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The partially convertible rupee dropped to a record low of 64.13 per dollar on Tuesday and was trading at 63.38/42 on Wednesday, weaker than its close of 63.25/26.
Banks say they themselves red-flagged the transactions to RBI. It must be noted that these transactions are not outright evidence of fraud or proof of nefarious activities.
The culture of these firms is alien to the Indian financial system. Distressed assets funds are known for their ruthless recovery ethics. Slicing and dicing a company and selling it on a piecemeal basis is their usual practice. This is something Indian banks are finding a little uncomfortable.
Emerging economies, including India, are set to return to sustained growth trajectory by 2011 on growing domestic demand even as the downturn in the developed economies is likely to continue for the next several years, a report has said.
Big TV is also in talks with other private equity majors, though these are at preliminary stages, to raise funds. The exact quantum of funding to be raised from Carlyle would depend on the 'promises' by players, he said. The company is also in discussions with major players like The Blackstone Group, Providence and Kohlberg Kravis Roberts for raising funds.
The fashion entrepreneur owns two apparel brands Bhane and Veg Non Veg.
Strong response from institutional buyers has prompted the promoter family of India's largest real estate company DLF to raise the shareholding it had put up for sale from 100 million shares or 6 per cent to 168 million shares or nearly 10 per cent to raise Rs 3,850 crore from qualified institutional investors, including foreign investors.
Forget Starbucks coming into India. Witness the expansion of Caf Coffee Day, which is set to mushroom across the country.
In an effort to stem a possible counter-bid by China's Sinopec and others, ONGC Videsh Ltd, the overseas exploration subsidiary of state-owned Oil and Natural Gas Corporation, has through its advisor Deutsche Bank approached the large institutional investors of Imperial Energy to acquire their holdings.
Industry bigwigs and corporate heavyweights have been scurrying to get the best students for themselves. Naturally, salaries are headed north.
Some major private sector banks, such as Deutsche Bank, Yes Bank, Kotak Mahindra Bank, Standard Chartered Bank, and financial institution Industrial Finance Corporation of India (IFCI) are in the race to buy the Rs 500-crore standard loan assets and investments of the Industrial Investment Bank of India (IIBI).
Rally restricted to big stocks; FIIs have hit investment caps in many large companies.
In many parts of central and north India, monsoon reaches only in July.
"Less than 10 per cent of all publicly announced job cuts at European banks since 2002 are due to offshoring. Internal restructuring accounts for the lion's share," according to a latest research report by German banking giant Deutsche Bank.
Even as several SEZs are struggling to get off the ground, the Mahindras have managed to kick off their second SEZ at Jaipur, after their first one in Chennai.
Vodafone appointed to its board on Thursday a former group managing director at HTIL's parent company Hutchison Whampoa.
The rating was downgraded despite 25 per cent held by stronger partner Indian Hotels, which operates the company's seven properties in India.
Sweden has the world's highest negative rate.
Without exception, the top four majors beat Street estimates across all parameters - revenues, profitability, or net profit growth. However, what stood out were the large deal wins reported by the big two, TCS and Infosys.
An official close to the development said the tender invited by the SUUTI closed in the second week of this month and 12 parties submitted their expressions of interest.
Even as four students turned down lucrative offers from Deutsche Bank to start their own venture, at least two more are set to follow suit.
Like the US, India too has a sub-prime market and it is booming. The success of early entrants like Citi Financial and GE Money has encouraged several others to enter the consumer lending business, nearly half of which is a sub-prime market.
If there is a will, there is a way. That is what a tiny non-governmental organisation, which has its office atop a public toilet in a Mumbai suburb, has proved it by winning the 2007 Urban-Age Award. The Triratana Prerana Mandal (TPP) at the Milan shantytown shared the Rs $ 100,000 award with the high-profile Mumbai Waterfronts Development Centre.
India's leading corporate houses like Mahindra & Mahindra, Hindustan Construction Company, HDFC, Deutsche Bank and a few others have joined hands to help re-building work skills for the hearing-impaired, who are otherwise healthy and normal but rema
India-born Anshu Jain, who heads global markets division of German banking giant Deutsche Bank, has been named as the second most influential person in Europe for the third year in a row.
A round-up of Wednesday's action in the UEFA Champions League.
Spend more and earn more seems to be the mantra for credit card companies.
A round-up of Tuesday's action in the UEFA Champions League.
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.
India and China will escape the downturn that other countries in the world are expected to face.
Flag Telecom, a 100 per cent subsidiary of Reliance Communication (RComm), has mandated Goldman Sachs and Deutsche Bank as lead managers for the maiden initial public offering (IPO) on the London Stock Exchange.
Head of Deutsche Equities Keshav Sanghi states that medium-term foreign investors are still positive on India.
Top consulting firms like McKinsey and Co, and Bain and Co along with others in the investment banking industry, such as Goldman Sachs and Deutsche Bank, have extended fulltime offers to students who interned at IIM-A.
While Gupta, 60, can rightfully bask in the glory he has achieved for his bank in the subcontinent, his peers in foreign banks will have to revisit their India play, especially the local incorporation model, says Raghu Mohan.
