Halister News

(Bloomberg) -- Romania Digi Communications CEO Serghei Bulgac is suspect in probe by anti-corruption prosecutors for money laundering as part of larger investigation regarding RCS & RDS contract with Romanian soccer federation for rights to televise soccer games, company says in statement to Bucharest Stock Exchange.

• Bulgac denies wrongdoing, says RCS will fully cooperate with Romanian authorities
• NOTE: Digi shares started trading on Bucharest bourse on May 16, after IPO

To contact the reporter on this story: Andra Timu in Bucharest at atimu@bloomberg.net To contact the editors responsible for this story: Andrea Dudik at adudik@bloomberg.net Andras Gergely

(Bloomberg) -- “I am for the first time in a long time heavier weighed in Europe rather than U.S.,” author and investor Marc Faber, publisher of the Gloom, Boom and Doom Report, says in a Bloomberg telephone interview.

• “I find at the present time that there are good opportunities in European stocks" and euro will continue to strengthen against the dollar, Faber says
• “In general I’m dismayed by the central banks monetary policies in the US, in Europe, in Japan, in Finland... The money printing exercise has been a failure in terms of lifting sustainable economic growth"
• “In my opinion in the U.S. they will launch QE4 at the end of the year. The economy in the U.S. is weakening”
• “If I look at the fundamentals of the European, American and Japanese countries, in my view there is no other option for central banks but to continue printing money”; pension funds in those countries are grossly underfunded and “they will need some kind of a bailout”
• The political situation in Western democracies is “a disaster"
• “I would argue that gold mining shares are inexpensive and Amazon is expensive”
• “Money printing” by central banks “so far has gone mainly into Apple, Amazon, Google, Tesla and these kinds of stocks and it has gone into crypto currencies like Bitcoin. But not so much into precious metals”
• “Once these precious metals move they can move very sharply and far higher. When the high priced American shares like Apple, Amazon, Tesla and crypo currencies break down then gold and other precious metals will shine”

To contact the reporter on this story: Inci Ozbek in Istanbul at iozbek2@bloomberg.net

(Bloomberg) -- (Corrects spelling of director’s name in first paragraph.) Gaming recovery still faces uncertainties, Macau’s Gaming Inspection and Coordination Bureau director Paulo Chan says.

• Macau is showing a good balance in its VIP and consumer segments: Chan
• Macau gaming regulator won’t enact any new anti money- laundering rules in short-term: Chan
• Macau has no plans to adjust gaming tax or develop online gaming: Chan
• NOTE: Macau Casino Operators Decline Amid Gaming Revenue Concerns Link

Story Link:NSN OQ353A6TTDS1

(Bloomberg) -- Gaming recovery still faces uncertainties, Macau’s Gaming Inspection and Coordination Bureau director Paolo Chan says.

• Macau is showing a good balance in its VIP and consumer segments, gaming regulator Paolo Chan says
• Macau gaming regulator won’t enact any new anti money- laundering rules in short-term
• Macau has no plans to adjust gaming tax or develop online gaming: Chan
• NOTE: Macau Casino Operators Decline Amid Gaming Revenue Concerns Link

(Bloomberg) -- Traffic, capacity, yield and cost trends favor Turkish and Russian aviation markets over UAE as the industry recovery becomes more visible in the course of 2017, HSBC analyst Cenk Orcan writes in research report.

• Russia saw strong passenger volumes in 1Q and Turkey bottomed out Y/y, started growing in April w/ strong bookings reported for summer
• UAE seen facing challenges still, with visibility for recovery remaining poorer compared with Turkey and Russia
• Says Turkey is a better “recovery” play given demand/oil price dynamics and valuation scope for stocks
• Upgrades Pegasus Hava and TAV Havalimanlari Holding to Buy from Hold
  • Pegasus PT raised to 19.50 liras vs 15.50 liras, TAV’s PT raised to 19.30 liras vs 16.30 liras
  • Sees improved traffic mix for TAV, revised assumption that operations at Ataturk Airport will cease one year later than initially forecast (2020 vs 2019), which is expected to unlock additional value
• Raises Aeroflot PT to 200 ruble vs 180, Turkish Airlines PT to 7.60 liras vs 6.50
• Cuts Air Arabia PT to 1.12 dirhams vs 1.20

To contact the reporter on this story: Tugce Ozsoy in Istanbul at tozsoy1@bloomberg.net To contact the editors responsible for this story: Celeste Perri at cperri@bloomberg.net Angela Cullen

(Bloomberg) -- Here’s a roundup of Indian co. debt-rating changes.

• To get this story sent to your inbox real-time, run NI INRATINGS , click on Display & Edit, then Set Alert Delivery

DOWNGRADES

• Bygging India
  • Fund-based limits rating cut to BB+ from BBB- at ICRA
  • Cites stretched liquidity profile

• J.P. Engineers
  • Fund-based limits rating cut to BB+ from BBB- at ICRA
  • Cites increase in working capital intensity of the business

• Welcome Distilleries
  • Fund-based limits cut to BB+ from BBB- at ICRA
  • Expects ban on production, sale and consumption of alcohol in Bihar state impacting revenues

UPGRADES

• HDFC Credila Financial
  • NCDs raised to AAA from AA+ at Crisil
  • Cites change in HDFC Credila’s name to incorporate the HDFC brand. The shared name enhances the moral obligation of HDFC to support HDFC Credila

• Jewel Star
  • Long-term bank facilities raised to BB+ from BB at Crisil
  • Cites significant improvement in operating performance

• Murudeshwar Ceramics
  • LT bank facilities raised to BB- from B+ at Crisil
  • Cites increasing cash accrual

• Rajdeep Buildcon
  • LT bank facilities raised to BBB+ from BBB at Crisil
  • Cites improvement in financial risk profile due to better working capital management