News

200 Indian women entrepreneurs set to raise Rs 850 cr from investors: Goldman Sachs At least 200 women entrepreneurs in India are poised to raise an estimated Rs 850 crore ($100 million) from investors, helping to expand businesses and create new jobs, Goldman Sachs announced on Friday.  According to Union Minister for Commerce and Industry Piyush Goyal, the ‘Goldman Sachs 10,000 Women’ initiative highlights the untapped potential in women. “I am confident that they will continue to break barriers and empower others. They are committed to investi...
200 Indian women entrepreneurs set to raise Rs 850 cr from investors: Goldman Sachs
200 Indian women entrepreneurs set to raise Rs 850 cr from investors: Goldman Sachs
Source: IANS
2024-11-08 11:59:54 am
Dollar slips ahead of US election and as Fed rate cut looms The dollar slipped in Asia on Monday as investors braced for a potential pivot this week for the global economy as the United States chooses a new leader, and as it likely cuts interest rates again with major implications for bond yields. The euro rose 0.4% to $1.0884 but faces resistance around $1.0905, while the dollar fell 0.7% on the yen to 151.81 yen. The dollar index eased 0.1% to 103.79. Treasury futures rallied 10 ticks, recovering some of the losses suffered on Friday. [US/] ...
Dollar slips ahead of US election and as Fed rate cut looms
Dollar slips ahead of US election and as Fed rate cut looms
Source: Reuters
2024-11-04 08:26:57 am
Employment surging in India`s capital-intensive industries: Goldman Sachs  Over the past ten years, capital-intensive sub-sectors such as electronics, chemicals and machinery within India’s manufacturing sector, have seen a major growth in both employment and exports, according to a Goldman Sachs report. The report states that growth has surged in India’s capital-intensive industries with the government focusing on promoting assembly of electronics, machinery, and pharmaceutical products. This has resulted in the successful outcome of exports to...
Employment surging in India`s capital-intensive industries: Goldman Sachs
Employment surging in India`s capital-intensive industries: Goldman Sachs
Source: IANS
2024-11-03 03:07:23 pm
Gold marches to record as US election jitters fuel safe-haven rush Gold hit an all-time peak on Wednesday as investors flocked towards the safe-haven metal less than a week before the U.S. presidential election, while they awaited economic data for clues on the Federal Reserve's rate stance.  Spot gold was up 0.2% at $2,779.39 per ounce as of 0308 GMT, after hitting an all-time high of $2,782.03 earlier in the session. U.S. gold futures rose 0.4% to $2,791.70. "Gold is very much being anchored on the U.S. election outcome ... In the ne...
Gold marches to record as US election jitters fuel safe-haven rush
Gold marches to record as US election jitters fuel safe-haven rush
Source: Reuters
2024-10-30 09:43:51 am
India poised to be among fastest-growing economies till 2030: Goldman Sachs  Driven by strong GDP growth and positive investor sentiment, India is poised to remain among the world's fastest growing economies until 2030, global brokerage Goldman Sachs has said.  The country’s earnings have started to stablise over the past few years, with “mid-teen profit growth momentum that might sustain until 2030,” Goldman Sachs said in a note, , as the country continues to remain resilient amid global uncertainties. According to the global br...
India poised to be among fastest-growing economies till 2030: Goldman Sachs
India poised to be among fastest-growing economies till 2030: Goldman Sachs
Source: IANS
2024-09-25 10:04:53 am
Indian startups raise over $265 million funding in 16 deals this week The funding momentum for the startup ecosystem in the country continued with more than $265 million being raised via 16 deals this week.  The biggest fund-raise came with omnichannel jewellery startup Bluestone securing $107.2 million in its pre-IPO round. In the fintech space, Aye Finance raised $25 million loan from Goldman Sachs (India) and lending startup Axio secured $20 million from Amazon Smbhav Venture Fund to drive growth. The ecommerce sector was the top gainer this week,...
Indian startups raise over $265 million funding in 16 deals this week
Indian startups raise over $265 million funding in 16 deals this week
Source: IANS
2024-08-24 04:11:10 pm
Rupee lifted by gains in Asian peers, oil firms' bids cap upside  The Indian rupee rose in early trade on Friday, boosted by gains in most of its Asian peers ahead of closely watched remarks from Federal Reserve Chair Jerome Powell later in the day. The rupee was at 83.8850 against the U.S. dollar as of 10:10 a.m. IST, higher than its close of 83.9525 in the previous session. Asian currencies were mostly higher on the day, with the offshore Chinese yuan up 0.1% at 7.13, while the Thai baht rose 0.4% to lead gains. The dollar index was down sligh...
Rupee lifted by gains in Asian peers, oil firms' bids cap upside
Rupee lifted by gains in Asian peers, oil firms' bids cap upside
Source: Reuters
2024-08-23 09:08:05 am
Goldman Sachs names India investment banking co-chiefs, Hong Kong coverage head Goldman Sachs has appointed Sudarshan Ramakrishnan and Devarajan Nambakam as co-heads of investment banking in India, the latest Wall Street bank to bolster its leadership amid a rise in dealmaking opportunities in the country. Ramakrishnan and Nambakam, previously the bank's co-chief operating officers in India, now report to India Chairman and Chief Executive Sonjoy Chatterjee, Goldman said in a statement on Monday. They are tasked with managing Goldman's broader investment ba...
Goldman Sachs names India investment banking co-chiefs, Hong Kong coverage head
Goldman Sachs names India investment banking co-chiefs, Hong Kong coverage head
Source: Reuters
2024-07-15 02:52:08 pm
Asia shares muted on mixed China data, euro pressure Asian share markets were mostly softer on Monday as mixed Chinese economic news underlined the country's bumpy recovery, while political uncertainty in Europe soured risk appetites and kept the euro on the defensive. Chinese blue chips were off 0.2% after retail sales topped forecasts by rising 3.7% in May, but industrial output and fixed-asset investment both underwhelmed. Other data showed home prices fell at the fastest pace in a decade in May, highlighting the continued strains ...
Asia shares muted on mixed China data, euro pressure
Asia shares muted on mixed China data, euro pressure
Source: Reuters
2024-06-17 09:04:57 am
Rupee helped by soft US inflation data, hawkish Fed to weigh The Indian rupee will be supported on Thursday by the lower-than-expected U.S. inflation print, while projections that the Federal Reserve will cut rates only once this year are expected to weigh. Non-deliverable forwards indicate the rupee will open at 83.52-83.55 to the U.S. dollar, compared with its previous close at 83.5450. "The relief on the U.S. inflation is not leading to much (for the rupee), which ordinarily means that (the dollar/rupee pair) wants to push higher," a...
Rupee helped by soft US inflation data, hawkish Fed to weigh
Rupee helped by soft US inflation data, hawkish Fed to weigh
Source: Reuters
2024-06-13 10:33:58 am
Oil prices extend rally on potential U.S. crude purchase for reserve Oil prices rose on Tuesday, extending the previous day's rally on hopes of higher seasonal fuel demand and potential U.S. crude purchases for its petroleum reserve, though gains were capped by a firmer dollar. Brent crude futures climbed 28 cents, or 0.3%, to $81.91 per barrel by 0038 GMT and U.S. West Texas Intermediate crude futures rose 31 cents, or 0.4%, to $78.05. Prices climbed about 3% to a one-week high on Monday, buoyed by expectations of rising fuel demand this summer desp...
Oil prices extend rally on potential U.S. crude purchase for reserve
Oil prices extend rally on potential U.S. crude purchase for reserve
Source: Reuters
2024-06-11 09:18:39 am
Asia stocks range-bound as EU politics adds new risks Asian stocks traded in a narrow range on Tuesday, as investors pondered fresh political uncertainty in European markets after right-wing gains in elections and a snap poll in France revived concerns about the cohesion of the bloc. Moves were modest, with MSCI's broadest index of Asia-Pacific shares outside Japan dipping 0.4% in thin trade, with Chinese blue chips off 0.7%. Going the other way, Japan's Nikkei firmed 0.3% and South Korea stocks rose 0.5%. EUROSTOXX 50 futures a...
Asia stocks range-bound as EU politics adds new risks
Asia stocks range-bound as EU politics adds new risks
Source: Reuters
2024-06-11 08:51:24 am
Oil prices slip despite OPEC+ production cut extension Oil prices were little changed on Monday, as investors weighed a move by producer group OPEC+ to extend deep output cuts well into 2025. Brent futures for August delivery were down 4 cents, or 0.05%, to $81.07 a barrel at 0344 GMT, after falling to a session low of $80.55. U.S. West Texas Intermediate (WTI) crude futures for July delivery slipped 1 cent, or 0.01%, to $76.98, after falling to $76.39 earlier. Brent settled down 0.6% and WTI posted a 1% loss last week. The Organization ...
Oil prices slip despite OPEC+ production cut extension
Oil prices slip despite OPEC+ production cut extension
Source: Reuters
2024-06-03 09:46:47 am
India stocks eye records as exit polls point to PM Narendra Modi landslide Indian stock futures jumped early on Monday and the rupee rose as exit polls pointed to a third term and sizable mandate for Prime Minister Narendra Modi, whom investors hope will spend on infrastructure and manufacturing to keep economic growth going. NIFTY 50 index futures were up about 2.7% in early trade and, at 23,350, indicated the index could touch new peaks when the cash market opens. Non-deliverable rupee forwards traded at 83.11 to the dollar, against a close of 83.46 in the spot...
India stocks eye records as exit polls point to PM Narendra Modi landslide
India stocks eye records as exit polls point to PM Narendra Modi landslide
Source: Reuters
2024-06-03 09:23:49 am
Goldman Sachs ups India`s GDP growth forecast Leading global financial firm Goldman Sachs has revised its forecast for India’s GDP growth by 10 basis points to 6.7 per cent as it expects the government’s heavy investments in big-ticket infrastructure projects to continue with the huge dividend coming in from the RBI.  “Going forward, we expect investment growth momentum to sustain with extra fiscal space for infrastructure spending given a higher than expected dividend transfer by the RBI. As a result, we recent...
Goldman Sachs ups India`s GDP growth forecast
Goldman Sachs ups India`s GDP growth forecast
Source: IANS
2024-05-28 09:32:19 am
Oil prices steady as investors await inflation data, OPEC+ meeting Oil prices were steady in early Asian trading on Tuesday as investors awaited inflation data to assess future U.S. monetary policy and the production policy decisions from the OPEC+ meeting on June 2. The Brent crude July contract dropped 3 cents to $83.07 a barrel by 0038 GMT. The more-active August contract slipped 4 cents to $82.85. U.S. West Texas Intermediate (WTI) crude futures for July were at $78.68, up 96 cents, or 1.2%, from Friday's close, having traded through a U.S. hol...
Oil prices steady as investors await inflation data, OPEC+ meeting
Oil prices steady as investors await inflation data, OPEC+ meeting
Source: Reuters
2024-05-28 09:00:18 am
Blinkit now more valuable that Zomato`s core food business Zomato’s quick delivery service, Blinkit, has become more valuable than its core food delivery business, according to a new Goldman Sachs report. While Zomato’s food delivery business is valued at Rs 98 per share, Blinkit’s “implied value” is at Rs 119 per share, or about $13 billion, according to the investment bank’s report. In March last year, Goldman Sachs marked Blinkit’s valuation at $2 billion, reports TechCrunch. The report forecasts ...
Blinkit now more valuable that Zomato`s core food business
Blinkit now more valuable that Zomato`s core food business
Source: IANS
2024-04-26 11:50:45 am
Liquidity from global equity markets fuelling fresh investment in gold There is an emerging view that the rally in gold is being fuelled by the surge in equities. “Record-high gold prices have accompanied record-high equity valuations. The wealth and liquidity effect of higher equities may allow for the purchase of more gold, than would otherwise be the case,” global bank HSBC said in a note. Much of the buying in gold appears to be fresh investment from outside the usual market participants, motivated perhaps by liquidity from the equity marke...
Liquidity from global equity markets fuelling fresh investment in gold
Liquidity from global equity markets fuelling fresh investment in gold
Source: IANS
2024-04-14 02:07:07 pm
Oil tumbles nearly 2% as Middle East tensions ease Oil prices fell more than $1 a barrel on Monday, with Brent sliding under $90, as Middle East tensions eased after Israel withdrew more soldiers from southern Gaza and committed to fresh talks on a potential ceasefire in the six-month conflict. Brent crude futures slipped $1.70, or 1.9%, to $89.47 a barrel by 0053 GMT. U.S. West Texas Intermediate crude was at $85.29 a barrel, down $1.62, or 1.9%. "It appears the catalyst is Israel saying it has withdrawn all troops except one b...
Oil tumbles nearly 2% as Middle East tensions ease
Oil tumbles nearly 2% as Middle East tensions ease
Source: Reuters
2024-04-08 08:46:31 am
Nikkei leads Asia higher as yen skids; commodities in demand Asian shares rallied on Thursday as U.S. rate cuts remained on the menu, even if their timing was unclear, while the yen slid against everything except the dollar and boosted Japanese stocks. There was also action in commodities as gold reached another record, oil a five-month peak and copper a 13-month top, helping lift shares in basic materials and energy companies. Some of these gains were due to supply disruptions and geopolitical tensions, but they also reflect optimism about globa...
Nikkei leads Asia higher as yen skids; commodities in demand
Nikkei leads Asia higher as yen skids; commodities in demand
Source: Reuters
2024-04-04 08:48:27 am
Oil up 1%, US WTI at 5-month closing high, market seen tight Crude prices edged up about 1% on Monday with U.S. futures closing at a five-month high, on expectations that economic growth in the U.S. and China will boost demand, while supplies tighten on OPEC+ output cuts and attacks on Russian refineries. Brent futures for June delivery settled at $87.42 a barrel on Monday, June's first day as the front month. That was up about 42 cents, or 0.5%, from the April 28 settlement price for the June contract. April 29 was the Good Friday holiday. O...
Oil up 1%, US WTI at 5-month closing high, market seen tight
Oil up 1%, US WTI at 5-month closing high, market seen tight
Source: Reuters
2024-04-02 09:06:22 am
Oil holds onto gains as investors bet on tighter supply  Oil prices edged down slightly on Monday, holding on to most of their recent gains amid expectations of tighter supply from OPEC+ cuts, attacks on Russian refineries and upbeat Chinese manufacturing data. Brent crude fell 17 cents, or 0.2%, to $86.83 a barrel by 0017 GMT after rising 2.4% last week. U.S. West Texas Intermediate crude was at $83.06 a barrel, down 11 cents, or 0.1%, following a 3.2% gain last week. Trade volumes are expected to be thin on Monday as several countries...
Oil holds onto gains as investors bet on tighter supply
Oil holds onto gains as investors bet on tighter supply
Source: Reuters
2024-04-01 08:59:25 am
EV sales` momentum slowing globally Electric vehicle sales' momentum is slowing globally, marquee global brokerage Goldman Sachs said. Europe, which has driven EV growth up to now, has shown signs of stagnation since the beginning of 2024. Goldman Sachs cited concerns about three factors -- EV capital costs due to lower prices for used EVs, poor visibility on government policy, and a shortage of rapid-charging stations. Despite the current slowdown in EVs, the base-case scenario still calls for EV sales volume to rise...
EV sales` momentum slowing globally
EV sales` momentum slowing globally
Source: IANS
2024-03-30 08:53:02 am
Rupee to rise following `modestly dovish` Fed policy  The Indian rupee is expected to open higher on Thursday, after the U.S. Federal Reserve maintained their forecast for three interest rate cuts this year, spurring a drop in the dollar and Treasury yields. Non-deliverable forwards indicate the rupee will open at around 83.06-83.08 to the U.S. dollar compared with 83.1575 in the previous session. The local currency is on a four-day losing run that had taken it to the weakest in two months. The rupee "will catch a bit of reli...
Rupee to rise following `modestly dovish` Fed policy
Rupee to rise following `modestly dovish` Fed policy
Source: Reuters
2024-03-21 08:52:25 am
Asia stocks shaky ahead of Fed, yen hits 4-month low Asian shares were hesitant on Wednesday on concerns the Federal Reserve could signal a slower path of rate cuts this year, while the yen plumbed a fresh four-month low on expectations that policy in Japan will remain accommodative for a while longer. Tokyo's Nikkei is closed for a holiday in Japan, but the yen's weakness lifted Nikkei futures by 0.6%, a day after the Bank of Japan ended years of negative interest rates in a well-telegraphed move. MSCI's broadest index of Asi...
Asia stocks shaky ahead of Fed, yen hits 4-month low
Asia stocks shaky ahead of Fed, yen hits 4-month low
Source: Reuters
2024-03-20 08:58:00 am
Yen holds nerve as BOJ decision looms; dollar resurgent The yen dwindled near the 150 per dollar level on Tuesday but held its ground ahead of a pivotal policy decision from the Bank of Japan (BOJ), while the U.S. dollar towered over its peers as bets for early rate cuts there were trimmed. Rate decisions from the BOJ and the Reserve Bank of Australia (RBA) come under the spotlight in the Asia day, and currency moves were subdued early on Tuesday with traders hesitant to take on new positions ahead of the outcomes. The yen was last little ch...
Yen holds nerve as BOJ decision looms; dollar resurgent
Yen holds nerve as BOJ decision looms; dollar resurgent
Source: Reuters
2024-03-19 08:46:51 am
Asia shares slip, yen firm as BOJ ponders positive rates Asian share markets sputtered on Monday while the dollar looked vulnerable ahead of a reading on U.S. inflation that could hasten, or delay, the start of global rate cuts. The yen edged higher as Reuters reported a growing number of Bank of Japan policymakers are warming to the idea of ending negative rates this month on expectations of hefty pay hikes in this year's annual wage negotiations. Data released on Monday showed Japan was not, in fact, in recession after economic growth w...
Asia shares slip, yen firm as BOJ ponders positive rates
Asia shares slip, yen firm as BOJ ponders positive rates
Source: Reuters
2024-03-11 09:02:55 am
Bank deposits losing attractiveness as government savings schemes see strong growth Global brokerage Goldman Sachs has flagged multiple headwinds to deposit growth in Indian banks as it loses its attractiveness. It has cited head winds like strained financial savings, the rise of alternatives such as stock market investments and strong growth in alternate government savings schemes (PPF and Small Savings), size of which has grown to 21 per cent of the total deposits. Interestingly, increase in alternative government savings schemes is equivalent to 34 per cent of the i...
Bank deposits losing attractiveness as government savings schemes see strong growth
Bank deposits losing attractiveness as government savings schemes see strong growth
Source: IANS
2024-02-23 02:57:19 pm
Exclusive-Whirlpool set to sell 24% stake in Indian unit for up to $451 million Appliance maker Whirlpool is selling a 24% stake in its Indian unit this week for up to $451 million via block deals, according to a term sheet seen by Reuters, amid record share offerings on the country's stock market. Whirlpool plans to sell the stake at a price of 1230 rupees per share, a 7.6% discount to Monday's closing price. It aims to complete the deal by Wednesday. Goldman Sachs is advising Whirlpool on the deal, the term sheet showed. Goldman and Whirlpool did not imme...
Exclusive-Whirlpool set to sell 24% stake in Indian unit for up to $451 million
Exclusive-Whirlpool set to sell 24% stake in Indian unit for up to $451 million
Source: Reuters
2024-02-20 09:16:05 am
Emerging market currencies to gain steadily in the near-term Most emerging market currencies will struggle to recoup this year's losses against the dollar in coming months as expectations for aggressive rate cuts from the U.S. Federal Reserve diminish, a Reuters poll of FX strategists found. After ending 2023 on a positive note, the rally in the emerging market currency basket has ran out of steam and was down 1.2% for the year, hurt by higher U.S. Treasury yields. Better than expected U.S. economic data and hawkish comments from Fed policyma...
Emerging market currencies to gain steadily in the near-term
Emerging market currencies to gain steadily in the near-term
Source: Reuters
2024-02-07 02:04:54 pm
Design company InVision, once valued at $2 bn, to wind up by 2024 end Design company InVision, once valued at $2 billion, has announced to wind up operations by the end of 2024. InVision is the visual collaboration platform powering the world’s smartest companies, helping more than 7 million people across global enterprises and small teams transform the way they work together. It had raised more than $350 million from investors including Goldman Sachs and Spark Capital. Michael Shenkman, CEO, InVisionApp, said in a statement that after careful co...
Design company InVision, once valued at $2 bn, to wind up by 2024 end
Design company InVision, once valued at $2 bn, to wind up by 2024 end
Source: IANS
2024-01-06 09:52:34 am
Goldman Sachs cuts India`s CAD forecast for current fiscal to 1% of GDP Goldman Sachs has lowered its projection for India’s current account deficit in 2023-2024 to 1 per cent of GDP from 1.3 per cent earlier as the US bank expects services exports to rise further while crude oil prices are expected to fall going ahead. The Wall Street bank expects oil prices to rule at $81 a barrel in 2024 instead of the above $90 forecast earlier and services exports to remain strong due to US growth remaining resilient. "India’s external balances remain ...
Goldman Sachs cuts India`s CAD forecast for current fiscal to 1% of GDP
Goldman Sachs cuts India`s CAD forecast for current fiscal to 1% of GDP
Source: IANS
2024-01-02 05:45:57 pm
Key issues in return filing discussed at PHDCCI`s 23rd GST seminar The GSTR 9 and GSTR 9C return filing and its importance, legal provisions of the annual return and the problems being faced by the taxpayers while filling GSTR 9 and 9C returns for 2022-23, for which the deadline for filing is 31st December 2023, were among the several issues which were deliberated at the 23rd edition of Knowledge Series on GST organised by PHDCCI here on 27th December at PHD House. Chairman of the Indirect Tax Committee and Partner, AK Batra and Associates, Mr. Ashok Kuma...
Key issues in return filing discussed at PHDCCI`s 23rd GST seminar
Key issues in return filing discussed at PHDCCI`s 23rd GST seminar
Source: PR Agency
2023-12-31 05:06:08 pm
Goldman Sachs upgrades India stocks, cuts rating on China`s Goldman Sachs has upgraded its outlook on Indian equities, citing the stock market’s strategic appeal that is driven by the large domestic market of the fast-growing economy amid a global slowdown. According to the latest Goldman Sachs assessment of Asian markets, India is anticipated to offer the "most promising long-term growth opportunities in the region, with the potential for mid-teens earnings growth in the coming years”. Goldman Sachs sees the "largely domes...
Goldman Sachs upgrades India stocks, cuts rating on China`s
Goldman Sachs upgrades India stocks, cuts rating on China`s
Source: IANS
2023-11-13 02:27:20 pm
WeWork reportedly preparing to file for bankruptcy, stock plunges further Leading flexible workspace provider WeWork, once valued at $47 billion, is reportedly filing for bankruptcy as early as next week, a move that is likely to hit the co-working real estate market. According to a Wall Street Journal report, citing sources, the flexible-office-space provider is now preparing for chapter 11 protection in the state of New Jersey. The WSJ report said that WeWork, after defaulting on interest payments on October 2, is considering filing for bankruptcy. A com...
WeWork reportedly preparing to file for bankruptcy, stock plunges further
WeWork reportedly preparing to file for bankruptcy, stock plunges further
Source: IANS
2023-11-01 10:17:57 am
KKR-backed Avendus to tap tech investment banking deals in Southeast Asia Indian financial services firm Avendus will start offering investment banking services from Singapore to cash in on an expected technology sector dealmaking boom in the Southeast Asia region.Majority owned by U.S. private equity giant KKR, Avendus is best known in India for advising large startups such as SoftBank-backed food delivery firm Swiggy and eyewear retailer Lenskart on their fund raising.Karan Sharma, a managing director for Avendus in India said the operations from Singapore will f...
KKR-backed Avendus to tap tech investment banking deals in Southeast Asia
KKR-backed Avendus to tap tech investment banking deals in Southeast Asia
Source: Reuters
2023-10-18 11:07:14 am
Asia stocks rise on earnings hopes; keep wary eye on Mideast tensions Asian stocks rose in cautious trade on Tuesday, with investors choosing to focus on corporate earnings prospects and the resilience of the U.S. economy ahead of tensions in the Middle East.MSCI's broadest index of Asia-Pacific shares outside Japan advanced 0.4%. Tokyo's Nikkei rose 1%.Overnight the S&P 500 had climbed 1%, while oil prices and the U.S. dollar had fallen.A host of "favorable" signs from the strength of the U.S. consumer, economic growth, and interest rates supporting bank p...
Asia stocks rise on earnings hopes; keep wary eye on Mideast tensions
Asia stocks rise on earnings hopes; keep wary eye on Mideast tensions
Source: Reuters
2023-10-17 09:14:54 am