Citi Financial News

The new chair of Hong Kong’s leading media professional group says she lost her job at The Wall Street Journal after she refused her supervisor’s request to withdraw from the election for the leadership post

Asylum-seekers have gravitated to working food delivery in New York and other major cities, drawn by an abundance of customers and ease of getting started

₹190 crore, two company executives told Mint. The company has committed ₹100 crore to Chennai-based Radiance Realty Developers India Ltd, and another ₹90 crore to Pune-based Mantra Properties and Developers Pvt. Ltd, for their respective residential projects.

A key city council vote could pave the way to give the Tampa Bay Rays a new 30,000-seat ballpark as part of a $6.5 billion redevelopment project in St. Petersburg, Florida

Massive flooding that hit the Greater Toronto Area on Tuesday was a “significant event,” underscoring the need to step up Canada’s fight against climate change, Prime Minister Justin Trudeau said.

budget, global markets are buzzing with anticipation. Stakeholders in the urban development sector are especially hopeful for policy reforms and fiscal support from the Central Government under Modi 3.0. Following an 11% increase in infrastructure capital allocation in the interim budget, significant advancements in urban development are expected. With India’s urban population projected to reach 600 million by 2030, the demand for quality infrastructure and basic amenities in cities is soaring. The focus on urban development in India is anticipated to continue, with initiatives aimed at enhancing infrastructure and the quality of life in urban areas. The Government of India has been actively emphasising the enhancement of infrastructure, housing, and technology integration to boost overall urban living standards. Accordingly, there are several key expectations of the industry stakeholders related to the advancements in the urban development sector in India from the upcoming Budget 2024, which may be summarised as below -

Keki Mistry, Former VC & CEO, HDFC, says his experience over the years not only in India but in many other countries globally, is that when the tax rate is reduced, compliance is improved significantly and there is a greater urge to work and earn more income. So, a reduction in tax rates, whether it is a different tax rate and also the highest marginal tax rate, will go a long way in improving sentiment, including increasing productivity. At the end of the day, it will also result in higher savings and increased consumption.

Founded in 2020 by banking industry veterans Dominic Duru, previously of RBS and Citi, and Khalid Talukder, previously of UBS, Citi & Deutsche Bank, DKK specialises in emerging markets (EM) and foreign exchange (FX) liquidity. The firm last raised a £3 million pre-seed round in September last year at a pre-money valuation of £100 million. DKK has seen its flow rise to $1.3 billion in transactions in the last year with Ebitda reaching an impressive $2 million. The firm has also opened dedicated offices across all key markets, including London, Dubai, Ghana, Nigeria, Cameroon and Senegal. Earlier this year, DKK received initial approval from the Dubai Virtual Assets Regulatory Authority (VARA) to offer Virtual Asset Broker Dealer Services. As part of the deal Meridien Holdings will help the firm to scale up its operations by supplying complementatary technology to help drive efficiency and distribution of its products and services.

NEET-UG 2024 controversy said that re-examination can be done only if it is concrete that the entire test was affected, while noting that the case has social ramifications. «Re-examination has to be on concrete footing that the sanctity of the entire test was affected,» CJI DY Chandrachud said as the bench heard a clutch of pleas related to the controversy-ridden medical entrance exam NEET-UG 2024. On the issue of the ongoing probe, the bench said, «The CBI probe is on. If what the CBI has told us is revealed, it will affect the investigation and people will become wise.»

Budget 2024, scheduled in July, one may expect the government to continue with its objective of moving towards a simplified tax system through the new tax regime (NTR) that was introduced in Union Budget 2020-21. With a view to make the NTR more attractive for individual taxpayers, the government could consider taking measures such as increasing the standard deduction limit from Rs 50,000 to Rs 100,000; including health insurance premium (u/s 80D) in this regime and enhancing the deduction limit available to promote adoption of adequate health insurance cover. Besides, an increase in deduction limit for employer's contribution to the National Pension System (NPS) u/s 80CCD(2) from 10% of basic salary to 14% will be a welcome move. The enhancement of this deduction will ensure parity with the provision applicable for central and state government employees and would provide an option for enhanced tax saving under the new tax regime, along with promoting long-term retirement savings. However, in case the government continues with the old tax regime as an option, it will be important to rationalise some of the tax provisions. One such provision will be to consider Bengaluru as a «metro city» for the purpose of HRA exemption in Budget 2024.

Newme, an omnichannel fashion brand focused on new-gen customers, has raised $18 million in a funding round led by US venture capital firm Accel along with participation from existing investors including Fireside Ventures and AUM Ventures. This marks another instance of new consumer brands that are building their platforms online and offline simultaneously getting venture fund interest. Omnichannel fashion brands like Rare Rabbit, The Pants Project, and Virat Kohli-backed Wrogn have raised venture funding in recent weeks.

killed after a fire broke out at a shopping mall in southwest China's Sichuan Province. The incident occurred on Wednesday around 6 pm at the 14-story building, located in a high-tech zone in the city of Zigong, Sichuan province, according to Chinese state media. Dramatic images and videos showed a huge column of black smoke billowing from the building. Several people were also seen gathered on a balcony. The rescue operation was completed on Thursday. Around 75 people who were trapped inside the building were evacuated, the local fire department said.

Italy for vacation, some locals have grown tired of tourists treating their cities like a playground.In Florence, photos of a female tourist groping a beloved statue and miming a sex act have triggered outrage, with some officials calling for an end to bad behaviour from foreigners.The photos were shared to Instagram on Tuesday. In one of the two blurry images, a woman is seen standing on the base of a life-sized statue of the Roman god Bacchus as she holds onto the sculpture and pretends to kiss it.

5. Inventree Hotels & ResortsUnder the visionary leadership of Sudipta Deb, Inventree Hotels & Resorts has swiftly established itself as a prominent player in the hospitality sector since its inception in 2013 as Infallible Travel Concepts Pvt.

With many Canadian homeowners facing a sharp rise in mortgage payments, many of them have decided to bail, resulting in the highest number of Toronto housing units for sale in more than a decade and signaling a big drop in prices in the coming months.

Three events Wednesday highlighted the uneven progress of the offshore wind industry in the northeastern U.S. They include the start of the Sunrise Wind project in New York, research aimed at preventing environmental damage in New Jersey, and a tempora...

Angel City FC says Walt Disney Company CEO Bob Iger and Southern California dean for communication and journalism Willow Bay will be the new controlling owners of the National Women’s Soccer League team

Paris Olympics less than two weeks away, a question hangs over the Games: Will the Seine River be clean enough for athletes to swim in? Triathlon and marathon swimming are scheduled to take place in the Seine, where it has been illegal to swim for more than a century. Despite the city's efforts to clean up the long-polluted river, the water has tested unsafe for humans in recent weeks, and cleaner on other days. The Games run from July 26-Aug. 11. To clean up the river, Paris invested 1.4 billion euros ($1.5 billion) in building infrastructure to catch more stormwater when it rains — the same water that contains bacteria-laden wastewater that enters the river during periods of heavy rain and makes it unsafe to swim in. In May, Paris officials inaugurated a giant underground water storage basin next to the Austerlitz train station aimed at collecting excess rainwater and stopping wastewater from entering the Seine. The basin can hold the equivalent of 20 Olympic swimming pools of dirty water that will now be treated and is the centerpiece of major infrastructure improvements that the city has rushed to finish in time for the Games, but to also ensure that Parisians have a cleaner Seine in years to come.

pro-Palestine and pro-Hezbollah slogans and flags during a Muharram procession in Srinagar on Monday. The case has been registered at Kothibagh Police Station in Srinagar under sections 223 and 152 of BNS and 13 of UAPA against unknown persons. «This is an open FIR and the investigation will establish who all were involved in this,» said an official.

Federal Reserve Governor Christopher Waller on Wednesday suggested that interest rate cuts are ahead soon as long as there are no major surprises on inflation and employment.

spectrum in the 900 Mhz band in Kolkata, telecom operator Vodafone Idea (Vi) announced expansion of a new technology in 3000 sites across the city to enhance network infrastructure. This expansion is part of Vi's broader strategy to upgrade its network infrastructure, following a successful Rs 18,000 crore Follow-on Public Offering (FPO). This upgrade aims at providing a stronger indoor coverage experience for users, with superior calling and faster data speeds, Vi said in a statement. Vi has also acquired additional spectrum in the recently concluded spectrum auction, committing Rs 31 crore for 0.4Mhz of spectrum in the 900 Mhz band in Kolkata Circle and Rs 376 crore for 7.6 Mhz of spectrum in the 900 Mhz band in West Bengal Circle.