Bhubaneswar to Abu Dhabi flight service to commence from June
The flight service will be launched under the Building Management of Aviation Assets and Network (B-MAAN) scheme.
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Time of India
4 days ago
- Time of India
43% of Indian HNIs save less than 20% of their income, says Marcellus–D&B Wealth 2025 survey
A significant proportion of India's high-net-worth individuals ( HNIs ) are falling short on financial discipline and structured planning despite their rising affluence and ambitions, according to a new survey released by Marcellus Investment Managers in collaboration with Dun & Bradstreet on Wednesday. The India Wealth Survey 2025, which covered 465 households across 28 cities, found that 43% of HNIs save less than 20% of their post-tax income, even as they aim for early retirement, entrepreneurship, and financial security for their children. Moreover, 14% of respondents do not maintain an emergency fund, and over half allocate more than 20% of their wealth to real estate, highlighting a heavy preference for physical assets despite increasing awareness of market-linked investments. A shift towards goal-oriented investing The report reveals a striking disconnect between ambition and action among India's wealthy. While 82% believe professional financial planning improves their chances of meeting long-term goals, a majority continue to operate without sufficient diversification or tailored asset allocation. For instance, among households with net worths above Rs 10 crore, 63% save over 30% of their income, yet only 17% allocate more than 30% to equities. Meanwhile, 48% park more than 30% in real estate and 65% allocate 10-20% to gold and silver. 'Financial discipline and thoughtful asset allocation are the cornerstones of a solid financial foundation, essential for fulfilling future goals,' said Pramod Gubbi, Co-Founder, Marcellus Investment Managers. 'India's HNIs are no longer passive; they're seeking a structured approach and professional assistance to help realise their life goals.' The study also showed that 76% of ultra-HNIs are aware of the investment corpus required for a comfortable retirement, yet many still struggle with low diversification. About 51% of HNIs said they wanted more help with diversification, 38% sought personalised asset allocation, and 32% were looking for goal planning support. The case for advisory-led wealth management Saurabh Mukherjea, Co-Founder, Marcellus Investment Managers, commented: "As India steps confidently onto the global economic stage, its wealthy households are embracing greater sophistication and clarity in their financial journeys. They are seeking expert guidance, not just to manage their wealth, but to bring structure, discipline, and purpose to their long-term financial aspirations." Live Events The survey suggests that India's evolving wealthy class is at an inflection point. 'It's no longer about standard products or investment returns; it's about tailored solutions and relationships built on transparency and trust,' said Manish Hemnani, Co-Founder, Marcellus Investment Managers. As the number of affluent Indian households grows, the need for goal-driven, transparent financial advisory services will likely deepen. The Marcellus–D&B Wealth Survey 2025 points to a maturing wealth mindset—one that's ready to replace instinctive financial behaviour with intentional, professionally guided planning. Also read | Rs 43,000 crore selloff by promoters! Insider exits flash warning sign for Nifty bulls
Mint
4 days ago
- Mint
UK shares rise as US exempts Britain from additional metal tariffs
FTSE 100 up 0.3%, FTSE 250 rises 0.5% UK services sector returns to growth, PMI survey shows UK exempt from US doubled tariffs on steel and aluminum imports B&M drops after annual sales disappoint June 4 - London shares edged higher on Wednesday after Britain secured an exemption from the United States' doubled tariffs on steel and aluminum imports, easing ongoing trade tensions that have unsettled markets throughout much of the year. As of 0932 GMT, the blue-chip FTSE 100 was up 0.3%, and the midcap FTSE 250 rose 0.5%. The U.S. announcement, which exempts British steel and aluminum from a doubling of tariffs to 50%, came in a proclamation signed by U.S. President Donald Trump on Tuesday that raises metals tariffs for other countries from June 4. "UK markets have made another step in the right direction this investors look eager to shrug off U.S. trade drama," said Matt Britzman, senior equity analyst, Hargreaves Lansdown. Miners of both industrial and precious metals gained over 1% as gold and copper prices stabilised on the day. DiscoverIE topped the midcap index with 11.2% gains after the designer and manufacturer of customised electronics posted a 4% rise in 2025 preliminary adjusted pretax profit. On the flip side, discount retailer B&M fell 6.2% to the bottom of the midcap index after reporting annual sales below expectations, as waning consumer demand and persistent inflation hampered its UK operations. Meanwhile, the S&P Global PMI data showed that Britain's services sector returned to tepid growth in May after fears about Trump's tariffs caused it to shrink in April. Investors kept their focus on the pace of trade negotiations and the lack of significant progress, as Wednesday is the deadline for U.S. trading partners to submit their proposals to avoid Trump's "Liberation Day" tariffs taking effect in early July. Nonetheless, British equities have rebounded from their April lows after the country clinched a limited trade agreement with the U.S. earlier in May. The blue-chip FTSE 100 is now sitting about 1% away from its all-time highs. "The premier index is seemingly gathering an array of international investor admirers, given the stability and maturity of its constituents," said Richard Hunter, Head of Markets at interactive investor. This article was generated from an automated news agency feed without modifications to text.
Time of India
5 days ago
- Time of India
'H1-B scam decoded': X post slams Costco for their bias for foreign labor
A job posting for Costco, the retail chain, has gone viral as social media users pointed that US companies are now not even hiding that they want H-1Bs over Americans, as that is cheaper for them. Tired of too many ads? go ad free now "If hired, you will be required to provide proof of authorization to work in the United States. In some cases, applicants and employees for selected positions will not be sponsored for work authorization, including, but not limited to H1-B visas," the job posting said. A social media user decoded the post and said it clearly wants foreign workers who already have work authorization like a green card which allows the company to avoid visa sponsorship costs. But the company is pretending that Americans can also apply, conforming to the corporate America's playbook that they posted jobs publicly, rejected Americans by offering 30 per cent below market rate to import cheap labor. The post comes as US tech workers are crying foul over job losses that they claim are going to Indians and Chinese. The H-1B visa program allows US companies to hire foreign labor at a cheaper price. President Donald Trump earlier said he was not against the H-1B visa program as many H-1Bs work at Mar-a-Lago. But MAGA activists have been pushing the administration to stop importing foreign labors while the administration is already cracking down on foreign students, illegal immigrants. The USCIS revealed that 120, 141 H-1B visa applications have been selected for 2026. This is the lowest number since 2021 but MAGA supporters are campaigning for H-1B to be completely removed. Tired of too many ads? go ad free now "Another greedy company @Costco want Amercian Money and profits but do not want Americans to work for them in corporate. They want slave wages and those who will break all morality clauses and guidelines for the master of their money and employment in America," one wrote, replying to the Costco post.
