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Indian economy likely to grow at 6.2% next fiscal: Report

Despite the rising external headwinds, India is likely to grow 6.2 per cent next fiscal against a consensus of 6.3 per cent to USD 3.9 trillion from USD 3.57 trillion in FY24 on a likely 7 per cent growth, as consumption growth is likely to stabilise at 4.7 per cent from 4.5 per cent in FY24, Tanvee Gupta-Jain, the UBS India chief economist, said in a note. ....

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UBS names India, South Korea, others as 'slow' to approve Credit Suisse deal

UBS Group has identified South Korea, India, Ireland, and Saudi Arabia as slow in granting regulatory approvals required for its takeover of Credit Suisse, according to an internal document. The document, circulated to global staff, stated that non-cooperative regulators could jeopardize the merger and other transactions, potentially leading to asset sales and business winding down. UBS completed the takeover in June but still requires approvals from regulators in markets where both banks operate. ....

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UBS seeks to hire several private bankers to serve India's rich

UBS is aiming to create more products to compete for managing the wealth of rich Indians. The bank plans to add at least seven relationship managers to bring its total advisory strength in India to around 25. UBS is also employing two senior executives from rival firms in portfolio management services, who develop India-specific products. ....

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