City Bangalore Financial News

Tanvi Patri from Odisha has cemented her status as one of India's most promising badminton prodigies by clinching the girls' singles title at the U-15 Badminton Asia U-17 & U-15 Junior Championships in Chengdu, China, the country where she first honed her skills in the sport. Patri capped off a phenomenal week with a superlative performance, defeating Vietnam's second seed Thi Thu Huyen Nguyen 22-20, 21-11 in a 34-minute final, offering a glimmer of hope after Indian badminton's recent struggles at the Paris Olympics. «I'm feeling good after winning the title,» Patri told PTI from Chengdu. «I had expected to win, and I'm happy I could do that. I've been training at the Prakash Padukone Badminton Academy (PPBA) in Bangalore for the last two years.»

regulator, the Securities and Exchange Board of India (Sebi) will have a new look as two members exit after the end of their respective terms to make way for two incoming candidates. The Sebi chief, while also a full-time member of the board, reports to it. IIM Bangalore professor V Ravi Anshuman and bureaucrat Manoj Govil, who joined the board in 2019 and 2022, respectively, are exiting. The former's five-year tenure with the regulator has ended and the latter's role is being reassigned from corporate affairs secretary to expenditure secretary at the Centre.

On Tuesday, key areas affected by the waterlogging included the outer ring road towards Hebbal Circle, Kempapura towards the Airport, Veerannapalya Signal towards Hebbal Circle, and the down ramp of the Hebbal flyover towards the Airport. In these areas, slow-moving traffic was reported. Many commuters were stuck for hours near the Hebbal flyover during peak traffic hours.

Kapil Sibal and government's second topmost lawyer Tushar Mehta. A similar exchange was witnessed on Tuesday when SC ordered CISF security for doctors at RG Kar hospital. Sibal, appearing for the West Bengal government, remarked that it should be made clear that the onus of doctors' security will then be on CISF and not the state police.

gaming and animation in India is bright and Bengaluru is poised to be at the forefront, said Karnataka Minister Priyank Kharge on Monday. The government is committed to supporting startups and SMEs in the Animation, Visual Effects, Gaming, Comics, and Extended Reality (AVGC-XR) sector and establishing the state as a global hub for AVGC, he said. «Government is ready with funds and is willing to partner with anyone. In fact, I am seeing the AVGC industry as a foot in the door for electronics manufacturing for gaming accessories. So, it has the potential to create a parallel economy with respect to manufacturing as well,» said Kharge, who holds the portfolio of Information Technology. The minister unveiled the theme and poster for GAFX 2025, the 6th edition of one of India's most eagerly awaited gatherings in the gaming, digital media, and entertainment industries, which will be held between February 27 and March 1, 2025.

Triveda Capital, a Sebi-registered alternative investment fund (AIF) which aims to raise ₹250 crore, has reached a first-close of ₹80 crore, said Ravindra Pai, managing director of Century Real Estate Holdings and partner at the newly launched fund. The investment was led by Ranjan Pai, chairman of the Manipal Education and Medical Group. The maiden fund targets an asset under management of $1 billion over the next five years. Of the total fund size, Century Real Estate Holdings' family office has committed 15%. «We have identified the first investment of a 30-acre plotted development project near the airport. We will invest in in-house under-construction and third-party plotted development projects,» said Ravindra Pai. Triveda Capital is raising a ₹200-crore AIF fund to invest in plotted development projects, with a ₹50 crore green shoe option.

metro projects in Bengaluru, Pune, and Thane, aiming to alleviate traffic congestion and enhance transportation efficiency.

ACI) the highest Level five accreditation, officials said on Friday. Bangalore Airport has made a remarkable 95.6 per cent reduction in Scope 1 and 2 Greenhouse Gas (GHG) emissions, attaining the highest emission elimination by an Indian airport, achieved seven years ahead of the initial target of 2030, they said. The accreditation comes into effect from May 5, 2024. «BLR Airport has made significant strides in its decarbonisation journey and set new benchmarks by transitioning to 100 per cent renewable electricity and implementing initiatives focusing on sustainable mobility and green infrastructure.

₹27 lakh for the batch of 2022-24, unchanged from the previous 2021-2023 group, but higher than ₹26.5 lakh for the students of 2020-22 session. The institute, which last worked upon its course in 2020, is again reviewing it to improve engagement with companies so that placements do not suffer, "irrespective of the markets", said Chatterjee. The campus placement reports of some of the older IIMs also show a dip in the median compensation.

IIT Madras leading the list of best institutes in the country, aside from engineering schools, while the Indian Institute of Science, Bangalore has led the university rankings, followed by JNU and Jamia Milia Islamia University. IIM A again leads management rankings, while Hindu college leads college rankings, followed by Miranda House and St Stephens college. 10,885 higher education institutions participated in the NIRF 2024, and the research showed that the top 100 institutes conduct most Indian R&D. DETAILS: The IITs have eight of the top ten rankings. The only non-IITs in the top ten are AIIMS (ranked seventh) and JNU (10th). AIIMS leads the medical school rankings, while National Law School in Bangalore tops the law school list. Anna University is at the top of the state public university rankings.

Ministry of Education announced the National Institutional Ranking Framework (NIRF) 2024 on Monday. The Indian Institute of Technology (IIT) Madras ranked first in the National Institutional Ranking Framework (NIRF) 2024, becoming the top ranked institution for the sixth consecutive year. Indian Institute of Science (IISc), Bengaluru has been ranked as the best university. IIT-Madras is also the best-ranked engineering college in the country for the last nine years.

sports teams in India saw an up to threefold surge in earnings in 2023-24, with cricket dominating the table, according to the latest filings of their owners such as Reliance Industries, United Spirits, Tata Steel and RPSG Ventures. These companies, which run the sports teams as business ventures through subsidiaries, benefited from a larger central revenue pool of the Board of Control for Cricket in India (BCCI), showed the filings. The revenue pool mainly comprises money earned by the BCCI from selling the broadcasting rights and a portion of it is shared among the Indian Premier League (IPL) teams. For instance, the total income of Reliance Industries' wholly owned subsidiary Indiawin Sports, which owns the Mumbai Indians cricket team, more than doubled to ₹737 crore in 2023-24 from ₹359 crore in the previous fiscal. The company's net profit was ₹110 crore, compared to a net loss of ₹49 crore in 2022-23. The central rights accounted for three-fourths of the revenue in 2023-24, while nearly 22% came from ticketing sales, said the annual report of Reliance Industries.

Indian Racing Festival has announced a year-long partnership with FanCode to stream live motorsports events to fans across India. This partnership will feature the Indian Racing League and the FIA Formula 4 Indian Championship, starting with the IRL 2024 season opener at the Madras International Circuit on August 24. The festival, now in its third year, aims to bring high-speed racing action from eight city-based teams to viewers across the nation.The Indian Racing Festival will include teams from Delhi, Hyderabad, Bangalore, Chennai, Goa, Kochi, Ahmedabad, and Kolkata, competing for the championship title. A notable addition to this year’s festival is a groundbreaking night race on a street circuit in Chennai, a first for Indian motorsport. Prominent figures in Indian sports and entertainment, including Sourav Ganguly, Arjun Kapoor, and John Abraham, are also involved in the festival. Sourav Ganguly, who recently became the owner of the Kolkata Royal Tigers Racing team, Arjun Kapoor, who owns the Speed Demons Delhi team, and John Abraham, who owns the Goa Aces by JA Racing, will all participate in the event.

Bengaluru a 'Metro' status. Union Minister of State for Finance, Pankaj Chaudhary, explained on Tuesday that under Rule 2A of the Income-tax Rules, 1962, a distinction is maintained between the cities of Mumbai, Kolkata, Delhi, and Chennai, and other places concerning special allowance for residential accommodation under section 10(13A) of the Income-tax Act, 1961. The four designated metropolitan cities have a 50 per cent salary consideration for computing exemption limits, while other cities, including Bengaluru, have a 40 per cent limit, a Bangalore Mirror report stated.

Bengaluru: Global Capability Centers (GCCs) in India have leased approximately 53 million square feet of office space in key Indian cities between 2022 and the first half of 2024, such as a highly skilled workforce, cost advantages, and favourable business conditions, according to CBRE and Zyoin's latest report. This growth is expected to continue, especially in India's top six metropolitan areas like Bengaluru, Hyderabad, Chennai, Pune, Delhi-NCR, and Mumbai, due to factors which boast exceptional talent pools that are conducive to expansion and future development. In the first half of 2024, office leasing activity in the GCC (Gulf Cooperation Council) region across six significant cities increased 8% year-on-year. During the same period, GCCs contributed to around 37% of India's total office leasing activity.

White-collar hiring activity grew to 2877 points in July 2024, registering a 12% YoYincrease vs July 2023 and an 11% MoM sequential increase compared to June 2024, the latest edition the Naukri JobSpeak Index has revealed. Most sectors reported healthy double-digit growths, with Pharma/Biotech (26%), FMCG (26%), Real Estate (23%), and AI/ML (47%) leading the pack. However, some of the uptick could be attributed to an impacted base of July’23, which saw an atypical dip in Index value on account of the IT sector’s woes, a statement from the company said. The Pharma/Biotech sector recorded a substantial 26% YoY increase, with Baroda (61%) and Hyderabad (39%) driving the surge. Key roles within Pharma like Sales & Business Development and Procurement & Supply Chain saw a 42% rise in hiring. Similarly, hiring in FMCG sector grew by 26%, led by Bangalore (52%) and Kolkata (43%), with Marketing and Communication roles in FMCG experiencing a 57% increase. The Real Estate sector also demonstrated a strong 23% growth in hiring, largely influenced by Delhi-NCR (+51%) and Hyderabad (+28%).

indexation benefit from the capital gain tax on property has spooked him. “The new taxation is good for short-term investors but not long-term investors. I calculated the tax outgo for the three properties in Bangalore I had held for over ten years. My tax outgo is 3x now without indexation. In many cases, I would not have paid any tax and had the option to offset them over the eight years,” he said. Experts say that the recent abolishment of indexation benefits on property sales is expected to slow down the resale residential market and deter owners of older properties and investors due to increased tax liabilities reducing potential profits. This change will likely moderate price growth in the resale segment and increase reduced transparency in value to avoid higher taxes, undermining efforts to formalise the real estate sector, they said.

Brigade Metropolis to KR Puram Railway Station.

Anamudi Real Estates, a part of the Godrej family office, is likely to partially exit its share in Bengaluru-based real estate developer Sobha Ltd in a deal valued around Rs. 1,000 crore.

Additionally, the revenue for the same quarter for the commercial office segment reached Rs 797 crore, reflecting 4 % growth compared to the previous year.

BITS Pilani alumnus has sparked a significant conversation about the challenges faced by techies in Bengaluru, particularly around issues of loneliness, work-life imbalance, and their detrimental effects on mental and physical health. The post has resonated widely, urging tech professionals to focus on their health and family.