India's Eased Pollution Norms Favor Consumers, Power Lobby Says
The environment ministry eased its decade-old guidelines for the installation of filters that would remove sulfur from coal-fired plants' emissions, exempting nearly 167 gigawatts of coal-fired capacity, or 78% of the total fleet.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Yahoo
20 minutes ago
- Yahoo
AM Best Revises Outlooks to Positive for The People's Insurance Company of China (Hong Kong), Limited
HONG KONG, July 18, 2025--(BUSINESS WIRE)--AM Best has revised the outlooks to positive from stable and affirmed the Financial Strength Rating of A- (Excellent) and the Long-Term Issuer Credit Rating of "a-" (Excellent) of The People's Insurance Company of China (Hong Kong), Limited (PICC HK) (Hong Kong). The Credit Ratings (ratings) reflect PICC HK's balance sheet strength, which AM Best assesses as very strong, as well as its adequate operating performance, limited business profile and appropriate enterprise risk management. The ratings also reflect the strategic importance of the company to its parent, The People's Insurance Company (Group) of China Limited (PICC Group) (China). As the sole overseas insurance entity and a key component of PICC Group's overseas strategies, PICC HK receives implicit and explicit support from the parent, including business development, management personnel and financial support. The revision of the outlooks to positive from stable reflects continued improvement in PICC HK's business profile, as demonstrated by the enhanced market position and more diversified book of business. According to statistics published by its domestic regulator, PICC HK ranked 13th with a market share of 2.3% in terms of onshore and offshore combined gross premium written (GPW) in 2024. The company's GPW grew by 65% cumulatively from 2020 to 2024. The active expansion in inward reinsurance also has contributed to improved business diversification, which was concentrated moderately on a whole-account quote share (WAQS) sourced from its affiliated company, PICC Property and Casualty Company Limited (PICC P&C). The inward reinsurance business profile is diversified geographically with adequate profitability in the past four years. By leveraging the underwriting acumen and increasing synergies within the parent group, PICC HK expects the expanded business profile will be sustainable and profitable. PICC HK's risk-adjusted capitalisation, as measured by Best's Capital Adequacy Ratio (BCAR), remained at the strongest level at year-end 2024. The company's investment portfolio remains well-diversified, dominated by investment-grade bonds, cash and cash equivalents, and preference shares. Its investment strategy remains prudent, with limited exposure on unlisted funds and real-estate assets. Other supporting factors include a strong regulatory solvency position, as well as a strong liquidity position. PICC HK's operating performance remains adequate. It has maintained a mid-single digit return-on-equity ratio over the past two years. In 2024, the company's net profit was supported mainly by investment income consisting of mostly interest and dividend income. PICC HK also achieved positive underwriting results for 2024 as a result of the improved underwriting result of direct domestic business and a stable profit contribution from the WAQS. As the group's sole overseas insurance entity, PICC HK continues to be of strategic importance and plays a key role in the group's overseas strategies. There is a track record of multiple capital injections to PICC HK from PICC Group. In addition, the company continues to benefit from the group's resources and operational synergies, including business development, key management personnel, investment, information technology and overall risk management. Positive rating actions could occur if PICC HK's expanded business profile proves to be sustainable, while maintaining its underwriting profitability. Negative rating actions could occur if there is a decline in PICC HK's operating performance to a level that no longer supports AM Best's adequate operating performance assessment. Although unlikely, negative rating actions could occur if the support PICC HK receives from its parent weakens notably or the parent's credit fundamentals deteriorate materially. Ratings are communicated to rated entities prior to publication. Unless stated otherwise, the ratings were not amended subsequent to that communication. This press release relates to Credit Ratings that have been published on AM Best's website. For all rating information relating to the release and pertinent disclosures, including details of the office responsible for issuing each of the individual ratings referenced in this release, please see AM Best's Recent Rating Activity web page. For additional information regarding the use and limitations of Credit Rating opinions, please view Guide to Best's Credit Ratings. For information on the proper use of Best's Credit Ratings, Best's Performance Assessments, Best's Preliminary Credit Assessments and AM Best press releases, please view Guide to Proper Use of Best's Ratings & Assessments. AM Best is a global credit rating agency, news publisher and data analytics provider specialising in the insurance industry. Headquartered in the United States, the company does business in over 100 countries with regional offices in London, Amsterdam, Dubai, Hong Kong, Singapore and Mexico City. For more information, visit Copyright © 2025 by A.M. Best Rating Services, Inc. and/or its affiliates. ALL RIGHTS RESERVED. View source version on Contacts Aaron Li Financial Analyst +852 2827 3426 Lucie Huang Senior Financial Analyst +852 2827 3414 Christopher Sharkey Associate Director, Public Relations +1 908 882 2310 Al Slavin Senior Public Relations Specialist +1 908 882 2318 Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
20 minutes ago
- Yahoo
July preliminary consumer sentiment: What it means for the Fed
Preliminary consumer sentiment ticked up in July, beating expectations with a reading of 61.8, according to data from the University of Michigan. Brian Jacobsen, chief economist and strategist at Annex Wealth Management, explains how this shift in sentiment could influence the Federal Reserve. To watch more expert insights and analysis on the latest market action, check out more Market Catalysts here. Brian, we did just get some numbers on consumer confidence from the University of Michigan. This was the July preliminary numbers. So the the first look here at July and it came in a little stronger than economists had forecast and stronger than June. 61.8 was the reading here. Um so seeing and seeing the sort of expectations for inflation ticking a little bit lower than they had been, what do you make of of that consumer sentiment? We also, of course, had retail sales this week. So what's that picture looking like? Sure. So if you think about the June data for industrial production and retail sales, stronger than expected, but some of that was just a bounce back. Now, the sentiment data, I think is really important, especially the inflation expectations component, because I think that's one of the things that Chair Powell has been hanging his hat on in terms of justifying a pause, is that inflation expectations had been moving up, they're kind of high, and he wants to fight against that. And so if those are now drifting lower, uh really the argument for the Fed staying on pause kind of goes to the side and maybe they should get to more of a neutral stance instead of a restrictive stance. And it's understandable why sentiment would have improved because really, I think we've become a little numb to the tariff talk, realizing that this is going to play out. Maybe it's not going to be as bad as what it was originally presented back on April 2nd in the Rose Garden. If we settle somewhere between 10 and 15%, it's not great, but it could be worse. So Brian, as you look at all of these various elements, what do you think is the the biggest risk for the market right now? Yeah, well, I think that the biggest risk right now is the valuations. When we look at the fundamentals, think that those will be improving, but how much are you paying for those fundamentals? So, as we go through earning season, I expect that we're going to be seeing a lot of volatility in terms of the companies that are meeting expectations, probably fine, but the misses are probably going to get punished a lot more than usual. I don't think investors have the patience to really deal with companies that are missing with any of those estimates. Um, really interesting. Good to watch if companies are are missing and what happens then. Brian, good to see you. Thanks so much. Thank you. Related Videos US Consumer Sentiment Rises to a Five-Month High Netflix Q2 earnings are 'really solid' but not 'spectacular' Waller Explains Why Fed Should Cut Rates Now Markets signal that firing Powell is one line Trump can't cross Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
20 minutes ago
- Yahoo
Wilmar to become AWL Agri majority shareholder
Wilmar International is set to become the majority owner of India-based AWL Agri. The Singapore group has agreed to buy more shares in the Fortune edible-oils maker from Indian conglomerate Adani Enterprises. Wilmar International and Adani Enterprises had been partners in the former Adani Wilmar venture until December. Adani Enterprises decided to leave the alliance to invest further in energy, utilities, transport and logistics. At the time, Wilmar International struck a deal buy 31.1% of the venture, which has been renamed AWL Agri. A month later, Adani Enterprises sold another 13.5% stake. In a stock-exchange filing yesterday (17 July), Wilmar said it held 43.9% of AW Agri, with Adani Enterprises retaining 30.4%. Wilmar has agreed to purchase another tranche of shares, representing a further 11-20% of AWL Agri, at Rs275 ($3.19) a share. When this new deal is finalised, Wilmar will hold between 54.9% and 63.9% of the business. The company said it will 'endeavour to bring in strategic partners/ identified investors' for the chunk of the new stake it does not take up. The remaining 10.4% Adani Enterprises owns in AWL Agri will be sold 'to a set of pre-identified investors', the Indian group said. Established in 1999, the now AWL Agri is headquartered in Ahmedabad. The business runs 24 factories in 15 cities. Its operations span edible oils, a wider range of food products and a third division called Industry Essentials, which takes in chemicals. Earlier this week, AWL Agri reported its fiscal first-quarter results covering the three-month period to the end of June. Revenue rose 22% to Rs17.06bn despite a 2% fall in volumes. The company booked higher revenues across its three divisions, although volumes from its edible oils and food and FMCG units fell. 'The company witnessed a temporary volume decline, primarily influenced by the consolidation of its regional rice operations and muted consumer demand. Encouragingly, the core categories delivered healthy volume growth and revenue rose 21% year on year, driven by higher edible oil realisations,' MD and CEO Angshu Mallick said. Profit after tax fell 24% to Rs238m. Last month, Wilmar agreed to acquire UK consumer goods company PZ Cussons' 50% equity stake in their Nigerian edible-oils joint venture for a cash consideration of $70m. "Wilmar to become AWL Agri majority shareholder" was originally created and published by Just Food, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site.
