After the crunch period of 2009, the private banking industry, which caters to high net worth individuals, is once again in growth mode.
Share rises further to 73 per cent from 66 per cent last year; Some overseas i-banks seen scaling down operations
Amid slowing growth and low interest rates, investors will need to focus on stock-picking, suggests John Remmert.
The net proceeds of the fund raising will be used to repurchase certain equity shares issued to Tata Motors and for general corporate purpose.
On Sunday, she fell ill at Ground Zero and was forced to leave the 9/11 memorial ceremony in New York early.
Bank of America Merrill Lynch, Citigroup, Credit Suisse, Goldman Sachs International, JP Morgan Securities, Morgan Stanley, Nomura and UBS have confirmed their commitment to the FSA Rule and the supporting Code on remuneration practices. These were published in August and would come into force on January 1, 2010 (and cover payments for performance year 2009).
With private consumption growing 3.6 per cent versus 18.1 per cent for government in April-September 2009, and investment growth falling to around half, any decision on phasing out has to be taken carefully.
Emerging Asia - China, India, Indonesia and Thailand - is fast becoming the main engine of growth in the Asia-Pacific region.
The brokerage expects single-digit returns from the Bombay Stock Exchange's Sensex with year-end target of 18,000. The Sensex has fallen almost 8 per cent in the last seven trading sessions because of global liquidity tightening.
According to the 2010 Merrill Lynch-Capgemini World Wealth Report, in India, the number of high net worth individuals (HNWIs) with minimum investable assets of $1 million (around Rs 5 crore) rose to 126,700 by the end of 2009 compared to just 84,000 in 2008.
Active citizenship through peaceful protest is a powerful tool, says Merril Diniz, who was part of a peaceful march that was struck down by police and CRPF personnel, while protesting against church attacks in Delhi.
Hemendra Kothari, the former chairman of DSP Merrill Lynch, is set to acquire Ambuja Cements' stake in ING Vysya Life Insurance for around Rs 190 crore.
With the financial turmoil ravaging economies globally, four out of five investors feel the world will continue to be gripped by recession over the coming year, despite the injection of billions of dollars by various governments, says a survey.
A net 75 per cent of the fund managers surveyed in August across the globe believe the world economy would strengthen in the coming 12 months -- the highest reading since November 2003. The reading has significantly increased from 63 per cent in July, the report said. The August survey revealed that investors were matching their sentiment with action, by investing in equity market.
It's one Forbes list where none would want to figure, but Ramalinga Raju, founder-chairman Satyam Computers (now Mahindra Satyam), has managed the feat of being among the world's 10 most outrageous CEOs.
Raju, the only Indian on the list dominated by Americans, owes his place on the list to his disclosure in January about committing the country's biggest ever corporate fraud.
Finance -- the most battered sector by the global meltdown -- is making a strong comeback.
There was a time when experts, analysts, rating agencies found it very easy to describe the best banks.
This is the second largest decline in the world. In 2007, India had posted 22.7 per cent growth, the fastest in that year.
Inflation is likely to peak at 8.7 per cent by end-March and the Reserve Bank is likely to begin tightening its monetary policy from its January policy review itself, a report by Bank of America Merrill Lynch (BofAML) has said.
Banks in India are expected to cut lending rates by up to 50 basis points by September as there is sufficient liquidity in the system.
Growth remains weak, inflation is within 2-6% range, rate cut would help recoup forex reserves
The battered entity had received taxpayers money to the tune of $25 billion in October 2008 and another $20 billion during the time of Bank of America's takeover by Merrill Lynch earlier this year.
According to global financial service provider Merrill Lynch's survey of fund managers for November, investors have remained heavily overweight on the emerging market equities and continue to favour the global technology, energy, materials and industrial sectors.
India's population of high net worth individuals shrunk 31.6 per cent in 2008, reversing a seven-year rising trend, a DSP Merrill Lynch and Capgemini report said on Thursday.
With hopes of economic recovery gaining momentum, the wealth of high net-worth individuals across the world are likely to touch a whopping $48.5 trillion by the year 2013, a survey says.
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According to the BofA Merrill Lynch fund manager survey for October, investors are concerned that global economic recovery could falter, while emerging market confidence have started to rebuild.
The Treasury has already pledged the first-half of the mega $700-billion bailout package. On Thursday, the Senate passed the request by President George Bush to release the second-half of the rescue plan. The request was made by Bush on behalf of President-elect Barack Obama.
Notwithstanding the global financial turmoil, the mid-market merger and acquisition activity in the Asia-Pacific region is likely to remain buoyant this year on attractive valuations.
Reform will be a priority with the new Congress. But where to start?
The US Fed will decide if it should raise interest rates from near-zero levels first time in a decade.
He may go through bankruptcies, but he couldn't be a savvier self-marketer.
DSP Merrill Lynch Ltd said Caterpillar Commercial SA along with its holding company Caterpillar Inc offered to acquire up to 19,779, 914 shares, or 62.25% of the paid up equity share capital, of Hindustan Powerplus Ltd.
After one of the most disastrous weeks in the history of Wall Street, Warren Buffett decided to invest $5 billion there.
With America's fourth largest investment bank Lehman Brothers filing for bankruptcy protection and Merrill Lynch being bought over by the Bank of America, placements at the Indian Institutes of Management will be affected.
Bank of America Securities-Merrill Lynch raised its growth forecast to 6.3 per cent from 5.3 per cent for the current fiscal. BAS-ML has also revised the country's growth projection to 7.3 per cent for the next fiscal from 7.1 per cent earlier.
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).
Earlier, in September the Federal Reserve had given a formal approval to the Bank of America for acquiring troubled financial services firm Merrill Lynch. The US banking giant further said, "The reductions are designed to eliminate redundancies created as a result of the merger with Merrill Lynch and to reflect the current recessionary environment."
Even as most of the 50,000-odd employees at Satyam Computer Services remain concerned about job and pay cuts, 250 to 300 employees working on the Merrill Lynch project have accepted an offer from Bank of America (BofA), the bank that bought the sub-prime meltdown-hit investment bank in September last year.
Fears of an economic slowdown in the US, and a consequent spread of the crisis to Europe and other parts of the world, resulted in oil prices falling over 12 per cent since Monday, the largest weekly fall since early 2004.
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