Citi Financial News

death toll from a devastating earthquake has risen to nearly 3,500 people. The 7.7-magnitude quake struck on March 28, razing buildings, cutting off power and destroying bridges and roads across the country. Damage has been particularly severe in the city of Sagaing near the epicentre, as well as in Mandalay, Myanmar's second city and home to more than 1.7 million people. State media in the military junta-led country now say that the earthquake has caused 3,471 confirmed deaths and injured 4,671 people, while 214 remain missing. With people either having lost their homes entirely or reluctant to spend time in cracked and unstable structures, many Mandalay residents have been sleeping outside in tents.

Thailand declined to an over three-year low this week due to U.S. President Donald Trump's move to impose import tariffs and an existing market surplus, while India's export prices neared a two-year low on subdued demand. A flat 26% tariff was imposed on all goods being exported by India to the U.S., while Thailand's exports to the U.S. will attract 36%, Bangladesh 37% and Vietnam 46%. Thailand's 5% broken rice fell to $395-$400 per metric ton, its lowest since January 2022.

NIA judge hearing the 2008 Malegaon blasts case, Judge AK Lahoti, has been named in the general transfer list of district judges released by the Bombay High Court. The lawyer representing the families of the blast victims had earlier written to the Chief Justice of Bombay High Court, urging his intervention to retain Judge Lahoti in Mumbai. Judge AK Lahoti has been transferred from the Mumbai court to Nashik. The general transfer list released by the Bombay HC names more than 200 district judges. The judges are directed to assume office on June 9, after the court reopens for summer vacation. Earlier, on March 20, the lawyer representing the victims' families wrote to Bombay Chief Justice Alok Aradhe urging his intervention to retain Judge Lahoti, as the arguments on the 2008 Malegaon case are almost over. «The present letter is a sincere request on behalf of the victims to retain the Hon'ble Special Judge Shri A K Lahoti at the Hon'ble City Civil and Sessions Court for Greater Bombay, at Mumbai,» read the lawyer's letter.

Vitali Klitschko said the city was under missile attack on Sunday with explosions in the Ukrainian capital, two days after a Russian missile killed 18 people in President Volodymyr Zelensky's hometown. Klitschko said paramedics had been sent to two districts in Kyiv, while the Ukrainian air force said missiles had entered the northern Chernihiv region. «Explosions in the capital. Air defence is in operation,» Klitschko said on Telegram. «The missile attack on Kyiv continues. Stay in shelters!» He added that three people were injured so far, and said there was reported wreckage falling in two non-residential sites.

Protesters voiced anger over a range of issues: mass layoffs in the federal workforce, abortion restrictions, trade tariffs, and the gutting of public services. From Anchorage to Atlanta, demonstrators held signs warning of rising authoritarianism and falling living standards. “This outrageous administration is causing us to lose our allies across the world, and causing devastation to people here at home,” said Diane Kolifrath, 64, who travelled with 100 others from New Hampshire to protest in Washington. “They’re gutting our government.”

In a message addressed to Donald Trump, he states that only immediate action can prevent a global catastrophe.

Indian Peacekeeping Force (IPKF) deployed in Sri Lanka nearly four decades back. On the second day of his visit, Modi visited the IPKF Memorial in this Sri Lankan capital city and laid a wreath. In a social media post, Modi said the «unwavering courage and commitment» of the brave soldiers of the IPKF remained a «source of inspiration for us all.» «Laid a wreath at the IPKF Memorial in Colombo. We remember the brave soldiers of the Indian Peace Keeping Force who laid down their lives in service of peace, unity and the territorial integrity of Sri Lanka,» he said. «Their unwavering courage and commitment remain a source of inspiration for us all,» Modi added. India had lost around 1,200 soldiers during the IPKF's stay in Sri Lanka between July 1987 and March 1990.

Delhivery is acquiring rival logistics firm Ecom Express in an all-cash deal for Rs 1,407 crore. The Gurugram-based company had been valued at around Rs 7,000 crore less than a year ago. Here’s a timeline of how the once high-flying startup hit turbulence: 2012: Late T A Krishnan cofounded Ecom Express along with K Satyanarayana, Manju Dhawan, and Sanjeev Saxena—former Blue Dart executives. The company began operations in January 2013 from Gurugram, focusing on ecommerce logistics.

According to an official release, thereafter, at around 12:45 PM, PM Modi will perform darshan and pooja at the Ramanathaswamy temple at Rameswaram. At around 1:30 PM in Rameswaram, he will lay the foundation stone and dedicate various rail and road projects worth over Rs 8,300 crore to the nation in Tamil Nadu. He will also address the gathering on the occasion. These projects include the foundation stone for the four-laning of the 28-km-long Walajapet — Ranipet section of NH-40 and dedication to the Nation of the 4-laned 29-km-long Viluppuram — Puducherry section of NH-332, 57-km-long Poondiyankuppam — Sattanathapuram section of NH-32, and 48-km-long Cholapuram — Thanjavur section of NH-36. These highways will connect many pilgrim centres and tourist places, reduce the distance between cities and enable faster access to Medical colleges and hospitals and ports, besides empowering local farmers to transport agricultural products to the nearby markets and boosting the economic activity of local leather and small-scale industries. The Prime Minister will inaugurate the new Pamban Rail Bridge and flag off the new train service for Rameswaram-Tambaram (Chennai). The bridge carries a deep cultural significance. According to the Ramayana, the construction of Ram Setu was initiated from Dhanushkodi near Rameswaram. The Bridge, linking Rameswaram to the mainland, stands as a remarkable feat of Indian engineering on the global stage. It is built at a cost of over Rs 700 crore. It is 2.08 km in length, features 99 spans and a 72.5-metre vertical lift span that rises up to a height of 17 metres, facilitating smooth movement of ships while ensuring seamless train operations.

Among those ousted were its director, Dr. John Howard, who had been in the job through three previous presidential administrations, AP reported. The layoffs are stalling — and perhaps ending — many programmes, including a firefighter cancer registry and a lab that is key to certifying respirators for many industries, as per the report. The cuts are «a very pointed attack on workers in this country», said Micah Niemeier-Walsh, vice president of the union local representing NIOSH employees in Cincinnati. Unions that represent miners, nurses, flight attendants and other professions have criticized the cuts, saying it will slow the identification and prevention of workplace dangers. Rallies in Cincinnati and other cities drew not only fired CDC employees but also members of unions representing teachers, postal workers and bricklayers, Niemeier-Walsh said.

Posting on LinkedIn, a user identified as Aas Vora Jain described how, even with a take-home pay of ₹8.3 lakh a month, he ends up in a monthly deficit of ₹57,000. His claim instantly set off a flurry of reactions across social media, with some sympathising and many more ridiculing what they saw as an exaggerated account of luxury gone wrong. “I make ₹1.8 crore per year in Bangalore as a principal software engineer, and it's utterly unlivable,” Jain wrote. “Let's break it down. After taxes, my take-home is approximately ₹1 crore or ₹8.3 lakh/month.”

Fake cosmetics, massage pillows and sex toys. Crude homemade explosives. A Russian known as Warrior. A code word: Mary. These are among the key elements of a suspected Russian-run sabotage plot that led to three parcels being detonated at courier depots in Britain, Germany and Poland last summer, a person with knowledge of the Polish investigation told Reuters. The pillows, packed into the parcels with the cosmetics and sex toys, contained hidden homemade incendiary devices made of a cocktail of chemicals including highly reactive magnesium, according to the person familiar with the case who provided the most granular account yet of the alleged plot. The chemicals were ignited by pre-timed detonators adapted from cheap Chinese electronic gadgets used to track items like lost keys, with the effect enhanced by the tubes of what looked like cosmetics but in fact contained a gel made of flammable compounds including nitromethane, according to the source. «The proceedings in this case concern criminal activities inspired by Russia's GRU,» this person said, referring to Moscow's foreign military intelligence agency.

In 2024, at the India-ASEAN Summit, Modi gifted a vintage brass Buddha statue to Laos President Thongloun Sisoulith, symbolizing shared heritage and India’s commitment to cultural diplomacy. In the same year, India sent several sacred relics of Lord Buddha and his disciples to Thailand. The relics of Lord Buddha and his disciples, Arahant Sariputta and Arahant Maha Moggallana, were taken to Bangkok by an Indian delegation and displayed for 25 days in four cities of Thailand . In 2023, PM Modi and Japanese Prime Minister Fumio Kishida visited the Bal Bodhi Tree at Buddha Jayanti Park in Delhi, reinforcing the deep-rooted Buddhism ties between India and Japan. India also hosted the first-ever Global Buddhist Summit, bringing together scholars and practitioners to discuss contemporary challenges through the lens of Buddhist philosophy, where Modi stressed that Buddha’s teachings provide solutions to global issues. In 2022, PM Modi visited Lumbini, Nepal, on Buddha Purnima and laid the foundation stone for the India International Centre for Buddhist Culture and Heritage, a landmark project promoting Buddhist culture and strengthening Indo-Nepal spiritual ties.

Narendra Modi will inaugurate India's first vertical lift sea bridge in Rameswaram and would also dedicate other projects on April 6. On the eve of the official event, the Indian Railways came out with a promotional video of the picturesque new Pamban Bridge. The Railway Ministry said, «Bridging the past, lifting the new, Pamban stands tall with a breathtaking view. This Ram Navami, witness India's First Vertical Lift Railway Sea Bridge — unveiling in one day!» The coastal town has come under security cover ahead of the inauguration of the Rs 550 crore bridge. Around noon (April 6), the prime minister would inaugurate the new Pamban Rail Bridge and flag off Rameswaram-Tambaram (Chennai) new train service, and a Coast Guard Ship will be flagged off as the Vertical Lift Span rises up to make way, and witness the operation of the bridge. Modi is expected to visit the renowned Ramanathaswamy temple at Rameswaram at around 12.45 pm for darshan and pooja and later lay the foundation stone and dedicate to the nation various rail and road projects worth over Rs 8,300 crore in Tamil Nadu at around 1.30 pm, a release said. These projects include foundation stones for four-laning of 28 Km long Walajapet — Ranipet section of NH-40 and dedication to the nation of 4-laned 29 Km long Viluppuram — Puducherry section of NH-332; 57 Km long Poondiyankuppam — Sattanathapuram section of NH-32 and 48 Km long Cholapuram — Thanjavur section of NH-36.

The notices were issued by City Magistrate Vikas Kashyap on the police report, asking them to furnish bonds of Rs two lakh each after appearing before the court on April 16. These people were found protesting against the Waqf (Amendment) Bill, 2025 and wearing black badges on their arms during last Friday prayers of Ramzan in different mosques here on March 28. The people who got notices issued against them said they wore black badges only to show protest in a democratic way. Minority Affairs Minister Kiren Rijiju tabled the Waqf (Amendment) Bill, 2025 in the Rajya Sabha on Thursday, asserting that the legislation is not against Muslims or intended to hurt their religious feelings, but seeks to improve the functioning of Waqf properties, address complexities, ensure transparency and introduce technology-driven management. The Lok Sabha passed the Bill by a 288-232 vote in the early hours of Thursday, after nearly 12 hours of debate, and the Rajya Sabha gave its nod to the legislation following an over 13-hour debate.

recession — a threat that could hit India where it hurts most: its tech-driven cities. As American companies rein in spending, Indian IT firms are grappling with slower project cycles and shrinking revenues. The impact is already visible, with the Nifty IT index plunging 9% this week — its biggest weekly drop in five years — sparking concerns that a downturn in the US could derail the ongoing recovery in technology spending. Experts warn that India cannot remain immune to global economic shocks. Chartered accountant Paaras Gangwal highlighted on X (formerly Twitter) that a US recession may trigger a domino effect, especially in IT hubs like Bengaluru and Pune. He pointed out that the real estate boom in these cities has been fuelled by IT growth, making them vulnerable to global tech disruptions. In a post on X (formerly Twitter), CA Paaras Gangwal wrote, “Bangalore, Pune Real Estate Market is linked with IT Sector. It is HOT because boom in the IT Sector in last 3-4 Year. Recession in USA may impact the Real Estate market of IT Cities too.”

Max Verstappen may have kept his public comments minimal, but his social media activity said plenty about how he really felt about Red Bull’s rapid decision to remove Liam Lawson after just two races. Verstappen showed his position on Red Bull's swift team change by quietly supporting the post from Dutch driver Giedo van der Garde, which labeled it «bullying» and a «panic decision.» The quiet online support was in agreement with the private views that Verstappen has never openly revealed.

San Diego Padres and the Chicago Cubs are clashing in the latter's home turf on Saturday, April 5. The match, being played at the Wrigley Field, is the home opener for the Cubs this season. The fixture marks the beginning of a three-game series between the two sides. The two upcoming matchups will take place through the weekend. The match on Saturday is scheduled to begin at 01:20 pm (CDT). The third and the final game of the series will commence at the same time on Sunday.

Kolkata’s real estate market exhibited a mix of trends in the first quarter of 2025, with office space transactions witnessing a decline, while residential sales remained steady despite a slight dip. According to Knight Frank India’s latest report, India Real Estate: Residential and Office January — March 2025 Q1 2025, a total of 0.16 million square feet (mn sq. ft.) of office space was leased in Kolkata during Q1 2025. This marks a 16% decline from Q1 2024, when 0.20 mn sq. ft. was transacted. However, despite the drop in leasing activity, average transacted office rents rose by 9% to Rs 42 per sq. ft. per month, making it the highest among India’s top eight cities, alongside Hyderabad.

Subscribe to enjoy similar stories. Indian hotel operators have run into high valuations and a lack of quality assets as they seek to expand in a market hungry for luxury travel. They have turned creative to overcome these hurdles by acquiring properties that can be redeveloped or repurposing office buildings into hotels and even incorporating apartments into their projects.

Flying taxis will become a viable method of transportation in China in the next three to five years, according to a senior executive at Ehang, a company that makes autonomous aerial vehicles (AAVs).