central bank push for higher interest rates marked a turning point for bonds as their yields rose.

What impact will this have on Malaysia in the future?

Yield increases are important because their impact is not limited to bond issuers and investors.

They can also influence sentiment in other capital markets and economic growth, as borrowing costs become higher to a greater extent.

The government bond markets are one of the best places to get a glimpse of the changing economic outlook and the direction of interest rates.

For most of 2020, AMS yields have reached record highs amid aggressive rate cuts and cash flow from foreign investors.

As of 2021, AMS yields have now hovered around pre-Covid 19 levels, at around 3.60%.

MGS was primarily influenced by the renewed fears of inflation manifested by world markets due to massive government spending.

Also part of the problem was the need for the Malaysian government to take on more debt as it cannot depend on income alone.

Fear of inflation in global bond markets first surfaced in the first quarter of 2021, as developed countries rushed to reopen their economies.

Investors essentially believe pent-up demand would spur an accelerated economic recovery.

New rounds of massive budget spending plans have exacerbated demand, particularly US President Joe Biden’s $ 1 trillion infrastructure spending bill.

The yield on the 10-year AMS peaked at 3.48% in March 2021 from its all-time low of 2.40% in August of last year.

In the second quarter of 2021, bond sales halted due to the rapid spread of the Delta variant of Covid-19, hampering plans for many governments to reopen.

However, this proved to be short-lived as food and commodity prices started to soar.

The price spikes were due to supply disruptions caused by the re-application of foreclosure measures.

Fears of a spike in prices were rekindled once again in August, as governments decided to treat the Covid-19 pandemic as endemic.

Lockdown measures were relaxed again as governments turned to vaccination rates rather than infection rates as a goal of reopening their economies.

There were also a growing number of central banks pushing for higher interest rates and reduced asset purchases as they worried about inflation.

The external environment would increase the risk for Malaysia of experiencing a premature economic recovery as global policymakers no longer support the markets.

The Covid-19 pandemic has severely disrupted economic activities, although governments have made budgetary and monetary disbursements in a context of prolonged containment.

Now, global central banks are overwhelmed by fears of rising commodity prices as the rest of the world is reeling from Covid-19.

The Evergrande saga in China may provide vital clues for bond markets going forward.

China was one of the fastest countries to stop providing economic aid after signs of recovery.

China’s swift decision to reduce political support and bring excess debt under control has raised fears in its bond markets.

Real estate bond issuers have found it increasingly difficult to honor their payments.

He demonstrated the fragility of the economic recovery.

Chinese companies took on huge debt when rates were low and bet big on plans to reopen while the government ruled over excess debt.

This scenario is a strong signal to global markets that too rapid tightening of monetary policies would lead to spillover effects as bond markets face additional pressures.

As the trading nation with the highest concentration of foreign holdings in its Asean bond market, Malaysia is very sensitive to such global changes.

The government had disclosed development spending of RM400 billion as part of Malaysia’s 12th plan to reset the Malaysian economy and encourage foreign capital inflows.

This translates into annual development spending of around RM80 billion, likely financed by debt, pushing for even higher returns.

Will Bank Negara increase the overnight policy rate (OPR) to control inflation? A rise in the OPR would push yields further upward, rapidly increasing the cost of funding.

It may seem too late as Malaysia is gradually reopening its economy after returning to tougher lockdowns and a state of emergency.

The Malaysian economy is still plagued by Covid-19 and faces ever-changing political alliances that threaten long-term development plans.

Meanwhile, central banks and global governments are determined to remove pandemic-era stimulus aid to avoid overheating.

Can Malaysia follow suit so soon when its economy is shaken by the external environment and shaken by its internal economic scars?

The upward trend in yields is expected to continue in the future. A correction to an exaggerated rally in bonds is long overdue as global banks are poised to raise interest rates.

Malaysia cannot escape the fact that the government is more inclined to take on more debt than to generate more income to recover from a crisis.

All signs point to higher borrowing costs for Malaysia as it struggles to keep its economy afloat.

Tan Jack Fong is Senior Analyst at Malaysia Rating Corp Bhd. The opinions expressed here are his own.

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AM Best affirms the credit ratings of the Construction Guarantee Cooperative http://riotjs.com/am-best-affirms-the-credit-ratings-of-the-construction-guarantee-cooperative/ Thu, 07 Oct 2021 13:54:00 +0000 http://riotjs.com/am-best-affirms-the-credit-ratings-of-the-construction-guarantee-cooperative/

HONG KONG – (COMMERCIAL THREAD) –AM Best confirmed the financial strength rating of A + (superior) and the long-term issuer credit rating of “aa-” (superior) of Construction Guarantee Cooperative (CG) (South Korea). The outlook for these credit ratings (ratings) is stable.

The ratings reflect the strength of CG’s balance sheet, which AM Best considers to be the strongest, as well as its strong operational performance, favorable business profile and appropriate enterprise risk management (ERM).

CG’s risk-adjusted capitalization is valued at the highest level, as measured by Best’s capital adequacy ratio (BCAR), underpinned by its large absolute capital base of KRW 6.5 trillion (5.9 billion USD) at the end of 2020, extremely low net underwriting, leverage and a very favorable liquidity position. The company’s prudent investment portfolio focuses on liquidity for the payment of surety debts and lending to its members as a cooperative and helps maintain the stability of its strong risk-adjusted capital position.

CG’s strong operational performance is supported by its highly profitable bond underwriting performance and stable investment income, as evidenced by a five-year average combined ratio of 54.2% (2016-2020) and an operating ratio. -3.4%, although volatile from year to year. -year. Its bond underwriting results were not significantly impacted by the COVID-19 pandemic due to stable and increasing levels of new construction in the public sector and a still favorable private housing market in South Korea. In 2020, the profitability of its surety line improved further, coupled with a favorable loss experience, which led to a reversal of its provisions for surety claims.

CG’s strong price negotiating power resulting from its dominant market share and the mandatory nature of surety bonds in construction projects partially offset underwriting volatility caused by the strong correlation between its operational performance and the construction industry. . Meanwhile, CG’s insurance business, which accounted for 17% of its gross written premiums (GWP), suffered a very small net loss in 2020, mainly due to the increase in weather-related claims over the course of the year. ‘year. While the impact on CG’s bottom line was minimal, AM Best notes that the company has implemented mitigation measures to ensure its stable performance, such as rate increases and tighter underwriting. A strong flow of investment income provides additional stability to CG’s overall bottom line.

Established in 1963 under the Korea Construction Financial Cooperatives Act, CG is 100% owned by its members, who make up the majority of general construction companies in South Korea. As the government appointed guarantor for general contractors, CG has an established presence in the construction surety segment in South Korea with the largest market share of over 50% based on the total underwriting volume in South Korea. 2020. With regard to the general contractors segment only, CG accounted for a 75% share in 2020. To mitigate its risk of concentration within the national construction surety line, the company has diversified its activities into expanding into overseas construction bonds and construction-related insurance business; these represented around 7% and 17% of the total PRP in 2020, respectively.

AM Best considers CG’s risk management capabilities to be aligned with its risk profile. Its main risk areas are effectively monitored through a comprehensive ERM structure, which includes a sophisticated credit assessment system and real-time monitoring of the financial situation of its members.

Negative rating actions could arise if CG’s operating performance deteriorates significantly due to a large build-up of bond claims resulting from a prolonged downturn in the overall economy and the construction industry.

Ratings are communicated to rated entities before their publication. Unless otherwise indicated, the ratings have not been changed as a result of this communication.

This press release relates to credit ratings published on the AM Best website. For all rating information relating to the publication and relevant disclosures, including details of the office responsible for issuing each of the individual ratings referenced in this publication, please see AM Best’s Recent Rating Activity webpage. . For more information on the use and limitations of credit rating reviews, please see Best’s Guide to Credit Ratings. For more information on the proper use of Best Credit Ratings, Best Preliminary Credit Ratings, and AM Best press releases, please see the Guide to Appropriate Use of Best Ratings and Ratings.

AM Best is a global credit rating agency, news publisher, and data analytics provider specializing in the insurance industry. Based in the United States, the company operates in more than 100 countries with regional offices in London, Amsterdam, Dubai, Hong Kong, Singapore and Mexico City. For more information, visit www.ambest.com.

Copyright © 2021 by AM Best Rating Services, Inc. and / or its affiliates. ALL RIGHTS RESERVED.

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October bond attracts few takers due to tight liquidity http://riotjs.com/october-bond-attracts-few-takers-due-to-tight-liquidity/ Wed, 06 Oct 2021 21:02:11 +0000 http://riotjs.com/october-bond-attracts-few-takers-due-to-tight-liquidity/

Capital markets

October bond attracts few takers due to tight liquidity


National Treasury building. PHOTO FILE | NMG

charlesmwaniki_img

Summary

  • The Treasury registered an underwriting in its monthly bond sale for the first time since March.
  • Investors offered a total of 55.47 billion shillings on the three-tranche October bond which was looking for 60 billion shillings, countering the recent trend of large oversubscriptions on sales of primary bonds.
  • The Central Bank of Kenya took 52.05 billion shillings, leaving open the possibility of a cash sale in the coming days to close the gap on the target amount.

The Treasury subscribed to its monthly bond sale for the first time since March as liquidity in the money market tightened on the back of a sweep by the Central Bank of Kenya (CBK).

Investors offered a total of 55.47 billion shillings on the three-tranche October bond which was looking for 60 billion shillings, countering the recent trend of large oversubscriptions on sales of primary bonds.

The Central Bank of Kenya took 52.05 billion shillings, leaving open the possibility of a cash sale in the coming days to close the gap on the target amount.

AIB-AXYS Africa analysts had predicted the bond would be underwritten, citing the lack of liquidity in the market which saw the interbank rate soar to 6.53% from 3.33% a month ago.

“In recent weeks liquidity in the money markets has declined due to a heavily oversubscribed infrastructure bond issue (in September), as well as aggressive open market operations by the CBK… bonds are likely to be subscribed, ”the investment bank said in a note before the bond auction.

The government reopened three past bonds for the October issue. These are two 15-year securities sold for the first time in 2013 and 2019 with maturities of 6.4 years and 12.9 years respectively, and a 25-year bond that was sold for the first time in July of this year, which is now 24.7 years old.

The 25-year-old paper was the most preferred among investors, mainly pension funds, attracting offers worth 28.7 billion shillings at an average rate of 13.9%.

The 15-year paper issued in 2013 received offers worth 23.4 billion shillings and pays a rate of 11.3%, while the mid-term reopening of 2019 received offers worth only 3.4 billion shillings with an average rate of 12.3%.

Although the government has been unable to increase its total target to 60 billion shillings, recent oversubscriptions, including the September infrastructure bond which raised 106.8 billion shillings, mean that it is still ahead of the pro-rated domestic borrowing target for the entire year.

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Asian High Yield Bond Issuers Feel Evergrande Pain As Investors Consider Better Protection http://riotjs.com/asian-high-yield-bond-issuers-feel-evergrande-pain-as-investors-consider-better-protection/ Wed, 06 Oct 2021 15:40:33 +0000 http://riotjs.com/asian-high-yield-bond-issuers-feel-evergrande-pain-as-investors-consider-better-protection/

LONDON / HONG KONG / SINGAPORE (Oct 6): Global investors are likely to demand more protection against riskier bond issuers in China and Asia as they seek higher yields and more transparency amid Evergrande’s financial woes Group.

Suffocating less than $ 305 billion in debt and on the verge of collapse, real estate developer Evergrande missed two payments to offshore bondholders last month and has yet to announce plans to repay those investors.

It has eight other offshore coupon repayments and one onshore due before the end of the year.

The non-payment, followed by a series of downgrades in the credit ratings of indebted Chinese developers, has disrupted Chinese high-yield debt, triggered cash outflows and now worries asset managers about issuers in the region , said investors and analysts.

Arthur Lau, director of Hong Kong-based PineBridge Investments for Asia Ex-Japan, Fixed Income, believes the heady mix of debt problems and changing regulations in China is changing the goals for foreign investors.

“These uncertainties have had a significant impact on the risk appetite of Chinese assets,” Lau said. Reuters. “A higher risk premium may justify given the unpredictability of policy reforms at this time.”

Signs of stress in China’s real estate industry are being felt: Developer Fantasia Holdings failed to pay a $ 206 million bond due Monday. Its counterpart Sinic Holdings suffered a rating downgrade on Tuesday after some units defaulted on interest payments on onshore financing agreements.

Uncertainty over when and if authorities will step in to cushion the risk of Evergrande contagion, at a time when Beijing’s regulatory crackdown has already frayed nerves and economic growth is slowing has pushed prices down sharply. obligations.

Foreign investors withdrew US $ 8.1 billion in Chinese debt in September – the largest outflow in six months – while emerging market fixed-income securities outside China benefited from an influx, according to data from the ‘Institute of International Finance.

Much of the pain is concentrated in the country’s high-yield companies: the Chinese high-yielding ICE BofA index has lost about a quarter since the start of the year, while the global benchmark and Chinese investment-grade peers barely budged.

Analysts say the steep losses on Chinese junk bonds reflect both default risk and uncertainty over how to value bonds given the unclear picture of how Evergrande’s debt can be. restructured and the ability of the authorities to stop the spread to other businesses.

At 160% of expected gross domestic GDP, China’s non-financial corporate debt is above average for advanced economies and rating agencies have consistently flagged asset quality as a concern, said Adam Slater of Oxford Economics.

“To what extent the recent increase in risk premia is proving to be permanent is not yet clear,” he said, adding that much would depend on the success of the Chinese authorities in containing the financial contagion of Evergrande.

The pressure has also been felt outside the real estate sector.

Five-year bonds issued by West China Cement, aluminum producer China Hongqiao Group and leasing company Ehi Car have seen yields jump more than a percentage point since late August.

Maturity wall

Evergrande’s reverberations are felt beyond China. Rating agency Fitch calculated that the funding costs of rated Asia-Pacific private issuers rose more than a percentage point to 7.5% at the end of September.

The top 50 issuers of high-yield Asian firms – which have $ 423 billion in debt outstanding between them – could enjoy some breathing room for now with just $ 2.6 billion in debt. maturity until the end of the year, Fitch calculates.

But that will soon change when a record $ 28.2 billion expires in 2022, followed by $ 28.7 billion in 2023, the rating agency said in its latest report.

The group is dominated by China and the real estate sector, but also includes companies from India and Malaysia to Mongolia.

Analysts also predict that the latest events will increase investor pressure for more favorable conditions.

“The lasting impact in terms of pricing could come in the form of investor insistence on improving transparency and corporate reporting,” said Jim Veneau, head of fixed income in Asia at AXA Investment. Management.

Philip Lee, Head of Debt Capital Markets for Asia-Pacific at DLA Piper, expects to see “a demand for tighter covenants in bond documentation, as well as a greater focus on collateral.” group and asset security.

Given the size of the Chinese bond market at US $ 16 trillion, relatively high yields, and growing prominence in global indices and financial markets, some are betting that investors will see through the current turmoil in the near future. to come up.

This month will see the start of inclusion of Chinese government bonds in the FTSE Russell WGBI Index – a widely followed fixed income benchmark – which could see large amounts of passive investments flowing into debt markets. from the country.

“In the long run, we think this market is just too big to ignore,” said Lau of PineBridge.

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Public debt reaches 39,770 billion rupees in July-August http://riotjs.com/public-debt-reaches-39770-billion-rupees-in-july-august/ Wed, 06 Oct 2021 01:00:00 +0000 http://riotjs.com/public-debt-reaches-39770-billion-rupees-in-july-august/

KARACHI: Public debt rose 2.8% in the first two months of the current fiscal year as the government borrowed heavily to fill the budget deficit, central bank data showed on Tuesday, but analysts put warns against an increase in the cost of debt as inflation accelerates.

The public debt stood at 39.770 billion rupees at the end of August. It stood at 38,697 billion rupees in June. Debt increased 11.52% year-on-year. It stood at 35.6 trillion rupees at the end of August 2020.

The country’s public debt continued to rise due to the financing of the budget deficit, the depreciation of the exchange rate, the rise in interest payments, the economic stimulus plan linked to the Covid and the social security programs.

The financing needs of the budget deficit are mainly met by the domestic market and within national sources, a large part of the financing is mobilized by long-term government securities, especially when there is no borrowing from the government. State Bank of Pakistan.

External debt came from multilateral and commercial creditors.

Domestic debt rose 0.26% to Rs 26,334 billion at the end of August. It included government securities, held primarily by commercial banks, and non-bank debt, such as national savings plans, including priced bonds.

A recent increase in the key rate will increase the cost of government debt.

“Considering the level of prices and the super-peak of raw materials, the rise in interest rates is inevitable. This will have a negative impact on debt service, ”said Muzammil Aslam, CEO of Tangent Capital.

Debt accumulated through long-term instruments fell slightly to 19,041 trillion rupees from 19,556 trillion rupees, while short-term debt fell from 6,680 trillion rupees to 7,238 trillion rupees. , highlighting the government’s growing dependence on short-term loans.

Long-term debt comes from Pakistani investment bonds, while short-term debt comes from market treasury bills.

“Rising interest rates will mean a higher cost of borrowing for the government. It is believed that a 1% increase in interest rates translates into additional debt service of around Rs 90-100 billion, ”said Tahir Abbas, head of research at Arif Habib Limited.

External debt increased 8% to 13.435 billion rupees as of August 31, 2021, due to a sharp decline in the national currency and a higher current account deficit. It also shows an increase in loans from multilateral, bilateral and commercial sources, and from international capital markets such as Eurobonds.

The government, in its annual debt review and public debt bulletin for fiscal year 2021, said risk indicators remained within declared benchmarks in fiscal year 2020-2021. However, few annual targets set last year for debt risk indicators were slightly missed, mainly due to the higher than expected federal budget deficit, lower than expected sukuk issuance due to the unavailability of assets, the non-materialization of privatization proceeds, need to build up the cash-buffer in anticipation of future deadlines.

“Pakistan is benefiting from the G-20 Debt Service Suspension Initiative (DSSI) for a period of 20 months (May 2020 – December 2021), which will help to defer debt service to the tune of approximately $ 3.7 billion during this period, ”he added. .

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SBI share price: SBI to increase to Rs 6,000 cr via local AT1 next week http://riotjs.com/sbi-share-price-sbi-to-increase-to-rs-6000-cr-via-local-at1-next-week/ Mon, 04 Oct 2021 16:35:00 +0000 http://riotjs.com/sbi-share-price-sbi-to-increase-to-rs-6000-cr-via-local-at1-next-week/ MUMBAI: (SBI) is rushing to raise funds before the interest rate cycle turns following expected liquidity normalization measures from the Reserve Bank of India.

India’s largest lender to sell additional Tier 1 bonds worth up to Rs 6,000 crore, which are expected to be open for subscription at the Navratri festival next week, three people close to it said. folder.

“The announcement of the sale is expected to hit the stock exchanges by Monday and will be auctioned on October 13, the eighth day of the Navratri celebration,” one of the people named above told ET.

ET reported on September 15 that SBI plans to increase Rs 4,000 to 5,000 crore after the successful sweep of Rs 4,000 crore to 7.72% earlier this month.

SBI Capital Market helps the bank to raise funds.

SBI declined to comment. SBI Capital could not be contacted immediately for comment.

The local market for these quasi-equity securities has dried up completely after the capital market regulator imposed stricter valuation standards for mutual funds, once a major category of investors for these papers. .

The bonds offered can offer rates in the range of 7.65 to 7.85 percent with a five-year call that allows an exit option for investors. Its old sets of securities now return around 7.60% in the secondary market, resulting in mark-to-market gains for existing investors. When bond yields fall, prices rise.

The Reserve Bank of India will announce its bi-monthly policy this Friday. According to an ET survey of 24 banks, funds and financial institutions, it could keep its benchmark rates unchanged but establish a roadmap to increase the repo rate, like other global central banks, which will soon end easy monetary policy.

Last week, a seven-day variable pension auction yielded a threshold of 3.99%, which was almost equal to the 4% pension rate.

“The bonds were to be launched in late October or early November. It has now been advanced, it seems, ”said a local corporate bond arranger.

The base size of the second AT1 sale can be set at Rs 2,000 crore with an option to keep subscriptions up to Rs 6,000 crore.

AT1s, also known as perpetual bonds, are added to banks’ equity, unlike perpetual papers issued by a company. These securities do not have a fixed term but generally have a five-year call option that allows an exit route for investors.

These bonds are rated two or three notches below the corporate ratings of any issuer. Both Crisil and India Ratings have rated these proposed AT1 items with AA + (Stable) rating.

“The bank occupies a unique position; the growth of its retail assets as well as the quality of its assets could be better than that of its peers, ”India Ratings said in a note last Friday.

“Its ability to take large exposures at a lower cost due to the cost of deposits being among the lowest, also makes it the preferred lender of most large companies,” he said.

SBI remains the largest bank in India with a deposit market share of around 25.2% in the universe of domestic banks in FY21, compared to 24.7% in FY20.

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QSE sees domestic funds turn bullish amid weak sentiment http://riotjs.com/qse-sees-domestic-funds-turn-bullish-amid-weak-sentiment/ Sun, 03 Oct 2021 20:21:00 +0000 http://riotjs.com/qse-sees-domestic-funds-turn-bullish-amid-weak-sentiment/

The Qatar Stock Exchange, which opened the week on a stronger note to cross 11,500 intraday levels, however, was unable to maintain the bullish momentum as it ultimately closed 22 points lower.
Despite the bullish grip of domestic funds, the Qatar 20-stock index fell 0.19% to 11,462.96 points, after peaking at 11,567 points.
Bank and real estate outlets recorded above-average net sales on the stock exchange, with cumulative gains to date of 9.81%.
Nonetheless, more than 52% of the traded components extended their gains to investors in the market, whose capitalization eroded by over QR 1 billion or 0.17% to QR 660.12 billion, mostly in segments. microcaps.
The Islamic index declined more slowly than other stock market indices, where the industrial and banking sectors together made up about 49% of the total trading volume.
Overall revenue and trade volumes were down in the core market, where foreign funds were seen as net profit takers.
Arab and foreign retail investors have become net buyers in the market, which has seen a total of 40,278 exchange-traded funds (QATR sponsored by Masraf Al Rayan and QETF sponsored by Bank of Doha) valued at QR 411,575 change from hands on five deals.
The total return index fell 0.19% to 22,691.62 points, the Islamic Al Rayan (price) index 0.01% to 2,603.55 points and the All Share index fell 0.16 % to 3,614.72 points in the market, which saw no trading in sovereign bonds and treasury bills.
The index of the banking and financial services sector fell by 0.48%, real estate (0.22%) and industry (0.02%); while telecoms gain 0.83%, transport (0.81%), insurance (0.61%) and consumer goods and services (0.15%).
Some of the main losers in the main market include Qatar Industrial Manufacturing, Doha Insurance, Qatari Investors Group, Al Khaleej Takaful, QNB, Qatar Islamic Bank and Barwa. In the venture capital market, it was Mekdam Holding.
Nonetheless, more than 52% of the traded components increased their earnings, with the main players being Qatar General Insurance and Reinsurance, Vodafone Qatar, al khaliji, Alijarah Holding, Qatar First Bank, Medicare Group, Mazaya Qatar, Milaha and Nakilat.
Foreign funds became net sellers of QR 13.65 million against net buyers of QR 120.53 million on September 30.
Gulf institutions were net sellers of QR 3.28 million against net buyers of QR 4.43 million on the previous trading day.
However, domestic funds converted to net buyers to the tune of QR 11.77 million against net sellers of QR 71.73 million last Thursday.
Arab individuals were net buyers of QR 6.37 million against net profit takers of QR 1.07 million on September 30.
Foreign individuals became net buyers of QRF 3.85 million against net sellers of QR 1.44 million on the previous trading day.
Net sales of local retail investors fell significantly to QR 4.08 million from QR 48.75 million last Thursday.
The net profit reservation of Gulf individuals weakened significantly to QR 0.97 million from QR 1.97 million on September 30.
Arab funds had no major net exposure for the ninth consecutive session.
The total volume of trading in the main market fell 16% to 130.76 million shares, the value by 47% to QR 324.46 million and transactions by 57% to 5,667. The capital market- risk had recorded respectively 62%, 11% and 4% in volume, value and transactions.
In the main market, the transport sector’s trade volume fell by 63% to 6.09 million shares, the value by 63% to QR24.77 million, and transactions by 51% to 466.
There was a 53% drop in insurance trade volume to 2.73 million shares, 52% in value to QR7.53 million, and 69% trades to 100.
The trading volume of the banking and financial services sector fell 45% to 22.61 million shares, the value 73% to 69.95 million QR, and transactions 68% to 1,458.
The consumer goods and services sector experienced a 28% contraction in trade volume to 15.06 million shares, 2% in value to QR 51.57 million and 59% in transactions to 610.
The industrial sector’s trade volume decreased by 15% to 41.14 million shares, the value by 30% to QR 102.71 million and transactions by 50% to 1,705.
However, the telecom sector’s trade volume more than doubled to 22.01 million shares, while the value fell 4% to QR 42.24 million and trades 60% to 682.
The market saw a 78% increase in real estate transaction volume to 21.12 million shares and 13% in value to QR 25.69 million but a 20% contraction in transactions to 646.

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Geary County Reservation Photos September 27 http://riotjs.com/geary-county-reservation-photos-september-27/ Sun, 03 Oct 2021 03:02:07 +0000 http://riotjs.com/geary-county-reservation-photos-september-27/

Recent booking activity for the Geary County Detention Center. Everyone included in this post is innocent of crimes until proven guilty by a court. Courtesy photos.

Michael Peterson, Possession of depressant, Theft of goods / services, Arrested on 09/30
Seth Moreland, parole violation, arrested September 28
Seth Moreland, parole violation, arrested September 28
Thomas Reyes, Taxation;  no tax stamp for marijuana or controlled substance, Using / possessing with intent to use drug paraphernalia in the human body, Possession of marijuana, Arrested 09/28
Thomas Reyes, Taxation; no tax stamp for marijuana or controlled substance, Using / possessing with intent to use drug paraphernalia in the human body, Possession of marijuana, Arrested 09/28
Charmaine Jackson, Parole Violation, Link Violation (2 counts), Use / Possession with Intent to Use Drug Paraphernalia in the Human Body, Possession of Controlled Substance, Possession of Marijuana, Smuggling Trafficking in a correctional / care establishment, Battery on LEO, Ordered on 9/28
Charmaine Jackson, Parole Violation, Link Violation (2 counts), Use / Possession with Intent to Use Drug Paraphernalia in the Human Body, Possession of Controlled Substance, Possession of Marijuana, Smuggling Trafficking in a correctional / care establishment, Battery on LEO, Ordered on 9/28
Gabrielle Ballenger, Criminal Threat, Criminal Property Damage, Battery, Arrested 9/27
Gabrielle Ballenger, Criminal threat, Criminal damage to property, Battery, Arrested on 09/27
Lisa Jimenez, criminal intrusion, resistance to arrest, arrested on September 24
Lisa Jimenez, criminal intrusion, resistance to arrest, arrested on September 24
Deayana Thompson, Protection Order Violation, Arrested September 30
Deayana Thompson, Protection Order Violation, Arrested September 30

Bonds have been deposited. Photos are not available.

Diana Pittman, Violation of Protection Order, Domestic Battery, Arrested 09/30

Cody Dodge, Failure to Appear, Arrested 09/30

Brannen Turner, Driving Under the Influence of Drugs / Alcohol, Interference with LEO; misdemeanor, Defective headlights on a motor vehicle, Driving a motor vehicle without a valid license, Arrested on September 29

Zackary McMurray, domestic battery, arrested September 29

Maribel Muro, domestic battery, arrested on 29/09

Remi Adewumi, Failure to appear, arrested on 09/29

Robert Enriquez, Do not yield at stop sign / give way, Driving a motor vehicle without a valid license, Arrested on 28/09

Ashley Brown, stalking, violation of protection order, arrested September 28

Hass Bahakim. Failure to appear, arrested on 09/28

Colin Jasper, Driving While Suspended, Arrested September 28

Myles Vaughn, Drug Paraphernalia Possession, Marijuana Possession, Canceled / Suspended / Revoked Driver’s License, No Signal / Dangerous Turn / Stop, Arrested September 28

Steven Roberts II, DUI-alcohol / drugs, transporting alcohol in open container, arrested on 09/29

Tomoque Williamson-Bey, Non-wearing of seatbelt, Driving in suspension, Arrested on September 27

David Carnahan, canceled / suspended / revoked driver’s license, arrested on September 27

Melissa Gilliland, Fail to Appear, Arrested September 27

Gregory Roelle, Failure to Appear, Arrested on 9/24

Glenn Benson, probation violation Arrested 9/24

Shannon Vega, False (2 counts), Theft by deception, Theft, Fabricating false information, Arrested on 9/24

Fallon Luthi, Failure to Appear, Arrested on 9/24

Ronald Phillips, Driving a motor vehicle without a valid license, Vehicles; driving a vehicle without a license or with an expired tag, Vehicle liability insurance required, Failure to yield at stop sign or give way, Stopped September 24

Alaye McMichael, Exceeding posted speed limit, Possession of marijuana, Possession of drug paraphernalia, Arrested on 25/09

Michael Powell Jr., Fail to Appear, Arrested 09/25

Jessie Kopietz, failure to appear, arrested on 25/09

Ashley Brown, aggravated assault, domestic battery, arrested 25/09

Deayana Thompson, Domestic Battery, Unlawful Damage to Property, Violation of Protection Order, Arrested 09/26

Christian Velez, DUI-alcohol / drugs, Possession of a firearm while intoxicated, Arrested on 09/26

Sean Wheatley, probation violation (2 counts), arrested September 26

Chasity Blocker, Home battery, Arrested 9/26

Jonathan Wilds Jr., Interference with LEO, arrested September 27

Recent booking activity for the Geary County Detention Center. Everyone included in this post is innocent of crimes until proven guilty by a court. Courtesy photos.

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ECA, African Finance Ministers and IMF discuss changes needed to global financial architecture to support economic recovery on the continent http://riotjs.com/eca-african-finance-ministers-and-imf-discuss-changes-needed-to-global-financial-architecture-to-support-economic-recovery-on-the-continent/ Sat, 02 Oct 2021 08:25:07 +0000 http://riotjs.com/eca-african-finance-ministers-and-imf-discuss-changes-needed-to-global-financial-architecture-to-support-economic-recovery-on-the-continent/

Dr Vera Songwe, United Nations Under-Secretary-General and Executive Secretary of the Economic Commission for Africa yesterday met African Ministers of Finance and IMF Executive Director Ms. Kristalina Georgieva to discuss how African member states can effectively use SDRs to support their efforts for a green, sustainable and inclusive recovery from the Covid 19 pandemic.

African finance ministers have recognized that the unprecedented issuance of the equivalent of $ 650 billion in SDRs offers a unique opportunity to improve fiscal buffers in most countries. However, on the basis of the current allocation formula, the resources directed to the African continent are not commensurate with their financing needs. All the more so as African economies are increasingly feeling the crunch of the pandemic on public finances.

Reiterating their commitment to national policy reforms to optimize the use of resources and strengthen the social contract between government and citizens, the finance ministers also highlighted the following priorities when discussing the global financial architecture to ensure the effectiveness of the recovery:

a)Innovative sustainable financing mechanisms: African ministers expressed concern that previous pledges to mobilize the USD 100 billion pledges had not been kept and called for more financial innovations to facilitate access to the essential resources needed to invest in a green recovery. This included supporting the capacity of African countries to issue green and blue bonds. The need to tackle the high debt levels of African countries was also highlighted, with debt-for-adaptation conversions offering potential avenues to address this issue.

b)Lend SDRs to low-middle-income and vulnerable countries through the Poverty Reduction and Growth Trust Fund: They called for at least 25-30% of the US $ 650 billion in SDRs to be retroceded to support low and vulnerable middle-income countries. The retroceded SDRs should support access to vaccines, finance the IMF‘s Poverty Reduction and Growth Trust which serves all low income countries.

vs)Improve access to vaccines: Establish a DTS funded the Vaccine Acquisition Facility to urgently address growing vaccine inequalities around the world. Support efforts to establish regional vaccine manufacturing centers to ensure sustainable supply, especially for high-risk groups.

D)Support affordable access to capital markets: Sovereign bond yields are excessive and incompatible with the market fundamentals of African economies which need improved and more affordable market access. The liquidity and sustainability facility (LSF) would be particularly needed to support recovery in middle-income countries with strong macroeconomic fundamentals. The LSF could stimulate investments in sustainable development in Africa: currently, Africa only attracts 1% of the global green bond market, estimated at more than 500 billion dollars. The LSF can catalyze additional investors by offering preferential rates on green bonds. The on-lent SDRs could contribute to the launch of this facility and the finance ministers called on the IMF to support this proposal.

e)Support the establishment of a RST: Ministers approved the Fund’s proposal to on-lend part of the SDRs to support the establishment of a resilience and sustainability fund aimed at providing long-term financing to low- and middle-income countries.

F)Carbon pricing: African ministers also took the opportunity to call for the establishment of a global carbon price aligned with the Paris Agreement. African countries contribute the least to global emissions while preserving some of the most important areas of biodiversity that are critical carbon sinks for all humanity. As such, African countries should be given the opportunity to take advantage of this critical role to raise finance to invest in climate resilience and green recovery for the benefit of their citizens. CEA have shown that an increase in the global carbon price to 50 USD per tonne (current prices are generally less than 5 USD per tonne) could make it possible to mobilize up to 30 USD billions of dollars in additional resources from just three sectors: climate-smart agriculture, clean cooking solutions and investments in renewable energy.

g)Rcapitalize development banks: support the recapitalization of multilateral development banks, in particular the AfDB and Afreximbank, and support the establishment of an African financial stability mechanism; and leveraging private development finance through capital markets.

h)Restructure the debt of the poorest countries: Continue to work on debt restructuring initiatives such as the G20 Common framework, in collaboration with countries, to propose mechanisms that accelerate implementation for countries in need of debt restructuring.

Distributed by APO Group on behalf of the United Nations Economic Commission for Africa (CEA).

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