Major global banks such as Standard Chartered, Barclays and HSBC have paid lesser amounts in advance tax in the third quarter of this fiscal compared to the year-ago period, while the domestic banks have paid higher amounts during the same period.
The churn in investment banks, though less muted than in the heydays of 2007, is gathering speed. "The pent-up desire to move is very high at the moment," says R Suresh, managing director at head hunting firm Stanton Chase.
Jyoti Randhawa shunned aggression for caution and carded a second successive two-under 70 for a share of the sixth spot after the penultimate round of the WGC-HSBC Champions golf tournament in Shanghai on Saturday.
Finance -- the most battered sector by the global meltdown -- is making a strong comeback.
Just another golfer in his rookie season till some time ago, caddie-turned-pro C Muniyappa is finding it hard to believe that he will rub shoulders with greats like Tiger Woods and Phil Mickelson in the WGC-HSBC Champions starting in Shanghai on Thursday.
Shree Rama Multi Tech Ltd said Company Law Board dismissed a petition filed against the company by HSBC Private Equity India Ltd, a foreign equity investor.
Customers will be offered five free third-party withdrawals per month.
Deutsche Bank could be the next to trim its retail operations.
Having cleaned up their credit card portfolios and sensing a change in the economic environment, issuers such as SBI Cards, Standard Chartered and HSBC are seeing an increase in their credit card base at a marginal pace.
Advocate Prashant Bhushan, who is one of the petitioners in the black money case, makes a case for the revelation of all the names of account holders that the government has submitted to the Supreme Court.
A top five finish that seemed so imminent slipped through the fingers of a nervy Jyoti Randhawa, who signed off tied 19th with an even-par final round in the prestigious WGC-HSBC Champions golf tournament in Shanghai on Sunday.
Back in form, Jyoti Randhawa remained in hunt for a top five finish, carding a sedate two-under 70 to lie tied eighth after the midway stage of the $7,000,000 WGC-HSBC Champions golf tournament in Shanghai.
The current global downturn has made India even more desirable to Non-Resident Indians who are bullish about the country's growth and continue to invest heavily in the country of their origin, a report said.
Asian countries are home to some of the wealthiest expatriates in the world and about 25 per cent of the highest paid foreign assignees' prefer to live in India, a report has said.
The Supreme Court stayed the National Consumer Commission's order, which had capped the interest rate chargeable on credit card holders at 30 per cent. The verdict will allow banks to levy any interest rate they consider applicable to card holders. In their appeal, the banks said they were following the guidelines of the RBI, which was the only authority to regulate the fixing of the interest. The commission had no jurisdiction to pass an order directly to the banks.
ED team managed to get several bank statements from Barbados, Dubai, Hong Kong etc. which prove vital overseas link and money trail relating to Nirav Modi and his aides.
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.
Finance minister Arun Jaitley had recently sent a delegation to Switzerland and the members had returned with some positive movement.
Shares of most European banks are down significantly.
Investors can sell their entire equity and move to debt when stocks get expensive
At least 14 mutual fund schemes have closed down, according to announcements made by fund houses. The reason: they had less than 20 investors in the scheme or a single investor was accounting for more than 25 per cent of the corpus. According to Sebi's guidelines, any scheme should have at least 20 investors. Also, no investor can account for over 25 per cent of the corpus.
Raman's hacking expertise is much in demand -- and not from criminal elements. Indian firms and multinationals like ABN Amro Bank, Aditya Birla Group, Bank of Maharashtra, Bombay Dyeing, HSBC, ICICI Bank, Indiabulls, Centurion BOP, Citibank, India Infoline, Ispat Industries and Kotak Group proactively seek his services. Raman's hacking expertise is much in demand -- and not from criminal elements.
For investment bankers, a Brexit vote is more than just about volatile prices on a screen but also about where they may end up working and living.
India is among the top 10 countries in the world in terms of expat quality of life.
Last week, the government had introduced the black money Bill.
The booming stock broking industry is being hit by rising attrition as the entry of big Indian business houses and expansion of existing players spawns opportunities for senior and middle-level executives. Surprisingly, multi-national players are at the receiving end as their executives are being lured by leading Indian corporate houses, which are entering into this space.
Squeezing growth prospects in IT services firms and higher compensation in technology centres run by global companies are the two factors driving this trend.
The Supreme Court on Monday admitted the appeals of Standard Chartered Bank, HSBC and Citibank challenging the order of the National Consumer Commission imposing restriction on charging credit card holders an interest rate in excess of 30 per cent.
Making cash payments at bank counters to settle your credit card dues is getting expensive. Credit card issuers led by ICICI Bank and HDFC Bank have started levying a fee on such payments.
A summary of sports events and persons who made news on Friday
According to a survey of expatriates across four continents, conducted by global banking major HSBC, Singapore, the United States and the United Arab Emirates have emerged as the top three most popular destinations among expats.
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).
Police are yet to contact banks whose credit cards are said to have been found from terrorists who carried out brazen attacks on Mumbai.
Indian equities have had a rocky start to 2008, after years of double digit growth, but that has not stopped providers coming to the market with fund launches
'When the rupee was at 65 a dollar, we wanted to go to Thailand for a holiday.' 'Now at 72, we may find Goa much more attractive.' 'That's how correction happens.' 'If you don't let that correction happen, then it's a pressure cooker that bursts one day.'
Nirma Ltd informed the Bombay Stock Exchange that it would purchase Searles Valley Minerals Operations and Searles Valley Minerals Inc (collectively known as SVM) from US-based private investment firm Sun Capital Partners Inc and other minority shareholders. HSBC Securities and Capital Markets (India) Pvt Ltd advised Nirma on the acquisition of the natural soda ash manufacturer, while J P Morgan Securities Inc was advisor to SVM.
Under the resolution plan, the lenders would end up having a sizable portion of shares in the airline, if their boards of directors agree to convert part of their debt into equity.
'The real estate sector has been badly bruised because it has become too reliant on funding from NBFCs, including housing finance companies. 'When the NBFC industry was rocked late last year by a large default, the real estate sector was hit hard. 'An intricate web of links between rural incomes, construction activity and shadow banks are fuelling the economic slowdown', says Pranjul Bhandari.
Before taking a job abroad, make sure it's in a place where you can earn more, save more and spend less.
Under the Goods and Services Tax, effective midnight of June 30, most of the financial services would attract a higher tax of 18 per cent as against 15 per cent as of now.
