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<ul><li><keyword id="48085" type="COMPANY" weightage="20" keywordseo="Credit-Suisse">Credit Suisse</keyword> has announced that it will hire over 1,000 IT employees in India.</li><li>Indians already form the largest portion of Credit Suisse’s global workforce, accounting for 25% of its employees.</li><li>The announcement comes amid Swiss regulators being hot on the company’s heels for regulatory breaches and after the bank faced a massive loss due to the collapse of Archegos Capital Management.</li></ul>Credit Suisse’s staff in India already accounts for 25% of its workforce and the Switzerland-based firm is planning to onboard another 1,000 employees, for the information technology (IT) segment, locally this year. <br /><br />“Credit Suisse’s goal is to leverage the large pool of skilled technology talent available in India, to further enhance its in-house core capabilities,” the bank said in a statement. <br /><br />The news comes after half a dozen of the bank’s senior executives have <a href="https://www.bloombergquint.com/business/six-credit-suisse-bankers-exit-as-post-archegos-defections-mount">left the firm</a> after Credit Suisse took the biggest hit, as investment banks raced to exit their trading positions as Archegos Capital Management collapsed.<br /><br />Adding the bank’s troubles, a report by the Swiss financial regulator <a href="https://www.moneylife.in/article/credit-suisse-overlooked-breaches-of-regulations-for-years-report/63876.html">FINMA</a> claims that Credit Suisse ignored over 100 warnings of potential breach of regulations.<br /><br /><cmsannotation type="cmsannotation" annotationid="What positions is Credit Suisse hiring for in India?" comment="subhead" text="What positions is Credit Suisse hiring for in India?"><span data-til="noop">What positions is Credit Suisse hiring for in India?</span></cmsannotation><br />According to Credit Suisse, the firm is looking to hire both developers and engineers who can focus on creating banking solutions around emerging technologies. This includes cyber security, data analytics, cloud computing, API development, machine learning (ML) and artificial intelligence (AI).<br /><br />    <div type="ExtQuote" text="“The pandemic has accelerated the use of digital solutions across many areas. We have effectively employed collaboration tools to enable seamless external and internal communication to support teamwork and effective delivery.”" auname="John Burns, Senior Franchise Officer at Credit Suisse"></div><br />Not only are Indian employees the biggest portion of Credit Suisse’s workforce, but that footprint is only going to grow. The 1,000 new hires will be in addition to the 2,000 IT employees the firm has already brought on board in India, over the last three years. <br /><br />The company iterated that even though the hires will be local, they will be trained to meet the firm’s global requirements, especially when it comes to delivering IT services and solutions for the bank’s businesses around the world.<br /><br /><strong>SEE ALSO:<br /><a href="https://www.businessinsider.in/business/telecom/news/airtels-india-business-is-back-in-the-black-after-a-very-long-time/articleshow/82709100.cms">Airtel's India business is back in the black after a very long time</a><br /><br /><a href="https://www.businessinsider.in/business/corporates/news/mphasis-aims-to-be-a-10-billion-company-in-the-next-3-5-years/articleshow/82700898.cms">Mphasis aims to be a $10 billion company in the next 3-5 years ⁠— that's twice its current size</a><br /><br /><a href="https://www.businessinsider.in/science/environment/news/cyclone-tauktae-is-intensifying-with-surprising-speed-bearing-the-tell-tale-signs-of-climate-change/articleshow/82705780.cms">Cyclone Tauktae is intensifying with surprising speed, bearing the tell-tale signs of climate change</a></strong><br />

Credit Suisse is looking to hire over 1,000 IT employees in India as it battles controversy at home

Next time you take a trip to ‘experience’ the countryside or buy handicraft items to empower the poor artisans from rural <st1:place w:st="on"><st1:country-region w:st="on">India</st1:country-region></st1:place>, you should be aware of the fact that the equation is bound to change someday. Very soon, the urban <st1:country-region w:st="on">India</st1:country-region> might depend on the rural <st1:place w:st="on"><st1:country-region w:st="on">India</st1:country-region></st1:place> to rejuvenate the deficient <keyword id="34412" type="ORGANIZATION" weightage="40" keywordseo="economy">economy</keyword>. And no, we ain’t kidding this time. <p class="ecxmsonormal">
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	For one, corporate houses are creating specific advertisements for rural areas, which are close to their cultural identity, as against the blanket ads found in urban <st1:place w:st="on"><st1:country-region w:st="on">India</st1:country-region></st1:place> and more specifically, in metros and cosmopolitan cities. In fact, villages, with their developmental index rising steadily, are giving tier II cities a run for their money as prospective business and industrial hubs. And they have also become the most unexpected and unusual contenders on the consumer index.<o:p></o:p></p>
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	It is a slow yet steady trend that has been gaining ground over the past few years. According to a CRISIL report, rural <st1:place w:st="on"><st1:country-region w:st="on">India</st1:country-region></st1:place> spent Rs 3,750 billion ($67,144 million), as against Rs 2,994 billion ($53,607 million) spent by the urban population between 2009-10 and 2011-2012. The data was collated by the National Sample Survey Organisation (NSSO), to be later used by CRISIL in its report. The NSSO survey also noted that per capita rural consumption grew 19% annually while the urbanites had to be content with 17% growth per year.<o:p></o:p></p>
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	No wonder you see a watch company leveraging the Kumbh Mela for its marketing strategy or a toothpaste company using popular cultural forms such as puppetry and traditional music for business promotion. The urban populace may perceive it as nostalgia but for rural consumers, it means relating to a product in their own language and as per their cultural parameters. It is more like bringing the companies to their doorsteps and making them go down on their knees because rural <st1:place w:st="on"><st1:country-region w:st="on">India</st1:country-region></st1:place> has the buying power. After all, the power of buying dictates everything else, even the way a company creates or changes its marketing policies.<o:p></o:p></p>
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	The headway urban <st1:place w:st="on"><st1:country-region w:st="on">India</st1:country-region></st1:place> had made over the past few decades in overtaking the rural segment in terms of earnings and spending has changed significantly from the beginning of the current decade. <o:p></o:p></p>
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	According to experts, the current growth in rural consumption is due to a number of reasons. One of the key factors is the rise in non-farm job opportunities which were beyond the purview of the market-based economy that dominated the agrarian society’s equations till now. To sustain this rural boom, it is critical to substitute short-term income-boosters (government-backed poverty eradication and self-reliance programmes) with empowering job opportunities.<o:p></o:p></p>
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<p class="ecxmsonormal"> <keyword id="48085" type="CITY" weightage="40" keywordseo="Credit-Suisse">Credit Suisse</keyword> Research Institute’s Emerging Consumer Survey (2014) also points out that <keyword id="6355185" type="ORGANIZATION" weightage="80" keywordseo="rural-india">rural India</keyword> is riding other modes of income generation to come to the forefront of the country’s overall developmental index. As per the report, the ‘rural rising’ is taking place in the world’s two most ancient countries, India and China, who happen to be neighbours and the world’s biggest emerging economies, with future markets focusing on them. What’s more, both countries live in their villages, battling issues such as migration from rural to urban areas in search of opportunities, jobs and education.<o:p></o:p></p>
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	The popular image of an Indian village is that of one without electricity, safe drinking water and hygienic conditions. But things have changed in most of the villages, thanks to the government’s aggressive programmes to reduce poverty.<o:p></o:p></p>
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	The reports also point out that the developmental index has actually tilted in favour of rural areas, which have been showing great appetite for consumer products. When asked whether they would spend more money on what’s considered luxury in their context, such as bottled water or holidays or the next smartphone, majority of the rural Indians said they certainly would not mind spending on these. The respondents also said that all the 14 ‘luxury’ items shortlisted by the survey would be on their purchase list in the years to come. <o:p></o:p></p>
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	The access media has provided to these items considered ‘essential’ is something phenomenal despite their limited reach. For example, the number of people who owned TV sets increased to 42% in 2009-10 as against 26% just five years earlier. Clearly, the consumption pattern in rural <st1:country-region w:st="on"><st1:place w:st="on">India</st1:place></st1:country-region> is shifting from necessities to discretionary goods.  <o:p></o:p></p>
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	Needless to say, product-line companies are changing strategies accordingly. Earlier, urban <st1:place w:st="on"><st1:country-region w:st="on">India</st1:country-region></st1:place> was high on their marketing budget – as much as 70% of the budget was reserved for marketing in urban areas and a mere 30% for rural markets. But the equation has turned topsy-turvy now. Today, major companies reserve 55% for urban areas and about 45% for rural areas.<o:p></o:p></p>
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	The great Indian equalisation has begun. And rural <st1:place w:st="on">India</st1:place> is getting the big slice of this pie!<o:p></o:p></p>

Rural Rising In India: Will Villages Dominate The Consumer Market?

With the threat to voice and messaging business of telcos from apps that offer free calling and messaging service using the internet is rising, over-the top (OTT) players, or apps, such as <keyword id="790242" type="UNKNOWN" weightage="20" keywordseo="WhatsApp">Whatsapp</keyword> and <keyword id="6377887" type="COMPANY" weightage="80" keywordseo="Skype">Skype</keyword> could cut telcos voice revenues by half, forcing them to raise data rates which would further hurt broadband penetration in India, experts say. <br />
<br /> According to a report by brokerage <keyword id="48085" type="CITY" weightage="60" keywordseo="Credit-Suisse">Credit Suisse</keyword>, India is among the "most exposed" to the threat, compared with other markets such as US, Europe, Australia, China and Korea where data is a substantial part of overall revenue, and voice comes bundled as part of a data package. <br /> "Proliferation of OTT content services such as Skype and Whatsapp amongst others could trigger a whopping 30-50% revenue hit on telecom companies' voice services in the coming months. Telco messaging revenues have already taken a 30% hit, thanks to OTT players," said Rajan Mathews, director general of <keyword id="105151" type="ORGANIZATION" weightage="80" keywordseo="Cellular-Operators-Association-of-India">Cellular Operators Association of India</keyword>, the trade body representing GSM carriers such as <keyword id="6354287" type="CITY" weightage="80" keywordseo="Bharti-Airtel">Bharti Airtel</keyword>, Vodafone India and <keyword id="6354924" type="PERSON" weightage="80" keywordseo="Idea-Cellular">Idea Cellular</keyword>, amongst others. <br />
	 

	Indian telcos on the other hand still derive over 80% of their revenue from voice. <br />
	 

	Ovum estimates $2.76 billion (Rs 17,545 crore) cumulative loss in SMS (and value-added service) revenue in India in the past two years due to growing popularity of OTT apps.<br />
	 

	While the research body doesn't have India-specific estimates for voice and messaging revenue losses going forward, globally, it was $54.2 billion in 2014 which is expected to grow to $63 billion by 2018.<br />
	 

	"The problem is one of arbitrage. Truth is licensed mobile operators are fighting a losing battle against unlicensed substitutable services like voice, messaging and video messaging services from the OTT players," Mathews said.<br /> Unlike the apps, a licenced mobile operator in India has to pay a host of charges, including spectrum usage charges, licence fees, <keyword id="6355686" type="COMPANY" weightage="80" keywordseo="Service-tax">service tax</keyword> to the government, which adds to a telco's cost. But an OTT can provide the same voice - voice over internet (VoIP) and messaging services for free, as they are unlicensed.<br />
	 

	"This is precisely why, licenced telecom service providers cannot compete. The government must ensure the same services attract the same rules, in the interest of mobile carriers," Mathews added. <br /> Countries like France, the <keyword id="128625" type="ORGANIZATION" weightage="80" keywordseo="Internet-and-Mobile-Association-of-India">Internet and Mobile Association of India</keyword> (IAMAI), whose views mirror those of <keyword id="6354576" type="CITY" weightage="80" keywordseo="Facebook">Facebook</keyword>, Skype, Amazon and other internet-based companies, countered, saying that internet apps as intermediaries were subject to Indian laws and Information Technology Act 2000. Additional regulation would lead to hampering innovation and unintended consequences.<br />
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	(Image: Indiatimes) 
<br /><br />

Whatsapp, Skype might cut telcos voice revenues by 50 %

<br /><ul><li><strong>According to a report published by the <keyword id="519976" type="ORGANIZATION" weightage="20" keywordseo="Credit-Suisse-Research-Institute">Credit Suisse Research Institute</keyword> (CSRI), titled 'The CS Gender 3000 in 2019: The changing face of companies,' female representation in boardrooms, is as low as 15.2%.<br /></strong></li><li><strong>The global average of female representation in senior management stood at 20.6%.<br /></strong></li><li><strong>Gloabally, India ranks 23rd among the 56 countries in terms of women representation at senior levels — and has grown by 4.3 percentage points in the last five years.</strong></li></ul>There are few female directors on board Indian companies. As per a <keyword id="48085" type="COMPANY" weightage="20" keywordseo="Credit-Suisse">Credit Suisse</keyword> report, women in boardrooms is at a mere 15.2% — the third lowest in the APAC region.<br /><br />The reported titled CS Gender 3000 in 2019 says that global average is at 20.6%. <br /><br />Globally, India ranks 23 among the 56 countries in terms of women representation at senior levels — and has grown by 4.3 percentage points in the last five years, Mint <a href="https://www.livemint.com/companies/news/india-lags-in-female-representation-in-senior-management-credit-suisse-report-11570712711545.html">reported</a>. <br /><br />The top three countries with the high women headcount are France, Norway and Belgium at 44.4%, 40.9% and 35.9% respectively. Japan came in the second lowest at 5.7%.<br /><br />"India saw a slight improvement in female representation in senior management of 1.6 percentage points over the past three years, rising from 6.9% in 2016 to 8.5% in 2019, based on the matched dataset. However, the country holds the third-lowest spot in APAC, ahead of South Korea (4%) and Japan (3%)," the report noted.<br /><br />In India, women participation in management roles has jumped to 17.6% from 13.8% in 2016 but India has merely 2% women CEOs — also the third lowest in Asia-Pacific.<br /><br />The report surveyed more than 30,000 executives from over 3,000 companies across 56 countries — including APAC region.<br /><br /><strong>See also:</strong><br /><a href="https://www.businessinsider.in/a-whopping-40-of-indias-women-engineers-dont-have-jobs-because-of-rampant-sexism-at-workplace/articleshow/67486684.cms">A whopping 40% of India's women engineers don't have jobs because of 'rampant' sexism at workplace</a><br /><br /><a href="https://www.businessinsider.in/gig-economy-added-40000-new-women-workers-but-at-low-wages/articleshow/70464148.cms">Gig economy added 40,000 new women workers, but at low wages</a><br /><br /><a href="https://www.businessinsider.in/tcs-has-36-women-employees-in-the-workforce/articleshow/70190643.cms">TCS is running on women power, with over 150,000 permanent employees</a><br />

Only 15% of women in Indian boardrooms — new study says it’s the third lowest in Asia Pacific

<ul><li><strong>The global investment bank is essentially advising investors to put more money in India compared to other markets.</strong></li><li><strong>The money will move from the funds withdrawn from China and Thailand, which <keyword id="48085" type="CITY" weightage="20" keywordseo="Credit-Suisse">Credit Suisse</keyword> has downgraded.</strong></li><li><strong>Credit Suisse expects faster credit growth and lower interest rates in times to come. </strong></li></ul>International investment bank Credit Suisse just upgraded its rating on the Indian market to “overweight”. It essentially means that it advises investors to put more money in India compared to other markets. <br /><br />The money will move from the funds withdrawn from China and Thailand, which Credit Suisse has downgraded to “Market Weight”. This could lead to further bolstering the bull run in the Indian stock market where the Sensex and Nifty have gained nearly 10% since the beginning of 2021.<br /><br />  <div type="image" title="sensex" msid="80980519" hostid="261" caption="&amp;lt;p&amp;gt;Credit Suisse is essentially advising investors to put more money in India compared to other markets.&amp;lt;/p&amp;gt;"></div><br />There are many reasons for this upgrade. “The upgrades reflect our expectation that economic and earnings recoveries are just starting their most rapid phases for the two markets,” the report said, adding that “the pandemic is no longer a major factor.” <br /><br />The rationale cited above would hold good for both India and Australia. "India looks much better positioned cyclically and relative to the pandemic. India suffered a severe outbreak but has seen a dramatic drop in infections, likely due at least in part to achievement of herd immunity in some locations," it added.<br /><br />A couple of other projections that may be significant, include:<br /><ul><li>The credit cycle is at an earlier stage than, perhaps, all other APAC markets.</li><li>The scope for rate cuts is greater than in perhaps every other market save Indonesia.</li></ul>Faster growth in credit is good for both banks and non-banking financial companies, where the stocks have already run up significantly. <keyword id="151330" type="COMPANY" weightage="20" keywordseo="Bank-Nifty">Bank Nifty</keyword> is up 21.5% since the budget proposals were announced. More loans invested in productive businesses also lead to a virtuous cycle of economic growth. <br /><br />In India, credit growth had slowed down sharply even before the pandemic had hit.<br /><br />  <div type="image" title="Credit to industry" msid="80980736" hostid="261" caption="&amp;lt;p&amp;gt;Credit cycle is at an earlier stage than perhaps all other APAC markets, says a global investment bank while upgrading the rating on India.&amp;lt;/p&amp;gt;"></div><br />While the <keyword id="6354335" type="ORGANIZATION" weightage="20" keywordseo="reserve-bank-of-india">Reserve Bank of India</keyword> has interest rates intact in recent monetary policy reviews, Governor Shaktikanta Das has reiterated that the central bank will keep its stance “accommodative”. In other words, push for more economic growth via more money supply and credit, and worry less about the resultant inflation.<br /><br />If the <keyword id="30067" type="ORGANIZATION" weightage="20" keywordseo="RBI">RBI</keyword> does cut rates, as projected by Credit Suisse, then it will result in cheaper cost of funds for the lenders and lower interest rates for businesses and consumers. <br /><br /><strong>ALSO WATCH: India Becomes The First Asian Country To Allow Small Investors To Directly Lend To The Government</strong><br /><h1 style="background: rgb(249, 249, 249); max-height: calc(2 * var(--yt-navbar-title-line-height, 2.4rem)); overflow: hidden; font-weight: 400; line-height: var(--yt-navbar-title-line-height, 2.4rem); font-family: Roboto, Arial, sans-serif; font-size: var(--ytd-video-primary-info-renderer-title-font-size, var(--yt-navbar-title-font-size, inherit)); transform: var(--ytd-video-primary-info-renderer-title-transform, none); text-shadow: var(--ytd-video-primary-info-renderer-title-text-shadow, none);"></h1>  <div type="Youtube" id="kzIBDVVnVxQ" title="India Becomes The First Asian Country To Allow Small Investors To Directly Lend To The Government" thumbUrl="https://i.ytimg.com/vi/kzIBDVVnVxQ/mqdefault.jpg"></div><br /><strong>SEE ALSO:</strong><br /><a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/stock-market/news/the-8-billion-ipo-of-indian-railways-owned-railtel-is-now-open-for-subscription-heres-why-analysts-think-the-ipo-is-attractive/articleshow/80974550.cms">The $8 billion IPO of Indian Railways owned RailTel is now open for subscription — Here’s why analysts think the IPO is attractive</a><a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/stock-market/news/the-8-billion-ipo-of-indian-railways-owned-railtel-is-now-open-for-subscription-heres-why-analysts-think-the-ipo-is-attractive/articleshow/80974550.cms"></a><br /><a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/finance/banks/news/bank-of-india-central-bank-of-india-indian-overseas-bank-and-bank-of-maharashtra-rally-by-over-10-on-hopes-of-privatisation/articleshow/80971254.cms">Bank of India, Central Bank of India, Indian Overseas Bank, and Bank of Maharashtra rally by over 10% on hopes of privatisation</a><a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/finance/banks/news/bank-of-india-central-bank-of-india-indian-overseas-bank-and-bank-of-maharashtra-rally-by-over-10-on-hopes-of-privatisation/articleshow/80971254.cms"></a><br /><a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/tech/news/one-plus-co-founder-carl-pei-picks-android-creator-andy-rubins-essential-to-put-the-giant-reset-button-in-consumer-tech/articleshow/80970965.cms">One Plus co-founder Carl Pei picks Android creator Andy Rubin’s Essential to put the “giant reset button” in consumer tech</a><br /><br /><br /><br /><br /><br />

Credit Suisse just went ‘overweight’ on India⁠ — says the pandemic is “no longer a factor”

<p>Credit Suisse's <a href="http://economics.uwo.ca/people/davies_docs/credit-suisse-global-wealth-report-2014.pdf">2014 Global Wealth Report</a> analyzed the amount and distribution of wealth across the planet. They estimated that the sum total of global wealth in mid-2014 was a massive $263 trillion dollars, more than double the level in 2000.</p><p>Most of that wealth is concentrated in the developed countries. North America had a total of 34.7% of the planet's assets in 2014, while Europe held another 32.4%.</p><p>Wealth growth between 2000 and 2014, however, was stronger in the developing world. Wealth levels more than doubled in Latin America and Africa, more than tripled in India, and rose an incredible 350% in China.</p><p>Here's Credit Suisse's chart showing the global trend in wealth growth from 2000 to 2014:</p><p><div class="KonaFilter image-container display-table click-to-enlarge"><div><div class="image"><a title_source="Credit Suisse" title_caption="" class="zoomin" href="https://static-ssl.businessinsider.com/image/5568863f69bedd9c49a0e1b8-960/credit suisse global wealth trends.png"><span class="sprites click-to-enlarge-icon" title="Click to enlarge"></span></a><p class="source"><span><a href="http://economics.uwo.ca/people/davies_docs/credit-suisse-global-wealth-report-2014.pdf">Credit Suisse</a></span></p></div><p></p></div></div></p><p>And here's a snapshot of the distribution of wealth across regions as of 2014:</p><p><div class="KonaFilter image-container display-table click-to-enlarge"><div><div class="image"><a title_source="Business Insider/Andy Kiersz, data from Credit Suisse" title_caption="" class="zoomin" href="https://static-ssl.businessinsider.com/image/5568968e6bb3f7bd67a0e1b4-960/wealth-distribution-global.png"><span class="sprites click-to-enlarge-icon" title="Click to enlarge"></span></a><p class="source"><span><a href="http://economics.uwo.ca/people/davies_docs/credit-suisse-global-wealth-report-2014.pdf">Business Insider/Andy Kiersz, data from Credit Suisse</a></span></p></div><p></p></div></div></p>    <div class="margin-top">        <h3>NOW WATCH: <a href="http://www.businessinsider.com/new-air-force-one-tour-boeing-private-jet-2015-5">Take a tour of the $367 million jet that will soon be called Air Force One</a></h3>        <div>            <div>        <div class="ooyala-video-player" data-video-autoplay="false" data-video-id="4zNWQ2dTq0SJxfj9SagVkmMxd7YoUovg" data-player-variable="ooyalapopvideo" id="ooyalaplayer_popvideo" style="width:1280px;height:720px"></div>        </div>        </div>            </div>

Here's where the world's $263 trillion worth of stuff is

<ul><li>The rupee depreciated by 10 paise to 82.75 against the US dollar in early trade.</li><li>On Wednesday, the rupee settled at 82.65 against the US dollar.</li></ul>The rupee depreciated by 10 paise to 82.75 against the US dollar in early trade on Thursday amid negative trends in the domestic as well as global equity markets and continued outflow of foreign funds.  At the interbank foreign exchange, the domestic unit opened weaker at 82.77 against the US dollar and traded in the range of 82.80 and 82.71. <br /><br /> Later, the domestic unit was trading at 82.75 against the greenback, registering a fall of 10 paise. <br /><br /> On Wednesday, the rupee settled at 82.65 against the US dollar. <br /><br /> Meanwhile, the dollar index, which gauges the greenback's strength against a basket of six currencies, was 0.10 per cent lower at 104.54. <br /><br /> Global oil benchmark Brent crude futures rose 0.61 per cent to USD 74.14 per barrel. <br /><br /> The 30-share <keyword id="53232" type="General" weightage="80" keywordseo="bse-sensex" source="Orion">BSE Sensex</keyword> was trading 116.67 points or 0.20 per cent lower at 57,439.23 points while the broader NSE Nifty was down 34 points or 0.2 per cent at 16,938.15 points. <br /><br /> <keyword id="6438315" type="General" weightage="80" keywordseo="foreign-institutional-investors" source="Orion">Foreign Institutional Investors</keyword> (FIIs) were net sellers in the capital markets on Wednesday as they offloaded shares worth Rs 1,271.25 crore, according to exchange data. <br /><br /> Analysts said the failure of two banks in the US and crisis at Swiss banking major <keyword id="48085" type="General" weightage="80" keywordseo="credit-suisse" source="Orion">Credit Suisse</keyword> have adversely impacted market sentiments. <br /><br /> On the domestic front, <keyword id="3658" type="General" weightage="20" keywordseo="india" source="Orion">India</keyword>'s exports contracted in February for the third consecutive month, falling 8.8 per cent to USD 33.88 billion against USD 37.15 billion in the same month last year.<br /><br />SEE ALSO:<br /><a href="https://www.businessinsider.in/tech/news/how-is-gpt-4-different-from-chatgpt-and-what-makes-it-unique/articleshow/98688465.cms">How is GPT-4 different from ChatGPT, and what makes it unique?</a><br /><a href="https://www.businessinsider.in/tech/news/googles-new-ai-features-for-docs-gmail-and-more-to-rival-microsofts-workspace-toolsheres-what-it-means/articleshow/98657324.cms">Google’s new AI features for Docs, Gmail, and more to rival Microsoft’s workspace tools—here’s what it means</a><br />

Rupee falls 10 paise to 82.75 against US dollar in early trade

<ul><li>Madras High Court has reportedly allowed the winding down petition filed by <keyword id="48085" type="General" weightage="20" keywordseo="credit-suisse" source="Orion">Credit Suisse</keyword> AG against the airline for a default of $20 million.</li><li>Due to this, shares of its competitor Interglobe Aviation (<keyword id="6354706" type="General" weightage="20" keywordseo="indigo" source="Orion">Indigo</keyword>) surged nearly 4% on Tuesday.</li><li><keyword id="6358032" type="General" weightage="20" keywordseo="spicejet" source="Orion">SpiceJet</keyword>’s stock was down 0.2% at ₹68.70.</li></ul>Debt-laden SpiceJet’s woes are not over yet as the Madras High Court has <a href="https://economictimes.indiatimes.com/industry/transportation/airlines-/-aviation/hc-allows-winding-up-plea-against-spicejet-by-credit-suisse-ag/articleshow/88134533.cms">reportedly </a>allowed the winding petition filed by Credit Suisse AG against the airline for a default of $20 million.<br /><br />Further, the court has asked the official liquidator (Credit Suisse) to take over the assets of SpiceJet on the grounds of inability to repay debts by the airline.<br />    <div type="image" title="spiceet" height="900" width="1200" msid="88165010" hostid="261"></div><br />Apparently, Credit Suisse had approached the court to receive the payment on behalf of Switzerland-based <keyword id="1548061" type="General" weightage="20" keywordseo="sr-technics" source="Orion">SR Technics</keyword> from SpiceJet. SR Technics is a maintenance, repair and operations service provider for aircraft, engines and components. <br /><br />Following this, shares of its competitor Interglobe Aviation (Indigo) surged nearly 4% on December 7. <br />    <div type="image" title="indigo 2" height="900" width="1200" msid="88164984" hostid="261"></div><br />SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/news/zoho-is-selling-its-video-calling-app-in-as-many-ways-as-possible/articleshow/88137006.cms">Zoho is selling its video calling app in as many ways as possible</a><br /><br /><a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/india/news/these-are-the-states-with-confirmed-cases-of-omicron-covid-19-strain-in-india/slidelist/88138240.cms">Omicron in India — Maharashtra and Rajasthan have recorded 19 positive cases so far</a>

Indigo stock gains as a plea to shut down SpiceJet has been admitted

<p>The distribution of global wealth is getting more unequal every year, according to a huge study by Credit Suisse.</p><p>The bank has compiled statistics to show that just 0.7% of the world's adult population own almost half of the world's wealth, while the bottom 71% have less than $10,000 (£6,500) each.</p><p>That poorest two-thirds of the population own a 3% sliver of the world's wealth, and inequality is rising according to the analysts at Credit Suisse. </p><p>Here's what they had to say (emphasis ours):</p><p style="padding-left: 30px;">This year, the number of High Net Worth individuals fell for the first time since 2008. However, <strong>the share of wealth owned by HNW individuals continued to rise as it has done every year since 2002,</strong> except for the setback in 2007-2008.</p><p>And here's what that wealth pyramid looks like:</p><p><div class="KonaFilter image-container display-table"><div><div class="image on-image"><p class="source"><span>Credit Suisse</span></p></div><p></p></div></div></p><p>The unequal distribution of wealth is a growing theme in global politics. On Monday, the Nobel Prize for Economics was given to <span>Angus Deaton, a 69-year-old Scottish-American professor of economics at Princeton University, for his work on inequality. </span></p><p><span>According to Credit Suisse, only about 20% of developed world adults fall within the sub $10,000 category, while in parts of India and Aftica it's around 90%.</span></p><p>Meanwhile at the top, the US dominates as the country with the most dollar millionaires. This is partly down to the dollar strengthening this year, making harder for people dealing with other currencies to hit the 1 million mark.</p><p>Europe lost 2 million members of the millionaire club, while the US upped its share of global millionaires from 41% to 46% this year.</p><p>Credit Suisse split out the wealth distribution at the very top of the pyramid.  The US takes the lead again, being home to half of the world's 123,800 ultra-high net worth individuals:</p><p> </p><p><div class="KonaFilter image-container display-table"><div><div class="image on-image"><p class="source"><span>Credit Suisse</span></p></div><p></p></div></div></p><p> </p>    <div class="margin-top">        <h3>NOW WATCH: <a href="http://www.businessinsider.com/lesser-known-excel-shortcuts-select-column-hide-row-insert-date-time-sum-2015-10">6 little-known Excel shortcuts that will impress your boss</a></h3>        <div>            <div>        <div class="ooyala-video-player" data-video-autoplay="false" data-video-id="1iNDR1czqgMVwxzRoXqxJVxgRTPb7ZCU" data-player-variable="ooyalapopvideo" id="ooyalaplayer_popvideo" style="width:1280px;height:720px"></div>        </div>        </div>            </div>

This graphic shows how two-thirds of the world's adults own just 3% of its wealth

<strong><br /></strong><ul><li><strong>With a total wealth of $ 6 trillion in mid-2018, <keyword id="3658" type="LOCATION" weightage="20" keywordseo="India">India</keyword>’s 10% elites own 77.4% wealth. <br /></strong></li><li><strong>Among the total adult population of 850 million, 91% people have wealth lower than $10,000.<br /></strong></li><li><strong>The report points out the increasing <keyword id="1887271" type="PERSON" weightage="20" keywordseo="economic-divide">economic divide</keyword> in India, where poorest 60% are left out with 4.7% wealth in the nation. </strong><br /></li></ul>As one of the world’s fastest growing economies, India’s share of <keyword id="519975" type="ORGANIZATION" weightage="20" keywordseo="Global-Wealth">global wealth</keyword> has been increasing for over a decade now. But just 10% of Indians possess more than three-fourths of the country’s wealth, according to the ninth <a href="http://publications.credit-suisse.com/tasks/render/file/index.cfm?fileid=77A4E912-A32D-8E84-CC8C21144CEE52E2">Global Wealth Report</a> by the <keyword id="48085" type="COMPANY" weightage="20" keywordseo="Credit-Suisse">Credit Suisse</keyword> Research Institute.<br /><br />77.4% of India’s wealth is in the hands of 10% of its population, according to the report, with the richest 1% controlling more than 51% of the wealth. But the concentration of wealth among the top 1% has fallen in comparison to 2017, where the top 1% owned 58.4% of the country’s wealth. In contrast, the poorest section acquiring 60% of the population have less than 5% share in the nation’s wealth. <br /><br />The report also suggests that the number of millionaires in India is on the rise, and is likely to rise from 343,000 in 2018 to 526,000 in 2023.<br /><br />But while India’s wealth is one the rise, it does not do much to alleviate the country’s poverty struggle. India has a total wealth of $ 6 trillion, but a mean wealth of just $7,024 per adult. <br /><br />In fact, a majority of Indians (91%) have less than $ 10,000 in wealth. On the flipside, 404,0000 Indians are among the top 1% of the global wealthy <br /><br />In contrast, just 28.4% of adults in the US fall below $10,000, and just a third of the Chinese population has less than $10,000. <br /><br />The report also uses the <keyword id="1085212" type="PERSON" weightage="20" keywordseo="Gini-coefficient">Gini coefficient</keyword> as a tool to measure the increasing economic disparity in the country.The Gini coefficient measures inequality on a scale of 0-100,where 0 reflects perfect equality. India has witnessed a rise in the Gini wealth coefficient reflecting a rise in inequality, according to the report, with the number rising from 81.3 in 2013 to 85.4 in 2018. <br /><br />Another way to approach wealth equality in a nation is to calculate the difference between mean wealth and median wealth. India’s mean wealth per adult rose at a compounded annual growth (CAGR) rate of 8.3% from 2013 and 2018. But the median wealth per adult was recorded at a CAGR of 4.4%.<br />

More than 77% of India’s wealth is concentrated in the hands of just 10% of its population — and it shows that its economic divide is only widening

<p><div class="KonaFilter image-container display-table"><div><div class="image on-image"><p class="source"><span>REUTERS/Akintunde Akinleye</span></p><p class="caption">A traffic jam in Lagos, Nigeria.</p></div><p></p></div></div>A new Credit Suisse report casts serious doubt on a widely accepted global economic trend.</p><p>Sub-Saharan Africa has experienced solid economic growth in recent years, with the World Bank projecting 5.6% GDP growth across the region in 2016-2017 even when South Africa is discounted.</p><p><div class="KonaFilter image-container display-table float_left click-to-enlarge"><div><div class="image"><a title_source="World Bank" title_caption="" class="zoomin" href="https://static-ssl.businessinsider.com/image/564e39811123143b008b69a3-960/screen shot 2015-11-19 at 4.04.32 pm.png"><span class="sprites click-to-enlarge-icon" title="Click to enlarge"></span></a><p class="source"><span><a href="http://www.worldbank.org/content/dam/Worldbank/GEP/GEP2015b/Global-Economic-Prospects-June-2015-Sub-Saharan-Africa-analysis.pdf">World Bank</a></span></p></div><p></p></div></div>As a World Bank chart demonstrates (see left), sub-Saharan Africa is outperforming the rest of the developing world. </p><p>The region's relative growth has fed some optimistic projections of the size and power of the continent's "middle class." <a href="http://blogs.cfr.org/campbell/2015/11/17/africas-middle-class/">As scholar John Campbell notes</a> in a blog post for the Council on Foreign Relations, a 2011 African Development Bank paper tagged the African middle class at over 313 million members.</p><p>But the growth of the continent's middle class may be a mirage. Campbell writes that according to Credit Suisse's 2015 <a href="http://publications.credit-suisse.com/tasks/render/file/index.cfm?fileid=C26E3824-E868-56E0-CCA04D4BB9B9ADD5">Global Wealth Databook</a>, which was released in October, Africa's middle class may be<span class="s1"> "almost seventeen times smaller than had been previously thought."</span></p><p>As Campbell explains, previous calculations of the size of the African middle class used income or consumption-related criteria. In contrast, Credit Suisse measured middle-class membership based on assets and wealth accumulation.</p><p>The report reasons that middle class membership implies a degree of financial resilience - under its criteria, membership in the middle class means that an economic shock, like the loss of an income stream, won't be enough to automatically change a household's status. Credit Suisse used the purchasing power of the US's sizable middle class as its benchmark, and defined "middle class" households as having somewhere between $50,000 and $500,000 USD in wealth, adjusted for purchasing power by country. Thus, $18,000 in wealth is the report's cutoff for "middle class" status in India; in Switzerland, it's $72,900.</p><p>Going by these criteria, just 18 million people, or 3.3% of Africa's adult population, is middle class, compared to 38.8% of the population in North America and 10.7% in China.</p><p><div class="KonaFilter image-container display-table click-to-enlarge"><div><div class="image"><a title_source="Credit Suisse" title_caption="" class="zoomin" href="https://static-ssl.businessinsider.com/image/564e35e32491f990008b6a99-960/screen shot 2015-11-19 at 3.47.23 pm.png"><span class="sprites click-to-enlarge-icon" title="Click to enlarge"></span></a><p class="source"><span><a href="http://publications.credit-suisse.com/tasks/render/file/index.cfm?fileid=C26E3824-E868-56E0-CCA04D4BB9B9ADD5">Credit Suisse</a></span></p></div><p></p></div></div>Just as alarming as the actual size of Africa's middle class is its limited geographic distribution.</p><p>As Campbell explains, according to Credit Suisse's analysis, a quarter of Africa's middle class lives in South Africa, which is already one of the continent's most developed economies. Some 922,0000 members of the continent's middle class live in Nigeria, which has the <a href="http://www.economist.com/news/leaders/21600685-nigerias-suddenly-supersized-economy-indeed-wonder-so-are-its-still-huge">largest economy of any African country</a>. Credit Suisse also counts the relatively prosperous Arab countries in North Africa in its analysis of the continent, implying that the remaining African middle class is spread thinly throughout the continent's dozens of other states.</p><p>That includes countries with gaudy economic growth or lucrative extractive industries.</p><p>Ethiopia's economy saw <a href="http://www.cnbcafrica.com/news/east-africa/2014/08/20/ethiopia-emerging-market/">a double-digit spike in GDP in 2014</a>. Angola's oil boom has <a href="http://www.newyorker.com/magazine/2015/06/01/extreme-city-specter">turned Luanda into the world's most expensive city for expats</a>. Deloitte <a href="http://www.internationalaccountingbulletin.com/news/deloitte-opens-rwanda-office-4185347">opened an office in Rwanda last year</a>; Zambia has seen the <a href="http://www.worldbank.org/en/country/zambia/publication/zambia-economic-update-exports-growing-diversifying-they-could-do-better">steady expansion of its copper-mining industry</a> over the past decade. But the Credit Suisse data shows that the benefits of this development haven't been evenly distributed.</p><p>As Campbell writes, "T<span class="s1">here is a strong argument that it is primarily the African rich, even super-rich, that have been the primary beneficiaries" of Africa's economic growth, with "</span><span class="s1">only 1.15 million adults or 0.2 percent of African adults [accounting] for 30.6 percent of the continent's wealth," according to Credit Suisse's calculations.</span></p><p><span class="s1"><div class="KonaFilter image-container display-table"><div><div class="image on-image"><p class="source"><span>Thomson Reuters</span></p><p class="caption">A general view of the Angolan capital, Luanda.</p></div><p></p></div></div></span><span class="s1">Radical wealth inequality is perhaps unsurprising for much of Africa. Some of Africa's fastest-growing economies are in countries with authoritarian governments. In Ethiopia, Rwanda, or Angola, long-serving autocrats have a strong incentive to make sure that their small circle of elite supporters are kept happy. Meanwhile, fast-growing democracies like Nigeria have endemic corruption and entrenched business interests that prevent the state from channeling economic growth into effective policy.</span></p><p><span class="s1">But the Credit Suisse data suggests that Africa's strong growth - fueled through natural resources, cheap labor, and investment from China - hasn't been enough to change the underlying economic, social, or political conditions that hamstring development in the first place. The growth of the middle class is an almost nonexistent phenomena throughout most of the continent, meaning it will take something more than just rising GDP to bring broader prosperity to many of the continent's supposedly emerging economies.</span></p><p><span class="s1"><div class="KonaFilter image-container display-table"><div><div class="image"><p class="source"><span>Thomson Reuters</span></p><p class="caption">Rwanda's President Paul Kagame.</p></div><p></p></div></div></span></p><p><span class="s1">The Credit Suisse data has some jarring political implications as well. </span></p><p><span class="s1">Throughout Africa, people are watching the benefits of a supposed economic boom accumulate in the hands of a very small number of corrupt or well-connected people, many of whom have been around for awhile - Angolan President Jose Eduardo Dos Santos has been in power since 1979; in Rwanda, President Paul Kagame, who has ruled the country since the mid-1990s, is attempting to amend the constitution in order to stay in power <a href="http://www.reuters.com/article/2015/11/17/us-rwanda-politics-usa-idUSKCN0T62FR20151117#EtZX79IQzuO5zQEK.97">until as late as 2034</a>.</span></p><p><span class="s1"> That's not a recipe for long-term stability. People across Africa might already be wondering why they're being frozen out of the continent's supposedly growing prosperity - and what kind of political or social changes would be needed in order to reverse course.</span></p>    <div class="margin-top">        <h3>NOW WATCH: <a href="http://www.businessinsider.com/prehistoric-human-migration-from-africa-animated-map-2015-5">This animated map shows how humans migrated across the globe</a></h3>        <div>            <div>        <div class="ooyala-video-player" data-video-autoplay="false" data-video-id="tmbm81dTpO6aBNx_yCsj-WV1tmRLYQly" data-player-variable="ooyalapopvideo" id="ooyalaplayer_popvideo" style="width:1280px;height:720px"></div>        </div>        </div>            </div>

Africa's middle class may be 17 times smaller than we thought

<p><div class="KonaFilter image-container display-table float_right"><div><div class="image on-image"></div><p></p></div></div>According to Credit Suisse's 2014 <a href="https://www.credit-suisse.com/ch/en/news-and-expertise/research/credit-suisse-research-institute/publications.html">Global Wealth Report</a>, there are 128,200 ultra-high net worth (UHNW) individuals in the world. These are the folks whose net worth exceeds $50 million.</p>
<p>That's up from <a href="http://www.businessinsider.com/where-the-worlds-ultra-high-net-worth-live-2013-10">98,700 a year ago</a>.</p>
<p>"The number of HNW and UHNW individuals has grown rapidly in recent years, reinforcing the perception that the very wealthy have benefitted most in the favorable economic climate," Credit Suisse analysts write.</p>
<p>"Between 2008 and mid-2014, mean wealth per adult grew by 26%; but the same period saw a 54% rise in the number of millionaires, a 106% increase in the number with wealth above $100 million, and more than double the number of billionaires."</p>
<p>So, where can we find the world's 0.0017994134%?*</p>
<p>Most of them can be found in the US. Here's Credit Suisse:</p>
<p style="padding-left: 30px;">"Among individual countries, the United States leads by a huge margin with 62,800 UHNW adults, equivalent to 49% of the group total. This represents an increase of 9,500 compared to mid-2013, an astonishing rise for a single year - more than the total number of UHNW residents in China, which occupies second place with 7,600 residents (6% of the global total). the United Kingdom gained the second largest number of UHNW individuals (up 1,300 to 4,700) consolidating fourth place, behind Germany (5,500), but ahead of France (4,100). Taiwan (2,000) and Korea (1,900) each added about 550, while Brazil (1,900), Canada (2600) and Hong Kong (1,500) gained 200 apiece. the numbers for Russia (2,800) and India (1,800) were almost unchanged."</p>
<p>"[L]ittle can be deduced about inequality trends from the fact that the number of millionaires and billionaires is growing faster than average wealth," the analysts argue. "[T]his is almost certain to hap pen when wealth is growing, regardless of whether inequality is rising or falling."</p>
<p><div class="KonaFilter image-container display-table click-to-enlarge"><div><div class="image"><a title_source="Credit Suisse" title_caption="" class="zoomin" href="https://static-ssl.businessinsider.com/image/543c5d9469bedda6389ac6d4-960/screen shot 2014-10-13 at 6.51.29 pm.png"><span class="sprites click-to-enlarge-icon" title="Click to enlarge"></span></a><p class="source"><span>Credit Suisse</span></p></div><p></p></div></div>*This percentage is based on the <a href="http://data.worldbank.org/indicator/SP.POP.TOTL">World Bank's 2013 world population estimate of 7,124,544,000</a>.</p>

Here's Where The World's Richest 0.0017994134% Live

<br /><ul><li>A report by <keyword id="48085" type="COMPANY" weightage="20" keywordseo="Credit-Suisse">Credit Suisse</keyword> indicates that non-performing loans from the <keyword id="6354553" type="COMPANY" weightage="20" keywordseo="real-estate">real estate</keyword> sector are likely to rise this quarter.</li><li>This is largely due to the drying up of refinancing options for real estate developers as well as subdued property sales.</li><li>In July last year, Bloomberg reported that Indian real estate developers were on the hook for $20 billion worth of loans to commercial lenders<br /></li></ul>After the recent <a href="https://www.businessinsider.in/gst-cut-on-real-estate-may-relieve-pain-temporarily/articleshow/68146057.cms">tax relief granted</a> to India’s real estate developers by the Indian government, the sector’s prospects for the coming financial year looked upbeat. <br /><br />However, a report published this week, by Credit Suisse has given investors a reality check for the immediate term.<br /><br />The report, entitled “The second wave”, indicates that non-performing loans from the real estate sector are likely to rise this quarter owing to the drying up of refinancing options for real estate developers.<br /><br />This is primarily due <a href="https://economictimes.indiatimes.com/industry/services/property-/-cstruction/debt-refinancing-deals-slow-down-in-real-estate-sector/articleshow/66288130.cms">to the cash crunch</a> faced by non-banking financial companies as they navigate the fallout of the IL&amp;FS default crisis. <br /><br />The final quarter of every financial year usually accounts for more than a third of housing finance companies’ loan disbursements, but given the liquidity crunch, there will be a significant slowdown in credit to the real estate sector. <br /><br />As a result, the next few quarters will likely see a dip in construction, which will cause further cash flow problems for real estate developers that need to service their loans.<br /><br />Another reason for the rise in <keyword id="142154" type="PERSON" weightage="20" keywordseo="bad-loans">bad loans</keyword> is the subdued demand for property. The <keyword id="6354679" type="DEFINITION" weightage="20" keywordseo="gst">GST</keyword> tax cut will only be applicable from April 1st. So for the rest of the financial year, property sales are expected to be sluggish, exacerbating the burden of unsold inventory borne by realtors. <br /><br />In July last year, Bloomberg <a href="https://www.bloomberg.com/news/articles/2018-07-24/housing-downturn-puts-20-billion-in-indian-bank-loans-at-risk">reported </a>that Indian real estate developers were on the hook for $20 billion worth of loans to commercial lenders - a category that excludes shadow banks. This was made worse by a near 40% slump in home sales since 2014. <br /><br />Credit Suisse concluded the report by saying that it remained “cautious” on lending to the sector in the near term, especially to housing finance companies like Indiabulls and L&amp;T Finance. <br /><br />The surge in <keyword id="127693" type="ORGANIZATION" weightage="20" keywordseo="NPAs">NPAs</keyword> might be less than initially expected, however. Earlier this week, the National Company Law Appellate Tribunal (NCLAT) that banks did not have treat <a href="https://economictimes.indiatimes.com/industry/banking/finance/dont-classify-ilfs-accounts-as-npas-sans-nod-nclat/articleshow/68161345.cms">IL&amp;FS loans as bad loans</a> until a specific court order to do so. <br /><br />While this grants banks a temporary relief, experts <a href="https://www.livemint.com/market/mark-to-market/nclat-order-on-il-fs-rewards-imprudence-ignorance-at-banks-1551217592346.html">said</a> that it amounted to a whitewashing of the problem. The Reserve Bank of India is expected to challenge the order. <br /><br /><br />SEE ALSO:<br /><br /><a href="https://www.businessinsider.in/gst-cut-on-real-estate-may-relieve-pain-temporarily/articleshow/68146057.cms">Indian real estate builders welcome GST relief but opinions are divided</a><br /><br /><a href="https://www.businessinsider.in/as-indias-shadow-banks-brace-for-a-tough-2019-the-central-bank-and-government-will-try-and-prevent-a-repeat-of-the-ilfs-crisis-by-solving-the-data-problem/articleshow/67419846.cms">As India’s shadow banks brace for a tough 2019, the central bank and government will try and prevent a repeat of the IL&amp;FS crisis by solving the data problem</a><br />

You Searched For "Credit Suisse India" and got 13 results

Credit Suisse is looking to hire over 1,000 IT employees in India as it battles controversy at home

BI India Bureau

Rural Rising In India: Will Villages Dominate The Consumer Market?

Preetam Kaushik

Whatsapp, Skype might cut telcos voice revenues by 50 %

BI India Bureau

Only 15% of women in Indian boardrooms — new study says it’s the third lowest in Asia Pacific

Prerna Sindwani

Credit Suisse just went ‘overweight’ on India⁠ — says the pandemic is “no longer a factor”

Sriram Iyer

Here's where the world's $263 trillion worth of stuff is

Andy Kiersz

Rupee falls 10 paise to 82.75 against US dollar in early trade

PTI

Indigo stock gains as a plea to shut down SpiceJet has been admitted

Bhakti Makwana

This graphic shows how two-thirds of the world's adults own just 3% of its wealth

Ben Moshinsky

More than 77% of India’s wealth is concentrated in the hands of just 10% of its population — and it shows that its economic divide is only widening

BI India Bureau

Africa's middle class may be 17 times smaller than we thought

Armin Rosen

Here's Where The World's Richest 0.0017994134% Live

Sam Ro

India's real estate bad loans have nowhere to go but up for now, according to a major Swiss bank

Dilsher Dhillon

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