Citi Financial News

prison capacity to help tackle violent, week-long anti-immigrant riots that have prompted a growing number of countries to warn their citizens about the dangers of travelling in Britain. Riots across a number of towns and cities have erupted following the murder of three girls at a Taylor Swift-themed event in Southport, a seaside town in northern England, after false messaging on social media wrongly identified the suspected killer as an Islamist migrant. The Justice department, which is being forced to release some prisoners early as it battles a jail overcrowding crisis, said nearly 600 prison places had been secured to accommodate those engaged in violence.

Zika virus infection have been reported in Pune city in the last two months, civic officials said on Tuesday. Four of these patients died, but the cause in each case was not the Zika infection, a senior health official told PTI. Those infected also included 26 pregnant women but most of them are in good health, an official statement said. The first case of Zika virus infection in the city this year was reported on June 20 when a 46-year-old doctor in the Erandwane area tested positive. Subsequently, his 15-year-old daughter too tested positive for the infection. «The 66 cases include four deaths, but these deaths were not due to Zika but comorbidities the patients were suffering from....such as cardiac issues, liver ailments, old age. Their reports came positive for the virus from the NIV (National Institute of Virology) after death,» the health department official said. These four patients were aged between 68 and 78. The Pune Municipal Corporation's health department would, nonetheless, send their reports to the death audit committee of the Maharashtra government, the official added. «So far, no death due to Zika has been reported in the country,» he said.

The International Financial Services Authority (IFSCA), which regulates GIFT City, has proposed a reduction in the minimum ticket size for portfolio management services (PMS) from $150,000 to $75,000, or about ₹64 lakh at current exchange rates, according to a consultation paper released on Monday. This brings the minimum ticket size for PMS closer to the ₹50 lakh stipulated by markets regulator Sebi for onshore PMS schemes.

Shippers and producers held their breath ahead of a possible strike by thousands of railworkers this month that would halt freight traffic, clog ports and disrupt industries.

smaller cities, which hold the default advantage of lower operational costs and low attrition rates. Two recent reports – the Economic Survey and Infosys ESG – suggest that tech firms and global capability centres (GCCs) of multinationals are increasingly expanding their operations beyond metros, thanks to a newer base of talent available after their relocation during Covid. What is driving them to smaller cities is high availability of talent that migrated during pandemic and didn’t return to their work locations post pandemic plus cost benefit across operations, said Munira Loliwala, vice president for strategy and growth at TeamLease Digital.

on food-delivery platforms. Six years since, she is rolling in dough. The 33-year-old entrepreneur who lives with her husband and two kids says her family was able to purchase a house and upgrade from a two-wheeler to a car after signing up with a food-delivery platform which helped boost sales to ₹4 lakh per month.

The Oakland Athletics has reached a tentative agreement to sell its half of the Coliseum to a private Black development group for $125 million

Real Madrid will take on Chelsea in a soccer game at Bank of America Stadium in Charlotte, North Carolina. Reigning Spanish La Liga and UEFA Champions league champions Madrid lost to Barcelona in their previous match. Chelsea were also defeated by Manchester City in the past weekend. Chelsea versus Real Madrid football match is scheduled to kick off at 7 pm (ET) on Tuesday, August 6. Real Madrid and Chelsea's game will be live streamed on Fubo TV which offers free trial for a limited period. Real Madrid is likely to win the match against Chelsea.

In this article

Bengaluru: Global Capability Centers (GCCs) in India have leased approximately 53 million square feet of office space in key Indian cities between 2022 and the first half of 2024, such as a highly skilled workforce, cost advantages, and favourable business conditions, according to CBRE and Zyoin's latest report. This growth is expected to continue, especially in India's top six metropolitan areas like Bengaluru, Hyderabad, Chennai, Pune, Delhi-NCR, and Mumbai, due to factors which boast exceptional talent pools that are conducive to expansion and future development. In the first half of 2024, office leasing activity in the GCC (Gulf Cooperation Council) region across six significant cities increased 8% year-on-year. During the same period, GCCs contributed to around 37% of India's total office leasing activity.

Mahindra Lifespace Developers Ltd and Actis have formed a joint venture platform 'Ample Parks' for the development of industrial and logistics parks and will build their first 70-acre project in Chennai. Actis, a leading global investor in sustainable infrastructure, and Mahindra Lifespace have formally launched a joint venture Ample Parks, an indian industrial and logistics real estate developer and operator, according to a company statement. The joint venture (JV) Ample Parks aims to acquire and develop about 1.5 million square metres of greenfield and brownfield sites in key markets across India over the next few years. The JV aims to establish itself as a leading industrial and logistics real estate solutions provider to global and local corporations.

CK Venkataraman, MD, Titan, says that when it comes to Tanishq, what is emerging is that we need to up our game in terms of the standards, the innovations, and the excellence that we play for us to continue to keep growing at the rate at which we have grown for a long time. It is a good situation to be in. It will pull out everything that we have in terms of our capabilities and strengths. So, we are looking forward to the exciting times that are around us and, in a way, increasing in multiple ways. Though Q1 was not a blowout quarter for the jewelry market per se, demand was impacted by fewer wedding days and volatility in gold prices. Are things looking up now? CK Venkataraman: Yes, July has certainly been better. Even Q1 had two parts to it. For the first half till Akshaya Tritiya, growth YoY was good. But after that, the balance of the quarter was when the challenge came, where multiple things like extreme heat, gold prices, election excitement, plus election-related pressures on the movement of gold and stuff like that, but July has certainly been better.

Supreme Court on Monday took suo motu cognisance of the deaths of three civil services aspirants in the basement of a coaching centre here and sought responses from the Centre and the Delhi government. A bench of Justices Surya Kant and Ujjal Bhuyan said the recent incident in the national capital was an eye-opener for all. «These places (coaching centres) have become death chambers. Coaching institutes can operate online unless there is full compliance of the safety norms and basic norms for a dignified life. Coaching centres are playing with the lives of aspirants who come from different parts of the country,» the bench said. On Friday, the Delhi High Court transferred the probe into the deaths of the three students at Rau's IAS Study Circle in Old Rajinder Nagar from the city police to the Central Bureau of Investigation (CBI) «to ensure the public has no doubt over the investigation».

SBI, while JPMorgan has a neutral rating on Amara Raja. Citi also has a buy call on UPL.

The South Korean city of Ansan has announced that it will confiscate crypto from tax dodgers who fail to pay local levies.

Edited excerpts: Across our four business segments that are India multichannel, overseas business, Globalbees (brand aggregator) and preschools, it’s a $120 billion opportunity we are chasing. So having such a large market, there will be growth levers, and which we'll talk about separately, I'll just restrict myself to profitability right now. So, on profitability, India multichannel we grew our adjusted Ebitda profitability in FY22, we were at 5.9%, we made it to 6.2% in FY23, and now, FY24, we are at 8.8%.

Bureaucracy is keeping a close eye on the government's message of continuity. Will it be reflected in soon-to-come ACC (Appointments Committee of the Cabinet) orders? While Union home secretary Ajay Kumar Bhalla's extended term will end this month, the term of Cabinet Secretary Rajiv Gauba, who is also on extension, ends on August 30. Principal secretary to the prime minister, PK Mishra, continues in office. Also, several secretary level appointments are likely to be made this month. Bureaucracy is keeping a close eye on the government's message of continuity. Will it be reflected in soon-to-come ACC (Appointments Committee of the Cabinet) orders? While Union home secretary Ajay Kumar Bhalla's extended term will end this month, the term of Cabinet Secretary Rajiv Gauba, who is also on extension, ends on August 30. Principal secretary to the prime minister, PK Mishra, continues in office. Also, several secretary level appointments are likely to be made this month. Bureaucracy is keeping a close eye on the government's message of continuity. Will it be reflected in soon-to-come ACC (Appointments Committee of the Cabinet) orders? While Union home secretary Ajay Kumar Bhalla's extended term will end this month, the term of Cabinet Secretary Rajiv Gauba, who is also on extension, ends on August 30. Principal secretary to the prime minister, PK Mishra, continues in office. Also, several secretary level appointments are likely to be made this month.

Keir Starmer said that those responsible for the disorder and chaos that's spreading across UK towns and cities will be punished for what he described as «far-right thuggery.» «Those who have participated in this violence will face the full force of the law,» he said from Downing Street on Sunday. «This is not protest, it is organised violent thuggery. And it has no place on our street or online.» Disturbances have taken place in towns and cities including Rotherham, Blackpool and Bristol over the weekend, with a number of police officers attacked and injured. The riots represent one of the biggest challenges facing the month-old Labour government, as it struggles to rein in the unrest.

Israel is already in a «multi-front war» with Iran and its proxies, Israeli Prime Minister Benjamin Netanyahu told a Cabinet meeting Sunday, as the United States and allies prepared to defend Israel from an expected counterstrike and prevent an even more destructive regional conflict. Tensions have soared following nearly 10 months of war in Gaza and the killing last week of a senior Hezbollah commander in Lebanon and Hamas' top political leader in Iran. Iran and its allies have blamed Israel and threatened retaliation. Hamas says it has begun discussions on choosing a new leader. Netanyahu said Israel was ready for any scenario. Jordan's foreign minister was making a rare trip to Iran as part of diplomatic efforts, while the Pentagon has moved significant assets to the region.

schools in Gaza City on Sunday, killing at least 30 people, while the military reported it had struck Hamas command centres. These bring to at least 11 the number of schools in Gaza to be struck since July 6, killing around 150 people, based on a tally of tolls previously given by officials in the Hamas-run territory. «The number of martyrs in the massacre of the Hassan Salameh and Al-Nasr schools' bombing has risen to 30. Dozens were also wounded,» civil defence spokesman Mahmud Bassal told AFP.