By Bill Black, the author of The Best Way to Rob a Bank is to Own One and an associate professor of economics and law at the University of Missouri-Kansas City. Originally published at New Economic Perspectives
MUMBAI: Mumbai-based arbitration and litigation law firm Advani & Co has entered in 'best friend practice' agreement with S Rambhaktaa Advisors, a legal online M&A advisory startup founded by former general counsel of Escort Group Ramaswamy. "Advani & Co and S Ramaswamy will jointly advise clients on M&A, Private Equity (PE) investments and other corporate finance related matters," said a senior person of Advani & Co who is privy to the development.
As if the banks hadn’t already done enough to harm small business growth over the past few years, the research also suggests bank charges are starting to cause issues.
Respondents were polled on attitudes to banks in several key areas, with ratings from 1 to 5 – 1 being no issue to 5 being seriously damaging, with anything over 3 classed as harmful to their business.
MUMBAI: Mumbai-based private lender Home First Finance Company is looking to sell 30% stake for Rs 250 crore to fund operations, valuing the company at Rs 850 crore, people aware of the matter said. Founded by former Mphasis chairman Jaithirth Rao and Bank of Baroda managing director PS Jayakumar, the Mumbai-based company provides loans of Rs 1-30 lakh, mostly to firsthome buyers. "HFFC is in the process of raising capital for its growth. We are in discussions with potential investors," said Manoj Viswanathan, chief executive of Home First Finance Company.
SHANGHAI: China's benchmark Shanghai stock index was down 8 percent on Wednesday morning as additional government moves failed to shore up the tumbling market, dealers said. The Shanghai Composite Index slumped 6.72 percent, or 250.34 points, to 3,476.78. The Shenzhen Composite Index, which tracks stocks on China's second exchange, dropped 4.15 percent, or 80.18 points, to 1,852.65.
By Tatiana Didier, Research Economist, Office of the Chief Economist for Latin America and the Caribbean, World Bank, and Sergio Schmukler, Lead Economist at the World Bank. Originally published at VoxEU.