Business Latest News

  According to Knight Frank report, art emerged as the top investment avenue Art emerged as the top investment avenue for ultra-high net worth individuals (UHNWIs) in 2021, followed by jewellery and vintage cars, as individuals steered towards passion-led investments, suggest the findings of the latest Knight Frank Wealth Report 2022. UHNWIs are individuals with a net worth of $30 million and above. Among asset classes, investment preference in luxury handbags and wines slipped from first to fifth and seventh, respectively, in 2021. According to Knight Frank’s luxury investment index (global), art provided a 13 per cent return in a 12-month period, and 75 per cent over 10 years.  "11% of the investable wealth of Indian UHNWIs is allocated towards passion-led investments, as against the global average of 16 per cent. About 29 per cent of Indian UHNWIs spent more on passion investments in 2021. Joy of ownership scored above investment returns," the report said. “Equity markets

The Ukraine war's impact on global supply chains could force India's central bank to raise its inflation forecast, but may leave little scope for it to tighten monetary policy, according to economists The impact of the war in Ukraine on global supply chains could force India’s central bank to raise its inflation forecast, but may leave little scope for it to tighten monetary policy amid a deteriorating global growth outlook, according to economists. The surge in edible and crude oil prices are bound to feed into headline inflation, which has already breached the upper tolerance limit of the Reserve Bank of India’s 2%-6% target range. While the RBI has blamed supply side shocks for the spike, higher prices will nevertheless eat into disposable incomes of consumers, the backbone of the economy that has yet to fully start spending after the pandemic. “This is the policy maker’s nightmare -- risk of persistent inflation, alongside a very uneven and unsatisfactory growth,” said Anan