Wealth Management

Crypto-rich investors snap up virtual real estate

Facts       Apr 19, 2021

  LONDON: What do you do with a US$69 million artwork that doesn't physically exist? That's the question faced by the Singapore-based investor calling himself Metakovan, who made headlines last month when he bought the digital artwork Everydays: The First 5000 Days by the American artist...

Gold imports up by 22.58% to $34.6 billion in 2020-21, CAD takes a beating

Indian News       Apr 18, 2021

  New Delhi: Gold imports, which have a bearing on the country's current account deficit (CAD), rose by 22.58 per cent to USD 34.6 billion (about Rs 2.54 lakh crore) during 2020-21 due to increased domestic demand, according to the Commerce Ministry data. Silver imports during...

World stocks at record high, oil up on strong China, United States data

International News       Apr 16, 2021

Global stocks hit a record high on Friday and oil climbed after strong U.S. and Chinese economic data bolstered expectations of a solid global recovery from the coronavirus-induced slump. Government stimulus, a string of strong corporate earnings releases and the signs of economic recovery in...

Citi to exit consumer banking biz in India; to focus on institutional segment

Indian News       Apr 15, 2021

Mumbai: American banking major Citibank on Thursday announced exiting the high visibility consumer banking business in India as part of a global strategy. The consumer banking business comprises credit cards, retail banking, home loans and wealth management. The bank will be exiting the segment in...

Mutual fund assets soar 41% to Rs 31.43 lakh cr in FY'21

Indian News       Apr 09, 2021

  Mumbai: Assets under management with the mutual fund industry jumped a whopping 41 per cent in fiscal 2021 to Rs 31.43 lakh crore, despite a minor 1 per cent decline in March, says a report. The 1 per cent decline in assets on monthly basis...

For the rich, living in Asia costlier than anyplace; Shanghai priciest city

Facts       Apr 09, 2021

  If you’re wealthy, Asia Pacific is the most expensive place to live in, with Shanghai overtaking Hong Kong as the priciest city in the world. Those are some of the key findings from a Julius Baer Group Ltd. report about luxury lifestyles released Friday, which...

Equity MFs see Rs 9,115 cr inflow in Mar after 8 straight months of outflow

Indian News       Apr 08, 2021

New Delhi: After eight months of consecutive outflows, equity mutual funds witnessed a net inflow of Rs 9,115 crore in March amid correction in the stock market. Barring multi-cap and value fund categories, all the equity schemes saw inflow last month, data from the Association...

FPIs invest Rs 2.74 lakh cr in equity markets during FY'21

Indian News       Apr 06, 2021

  New Delhi: The Finance Ministry on Tuesday said India witnessed strong Foreign Portfolio Investment (FPI) inflows into the equity markets to the tune of Rs 2,74,034 crore during 2020-21, despite the outbreak of COVID-19. This reflects steadfast confidence of foreign investors in the fundamentals of...

Investors' wealth tumbles over Rs 2.16 lakh cr as markets crash

Indian News       Apr 05, 2021

Mumbai: Investors' wealth tumbled over Rs 2.16 lakh crore at close of trade on Monday as markets crashed amid a sharp spike in coronavirus cases in the country. The 30-share BSE benchmark Sensex plummeted 1,449.03 points to 48,580.80 intra-day. It finally closed 870.51 points or...

India gold lenders cut tenor, seek more collateral as prices plunge

Indian News       Apr 05, 2021

  Mumbai: Indian firms that lend against gold are cutting tenors and seeking more collateral to protect against the plunge in prices of the precious metal. Market leader Muthoot Finance Ltd. has been offering discounts on interest rates and other incentives to borrowers who chose to...

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