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The UAE Ministry of Defense stated that the UAEs air defense system successfully intercepted Iranian ballistic missiles, cruise missiles, and drone attacks.March 7th - At a press briefing held by the State Council Information Office, it was learned that the National Peoples Congress (NPC) is currently reviewing the draft National Development Planning Law, further ensuring the smooth progress of national development planning within the framework of the rule of law. Zheng Bei, Vice Chairman of the National Development and Reform Commission, stated that the simultaneous review of the draft National Development Planning Law by the NPC this year is a landmark event. This law encapsulates the effective practices of our Party in guiding economic and social development with medium- and long-term planning under the conditions of a socialist market economy. The promulgation and implementation of the National Development Planning Law will clarify the responsibilities and specific arrangements for planning implementation through legal means, ensuring the smooth progress of national development planning work within the framework of the rule of law.Indian government sources say there are currently no plans to raise retail prices for gasoline and diesel in India.Indian government sources say Indian Oil Corporation has booked some tanker cargoes for pickup at Yanbu port.Indian government sources say Indias fuel reserves are increasing daily. If supplies are secured, India will consider purchasing Russian liquefied natural gas.

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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