Banking behemoth Citigroup has reported a loss of $7.6 billion for the three months ended December 2009, mainly on account of expenses related to repayment of bailout funds.
China is reportedly buying the precious metal with its gold reserves now pegged at 1,054 tonnes from 454 tonnes in 2003, which is one of the reasons for the boost in the prices.
The Citi deal should help Wipro beef up its presence in the banking and financial services (BFSI) space. The target company does work in the technology infrastructure services space as also application development and maintenance and the Rs 19,957 crore (Rs 199.57 billion) Wipro should be able to leverage these services with other clients. The assured revenues of $500 million will come in handy at a difficult time.
Refusing to disclose details, Citi India Chief Executive Officer Sanjay Nayar told reporters that non-performing assets in the consumer finance segment were much larger than expected, but added that business remained 'satisfactory'. "It is classic over-indebtedness, consumers were over-leveraged, while the underlying capacity remained unchanged," he said on the sidelines of a press conference.
In view of high prices of apartments in cities, India Inc on Tuesday asked the RBI to raise the priority sector home loan limit from Rs 20 lakhs to Rs 40 lakh at least in metros- Delhi, Mumbai, Chennai and Kolkata.
FY17 GDP growth faces cash crunch heat
"We have a number of plans on partnerships..we are in discussions...to work with people having competency, to bring more services to customers...," Citi India's Country Business Manager (Global Consumer Group), P S Jayakumar, told reporters on the sidelines of a press conference in Mumbai on Thursday. Jayakumar said the bank is looking at tie-ups in the areas of product distribution and technology, without, however, divulging further details.
This is the most successful equity raising by the project's promoter Bahrain-based Gulf Finance House which is now looking at further investment opportunities in India. The project, with an estimated development value of $2 billion, will be built on 300 acres of land in Maharashtra.
These maps can facilitate development of smart cities in little ways that add up to huge economic benefits for citizens
"Children have enormous potential to know what they want for the future of their cities and government and civil societies should give them a chance to explore their creativity," Union Minister for Science and Technology Kapil Sibal said.
London Olympics bronze-medallist MC Mary Kom led the charge as six Indian boxers stormed into the final with comprehensive wins to remain in hunt for all the 10 medals on offer at the 12th South Asian Games, in Shillong, on Sunday.
Saina Nehwal and Sayali Gokhale gave India a rousing start at the Philippines Open badminton championship
We have to really focus on improving productivity: infy, COO
These smart cities should have the capacity to absorb, adapt and provide opportunities for both the poor rural migrants as well as the educated professionals, say Sujit K Pruseth & Sachi Satapathy.
There's surplus liquidity and RBI, with plentiful forex reserves, is ready to pump whatever extra is needed
The winners of the 60th annual World Press Photo Contest have been announced. The winning shot was taken by Turkish Associated Press photographer called Burhan Ozbilici, with an image he has simply titled An Assassination in Turkey. Showing Mevlut Mert Altintas shouting after shooting Andrei Karlov, the Russian ambassador to Turkey, at an art gallery in Ankara, Turkey, on December 19 2016.
Surinder Kaur scored a brace in an 8-0 victory in the opening match of the women's hockey tournament at the Afro Asian Games.
India has just had one of the worst quarters in export earnings.
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Some experts believe that building new cities may not be the answer to India's swelling urban population.
India should not miss the opportunity to develop high-speed railway.
Aseem Chhabra tell us how he watched 302 films in 365 days on airplanes, on Netflix, Amazon, iTunes, Google, Hulu, DVDs and even on YouTube.
It has been a difficult year for Singh, whose fate from the start has been closely tied to that of the Gandhi family.
Experts are upbeat about developing smart cities in India.
Other income stood at about a quarter of PBIDT in the first 9 months of 2013-14
Four major political takeaways from Narendra Modi's much-anticipated trip to China
CEOs of leading banks say third straight rate hike by RBI inevitable, though not desirable.
'If Indian armed forces entered Pakistan and succeeded in inflicting major damage on the Pakistani army and occupied territory in the Pakistani heartland, there is reason to think the Pakistani military would use some nuclear weapons against the incoming Indian forces to compel India to stop.'
Currently, foreign lenders are present in India only through branches or representative offices.
India Inc is encouraged by a determined Budget.
Since many of Modi's urban policies were initiated in Ahmedabad, the city may act as a template to examine what can be expected in a country that is witnessing the biggest migration from rural to urban areas in the world
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