The Reserve Bank of India is likely to announce a "gradual" exit from its easy money stance and may resort to raising key rates to squeeze out excess liquidity from markets in its forthcoming review meeting, investment banking firm Barclays Capital says.
The brokerage firm cautioned that there is a possibility of further downside risks to growth, especially in the near term as RBI's policy interest rate cuts in recent months has not been translated into reduction in bank lending rates.
According to the financial services firm, India's growth pattern remains skewed towards the services sector and is heavily dependent on domestic consumption, which it said, raises the possibility that the imbalance between the services and other sectors may widen even further.
Premier League club Liverpool went up for sale Friday after American owners Tom Hicks and George Gillett appointed Barclays Capital to find a buyer.
The 30-share Sensex ended down 112 points at 20,112 and the 50-share Nifty closed 43 points lower at 6,114.
Markets ended lower on Tuesday, amid weak European cues, weighed down by profit taking in autos and select bank shares.
According to Barclays Capital, the government's decision to lower the withholding tax on foreign borrowings could produce an additional $2 billion per year inflow in the medium term -- a material sum against annual balance of payments forecasts (around $15 billion deficit).
Ashishkumar Chauhan says that the exchange is seeking a valuation of about $1 billion.
Due to tight liquidity condition, RBI would cut cash reserve ratio.
A recent report by Barclays Capital, the global consultancy firm, forecast the Certified Emission Reduction price to surge 92 per cent in the first half of this year.
The aftershocks of the earthquake and Tsunami in Japan will be felt in industries in other parts of Asia and Europe.
The move would result in around 25-30 job cuts.
The hedge fund servicing unit would be headed by John Nicholson, a former Barclays Capital executive, who would become the managing director in Citi's US trading team, the Financial Times reported.
Barclays further said there is increased momentum in announcements of equity offerings in public sector units, 'which suggests upside risks to our estimate of fiscal divestment proceeds of Rs 25000 crore in the next fiscal,
Gold will first slide to $1,310-1,325 early next year on profit booking. But, the precious metal will get good buying support from central banks in Asia and West Asia regions, who are looking for opportunities to increase their gold portfolio.
The new members, Jitesh Gadhia, Marc Holtzman, Simon Hargreaves, Jason Rynbeck and Frank Hancock, would report to Barclays European Investment Banking and Debt Capital Markets' head John Winter, Barclays said in Mumbai on Tuesday. "The appointments will significantly enhance our ability to advise our clients on corporate strategy, divestitures and acquisitions with particular focus on clients in high growth markets in Asia, Central and Eastern Europe and West Asia."
The pay rise at Barclays Capital is expected to be backdated to June this year as the bank looks to compensate its staff following the bonus crackdown.
The US owners of Premier British League Football team Liverpool are looking to sell the club and have appointed Barclays Capital to find a buyer, a source familiar with the matter said on Sunday. American businessmen Tom Hicks and George Gillett are facing a demand to repay 100 million pounds ($153 million) of the club's 237 million pounds debt to its lenders, Royal Bank of Scotland and US bank Wachovia, in July.
"The slump in activity in emerging Asia is over. We believe the region returned to positive growth of the aggregate level in the first quarter of 2009 -- driven by China and India -- and the recovery is broadening to the more open industrial economies in 2009," Barclays Capital, an investment banking arm of Barclays, said.
Financial services major Barclays is to reduce its headcount by about 2,100 in investment banking and money management, as part of its cost cutting measures.The company is cutting 1,300 people from Barclays Capital, the debt-focused investment banking business, 500 from the Barclays Wealth private banking arm, and 330 in asset management business Barclays Global Investors. Overall, the cuts amount to 7 per cent of the three divisions' staff.
Barclays Bank on Thursday launched its retail and commercial banking service in India. So far, the bank operated in the country through Barclays Capital, its investment division.
Having dominated the summer placement scene at IIMs, companies like McKinsey, Boston Consultancy Group and UBS showed up for the first time for placements at IIT Bombay.
India's largest power generation company National Thermal Power Corporation on Tuesday embarked upon a major overseas fund raising exercise and decided to establish medium term note programme of $1 billion.
As part of its expansion drive in the high-potential Indian financial services market, Barclays Bank plans to pick up a 10 per cent stake in asset reconstruction company, ARCIL, from domestic banking major ICICI Bank.\n\n
Sudhakshina Unnikrishnan of Barclays Capital believes that global supplies and high production will keep sugar prices subdued. According to her, there has been a price correction of around 25% in six months.
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On June 27, the Cabinet approved a new formula that uses weighted average of the price of LNG into India and average price at major gas hubs.
In the last 3 months, rupee has depreciated 16% against dollar.
CPI inflation slowed to 9.39% in April compared with 10.39% in March.
Does away with much of auction process in this market and reinvestment checks
No respite in sight as not many big deals, initial public offerings in pipeline.
Barclays is not alone in trying to decide the best size and shape of its investment bank in a changed regulatory landscape.
Jaipur-based start-up Logic Roots aims to teach children math skills through board games.
Another year of strong performance by these export-oriented sectors likely as US economy revives and rupee is expected to be under pressure.
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