Author: Biz India

Coming Home for Good: A Story about a Financial Consultant Who Quit His Investment Banking Job in New York To Return to India and Work for a Non-Profit

Coming Home for Good: A Story about a Financial Consultant Who Quit His Investment Banking Job in New York To Return to India and Work for a Non-Profit

Posted by | May 18, 2012 |

By Kareena N. Gianani Midday Earlier this year, when 27 year-old Karan Moudgil quit his job as a private equity consultant at Goldman Sachs in New York, US, and decided to return to India — 17 years after he left Delhi in 1995 — his friends and family were quite baffled. After he told them he was going to work in the social development space, they chose to keep mum, sure that Moudgil would realise his folly and return in no time. Two months ago, Moudgil landed up at TechnoServe, an organisation that helps entrepreneurial individuals in rural areas...

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Spain Tumbles Officially Into Recession As European Leaders Prepare For Crisis Talks

Spain Tumbles Officially Into Recession As European Leaders Prepare For Crisis Talks

Posted by | May 18, 2012 |

Source: Business Today Spain tumbled into recession and European stock markets fell on Thursday as Greece installed a crisis government to tackle its crippling debt and top EU leaders prepared for crisis talks. European leaders were to hold a videoconference later in the day, initially to discuss an upcoming G8 meeting of industrialized countries but also to consider the situation in Greece and elsewhere across the 17-nation eurozone. In Athens, a caretaker government took office to organize the country’s second elections in six weeks after an inconclusive May 6 vote jolted the eurozone. British premier David Cameron was to...

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China May Overtake India in Gold Demand in 2012, Say World Gold Council Executives

China May Overtake India in Gold Demand in 2012, Say World Gold Council Executives

Posted by | May 18, 2012 |

Source: Economic Times MUMBAI: China may overtake India as the largest consumer of gold this year as demand for the precious metal in the neighbouring country in the first three months of 2012 has surged while the same has declined in India in the same period, the World Gold Council said today. The demand for gold in China has touched a record high of 255.2 tonnes during the January-March period, whereas it fell by a sharp 29 per cent to 207.6 tonnes in India. “As we previously forecast, it is likely that China will become the largest source of...

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DLF Properties to Sell 17-Acre Mumbai Plot For About $537 Million, One of the Highest-Priced Ever

DLF Properties to Sell 17-Acre Mumbai Plot For About $537 Million, One of the Highest-Priced Ever

Posted by | May 18, 2012 | ,

By Ravi Teja Sharma and Kailash Babar Economic Times NEW DELHI|MUMBAI: India’s biggest real estate firm DLF, which is looking to offload non-core assets to pare debt, has received offers of Rs 2,900 crore (about $537 million, using the exchange rate of US$1.00=Rs.54.00) for its 17-acre plot in Mumbai’s Lower Parel area. A senior executive, who did not wish to be named, told ET that the Mumbai-based builder Lodha Group and American private equity fund Vornado Realty Trust had together made an offer to DLF. A builder from the Middle-East had separately offered a similar price for the plot,...

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Lower Value of Rupee Opens Up Larger Business Volume Possibilities for Indian Information Technology Firms

Lower Value of Rupee Opens Up Larger Business Volume Possibilities for Indian Information Technology Firms

Posted by | May 18, 2012 | ,

By Chandra Ranganathan and Sangeetha Kandavel Economic Times BANGALORE|CHENNAI: As Indian software services firms wait out the lull in demand, the depreciating rupee – the Indian currency has fallen by nearly 8% against the dollar since April – is opening up new opportunities while throwing up some challenges. Besides the translational gains fluffing up revenues and profits, Indian IT firms could also earn some brownie points with their clients by passing on some of the foreign exchange gains as savings to its US clients. IT firms could also plough back some of the extra income into sales and marketing...

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