Experts say a lot of new wealth is being generated by promoters selling their stake.
An estimated $344 billion has been illegally removed from the Indian economy between 2002 and 2011
'My resignation is a larger governance and governance-plus kind of an issue, which the board of directors of the bank should be introspecting.'
The predictions by the world's biggest wealth manager were based on a statistical model using the results from the previous five tournaments and controlling for factors such as team strength and success in the qualification phase.
UBS stepping in to save Credit Suisse with a $3.2-billion acquisition has provided the beleaguered Swiss bank's India employees a glimmer of hope. The surprise deal - engineered by the Swiss government - has triggered optimism of fewer job losses at Credit Suisse's India unit and better synergies at key verticals, such as wealth management and investment banking. "UBS is a much stronger hand. Coming within its fold will give Credit Suisse's wealth management and investment banking divisions a good home.
UBS Wealth Management Americas, Bank of America's Merrill Lynch and Morgan Stanley all employ several retired Olympic athletes.
UBS India, the domestic franchise of Swiss banking major UBS Group which last month surrendered its banking licence, has started laying off around 50 people, who are affected by the decision.
In interview with FSA in front of Sebi, mystery man denies owning UBS account used to execute $2.5-billion unauthorised trades.
According to RBI data, it had 57 employees in India at the end of March 2012.
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The move draws a line under the Swiss government's rescue of UBS nearly five years after the bank threatened to collapse under the weight of more than $50 billion in losses on mortgage securities.
Global financial markets are wrong in hoping that the worst is over in geopolitical crises such as the Iran-Israel conflict and the Russia-Ukraine war, wrote Christopher Wood, global head of equity strategy at Jefferies, in a recent note to investors called 'GREED & fear'. While most investors and the media are focused on United States (US) Federal Reserve policy and the "endless chatter" of Fed governors, Wood believes the news flow in the financial sphere "pales into complete insignificance" compared with the "tectonic shifts" going on in geopolitics.
The youngest winners of the thriving tech economy, many of whom came of age during the last financial crisis, aren't often interested in the ideas that attracted clients in the past.
Citi Bank on Wednesday joined the list of foreign banks that have exited the retail banking business in India as the US-based banking giant announced selling its consumer banking portfolio to Axis Bank for an estimated Rs 12,325 crore. Global banking majors such as ANZ Grindlays, RBS, Commonwealth Bank of Australia have scaled down their operations in India. In a mega-deal announcement on Wednesday, Axis Bank and Citibank said their boards have approved acquisition of Citibank's consumer businesses in India by Axis Bank.
Citibank on Wednesday joined the list of foreign banks that have exited retail banking business in India. Mumbai-based Axis Bank completed acquisition of Citigroup's consumer business for Rs 11,603 crore. Under the deal, Axis acquired consumer banking businesses of Citibank India, which includes credit cards, retail banking, wealth management and consumer loans.
The survey noted that the highest growth rates for gross domestic product were recorded by China (10.7 per cent) and Taiwan (9.1 per cent).
Switzerland remains the 'biggest private banking financial centres for cross border wealth management' with assets worth over CHF 2.11 trillion ($2.2 trillion), as per the study conducted by the Swiss Bankers Association and the Boston Consulting Group.
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.
The FTSE 100 is up by about 2 per cent since the start of 2015, although the index is down 6 per cent from a record high of 7,122.74 points reached in April.
There are still bumps in the road ahead for Swiss banks.
Swiss private bankers are likely to reduce their exposure to wealthy Indian clients as they cut down their discreet banking services in countries like Germany, France and the United States, analysts say.
United Spirits had a tough time in recent past due to management related issues. Going ahead, corporate governance is a big challenge, say experts.
Tax Guru Anil Rego answers your personal income tax queries
Offloading shares in ONGC, CIL, NHPC may fetch govt more than the year's target.
IndiGo had debt of Rs 3,912 crore at end of the June quarter.
These exist in a unique world of by-invitation-only properties -- those that are never advertised and which money alone cannot buy. One cannot simply walk in for a tour of these apartments. A buyer must first meet the developer's targeted social criteria to get invited for a walkthrough of the property.
Be a disciplined investor for attractive returns, says fund managers.
India has reached a significant milestone on Friday (November 28) by achieving Rs 100 lakh crore or 100 trillion market cap.
Chinese govt has itself to blame for first trying to slow down the property market and later propping it up.
Few top honchos of India Inc did very well in 2014.
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