Thursday, September 10
HSBC Holdings Plc’s Swiss private bank is ending relationships with wealthy Middle Eastern clients, including many with assets exceeding $100 million, as the bank seeks to lower its exposure to individuals it deems high-risk, according to people familiar with the matter.More than 1,000 clients from Saudi Arabia, Lebanon, Qatar and Egypt are among those being told they can no longer bank with HSBC’s Swiss wealth management business, the people said, asking not to be identified discussing an ongoing process. Some clients have already started to be informed and over the next few months will receive closing letters advising them they could consider transferring to other jurisdictions, the people said.“HSBC announced plans in October last year to reshape the Group to accelerate strategic
This year's Godel Prize winner, Bengal theoretical computer scientist and IIT Kanpur alumnus Eshan Chattopadhyay, said that the recognition only reinforces his commitment to curiosity-driven research as he is open to taking greater risks and pursuing ideas stretching across disciplines.Speaking to PTI over the phone from Ithaca, New York, in the United States, Chattopadhyay, an associate professor of Computer Science at Cornell University, expressed interest in broader outreach, hoping to make fundamental research more accessible."Research has always been a curiosity-driven pursuit for me, and receiving this award is truly an honour. It reinforces the importance of doing fundamental work, but it doesn't really change how I approach research. Theoretical computer science is about understand
Foreign Institutional Investors (FIIs) continued their selling spree in August, offloading equities worth Rs 25,564 crore through the exchanges up to August 23. This took the total equity selling by FIIs this year up to that date to Rs 1,57,440 crore, according to market data.FIIs have not only been sellers in equities but have also trimmed positions in the bond market.According to VK Vijayakumar, Chief Investment Strategist at Geojit Investments Limited, one of the key drivers behind this sustained selling is India’s relatively higher valuations compared with other global markets.He observed, “Since FIIs continue to invest through the primary market/ QIP route, the principal reason for selling through the exchanges is the high valuations in India relative to other markets, particularl
A virtual annual general meeting of GKB Ophthalmics, a microcap firm in the medical equipment segment, has gone viral on social media after a shareholder who reportedly owns just one share launched a strongly worded attack on the company’s management.The video, widely circulated by several X users in their posts, shows investor Abhishek Kalra confronting the company’s leadership over performance and governance issues.According to the video, Kalra began by acknowledging the company’s officials for giving him a chance to speak but quickly shifted to expressing frustration at being allotted only one minute to raise his concerns.His remarks then grew more forceful as he addressed the board and specifically targeted the company’s Managing Director, Krishna Gopal Gupta.<blockquote cla
