By Dinesh Nair DUBAI (Reuters) - Sovereign wealth funds in the Gulf Arab region are raising their allocations to private equity investments at a faster rate than other types of investment, U.S. fund manager Invesco <IVZ.N> says in a new study. "Contrary to popular perceptions these vast state funds are not piling into global property and global infrastructure projects," Nick Tolchard, head of Invesco Middle East said.

By Sumeet Chatterjee (Reuters) - Standard Chartered has agreed to buy the Indian wealth management unit of Morgan Stanley, helping the British bank expand its private banking business in Asia's third-largest economy. The sale underscores growing consolidation of Asia's wealth management industry, which is struggling with rising regulatory costs and wafer-thin advisory fees.

India faces at least "a one-in-three" chance of losing its prized sovereign grade rating, global ratings agency Standard and Poor's has warned, amid new threats to economic growth and reforms. The announcement surprised the finance ministry which had been pitching for a ratings upgrade, saying the government has taken strong steps to improve India's public finances, promote investment and revive growth.

Commodity prices mostly weakened this week, hit by a stronger dollar and falling demand for raw materials amid persistent concerns about the state of the troubled global economy, according to analysts. Figures published Wednesday revealed that the dogged recession across the eurozone has snared key economy France. In Brussels, French President Francois Hollande tipped 'zero' growth on the national level, blaming an EU-wide, German-led austerity trap -- and hitting out at banks for holding back on lending.