It has been nearly four months since Sidharth Punshi, 34, former executive director at Goldman Sachs, joined Jefferies International, a global investment bank and institutional securities firm, as the managing director and country head for India. In a recent interview, Punshi told Business Standard that despite the tight liquidity scenario and a challenging global situation, Indian companies continue to chase merger and acquisition deals abroad.
Rishi Sunak on Monday is all set to make history on Diwali as Britain's first Indian-origin prime minister after being elected unopposed as the new leader of the governing Conservative Party, following Penny Mordaunt's withdrawal from the race.
With the former prime minister stepping aside on Sunday night saying it was "simply not the right time" for his comeback, the prospect of a Diwali victory for Sunak cannot be ruled out.
Piramal Realty received equity funding from Warburg Pincus and Goldman Sachs in July.
The funding marks the first investment in the Indian food delivery category by SoftBank Vision Fund 2, with participation from the company's long-term investor, Prosus, and other existing investors Accel Partners and Wellington Management, Swiggy said in a statement. In addition, new investors Qatar Investment Authority, Falcon Edge Capital, Amansa Capital, Goldman Sachs, Think Investments and Carmignac participated in the round, it stated. This latest fundraise was heavily oversubscribed following strong interest from investors, and comes on the back of Swiggy's rapid recovery from the impacts of COVID-19 and subsequent growth in 2020-21, Swiggy said.
India's fiscal deficit is projected to more than double to 6 per cent of GDP this fiscal against the budgetary target of 2.5 per cent. For the next fiscal, the deficit is estimated to be 5.5 per cent of GDP.
The Indian Institute of Management-Bangalore invites corporates, entrepreneurs, professionals, MBA students and undergraduate students to attend its annual festival VISTA 2006.
Speculators do play a role in creating liquid markets. Other players like hedgers, arbitrageurs and long-term investors are not enough to create continuous market liquidity and prices.
What must be worrying the mandarins in the North Block is that the reply of the finance ministry completely contradicts the decision of the SAT in the Goldman Sachs case. Surely we are in for interesting political times.
India's scandal-hit Satyam Computer Services is to invite formal bids from potential suitors this week, pushing ahead with a possible sale - even though it could be months before its accounts are restated.
Goldman Sachs could end up paying $1 billion (670 million pounds) fine if it wants to settle the criminal lawsuit with the US regulator Securities and Exchange Commission, according to a media report.
Gupta, 65, reported to the minimum security satellite camp at FMC Devens in Ayer, Massachusetts on June 17.
Any assessment of Goldman Sachs' alleged "fraud" is likely to run into two problems. First, the armada of jargon that surrounds the financial derivatives market could mean that the essence of the case is lost in translation, leaving the non-specialist bewildered as to the exact nature of the Wall Street giant's alleged perfidy.
The Nifty ended at 5,204- down 59 points. Through the day the index touched a high of 5,279 and a low of 5,161, respectively. The BSE market breadth was negative. Out of 3,021 stocks traded, 1,950 declined while 953 advanced.
Major American banks, including Citigroup and Goldman Sachs, temporarily lowered their debt in the past five quarters before reporting it to the public in order to mask risk levels, says a media report.
Goldman Sachs and American Express played a large role in boosting the US Treasury's coffers by agreeing to pay a favourable price for the warrants received in return for the aid, the Financial Times said citing a study by the consultancy SNL Financial.
IIM Lucknow has concluded its 2020-21 final placements.
The Indian rupee is likely to appreciate to 46 a dollar in the backdrop of a stable government at the centre and relatively resilient domestic demand, says a report by global financial services giant Goldman Sachs.
The much-awaited results of the stress tests on the nation's 19 largest Bank Holding Companies showed that 10 of them need more capital to the tune of $75 billion while the remaining including Goldman Sachs and American Express are well-capitalised. The stress tests were aimed at determining capital buffers sufficient for the 19 entities to withstand losses and sustain lending -- even if the economic downturn is more severe than is currently anticipated.
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.
The financial services major posted a profit of $1.6 billion in the first quarter of this year against a whopping loss of $5.11 billion in the same period last year.
It's one Forbes list where none would want to figure, but Ramalinga Raju, founder-chairman Satyam Computers (now Mahindra Satyam), has managed the feat of being among the world's 10 most outrageous CEOs.
"The situation is bad. Some people are leaving and some are being asked to leave. And more important, several positions are remaining vacant. The selected candidates for these posts are not coming," said an associate, as the employees are called. "There is talk now that the new company, whichever that is, will cut at least 10,000 jobs gradually. We are praying that this is unfounded," a senior associate said.
The Reserve Bank of India will have little space to finance the government beyond fiscal 2009-10, global financial services firm Goldman Sachs said in a report that scrutinised the RBI's balance sheet.
Goldman Sachs will receive $1 billion, while US taxpayers will lose $2.3 billion if embattled commercial lender CIT files for bankruptcy protection.
The groups plan to take on well-entrenched players like Amazon, Flipkart, and Paytm by merging their offline businesses with e-commerce initiatives.
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The ruling by the Supreme Court was made in a parallel civil insider trading case brought against Gupta by federal regulator Securities and Exchange Commission.
A sharp erosion in his wealth and a long-running sibling rivalry notwithstanding, Indian billionaire Anil Ambani has retained his position in the list of the world's 100 most powerful people, but is down 30 places since last year, while his brother Mukesh has made a total exit.
In its Global Economics Paper, Goldman Sachs Economic Research has outlined ten crucial steps that India must take to achieve its full potential.
After one of the most disastrous weeks in the history of Wall Street, Warren Buffett decided to invest $5 billion there.
With tightening in liquidity condition and expected decline in the inflation by early 2009, there is only a remote possibility of further hike in interest rate by the Reserve Bank, the US-based investment banker Goldman Sachs said in a report. Further, given the current global environment of tight liquidity and the central banks move last week to ease liquidity conditions, any further cash reserve ratio hike is firmly ruled out, it said.
Gupta's two-year prison term is set to end in March 2016.
The Securities and Exchange Board of India has approved The Walt Disney Company's deal to increase stake in Ronnie Screwvala-promoted UTV Software Communications beyond 15 per cent, six months after the deal was initially signed. Sebi, the market regulator, has also okayed the US-based company to launch an open offer.
Foreign institutional investors are expecting the Third Front (read the Left) to play a crucial role in the formation of the new government and are worried about the fallout.
The satisfaction of serving the masses is proving to be a bigger lure for some management graduates.
Hyderabad-based ICSA (India) is divesting 14 per cent of its stake to Citigroup Venture Capital International Growth Partnership Mauritius for $30 million
Foreign institutional investors were the major sellers on the Indian bourses in the last six months, accounting for total outflows of Rs 62,000 crore (Rs 620 billion).
The Centre on Thursday cleared 14 Foreign Direct Investment proposals worth Rs 1,257 crore, including those of Mauritius-based Essar Telecom Holdings Ltd and US-based Goldman Sachs Asset Management. The proposals include induction of foreign equity worth Rs 500 crore by Essar Telecom Holdings and Rs 200 crore from GSAM. The investment proposals were cleared by Finance Minister P Chidambaram on the recommendations of the Foreign Investment Promotion Board.
The time may have come for India to stop thinking of five-year plans, and to focus instead on 10-and 20-year scenarios.
A clutch of foreign and domestic institutions has submitted expressions of interest to acquire at least 26 per cent in the Delhi-based Industrial Finance Corporation of India (IFCI).
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