Latest news with #DCMs
New Indian Express
09-05-2025
- Politics
- New Indian Express
HYDRAA gets its first police station
HYDERABAD: Advising HYDRAA to treat the poor and downtrodden with humanity and compassion while removing unauthorised encroachments on water bodies and government lands, Chief Minister A Revanth Reddy inaugurated the first HYDRAA police station at Buddha Bhavan in Secunderabad on Thursday. He urged officials to bring cases involving the poor to the state government's notice for alternative arrangements. Stressing that Hyderabad Disaster Response and Assets Protection Agency (HYRAA) must show no leniency toward the rich and elite encroachers, he instructed officials to act responsibly and not treat their duty as just a job. The chief minister also unveiled new vehicles for HYDRAA including DCMs, Scorpio cars and bikes. He clarified that HYDRAA is not a demolition agency but was established to protect public property, as illegal encroachments are blocking nalas and causing floods even during minor rainfall. Refuting claims that real estate is declining due to demolition drives, he said the government is, in fact, boosting the sector by developing an IT park on 400 acres in Kancha Gachibowli. He questioned why some political parties were opposing these initiatives under the guise of environmental protection. Accuses BJP of obstructing riverfront project Lashing out at the BJP, he accused them of obstructing the Musi Riverfront Development Project, which aims to rejuvenate the 55-km stretch of the polluted Musi river. 'They are cleaning Sabarmati in Gujarat, the Ganga in UP, and Yamuna in Delhi. Why stop Telangana from restoring Musi?' he asked. 'If the BJP does it, it's right. But if Congress does it in Telangana, is it wrong?' he asked, stating, 'If you have a grievance against me, take it up with me. But don't prevent good things from happening. Let's work together to preserve our heritage and revive the city,' he said.
Hans India
08-05-2025
- Politics
- Hans India
CM Revanth Reddy Inaugurates First Hydraa Police Station in Hyderabad
On May 8, CM Revanth Reddy opened the first Hydraa Police Station in Hyderabad. The station will help protect important government land like ponds, parks, and other public areas. The opening ceremony took place at Hydraa Bhavan, which is next to Buddha Bhavan. Many important people were there, including Hydra Commissioner Ranganath, Government Advisor Narender Reddy, Mayor Vijayalakshmi, and other officials. During the event, CM Revanth Reddy was saluted by the Hydraa Police. He also unveiled new vehicles, such as DCMs, Scorpio cars, and bikes, for the Hydraa Police. These new vehicles will help the police do their jobs better and faster. After that, CM Reddy visited the Hydraa Police Station. Commissioner Ranganath showed him around and explained how different departments in the station will work to keep the city safe.
Arab News
30-04-2025
- Business
- Arab News
GCC share of emerging-market dollar debt jumps to 35% in Q1
RIYADH: Gulf Cooperation Council countries accounted for over 35 percent of all emerging-market US dollar debt issued in the first quarter of the year— excluding China— marking a sharp increase from around 25 percent in 2024, a new report revealed. In its latest analysis, Fitch Ratings forecast that the share is expected to continue rising through 2025 and 2026 as regional governments and corporations increasingly turn to debt capital markets for funding diversification, project finance, and budget support amid fiscal pressures and global economic uncertainty. The report stated that the total value of the GCC DCM exceeded $1 trillion across all currencies by the end of the first quarter, marking a 10 percent year-on-year increase. Issuance reached $89 billion in the first three months of the year, up 11 percent from the previous quarter but down 3 percent compared to the same period of 2024. Despite a slowdown in activity since early April, Fitch noted 'a healthy pipeline' is developing, supported by strong regional and Islamic investor liquidity. 'The GCC DCM continues to be fragmented among its six member countries in its maturity, depth, and credit profile, with Saudi Arabia and the UAE the most mature,' the report stated. 'In Kuwait, Qatar, Bahrain, and Oman, the lack of a link with international central securities depositories such as Euroclear or Clearstream partly hinders foreign-investor participation in the local-currency DCMs,' it added. According to the global investment banking firm State Street Global Advisors, other regions saw divergent trends. Brazil led the emerging market in local bond returns with a 13.7 percent gain, driven by currency appreciation and rate hikes. In contrast, Turkiye posted an 8.7 percent decline, reflecting political instability and currency depreciation. These shifts underscore varying macroeconomic dynamics across emerging markets. In the Kingdom, foreign investors increased their participation in local government debt, accounting for 7.7 percent of the investor base at the end of the first quarter of the year, up from 4.5 percent in 2024. Fitch noted that pressure from declining oil prices — forecast at $65 per barrel for 2025 and 2026 due to OPEC+ cuts and trade-related volatility — could widen fiscal deficits and lead to increased borrowing. Among the most vulnerable are Bahrain and Saudi Arabia, while Qatar, Kuwait and Abu Dhabi benefit from substantial sovereign wealth assets. Oman is seen as relatively well-positioned fiscally. Interest rate expectations are also playing a role in shaping the DCM outlook. Fitch projects the US Federal Reserve to lower rates to 4.25 percent by end of 2025, with GCC central banks expected to follow suit. Lower rates could support further issuance, as banks and corporates across the region continue to diversify their funding strategies. Sukuk remains a cornerstone of the GCC's DCM, comprising around 40 percent of the total outstanding by the first quarter of the year. The region holds over 40 percent of the global sukuk market, though issuance fell 51 percent year on year in the first quarter to $18.2 billion. Conventional bonds rose 29 percent over the same period. Fitch reported that 83.5 percent of Fitch-rated GCC US dollar sukuk are investment-grade, with 57.8 percent in the 'A' category and the majority holding stable outlooks. Environmental, social and governance financing is also gaining traction in the region, with GCC countries' ESG DCM surpassing $50 billion in all currencies by the end of the quarter. National-level regulatory reforms are also reshaping local markets. In Kuwait, the cabinet's approval of a long-delayed financing and liquidity law is expected to unlock new borrowing capacity. In the UAE, the apex bank continues to advance the Dirham Monetary Framework, with the currency's share in the domestic DCM growing to 24.9 percent from just 0.5 percent in 2020. Sustainable finance is also gaining momentum, with the UAE developing a Sustainable Islamic M-Bills program and Qatar unveiling a sustainable finance framework. Despite global uncertainty, Fitch emphasized the resilience of the region's credit quality, noting that no Fitch-rated GCC sukuk or bonds defaulted in 2024 or the first quarter of 2025.
Zawya
06-02-2025
- Business
- Zawya
UAE DCM to thrive in 2025 on funding diversification; Major emerging markets issuer
Dubai / Jakarta / Toronto: Fitch Ratings anticipates a vibrant UAE debt capital market (DCM) in 2025, and for it to grow to USD400 billion over the next few years. This growth will be propelled by funding diversification, upcoming debt maturities, infrastructure financing, regulatory reforms, and the Dirham Monetary Framework (DMF) implantation. A favourable funding environment, with projected lower US Federal Reserve interest rates in 2025, and declining oil prices could further stimulate the diverse DCM. Nasdaq Dubai continues to be a key global listing venue for sukuk. "After surpassing USD300 billion and up just over 10% from last year, the UAE DCM is on track to reach USD400 billion, driven by strategic diversification and reforms," said Bashar Al Natoor, Global Head of Islamic Finance at Fitch Ratings. "The UAE continues to be a key part of the global sukuk landscape, with 92% of its sukuk being investment-grade, nearly all of its sukuk issuers on Stable Outlooks. No defaults in 2024 highlight the market stability, supported by the evolving Dirham Monetary Framework and favourable funding conditions." The UAE was the third-largest dollar debt issuer in emerging markets (excluding China) and second-largest DCM among GCC countries in 2024. It is among the most developed DCMs within the Organisation of Islamic Cooperation (OIC) countries, and is a significant global sukuk issuer and investor. Sukuk made up 20.8% of dollar issuances in 2024, followed by ESG issuance (17.2%). The dirham's share of the DCM rose to 23% by end-2024 (2020: 0.5%). The UAE's consolidated debt is stable. We expect UAE banks to continue being key debt issuers and investors. However, challenges persist. The DCM investor base is concentrated in banks. Dirham issuance by corporates and banks are rare. Many large corporates are starting to issue debt, but the funding culture remains bank-focused. Sharia complexities, including AAOIFI Standard 62, pose risks for sukuk. Matt Pearson Senior Associate, Corporate Communications Fitch Group, 30 North Colonnade, London, E14 5GN E:
