City New Delhi Financial News

26.08 / 03:49
Citi Provident Booking Metro country cover services Traffic G20 Summit in Delhi: Offices to opt WFH from Sept 8-10; Check latest traffic advisory for metro, bus services
Also Read: Supreme Court will remain closed on September 8 in view of G20 Summit: CJI The imposed limitations have been categorized into two types: controlled and regulated zones. The initial district of New Delhi has been designated as Controlled Zone 1. Specific areas like Vikas Marg leading to ITO, roads in proximity to the Red Fort, and the vicinity surrounding the city's primary train stations have been grouped into Controlled Zone 2, due to their proximity to the event venue.
25.08 / 18:29
MET Cooper country India, China offer different views on Modi-Xi conversation in Johannesburg
India and China on Friday offered divergent views to characterise the conversation between Prime Minister Narendra Modi and President Xi Jinping in Johannesburg two days ago even as Beijing sought to downplay the eastern Ladakh border standoff saying the boundary question does not represent the «entirety» of the bilateral relations. In a readout on the conversation between the two leaders, the Chinese foreign ministry said President Xi Jinping conveyed to PM Modi that both sides should «bear in mind» the «overall interests» of the ties and «properly» handle the border issue. Hours after Beijing's statement on Modi-Xi conversation claimed it was held at the Indian side's request, Indian sources said there was a «pending request» from the Chinese side for a bilateral meeting, suggesting that New Delhi has not heeded to it. «The two leaders, however, had an informal conversation in the leaders' lounge during the BRICS summit,» one of the sources said. Modi and Xi held the conversation on Wednesday on the sidelines of the BRICS (Brazil, Russia, India, China, South Africa) summit in Johannesburg, amid continuing strain in bilateral ties in view of the lingering border standoff in eastern Ladakh. The conversation was not a structured bilateral meeting.
25.08 / 17:07
Citi Provident Booking Assurant Metro Inside Traffic Delhi Police announces traffic curbs in advisory for G20 summit in New Delhi
Delhi will be out of bounds for unauthorised persons for three days during the G20 summit next month, police officials said on Friday. An array of restrictions on movement of vehicular traffic have been announced in New Delhi district, areas around Rajghat and the regulated zone demarcated by the Ring Road, they said.
25.08 / 15:07
Provident Target Microsoft country voice generative AI Generative AI biggest weapon and tool for cybersecurity: Microsoft's Brad Smith
cybersecurity will be through generative AI, said Microsoft USA vice chairman Brad Smith during the B20 India Summit 2023 in New Delhi. Addressing cybersecurity attack concerns raised by generative AI, Smith said that there will be an increasing number of organisations and governments that will use the technology to develop cybersecurity threats. “The problem today is that we live in a world where the cloud services, all of the technology that we use, is susceptible to attacks from cyber criminals and nation states,” said Smith, adding that as the success rates of criminals are falling, the volume of cyber attacks is also rising.Also read | Regulatory blueprint is a must for AI adoption across public and private sector: Microsoft president Brad Smith He said that 80% of all successful ransomware attacks originate in an organisation through unmanaged devices or services. He added that cyber attacks by nation states have also increased with almost 40% of the attacks targeted towards critical infrastructure.
25.08 / 15:07
MET NOT Manipur: 10 Kuki MLAs assert they do not have any intention to communicate with CM Biren Singh
Kuki MLAs have stated that they do not have any intention to communicate with the Manipur Chief Minister, N Biren Singh. The MLAs' stated Biren claim of communicating with the Kuki-Zomi-Hmar MLAs may be a ploy to sow seeds of mistrust and disunity between the Kuki-Zomi-Hmar MLAs and their people. The MLAs in a statement said, «all the 10 Kuki-Zomi-Hmar MLAs that we have not been in touch with CM N Biren Singh since the outbreak of the communal violence in May 2023. Of late, Imphal valley had become a „Valley of Death“ for the Kuki-Zomi-Hmar people.
25.08 / 11:19
audience Diversification of supply chains to be critical for global growth: FM Sitharaman
Nirmala Sitharaman, the Minister of Finance today. «We need to quickly diversify our supply chains. Well functioning international markets with resilient and efficient supply chains are the ones that can help us sustain our growth.
25.08 / 11:19
VISA Progressive show track country Indians were granted the most number of German Work Visas in 2022
Indians were granted a total of 17,379 work visas last year, Federal Foreign Office of Germany said. Germany granted a total of 152,336 national work visas to foreigners in 2022, representing a significant increase compared to 2021. Out of the total visas issued to Indians, 8,613 work visas were granted by the German Consulate General in Bangalore. The second-highest number of work visas for Indians was granted by the German Consulate General in Mumbai (3,013), followed by the Consulate General in Chennai (2,483), the German Embassy in New Delhi (2,434), and the German Consulate in Kolkata (836). Turkish nationals are the second-largest beneficiaries of work visas issued by Germany followed by Bosnians, Kosovars, Russians, Albanians, and North Macedonians. This comes at a time when German cabinet on Wednesday passed a draft bill to ease the citizenship law, hoping a faster track to German nationality will attract skilled migrants to plug chronic labour shortages holding back Europe's biggest economy. Some experts caution that progress may be slow, noting parts of Germany's administrative machinery are already creaking under a big backlog of existing citizenship applications.
25.08 / 09:55
Citi Provident Citizens Metro restrictions Traffic G20 summit: Traffic restrictions to be imposed in Delhi from 7 September, several roads to remain closed. Details here
G20 Summit in India next month. Delhi police are currently busy ensuring smooth traffic flow in the city as high-profile delegates, including heads of states, will gather in the national capital for the event. The G20 Summit is slated to take place on September 9-10 at the state-of-the-art Bharat Mandapam Convention Centre at Pragati Maidan.
25.08 / 08:31
UPS CEO Platform country exclusive Zepto raises $200 million, becomes first unicorn of 2023
New Delhi: Online grocery delivery company Zepto has raised $200 million in Series-E fundraise, valuing the company at $1.4 billion, and making it the first unicorn of 2023. The fundraise was led by US-based private markets investment firm StepStone Group, Zepto, set up in the aftermath of the pandemic, on Friday said. The investment also marks StepStone Group’s first direct investment in an Indian company.
25.08 / 07:23
Assurant Pinnacle Instagram show exclusive trudeau G20: Justin Trudeau disappointed over President Zelensky's exclusion from summit, ‘will do everything possible…’
G20 summit in New Delhi next month. Trudeau assured Zelenskyy of continued support and stated they would strongly advocate for Ukraine. The summit invited Netherlands, Singapore, Spain, UAE, Oman, Bangladesh, Egypt, Mauritius, and Nigeria as "guest countries." Ukraine was similarly invited to previous G7 and NATO summits to show support amid its conflict with G20 member Russia.
25.08 / 05:21
MET BLOCK Progressive country Explainer Mint Explainer: Modi, Xi meet on sidelines of BRICS Summit. Why is it important
Narendra Modi and President Xi Jinping of China met on the sidelines of the BRICS Summit in Johannesburg, South Africa. The two leaders held “candid and in-depth" exchange of views on current China-India relations and other questions of shared interest. Mint explains the significance of the meeting.
25.08 / 04:35
COST Provident Manufacturing Landmark Remark country Tata Steel, Jindal Stainless contributed to Chandrayaan-3
New Delhi: Indian steel companies Tata Steel and Jindal Stainless played key roles in the success of the Chandrayaan-3 lunar mission, which landed on the Moon's south pole on Wednesday. Tata Steel said its crane technology helped in assembling the Fat-LVM3-M4 rocket.
25.08 / 02:53
Art awards film Actor love National ‘Art is subjective’, Kangana Ranaut reacts to Thalaivii's miss at National Film Awards
Thalaivii for not getting any awards at the 69th National Film Awards on Thursday evening. "All of you who are disappointed that my film Thalaivii didn't win any... please know I am eternally grateful for whatever Krishna gave and didn't give me and all of you who really love and appreciate me must appreciate my perspective as well ...
25.08 / 02:53
POT No nutritional info on alcoholic drink labels except energy content, says FSSAI
New Delhi: The Food Safety Standard Authority of India (FSSAI) has said that labels on alcoholic beverages must not contain nutritional information except the energy content in kilocalories. Even the declaration related to energy content shall be voluntary, it said.
24.08 / 20:11
UPS Digital Celebrity country Mumbai Bandhan drops anchor in Delhi and Mumbai to drive growth
Bandhan Bank has decided to build a corporate office in Mumbai while setting up a zonal office and government business centre in New Delhi as it plans to expand beyond the eastern region where it is dominant. The private sector lender has spent about ₹160 crore to buy a commercial space in the country's financial capital to build the corporate centre which will also house its treasury, managing director Chandra Shekhar Ghosh told ET. The centre is being built on a 40,000 sq ft area in Mumbai's Bandra Kurla Complex (BKC) and is likely to become ready in the fourth quarter of this fiscal, Ghosh said.The bank is also building a back office in Navi Mumbai in a rented 65,000 sq ft space, he said. Its New Delhi zonal office will be important for liaison with government departments for government business. Bandhan, which celebrated the completion of eight years in banking on August 23, is also on a branch expansion spree even as it is getting ready to expand digital offerings.
24.08 / 19:01
UPS Cooper Manufacturing country EU moots investment court to settle investor- state disputes
European Union has proposed an investment court system to India to resolve investor-state disputes, a substantive change from its earlier proposal, as the two sides thrash out the modalities of the proposed bilateral investment protection pact. EU commissioner for trade Valdis Dombrovskis also indicated the two sides may resolve their outstanding dispute. The two are involved in a dispute over tariffs imposed by New Delhi on information and communication technology goods outside the World Trade Organization. Noting India's ambition to become a manufacturing hub and integrate itself with the global value chains which requires a lot of investment, he said: «For this investment to come, there also needs to be proper investment protection and a proper mechanism to solve disputes as they arise.» India and the EU are negotiating a trade pact, an investment protection agreement and an agreement on geographical indications. The bloc has proposed the investment court system on the lines of agreements with other countries. «We are awaiting India's proposal on this,» said Dombrovskis, who is in India for the two-day G20 trade and investment ministers meeting that began Thursday. «It's a change of EU approach instead of relying on arbitrations where sometimes it was not transparent.
24.08 / 18:37
Citi FIVE Platform country Iran, Saudi Arabia among six new additions to Brics
NEW DELHI : Leaders of Brics countries on Thursday invited six more nations to join them in the grouping’s first expansion since 2010. Iran, Saudi Arabia, Egypt, Argentina, Ethiopia and the United Arab Emirates will join existing members Brazil, Russia, India, China and South Africa, said South African President Cyril Ramaphosa at a briefing. The six countries are expected to become members starting 1 January.
24.08 / 18:37
Ford Platform Action concert Latin Backed Hindenburg 2.0? George Soros-backed OCCRP said to be planning another ‘expose’
New Delhi: Months after a US short seller shook markets with a damning report on the Adani group, the Organised Crime and Corruption Reporting Project (OCCRP) - an organisation funded by likes of George Soros and Rockefeller Brothers Fund - is said to be planning another 'expose' on certain corporate houses in India, sources said. OCCRP, which calls itself "an investigative reporting platform formed by 24 nonprofit investigative centres... spread across Europe, Africa, Asia and Latin America, may publish a report or a series of articles, three sources with knowledge of the matter said.
24.08 / 18:37
Citi Public holiday in Delhi from September 8-10 in view of G20 Summit: Govt notification
There will be public holidays in the national capital from September 8-10 with the closure of banks, financial institutions and commercial establishments in the New Delhi district, a Delhi government notification said on Wednesday. All Delhi government and private offices, and educational institutions, including schools and colleges, will remain closed during these three days, said the notification issued by the General Administration Department (GAD) of the Delhi government.
24.08 / 18:37
UPS FIVE BLOCK Progressive Manufacturing awards country resolution ‘EU for investment court system for dispute resolution under BIT’
NEW DELHI : The European Union (EU) has proposed an investment court system for dispute resolution as part of the bilateral investment treaty (BIT) under negotiation alongside the free trade agreement, European commissioner for trade Valdis Dombrovskis said. EU officials plan to discuss the proposal with finance minister Nirmala Sitharaman on Saturday, Dombrovskis said in an interview. In a sign of easing trade tensions, the EU trade chief said that settlement of outstanding disputes at the World Trade Organization (WTO) is also on the agenda.
24.08 / 17:39
UPS FIVE track country India on track to become third largest economy: Finance secy
New Delhi: India, which is registering fastest economic growth among top five global economies, is on track to become the third largest economy, finance secretary T.V. Somanathan said on Thursday. India is currently the fifth largest economy behind the US, China, Japan and Germany.

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