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UBS in talks on Indian minority-owned wealth joint venture, say sources UBS is in talks to form an Indian wealth management joint venture with Mumbai-based 360 One WAM, two sources with direct knowledge of the matter told Reuters. The joint venture would help the Swiss bank to expand its Indian wealth business to 'high net worth individuals' from its existing focus on 'ultra high net worth individuals', they said. India's wealth management sector is being driven by rapid economic growth and a domestic market rally. It was worth $429.1 bi...
UBS in talks on Indian minority-owned wealth joint venture, say sources
UBS in talks on Indian minority-owned wealth joint venture, say sources
Source: Reuters
2024-09-27 04:45:20 pm
Gold prices head for best week in 4 months, US jobs data eyed Gold prices were poised for their biggest weekly jump in four months on Friday, supported by safe-haven demand and expectations that the U.S. Federal Reserve would start cutting interest rates in September as markets await key jobs report for further cues. Spot gold was up 0.7% at $2,463.45 per ounce, as of 0915 GMT, just $22 shy of the record peak of $2,483.60 scaled on July 17. Bullion is on track for its biggest weekly gain since April 5. U.S. gold futures climbed 1.1% to $2,507.80. ...
Gold prices head for best week in 4 months, US jobs data eyed
Gold prices head for best week in 4 months, US jobs data eyed
Source: Reuters
2024-08-02 03:16:42 pm
India`s Paytm jumps 5% as digital payments app survives banking unit shutdown Shares of India's Paytm rose a stock exchange-allowed maximum of 5% on Friday, a day after it got a third-party application provider license that will allow it to offer digital payments after its banking unit ceases operations. The license, granted by the country's payments authority, came as Paytm Payments Bank will cease to operate on March 15, following regulatory action due to non-compliance with certain norms. Paytm's shares were up 5% at 370.70 rupees early in the sess...
India`s Paytm jumps 5% as digital payments app survives banking unit shutdown
India`s Paytm jumps 5% as digital payments app survives banking unit shutdown
Source: Reuters
2024-03-15 12:00:02 pm
Indian economy continues to show resilience to external risks: UBS The Indian economy has been in a sweet spot lately, with manageable macro risks, global brokerage, UBS said. “We forecast another year of strong growth for India, at 7 per cent in FY25,” it said. Historically, periods of high growth in India have been associated with widening current account deficit (CAD). In recent years, CAD has not breached this sustainable range due to additional buffers created in the form of a higher services trade surplus and buoyant remittance flo...
Indian economy continues to show resilience to external risks: UBS
Indian economy continues to show resilience to external risks: UBS
Source: IANS
2024-03-12 04:18:45 pm
Factbox-Key details of India`s pact with four-nation European trade bloc India signed a free trade pact on Sunday with a group of European nations - Switzerland, Norway, Iceland and Liechtenstein - committing to reduce tariffs, while New Delhi receives $100 billion in investments over the next 15 years. India and the members of the European Free Trade Association (EFTA) held 21 rounds of talks over 16 years to clinch the broad-based Trade and Investment Agreement. Here are key facts about the trade pact: BOOST TO TRADE, INVESTMENT: India expects that t...
Factbox-Key details of India`s pact with four-nation European trade bloc
Factbox-Key details of India`s pact with four-nation European trade bloc
Source: Reuters
2024-03-10 03:02:14 pm
India offers best structural growth story among large economies: UBS India offers the best structural growth story among the large economies, global brokerage UBS said. “Combined with political stability and supportive government policies, India remains in a favourable position and is the most preferred in our Asia ex-Japan asset class preferences among equities," UBS said. India’s GDP growth has been surprisingly positive, averaging above 8 per cent in the first three quarters of FY2024, UBS said. “We expect this momentum to co...
India offers best structural growth story among large economies: UBS
India offers best structural growth story among large economies: UBS
Source: IANS
2024-03-09 09:27:53 am
TCS likely to lead its peers in revenue growth: UBS TCS is likely to lead its peers in revenue growth by 100-150 bp along with improvement in margins in FY25, foreign brokerage UBS said in a report. “We believe the market is not pricing this in, given a divided consensus and the stock remaining at the lower end of its long-term trading premium vs peers," UBS said as it upgraded TCS. “We see enough drivers to believe TCS can deliver industry-leading growth and margins among peers in FY25," UBS said. These include ...
TCS likely to lead its peers in revenue growth: UBS
TCS likely to lead its peers in revenue growth: UBS
Source: IANS
2024-02-27 05:33:37 pm
UBS deepens cost-cutting drive launched after its acquisition of rival Credit Suisse  Swiss lender UBS has deepened a cost-cutting drive launched after its emergency acquisition of rival Credit Suisse, as it slashes thousands of jobs and tries to boost earnings to make sure the mammoth deal pays off, a media report said. UBS said on Tuesday that it is now targeting $13 billion in savings by the end of 2026 -- $3 billion more than what it had announced six months ago, CNN reported. The savings will provide “necessary capacity for reinvestment to reinforce the ...
UBS deepens cost-cutting drive launched after its acquisition of rival Credit Suisse
UBS deepens cost-cutting drive launched after its acquisition of rival Credit Suisse
Source: IANS
2024-02-07 09:16:28 am
Gold prices drop as US rate-cut hopes fade Gold prices declined on Monday, as hopes of a March interest rate cut by the Federal Reserve faded, while traders awaited key U.S. economic data and major central bank policy meetings this week. Spot gold was down 0.4% at $2,021.39 per ounce, as of 0955 GMT. U.S. gold futures fell 0.3% to $2,023.20. "At the moment, we have this asymmetry between what central banks are saying and what the market was pricing," said Carlo Alberto De Casa, market analyst at Kinesis Money. "...
Gold prices drop as US rate-cut hopes fade
Gold prices drop as US rate-cut hopes fade
Source: Reuters
2024-01-22 08:56:48 am
`Mounting national debt at $34 trillion a boiling frog situation for US economy` The US government's growing national debt at $34 trillion debt is a "boiling frog" for the US economy, as government expenditure bills will exceed its revenues by the early 2030s, according to a Congressional Budget Office estimate. Sounding this alarm, JP Morgan, said: "But the US doesn't look likely to cut back its discretionary spending anytime soon." The US' $34 trillion debt mountain might be a "boiling frog" phenomenon for the economy, as ...
`Mounting national debt at $34 trillion a boiling frog situation for US economy`
`Mounting national debt at $34 trillion a boiling frog situation for US economy`
Source: IANS
2024-01-08 09:24:39 am
Marketmind: Ominous signal - Wall St slides despite yield slump A look at the day ahead in Asian markets from Jamie McGeever, financial markets columnist. Asian markets look to round off a difficult week with a flourish on Friday, but ominous signals from U.S. trading on Thursday - stocks closed in the red again despite a steep decline in bond yields - do not auger well. The conditions for a sharp rebound on Wall Street were in place - third quarter U.S. GDP beat forecasts, and the 'soft landing' narrative was bolstered by some signs of cool...
Marketmind: Ominous signal - Wall St slides despite yield slump
Marketmind: Ominous signal - Wall St slides despite yield slump
Source: Reuters
2023-10-27 12:25:41 pm
Risk of Indian banks` unsecured retail loans turning sour is rising, UBS says The risk of Indian banks' unsecured retail loans turning sour is rising as lending to borrowers with overdue debt has increased, UBS said in a note.In recent months, lenders in Asia's third-largest economy have boosted their unsecured lending portfolios as the pandemic-induced stress on household finances has eased.Last week, the country's central bank said it is closely monitoring the segment for signs of nascent stress.UBS has turned "neutral" on the banking sector and sees a higher probabi...
Risk of Indian banks` unsecured retail loans turning sour is rising, UBS says
Risk of Indian banks` unsecured retail loans turning sour is rising, UBS says
Source: Reuters
2023-10-13 05:18:15 pm