Indian insurers asked their regulator to soften a proposal that requires them to set aside capital when they buy state bonds, warning it would make the debt less attractive to own, according to people familiar with the matter. In written feedback to the Insurance Regulatory and Development Authority of India through an industry body, companies asked to reduce or remove the planned capital requirem...
Indian insurers asked their regulator to soften a proposal that requires them to set aside capital when they buy state bonds, warning it would make the debt less attractive to own, according to people familiar with the matter. In written feedback to the Insurance Regulatory and Development Authority of India through an industry body, companies asked to reduce or remove the planned capital requirement tied to such bonds, said the people, who asked not to be identified as the information is private. The sticking point is the so-called risk factor, which determines how much money insurers must set aside as a safety cushion in case the value of the bonds declines. The higher the risk factor, the more capital gets locked up, effectively raising the cost of buying the securities. In the proposal it ranges from 1.1% to 1.3%, which is how much state bonds would be discounted over government bonds, according to a document seen by Bloomberg News. The pushback comes as Indian states ramp up borrowing, with insurers the largest buyers of their debt after banks. States are set to raise a record $138 billion in the year ending March, with insurers holding about a quarter of outstanding state bonds as of the end of December, central bank data show. Demand from insurers has been driven by the higher yields on state debt. Any slowdown in their purchases risks pushing up borrowing costs for states as well as the sovereign, at a time when yields are already climbing amid a surge in oil prices following the Iran war. Indian Insurers Boost State Bond Derivatives as Yields Climb Indian Lenders Ask RBI to Change Accounting Rule for State Bonds Bank of America Trader Says India State Debt Deluge Will Worsen The IRDAI proposal is part of its broader move to a risk-based capital framework to align with global peers. It said this month it plans to roll out a new accounting system from April 1 . An email sent to the regulator did not receive a response. Insurers argued that state bonds should ...
Global stock buy-backs rose to a record US$1.46 trillion yuan in 2025, as listed companies stepped up efforts to return cash to public shareholders amid a rally in equities, according to US asset-management firm Capital Group. Repurchases by the world’s largest publicly traded companies tracked by the money manager increased 8.4 per cent year on year, representing a net increase of US$113 billion,...
Global stock buy-backs rose to a record US$1.46 trillion yuan in 2025, as listed companies stepped up efforts to return cash to public shareholders amid a rally in equities, according to US asset-management firm Capital Group. Repurchases by the world’s largest publicly traded companies tracked by the money manager increased 8.4 per cent year on year, representing a net increase of US$113 billion, Capital Group said in a report released on Wednesday. The US led global buy-backs, accounting for...
Being A Pedophile Now Not Enough To Warrant Deportation Authored by Steve Watson via Modernity.news, A convicted paedophile migrant who failed to disclose his child sex offence when applying to stay in Britain has won an appeal against deportation – because a judge ruled the omission was simply an “honest mistake.” YES, REALLY. Edi Cardoso Ramos, who was convicted in Portugal of molesting a five-y...
Being A Pedophile Now Not Enough To Warrant Deportation Authored by Steve Watson via Modernity.news, A convicted paedophile migrant who failed to disclose his child sex offence when applying to stay in Britain has won an appeal against deportation – because a judge ruled the omission was simply an “honest mistake.” YES, REALLY. Edi Cardoso Ramos, who was convicted in Portugal of molesting a five-year-old child, can now fight to remain in the UK after the Upper Tribunal accepted his explanation that he thought the immigration form only asked about UK convictions. Paedophile migrant who failed to disclose child sex offence after coming to UK wins appeal against deportation as judge rules it was 'honest mistake' https://t.co/PQgn7qiayL — Daily Mail (@DailyMail) March 23, 2026 This decision leaves British families wondering why foreign sex offenders keep getting second chances while the system fails to protect the public. The Daily Mail reports that Ramos was convicted in 2014, when he was 19, of a serious sexual offence involving the molestation of a five-year-old child. He received a three-year suspended custodial sentence. He migrated to the UK in 2018. In 2020, when applying for leave to remain, he denied having any prior convictions on the form. He later claimed he misunderstood the question, thinking it asked only about convictions in the United Kingdom. In 2024, Ramos was caught with a prostitute in his car and accepted a police caution for outraging public decency. A background check then revealed his 2014 conviction in Portugal, prompting the Home Office to start deportation proceedings. He appealed the decision. Judge Paul Lodato of the Upper Tribunal of the Immigration and Asylum Chamber allowed the appeal. The judge stated: “Does (Ramos) represent a genuine, present and sufficiently serious threat to ‘a fundamental interest of society’? It was agreed that if I conclude that he does not, his appeal falls to be allowed.” Molesting toddlers doesn’t represent a ...
Baltimore has filed a lawsuit against Elon Musk's xAI ( X.AI ), marking it as the first major U.S. city to do so over Grok's image-generation capabilities. This follows a class-action suit by three Tennessee teens alleging Grok of generating child sexual abuse material. Baltimore City Mayor Brandon Scott described the issue as a threat to “privacy, dignity and public safety,” underscoring the broa...
Baltimore has filed a lawsuit against Elon Musk's xAI ( X.AI ), marking it as the first major U.S. city to do so over Grok's image-generation capabilities. This follows a class-action suit by three Tennessee teens alleging Grok of generating child sexual abuse material. Baltimore City Mayor Brandon Scott described the issue as a threat to “privacy, dignity and public safety,” underscoring the broader societal risks tied to unchecked generative AI tools. "We’re talking about tech companies enabling the sexual exploitation of children," Scott told CNBC . "Our city will not stand by and allow this to continue; it’s a threat to privacy, dignity, and public safety, and those responsible must be held accountable." The mayor and city council filed a lawsuit in a circuit court, accusing the company of violating consumer protection laws through deceptive practices. Baltimore wants the court to order X and xAI to "cease the targeting and exploitation of Baltimore’s residents, ... reform their exploitative platform design." The complaint centers around a “put her in a bikini” trend that encouraged Grok users to take photos of others and nudify images without consent. Elon Musk also took part in the trend, sharing a Grok-generated image portraying himself in a string bikini. "Coming from the owner and principal public face of both X.AI and X, Musk’s post operated as marketing and promotion for the very image-editing capability that was being used to generate non-consensual sexual imagery," the lawyers wrote . Such legal actions add to mounting pressure on Elon Musk ’s AI venture, which is already facing regulatory scrutiny across multiple jurisdictions and a growing number of lawsuits. More on xAI SpaceX-xAI Deal: Building America's New Icon SpaceX Buys xAI: Space-Based AI Dream Or Nightmare Masking Tesla Failure? Elon Musk misled Twitter investors ahead of $44B buyout, jury finds White House's AI blueprint contends federal laws should trump states' rights in AI legislation Fin...
Senegal raised debt last year using opaque derivative instruments in a process that the nation’s finance ministry defended as transparent. The seven so-called total return swap operations were carried out through domestic bond auctions between April and November 2025 as part of a broader strategy to lower funding costs and diversify the country’s investor base, the ministry said in a statement on ...
Senegal raised debt last year using opaque derivative instruments in a process that the nation’s finance ministry defended as transparent. The seven so-called total return swap operations were carried out through domestic bond auctions between April and November 2025 as part of a broader strategy to lower funding costs and diversify the country’s investor base, the ministry said in a statement on Tuesday. The proceeds were used to cover financing needs last year, and not for any 2026 obligations, it said. The Financial Times reported on March 23 that Senegal “covertly borrowed” €650 million ($754 million) from international institutions that it hadn’t publicly disclosed. Similar derivative instruments led to the collapse of Archegos Capital Management LP in 2021. “These financings took the form of public securities issued via auctions,” the ministry said. “The results of each operation are published in accordance with market transparency rules and are routinely covered by the local press.” Senegal’s public finances have faced heightened investor scrutiny since the government disclosed in September 2024 that it had uncovered at least $7 billion of previously hidden loans. The revelation led the International Monetary Fund to suspend a $1.8 billion funding package and resulted in a selloff of the West African nation’s bonds. Earlier this month, Senegal paid coupons and principal on its foreign bonds before a March 13 deadline, avoiding a potential default. Still, investor anxiety over its finances persists, with the sovereign risk premium over US Treasuries rising to 1,419 basis points from 1,236 basis points when the payment fell due, according to JPMorgan Chase & Co. data. Senegal’s Regional Borrowing Spree Buys Time to Fix Debt Crisis Senegal’s Widening Ruling Party Rift Risks Clouding Debt Outlook Senegal Makes $471 Million Payments to Service Foreign Bonds A finance ministry spokesperson didn’t respond to requests for comment on details on the total return swaps....
Photo: IC Photo China’s “fixed-income plus” mutual funds are facing mounting redemptions as geopolitical tensions and equity market volatility prompt investors to lock in gains. The strain is highlighting vulnerabilities in a multitrillion-yuan segment that grew quickly as investors sought higher yields amid falling deposit rates. Funds saw continuous net outflows in the week of March 16-20, with ...
Photo: IC Photo China’s “fixed-income plus” mutual funds are facing mounting redemptions as geopolitical tensions and equity market volatility prompt investors to lock in gains. The strain is highlighting vulnerabilities in a multitrillion-yuan segment that grew quickly as investors sought higher yields amid falling deposit rates. Funds saw continuous net outflows in the week of March 16-20, with March 20 marking the largest redemption since the second half of last year, according to Huachuang Securities. Most fixed-income plus funds posted losses that day as the benchmark Shanghai Composite Index fell below 4,000.
UK inflation stays at 3% in February, before Iran war drove up global energy costs Good morning, and welcome to our rolling coverage of business, the financial markets and the world economy. Inflation in the UK was unchanged last month, as expected – before the Iran war drove up global energy costs, threatening a renewed price jump. While we expected February’s inflation data to remain stable arou...
UK inflation stays at 3% in February, before Iran war drove up global energy costs Good morning, and welcome to our rolling coverage of business, the financial markets and the world economy. Inflation in the UK was unchanged last month, as expected – before the Iran war drove up global energy costs, threatening a renewed price jump. While we expected February’s inflation data to remain stable around 3%, increasing oil prices are widely expected to push up the headline rate of inflation to near double the 2% target later this year, threatening the Bank’s slow and steady rate cutting cycle and frustrating markets. Should this materialise, markets are unlikely to respond well. While the Bank of England has signalled a cautious and data dependent approach to monetary policy, resulting in a hold at 3.75% last week, financial markets have already reacted sharply to the changing global outlook. Investors are now pricing in the possibility of multiple interest rate increases this year, with some expectations pointing to as many as four rises before the end of 2026. The gap between market expectations and the Bank’s own guidance highlights just how uncertain the inflation outlook has become. Continue reading...