The domestic equity market on Thursday snapped the five-day losing streak as the benchmark Sensex recouped its lost ground and closed 78 points higher on fag-end value buying in banking, energy and financial stocks. A positive opening in the European market helped the investor sentiments even as clouds hovered over the health of the global banking system amid Credit Suisse woes and bank failures in the US. Halting its five-day losing streak, the 30-share BSE benchmark rose 78.94 points or 0.14 per cent to close at 57,634.84 points, with 17 of its constituents ending in the green.
The Transforming Finance initiative seeks to address these problems by including all stakeholders in a process of democratizing finance through a deep re-structuring of its mechanisms.
Ramalingam Kalirajan explains the pros and cons of both investment types.
One is really left wondering how India can ever claim to fare better than the United States and the United Kingdom in this space.
Swiss bank UBS has been fined Pounds 8 million in the United Kingdom after four of its senior employees were found misusing funds of customers, including two companies of Indian industrialist Anil Ambani-led group.
As the debate on alleged black money stashed by Indians in Swiss banks continues, Switzerland on Monday said it is looking forward to working together with the new government of India in its fight against tax evasion.
The government should publish a White Paper Indian wealth stashed abroad: Advani.
Switzerland makes public 2,600 dormant a/c; 4 from India.
Three leading international pharma companies have started due diligence to acquire Wockhardt Ltd's wholly-owned Irish generic drug company, Pinewood.
'I know margins are under pressure, but have banks begin to stoop so low to enhance their floats or slip in strange charges?' asks Keya Sarkar.
Now fraudsters may log on as your "friend." How Facebook, LinkedIn, and other social networking sites are fighting a rise in scams
Switzerland, UK, Venezuela, US and France are t
Swiss police raided the headquarters of the European soccer body UEFA on Wednesday to gather information about a contract signed by Gianni Infantino, now head of the global soccer body FIFA, that was reported in the Panama Papers.
Swiss banking major UBS on Monday said it would adopt a new compensation model for the board of directors for next year and its top executives would not receive any bonus for 2008.
SIT on black money on Monday decided to widen its probe as new names of Indians with Swiss bank accounts have come up
UBS is completely focused on India and especially on gaining a foothold in the wealth management space. The Swiss bank has operation centers in Hyderabad and is entering into projects in Mumbai. The latest subprime calamity struck deep wounds on UBS' management, forcing its Chairman Marcel Ospel to step down. The Swiss bank raised about $13 billion from investors in Singapore and West Asia last year.
This marked an increase from 2,63,000 at the end of 2013
The list includes 1,195 Indians with funds totalling $4.1 billion.
The world number one believes he is pulling away from his rivals in men's tennis.
Switzerland has been perceived for long as a safe haven for alleged illicit funds or black money
The US-Swiss deal giving the Internal Revenue Service access to 4,450 secret accounts came after bitter wrangling that even put their bilateral ties in jeopardy.
A survey conducted by Swiss banking giant UBS found Oslo to be the most expensive in the world.
The bank remains on high alert to intervene if markets freeze.
The startling report comes at a time when many analysts are concerned over almost all the key indicators heading south or even contracting, forcing the government to offer massive tax giveaways.
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India and Switzerland have long standing bilateral ties across diverse areas including in the economic sphere.
In 2011, the Indian government received the names of 782 Indians who had accounts with HSBC.
Former minister responds to Sheela Bhatt/Rediff.com's questions.
Enjoying the backing of the regulator, Gill has identified the core problems, ring-fenced the banks from "influencers" and is in the process of building a new team. Now, he needs to play a Vikram Pandit for YES Bank, says Tamal Bandyopadhyay.
Anil Divan, who is fighting the black money case in the Supreme Court, speaks to Sheela Bhatt/Rediff.com.
A global group of government anti-money-laundering agencies said that financial institutions have not done enough to police suspicious financial activity by officials at soccer's global governing body FIFA.
Fuelled by the $57.8-billion merger of HDFC twins (HDFC Ltd and HDFC Bank), M&A (merger and acquisition) transactions in India touched a record high of $124.2 billion in the first half of 2022-23. Bankers said with several transactions, including the government's stake sale in IDBI Bank and Hindustan Zinc in the pipeline, the ongoing financial year will end up as the best year for M&A activity in the country. Apart from the HDFC transaction, the $6.5-billion acquisition of Holcim stake by the Adani family and L&T's $3.2-billion acquisition of Mindtree added to the record transactions in the first half of FY23.
The Supreme Court has not only exposed the BJP government's intentions, it has also questioned the government's credibility, which is a serious blow, says Sheela Bhatt/Rediff.com
Indore-based textiles firm Neo Corp is the latest in a series of Indian names that have been published in the official gazette of the Swiss govt.
Expectations that the shutdown will hurt the economy and prompt the Federal Reserve to postpone the start of its withdrawal of monetary stimulus weighed on the US currency.
A raft of banks could face tough questions in the sweeping US crackdown on alleged corruption in global soccer as prosecutors review how much they knew about millions of dollars in bribes flowing through the US banking system to accounts around the world.
Bayern Munich president Uli Hoeness, once one of Germany's most admired soccer managers, goes on trial on Monday charged with tax evasion in a case that has shocked the nation and changed attitudes towards paying taxes.
A German court convicted Uli Hoeness of tax evasion on Thursday and sentenced the soccer manager who turned Bayern Munich into one of the world's most successful clubs to three-and-a-half years in jail.
These include Goldman Sachs, HSBC, UBS, Deutsche Bank, Barclays, RBS, Citigroup and JP Morgan and they have said in their respective regulatory filings that they are cooperating with the relevant authorities in the investigations.
Foreign banks were ahead in terms of technology, but that is no longer the case as Indian private banks steal the innovation march.
He said his party wants to eradicate corruption and if "Modiji takes any step against the menace, the Congress party will lend its hundred per cent support".
