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Finance Sector

Goldman Sachs Depended on Lehman and Citigroup to Protect against the Failure of AIG

Finance Ministry introduces the FSDC

Bajaj FinServ declares its first quarter Results; posts 57.14 pc jump in net profit in Q1 FY11

Bajaj FinServ declares its first quarter Results; posts 57.14 pc jump in net profit in Q1 FY11Bajaj FinServ has declared its first quarter results. The company's Q1 consolidated net profit was up at Rs 66 crore versus Rs 42.1 crore, year-on-year (YoY). Its consolidated income from operations was at Rs 124.1 crore versus Rs 106.2 crore.

The company participates in the insurance- life and general and retail financing space.

Goldman admits “mistake” and regrets

Goldman admits “mistake” and regretsThe “flash crash”, the cost of settling an embarrassing civil fraud suit and the stock market madness in the month of May and June struck Goldman’s second-quarter profits.

Srikanth of Citi Group will join RIL as deputy chief financial officer

Marketing head of South Asia of Citigroup Inc, V Srikanth, will join as the deputy chief financial officer of Reliance Industries as the company is looking for hiring executives to deal with its expansion plans having the required expertise in the world financial markets

$300-mn WB loan to boost micro lending

$300-mn WB loan to boost micro lendingTwo agreements have been signed by India with the World Bank for loans amounting to $ 407 million to boost up micro finance services in non banking areas and for improving capacity for generating quality statistics.

Temasek’s Portfolio witnesses 43% rise

Temasek-HoldingsAccording to a recent report, the worth of Temasek Holdings assortment increased by 43%. In the comprehensive notes that followed the Companies announcement showed that the Company is transparent.

The Company witnessed a record high of S$186 billion in the 12 months prior to March. In the year 2008 the revenue generated by the Company was S$185 billion.