- The Indian government wants to plant climate-resistant cultivars on 60% of its 30 million hectares of wheat.
- The German government will borrow less money in the final three months of the year than originally anticipated.
- Higher interest rates in Europe will put pressure on the banks and firms in the region’s credit ratings.
Amid a powerful El Nino, the Indian government wants to plant climate-resistant cultivars on 60% of its 30 million hectares of wheat before the rabi planting season begins next month. Since July 20, India has barred the export of non-basmati white rice to the UAE to control domestic prices and guarantee food security.
Due to fewer funding requirements to address the energy crisis, the German government will borrow less money in the final three months of the year than originally anticipated.
Sensex and Nifty
According to S&P Global, higher interest rates in Europe will put pressure on the banks and firms in the region’s credit ratings. As financing constraints become more restrictive, the trend in credit quality is shifting negatively for corporates, particularly for issuers of speculative-grade debt.
Real estate continues to be one of the most exposed sectors, and while asset quality will begin to deteriorate, credit losses are only likely to return to normal for European banks.
As it ramps up jet production, Airbus announced the appointment of sales head Christian Scherer as CEO of its primary planemaking division. This marks the first time in four years that the main business has had dedicated leadership.
The largest airplane manufacturer in the world claimed that group CEO Guillaume Faury would give him more time to lead the business in a “fast-evolving global environment.”
The 10.40 billion rupees ($125 million) bids for social impact bonds have been accepted by India’s National Bank for Agriculture and Rural Development (NABARD). Due to impending tax obligations and high oil costs, the rouble maintained its Tuesday trading range near 96 to the dollar.
Heavyweight chip-related company drops contributed to a more than 1% decline in the Nikkei 225 on Tuesday, but losses were contained as investors bought value stocks for their dividend payout rights, limiting their losses.
Due to growing yield differences between the two largest economies in the world, China’s one-year dollar/yuan swap dropped to -2,720 points on Tuesday, the lowest level since June 2008.
Tuesday saw a decline in the Indian rupee, which followed the trend of its Asian counterparts, as well as a negative impact from higher US Treasury yields.
