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 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.
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.
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.
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".
A right wing Swiss politician described the German government's plans as a declaration of war.
Foreign banks were ahead in terms of technology, but that is no longer the case as Indian private banks steal the innovation march.
The S&P BSE Sensex dropped 1 points to end at 26,396 and the Nifty50 slipped 2 points to end at 8,109.
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.
Head of central banks from various countries get into a 'Basel huddle' every second month at Basel at the headquarters of the Bank for International Settlement.
Highlights of BJP's prime ministerial candidate Narendra Modi's speech at the Maha Garjana rally in Mumbai
In a ruling in May, a UK high court judge had refused to overturn a worldwide order freezing Mallya's assets and upheld an Indian court's ruling that the consortium of 13 Indian banks were entitled to recover funds amounting to nearly 1.145 billion pounds.
The rupee depreciated 44 paise and slipped below the 81-mark against the US dollar for the first time in early trade on Friday, weighed down by the strong american currency and risk-off sentiment among investors. Forex traders said escalation of geopolitical risk in Ukraine and rate hikes by the US Fed and Bank of England in a bid to contain inflation sapped risk appetite. Further, the strength of the American currency in the overseas market, a negative trend in domestic equities, and risk-off moods amid escalation of geopolitical risk in Ukraine weighed on the local unit.
Bayern Munich President Uli Hoeness will stand trial for tax evasion in March, a German court said on Monday, but his club wants him to stay on in his current role.
We may now be experiencing the darker side of the massive monetary stimulus of past years, said Rajan.
What's different this time is that global financial stress -- which has its genesis in four policy choices made in recent years -- is juxtaposed with a more resilient real economy, observes Sajjid Z Chinoy, chief India economist at J P Morgan.
Lafitte was appointed neutral expert for the contentious 450 mw power project in May by the World Bank after Pakistan said construction of the Baglihar project violated the 1960 Indus Water Treaty.
Aided by the $57.8-billion merger of HDFC Bank and HDFC, India Inc reported its highest ever mergers and acquisitions in calendar 2022 at $171 billion as against deals worth $145 billion announced last year. The acquisition by the Adani group across cement, media and ports dominated the headlines with the conglomerate making its foray into the cement sector by buying Swiss materials firm Holcim's stake in Ambuja Cements for $6.5 billion. The Adani family's additional $4-billion open offer for Ambuja did not get a response because shareholders preferred to stay invested with the new owner.
Mallya claims private airlines were discriminated against by the Indian government, which bailed out state-owned Air India but did not assist his own Kingfisher Airlines and now Jet Airways.
According to the report, 1,195 Indians, nearly double the old list of 628 shared by the French government with India, figure in the HSBC list with a total balance of Rs 25,420 crore.
The demand for gold is expected to take a hit if the price of the yellow metal - which has been hovering around Rs 60,000, a level never seen before - remains elevated. Due to a sharp increase in price in a very short time and the flow of smuggled gold continuing, gold price in Mumbai is quoted at around Rs 59,000 per 10 gram. Typically, overall demand in the January-March and July-September quarters is moderate-to-dull, which is the case in the ongoing period.
The SIT found and reported that there was no amount shown in almost 289 HSBC Geneva entries, while 122 of them were repeated twice in the same list.
Among India's capital-starved local banks, Essar is viewed as too big to fail.
The government on Monday disclosed before the Supreme Court eight more names including that of Pradip Burman, one of Dabur India promoters, a bullion trader and Goa miners against whom it has started prosecution for allegedly stashing blackmoney in foreign banks.
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.
Rahul said the poor, the labourers and the middle class are being sacrificed in the demonetisation 'yajna' for the benefit of the "super-rich families" of the nation.
The largest private sector lender is also looking to open a full-fledged branch in China, where it already has a representative office, managing director and CEO, Chanda Kochhar said during the bank's 19th annual general meeting in Vadodara.
Former Dabur director gave sketchy details of investors and his employer after two years of tax summons.
Swiss brokerage UBS joins European banking peer HSBC in shutting down its offshore derivative business
Billionaire Gautam Adani's son Karan will helm the cement firms his group has acquired to become India's second largest cement player and extend his burgeoning empire that spans from ports and energy to airports and telecom.
Reminding the Bharatiya Janata Party government of its poll promise of bringing back black money, Congress general secretary Digvijay Singh on Thursday dared the Centre saying if it has courage it should reveal the name of account holders.
The unearthing of capital flight of "black" money Indians have allegedly stashed away in Swiss banks could add $30 billion to the country's forex reserves, says a Bank of America Merrill Lynch report.
UBS reduced its Nifty target to 8,600 by December from 9,200.
The government may on Monday file an additional affidavit in the Supreme Court over the black money issue, stating clarification on its earlier stand of not revealing the names of those account holders who have deposited money in foreign banks.
India's GDP growth will slow down to 5.5 per cent in FY24 from the 6.9 per cent expected in the current fiscal 2022-23, a Swiss brokerage said on Wednesday. The slowdown was attributed to slowing global growth and tightening of monetary policies in the report by economists at UBS India. It said India will be among the "lesser affected economies" in the world, but made it clear that the world's fifth largest economy is not immune from global headwinds.
Experts of both the countries will meet by mid-September 2016 to further discuss the modalities for the reciprocal bilateral implementation of AEOI between India and Switzerland with a view to reaching an agreement at the earliest, possibly by the end of the year
Escalating the attack on Prime Minister Narendra Modi over demonetisation, Rahul Gandhi on Saturday accused him of dividing the country between the rich and the poor and dubbed the move as "firebombing" on cash economy and farmers and labourers.
Switzerland's Federal Office of Justice (FOJ) on Wednesday handed over the first batch of evidence to US authorities for its investigation into alleged bribery schemes for soccer marketing rights.
Rejecting the charge that the National Democratic Alliance has done a U-turn on disclosure of names of black money holders, Finance Minister Arun Jaitley has said the government will not be pushed into an act of adventurism and jeopardise the chances of getting cooperation of other countries in future.
A major criticism of the new law is that it can become an instrument of abuse as it confers the tax enforcement authorities with strong discretionary powers, says Paranjoy Guha Thakurta.
