Finance

In Pics, Finance Minister Nirmala Sitharaman Shows Budget Document At Parliament

Finance Minister Niramala Sitharaman will soon present her maiden budget after PM Modi led BJP won the Lok Sabha elections with a massive victory. Ahead of the budget that Ms Sitharaman will present at the parliament at 11 am, the finance minister along with MoS Finance Anurag Thakur, Finance Secretary SC Garg, Chief Economic Advisor Krishnamurthy Subramanian and other officials, ... Read More »

Nirmala Sitharaman gets finance ministry, Amit Shah home as Modi 2.0 portfolios announced

Former Defence Minister Nirmala Sitharaman has been appointed as the new finance minister with former home minister Rajnath Singh getting the defence portfolio in Prime Minister Narendra Modi’s new Cabinet. Amit Shah will be the new home minister. Former foreign secretary S Jaishankar will helm the Ministry of External Affairs, a press statement from the Rashtrapati Bhavan said. Former textile ... Read More »

Ujjivan Small Finance Bank appoints Nitin Chugh as MD, CEO from Dec 1

Ujjivan Small Finance Bank, a subsidiary of the listed entity Ujjivan Financial Services, on May 17 announced the appointment of Nitin Chugh as its MD and CEO for a period of three years with effect from December 1, 2019. The Reserve Bank of India (RBI) has approved Chugh’s appointment, Ujjivan Financial Services said in a BSE filing. “This appointment comes ... Read More »

Family finance: Salaried Raj can meet his financial goals with ease

Sam Raj is a marketing professional, who is currently single and gets a monthly salary of Rs 2.1 lakh. He stays in a rented accommodation in Hyderabad, but has bought a house worth Rs 75 lakh, for which he has taken a Rs 55 lakh loan and is paying an EMI of Rs 55,000. Besides the house, his portfolio comprises ... Read More »

Power Finance not to extend open offer to REC’s minority holders

Power Finance Corp said on Monday the company was not considering extending the open offer to the minority stakeholders for its deal with REC Ltd. There has been no finalisation on the deal value, the non-banking finance company said. The Indian government had approved a plan in December by one state-owned lender to the power industry, Power Finance, to buy a ... Read More »

UN’s flagship green finance fund fights to regain credibility

A body that aimed to create a new model for aid has been beset by infighting The GCF backs projects to protect India’s coastal communities from climate change © Bloomberg Share on Twitter (opens new window) Share on Facebook (opens new window) Share on LinkedIn (opens new window) Save Save to myFT Leslie Hook, Clean Energy and Environment Correspondent 4 ... Read More »

Italy fines car finance cartel 678 million euros

Italy’s anti-trust authority said on January 9 it has fined a swathe of top car makers, including BMW, Fiat-Chrysler, Ford and Toyota, 678 million euros (USD 776 million) for operating a financing cartel. The car manufacturers and their respective banks which offer financing to customers purchasing vehicles were found guilty of running a cartel from 2003 to 2017, the AGCM ... Read More »

Don’t panic: Despite volatility, wealthy investors plan no money moves, CNBC survey says

It’s hard to avoid the allure of panicky headlines when the Dow is below 23,000 and the Nasdaq has entered a bear market, but for every “record” stampede of investors into bonds and sudden flood of money into cash tracked by a Wall Street firm, there’s a wealthy American making a money move that might seem even more shocking: not ... Read More »

A Cost-Saving Medical Revolution If We Can Finance It

  Getty Despite the constant barrage of negative news, this is an exciting time for patients. Truly innovative medicines and gene therapies are under development. New gene therapies are particularly exciting because these therapies do not just treat diseases – they often cure them by fixing underlying genetic defects, frequently with only one dose. There is great optimism that these ... Read More »

London to lose $900 billion to Frankfurt due to Brexit, German finance group claims

Boris Roessler | Picture Alliance | Getty Images The skyscrapers of Frankfurt’s banking metropolis. London is predicted to lose up to 800 billion euros ($909 billion) of assets by March next year, as banks move their business operations to other hubs before Brexit takes place. Lobby group Frankfurt Main Finance (FMF) released the figure last week, which it calculated based ... Read More »