The current slowdown has lasted for over 18 months and is the longest incident of sluggishness since 2006.
Goldman says the downgrade reflects the more difficult external funding conditions for Asia as markets increasingly anticipate Fed tapering and eventual exit from unconventional monetary policies.
Goldman Sachs, a global investment banker, said India's growth prospects remain strong despite adverse global developments like high commodity prices that have pushed inflation to high levels. The growth in 2008-09 is expected to be slow at 7.8 per cent as against 8.7 per cent in the previous financial year.
Citing expected improvement in macroeconomic situation, Goldman Sachs on Monday upgraded India's rating to 'market weight', indicating bullishness in the short-term.
As part of its focus on developing startups across the world, Goldman Sachs is looking at training and development of around 29 select women entrepreneurs in India.
The general elections in April/May 2024 are expected to add volatility to the Indian markets, keeping investors on their toes.
This makes Berkshire the sixth-largest external investor in the bank
A string of acquisitions this year has pushed India to the top of the Asia's inbound M&A league table.
Securities Exchange Commission, the American market regulator, on Friday charged investment banking major Goldman Sachs with fraud on subprime mortgages, saying that Goldman did not disclose key facts to investors.
The Indian stock market does not present attractive prospects for investors in the near term amid sluggish domestic and global economic growth outlook, according to Goldman Sachs.
"Following preliminary investigations, FSA has decided to commence a formal enforcement investigation into Goldman Sachs International in relation to recent SEC allegations. FSA will be liaising closely with SEC in this review," FSA said in a statement today. No further details were provided.
Goldman Sachs is seeking to avoid a fraud charge as part of its settlement with the United States market regulator SEC, which had charged the investment banking major with defrauding investors by misrepresenting facts, a media report said.
Sonjoy Chatterjee, executive director (ED) of ICICI Bank, has put in his papers and will soon join US-based investment bank Goldman Sachs in India, according to a person familiar with the development.
The new managing directors will assume their enhanced role at the investment banking firm with effect from January 1, 2014.
'The Budget needs to focus more on social welfare schemes.'
But the clear winner between them is yet to emerge.
Kunal Shah is one of five of India-origin to have made the cut in Goldman Sachs in the 2014 class of partners.
Financial services firm Goldman Sachs on Tuesday said the new United Progressive Alliance government is unlikely to pursue 'big-bang' reforms, but piecemeal changes in policies may take place, including hiking of FDI cap in insurance and divestment in public sector units.
Executive is facing probe for allegedly leaking confidential information to former Galleon Group co-founder Raj Rajaratnam.
Global financial services firm Goldman Sachs has said it is not planning to sell its five per cent stake in the National Stock Exchange.
High-end apartments, penthouses, and bungalows boasting amenities like swimming pools, expansive driveways, and premium interiors are becoming highly sought after.
The Wall Street Journal said the move, which is being closely watched, may be followed by other players at Wall Street. After months of internal debate at Goldman, the paper said the seven top executives at the firm, including chief executive officer Lloyd Blankfein, asked the board's compensation committee to grant them no bonuses.
According to the global financial services major, after the BJP's 'historic' election victory on May 16, hope for structural reforms has gone up.
Goldman Sachs on Tuesday reported its first quarterly loss since it became a public company in 1999, after a severe decline in asset values, including real estate, hit the bank's revenues.
May take 10-15% in Phase II of Bengaluru-Mysore road for Rs 500 crore.
Negotiations that continued till 2009 eventually failed and the money could not be recovered.
The move comes nearly a month after it acquired five per cent in the National Stock Exchange.
Goldman's relationship with ICBC was similar to that of other big global financial institutions that purchased stakes in Chinese banks and insurers.
NRI billionaire LN Mittal is among the front runners for a committee being set up to improve ethical behaviour of crisis-ridden Goldman Sachs, says a media report.
Lawyers of embattled Goldman Sachs met with representatives of the US market regulator SEC this week, a move seen as an attempt to settle the lawsuit against the banking major, according to reports.
Goldman Sachs has emerged from the market bust as a trading colossus. New Chief Lloyd Blankfein must fuel growth -- and avoid an unforeseeable blowup.
Global investment and financial services major Goldman Sachs will pump in more direct investment into India, besides expanding operations, Lloyd C Blankfein, president and chief operation officer, Goldman Sachs Group Inc said on Thursday.
Financial service provider Goldman Sachs Group Inc's shareholders have asked the company to cut the size of bonuses to be paid to executives and reward them instead, a media report says.
Goldman brings more than 30 years of experience in financial, operational and business management.
British daily The Financial Times has reported that AIG had lost $2 billion over the deals and the move is a sign that Securities and Exchange Commission action against Goldman Sachs could spark litigation from investors who lost money on mortgage-backed deals.
The Goldman employees currently receive as much as 75 per cent of their annual bonuses in restricted stocks or options.
Blankfein, 57 took the witness stand on Tuesday in Gupta's trial, which began in a Manhattan court on May 21.
Goldman Sachs has bounced back spectacularly from the financial crisis and so far this year it has earmarked $16.71 billion as compensation.
In last few years, a number of global players have exited the Indian mutual fund business.
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