It’s official. India believes a government led by Narendra Modi, the contentious prime ministerial candidate for the opposition Bharatiya Janata Party, would be a blessing for the economy. At least, so says Goldman Sachs.
In a note to clients on Tuesday, analysts at Goldman increased their target for the Nifty index at the end of 2014 to 6,900 points. The benchmark index is currently trading around 6,240 points.
Earlier this year, Goldman had a cautious view on India. But the Nifty has gained 30 per cent since the end of August and the bank has good reason to raise its investment outlook. Continue reading »
So, your reputation has taken a battering in recent years and you’re now just about out of the spotlight. And, even if you’re not deeply loved, at least most people have got bored of calling you the Vampire Squid.
What do you? A: Try to ensure you do everything you can to keep your nose clean and stay away from controversy? Or B: Take on what looks like a highly lucrative private bond deal for a government-linked entity in Malaysia, barely a month ahead of what is expected to be the closest fought election since elections began in the late 1950s.
If you’re Goldman Sachs, the answer is… B! The question is: why? Continue reading »
The departing chairman and chief executive of the Libyan Investment Authority has said he was about to appoint lawyers to seek compensation from banks including Société Générale and Goldman Sachs – banks he has accused in the past of causing losses worth billions of dollars.
In a wide-ranging interview published in Euromoney magazine, Mohsen Derregia (pictured), who is being ousted from the LIA after just 11 months in the top job, speaks passionately about his removal – which he is challenging – and the importance of the approximately $60bn sovereign fund. Continue reading »
A sign, perhaps, that the recent Chinese equities rally is running out of steam?
It emerged on Monday that Goldman Sachs has launched the sale of another slice of its stake in Industrial and Commercial Bank of China. According to Reuters and Bloomberg, the US investment bank is offering about $1bn-worth of Hong Kong-listed ICBC shares at HK$5.77 each, a discount of 3 per cent to Monday’s close. Continue reading »
The ingredients were always going to be interesting…
- Ananda Krishnan, or AK, one of Malaysia’s richest tycoons: check.
- 1MDB, a Malaysian sovereign wealth fund: check.
- Goldman Sachs: check.
- Sheikh Mansour-led Ipic of Abu Dhabi: check.
When 1MDB issued what has been touted as Asia’s biggest sole-led dollar-bond sale ex-Japan in May, it almost slipped under the radar. The issue was never meant to be made public but somehow it flicked up on bankers’ screens, sparking caustic commentary. Part of that, no doubt, was sour grapes. But some intriguing questions remain unanswered. Continue reading »
Goldman Sachs is going big in India. The investment bank has signed the biggest commercial real estate lease in the country’s history.
Goldman is to lease 1m sq ft of office space in Bangalore, India’s IT capital, to house its 4,000 employees working on its back-end processes – from technology to finance – in three purpose-built buildings that will be ready in 2017. Continue reading »