Citi Financial News

It’s the season of clear targets, quick wins and instant applause, as the Olympics of 2024 kick off in Paris, a city aflutter with flags bearing their famous ‘rings of unity.’ Among other virtues, the Olympic Games offer us a contrast with economic frames, which have complex targets, slow wins and patchy applause. So much so that our heads can begin to spin if rings get run around what’s good for the economy, as if the data overload of every budget is not heavy enough.

₹1,400 crore, and infused more funds to acquire assets. The private equity firm has hired JP Morgan and Avendus to find buyers for Lighthouse. The 100% stake sale in Lighthouse, that was formerly called EuroKids International Group, assumes significance given that schooling and pre-schooling are perceived as regulated sectors, and any foreign investor will have to get comfort before going ahead with the investment, the three people said.

Some U.S. states are scrapping investments in Chinese companies amid tensions between countries with the world's largest economies

Nissan has lowered its full fiscal year outlook after the Japanese automaker reported a 73% decline in profit in the April-June quarter compared to the previous year

cost indexation in property transactions, although simpler to administer and resulting in lower capital gains tax, may adversely impact slower markets, typically smaller towns and less desirable districts of large cities. The new tax dispensation favours property investments that yield positive inflation-adjusted returns. Where this condition is not met — housing prices not having grown much faster than prices overall — the homeowner faces an extra tax hurdle in disposing of his property. This could cause greater illiquidity in select micro markets and affect urban growth. The same forces would be at play during a property downcycle, when homeowners may put off decisions to sell, contributing in the process to factors that led to the slump.

An Associated Press analysis of county tax data across three states — Illinois, Iowa and Nebraska — found wind companies rank among the biggest taxpayers in many rural communities, with their total tax bills at times outstripping that of large farms, p...

Nebraska Gov. Jim Pillen has issued a long-awaited proclamation to call a special legislative session to address soaring property taxes

paper leak case.

indexation benefit on property. Now, homeowners are required to pay a flat 12.5% long-term capital gain tax on the gain they make by selling the property. The new rule is one of the most significant budget proposals, especially for homeowners planning to sell their property. While the finance ministry claims that a majority of homeowners will be better off under the new rule, ET Wealth’s analysis paints a different picture and shows that some homeowners will even face a double blow. Here is a detailed analysis and also suggestions on how you can minimise the adverse impact.

ITC Hotels announced the opening of its 25th property under its brand Welcomhotel on Thursday.

evacuated to safety on Thursday following flooding in Sinhagad Road and some other areas along the riverbank in Pune city due to incessant rains, officials said. Two columns of the Army were deployed in Sinhagad Road area which was severely affected by flooding, they said.

Air India Express, a subsidiary of Tata owned Air India on Thursday announced that it has expanded its network to Tripura. It will introduce daily direct flights connecting Agartala to Guwahati, Delhi and Kolkata from September 1, said the airline in a press release. Tripura will be the airline’s 46th destination.

Google Maps is now going live in Kochi and Chennai, powered by the government-backed Open Network for Digital Commerce (ONDC) and Namma Yatri. Last December, Google had announced a collaboration with ONDC and Namma Yatri to streamline public transport experience on Google Maps. «Starting this week, Google Maps in Kochi and Chennai will allow you to book your tickets. Now, when you search for public transport directions in these two cities, you'll start seeing a new booking option for the metro leg of your trip. With a tap, you'll be guided through the booking and payment process, eliminating the need to wait in line at the station,» said Anal Ghosh, India Product Lead, Google Maps, while talking to reporters in Bengaluru on Thursday.

Hitting the streets from Vancouver’s west coast to Nova Scotia’s eastern shores, electric scooters are zooming into Canadian cities, embraced as a convenient and eco-friendly mode of transportation.

Disney has reached a tentative agreement with four unions representing thousands of workers at its California theme parks including ride operators, candy makers and parking attendants

A plane has crashed just after taking off from Nepal’s capital, killing 18 people and injuring a pilot who was the lone survivor

A lawyer says activist publisher Jimmy Lai will testify in his defense at his Hong Kong national security trial

₹15,000) on a recruit’s first salary, internships offered at India’s top 500 companies, reimbursements of provident fund contributions and other measures aimed at higher participation of women in the workforce are expected to drive job creation substantially. The budget also aims to establish India as a leading startup nation. Key provisions include relief on the ‘angel tax’ and increasing the Mudra loan scheme’s limit from ₹10 lakh to ₹20 lakh per borrower.

A few years ago,private equity firms collectively agreed to give recent graduates a bit of breathing space before they tried to hire them from their jobs in banks. That agreement seems to have lapsed.

James Mangold's "A Complete Unknown" is released, showcasing Timothée Chalamet as Bob Dylan. The biographical drama explores Dylan's early years and his historic 1965 Newport Folk Festival performance.