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November 9th - Trump: I am pleased to announce that the great attorney John Coale has been nominated as the U.S. Special Envoy to Belarus. He has successfully facilitated the release of 100 hostages and is working to secure the release of another 50. I would like to express my sincere gratitude in advance to the esteemed President Lukashenko of Belarus for considering the release of these additional hostages.U.S. Treasury Secretary Bessant: Substantial progress is being made on the inflation issue, and prices are expected to fall in the coming months.On November 9th, local time, Ukrainian President Volodymyr Zelensky signed a new sanctions decision, imposing sanctions on several Russian government officials and institutions. Ukraine called on the international community to increase pressure on Russia and sanction all individuals and organizations that fund war and spread disinformation. Ukraine stated that this round of sanctions includes "Russian government members involved in the plunder of occupied Ukrainian territories" and personnel from Russian military intelligence. Ukraine also plans to take further measures against publishing institutions within Russia engaged in war propaganda and defense of aggression. According to Ukrainian sources, the sanctions list includes individuals such as Russian Presidential Special Representative Kirill Dmitriev.Iraqs State Oil Marketing Organization (SOMO) announced that Iraq has set its official selling price for December Basra medium crude oil to Asia at a discount of $0.35 to the average price of Oman/Dubai crude oil.November 9th - According to Japans TBS News, a 5.6-magnitude earthquake struck off the eastern coast of Honshu, Japan, at 6:28 PM local time on the 9th, with a focal depth of 10 kilometers. The epicenter was located off the coast of Sanriku, and Morioka City in Iwate Prefecture experienced noticeable tremors with an intensity level of 3. A 6.7-magnitude earthquake had just struck the same area at approximately 5:03 PM local time on the 9th, triggering a tsunami. According to the latest observations, the tsunami has reached several locations in Iwate Prefecture, including Miyako, Kuji Port, and Ofunato. No casualties have been reported so far.

MSCI Delays Weighting Adjustments For Two Adani Companies

Skylar Williams

Feb 16, 2023 10:50

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Index provider MSCI announced on Wednesday that it will delay the introduction of updated weightings for Adani Total Gas and Adani Transmission until the May benchmark review.


MSCI stated that the reversal of the modifications to Adani Total Gas and Adani Transmission in the February index review would be reflected in the MSCI Index Product files beginning on February 16.


Starting in February, MSCI will also apply a special treatment to all Adani Group-affiliated equities included in its Equity Indexes.


Adani did not react promptly to a comment request given outside of usual Indian business hours.


MSCI announced last week that it would reduce the weightings of four Adani Group firms, including Adani Enterprises, in its indexes after reevaluating the amount of freely traded shares.


The new index weightings were scheduled to take effect on March 1, however, the proposed modifications to Adani Total Gas and Adani Transmission have been deferred until May.


MSCI stated that "possible replicability concerns" motivated the decision. Its methodology requires indexes to be replicated "in a cost-effective manner in a real portfolio."


MSCI did not immediately respond to a request for comment from Reuters regarding why the changes were reversed quickly after their announcement last week.


Changes to the weightings of Adani Enterprises and ACC, a large Indian cement firm that the Adani Group purchased from Holcim (SIX:HOLN) last year, are still scheduled to occur.


MSCI investigated the level of free floats after concluding that there was "sufficient uncertainty" regarding certain Adani investors.


MSCI's decision followed a report published on January 24 by U.S. short seller Hindenburg Research, which accused the Indian giant of inappropriate use of offshore tax havens and stock manipulation. The organization has denied all wrongdoing.


The Hindenburg report has put Adani, led by billionaire Gautam Adani, into trouble, reducing the value of the group's companies by almost $120 billion.


According to a document seen by Reuters, Adani and two of its principal subsidiaries involved in a short-selling tempest in recent weeks will arrange calls with bond investors on February 16 and February 21.

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