Citi Financial News

Russia conducted a heavy aerial attack on Ukraine for the third time in four days Thursday, again launching missiles and scores of drones that mostly were intercepted, Ukraine's air force said. Russian forces fired five missiles and 74 Shahed drones at Ukrainian targets, an air force statement said. Air defenses stopped two missiles and 60 drones, and 14 other drones presumably fell before reaching their target, it said. Authorities in the capital, Kyiv, said debris of destroyed drones fell in three districts of the city, causing minor damage to civilian infrastructure but no injuries. Russia's relentless and unnerving long-range strikes on civilian areas have been a feature of the war since it invaded its neighbor in February 2022.

Bangalore's current startup ecosystem and Kota, the coaching hub for IIT JEE aspirants in 2005. He refers to this as the "ecosystem delusion," where an environment rich in resources and networking opportunities can sometimes create a false sense of achievement among its participants. He listed four reasons why a «Bengaluru today reminds him of Kota of 2005». In Kota, thousands of students flocked to the city, assuming that merely being in the same place as the top achievers, attending the same coaching classes, and having access to the best resources would guarantee their success. However, only a small fraction of them actually cleared the IIT JEE, while the majority fell into the trap of complacency—believing that proximity to success was the same as putting in the hard work required to achieve it. In his post, Deshpande referred to Kota as the «Mecca of IIT-JEE,» highlighting that it fosters a well-crafted environment for success. «Each year, one coaching institute alone produces around 4-5 top rankers with single digits. Students have access to exceptional teachers, the finest books, and an infrastructure designed to promote success—everything from mess facilities to photocopy shops and rental PGs,» he explained.

Hurun India Rich List, surpassing Bengaluru for the first time to secure the third position in terms of the number of wealthy residents. The city added 17 new entrants this year, reflecting its growing prominence in India's wealth landscape.

Urban Vault, a managed co-working firm, has leased 100,000 sq ft of office space at Brigade Summit, a mixed-use project by Brigade Group in Whitefield, Bengaluru as the firm plans to expand the business to meet the increasing demand for managed workspaces. The new facility will include more than 2,000 desks and will see Urban Vault—a self-funded, bottom-line-driven company enter the Whitefield micro market that is witnessing many flexible operators expand operation. «The demand for prime office space has significantly revived. Large and medium-sized corporations are now preferring hassle-free managed office space from operators,» Urban Vault, Co-founder and CEO, Amal Mishra said.

billionaire every five days in the last one year and took the total count of US dollar billionaires to cross the triple-century mark for the first time. The 2024 Hurun India Rich List shows that India now has 334 billionaires by adding 75 compared to the last year.

Mumbai has become the 'billionaire capital' of Asia as it now comprises of more billionaire individuals than China's cpital city of Beijing, according to the Hurun India rich list 2024. «Home to 25% of the list – Mumbai is not only the billionaire capital of Asia, overtaking Beijing but also the preferred city for Hurun India Rich Listers, followed by New Delhi and Hyderabad,» the Hurun list data stated. Beyond this, Mumbai also registered a net increase of 58 billionaire individuals, adding to its growth momentum, the Hurun data revealed. This was followed by New Delhi, which added 18 new billionaires.

Rio de Janeiro police carried out 16 search warrants targeting the claw machines that elicit exhilaration among children and adults alike across the city

A Hong Kong court will deliver its verdict in a sedition case against two former editors of a shuttered news outlet on Thursday

Bernstein has initiated coverage on seven retail and restaurant companies — Avenue Supermarts, Trent, Aditya Birla Fashion & Retail, Jubilant FoodWorks, Westlife Foodworld, Devyani International and Sapphire Foods India. The firm has ‘outperform’ rating on Avenue Supermarts, Trent, Jubilant FoodWorks and Devyani and ‘underweight’ on Aditya Birla and Westlife World. Bernstein said that as organised retailers scale up, tremendous value creation opportunities can be accessed currently by unlocking demand beyond the top 40 cities and the top 10% of the pyramid of the Indian middle-class market.

GIFT city international financial services centre to have a lower public float of 10%. Companies listed on local exchanges are mandated to maintain a minimum public shareholding of 25%. The government issued a notification stipulating a lower public shareholding requirement for companies listing on stock exchanges at the International Financial Services Centre (IFSC)-a deemed foreign jurisdiction-a move aimed at wooing firms to list there.

Bee-Nado," following the show's tradition of disaster-driven story arcs.

Traders in Pakistan are observing a daylong strike by shutting down their businesses in all major cities and urban areas to protest a rise in electricity costs and new taxes imposed on shop owners

While “Asian brunch” may initially evoke images of traditional meals like Chinese dim sum, it’s become shorthand now for restaurants that offer Asian takes on American brunch

Peoples Conference and People's Democratic Party (PDP) released fresh lists of candidates for the upcoming assembly election in Jammu and Kashmir. Both parties are contesting the polls alone and have decided to field candidates on select seats across the Union Territory. The Peoples Conference issued its first list of seven candidates, including former Rajya Sabha member Nazir Ahmad Laway from Kulgam in southern Kashmir and former legislator Abid Ansari from Zadibal constituency in Srinagar.

Real Madrid will play UD Las Palmas in La Liga game on Thursday. Real Madrid have four points from two matches. Las Palmas have one point from two games. La Liga game between Real Madrid and UD Las Palmas is set to be kicked off at 3.30 pm (ET) Gran Canaria on Thursday, August 29. Real Madrid versus UD Las Palmas will be live streamed on ESPN+ and Fubo TV which offers free trial. Real Madrid is likely to win the La Liga game against UD Las Palmas.

Himachal Pradesh has been experiencing heavy rainfall over the past 24 hours, which has caused significant disruption in the hill resort town of Shimla. The downpour has resulted in several trees being uprooted, due to which the Information and Public Relations Office at Chhota Shimla sustained partial damage because of a tree falling over it. According to the local weather centre in Shimla, the region has recorded 41 mm of rainfall during this period.

Shalini is a crypto reporter who provides in-depth reports on daily developments and regulatory shifts in the cryptocurrency sector.

has offered about 2,000 acres of land to Taiwanese contract manufacturer Foxconn to set up a 'Foxconn City', similar to its facilities in its home country and China. Karnataka and Tamil Nadu are also aggressively courting the company to set up the industrial township. As India's place gets cemented into Foxconn's future plans, here's a look at major expansion announcements made by the company recently: Total investment: Foxconn has invested $1.4 billion in India till date. Chairman Young Liu, a Padma Bhushan awardee, said India is an integral partner for the company and its business here has grown to over $10 billion till 2024.

The OMERTA airdrop offers a rare chance to get in early on the first AAA Mafia Open-World game in Web3. As participants help to grow the game’s online presence, they earn free OMERTA tokens, gaining an early stake in a one-of-its-kind project.

Residential housing prices in the Delhi-National Capital Region (Delhi-NCR) jumped by 30% year-on-year during the April-June quarter of 2024, the highest among the top eight cities in India, according to the report. In the Delhi-NCR region, the average housing prices jumped 69% in Dwarka Expressway during the quarter under review. Meanwhile, the average housing prices soared 45% year-on-year in Greater Noida during Q2 2024, according to the report. «Both these markets saw select marquee projects by leading developers during the quarter within luxury and ultra-luxury segments,» the report said. Bengaluru came second in the list as the housing prices jumped by 28% year-on-year in the southern city, as per the report. In Bengaluru, «the Periphery & Outer East micro markets witnessed the highest price rise at 42% year-on-year. Ongoing Metro extensions and upcoming suburban rail projects are likely to further boost residential activity, especially in Inner East and Periphery and Outer North micro-markets,» the report added. «1BHK apartments continued to see healthy demand, with their prices rising at 44% year-on-year followed by 4BHK configuration at 29% year-on-year rise,» the report said.

Union Cabinet on Wednesday approved a proposal to hold third batch of ascending e-auctions for 730 channels in 234 new cities under Private FM Radio Phase III Policy. The estimated reserve price has been pegged at Rs 784.87 crore. Union Information and Broadcasting Minister Ashwini Vaishnaw said here that the Cabinet also approved a proposal to charge an annual license fee (ALF) of FM channel as four per cent of gross revenue excluding GST. This will be applicable for 234 new cities / towns. The private FM radio roll out in 234 new cities and towns will fulfil the unmet demand for FM radio in these areas which still remain uncovered by private FM radio broadcasting and bring new and local content in mother tongue, an official statement said.