Citi Financial News
30.09 / 13:43
markets
Citi
security
Opinion
RAI
Department
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AFSPA extended in Manipur for six more months
AFSPA) by another six months in Manipur excluding 19 police station areas falling under the Imphal valley and a region that shares its boundary with Assam. In a notification, the state government's Home Department said the extension will come into effect from October 1. «The state government is of the opinion after analysing the prevailing law and order situation in the state that it is not expedient to have a detailed assessment on the ground as security agencies are preoccupied with maintenance of law and order,» the notification said. The issue of declaration of Disturbed Area status is very sensitive and may likely attract public criticism and resistance if proper care is not taken, it said.
30.09 / 13:19
Citi
Provident
Digital
CEO
Platform
security
Trade
ZA Bank Gains SFC Approval for Type 1 Regulated Activity
Hassan, a Cryptonews.com journalist with 6+ years of experience in Web3 journalism, brings deep knowledge across Crypto, Web3 Gaming, NFTs, and Play-to-Earn sectors. His work has appeared in...
30.09 / 12:35
markets
Citi
economy
Trade
performer
strain
China markets surge in wild end to the quarter
Subscribe to enjoy similar stories. A major injection of economic stimulus in China drove gains in stocks from Beijing to New York at the end of the quarter. Some investors say what happens there could be key to markets’ direction in the months ahead.
30.09 / 10:59
Citi
Extreme
security
wellness
social
reports
International
‘Salad bar extremism’ has come to Canada, intelligence report says
Edmonton city hall shooting.“While some extremists are assessed to have a primary motivation, others are influenced by a combination of beliefs,” said the Strategic Threat Assessment.“This phenomenon is occurring in Canada,” according to the June 4, 2024, report by the government’s Integrated Terrorism Assessment Centre (ITAC).Also called composite extremism, it is “driven by a myriad of messaging within mainstream social discourse as well as extremist propaganda that is internalized by an individual,” it said.“Variations of this phenomena have been referred to as composite violent extremism, salad bar extremism, or mixed, unstable, or unclear (MUU) extremism,” the ITAC report said.The Canadian Security Intelligence Service released a redacted version of the document to Global News under the Access to Information Act.The report partly focused on a Jan. 23 attack at Edmonton city hall.
30.09 / 10:07
Citi
WhatsApp
reports
4.2 magnitude earthquake hits Maharashtra's Amravati; no casualty
earthquake of 4.2 magnitude was recorded in Maharashtra's Amravati district on Monday afternoon, the National Centre for Seismology (NCS) said. There was no report of any casualty or loss of property, Amravati's Resident Deputy Collector Anil Bhatkar said. The quake struck the district at 1.37 pm, the NCS said. Mild tremors were felt at places in Chikaldhara, Katkumbh, Churni, Pachdongri talukas and Melghat area, Bhatkar said.
30.09 / 09:15
30.09 / 08:09
markets
Citi
show
performer
reports
Schools
Inventory overhang in Indian real estate at record low due to robust sale
inventory overhang (the estimated time required to sell off unsold stock based on sales velocity) has dropped to 22 months in the June quarter, down from 34 months in the corresponding quarter last year. According to PropTiger.com report, NCR's Gurugram witnessed a substantial decline in inventory overhang from 72 months in Q2 2023 to 31 months in Q2 2024. Ahmedabad also showed strong performance, reducing its inventory overhang from 33 months to 18 months during the same period, reflecting the healthy demand dynamics in these markets. Regarding unsold inventory, the report said that despite a moderation in supply and absorption rates, India’s residential real estate market displayed resilience, achieving a 2% year-on-year decline, bringing the total to over 9.26 lakh units as of June 30.
30.09 / 08:09
markets
Citi
security
Analysis
Sustainability
Research
Trade
Chinese stocks enter bull market after biggest surge since 2008
The CSI 300 Index jumped 8.5% Monday, marking the most since 2008 as traders rushed to buy shares in the last session before a week-long holiday. The index, which lost more than 45% of its value from a 2021 high through mid-September, has since soared more than 20% to enter a technical bull market. Its rally last week was the biggest in 16 years.
30.09 / 04:13
markets
Citi
Provident
Digital
Aware
Metro
country
Bank deposits and mutual funds: cogs of the same wheel
There is a view that in the growing pie of savings and investments, banks are losing out to mutual funds. That may be happening in the margins as India’s equity market has been on a bull run. But let us look at the big picture.
30.09 / 02:29
Citi
security
economy
Election
Universities
Courts
The sole candidate for Macao's leader pledges to diversify the casino city's economy
The sole candidate in the election for Macao’s next leader has pledged to diversify the economy of the Chinese casino city, a goal previously laid out by Beijing
30.09 / 00:53
COST
Citi
wellness
trends
show
electronic
reports
Festive season spurs consumer spending in smaller towns
Subscribe to enjoy similar stories. As India's annual festive season unfolds, consumers in smaller towns and cities are cautiously opening their wallets. A good chunk of Indians plans to spend more this year, despite high prices tempering some of the enthusiasm.
30.09 / 00:47
markets
UPS
Citi
CEO
Action
stage
Schools
Tier-II SaaS 'mafia' flips the script to shift action to the hinterlands
Freshworks and Zoho «mafia» that led to several employees of these companies branching out to start their own firms — some of which have become extremely successful. Chennai's success in SaaS is known but there's a silent movement happening across the smaller cities across the country that can be dubbed the early makings of a 'tier II mafia,' industry watchers said. SaaS startups like Responsive in Coimbatore, Supersourcing in Indore, Appointy in Bhopal, DreamCast in Jaipur, Dhiwise in Surat or CallHippo in Ahmedabad — these are all examples of companies that are slowly scaling and becoming the anchor companies in these regions. «There are SaaS startups that are maturing and reaching a certain scale and size in a number of emerging cities,» Avinash Raghava, CEO of the industry collective SaaSBoomi told ET. «This is happening across the board where there are anchor companies emerging that are having their employees leave to start their own SaaS firms. It is still in the nascent stage but we are seeing it happen increasingly now wherein I believe the next Freshworks or Zoho will not come from Chennai or Bangalore but will be from one of these emerging cities.”
30.09 / 00:47
markets
UPS
Citi
Platform
track
electronic
Sale is live! ecommerce cos see robust demand this season
Online retailers like Flipkart and Amazon are poised to record 20-25% growth in festive season sales this year, gauging from response to the first three days of sale, according to estimates from Datum Intelligence and senior industry executives briefed on the sale trajectory. During September 26-28, online retailers clocked about 26% rise in sales compared to last year, at about Rs 26,500 crore ($3.2 billion), as per Datum Intelligence, which tracks ecommerce data. The market researcher estimates gross sales of $12 billion this festive season, a growth of about 23%, including discounts and returns. Etail major Flipkart is on track to hit its internal targets for this festive season based on the first three days of sale. The first day of sale was only open to paid VIP and Plus members, similar to Amazon Prime. “Day 1 is usually for the high frequency buyers and the next day it opens to all…Now, with three days of trends in, their (Flipkart) sales remain on target,” said one of the executives cited above.
29.09 / 19:09
markets
Citi
Target
security
War
reports
Israeli airstrikes kill dozens across Lebanon as Hezbollah confirms 7th top commander was killed
Lebanon killed dozens of people on Sunday as the Hezbollah militant group sustained a string of deadly blows to its command structure, including the killing of its overall leader, Hassan Nasrallah. Hezbollah confirmed Nabil Kaouk, the deputy head of the militant group's Central Council, was killed on Saturday, making him the seventh senior Hezbollah leader slain in Israeli strikes in a little over a week. They include founding members who had evaded death or detention for decades. Hezbollah had earlier confirmed that Ali Karaki, another senior commander, died in Friday's strike that killed Nasrallah. Israel says at least 20 other Hezbollah militants were killed in the strike, including two close associates of Nasrallah, one of whom was in charge of his security detail.
29.09 / 13:13
markets
COST
UPS
Citi
Google
Fighting
President
AI data center boom spurs race to find power
Subscribe to enjoy similar stories. Tech companies scouring the country for electricity to power artificial intelligence are increasingly finding there is a waiting list. In many places the nation’s high-voltage electric wires are running out of room, their connection points locked up by data centers for AI, new factories or charging infrastructure for electric vehicles.
29.09 / 12:29
markets
UPS
Citi
Fighting
security
President
Universities
The $1.7 billion takeover brawl fueled by a fear of China
Subscribe to enjoy similar stories. It is a bruising ownership fight in South Korea over the world’s largest zinc smelter. Fueling the dispute: fears the company could one day fall into China’s hands.
29.09 / 12:29
Citi
Target
Southern
War
gatherings
How Israel killed Hezbollah’s leader in underground bunker
Subscribe to enjoy similar stories. BEIRUT—Hassan Nasrallah and other senior leaders of Hezbollah were under siege as they gathered Friday afternoon in a bunker more than 60 feet beneath the surface of a bustling working class neighborhood in southern Beirut. A series of Israeli attacks had killed many of the Lebanese militant group’s senior leaders, blown up its electronic devices and destroyed some of its vast arsenal of missiles.
29.09 / 07:51
UPS
Citi
film
pandemic
trends
show
audience
As theaters struggle, many independent cinemas in Los Angeles are finding their audience
In a time when streaming and a pandemic have radically transformed cinema consumption over the past decade, a growing number of mostly younger people are contributing to a renaissance of the Los Angeles independent movie theater scene
29.09 / 04:03
markets
Citi
Target
War
rights
War monitor says 12 dead in strikes targeting pro-Iranian fighters in Syria
pro-Iranian fighters have been killed in air strikes of unknown origin in eastern Syria, a war monitor said Sunday, adding that a large number of people were wounded. «Twelve pro-Iranian fighters were killed in air strikes of unknown origin targeting their positions in the city of Deir Ezzor and to the east of the city, as well as the Boukamal region, near the border with Iraq,» said the Syrian Observatory for Human Rights. The strikes were not immediately claimed by any entity, according to the monitor.
28.09 / 18:39
markets
Citi
Digital
Experts
RAI
Schools
Vodafone Idea seals Rs 13,500 crore equipment deal with Nokia
Vodafone Idea (Vi) has inked a near ₹13,500-crore deal with Finland's Nokia to buy equipment over a three-year span for its 4G network expansion and 5G roll out. Multiple persons privy to the deal details said Nokia will supply 4G and 5G network equipment to Vi in nine circles. The Finnish gear maker will supply Vi its 5G AirScale network gear portfolio and also upgrade the telco's existing 4G network with multiband radios and baseband equipment, which can also support 5G. The deal is part of Vi's recently announced plans to buy $3.6 billion (read: ₹30,000 crore) of 4G and 5G gear from Nokia, Ericsson and Samsung over a three-year span to bolster its 4G operation and roll out 5G networks in key cities across its 17 priority circles. The move was seen as a significant step from Vi to improve its competitiveness in the market against bigger adversaries Reliance Jio and Bharti Airtel and also stem customer losses.
28.09 / 18:01
markets
Citi
Photos
country
reports
Schools
Wuhan is in the news again after the COVID-19 outbreak; this time a Chinese attack submarine sank at a shipyard in the city
Wuhan shipyard, one of China's most recent nuclear-powered assault submarines sank, a US official confirmed, as per reports by Business Insider. The Chinese submarine, which was recorded in the Wuchang shipyard in Wuhan in late May, is believed to be the newest Zhou-class ship. However, it sank at some point after that. The Wall Street Journal was the first to report on the occurrence. Big, floating cranes were close to the pier in June, according to satellite photos taken by Planet Labs after it sank. It's thought that China has been trying to recover the ship. It was the first submarine of its type to sink. Thomas Shugart, a retired US submarine officer and adjunct senior scholar at the Center for American Security think tank, initially shared pictures of cranes gathered around an object in the water on X in July, near the location where the new submarine had previously been. He also mentioned the oil containment boom and conjectured that odd things were going on. Shugart posted online satellite photos from July 5 that revealed the cranes had moved, presumably completing the presumed salvage operation.
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