The announcement was made yesterday when the domestic bourses were closed for Diwali.The company said the acquisition will help it chart a roadmap to a deposit-taking franchise.
Pursuant to all applicable regulatory approvals from relevant regulators in lndia and the UK… Indiabulls Housing Finance Ltd is investing USD 100 million for 39.76 per cent stake in OakNorth Bank, a licensed UK commercial Bank… the company will be the largest shareholder in the bank, Indiabulls Housing said in a regulatory filing yesterday.
It further said: Sameer Gehlaut, Chairman of the company, will be investing in his personal capacity up to 10 per cent stake in OakNorth Bank at the same...
Turn back three months and market pundits were all singing the same song that global stock markets were about to crash. Led by the economic slowdown in China and potentially higher interest rates in the US, markets did drop almost 15 percent in the US and much more in some emerging markets. The pundits were in ecstasy at the impending doom. Interesting that investors losing money is what gets them all excited, but thats for another column! Fast forward a few months and the famous Mark Twain quote, The reports of my death have been greatly exaggerated, is very apt regarding financial markets.
Panic doesnt pay
Back in August, during the height of the market...
Submitted by Wall St. Daily as part of our contributors program
Time to Buy Hong Kong?
By Carl Delfeld, Special Correspondent
Is the Hong Kong market a bargain or losing its edge?
With the Hang Seng Index trading at its cheapest valuation in 10 years – close to the valuations of Russia’s and Pakistan’s markets – it’s an important question.
So what’s wrong? A couple of things . . .
Crony Capitalism: The China-controlled government is blocking any political reforms. As a result, crony capitalism is steadily rising, with Hong Kong at the top position of a “crony index” put together by The Economist....
According to a recent US Veterans Administration Poverty Trends report, nearly 15-percent of veteran index a impoverished or below poverty rates. Certified financial expert Shawn Dorrough, MBA., dedicated his 23-year career to reversing that trend.
The difficult task of financial stability is vitally important for all Americans, but, veterans have an even tougher challenge. Sometimes the impact of multiple deployments, health issues, and a tough economy can make adjusting to civilian life a bit tougher....
The Anderson School, UCLAs business school, became self-funding last year. For many years, the premier professional schools within the University of California system complained that the state had moved from supporting their education mission to only encouraging it, to barely contributing anything to ongoing costs.
Less than 6 percent of the variable cost of Anderson was paid by the state when the school chose to pull out of the system. (This does not, however, include the value of the rent of the buildings in Westwood, on the main campus of UCLA; nor the intangible benefits of being part of the UC system, the greatest public university in the world.)
Credit cards are now competing with personal loans in the debt consolidation market, according to retail financial services researcher Canstar Cannex.
The analysis is contained in the company’s star ratings covering personal loans in which it said that while car purchases used to be the most popular reason people took out a personal loan, it was a sign of the times that this purpose had been overtaken by debt consolidation.
However, it said consumers were increasingly finding credit cards a convenient vehicle for debt consolidation, largely because providers were offering balance transfers ranging from 0 per cent for six months to 4.99 per cent for the life of the outstanding...
Ruggiero, who owned a real-estate business in Dorchester, and her co-conspirator identified buildings for sale in Dorchester that they could purchase and then convert into individual condominium units. After this conversion, Ruggiero and the co-conspirator recruited individuals to pose as purchasers of the condominiums, promising them that they were making a good investment. Ruggiero, who held herself out as a broker, and her co-conspirator actually owned the units.
After she recruited the “buyers,” Ruggiero arranged for the submission of mortgage applications to various lenders, which contained false information about the “buyers'” income, assets,...