Citi Financial News

As the Olympics close in Paris, Los Angeles has now taken the torch

CULIACÁN, Mexico—In this steamy city that is home to the world’s largest fentanyl smuggling organization, the stunning capture of Sinaloa cartel patriarch Ismael “El Mayo" Zambada risks sparking a bloodbath that is likely to reverberate on the streets of the U.S. The once powerful Zambada said he was betrayed by the son of his longtime associate Joaquín “El Chapo" Guzmán. Now, many fear an open war between the two first families of the Sinaloa cartel.

Mint. Fresh from a trip to London and dressed in his usual crisp white BluSmart shirt and blue turban, Jaggi has other concerns now. While he maintains demand for rides is strong and growing, scaling up would require more charging points.

Here is our weekly collection of digital asset listing and delisting, trading pair-related announcements by crypto exchanges that we found last week and today.

A planned community for about 55,000 residents in Toronto will include the usual playgrounds, bike paths and shops. It will also feature 11 airplane hangars and more than a mile of airport runway. That is because the C$30 billion, equivalent to about $22 billion, development will be located at the Canadian city’s former Downsview Airport.

Despite introducing significant steps in the last one year to get control over skyrocketing visa wait times, the United States has still not been able to bring it back to normal. Although there has been improvement—which is reflected by the processing of 1.4 million visas for Indians in 2023, an all-time high, and a 75 per cent reduction in visitor visa appointment wait times—the issue persists. Wait times for B1/B2 visa vary significantly across U.S. consulates in India. In Calcutta, the U.S. consulate offers the shortest visa wait time of 24 calendar days. In contrast, the wait time in Hyderabad is 407 calendar days, while in Delhi, it extends to 386 calendar days. The consulate in Bombay has a wait time of 422 calendar days, and in Chennai, applicants face the longest wait, which is 477 calendar days.

In addition to rainfall, the national capital is expected to witness slight thinderstorms, the weather agency said in their forecast. «Cloudy with light rain and potential thunderstorms. The temperature will vary between 26°C and 32°C,» said the IMD in a statement. Read more: Delhi rains: Traffic alerts issued amid waterlogging on many roads. Check weather forecast

At present, there are 1,504 air monitoring stations in 543 cities across the country. The government has entrusted the job of updating NAAQS to IIT Kanpur, which has set up a panel comprising experts from the World Health Organisation (WHO) and other institutions. “Work on the new NAAQS is ongoing.

Citigroup is taking a significant step to pare down its wealth management division with a plan to sell off its trust administration and fiduciary services business.

Circle Squared Alternative Investments founder Jeff Sica argues this weeks CPI and PPI inflation data will make or break the stock market on Varney & Co.

Indian Hotels Company (IHCL) is betting big on its new businesses that it expects to grow at 35-50% every year, besides weighing an ambitious expansion plan for its reimagined brand, Ginger, as part of its strategy to accelerate growth. The strategic rationale for new businesses lies in addressing India's varied market, and diversifying IHCL's revenue and non-linear revenue growth businesses, capital light businesses and those yielding high margins, Puneet Chhatwal, managing director and chief executive told ET. IHCL's new businesses consist of a reimagined Ginger, Qmin, ama Stays & Trails and the Tree of Life brand.

Pradhan Mantri Awas Yojana (PMAY) Urban 2.0 plan over the next five years is expected to boost the affordable housing segment, allowing those migrating to cities for a livelihood to secure reasonable accommodation. PMAY-U is among the major flagship programmes being implemented by the government to provide all-weather pucca houses to all eligible beneficiaries in the urban areas. Under PMAY-U, more than 11.8 million homes have been sanctioned while nearly 9 million houses have already been constructed and delivered to the beneficiaries. “The nature of the housing scheme has changed in its new avatar. Government is using a wider mix of schemes ranging from interest subsidy to credit guarantee. While the quantum of interest subsidy per beneficiary has been scaled down, the government’s capital support will help a larger base of needy population. The government intends to do both — enhance its capital productivity and accelerate the ‘Housing for All’ timelines,” said Vivek Rathi, National Director Research, Knight Frank India.

Google experienced a significant outage affecting users across the globe. Starting around 9 am ET, individuals reported issues accessing key Google services, including Gmail, the search engine, YouTube, and more. Downdetector, which monitors online outages, recorded a sharp increase in complaints, revealing a widespread impact. Regional Impact and Service Breakdown The outage particularly affected major US cities such as Los Angeles and New York City, with additional reports from Houston, San Francisco, Dallas, Boston, and Chicago. According to Downdetector’s heat map, 57% of the reported problems were related to Google’s search functionality, 31% were linked to website performance, and 11% concerned Google Drive.

Pakistan Army on Monday took former General and former Inter-Services Intelligence (ISI) chief Faiz Hameed into military custody and initiated court martial proceedings against him, said the army's media wing. This move follows a detailed inquiry mandated by the Supreme Court of Pakistan to investigate allegations made in the Top City Case. This is the first time in Pakistan's history that a court martial has been initiated against a former intelligence chief, local media said. According to a statement from the Inter Services Public Relations (ISPR), the military has acted on the findings of the inquiry to address the complaints against Lt Gen Faiz Hameed (Retd). The court martial proceedings are being conducted under the provisions of the Pakistan Army Act.

NEW DELHI : India had 162 million demat accounts as of June, and 93 million SIP (systematic investment plan) accounts as of July—a strong indicator of increasing financialization in the country. Still, there are places where terms like “Sensex" or “Nifty" are foreign to people. Kargil, in the Union territory of Ladakh, over 200 kilometres from Srinagar, is one such place.

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

Karnataka and Andhra Pradesh are on high alert for potential flooding after a crest gate of the 71-year-old dam across the Tungabhadra river failed Sunday afternoon. This incident has led to water gushing out of the dam, which is about 350km from Bengaluru, raising concerns for downstream districts in north Karnataka and Andhra Pradesh's Kurnool and Nandyal. The Tungabhadra dam, which was inaugurated in 1953, has a maximum storage capacity of 133TMCFT (thousand million cubic feet). As of Saturday, it held 100TMCFT of water, with the remaining 33TMCFT being silt. On Saturday evening, 22 of its 33 crest gates were opened, releasing nearly 1 lakh cusecs of water into the river. Engineers have raised concerns regarding the damaged gate, estimating that 60TMCFT of the stored water must be drained before they can proceed with replacing the damaged gate. The entire process, including constructing a new gate, could take four days or longer.

IMD) has issued a yellow alert for multiple districts in Maharashtra, including Amravati, Buldhana, Chandrapur, Nagpur, Wardha, and Washim. This alert warns residents of possible isolated thunderstorms and lightning, advising them to stay cautious and prepared for sudden weather changes. Mumbai Weather Forecast Mumbai is expected to experience mostly cloudy weather with light rain over the next few days. The city’s temperatures will hover between 26°C and 30°C today, with wind speeds around 15 kilometres per hour. The sun rose at 6:19 AM and will set at 7:07 PM, offering a brief respite between rainy spells.

India Meteorological Department (IMD) predicting a week full of showers. On August 12, 2024, the national capital experienced light rain, with the maximum temperature recorded at 32°C and the minimum at 24.8°C. According to the Central Pollution Control Board, Delhi's air quality index (AQI) was recorded at 53 this morning, placing it in the «satisfactory» category. The AQI scale ranges from «good» (0-50) to «severe» (401-500), with «satisfactory» (51-100) indicating that air quality poses little or no risk. Throughout the week, Delhi is expected to witness generally cloudy skies accompanied by light to moderate rain, thundershowers, and occasional lightning, as forecasted by the IMD.

REA Group, owner of Housing.com, PropTiger.com, and Makaan.com, reported a 31% rise in its revenue from India in the financial year ended June 2024, down from 46% a year ago. The company has reported 103 million AUD (Rs 563 crore) in FY 24 against $79 million for the Australian FY23 ended June and $54 million in FY 22. «Our new products and innovations, both for customers and home seekers, have gained great popularity among the target groups and boosted sales, contributing to a 30% revenue growth,” said Dhruv Agarwala, CEO, Housing.com & PropTiger.com.