City Chennai Financial News

25.07 / 10:12

Citi Provident Target Digital Aware Gap country India targets 12% annual merchandise export growth for $1tn vision: DGFT's Santosh Sarangi

Santosh Sarangi, IAS, Director General, Directorate General of Foreign Trade, New Delhi, Government of India, today said that currently India's export is USD 450 billion, and to reach USD one trillion mark, the country needs to grow at year-on-year rate of 12%. «Similarly, in service sector we need to grow at 16.6 percent on an average every year,» Sarangi said at the World Trade Day 2023 programme in Bhubaneswar organised jointly by World Trade Centers in four cities, viz. Mumbai, Bhubaneswar, Jaipur and Goa.

25.07 / 07:57

UPS IPO Provident AXY country TVS Supply Chain Solutions gets Sebi's nod for IPO launch. Details here

capital market regulator’s approval to raise funds through an initial public offering (IPO). The Chennai based company had in April refiled draft red herring prospectus (DRHP) with Securities & Exchange Board of India (SEBI) for the IPO. It has obtained Sebi’s observation letter on July 18.

25.07 / 06:37

COST Citi CEO performer electronic Retail leasing grows 24% year-on-year in the first half of 2023

Retail leasing in India witnessed a 24% Y-o-Y growth in Jan-June’23 period and a 15% increase compared to Jul-Dec’22 period, according to a CBRE report. Total leasing during Jan-Jun’23 stood at 2.87 mn sq ft compared to 2.31 mn sq ft (Y-o-Y). Bangalore, Delhi-NCR, and Ahmedabad collectively accounted for a cumulative share of 65% in leasing activity during the first six months this year.

25.07 / 00:57

Cooper Progressive country After China, US climate envoy John Kerry on 5-day India visit. Here's what's on agenda

renewable energy and storage solutions, support the deployment of zero-emission buses, and diversify clean energy supply chains. "In Chennai, Secretary Kerry will attend the G20 Environment and Climate Sustainability Ministers Meeting," the statement read. Notably, the G-20's environment and climate sustainability ministers will meet on July 28 in Chennai.

24.07 / 19:01

UPS Citi Mobile Celebrity country cover India rejects $1B BYD proposal amidst 'security concerns'

The Economic Times reported over the weekend that India has rejected Chinese automaker BYD's (OTC:BYDDY) proposal to set up a $1 billion factory in the country through a partnership with Hyderabad-based Megha Engineering and Infrastructure Ltd.

24.07 / 17:13

UPS Provident Digital Mobile Enterprise country Reliance Industries Brookfield Centre stake Reliance Industries to acquire 33% stake in Brookfield-Digital Realty data centre venture

Reliance Industries Limited (RIL) today announced entering into an agreement to invest alongside Brookfield Infrastructure and Digital Realty in their Indian SPVs set up for developing data centers in India. RIL will hold 33.33% stake in each of the Indian SPVs and become an equal partner. Digital Realty Trust, Inc.

24.07 / 15:09

Citi Waves FIVE Progressive Strategy social Disaster We must mobilise private finance for disaster risk reduction: P.K. Mishra at G20 DRR Meet

New Delhi: Over the past few years, financing for disaster risk reduction has been completely transformed in India and a predictable mechanism is in place for financing, not just for disaster response but also disaster mitigation, preparedness and recovery, said Principal Secretary to the Prime Minister, P. K.

23.07 / 16:11

COST UPS Citi Software Why demand for office space is experiencing a lull

real estate services firm CBRE in the March-ended quarter found that 96% of businesses expected employees to work at least three days a week at office once stability returns, up from 91% last year. Around 40% hoped to have work-from-office fully. A survey by Unispace found 92% of employees expect to work at least four days a week in the office in the near future.

22.07 / 14:13

Citi Aware Platform Celebrity country beautiful social The pursuit of beauty: What explains Damani's big bet on Health and Glow?

Nykaa have dominated the sector in the recent past, it is increasingly seeing consolidation of brands or bigger conglomerates making an entry. The latest is Radhakishan Damani, billionaire investor and founder of Avenue Supermarts that runs the D-Mart chain.

22.07 / 06:47

Citi Digital CEO Platform Enterprise country Proptech startup Altre raises $1million from institutional investors

Altre has raised $1million in a pre series A round to grow technology, capability and teams across the country. Altre is a B2B fulfilment marketplace for commercial real estate.

22.07 / 06:21

McDonald's Mobile Subway KFC country Drop Some Subway India outlets drop tomatoes citing poor quality amid price surge

Subway India outlets have stopped serving tomatoes in their salads and sandwiches due to quality problems, the latest move by a foreign brand as prices of the staple have soared nearly 400% to record highs in the country. A Subway outlet at a Delhi airport terminal announced the «Temporary Unavailability of TOMATOES» in a sign saying the restaurant could not get enough supply that passed its quality checks. «Hence for the time being we are forced to serve you products without tomatoes,» it said.

21.07 / 13:49

UPS Citi Manufacturing CEO Southern performer Bengaluru, Hyderabad, Chennai account for 59% of total office leasing across 7 cities in Apr-Jun: Vestian

India’s three key southern cities — Bengaluru, Chennai and Hyderabad — dominated office demand with contribution of 59 per cent of the total office leasing across the top 7 cities during the quarter ended June, according to the quarterly office market report by real estate consultant Vestian, titled ‘The Connect Q2 2023’.

20.07 / 18:39

social THIS Chennai restaurant serves 'Baahubali' thali for ₹1,399, Will you try?

₹1399/- + GST. Any family game for it," read the tweet.

20.07 / 15:21

UPS NIFTY Buyback L&T plans to launch its first ever share buyback

₹9,000 crore at a price of ₹1,475 apiece. However, the plan had to be shelved in 2019 after the Securities and Exchange Board of India or Sebi disapproved the buyback over concerns that such a buyback could swell the company’s debts. The latest buyback proposal has come after the company turned debt-free last year.

20.07 / 11:13

UPS Remark Meet Ajahn Siripanyo: The billionaire's son who gave up Rs 40,000 crore to become a monk

Monk Who Sold His Ferrari", Julian Mantle, a successful lawyer, sells his mansion and Ferrari to go on a spiritual journey. Julian Mantle was fictional, of course. But the story of Ajahn Siripanyo is real.

20.07 / 10:55

UPS Citi CEO Southern show performer Bengaluru, Chennai and Hyderabad dominated office demand in April-June quarter

India's three key southern cities — Bengaluru, Chennai and Hyderabad dominated office demand with the contribution of 59% of the total office leasing across the top 7 cities during the quarter ended June, according to Vestian. As per the data, the combined office leasing in three major southern cities stood at 8.2 million square feet, out of a total 13.9 million square feet absorbed in the April-June quarter of this calendar year. Across seven major cities, office leasing fell 6 per cent to 13.9 million square feet during April-June as against 14.8 million square feet in the year-ago period due to delays in decision-making by large domestic firms and MNCs amid global uncertainties.

20.07 / 10:27

UPS Citi Manufacturing CEO Southern show B'luru, H'bad, Chennai contribute 59 pc to total office leasing across 7 cities in Apr-Jun: Report

Bengaluru, Chennai and Hyderabad — three top southern cities — contributed 59 per cent to the total gross office leasing across seven major cities during the June quarter, according to real estate consultant Vestian. Bengaluru-based Vestian on Thursday released its quarterly office market report The Connect Q2 2023, stating that the combined office leasing in Bengaluru, Chennai and Hyderabad stood at 8.2 million square feet, out of a total of 13.9 million square feet office absorption in the April-June quarter this year.

20.07 / 05:53

COST Citi Airlines track Low Better coaches, automatic doors, better food, more comfort: Railways plans to run trains like low-cost airlines

Indian Railways is planning to launch regular non-AC long-distance trains connecting major cities like Delhi, Mumbai, Surat, Ahmedabad, Bangalore, Chennai, and parts of Punjab. As per ToI report, the railways plans to start the train services before the next Lok Sabha election. The selection of these routes has been carefully determined by analyzing waitlisted ticket data and assessing the origin-destination patterns of high passenger volumes.

20.07 / 04:29

Twitter Fighting love ICC shares photo of Shah Rukh Khan with World Cup trophy, gets overwhelming response from fans

Jawan. “This is the legacy of SRK, ICC acknowledges him as King Khan. And who better than the biggest face of India to unveil the World Cup trophy," one Twitter user wrote.

20.07 / 01:09

MET Aware Manufacturing Apple HON Foxconn unit looks to build facility in Tamil Nadu by next year

Foxconn unit, which sells components to the likes of Apple and Lenovo to garner about a third of the Taiwanese contract manufacturer's aggregate revenue, is looking to build an operational facility in Tamil Nadu by next year, multiple people aware of the discussions told ET. Foxconn's parent company Hon Hai Technology already has large existing facilities in Tamil Nadu and is looking to further ramp up these sites. For instance, it manufactures iPhones for Apple exclusively in a facility in Sriperumbudur near Chennai.

19.07 / 17:57

UPS Citi Celebrity show performer voice Indian Mumbai QS ranking on world's best cities for students: No Indian city in top 100, Mumbai 118th

QS Best Student Cities survey that showcases the best urban destinations for international students. Mumbai (118th) is India’s highest-ranked city, followed by Delhi (132nd), Bengaluru (147th) and Chennai (151-160) in the 11th edition of the Quacquarelli Symonds’ Best Student Cities survey. One areas of concern for all Indian cities is the desirability indicator – which considers metrics related to quality of life, pollution index, safety, and the propensity of prospective students to select a city for their university experience — where no Indian city made it to the global top 100.

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