City Mumbai Financial News

Amazon.com Inc. will start streaming BBC shows in India, opening up a new front in an intensifying entertainment war with the likes of Asia’s richest man, Mukesh Ambani, in one of the world’s largest media markets.

Mumbai received an average 100 mm rainfall in 24 hours till 8 am on Thursday, while neighbouring Thane city received a whopping 213.84 mm rainfall during that period. Some coastal districts, including Raigad and Ratnagiri, have been receiving incessant rainfall, officials said. Meanwhile, Tulsi lake, one of the seven reservoirs supplying drinking water to Mumbai, overflowed on Thursday following heavy rains in the city and suburbs, a civic official said. Earlier this month, the Powai lake, another reservoir located in the heart of Mumbai, started overflowing, but its water is not used for drinking purpose. The Tulsi lake, located in the densely forested Sanjay Gandhi National Park (SGNP), started overflowing at 1.25 am on Thursday, the official from the Brihanmumbai Municipal Corporation (BMC) said. This is expected to bring relief to citizens facing 10 per cent water cut since the beginning of this month.

Van Gogh 360° heads to the garden city of India. After vowing audiences in Mumbai and Delhi, the limited-time immersive experience will be exhibited at Bhartiya Mall Of Bengaluru, Bhartiya City, from August 8. The last show will he displayed on September 3. People willing to experience Dutch painter Vincent van Gogh's life in art can book the tickets through BookMyShow. Art lovers, who registered for the exhibit in advance, can get the tickerts at a special price of Rs 999 (for weekdays) and Rs 1399 (for weekends). The special discount will only be be from Thursday (July 20 noon) to Saturday (July 22 noon).

Fino Payments Bank is keen to become a small finance bank after having completed five years of operations, Managing Director Rishi Gupta said. The Navi Mumbai-based company is a subsidiary of Fino Paytech, which is backed by marquee investors such as Bharat Petroleum, ICICI Group, Blackstone, IFC, Intel and LIC, among others. The company started operations in July 2017 with 410 branches to become the fourth payments bank after Airtel Payments Bank, India Post Payments Bank and Paytm Payments Bank. Fino, which was a remittance service provider, has converted most of its Fino Money Mart outlets into bank branches after getting licence from the Reserve Bank. Also, Fino is the only lender in this space being traded on the exchanges. «From regulatory and compliance perspectives we are eligible for an upgrade to a small finance bank, having completed the mandatory five years of operations. Our board also favours such a conversion and soon we'll be moving an application with the RBI in this regard,» Gupta told PTI.

Premier League (IPL), billionaire Anand Mahindra was asked to invest in the now-hugely successful short-format cricket tournament that transformed the global fortunes of the sport. The tycoon, who heads the automotive and industrial conglomerate Mahindra & Mahindra Ltd., wasn’t particularly interested in what he considered a dull, passive vanity project. But it did spark an idea.

Dunzo is set to undertake another round of layoffs amid a fund crunch, cofounder and CTO Mukund Jha told employees in an all-hands meeting on Wednesday evening. Thelayoffs are part of the firm’s decision to reduce costs by 30-40%, as ET had reported on Wednesday. Chief executive Kabeer Biswas was in Mumbai on Wednesdaymeeting existing investors to secure fresh funds.

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.

Monsoon is the perfect setting for comfort food, especially if you are enjoying the Mumbai rains. Entrepreneurs and friends Vijay Shekhar Sharma and Vishal Gondal have been busy exploring the streets of the city and bingeing on delicious Mumbai food. The GOQii founder took to Twitter to share glimpses of their culinary journey around the city.

foreign portfolio investors (FPIs) made net purchases of Indian shares worth 306.60 billion rupees ($3.74 billion) in the first half of July.  As reported by Reuters, persistent FPI inflows have supported the rally in the blue-chip Nifty 50 and S&P BSE Sensex, driving the benchmarks to record highs. The Nifty 50 rose nearly 2% in the first half of July. Since March, foreign portfolio investors (FPIs) have invested in Indian shares worth 1,393.50 billion rupees, contributing to a 13% increase in the Nifty 50 index from March 1 to July 15.

landslide was reported at Irshalwadi village in Khalapur tehsil in Maharashtra's Raigad district. Some people are feared trapped inside the debris, the National Disaster Response Force (NDRF) said on Thursday.

Maharashtra will remain closed on Thursday due to heavy rainfall. Raigad District Collector Yogesh Mhase and Chandrapur District Collector Vinay Gowda have each declared a holiday for educational institutions in their respective districts to ensure safety during the heavy rains. As reported by ANI, “Raigad District Collector Yogesh Mhase has declared a holiday for all schools and colleges in the district today in view of heavy rains.

Naresh Goyal. The agency has registered a fresh money laundering case against Goyal, his wife Anita and others, sources in the know told ET. These sources added the searches were conducted in Mumbai and Delhi, including those linked to the Goyals and the erstwhile auditor of the airline.

MUMBAI : Healthtech platform Pristyn Care has suspended Rahul Narang and Saurabh Arora, the founders of Lybrate Inc., a day after the duo served a default notice demanding outstanding payment resulting from Pristyn Care’s acquisition of their company in June 2022, two people aware of the development said on condition of anonymity. Tiger Global-backed Pristyn Care, which runs a network of hospitals and clinics through partners, had acquired Lybrate to enter the primary-care segment. While the deal size was not disclosed, it was said to be $20-30 million, including payments to other investors of Lybrate, such as Nexus Venture Partners, Tiger Global Management, and Ratan Tata’s RNT Associates.

business schools are rolling out curriculum changes to better equip future managers for the changing needs and norms of hybrid workplaces, as businesses actively seek people who can effectively lead teams in different work modes. There is a demand from companies recruiting from campuses; they assess candidates for the capabilities required for the evolving work environment, said Indian Institute of Management-Ahmedabad director Bharat Bhasker.

Mumbai Police has registered an FIR against Italian fashion design brand Valentino, its billionaire founder Valentino Clemente Ludovico Garavani and some officials, based on a complaint filed on behalf of an Indian-American fashion designer, on the directions of a metropolitan magistrate. The magistrate on July 7 directed the police (Matunga police station) to register an FIR, saying a perusal of the complaint and documents annexed by the complainant reveals that «the cognisable offence has been committed by the proposed accused».

Gautam Adani said he intends to not only transform Mumbai's Dharavi into a modern city centre but also preserve and promote the local micro enterprises and small industries. The Adani Group has recently been awarded the ambitious project to redevelop 645 acres of Dharavi — one of Asia's largest urban slum clusters in the heart of Mumbai city.

MUMBAI : Billionaire Anil Agarwal’s Vedanta Ltd is seeking to sell ESL Steel Ltd, formerly known as Electrosteel Steels Ltd, after acquiring the asset for ₹5,320 crore through a bankruptcy resolution process five years ago, two people familiar with the development said. A previous attempt to sell the asset in late December failed as certain approvals, including environmental clearance and expansion plan, were still pending, turning prospective buyers cautious.

In what’s shaping up to be the biggest weekend for Hollywood at the box office after many months, Christopher Nolan’s Oppenheimer and Greta Gerwig’s Barbie are set to engage in a theatrical clash, generating immense excitement not only for the viewers in their home market but also among Indian fans. Nolan’s devoted fan base and the movie’s positioning as a big-screen spectacle shot on IMAX are helping the epic Robert Oppenheimer biographical thriller dominate advance ticket sales in India.

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.

India Campaign/Sugamya Bharat Abhiyan, launched in 2015, reports and anecdotal evidence abound to show that navigating India remains a nightmare for PwDs. In this context, the Comptroller and Auditor General of India's (CAG) reported decision to order a pan-India audit of disability features in government buildings constructed or retrofitted between April 2022 and March 2023 is very welcome. According to Census 2011, there are 26.8 million PwDs in the country.

schools shut on 20 July owing to the heavy rains in the state and the warning by the weather department that the rains may continue on Thursday. "In view of the continuous rains in Mumbai, considering the safety of the students, the Municipal Corporation has declared a holiday for tomorrow, 20th July, for primary, secondary, and higher secondary schools (Nursery to Class 12) of all management in the Mumbai Metropolis," said Brihanmumbai Municipal Corporation (BMC). The State Disaster Management Unit of Thane, Palghar, Raigad, Ratnagiri, and Sindhudurg districts have also decided to keep the schools shut on Thursday.