Citigroup

Citigroup CEO visits Chennai, discusses about GCC landscape in India

Citigroup CEO Jane Fraser along with top management officials visited the company's Citi Solutions Centre here and held discussions about the landscape of Global Capability Centres (GCC) in the country, the company said on Friday. On her maiden visit to Chennai and to any Citi Solutions Centre in the country, Fraser during her brief visit was engaged with teams across operations and technology on their projects and capabilities managed out of the Citi Solutions Centre. "Jane's visit to the Citi Solutions Centre in Chennai was her first to any CSC in India. For more than a decade, our CSCs have extended stellar support to Citi businesses in more than 80 countries (of Citi's total footprint in 95 countries," Citi India CEO Ashu Khullar said in a company statement. "This visit was a reaffirmation of Citi's focus on capturing the India opportunity by growing its institutional clients businesses and building scale and expertise with the exceptional talent that we have across Citi in ...

Indian origin Anand Selva appointed chief operating officer of Citigroup

Heading consumer banking in India in 2011-2014

Citi names Indian origin Selva as COO to lead risk management overhaul

Veteran company executive previously handled roles in consumer banking, retail, cards

Citigroup forecasts 'less hard' landing for world economy this year

Citigroup economists on Wednesday raised their global growth forecast slightly and see a "less hard" landing but still expect the world's economy to grow at the slowest pace in 40 yearsq

Citigroup Inc's wealth unit halts margin loans on Adani securities

The bank said in the memo it has decided to remove lending value "to all Adani issued securities with immediate effect"

Prefer cheaper European stocks to US equities: Citigroup strategists

With recession now also looming in America, investors are turning their back on expensive mega caps and focusing on Europe's cheap valuations

Citigroup cuts India's current account deficit forecast to below 3% of GDP

Net exports of services rose 35% to $34.5 billion in the second quarter of the current fiscal

Citi expects growth to slow below 2% in 2023 amid challenges from Covid

Citigroup on Wednesday forecast global growth to slow to below 2% next year, echoing similar projections by major financial institutions such as Goldman Sachs, Barclays, and J.P. Morgan

A banker turned tech maven: Meet Sandhya Devanathan, Meta India head

Devanathan takes over the India operations after the previous incumbent, Ajit Mohan, resigned to join social media company Snap Inc

TPG Capital to sell Nykaa shares worth Rs 1,000 cr via block deal on Friday

American private equity firm TPG Capital is likely to sell shares of Nykaa worth Rs 1,000 crore through a block deal

Invesco sells 5.5% stake in Zee for Rs 1,396 cr at Rs 263.7 a share

Morgan Stanley, Citigroup, Bank of America, Abvendus, ICICI Prudential MF were some of the buyers

Reliance Industries, Jio in talks to raise funds through foreign loans

The loans, which are likely to have a five-year term, are anticipated to be priced 130-150 basis points higher than the Secured Overnight Financing Rate (SOFR), a benchmark rate used around the world

Revlon lenders to seek rehearing after Citigroup's $500 mn victory

Some of the Revlon Inc. creditors who were accidentally sent more than $900 million by Citigroup Inc. asked a federal appeals court for a rehearing, after it ruled that they had to give the money back

Citigroup sets India as high priority market amid rising China risks

The nation saw a record $82 billion in merger and acquisition deals in the second quarter, defying a slump elsewhere

Citigroup's epic $500 mn blunder ends in legal victory for the bank

A federal appeals court saved Citigroup Inc. from an epic blunder, rejecting a ruling that Revlon creditors could keep more than half a billion dollars the bank accidentally sent them

Day after Q1 GDP data, a spate of forecast cuts by banks, institutions

Moody's cut its forecast to 7.7%, from 8.8%, citing dampening economic momentum in the coming quarters on rising interest rates, uneven monsoon, and slowing global growth

Citigroup shares surge over 10% on profit beat, core business strength

The bank's profit fell to $4.5 billion, or $2.19 a share, in the quarter ended June 30, from $6.2 billion, or $2.85 a share, a year earlier

Economists see waning urgency for India's RBI to go for large hikes

Citigroup Inc. economists expect a 35 basis-point increase in borrowing costs at the Reserve Bank of India's next Monetary Policy Committee meeting in August, a move also predicted by Barclays Plc

Citigroup warns crude oil may fall to $45 a barrel by 2023-end

That outlook is based on an absence of any intervention by OPEC+ producers and a decline in oil investments

Recessions in advanced economies may help cool inflation in India

Recessions in advanced economies may benefit India in a "perverse way" as a moderation in global commodities prices will help cool domestic inflation, according to Citigroup Inc