A sharp erosion in his wealth and a long-running sibling rivalry notwithstanding, Indian billionaire Anil Ambani has retained his position in the list of the world's 100 most powerful people, but is down 30 places since last year, while his brother Mukesh has made a total exit.
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The ruling by the Supreme Court was made in a parallel civil insider trading case brought against Gupta by federal regulator Securities and Exchange Commission.
In its Global Economics Paper, Goldman Sachs Economic Research has outlined ten crucial steps that India must take to achieve its full potential.
After one of the most disastrous weeks in the history of Wall Street, Warren Buffett decided to invest $5 billion there.
With tightening in liquidity condition and expected decline in the inflation by early 2009, there is only a remote possibility of further hike in interest rate by the Reserve Bank, the US-based investment banker Goldman Sachs said in a report. Further, given the current global environment of tight liquidity and the central banks move last week to ease liquidity conditions, any further cash reserve ratio hike is firmly ruled out, it said.
Hyderabad-based ICSA (India) is divesting 14 per cent of its stake to Citigroup Venture Capital International Growth Partnership Mauritius for $30 million
The Securities and Exchange Board of India has approved The Walt Disney Company's deal to increase stake in Ronnie Screwvala-promoted UTV Software Communications beyond 15 per cent, six months after the deal was initially signed. Sebi, the market regulator, has also okayed the US-based company to launch an open offer.
Foreign institutional investors are expecting the Third Front (read the Left) to play a crucial role in the formation of the new government and are worried about the fallout.
The satisfaction of serving the masses is proving to be a bigger lure for some management graduates.
Foreign institutional investors were the major sellers on the Indian bourses in the last six months, accounting for total outflows of Rs 62,000 crore (Rs 620 billion).
The Centre on Thursday cleared 14 Foreign Direct Investment proposals worth Rs 1,257 crore, including those of Mauritius-based Essar Telecom Holdings Ltd and US-based Goldman Sachs Asset Management. The proposals include induction of foreign equity worth Rs 500 crore by Essar Telecom Holdings and Rs 200 crore from GSAM. The investment proposals were cleared by Finance Minister P Chidambaram on the recommendations of the Foreign Investment Promotion Board.
The time may have come for India to stop thinking of five-year plans, and to focus instead on 10-and 20-year scenarios.
A clutch of foreign and domestic institutions has submitted expressions of interest to acquire at least 26 per cent in the Delhi-based Industrial Finance Corporation of India (IFCI).
Gupta's two-year prison term is set to end in March 2016.
The Wall Street Journal said the move, which is being closely watched, may be followed by other players at Wall Street. After months of internal debate at Goldman, the paper said the seven top executives at the firm, including chief executive officer Lloyd Blankfein, asked the board's compensation committee to grant them no bonuses.
Growing business opportunities fuelled by a robust economy and an increasing number of private equity investors are prompting investment bankers to quit their jobs and turn entrepreneurs.
Goldman Sachs has amassed $2bn to use for property investments in Asia, a move likely to intensify competition for assets in fast-growing markets such as China and India.
After the National Stock Exchange, the focus has now shifted to stake sale soon in two depositories, the National Securities Depository and the Central Depository Services.
The challenging task for the non-expert then is to pick up the right experts to follow, and these are not necessarily the ones who make the most noise!
Spicejet will raise Rs 530.76 crore or Rs 5.3 billion ($118.5 million) through issue of equity shares on preferential basis to various foreign and domestic investors.
Here's how you can get placed at an investment bank for your summer training.
The growth of the agriculture, forestry and fishing sectors fell to minus 2.2 per cent in the third quarter of this fiscal compared with 6.9 per cent in the year-ago period. Goldman's projection about the farm sector's growth in 2008-09 coincides with the estimate of a 2.6 per cent expansion rate by the Central Statistical Organisation.
India's fiscal deficit, including the Centre and states, would be among the highest in the world and likely to be 10.3 per cent of GDP in the current fiscal and 10 per cent in the next fiscal, financial services firm Goldman Sachs said on Friday.
That interest rates at the long end could rise in the second half of the year is disconcerting.
Reliance Industries is in talks with global energy majors, like British Gas of the UK, Chevron Corp of the US, Exxon and Shell for a possible stake sale in its Krishna-Godavari basin gas fields. RIL is looking for a strategic partner for its KG-D6 gas block to get deep sea exploration technology. The percentage of stake to be divested has not been firmed up & may depend on the value that the partner was bringing in. The block contains over 50trillion cubic feet of gas reserve
Who knows when the top chief executives will once again get the fat bonuses they were used to? The last recession provides a hint.
The brokerage lowered its GDP growth numbers for FY09 to 6.7 per cent from 7.5 per cent and for FY10 to 5.8 per cent from 7 per cent, Goldman said in a research note on Monday. Goldman Sachs said the gathering financial crisis over the past several weeks has affected India's financial sector significantly, with both domestic and external liquidity drying up. This has impacted the financing for corporates, loans for households, and trade credit for exporters.
Now, economists are famous for having a wide array of views, with most of them being wrong, but it is difficult not to notice that economists working for companies that will benefit the most from -- and, in some cases, desperately need -- lower interest rates are the ones that are screaming most loudly about how terrible things are and how the US Fed needs to cut, cut, cut rates.
India's biggest drug maker Ranbaxy Laboratories Ltd has put in its bid to acquire generic business of German pharmaceutical firm Merck.
"The enterprise valuation has been agreed to be in the range of $10-12.5 billion and the final valuation will be determined on the basis of Bharti Infratel's actual operating performance in 2008-09," a Bharti statement said.
The companies will pick up 20 per cent each in PTC Financial Services, a non-banking finance company (NBFC). The total investments could be Rs 50-60 crore (Rs 500-600 million), including a premium of Rs 3-5 on a face value of Rs 10 a share, according to company executives.
Billionaire investor's Berkshire Hathaway to pay $2.1 bn for Texas utility's junk bonds.
If there is indeed a slowdown, it is unlikely to be confined to the export sectors.
London's AIM, Chinese and Korean exchanges interested.
The Indian corporate bond market with gradual pace of reforms may see roughly a four-fold rise in size to reach $1.5 trillion by 2016, according to a Goldman Sachs report on the debt market. Within this market, which is crucial for raising long term resources for infrastructure projects, the private bonds segment could grow nearly six fold from $100 billion to $575 billion.
If the government is to be the lender of last resort for financial companies, it has to demand more control over their daily business
Spiralling oil prices will exert huge pressure on India's balance sheet of inflows and outflows of resources resulting in a three-fold increase in the current account deficit to 4.7 per cent of the country's GDP in fiscal ending 2009, a Goldman Sachs report said on Wednesday.
Prime Minister Narendra Modi on Monday gifted famous Indian tea to the captains of 11 large American corporations.
