Saurabh Agrawal, managing director and head, investment banking, has reason to feel pleased with his team at DSP Merrill Lynch -- his firm tops the M&A league table and should secure itself a reasonably good ranking in the debt and equity fund-raising sweepstakes by the time the year draws to a close.
India Inc has topped among its Asian counterparts when it comes to the monetary measures taken for retaining the right talent, while doling out highest salary hikes to its finance executives across the region. According to the CFO Asia magazine's latest compensation survey chief financial officers and other finance executives, CFOs as well as the second-tier finance executives in India got the highest pay hikes in Asia in 2007, while ousting Singapore, Hong Kong and China.
According to a Thomson Financial research, no Indian investment bank figures in the top ten list of the M&A deals that was struck this year, which was topped by UBS.
India Inc seems to be leveraging well on the country's growth story and is poised to post better earnings if the corporate advance tax payments made in the December quarter are any indication.
As India's top Cabinet Ministers and industry leaders landed in Washington for crucial talks with their US counterparts in Washington, Corporate America on Wednesday urged the Obama Administration to embrace India as a knowledge partner.
The Make in India campaign was launched by Modi in September.
High or low, back and forth, Mukesh Ambani seems to gain from any which way the market moves as his wealth grew by over Rs 2,600 crore (Rs 26 billion) after the initial setback saw the Sensex tanking over 1,700 points and the top five richest Indians losing about Rs 1 trillion.
Google is the most attracitve employer in India followed by Sony
India's expectation of Twitter complying with the country's rules for social media platforms will not change with its takeover by Elon Musk, according to a senior minister.
Mirroring the increase in the earnings of their companies, the chief executives and promoters of India's top listed firms gained handsomely from the boom last financial year. Their remuneration includes salaries, perquisites or perks, and profit-linked commissions.
Amazon CEO Jeff Bezos is in India this week and is expected to meet top government functionaries, business leaders and SMBs.
Ajay Banga was on Wednesday appointed the next president of the World Bank, becoming the first-ever Indian-American to head the global financial institution which said it looks forward to working with him at a time when it's tackling the toughest development challenges facing developing countries. "The executive directors of the World Bank today selected Ajay Banga as president of the World Bank for a five-year term beginning June 2, 2023," the bank said in a press statement. In February, President Joe Biden announced that the US would be nominating Banga, 63, to lead the World Bank because he is "well equipped" to lead the global institution at "this critical moment in history."
More corporates from across the world are keen on setting up operations in India, ranked the top destination for investments and acknowledged as being strategically important to them by global businesses.
The Supreme Court Thursday dismissed a plea filed by Facebook India Vice President and MD Ajit Mohan challenging the summons issued by the Delhi Assembly's Peace and Harmony committee for failing to appear before it as witness in connection with the north-east Delhi riots last year.
Majority of India Inc is of the view that extreme moves in the form of monetary tightening made by the Reserve Bank to curtail inflationary pressure would slow down economic growth, a survey by industry chamber Assocham reveals.
Photo-messaging app Snapchat on Wednesday said its monthly user base has reached 100 million in the country, and the company will continue to anchor its efforts towards growing and providing more resources to its community of Indian creators. Snap Inc, the parent company of Snapchat, virtually hosted the second edition of 'Snap in India'. At the event, Snap co-founder and CEO Evan Spiegel announced the milestone of reaching 100 million Snapchatters monthly in India.
India Inc resorted to salary cuts to protect their profits in the June quarter, as revenues came under pressure due to the second pandemic wave that affected nearly the entire country, a report said on Wednesday. The "weak" wage growth will prove to be a drag on the overall economic recovery in the medium term as it will affect household consumption, the report by India Ratings and Research said. An environment of pandemic-led uncertainty and elevated inflation could impact the level of spending and hence the overall demand, it said.
'The government is trying to kickstart the investment cycle in India and while the corporate investments are yet to gather momentum, there are early signs of the same.'
Top financial professionals of India Inc are keen on converging to global accounting norms and want the present ones to be aligned with either the International Financial Reporting Standards or the US GAAP.
Donations from corporates to the national parties increased by 109 per cent between FY 2017-18 and 2018-19, said an analysis by the Association for Democratic Reforms (ADR), an NGO working for bringing in transparency in electoral politics.
These could include strengthening the public-private partnership (PPP) dispute resolution mechanism, uniform PPP institutional framework, easier terms for infrastructure companies accessing bond markets, and tax sops, Business Standard has learnt. Investment in infrastructure projects with high multiplier effect has been the Centre's main plank to revive the economy, create employment and boost consumption.
The rupee, which rose by over 12 per cent against the dollar this year, has slowed down the hiring plans of companies like Infosys, Satyam and HCL Technologies and also put pressure on their margins. Country's top software exporters -- TCS, Infosys, Wipro, Satyam and HCL Technologies have added 25,801 employees in the second quarter of 2007-08, against 27,000 in the second quarter of last fiscal.
At the World Bank Banga will be replacing David Malpass, a former Trump treasury official, reports axios.com. Malpass had already announced that he will resign by July, months ahead of his term expired. "Ajay is uniquely equipped to lead the World Bank at this critical moment in history," President Biden said in a statement. Banga, 63, currently serves as vice chairman at General Atlantic.
Elon Musk, the owner of Twitter, said he has "killed" the new 'official' label for certain verified Twitter accounts just hours after the feature was visible on multiple handles of governments, politicians, officials and media houses. Just hours after the feature went live, he hinted that it simply didn't work. "I just killed it," he said in a tweet replying to a web video producer Marques Brownlee's tweet of the 'official' label vanishing after a brief appearance.
Many analysts find market expensive, even at current levels.
India's largest listed pharmaceutical (pharma) company - Sun Pharmaceutical Industries (Sun Pharma) - is expected to maintain its outperformance vis--vis the sector's, as its multiple bets on specialty products, improving product mix, recent acquisitions, and branded business are finding favour with brokerages. While it has gained 7 per cent over the past year, the Nifty Pharma Index is down 13.6 per cent. Its outperformance over two years has been fairly evident, with the market leader gaining 66 per cent to Nifty Pharma's minus 1.4 per cent.
All Sensex components ended in the red. IndusInd Bank was the top loser, followed by Tata Steel, HDFC, ICICI Bank, Axis Bank, Infosys and ITC. According to traders, volatility heightened in global markets as US Federal Reserve's interest rate cut stoked concerns over an impending economic recession.
After India banned 59 Chinese apps last month, at least three more China-based video apps - Snack Video, Likee Lite, and Zili - have now made it to the list of top 10 downloaded apps in India on Google Playstore.
Earnings growth in the early-bird sample has been driven by banks and iron & steel companies.
The allegedly contemptuous tweets were critical of the top court and posted by Bhushan on Twitter on June 27 and June 29.
AI and machine learning will only continue to grow in 2022, with a significant increase in the demand for such roles, notes Sekhar Garisa, CEO, Monster.com.
Of the 508 crorepatis, 17 are from newly-listed companies while 26 joined their companies last year.
With a package close to Rs 25 crore (Rs 250 million), Mukesh takes home over 10 times the annual remuneration of his brother Anil, with whom he parted ways over two years ago.
Project, infrastructure sector emerged as the top employment generator in March with 12 per cent rise in demand while petrochemicals industry reported 9 per cent growth.
Bill Gates with an estimated wealth of $86 billion topped the list for the fourth year running.
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