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Rupee to track yuan`s slide at open, eyes 82.20/USD The Indian rupee is expected to decline on Wednesday, pressured by the yuan's fall on worries over China's growth outlook. Non-deliverable forwards indicate the rupee will open at 82.08-82.12 to the U.S. dollar, compared with 82.03 on Tuesday. With the yuan "back to losing ways", the rupee will struggle at the open, a forex trader said. "Anyway, (USD/INR) was not managing to slip below 82 and now we have an excuse to take it to the 82.20-82.30 resistance."...
Rupee to track yuan`s slide at open, eyes 82.20/USD
Rupee to track yuan`s slide at open, eyes 82.20/USD
Source: Reuters
19/07/2023 8:50:11 AM
RR Kabel files DRHP with SEBI TPG Capital-backed wires and cables manufacturer RR Kabel has filed draft red herring prospectus (DRHP) with the market regulator Securities and Exchange Board of India (SEBI) to raise funds through an initial public offering (IPO). The IPO comprises a fresh issue of equity shares aggregating up to Rs 225 crore and an offer for sale (OFS) of over 1.72 crore equity shares by promoters and other shareholders. The company proposes to utilise the net proceeds to the tune of Rs 170 crore from f...
RR Kabel files DRHP with SEBI
RR Kabel files DRHP with SEBI
Source: Accord Fintech
9/05/2023 3:43:23 PM
Citigroup expects 'less hard' landing for global economy this year Citigroup economists on Wednesday raised their global growth forecast slightly and see a "less hard" landing but still expect the world's economy to grow at the slowest pace in 40 years. The Wall Street brokerage now sees global growth slowing this year to about 2.2%, 0.25% higher than their previous estimate due to improving macroeconomic trends, it said in a note by economists led by Nathan Sheets. Citigroup said its cautious pessimism is due to China's stronger...
Citigroup expects 'less hard' landing for global economy this year
Citigroup expects 'less hard' landing for global economy this year
Source: Reuters
22/02/2023 2:55:22 PM
Citi cuts India current account deficit forecast to below 3% of GDP Citigroup lowered its projection for India's current account deficit (CAD) to 2.9% of gross domestic product (GDP) for the current fiscal year, citing the growth in the country's service exports and a lower oil price forecast. The brokerage had, in August last year, said it expected India's CAD to be as high as 3.9% of GDP for the fiscal year ending March 2023. "The key surprise came from the phenomenal growth in services exports in the first half of the current fiscal ...
Citi cuts India current account deficit forecast to below 3% of GDP
Citi cuts India current account deficit forecast to below 3% of GDP
Source: Reuters
4/01/2023 4:52:14 PM
Indian healthtech firm Indegene files for IPO, Carlyle to sell stake Indian health technology company Indegene Ltd has filed for an initial public offering, with private equity firm Carlyle looking to offload a part of its stake, draft papers filed with the market regulator showed on Thursday. Local media reported that the Bengaluru-based company was aiming to raise over 32 billion rupees ($386.73 million) through the offering. Reuters could not immediately confirm the figure. The IPO consists a fresh issue of shares worth 9.5 billion rupees and a sale o...
Indian healthtech firm Indegene files for IPO, Carlyle to sell stake
Indian healthtech firm Indegene files for IPO, Carlyle to sell stake
Source: Reuters
16/12/2022 9:30:47 AM
Citi expects global growth to slow below 2% in 2023 Citigroup on Wednesday forecast global growth to slow to below 2% next year, echoing similar projections by major financial institutions such as Goldman Sachs, Barclays, and J.P. Morgan. Strategists at the brokerage cited continued challenges from the COVID-19 pandemic and the Russia-Ukraine war — which skyrocketed inflation to decades-high levels and triggered aggressive policy tightening — as reasons behind the outlook. "We see global performance as likely (being) pla...
Citi expects global growth to slow below 2% in 2023
Citi expects global growth to slow below 2% in 2023
Source: Reuters
30/11/2022 2:57:29 PM
Citi expects revenue from India corporate business to grow 10% a year  Citigroup expects annual growth in its corporate banking business in India to accelerate to 10% in the next few years as it focuses on its institutional business after recently selling its consumer banking business, a top executive said. "Conservatively, we expect India corporate banking business revenue to grow at around 10% (a year) in dollar terms in (the) next three-four years, which translates to 16-17% in rupee terms considering the depreciation," K Balasubramanian, h...
Citi expects revenue from India corporate business to grow 10% a year
Citi expects revenue from India corporate business to grow 10% a year
Source: Reuters
21/07/2022 5:20:57 PM
Error by Citigroup trader caused 'flash crash' in Europe markets US banking giant Citigroup has said that one of its traders made an error in the so-called stock market "flash crash" in Europe, the media reported. A flash crash is an extremely fast fall in the price of one or more assets, often caused by a trading mistake, the BBC said. Trading was briefly halted in several markets after major share indexes plunged on Monday. Nordic stocks were hit the hardest, while other European indexes also plummeted for a short time. "This m...
Error by Citigroup trader caused 'flash crash' in Europe markets
Error by Citigroup trader caused 'flash crash' in Europe markets
Source: IANS
3/05/2022 12:10:18 PM
Axis Bank shines on planning to acquire Citigroup's retail banking business in India Axis Bank is currently trading at Rs. 755.10, up by 17.55 points or 2.38% from its previous closing of Rs. 737.55 on the BSE. The scrip opened at Rs. 744.40 and has touched a high and low of Rs. 765.80 and Rs. 741.20 respectively. So far 257996 shares were traded on the counter. The BSE group 'A' stock of face value Rs. 2 has touched a 52 week high of Rs. 866.60 on 25-Oct-2021 and a 52 week low of Rs. 626.40 on 12-Apr-2021. Last one week high and low of the scrip stood at Rs....
Axis Bank shines on planning to acquire Citigroup's retail banking business in India
Axis Bank shines on planning to acquire Citigroup's retail banking business in India
Source: Accord Fintech
30/03/2022 3:15:55 PM
Citigroup to exit consumer banking ops in India, 12 other countries In a global restructuring to allocate resources in markets with scale, Citigroup will exit consumer banking operations in India as well as 12 other countries. The multinational investment bank headquartered in New York on Thursday announced strategic actions in the global consumer banking segment as part of an ongoing strategic review, which will allow Citi to direct investments and resources to the businesses where it has greatest scale and growth potential. The announcement was made a...
Citigroup to exit consumer banking ops in India, 12 other countries
Citigroup to exit consumer banking ops in India, 12 other countries
Source: IANS
16/04/2021 10:19:59 AM
Citigroup profit triples, Exits some overseas consumer units like India, China and Australia By David Henry (Reuters) - Citigroup Inc trounced analysts' first-quarter profit estimates on Thursday as its outlook for an economic recovery driven by vaccinations and government stimulus allowed it to release reserves set aside for loan losses from the pandemic. Like JPMorgan Chase & Co, which reported earnings on Wednesday, Citi benefited from a boom in capital markets activity, but its consumer bank felt the impact of low interest rates that hurt earnings. Revenue fell 7...
Citigroup profit triples, Exits some overseas consumer units like India, China and Australia
Citigroup profit triples, Exits some overseas consumer units like India, China and Australia
Source: (Reuters) 
15/04/2021 6:57:02 PM