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Una Galani
@ugalani
Asia Editor for Reuters Breakingviews. Views, not news.
reuters.com/breakingviews
Joined March 2011
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  • user avatar
    Una Galani
    @ugalani
    Aug 23, 2022
    "Adani Group: Deeply Overleveraged... Strong competition between the Adani Group and Reliance Industries to achieve market dominance could lead to imprudent financial decisions being made", warns Fitch in a credit note with an unusual amount of caveats and contradictions..
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    Una Galani
    @ugalani
    May 1, 2021
    Extraordinary interview by @adarpoonawalla , owner of the world’s largest vaccine maker, The Serum Institute in India.
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    The Times and Sunday Times
    @thetimes
    May 1, 2021
    India’s vaccines supremo hints that he may start producing in Britain and tells Martin Fletcher about threatening calls from the rich and powerful thetimes.co.uk/article/adar-p…
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    Una Galani
    @ugalani
    May 1, 2021
    Replying to @ugalani
    They are partly why Poonawalla flew to London to join his wife and two children hours before Britain banned travellers from India eight days ago. “I’m staying here an extended time because I don’t want to go back to that situation,” he says.
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    Una Galani
    @ugalani
    May 1, 2021
    Replying to @ugalani
    The calls come from some of the most powerful men. They come from the chief ministers of Indian states, heads of business conglomerates and others demanding instant supplies of Covishield, as the AstraZeneca vaccine is known in India. “ ‘Threats’ is an understatement,” he says.
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    Una Galani
    @ugalani
    Aug 23, 2022
    Replying to @ugalani
    Strongly worded note and headline but Fitch isn't changing its "market perform" recommendations on the two Adani credits (Adani Green Energy and Adani Ports) under its coverage.
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    Una Galani
    @ugalani
    May 1, 2021
    Replying to @ugalani
    He is also there on business. He says he is planning to start vaccine production in countries outside India. Would that include Britain? “There’s going to be an announcement in the next few days,” he replies coyly.
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    Una Galani
    @ugalani
    May 1, 2021
    Replying to @ugalani
    Declines invitation to apportion blame. “If I give you the right answer, or any answer, my head would be chopped off ... I can’t comment on the elections or Kumbh Mela. It’s too sensitive,” he says adding: “I don’t think even God could have forecast it was going to get this bad”
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    Una Galani
    @ugalani
    Aug 23, 2022
    Replying to @ugalani
    We feel many group companies require equity capital injections to reduce their high leverage levels...Despite the promoter’s large net worth, it is difficult to predict the extent of the promoter’s capacity to continually provide liquidity support, says Fitch
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    Una Galani
    @ugalani
    May 1, 2021
    Replying to @ugalani
    The calls, and throngs of desperate people who gather outside the Serum Institute’s 100-acre, state-of-the-art campus in Pune, 90miles east of Mumbai, explain why Poonawalla has been offered a government security detail, and why the campus now has 24/7 police protection.
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    Una Galani
    @ugalani
    Dec 27, 2020
    I love Bandra, Mumbai: Fell over while running, thought I broke my ankle. A sea of strangers rushed to assist, gave me water & lime juice, fed me oranges, helped me lie down, found a dr, drove me home. I had the good fortune of tripping near the #Ottersclub @bandrainfo #kindness
  • user avatar
    Una Galani
    @ugalani
    Aug 23, 2022
    Replying to @ugalani
    Fitch warns, in the worst case, Adani's debt-funded growth plans could eventually spiral into a massive debt trap but then retains their "market perform" ratings on the two Adani credit they cover and simply concludes they "remain cautiously watchful"
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    Una Galani
    @ugalani
    Aug 23, 2022
    Replying to @ugalani
    "Owing to its reputation both with bank lenders and in the domestic market, and diverse asset base in stable infrastructure industries, we see a few mitigating factors to the credit concerns highlighted above" says Fitch noting strong relationships with banks and bond holders
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    Una Galani
    @ugalani
    May 12, 2021
    Two extremes of expat life. Australia to its citizens in India: Don't come home or we might throw you in jail. France to its citizens in India: Please let us vaccinate with you with our supply of Moderna jabs. #COVID19India
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    Una Galani
    @ugalani
    Jun 15, 2020
    India Insight: Mumbai's rich are used to buying their way out of a public infrastructure problem. But money is now no guarantee of a hospital bed. The financial capital is living the emerging world healthcare infrastructure nightmare, my latest #Covid_19 #COVID19India 1/11
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    Reuters Breakingviews
    @Breakingviews
    Jun 15, 2020
    Mumbai's wealthy are struggling to buy their way out of an emerging market healthcare nightmare, writes @ugalani: bit.ly/2zv6B18.