Business & Economy Current Affairs 2018

Latest Business & Indian Economy Current Affairs 2017 for UPSC Exams, Bank Exams, Civil Services, SSC and other Competitive Exams. Latest developments in Business and Finance Industry of India and world 2017 all important national updates in Banks and events for the year 2017.

Yes Bank lists $600 million MTN bond on India INX

India’s fifth largest private sector lender Yes Bank has listed $600 million bond issued under its maiden $1 billion MTN programme on Global Securities Market (GSM) of India INX. The bank will use proceeds from this bond to fund the bank’s IFSC Banking Unit (IBU) in Gift City and expand IBU’s rapidly growing business opportunities.

Key Facts

Yes Bank’s MTN (medium term note) bonds issuance has received overwhelming response from international investors. It has been already listed on London Stock Exchange International Securities Market (LSE ISM) and Singapore Exchange Securities Trading Limited (SGX).

India International Exchange (India INX)

Indai-INX is India’s first international exchange at IFSC Gujarat International Financial Tech (GIFT) City, Gandhinagar (Gujarat). It is wholly-owned subsidiary of Bombay Stock Exchange (BSE), through its global bourse. It is one of world’s most advanced and fastest trading technology platforms with turn-around time of 4 micro seconds. It operates for 22 hours a day allowing international investors and NRIs to trade from anywhere across globe. It trades in equity derivatives, currency derivatives, commodity derivatives including Index and Stocks. It also offers depository receipts and bonds.


Mumbai 12th richest city globally: Report

India’s financial capital Mumbai, with a total wealth of US $950 billion was ranked 12th richest city globally in the report published by New World Wealth.

In the report, total wealth, refers to private wealth held by all individuals living in each city. It includes all their assets (cash, equities, property, business interests etc.) less any liabilities. Government funds are excluded from it.

Key Facts

The list of 15 wealthiest cities was topped by New York with total wealth of US $3 trillion. New York is home the two largest stock exchanges in the world. London was ranked second ($2.7 trillion) followed by Tokyo (3rd, $2.5 trillion), San Francisco Bay area (4th, $2.3 trillion), Beijing (5th, $2.2 trillion), Shanghai (6th, $2 trillion), Los Angeles (7th, $1.4 trillion), Hong Kong (8th, $1.3 trillion), Sydney (9th, $1 trillion), Singapore (10th, $1 trillion) and Chicago (11th, $988 billion), Toronto (13th, $944 billion), Frankfurt (14th, $912 billion) and Paris (15th, $860 billion). Among the 15 richest cities listed, San Francisco, Beijing, Shanghai, Mumbai and Sydney are fastest growing in terms of wealth growth over the past 10 years,

According to report, Mumbai is economic hub of India. It is home to Bombay Stock Exchange (BSE), the 12th largest stock exchange in the world. It houses major industries which include financial services, real estate and media. It is expected to be the fastest growing city (in terms of wealth growth over the next 10 years). Mumbai also features among top 10 cities in terms of billionaire population. The city is home to 28 billionaires, individuals with US $1 billion or more in net assets.