According to the 2010 Merrill Lynch-Capgemini World Wealth Report, in India, the number of high net worth individuals (HNWIs) with minimum investable assets of $1 million (around Rs 5 crore) rose to 126,700 by the end of 2009 compared to just 84,000 in 2008.
Finance -- the most battered sector by the global meltdown -- is making a strong comeback.
VMIL officials declined to comment on the development. According to sources close to the development, VMIL will sell stake to raise money for expanding Hungama, the content and mobile services arm. The Mumbai-based company has already held two to three rounds of meetings with these private equity investors. The company's valuation has been pegged at Rs 800 crore (Rs 8 billion). The funds raised would be used for Hungama's expansion.
This is the second largest decline in the world. In 2007, India had posted 22.7 per cent growth, the fastest in that year.
The Treasury has already pledged the first-half of the mega $700-billion bailout package. On Thursday, the Senate passed the request by President George Bush to release the second-half of the rescue plan. The request was made by Bush on behalf of President-elect Barack Obama.
Reform will be a priority with the new Congress. But where to start?
India's population of high net worth individuals shrunk 31.6 per cent in 2008, reversing a seven-year rising trend, a DSP Merrill Lynch and Capgemini report said on Thursday.
With hopes of economic recovery gaining momentum, the wealth of high net-worth individuals across the world are likely to touch a whopping $48.5 trillion by the year 2013, a survey says.
Irrespective of demonetisation and GST blues, IIM Lucknow has been able to successfully place their batch of 459 students.
Inflation is likely to peak at 8.7 per cent by end-March and the Reserve Bank is likely to begin tightening its monetary policy from its January policy review itself, a report by Bank of America Merrill Lynch (BofAML) has said.
After one of the most disastrous weeks in the history of Wall Street, Warren Buffett decided to invest $5 billion there.
In the mid-quarter review on December 18, the Reserve Bank left key policy rates unchanged but said it will hike interest rates if inflation does not subside.
With America's fourth largest investment bank Lehman Brothers filing for bankruptcy protection and Merrill Lynch being bought over by the Bank of America, placements at the Indian Institutes of Management will be affected.
His advice was to always start with small positions because we are bound to make mistakes; and remain humble because the markets can be merciless, remembers Debashis Basu.
He may go through bankruptcies, but he couldn't be a savvier self-marketer.
The battered entity had received taxpayers money to the tune of $25 billion in October 2008 and another $20 billion during the time of Bank of America's takeover by Merrill Lynch earlier this year.
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).
Beleaguered investment bank Merrill Lynch has paid more than $10 million in cash and stock to its eleven top executives last year, says a media report.
S Nagnath, President and CIO of DSP Merrill Lynch Mutual Fund in an extensive interview talks about his fund's investment strategy, his team of fund managers and why some of his company's funds have a huge portfolio of 50 to 60 stocks.
Indiabulls is also into mutual fund and insurance advisory businesses. Though this field is extremely competitive and requires significant research skills, these are highly profitable business segments.
A major top management level churn is on in the country's financial services space, with the Aditya Birla group emerging among the biggest beneficiaries of this shake-out as it has attracted a large number of executives from other companies.
Indian telecom operators are world-leaders in terms of profitability, enjoying better EBIDTA margin than their counterparts in developed countries.
Earlier, in September the Federal Reserve had given a formal approval to the Bank of America for acquiring troubled financial services firm Merrill Lynch. The US banking giant further said, "The reductions are designed to eliminate redundancies created as a result of the merger with Merrill Lynch and to reflect the current recessionary environment."
The top executives at Merrill Lynch and Morgan Stanley, led by their chief executives John Thain and John Mack, will not receive bonuses this year amid growing pressure on Wall Street leaders to share the pain of the financial crisis.
Merrill Lynch warned that oil prices could fall as low as $25 a barrel next year if the recession affecting the US, Europe and Japan extended to China, the main driver of demand growth in commodity markets in recent years.
Equity stake, flexible terms attract talent from Wall Street firms to local peers.
Fears of an economic slowdown in the US, and a consequent spread of the crisis to Europe and other parts of the world, resulted in oil prices falling over 12 per cent since Monday, the largest weekly fall since early 2004.
Bank of America Securities-Merrill Lynch raised its growth forecast to 6.3 per cent from 5.3 per cent for the current fiscal. BAS-ML has also revised the country's growth projection to 7.3 per cent for the next fiscal from 7.1 per cent earlier.
Will a US recession tip the entire metals complex, including Gold Prices, sharply lower in 2008...? Add the falling dollar to rosy growth forecasts from China and what do you get? If you guessed higher commodity prices, you get a gold star. Yet among the big investment institutions, there's mixed opinion about what metals prices will do in 2008.
Unfortunately, there is no tried and true formula that transcends industries and business cycles. Tackle the problem in logical steps.
Suzlon Energy, one of the top five wind energy manufacturers in the world, plans to raise $500 million (Rs 2,000 crore) through the Qualified Institutional Placement (QIP) route to fund its expansion plans.
"We will complete the transformation within May 2007 and are talking to select foreign exchanges for a possible partnership," Bombay Stock Exchange Ltd managing director and CEO Rajnikant Patel said.
RIL's December quarter performance is likely to be muted
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.
Even as most of the 50,000-odd employees at Satyam Computer Services remain concerned about job and pay cuts, 250 to 300 employees working on the Merrill Lynch project have accepted an offer from Bank of America (BofA), the bank that bought the sub-prime meltdown-hit investment bank in September last year.
Monsoon session of Parliament expected to be stormy and likelihood of GST Bill and Land Bill getting passed are slim
They fell from some of the most powerful positions on earth.
Who knows when the top chief executives will once again get the fat bonuses they were used to? The last recession provides a hint.
Companies will struggle to maintain and enhance margins
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