Wealth Management
Gold may surge to Rs 40,000 per 10 gram by Diwali
Mumbai: Amid global growth concerns and heightened trade tensions, gold prices might cross the Rs 40,000 mark by Diwali, analysts have said. Typically, the demand for gold reflects the expectations about the future, the prices of the precious metal tends to rise amid uncertain economic...
World's wealthiest family gets richer by $4 mn every hour, $100 mn a day
The numbers are mind-boggling: $70,000 per minute, $4 million per hour, $100 million per day. That’s how quickly the fortune of the Waltons, the clan behind Walmart., has been growing since last year’s Bloomberg ranking of the world’s richest families. At that rate, their wealth...
Nearly half of Indians open to taking loan for improving lifestyle: Survey
Amid fears of a slowdown across the corporate sector, Indians still want loans for lifestyle-related purchases. A survey by consumer finance firm Home Credit India showed that 67 percent would take a loan to purchase an item. This study conducted by research agency Absolutdata has...
RBI pushes for growth,cuts repo rate by 35 bps to 5.40%, to set up a Central Payments Fraud Information Registry
MUMBAI: The Reserve Bank of India on Wednesday cut interest rates for a fourth straight meeting in 2019, taking advantage of mild inflation to expand its effort to boost an economy growing at its slowest pace in nearly five years. With the fourth cut in...
China opens financial sector to increased foreign investment
Beijing: China opened up its financial sector to more foreign investment as the government said it will take targeted measures to cope with rising risks and challenges facing the industry. Foreign investors can take a stake or control entities including wealth management units of commercial...
Mukesh Ambani keeps salary capped at Rs 15 cr for 11th yr in a row
Richest Indian Mukesh Ambani has kept his annual salary from his flagship firm Reliance Industries capped at Rs 15 crore for the eleventh year on the trot. Ambani has kept salary, perquisites, allowances and commission together at Rs 15 crore since 2008-09, forgoing over Rs...
Wealth of high net worth individuals fell 3% in 2018: Report
The overall wealth of High Net Worth Individuals (HNWI) declined by 3 per cent in 2018, resulting in a worldwide loss of $2 trillion, said the World Wealth Report 2019 (WWR). This is the first drop in the last seven years, said the report published...
Mutual funds witnessed 60% fall in net inflows in FY19
New Delhi: During 2018-19, the 44-player mutual fund industry witnessed net inflows of Rs 1,09,701 crore compared to a net inflow of Rs 2,71,797 crore in 2017-18, a fall of 60 percent year-on-year, according to the Economic Survey. Lower net inflows were largely on the...
Buffett Donates $3.6 Billion of Berkshire stock to five charities
Warren Buffett agreed to donate $3.6 billion worth of Berkshire Hathaway Inc. stock to five charities, including the Bill & Melinda Gates Foundation, in his latest disposal since making a pledge to give the shares away. That brings the total amount of stock he’s given...
Uneasiness and pessimism abound among the majority of the world’s population
Starting a family, buying homes and other traditional markers of achievement are no longer coveted by millennials and Gen Z, whose habits have been an obsession for marketers seeking to tap their spending power. In its Global Millennial Survey 2019, Deloitte has mapped the changing...
