City Mumbai Financial News

New Delhi has gotten a makeover ahead of this week’s summit of the Group of 20 nations

Reserve Bank of India (RBI) Governor Shaktikanta Das highlighted the need for bringing in solutions to tackle the key challenges to existing cross border payments including high cost, low speed, limited access and insufficient transparency. To this, the governor of India's central bank suggested that Central Bank Digital Currency (CBDC) can play an important role in making cross-border payments cheaper, faster and more secure. «Faster, cheaper, more transparent, and more inclusive cross-border payment services would deliver widespread benefits to people and economies worldwide.

The initial public offering (IPO) of Jupiter Life Line Hospitals will open for subscription on September 6. The issue closes on September 8.

Speaking about the upcoming season of the Great Outdoors in Hong Kong and Mega Events, Mr. Puneet Kumar, Director South Asia and Middle East, Hong Kong Tourism Board said, “The young and affluent Indian travellers coming to Hong Kong are increasingly seeking for an active, adventurous and undiscovered experiences. We are thrilled to present them the Great Outdoors in Hong Kong that would offer them city’s energetic, vibrant and thrilling adventures such as beautiful rewarding green hiking trails, remote yet accessible self-sustained islands & beaches, soft adventure water sporting activities and outdoor sights to awaken their 5 senses in expansive natural landscapes. Hong Kong is also gearing up to welcome the international visitors who want an ultimate thrill seeker’s itinerary to combine their visit around the exciting international sporting events such as Hong Kong Cyclothon, Hong Kong Streetathon and Standard Chartered Hong Kong Marathon."He further said, “We welcome our fans and friends from India for upcoming season as travelling to Hong Kong from India is seamless with visa free stay not exceeding 14-days after successfully registering for Pre-arrival registration and now a wide choice of full board and low cost carriers connecting Hong Kong from Delhi, Mumbai and Bengaluru."Push the limits at a world-class international racing eventAs a global city, Hong Kong hosts a number of international sporting events each year.

By Divya Chowdhury

₹40,545 to ₹58,565, beginning from September 14. These reduced fares are expected to remain in the range of ₹17,885 to ₹21,444 and stable until November 1. Afterwards, fares are anticipated to rise again, coinciding with the festival season and the New Year rush.

Prime Minister Narendra Modi's government hopes the elaborate effort to make New Delhi sparkle — a “beautification project" with a price tag of $120 million — will help showcase the world’s most populous nation’s cultural prowess and strengthen its position on the global stage. But for many street vendors and those crammed into New Delhi's shantytowns, the makeover has meant displacement and loss of livelihood, raising questions about the government's policies on dealing with poverty. In a city of more than 20 million people, the 2011 census had the homeless at 47,000 but activists say that was a vast underestimate and that the real number is at least 150,000.

Also Read| Asia Cup 2023: Jasprit Bumrah off to Mumbai ahead of India vs Nepal match, expected to be back by… LiveMint earlier reported that ahead of India's second match of the Asia Cup, Bumrah had to leave for Mumbai owing to ‘personal reasons’. Bumrah is expected to rejoin the Indian contingent before the start of the Super Four stage of the tournament from September 6.

Jawan has reached dizzying heights. Nationwide anticipation builds as the film is scheduled to premiere in just three days, triggering a pre-release craze unparalleled even by Khan's earlier blockbuster, "Pathaan." Advance bookings for Jawan have already reached an astonishing ₹16.93 crore, as per Sacnilk. Koimoi's recent estimates point to the film nearly touching the 18.5-crore mark set by Gadar 2 for opening-day advance bookings.

Arkade Developers is planning to raise up to Rs 430 crore through initial public offering (IPO) and has filed its papers with market regulator the Securities and Exchange Board of India (SEBI). The company is planning to utilize the net proceeds towards development of their ongoing and upcoming projects, funding acquisition of future real estate projects and general corporate purposes. As of July end, the Mumbai-based developer has developed 1.80 million sq ft of residential properties including alliances where it holds majority stake. While the company's initial projects were stand-alone residential buildings, their current portfolio of ongoing projects includes five gated communities. Arkade Developers' revenue in the financial year 2023, 2022 and 2021 stood at over Rs 224 crore, Rs 237 crore, and Rs 113 crore, respectively. Unistone Capital is the sole book running lead manager to the issue.

NEW DELHI : The artwork of three modern Indian masters, Sayed Haider Raza, Francis Newton Souza and Tyeb Mehta, fetched record bids at Mumbai’s Pundole’s auction house over the weekend. While Raza’s ‘Gestation’ fetched ₹51.75 crore, including commissions, making it the most expensive Indian artwork ever sold at auction, Souza’s work titled ‘Hunger’ sold for ₹34.5 crore, setting a world auction record for the artist. Tyeb Mehta’s sculpture ‘Two Heads’ fetched ₹14.95 crore, gaining the world auction record for a Modern Indian sculpture.

MUMBAI : Billionaire Uday Kotak, who stepped down as the chief executive of Kotak Mahindra Bank Ltd on 1 September, believes he has fulfilled his fiduciary duty in ensuring leadership transition in the bank he founded. The onus to approve the name of a CEO for the bank now lies with the Reserve Bank of India (RBI) after Kotak, 64, surprised everyone by stepping down from the role of managing director and CEO four months before his term was to end on 31 December. Joint managing director Dipak Gupta will take charge as interim managing director and CEO until 31 December, subject to the approval of RBI.

MUMBAI : Markets do not seem to be showing major concern over recent allegations against Adani Group, which is evident from the derivative positions rolled over at the end of the August contract series. A position refers to outstanding short or long trade that is carried forward to next series. When significant number of shares are rolled over and prices increase, it signals bullish sentiment.

NEW DELHI, MUMBAI : Owners of three Indian Premier League (IPL) teams have approached the Board of Control for Cricket in India (BCCI) regarding their capital raising plans, three people aware of the matter said. While KPH Dreams Cricket Pvt. Ltd (Kings Xi Punjab) and JSW GMR Cricket Pvt.

Real estate is booming and rentals more so. With companies now driving back the workforce to office post the covid pandemic, renting houses in metros has become a nightmarish experience. This is particularly true in Bengaluru, where landlords even check your Linkedin profile before signing a rental agreement. Tenants also have to deposit a big advance and pay brokerage fees before moving in.

India vs. Nepal clash, the weather is likely to again create problems for India and Nepal.

The Congress found itself locked into an unlikely debate with the BJP on Sunday over Rahul Gandhi's wrist. Debate about the Wayanad MP's current relationship sister Priyanka Gandhi raged on social media with both parties sharing conflicting videos to back their assertion. The BJP insisted that the siblings had fallen out - citing the lack of a rakhi on Gandhi's hand - and laid forward several reasons for the same.

MUMBAI : Kotak Bank’s underperformance over the last three years on the stock exchanges could continue with Uday Kotak stepping down as MD & CEO four months ahead of schedule. Market analysts believe that the overhang of Kotak’s successor could rule on the stock performance until the Reserve Bank of India (RBI) approves the prospective candidate, who could be an insider.

MUMBAI : Markets do not seem to be showing major concern over recent allegations against Adani Group, which is evident from the derivative positions rolled over at the end of the August contract series. A position refers to outstanding short or long trade that is carried forward to next series. When significant number of shares are rolled over and prices increase, it signals bullish sentiment.

Star India pacer Jasprit Bumrah has left for Mumbai amid the ongoing Asia Cup due to personal reasons, as per sources. The sources also said that the bowler is expected to be back in time for the Super Stage of the tournament, starting from September 6 onwards. Pace veteran Mohammed Shami, who did not play in the first clash against Pakistan at Kandy, could replace him during the match against Nepal. Bumrah had just made his international cricket return after over 10 months from injury during India's T20I series against Ireland as a captain.

Ranveer Brar, known for his recent appearance in 'Modern Love Stories: Mumbai,' has launched a new restaurant in Dubai called Kashkan. Located in Dubai's Festival City Mall, the restaurant offers a pan-Indian menu that spans the length and breadth of the country, from Kashmir to Kanyakumari, reflecting its name. Brar's venture into the culinary world with Kashkan came after dedicating two months to perfecting the restaurant's diverse menu.