Saturday, 21st November 2009

 

25 November 2008 - Press Briefing

Wealthy Indians likely to continue lavish spending

The market for luxury cars, art and wine in India is still expected to thrive despite a massive decline in the net personal fortune of the country’s billionaires, according to a Reuters report.

While overall car sales fell almost 7% last month on an annualised basis, Mercedes-Benz has already achieved its full-year target with a 47% growth, while BMW's sales have more than doubled.

The forthcoming Osian's auction of modern and contemporary Indian art and craft is also likely to attract strong interest from the rich, chairman Neville Tuli said.

Read the original

Most Read

  1. Colonel Gaddafi's son buys £10m London property
  2. Comment: Prince William seals the ascent of hedge funds
  3. How The Rich Are Different: Recession Hits Investment Psyche
  4. Citi Private Bank poaches senior Merrill executive
  5. Lombard Odier hires from Coutts

Brummel

Relocation, relocation, relocation

Banks have never been shy of firing staff at the merest whiff of a downturn. First the fat, then the muscle and finally the bone. In the past, cuts have been so deep that firms have found it hard to benefit when the markets rebounded, paying over the odds to restaff at speed. Such wild oscillations in staffing numbers are known as “doing a Merrill”.

Rich Monitor

Diary: Utopia for Yacht Lovers

Looking to get more from your yacht? Why not share it with others?

More from Rich Life

  1. KKR's deal maker and truffle hunter
  2. Diary: Utopia for Yacht Lovers
  3. Colonel Gaddafi's son buys £10m London property
  4. London & Stamford profits up but still 'cautious'
  5. How The Rich Are Different: Recession Hits Investment Psyche

Related Content

  1. What the Butler saw: a large pay cheque
  2. Underwriting luxury at Montblanc

2nd Floor, Stapleton House, 29-33 Scrutton Street, London, EC2A 4HU

Tel: +44 (0) 20 7309 7788

Company No 3089347