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Russia's floating nuclear power plant, Akademik Lomonosov, leaving the service base Rosatomflot on August 23, 2019. For some experts, nuclear energy — in all forms, large or small — has an important role to play in that transition. Globally, the construction of conventional nuclear power plants dipped following the Chernobyl meltdown in 1986. Russia has already built or designed nuclear plants — the traditional type — for China, India, Bangladesh, Turkey, Slovakia, Egypt and Iran. “It certainly dampens the excitement abroad,” said John Parsons, a senior lecturer at MIT and a financial economist focused on nuclear energy.
Persons: Akademik Lomonosov, Biden, Lomonosov, Maxim Shemetov, “ There’s, , Josh Freed, China —, Vladimir Putin’s, Bill Gates ’, Luo Yunfei, Kirsten Cutler, they’re, Cutler, ” Cutler, They’re, John Parsons, John Kerry, Thomas Mukoya, Way’s Freed, , ” Parsons, Mohammed Hamdaoui, ” Hamdaoui, “ It’s Organizations: CNN, Reuters, European Union, International Energy Agency, Energy, World Nuclear, IEA, US, SMR, US Export, Import Bank, International Development Finance Corporation, GE Hitachi Nuclear Energy, China, Changjiang, China News Service, Nuclear Energy, US State Department, , MIT, InfluenceMap, The State Department, Nuclear Regulatory Commission, NRC, Rystad Energy Locations: Alaska, Russian, Russia, China, European, Japan, India, South Korea, Europe, Dubai, America, Poland, North Carolina, Southeast Asia, Bangladesh, Turkey, Slovakia, Egypt, Iran, Lomonosov, Siberia, Russia’s, Washington, Bill Gates ’ TerraPower, Wyoming, Changjiang Li Autonomous County, Hainan province, United States, Oregon, Idaho, United Arab Emirates
[1/2] Fishermen go out to sea after Ecuador's goverment expanded the protected marine area around the Galapagos Islands, Ecuador January 24, 2022. REUTERS/Santiago Arcos Acquire Licensing RightsLONDON, Dec 4 (Reuters) - A consortium of top multilateral development banks (MDB) and climate funds launched a global "task force" on Monday to scale up the number and size of 'debt-for-nature' swaps that countries can do. It will initially be led by the Inter-American Development Bank (IDB) and the U.S. International Development Finance Corporation (DFC), lenders which between them have been involved in all the recent swaps, also including Barbados and Gabon. The Asian Development Bank, the African Development Bank, France's Agence Française de Développement, and the European Investment Bank will also be part of the task force, as well as the Green Climate Fund and the Global Environment Facility. Development banks play a particularly important role in debt-for-nature swaps because they provide the credit guarantees and/or political risk insurance that make them viable.
Persons: goverment, Santiago Arcos, Ilan Goldfajn, Scott Nathan, Marc Jones, Kirsten Donovan Organizations: REUTERS, Santiago, Reuters, Inter, American Development Bank, U.S . International Development Finance Corporation, Asian Development Bank, African Development Bank, France's Agence Française, European Investment Bank, Climate Fund, Global, Thomson Locations: Ecuador, Belize, Barbados, Gabon
US DFC considers $500 mln loan to Vietnamese EV maker VinFast
  + stars: | 2023-12-04 | by ( ) www.reuters.com   time to read: +1 min
A Vinfast electric vehicle store is shown at one of the company's retail locations in San Diego, California, U.S.,October 20, 2023. REUTERS/Mike Blake/File Photo Acquire Licensing RightsHANOI, Dec 4 (Reuters) - The United States International Development Finance Corporation (DFC) has signed a letter of interest with electric vehicles maker VinFast to consider the Vietnamese company's application for a $500 million loan for expansion, VinFast said on Monday. The loan, which will be used to support VinFast's establishment of lithium-ion battery manufacturing facilities in Vietnam, is subject to a comprehensive review and approval process by DFC, the carmaker said in a statement. DFC said on X, formerly Twitter, that it had signed the letter of interest to support VinFast's lithium-ion battery facilities in Vietnam, but did not provide details. The project will be the first in a series of initiatives actively discussed by the two parties, VinFast said.
Persons: Mike Blake, VinFast, Phuong Nguyen, Kanupriya Kapoor Organizations: REUTERS, Rights, United States International Development Finance Corporation, Vietnam's, Nasdaq, Thomson Locations: San Diego , California, U.S, Rights HANOI, Vietnam, California, Southeast Asia
A U.S. foreign development agency announced on Wednesday it would lend $553 million to establish a deepwater shipping-container terminal at the Port of Colombo in Sri Lanka, expanding America’s effort to finance infrastructure around strategic parts of Asia. Adani will help develop the terminal with Sri Lankan partners. The money from the U.S. International Development Finance Corporation resembles the kind of big-ticket deals that China’s development banks have struck around the world over the past decade. Under its Belt and Road Initiative, central to the foreign policy of President Xi Jinping, China made loans to build up ties around Asia, including in Sri Lanka. The Development Finance Corporation was created during the Trump administration to bankroll international infrastructure projects, cooperating with the State Department to support U.S. foreign policy and curb Chinese influence.
Persons: Narendra Modi, Adani, Xi Jinping, Trump Organizations: Port, Adani, Sri, U.S . International Development Finance Corporation, Initiative, Development Finance Corporation, State Department Locations: Colombo, Sri Lanka, Asia, India, China, United States
Traffic moves past the logo of the Adani Group installed at a roundabout on the ring road in Ahmedabad, India, February 2, 2023. REUTERS/Amit Dave/File Photo Acquire Licensing RightsCOLOMBO, Nov 8 (Reuters) - The U.S. International Development Finance Corporation (DFC) said it will provide $553 million financing for a Colombo port terminal project, partly owned by India's Adani Group, advancing the first foray by an Indian company into the sector. Ports-to-edible oils Adani group, controlled by Indian billionaire Gautam Adani, holds a 51% stake in the west container terminal of the port, which also has a terminal run by China Merchants Port Holdings Co Ltd (0144.HK). India extended about $4 billion in swaps and credit lines to Sri Lanka last year, providing critical support to import fuel, medicine and fertiliser during the worst of the crisis. Sri Lankan conglomerate John Keells Holdings owns 34% of the WCT and the rest is held by the state-run Sri Lanka Ports Authority (SLPA).
Persons: Amit Dave, Gautam Adani, Scott Nathan, Uditha Jayasinghe, Kim Coghill Organizations: Adani, REUTERS, Rights, U.S . International Development Finance Corporation, India's Adani, China Merchants Port Holdings Co, HK, West, John Keells Holdings, WCT, Sri Lanka Ports Authority, Thomson Locations: Ahmedabad, India, Colombo, Indian, Sri Lanka, China, Sri
China’s early, rapid expansion of the Belt and Road Initiative alarmed U.S. officials, who saw the program as eroding American influence. The Trump administration and Congress merged and expanded two agencies in 2018 to create the development finance corporation. Between 2014 and 2017, AidData found, China was providing nearly three times as much development financing as the United States. But by 2021, China was outspending the United States by only 30 percent. (The American loan for up to $553 million would be for expansion of the busy port in Colombo, Sri Lanka’s capital and main city.)
Persons: Trump, China’s, AidData, Mahinda Rajapaksa Organizations: United States International Development Finance Corporation, Initiative Locations: Greece, Sri Lanka, China, United States, Hambantota, Colombo, Sri
Oct 26 (Reuters) - Australian producer Syrah Resources (SYR.AX) on Thursday said it expects buyers outside of China to step up their purchases of natural graphite before stricter export controls on the battery material came into effect on December 1. China, the world's largest graphite producer and exporter, will require export permits as of Dec. 1 for some graphite products, including spherical graphite used by electric vehicle makers. The export controls could mean that automakers and suppliers of battery materials will have to accelerate their search for alterative sources of the mineral. Syrah said that, based on feedback from its customers and analysts, buyers are looking to stockpile graphite to reduce the risk of near-term supply disruptions ahead of the ban, and ahead of China's winter when it tends to produce less natural graphite. "Any disruption or reduction in China anode precursor or AAM export supply without replacement supply would impact battery production outside China," it said.
Persons: Roushni Nair, Melanie Burton, Miral Organizations: Syrah Resources, Tesla, AAM, U.S . International Development Finance Corporation, Thomson Locations: Australian, China, Mozambique, Louisiana, Balama, United States, Bengaluru, Melbourne
LONDON/Johannesburg, Aug 30 (Reuters) - Gabon's dollar-denominated bonds fell by more than 13 cents on Wednesday after the military said it had seized power in the west African nation, according to Tradeweb data. The 2025 maturity fell the most, by 13.238 cents on the dollar to 79.673 cents at 0724 GMT. A group of senior military officers in Gabon claimed to have seized power in the early hours of Wednesday, minutes after the Central African state's election body announced that President Ali Bongo had won a third term. Gabon completed a $436 million "debt for nature" swap earlier this month, where it exchanged parts of the 2025 and 2031 Eurobonds for a "blue bond" maturing in 2038. Reporting By Libby George and Rachel Savage; Editing by Amanda Cooper and Conor HumphriesOur Standards: The Thomson Reuters Trust Principles.
Persons: Ali Bongo, Libby George, Rachel Savage, Amanda Cooper, Conor Humphries Organizations: Central African, U.S . Development Finance Corporation, Thomson Locations: Johannesburg, Gabon
Gabon completed mainland Africa’s first-ever “debt-for-nature swap” Tuesday, refinancing $500 million of its debt and earmarking $163 million in savings for marine conservation, the latest in a burgeoning list of “blue bond” deals. In their place, Gabon issued a $500 million blue bond which matures in 2038. The coupon on the new blue bond was priced at 6.097%, lower than the coupons on the repaid bonds which were between 6.625%-7%. TNC says its blue bond deals have provided $400 million toward conservation efforts. Bank of America, which served as sole initial purchaser, structuring agent and bookrunner on the Gabon deal, declined to reveal its transaction fees.
Persons: Gabon’s, Bond, , Ali Bongo Ondimba, TNC wasn’t, Scott Nathan, TNC, Will Horner Organizations: , Sustainable Business, Moody’s Investors Service, U.S . International Development Finance Corporation, Conservancy, Greenpeace, Bank of America Locations: Gabon, Africa, U.S, Belize, Seychelles, Barbados, Ecuador, Galápagos, william.horner
LONDON/JOHANNESBURG, July 25 (Reuters) - Gabon launched what is set to be Africa's first debt-for-nature swap on Tuesday, with a plan to buy up at least $450 million of its government debt and switch it to an eco-friendly blue bond. The February 2031 maturity rose 2.203 cents to 83.702 cents and November 2031 maturity jumped 2.129 cents to 83.573 cents, compared to Gabonese government's offer to buy back the bonds for 85 cents per $1 of the bond. ,The 2025 maturity rose 1.194 cents to 95.4 cents, also still below the offer price of 96.75 cents.. Ecuador pulled off a record $1.1 billion debt-for-nature swap in May, freeing up $18 million annually for the next 20 years for conservation of the Galapagos Islands. The African Development Bank and European Investment Bank are interested in providing credit guarantees.
Persons: Marc Jones, Rachel Savage, Gerauds Wilfried Obangome, Karin Strohecker, Ed Osmond, Tomasz Janowski Organizations: London Stock Exchange, Republic, Industry, U.S . International Development Finance Corporation, African Development Bank, European Investment Bank, Bank of America, Thomson Locations: JOHANNESBURG, Gabon, Gabonese, Ecuador, Belize, Galapagos, Sri Lanka, Indian, Libreville
Major economies were hit by higher inflation during the Covid-19 pandemic, but India's inflation was already elevated. In June, India's inflation rate was 4.81%, which remains within the Reserve Bank of India's tolerance band of 2% to 6%. There is a paradigm shift and flight of capital from Indian households savings to equity to contribute to the India growth story," Azeez told CNBC's "Squawk Box Asia" last week. "So whichever way one looks at the economic numbers, India appears as an oasis in the global desert," he added. watch nowHowever, Matthew Asia's Mittal said that instead of buying into pharmaceutical companies, upstream companies such as Syngene will be a good investment opportunity.
Persons: Goldman Sachs, Darren Robb, Feroze Azeez, Anand, Azeez, CNBC's, Nifty, it'll, Soumya Rajan, Peeyush Mittal, Nilesh Shah, Shah, Financials, Rajan, Waterfield's Rajan, We've, we've, Hindenburg, Matthews, Mittal, India's, Nestle, Kotak's Shah, Punit Paranjpe, Matthew Asia's Mittal Organizations: Bank, Getty, Wealth, Reserve Bank, Monetary Fund, Waterfield, Matthews Asia, CNBC, Mahindra Asset Management, IDFC, IDFC Ltd, HDFC Bank, Housing Development Finance Corporation, India's HDFC Bank, ICICI Bank, Bajaj Finance, Mahindra Finance, Nestle, World Bank, Nurphoto, Hindustan Unilever, Britannia Industries, Manufacturing Global, Godrej Aerospace, Afp Locations: India, United Kingdom, Japan, Mumbai, China, Nestle India, LuLu, Lulu, Kerala
155 shares of IDFC First Bank will be alloted for 100 shares of IDFC according to an Indian media report. India's IDFC First Bank expects to see robust credit growth following its recent merger, according to managing director and CEO V. Vaidyanathan. Last week, IDFC First Bank said its board had approved its merger with IDFC Ltd. , the latest in a wave of consolidation in India's financial sector. "For India's credit market, let me say about a 15% credit growth would be a fair expectation in the near future. And for our bank, a 25% credit growth would be a fair expectation with stable asset quality."
Persons: India's, Vaidyanathan, CNBC's Organizations: IDFC, Bank, IDFC Ltd, HDFC Bank, Housing Development Finance Corporation Locations: Mumbai, India
In this article HDFC-INHDFCBANK-IN Follow your favorite stocks CREATE FREE ACCOUNTThe merger between HDFC Bank and HDFC now makes the entity the world's fourth largest bank. Nurphoto | Nurphoto | Getty ImagesThe merger between India's HDFC Bank and the Housing Development Finance Corporation (HDFC) will increase the entity's customer base and provide more opportunities for cross-selling, the non-executive director of HDFC Bank told CNBC. HDFC, India's largest mortgage lender, merged with HDFC Bank, the country's biggest private lender, in a $40 billion deal which took effect on July 1. HDFC Bank has around 83 million customers but only 2% have a housing loan with HDFC. HDFC Bank is currently India's second most valued company by market cap after Reliance Industries .
Persons: HDFC, Keki Mistry, Mistry Organizations: HDFC Bank, Nurphoto, India's HDFC Bank, Housing Development Finance Corporation, CNBC, HDFC, Mortgage, JPMorgan Chase, Industrial, Commercial Bank of China, Bank of America, Reliance Industries Locations: India, China, South East Asia
In this article HDFCBANK-IN Follow your favorite stocks CREATE FREE ACCOUNTA HDFC Bank branch in Mumbai, India, on Friday, April 14, 2023. Bloomberg | Bloomberg | Getty ImagesIndia's largest private lender HDFC Bank has completed its merger with Housing Development Finance Corporation , the country's biggest mortgage lender, in a deal that pits the new entity against the world's largest banks. HDFC shareholders will receive 42 shares of HDFC Bank for every 25 shares they own, and HDFC will cease operations on the Indian stock market on 13 July. In a presentation to HDFC investors, the mortgage lender outlined synergies including access to lower funding costs, operational efficiencies and a wider distribution network for HDFC. There will also be cross-selling opportunities as 70% of HDFC's customers do not have a banking account with HDFC Bank, according to the presentation.
Persons: Soumya Rajan, Nilesh Shah, HDFC, Rajan, Shah Organizations: Bloomberg, Getty, HDFC Bank, Housing Development Finance Corporation, JPMorgan Chase, Industrial, Commercial Bank of China, Bank of America, Waterfield Advisors, Mahindra Asset Management, Reliance Industries, CNBC Locations: Mumbai, India, HDFC
Mega-merger gives Indian lender new lease on life
  + stars: | 2023-06-20 | by ( Shritama Bose | ) www.reuters.com   time to read: +4 min
HDFC Bank (HDBK.NS), the country’s largest private lender, is set in July to complete its merger with its parent, partner and 26% shareholder Housing Development Finance Corporation (HDFC) (HDFC.NS). That’s a great opportunity for the larger, streamlined HDFC Bank – until now it sold most home loans it originated to its parent. However, the share of mortgages in HDFC Bank’s portfolio will rise close to 30%, compared to SBI’s 20%. HDFC Bank remains a fixer-upper in a couple of important respects, though. Housing Development Finance Corporation created HDFC Bank in 1994 and remains a 26% shareholder.
Persons: Sashidhar Jagdishan, That’s, HDFC, Jagdishan, Breakingviews, Srinivasan Vaidyanathan, Antony Currie, Thomas Shum Organizations: Reuters, HDFC Bank, Housing Development Finance Corporation, , Bank of India, Mahindra Bank, Reserve Bank of India, Thomson Locations: MUMBAI, Asia, China, United States, watchdogs, Credila
The growing appetite comes as record numbers of developing world governments face debt pressures due to higher global interest rates. There have been around 140 over the past 35 years, but even including last month's super-sized Galapagos deal they have only involved around $5 billion of debt altogether. The top-level attendees will be urged to do more, not only debt swaps, but also by providing foreign exchange guarantees and automatic debt-payment breaks for countries hit by climate-related disasters. "Seeing something that has a group of countries involved would be amazing," Issa said. Ecuador says it is eyeing another transaction to capitalise on the halo effect from the Galapagos deal.
Persons: Ramzi Issa, Charles Darwin's, Issa, Ilan Goldfajn, Scott Nathan, Nathan, Emmanuel Macron, Mia Mottley, Suisse's Issa, Simon Jessop, Sharon Singleton Organizations: Ecuador, Credit Suisse, Inter, American Development Bank, U.S . International Development Finance Corporation, Reuters Graphics, Thomson Locations: Ecuador, Belize, Barbados, Gabon, Paris, Sri Lanka, Indian, Colombia, Costa Rica, Panama, Kenya, Mozambique, Tanzania, Seychelles
Ambani’s finance listing will measure disruption
  + stars: | 2023-05-11 | by ( Shritama Bose | ) www.reuters.com   time to read: +3 min
Back in 2019 the boss of $200 billion Reliance Industries (RELI.NS) had pledged to spin out its giant retail and digital units. He has since lured big strategic and financial investors including Meta (META.O), Alphabet’s (GOOGL.O) Google and KKR (KKR.N)into those businesses. Jio Financial could be listed as soon as September. The entity will be renamed Jio Financial Services. Jio Financial will list as soon as September, a person familiar with the situation told Breakingviews.
The Nifty 50 (.NSEI) was up 0.81% at 18,215.75 as of 10:04 a.m. IST, while the S&P BSE Sensex (.BSESN) rose 0.87%. Nifty Bank (.NSEBANK) and Nifty Private Bank (.NIFPVTBANK) also gained over 1%. On Monday, IndusInd Bank Ltd (INBK.NS) rose nearly 5% and was the top Nifty 50 gainer. Analysts expect the Nifty 50 to witness consolidation in the near-term with resistance seen near 18,200 levels. read more($1 = 81.7330 Indian rupees)Reporting by Bharath Rajeswaran in Bengaluru; Editing by Sonia CheemaOur Standards: The Thomson Reuters Trust Principles.
India's HDFC beats Q4 profit estimates on home loan demand
  + stars: | 2023-05-04 | by ( ) www.reuters.com   time to read: +2 min
HDFC said profit after tax rose to 44.26 billion rupees ($541.09 million) for the three months ended March 31, from 37 billion rupees a year earlier. Analysts, on average, had expected profit after tax of 38.86 billion rupees, according to Refinitiv IBES data. The lender said it provided individual loans worth 93.40 billion rupees during the quarter, compared with 83.67 billion rupees a year earlier. HDFC is on track to merge with India's largest private lender HDFC Bank Ltd (HDBK.NS). The RBI in April allowed HDFC and HDFC Bank selective regulatory relief in order to smooth out the merger between the two entities.
India's HDFC is in fine shape for its big deal
  + stars: | 2023-04-17 | by ( ) www.reuters.com   time to read: +2 min
HDFC Bank’s (HDBK.NS) net interest income rose 20% year-on-year in the three months to March. The $116 billion financier’s mix of deposits points to some niggles. As interest rates rise, savers tend to move idle funds from low-yielding checking accounts to fixed deposits, where money is locked up for a specific period against juicier interest rates. For now, the hotly watched net interest margin, unchanged at 4.3% for the last nine months, is holding up. They do not reflect the views of Reuters News, which, under the Trust Principles, is committed to integrity, independence, and freedom from bias.
Water’s big moment risks getting lost in the weeds
  + stars: | 2023-03-20 | by ( Antony Currie | ) www.reuters.com   time to read: +6 min
The latest is research published last Thursday by the Global Commission on the Economics of Water. The sum, though, is just $140 million, and the U.S. government’s International Development Finance Corporation is pouring in three-quarter of the proceeds. But there is a decent investment case for water without state or supranational support. Without them, water’s big moment risks getting lost in the weeds. Follow @AntonyMCurrie on TwitterCONTEXT NEWSThe United Nations 2023 Water Conference starts on March 22, World Water Day, in New York.
Feb 21 (Reuters) - The House Foreign Affairs Committee will hold a hearing next Tuesday with top officials on China policy to identify gaps in pursuing what it called a "more holistic approach" to countering aggression by the Chinese Communist Party. The hearing, announced by the panel's chair, Representative Michael McCaul, a Republican, is called, "Combating the Generational Challenge of CCP Aggression." Alan Estevez, the U.S. Commerce Department's under secretary for industry and security, who oversees restrictions on tech exports to China, is among the witnesses. McCaul has been pressing Estevez on the need to ensure China is not transferring U.S.-origin technology to state sponsors of terrorism, and has called for tighter restrictions on exports to blacklisted companies like China's Huawei, which are viewed as a threat to U.S. national security. Reporting by Karen Freifeld; Editing by David GregorioOur Standards: The Thomson Reuters Trust Principles.
Congress' sweeping spending bill for next year includes $1 billion for international climate aid. "This really undermines trust in the US," Joe Thwaites, NRDC's international climate finance advocate who conducted the group's analysis, told Insider. But the US commitments on international climate finance just aren't credible." Democrats have a slim majority in the Senate and need at least 60 votes to clear a spending bill. Neither the House and Senate Appropriations committees, nor the White House, returned Insider's request for comment.
"There's now a big push to get nature into sovereign debt markets," said Simon Zadek, executive director at NatureFinance, which advises governments on debt-for-nature swaps and other types of climate-focused finance. At that level, it would be the biggest debt-for-nature swap struck to date. The combined value of swap deals to date is $3.7 billion, according to the data. Securing the buy-in of development banks is usually key for the economics of a deal. The WWF has projects in Central and South America where they are monitoring deforestation by tracking jaguars, said Brenes, who has worked on debt-for-nature swaps for the last 25 years.
România a identificat interesul SUA şi pentru o componentă de finanţare de 7 miliarde de dolari pentru dezvoltarea proiectelor din domeniul energetic printr-un Memorandum de Înţelegere cu Exim US. În plus, se creează cadrul unei ample cooperări între România şi SUA în domeniul nuclear civil. În acelaşi timp, ne dorim ca pe lângă partenerii americani să îi avem parteneri şi pe canadieni şi francezi. Dovedim astăzi că se pot obţine parteneriate serioase, predictibile, dacă există voinţă politică şi muncă susţinută. Vreau să mulţumesc tuturor celor care s-au implicat pentru ca acest acord şi memorandumul să devină realitate.
Persons: Dan Brouillette, Russell, Popescu ., Klaus Iohannis, Donald Trump, Ludovic Orban, Adrian Zuckerman, Popescu Organizations: US, NATO, Economiei, Energiei, Washington DC, United States International Development Finance Locations: România, SUA, Washington, Cernavodă, Statele Unite ale Americii, Statelor Unite ale Americii, relaţia, ţara
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