Ericsson had said in 2014 it would diversify so that by 2020 up to 25 percent of revenue would come from industries beyond telecoms. But the plan has not worked and and the compnay will focus on the core business of mobile networks.
Speaking to CNBC-TV18, William Foster of Moody's said that NPA is a prolonged weakness that is still not addressed and there is no clear method in place to resolve the issue.
India will be the fastest growing economy among G-20 countries clocking a 7.1 per cent growth in 2017, Moody's Investors Service said today.
Moody's Investors Service today said that Reliance Communications' ratings will "remain on review for downgrade" despite the company signing an agreement with Canada-based Brookfield Infrastructure to sell its tower assets.
Moody's Analytics Knowledge Services unit is a provider of research and analytics services to global financial and corporate sectors, Moody's Corporation said in a statement while announcing the rebranding of the unit.
Moody's has downgraded credit rating of Reliance Communications from substantial credit risk scale to high credit risk scale on account of "weak performance" of the company.
The firm sees sustained economic growth, commissioning of additional production capacity and higher commodity prices that will boost corporate earnings in India.
Moody's, which has a 'Baa3' rating with a positive outlook, said evidence of policymakers working towards a faster fiscal consolidation, reducing the debt-GDP ratio and addressing infrastructure and monsoon volatility challenges will determine an upgrade, going forward.
The estimated actual impaired ration of banks now is 1-1.5 percent than reported numbers, believes Srikanth Vadlamani. Moody‘s had put this ration at 2.5-3 percent earlier.
Moody's Investors Service Senior VP Sovereign Risk Group Marie Diron said credibility and effectiveness of monetary policy are factors which impact India's sovereign ratings.
The company earned USD 11.5 on turning every barrel of crude oil into fuel compared to a GRM of USD 10.8 per barrel in the immediately preceding quarter while the Singapore benchmark slipped to USD 5 from USD 7.7 per barrel over the same period.
Moody's said India's banking system has witnessed an increase in non-performing assets (NPAs) since 2012, with many public sector banks (PSBs) having suffered significant deterioration in balancesheets as demonstrated by their asset quality metrics and capitalisation profile.
The government has announced Rs 70,000 crore capital infusion for 22 public sector banks by March 2019. Of this, 25,000 crore has already been injected and the government plans to infuse as much during the current fiscal.
"Bharti's Airtel Ltd's Baa3 rating is underpinned by the strong cash flow generation of its operations in India, particularly in wireless voice and data, where it enjoys a well-established and leading market position under the Airtel brand," Moody's said in its credit opinion.
Although Mauritius will lose a historical advantage, it does not lose a competitive advantage because the other key financial centre for investment in India, Singapore, will also be subject to similar capital gain changes.
Moody's Investors Service said that the Indian IT sector will maintain global market share gains, supported by a wider coverage and operating efficiency, albeit at a moderate pace.
In a report, Moody's said a history of double-digit inflation, elevated government debt, weak infrastructure and a complex regulatory regime have constrained India's credit profile.
High corporate leverage poses systemic risks if adverse growth and financial conditions pressure borrowers' repayment capacity, Moody's said, adding that the capital infusion by the government in PSU banks is likely to be larger than budgeted.
They could see negative pressure on their credit profile if the government does not revise upwards its capital infusion plans, Moody's Investors Service VP Financial Institutions Group Alka Anbarasu said.
RCom has plans to upgrade all its CDMA customers to 4G platform and it will primarily leverage RJio's network to offer the services.
"SBI is also showing a stabilization of its underlying asset quality, and we believe that recent developments provide further confirmation that it has moved past the worst of its latest asset cycle," Moody's said.
The bond sale is part of the bank's USD 7.5-billion global medium term note programme and is the first from a private sector domestic financial institution this year.
The proposed notes will constitute direct, unconditional, unsecured, and unsubordinated obligations of India-based ICICI Bank, S&P said in a statement.
The government has been meeting its fiscal deficit targets on the back of the aam aadmi instead of boosting the real incomes of the poor by cutting indirect taxes, Tharoor said.
According to the study, payment cards aren't just convenient, they help stimulate growth for economies around the world.