UB Group Chairman Vijay Mallya’s grip on United Breweries slipped further on Thursday, after lenders to UB Group companies offloaded a part of the stake in Kingfisher beer that was pledged to them. The stake offloaded, a little less than a per cent, was acquired by Dutch brewer Heineken for about Rs 18 crore (Rs 180 million). With this, Heineken’s stake in Kingfisher rose to about 40 per cent. Mallya’s stake in United Breweries is now 31.9 per cent. According to ... Rediff.com, 1 month ago
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The Indian economy stands at the cusp of a recovery and is on its way to a 7 per cent growth rate and 6 per cent inflation, says a Citigroup research report. According to the global financial services major, there is a strong new political will coupled with a credible and active central bank and ‘this mix is steadily changing India's dynamics’. "While there can be plenty of debate on pace and timing, India is on its way back to 7 per cent growth and 6 per cent inflation," the ...Rediff.com, 1 month ago
HONG KONG: Citigroup plans to hire as many as 100 bankers in a renewed push into Asia-Pacific commercial banking, following in rival HSBC’s footsteps with a strategy that focuses on selling smaller corporate clients a wider range of products. Global ...Himalayan times, 1 month ago
Citigroup in soup NEW YORK: Citigroup Inc has about $280 million in loans tied to commodities in two Chinese ports which are at the centre of a probe into possible fraud, a senior executive said on Friday, becoming the first US bank to disclose its potential ...Himalayan times, 2 months ago
New Delhi : In a power-packed business meeting schedule in the US, Prime Minister Narendra Modi will hold talks with over 15 top American corporate honchos, including top executives of Google, Boeing and General Electric, as India looks to attract more ...IndiaTV News, 5 hours ago
The Union Cabinet on Wednesday cleared a dilution of the government's stake in Oil and Natural Gas Corporation (ONGC), Coal India Ltd (CIL) and NHPC Ltd. At current market valuations, the amount of its holdings the Centre wants to offload in these companies could fetch it as much as Rs 45,796 crore (Rs 457.96 billion) - more than the Budget target of raising Rs 39,925 crore (Rs 399.25 billion) through disinvestment in public-sector undertakings. However, the actual proceeds for the ...Rediff.com, 1 week ago
Apple will offer three different versions of its smartwatch-- sport, standard, and a luxury edition, with finishes including stainless steel and gold plated. Apple Inc's newly unveiled smartwatch on Tuesday split fashion arbiters who may prove pivotal to its broad acceptance. Many praised the "Apple Watch", priced from $349 when it debuts next year, for its clean aesthetic, but some bloggers and editors said the watch had a masculine aura, which would limit its allure to parts of ...Rediff.com, 1 week ago
Also says PSU banks divestment to be considered after improvement in governance Inflation in India as measured by the Consumer Price Index (CPI) is off its peak rate of rise but still high due to supply-side rigidities, Citigroup quoted Reserve Bank governor Raghuram Rajan saying so during an investor summit in Boston, USA, on Thursday.“Food inflation is a source of discomfort and given the sub-par monsoon this year, there is a need to keep an eye on it,” it quoted Rajan.The RBI ...Rediff.com, 2 weeks ago
Markets succumbed to selling pressure in late trades, amid huge volumes, with financial shares leading the decline following the expiry of July derivative contracts. Further, sales by foreign funds also weighed on sentiment. The 30-share Sensex ended 192 points down at 25,895 and the 50-share Nifty closed 70 points lower at 7,721. Volumes were large because of the expiry of July derivative contracts. Total market turnover stood at Rs 6.79 lakh crore, the third highest so far. Foreign investors ...Rediff.com, 1 month ago
Markets recouped from their day's lows in late trades to end at fresh record closing highs on hopes that the Finance Minister Arun Jaitley in his maiden Budget next week would announce reforms to revive economic growth. The 30-share Sensex ended up 138 points at 25,962 and the 50-share Nifty ended up 37 points at 7,752. Meanwhile, both the benchmark indices gained over 3% during the week ended July 4. The Indian rupee came off its highs and was trading nearly unchanged at Rs 59.74 compared to ...Rediff.com, 2 months ago
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