English Premier League soccer champions Manchester United have filed a preliminary application with the Singapore Exchange for a planned listing, a source with direct knowledge of the deal said on Thursday.
China has grown extraordinarily to become the world's second largest economy.
Around 75 per cent, or 372 stocks, that are part of the BSE500 are trading at least 10 per cent below their all-time high levels, despite the index hitting a record high 20,515 points on the BSE in intra-day trade on Wednesday, surpassing its previous high of 20,390 touched in March 12. The index, which accounts for 93 per cent of BSE listed companies' market capitalisation, has gained 8 per cent from its recent low of 18,983, touched on April 19. In comparison, the benchmark S&P BSE Sensex gained 6 per cent over the same period, but is still nearly 4.5 per cent away from its all-time high of 52,517 that it hit on February 16.
Stick to export-focussed plays, large-caps, say analysts
While three of the top five FPIs - Capital, Government of Singapore, and Vanguard - have seen their investment value more than triple, India's benchmark indices have risen just 70%.
The improving earnings and economic outlook has titled the scales back in favour of Indian equities this year, reports Pavan Burugula.
In the past few years, MFs have emerged as significant institutional buyers, often offsetting the selling by FPIs.
Interestingly, the shares sold by Citigroup Global Mauritius in the open market through the block deal counter of the Bombay Stock Exchange have been bought by another private fund house Credit Suisse (Singapore) at the same price.
China's rapid economic growth will continue to support its people to accumulate wealth.
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.
According to financial services major Credit Suisse' research report, Reliance Industries' neutral weight, which has been rising rapidly, is causing problems for all types of 'long-only' institutional investors. The report said domestic index investors are constrained by rule imposed by the regulator that they cannot own more than 10 per cent of their assets under management in a single stock.
Bank of America Merrill Lynch, Citigroup, Credit Suisse, Goldman Sachs International, JP Morgan Securities, Morgan Stanley, Nomura and UBS have confirmed their commitment to the FSA Rule and the supporting Code on remuneration practices. These were published in August and would come into force on January 1, 2010 (and cover payments for performance year 2009).
Nike Inc, Adidas AG and other companies may cut their spending on sports sponsorships after the unrelenting media coverage of pro golfer Tiger Woods' marital infidelity, a Credit Suisse analyst said on Wednesday. Omar Saad said in a research note that Nike and other companies are being forced to rethink the effectiveness of the vast sums of money they spend on individual and team sponsorships.
Credit Suisse thinks it possible for the company to narrow its forecast ('guidance') range.
Khara will replace SBI Chairman Rajnish Kumar, whose three-year term comes to an end on October 7.
According to the Credit Suisse Global Wealth Report published for the first time, the total wealth of India has trebled in a decade to $3.5 trillion. By 2015, the country's wealth could nearly double to $6.4 trillion.
Will 2022 be a year of contrasting narratives -- one filled with caution and the other with continued optimism?
According to the annual Hedge Fund Investor Survey, amid the rising optimism about the growth of hedge fund industry, assets are forecast to rise by 25 per cent this year.
Akruti City, Omaxe, Sobha Developers, among other property developers, are pledging shares with lenders to provide additional security, apart from hypothecating properties to borrow funds, according to information submitted to the stock exchanges. Promoters of Akruti, Omaxe and Sobha have pledged their shares with Indiabulls Financial Services, financiers like Dubai-based BankSarasin & Co and Credit Suisse as a liquid security for loans against properties.
Experts said concerns over the Union Budget, too, had weighed on the market performance.
Making a presentation on Indian Real Estate Sector: Slumdog or Millionaire at an event hosted by the Observer Research Foundation, Sameer Nayar, managing director and head of real estate (Asia Pacific), Credit Suisse, said that land use laws in India are the most antiquated.
Finance -- the most battered sector by the global meltdown -- is making a strong comeback.
ITC Infotech, an IT services firm and a wholly owned subsidiary of tobacco-to-hotels conglomerate ITC Group, has acquired New York-headquartered Pyxis Solutions - a provider of quality assurance and testing services - for $25 million (around Rs 105 crore). This is its first all-cash acquisition in the last eight years, funded through internal accruals.
A consortium of Indian and Abu Dhabi investors, which is believed to include steel czar Lakshmi Mittal, is planning to bid for UK property company British Land, says a media report.
The initial public offer of Adani Power, which closed today, got subscribed over 14 times with most of the bids coming in from institutional investors.
As the Reserve Bank maintained a status quo on key policy rates, analysts said higher demand due to supply constraints will not allow inflation to ease as quickly as anticipated and the apex bank may be forced to increase rates once more by the year-end.
International brokerages, especially those which have made recent entry into the domestic market, are lining up to acquire the institutional broking business of the city-based Brics Securities.
Over the next three to five years, according to a Credit Suisse report, these cheap laptops and netbooks could add 170-250 million units globally to the current figure of around 300 million units. Netbooks sales, alone, could be 25 million units in 2009.
The whopping numbers are just a continuation of a strained labor market as employers in America slashed 5,33,000 jobs in the month of November, the maximum downsizing in 34 years. Right from telecom giant AT&T to battered banking major Credit Suisse to steel maker ArcelorMittal, the layoffs are spread across the sectors, amid the worst financial turmoil since the Great Depression of 1930s.
Q3 revenue growth estimated at 1-3% q-o-q, currency headwinds to weigh
The slowdown had been brewing since 2016 but was intensified further by several disruptions in the past two years including demonetisation.
Rumours in the bureaucracy on his successor include the names of Sajjid Chinoy of JP Morgan, Rathin Roy of the National Institute of Public Finance and Policy, Neelkanth Mishra of Credit Suisse and the principal economic advisor, Sanjeev Sanyal.
Advertising growth in emerging markets such as China remained robust this year and would help offset any slowdown in developed countries, according to Miles Young, who takes over as chief executive of the Ogilvy Group in January.
The government has given an option to telcos to pay back interest on dues through equity and also conveyed that it has no interest in acquiring any telecom company, a top official of debt-ridden Vodafone Idea has said. Vodafone Idea Ltd (VIL) managing director and CEO Ravinder Takkar in an interview to PTI said it is clear that the government wants the company to compete in the market and there should be at least three private service providers in the telecom sector. "I have had many many interactions across various parts of the government leading up to this announcement (telecom reforms).
The New-York based Goldman Sachs, one of the world's oldest and largest investment banking firms, plans to enter the buoyant mutual fund business in India.
AirAsia founder Tony Fernandes began talks with bankers to take Asia's number one budget airline private after a plunge in its stock price put $200 million worth of loans borrowed against AirAsia's shares at risk.
The Ruias have received overwhelming response from international banks for funding of their proposed bid to pick up Hutchison's 67 per cent equity stake in Hutchison-Essar Ltd, in which they hold the remaining stake.
The report also compares the entertainment and media market of India with China. It clearly states that the industry in India has grown because of a benign regulatory environment.
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