Karan Singh, the CEO of Sunburn, on how great food, pampering and beaches make for the perfect holiday: Favourite destinations “I love Hayman islands in Australia for their great coral reef and snorkelling in clear blue waters. Other favourites include Lake Tekapo in New Zealand for star -gazing which was a magical experience. Queenstown for its adventure sports and great vibe and Las Vegas too, which is a complete attack on the senses in a totally awesome, mind-numbing manner. Finally, I also love Santorini in Greece for its beaches and fabulous food.” My first solo trip “The most memorable ones have been to Croatia and Amsterdam. Even though both were essentially work trips , I combined them with trying out the local food and bar scene. However, I’ve learnt that I prefer to travel with loved ones or friends as I’m essentially a people person. I prefer to share new experiences. Also, the more people, the more dishes you can sample.” Luxe life … [Read more...] about Tripping on luxury: What is Sunburn CEO’s idea of a perfect holiday?
2016 uk bank holidays
Rajat Monga’s stint at Yes Bank is as old as that of the lender itself. Perhaps, few in the professional hierarchy know the bank better. As the bank readies for a change at the top, senior group president Monga tells Joel Rebello and MC Govardhana Rangan that things can only get better for the private-sector bank. Edited excerpts: How have your clients been affected by what has happened in the last few months? Between August-end, when these issues came up, and November-end, our loans grew 5% to 6%, and time deposits also grew similarly. My savings account grew 6%, and current account by 3% to 4%. Certificate of deposits fell 50% also because the pricing expectations of mutual funds went up; so we relaxed on that book. In prior quarters, we might have grown strongly like we grew 50% to 60% in the recent quarters because there was a huge opportunity as most banks were dealing with their own issues and we had just raised capital in 2017. So, we could bank the parties that were … [Read more...] about Yes Bank is in a position to deal with mishaps better: Rajat Monga
MUMBAI: Singapore-based DBS Bank, the only large foreign bank looking to open a local subsidiary in India, swung to loss in the fiscal ended March 2018 due to fall in both interest as well as non-interest income, even as provisions for bad loans and operating expenses remained elevated. UK-based Standard Chartered, the largest foreign bank in India in terms of branches, also reported a drop in its net profit as total income fell 6 per cent in the fiscal ended March 2018. DBS reported a Rs 533-crore net loss in the year ended March 2018 versus a Rs 13-crore profit a year earlier. Interest income for the bank fell 4 per cent to Rs 2,485 crore from Rs 2,578 crore mainly because total loan book shrunk 18 per cent to Rs 17,867 crore in March 2018 from Rs 21,838 crore a year earlier. However, other income, or bank’s earnings from fees, fell more sharply, halving to Rs 297 crore in March 2018 from Rs 623 crore a year earlier. A 4 per cent rise in provisions also did not help the … [Read more...] about DBS Bank’s FY18 net loss at Rs 533 crore
Mumbai: Yes Bank, facing investor wrath over the actual amount of its stressed assets, is in talks with two private equity investors – Advent International and Apax Partners – to raise equity funds to build investor confidence after attempts for a share sale to a broader set of institutional investors did not materialise, said two people familiar with the matter. The bank may raise as much as Rs 3,000 crore from the share sale to private equity investors as its new chief executive Ravneet Gill tries to rebuild the image of the bank which took a knock in the past six months after the RBI turned down its proposal for another term for founder Rana Kapoor. “The bank has to raise capital quickly and Gill doesn’t have the luxury of time,’’ said one of the persons cited above. “Raising funds in a qualified institutional placement was proving to be difficult, so the choice has now come to private equity investors.’’ Apax and Advent … [Read more...] about Yes Bank in talks with PE funds for equity money
When Zhou Xiaochuan hands over the reins of the People’s Bank of China after 15 years in control, his successor will take charge of a central bank with unprecedented global influence. The economy’s size has ballooned from $1.5 trillion in 2002 when he started -- back when Alan Greenspan was leading the Federal Reserve -- to about $12 trillion today. China is estimated to have contributed more than a third of global growth last year, according to the International Monetary Fund. The nation surpassed the U.S. as the world’s biggest oil importer last year, buying about 8.43 million barrels a day. It’s also the world’s biggest trading nation with total trade of $3.82 trillion in 2016, ahead of $3.58 trillion for the U.S. Other central banks are scrambling to deepen links and decipher PBOC policies. Reserve managers including the Bundesbank are buying yuan, Thailand has joined countries extending a currency swap arrangement while the Bank of Indonesia is … [Read more...] about People’s Bank of the world? Next PBOC head inherits global clout