BlackRock Inc has executed a purchase agreement to acquire Barclays Global Investors, including its market leading ETF platform, iShares, from Barclays Plc, the company said. The transaction would create an independent and fully integrated asset management firm named 'BlackRock Global Investors' with combined assets under management of over $2.7 trillion, bringing together market leaders in active and index strategies.
The rupee plunged to a fresh low of 93.72 against the dollar on Friday, falling 1.15 per cent in a single session - its sharpest one-day decline since February 24, 2022 - as elevated crude oil prices and strong dollar demand from oil-marketing companies and foreign portfolio investors (FPIs) weighed on the currency.
Sanjay Malhotra has made structural changes to banking regulation to bring down costs and increase efficiency. Plus, he kicked off a benign interest regime. But there are challenges ahead.
Financial services major Barclays Plc on Tuesday posted a robust profit of 6.87 billion pounds ($10.77 billion) for the three months ended December 31, 2009, driven by the sale of its Global Investors unit.
Standard Chartered, Barclays, Citibank, Deutsche Bank are among investment banks that are involved in the process of facilitating investor meets in Asia, Europe and the United States.
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According to the research note, the jump in volatility following the tightening of liquidity by the RBI on July 15 is likely to move lower and current levels could prove an attractive entry point into the market.
Investment bankers handling the IPO had said marquee global investors made big-ticket applications.
Any investment proposal in India has to be cleared by the Cabinet which leads to a vicious cycle of approvals and rejections, says
'We operate in 16 countries already, and therefore adding the UK to it, and beginning a chapter in the European continent is the next step.'
India's is the only stock market to out-perform the other global indices in three out of the last ten years.
While the FPI limit on most bond issues would not be raised above 6 per cent, there would be some in which there would be no limits, reports Arup Roychoudhury.
The general elections in April/May 2024 are expected to add volatility to the Indian markets, keeping investors on their toes.
Foreign portfolio investors' (FPIs') net investment in the domestic debt market in October was the third highest during the current calendar year as foreign investors rushed to lock in higher returns amid global uncertainty and geo-political tensions, market participants said. FPI inflows in debt stood at Rs 6, 322 crore in October against Rs 768 crore in September, according to data on the National Securities Depository Limited (NSDL). Market participants said that the majority of the inflows were channelled through corporate bonds.
Delay in the recovery in earnings has led Macquarie, Barclays and Ambit to downgrade Indian shares over the last few days.
India's inclusion in JP Morgan's bond index can channel billions of dollars into India. How will the government securities market handle it?
The National Stock Exchange benchmark index Nifty is likely to remain between 5,050 and 6,100 in the next 12 months, because of lack of triggers in the domestic macro-economic environment and uncertainty in the global markets, a report says.
Fed seen holding rates steady as investor confidence shakes
However, it still lags far behind the US, which leads with a market-capitalisation of $23.9 trillion through August 2014.
As many as 40 staffers, in the key equities and investment banking division in India, could be asked to go as part of the London-headquartered lender's global layoffs, said people aware of the development. HSBC India declined to comment.
2nd time within a few days RIL has hit the forex debt market.
64% of 800 investors polled think it will start this week but weak US data suggest it might not be aggressive.
The government on Wednesday asked the Reserve Bank to maintain retail inflation at 4 per cent with a margin of 2 per cent on either side for another five-year period ending March 2026. To control the price rise, the government in 2016 gave a mandate to the RBI to keep the retail inflation at 4 per cent with a margin of 2 per cent on either side for a five-year period ending March 31, 2021.
The Indian rupee is expected to trade between 80 and 84 against dollar in the first three months of 2023 with support from overseas inflows though worsening current account deficit (CAD) and reduced interest rate differential between the US and India pose challenges. According to a Business Standard Poll of 10 participants, most said the rupee could gain strength in January due to foreign inflows, and the Reserve Bank of India (RBI) is not expected to allow the currency to depreciate ahead of the Union Budget scheduled on February 1. The rupee depreciated 10.15 per cent in 2022, its worst performance since 2013 as the war in Europe and the interest rate increase by the US Federal Reserve prompted investors to flee emerging markets.
Royal Bank of Scotland and JP Morgan were also fined over attempts to rig currency benchmarks in a year-long probe that has put the largely unregulated $5 trillion-a-day market on a tighter leash, with dozens of dealers suspended or fired.
Does away with much of auction process in this market and reinvestment checks
The beleaguered Deutsche Bank announced major overhaul of its business, which included discontinuing loss-making equities trading business, creating a new 'bad bank', and cutting 18,000 jobs. Deutsche Equities India employs 35 people, all of whom could face the job axe.
The domestic mutual funds such as Reliance Mutual Fund and Tata Asset Management Company are in advanced talks with global fund houses and investment advisors, in an attempt to offer global investment products to their Indian investors.
Valued at $71.2 billion, the bank's market capitalisation is more than that of global banks like Barclays, JP Morgan Chase and Credit Suisse.
Reliance Industries Ltd, the nation's most valuable company, on Thursday said it has raised $4 billion (around Rs 30,000 crore) in debt through the largest ever foreign currency bond issuance by an Indian entity. The oil-to-telecom conglomerate plans to use the proceeds of the three tranche issues to retire existing borrowings. The issue was "nearly 3 times oversubscribed with a peak order book aggregating around $11.5 billion," the company said in a statement. This is the largest ever foreign currency bond transaction in India, eclipsing ONGC Videsh Ltd's $2.2 billion US dollar bonds issue of 2014.
India builds up record FX after Fed hints rate hike in future.
During the meeting with Finance Minister Nirmala Sitharaman, it was also suggested that employees' provident fund should increase its exposure in the stock market, which in turn would improve liquidity.
Flipkart has not been able to process with its plans of getting into the grocery vertical and is stuck on running pilots in select cities.
InterGlobe Aviation has already raised Rs 832 crore from anchor investors.
It hopes to attract billions of dollars in investment by this move, and may ease some restrictions on foreign inflows.
The most preferred CoCo bonds are those through which banks raise their additional Tier-I capital.
Bank of America (BofA) Securities expects India to be the third-largest economy in the world by 2031. The economic rise could become a reality by 2028, but the Covid pandemic delayed the pace, BofA Securities economists Indranil Sen Gupta and Aastha Gudwani wrote in a report.
Reliance is in the market with a benchmark issue to sell 30-year US dollar-denominated Reg S fixed rate senior unsecured notes.
Many analysts over the past week have said the RBI has legroom to cut rates to the tune of 65 bps by June and some like Barclays and BofA have also spoken about the likelihood of an inter-meeting cut.
The rupee is likely to strengthen to 60-61 level by this fiscal-end on expectations of improvement in current account deficit (CAD) and higher inflows from overseas investors.
