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The rich expand their holdings and increase in number: survey

The number of millionaires in the world jumped 9.2 per cent to 12 million last year, in part because of simultaneous strength in the stock, bond and real estate markets, according to a study of the high-net-worth population.The survey, released Tuesday by RBC Wealth Management and Capgemini Financial Services, tracked high-net-worth people, whom it defined as those with more than $1 million that they...

Source : Ndtv | 6 Hour(s) AgoCategory : frontpage

Carl Icahn seeks to allay fears over lack of financing for Dell bid

Billionaire investor Carl Icahn told Dell Inc shareholders that an investment bank would help fund his offer for the PC maker as he sought to assuage concerns over his means to fund the bid.In an open letter to Dell shareholders published on Tuesday, Mr Icahn said a major investment bank had indicated its willingness to make $1.6 billion available.The letter also said he was "proceeding to obtain ...

Source : Ndtv | 7 Hour(s) AgoCategory : frontpage

US groups form alliance to push for Indian trade reforms

: A coalition of US business groups on Tuesday demanded President Barack Obama's administration increase pressure on India to change trade policies that they said threaten US exports, jobs and innovation.The move comes as US Secretary of State John Kerry is headed to India next week for the fourth annual US-India Strategic Dialogue."Today we are calling on the Obama administration to raise concerns...

Source : Ndtv | 7 Hour(s) AgoCategory : frontpage | City : Washington

Reserve Bank says need to up exports to deal with high current account deficit

With efficacy of recent steps by New Delhi to curb gold import yet to be tested, the Reserve Bank of India (RBI) said on Tuesday that the country would have to increase exports to deal with its high current account deficit."Recently, import duty on gold has been raised and bank finance against pledge of gold has been restricted. The efficacy of these measures, however, is yet to be tested," RBI executive...

Source : Ndtv | 7 Hour(s) AgoCategory : frontpage

World stocks firm, dollar slips against euro as markets await Fed

equities pushed higher on Tuesday as investors grew more confident that the Federal Reserve would temper its recent statements on the future reduction of US monetary support, while still pointing to economic improvement.The dollar was down 0.2 per cent against a basket of currencies, while the euro rose 0.3 per cent to $1.3406, boosted by improved German investor sentiment.The Federal Reserve meeting,...

Source : Ndtv | 8 Hour(s) AgoCategory : frontpage | City : New York

Deutsche Securities buys over Rs 4 crore Mahindra Forgings shares

Foreign fund house Deutsche Securities Mauritius on Tuesday picked up nearly 6 lakh shares of Mahindra Forgings for Rs 4.11 crore through open market transactions.A total of 5,96,784 shares of Mahindra Forgings were purchased by Deutsche Securities, as per the bulk deal information available with stock exchanges.The shares were bought at an average price of Rs 68.88 apiece, valuing the transaction...

Source : Ndtv | 8 Hour(s) AgoCategory : frontpage | City : Mumbai

IDFC to seek licence from Reserve Bank for setting up bank

Infrastructure financing company IDFC said on Tuesday that its board has approved a proposal to seek licence from the Reserve Bank of India (RBI) for setting up a bank.The board of the company at its meeting held on Tuesday has approved a resolution for making an application to the RBl for obtaining a banking licence, IDFC said in a filing on the BSE.The licence would be sought based on the guidelines...

Source : Ndtv | 8 Hour(s) AgoCategory : frontpage | City : New Delhi

Wall Street rises before Fed meeting to consider stimulus

Wall Street rose on Tuesday, led by growth-oriented sectors, as Federal Reserve policymakers gathered for a two-day meeting to discuss the future of the Fed's bond-buying to stimulate the economy.With the Fed expected to maintain the current level of purchases, shares of industrial, technology and consumer discretionary companies rallied. General Electric gained 1 per cent to $24.02 and was the second...

Source : Ndtv | 8 Hour(s) AgoCategory : frontpage | City : New York

Reliance Industries surpasses ONGC to become second most valued company

Reliance Industries Ltd on Tuesday toppled state-run oil major ONGC to become the country's second most valued firm after TCS.Shares in ONGC, on Tuesday, fell by 1.47 per cent, bringing its market valuation down to Rs 2,63,466 crore, which was lower than RIL's m-cap of Rs 2,66,548 crore at close.ITC with Rs 2,60,879 crore m-cap is the fourth most valued company followed by Coal India (Rs 1,91,449 ...

Source : Ndtv | 9 Hour(s) AgoCategory : frontpage | City : Mumbai

ICICI Bank raises $106 million through bond sale

Top private lender ICICI Bank on Tuesday raised 650 million Chinese yuan (about $106 million) in an offshore Chinese debt market offering, merchant bankers associated with the bond sale said.The bank raised the money by selling REG S bonds with a three-year tenor and got a final pricing of 4 per cent, Jujhar Singh, managing director and head of debt capital markets at Standard Chartered Bank South...

Source : Ndtv | 9 Hour(s) AgoCategory : frontpage | City : Mumbai