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Reuters
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Japan finance minister aware of market concerns about fiscal health
July 18 (Reuters) - Japanese Finance Minister Katsunobu Kato said on Friday he was aware of bond market concerns about the country's fiscal policy ahead, in the build-up to an upper house election where the minority government is poised for another setback. Japanese government bonds plunged this week, sending yields on 30-year debt to an all-time high, after polls showed Prime Minister Shigeru Ishiba's coalition was in danger of losing its majority in the upper house vote on Sunday. "I'm aware of bond market views that the recent market movements reflect various concerns about fiscal policy ahead," Kato said, speaking to reporters after the meeting of finance leaders from the Group of 20 major economies in South Africa. "We'll carefully respond to those market voices, carry out appropriate debt management and work to improve fiscal health to maintain market confidence," Kato said.
Reuters
21 minutes ago
- Reuters
India's IndusInd Bank to consider raising funds
July 18 (Reuters) - IndusInd Bank ( opens new tab will consider a proposal to raise funds by issuing long-term bonds at its board meeting on July 23, the Indian lender said on Friday. The board will consider issuing the bonds on a private placement basis and whether to increase capital through depository receipts and qualified institutional placements. The bank took a $230 million hit in the fiscal year ended March 31 due to years of misaccounting of internal derivative trades, prompting the resignations of CEO Sumant Kathpalia and deputy Arun Khurana in April. It has shortlisted senior bankers from three other financial organizations, including HDFC Bank ( opens new tab, for the position of CEO, Reuters reported in June.
Reuters
an hour ago
- Reuters
Chinese automakers should pursue 'rational competition' in EV industry, official says
BEIJING, July 18 (Reuters) - Major automakers should push for "rational competition" in the electric vehicle industry, a senior Chinese official said on Thursday, according to a statement from the industry ministry published on Friday. The comments from Che Jun, head of a Communist Party central leading group, came a day after China's cabinet pledged to regulate what it called "irrational" competition in the EV market and vowed to strengthen price-monitoring. Che Jun spoke at a meeting attended by officials from the industry ministry and representatives from automakers BYD ( opens new tab and BAIC Group ( opens new tab. Authorities in China have urged companies to stop excessive competition in the auto industry and in more recent regulatory comments, described such competition as "irrational." On Friday, China's industry ministry, market regulator and state planner jointly held a separate meeting on the EV industry's development with representatives from 17 key auto enterprises, automobile industry association and local officials.
