HDFC masala bond ‘a taste of things to come’

The Housing Development Finance Corporation (HDFC) of India launched a masala bond at the London Stock Exchange on Monday (1) in what is being interpreted as a gesture of confidence in the post-Brexit British economy. So far, 30 off-shore rupee bonds have been listed on the London Stock Exchange but HDFC’s was the first by […]

London Stock Exchange’s pride in being HDFC bond ‘partner of choice’

One of the most senior figures in the City, Nikhil Rathi, welcomed the launch of HDFC’s masala bond. Rathi, who is of Indian origin but born in the UK, is the CEO of the London Stock Exchange and also director of international development at the London Stock Exchange Group. “It’s a fun job,” he told […]

‘Very compelling’ offer for Sahara’s hotels abroad

India’s Sahara group is said to be considering a $1.3 billion (£980 million) offer from a new suitor for its three prized overseas hotels, including London’s Grosvenor House and the Plaza hotel in New York. A consortium of family office investors, comprising Britain’s 3 Associates (led by Jesdev Saggar) and others from the Middle East, […]

Alok Sharma visits India to expand trade opportunities

Chancellor Philip Hammond has warned that Brexit would cast a “shadow” over the world economy, but said the UK was eyeing exciting opportunities opening up with “India, China and Australia”, among other countries. Speaking on the sidelines of the G20 meeting of leading world economies in Chengdu, China, Hammond said the vote to leave the […]

Barclays survey: India leads the way in new digital age

Workers in emerging countries such as India and Brazil are more confident about digital skills than those in developed markets, a survey has found. Research carried out by Barclays also showed that while 38 per cent of British workers said their employer offered training in digital skills, that figure is considerably higher in India (67 […]

Kia Motors ‘will pick first India plant site next month’

South Korea’s Kia Motors Corp is expected to pick a site next month for its first factory in India, stepping up plans to start making cars in one of the world’s fast-growing auto markets, sources familiar with the matter said. The move would enable Kia to leverage the existing supplier base of its affiliate Hyundai […]

How millions from the Bangladesh Bank heist disappeared

When the Federal Reserve Bank of New York cleared five transactions made by the Bangladesh Bank hackers, the money went in two directions. On Thursday, February 4, the Fed’s system sent $20 million (£15m) to Sri Lanka and $81m (£61m) to the Philippines. The Sri Lankan transaction contained a small but crucial error: The money […]

Vijay Mallya refutes diversion of funds allegations

BELEAGUERED Indian businessman Vijay Mallya has insisted all his transactions at United Spirits Limited (USL) were “legal and above board” after the company disclosed in a stock exchange filing that company funds were diverted. Mallya has been living in the UK for the past four months while authorities in India seek his arrest as several […]

CII pushes for India-UK free trade deal

An “India-UK Free Trade Agreement” is the best way to get around the problems caused by Brexit, it was suggested last week by the Confederation of Indian Industry (CII). The CII sends a senior delegation, consisting of heavyweight captains of industry, to London every summer to hold a summit and review the bilateral relationship. This […]

Tata Steel mulls ThyssenKrupp tie-up

German conglomerate ThyssenKrupp on Saturday (July 9) defended merger talks with Indian rival Tata Steel saying the consolidation of the sector in Europe was necessary due to the “difficult economic situation”. The Indian firm said the previous day it was in talks with its German competitor and other unnamed groups to create a large European […]