Citi Financial News

This is part of a special series of articles by the country's foremost voices, ahead of Union Budget 2024, aiming to draw attention to the critical reforms that can help India in its journey to become a developed nation by 2047. To be a catalyst for India’s ambition of becoming one of the top three global economies by 2050, the manufacturing sector must adopt a sustainable and inclusive model that decouples growth from emissions for a developing economy of this scale. This will lower our total cost of societal development.

This is part of a special series of articles by the country's foremost voices, ahead of Union Budget 2024, aiming to draw attention to the critical reforms that can help India in its journey to become a developed nation by 2047. It is now proven beyond doubt that India needs a new imagination of how to govern her cities. The last decade finally saw the emergence of the city as a political agenda and a significant increase in investments in urban infrastructure and services. But the narrowly focused, mission- and scheme-led development of our cities across both the Union and state governments is not delivering the desired results.

Jade City, a real-world asset (RWA) platform, is planning to launch its token by the end of the year, with the firm aiming to change the way precious commodities are accessed and traded.

The 33.5 km line will run from Aarey Colony to Cuffe Parade and will have 27 stops. The new line is set to transform urban transit in Mumbai, making travel easier across the city's streets and cutting down traffic congestion, the post further said. Mumbai is set for a transformative change in its transportation network with the launch of its first underground metro line in July.

Viksit Bharat. This approach will strengthen India’s global competitiveness by driving rapid decarbonization and digitization across the entire economy. This can help India leapfrog to the global production frontier and enable us to compete successfully with the world’s leading economies such as the US and China.

The Mirage is about to vanish from the Las Vegas Strip

Hong Kong’s innovation minister says the government is testing its own ChatGPT-style tool for its employees, with plans to eventually make it available to the public, after OpenAI decided to take extra steps to block access from unsupported regions lik...

New Jersey’s casinos saw their sports betting revenue decline by nearly 24% in June, and sports betting revenue overall in the state declined by 9.5%

Though infrastructure is financed jointly by central, state and local governments through grants and transfers, the operational and maintenance costs must be met by the cities. However, these cities are already struggling with limited municipal revenues. Accordingly, the basic urban infrastructure in India is poorer than those in the OECD and BRICS nations.

The pet rail project of Mexican President Andrés Manuel López Obrador could wind up costing as much as $30 billion

Indian national was among six people killed in a rare shooting attack by Islamic State militant group near a Shia Muslim mosque in Oman's capital. The shooting on Monday night near the Imam Ali Mosque also claimed the lives of one policeman and four Pakistan nationals, while injuring 28 others. «Following the shooting incident reported in Muscat city on July 15, Foreign Ministry of Sultanate of Oman has informed that one Indian national has lost his life & another is injured,» Embassy of India in Muscat posted on X Tuesday. «Embassy offers its sincere condolences & stands ready to offer all assistance to the families,» it said.

Thousands of Philadelphia city employees are back in their offices full time after a judge rejected a union’s request to block Mayor Cherelle Parker’s requirement that they return

From the moment Anant and Radhika were in Jamnagar, the city enveloped them in a festive atmosphere. The airport was decorated with vibrant floral arrangements and traditional banners that added a touch of grandeur to the occasion.

US interest rates in September as inflation cools. In late afternoon London deals, gold soared 1.7 percent to touch $2,463.80 per ounce, crushing its previous pinnacle of $2,450.07 reached in May.

Car services and repair platform GoMechanic, which was on the verge of collapse about a year-and-a-half ago, on Tuesday said it achieved operational profit in the June 2024 quarter under the new management. The company was acquired by Servizzy, a subsidiary of the Lifelong Group, in March 2023 after anomalies in its financial records were found under previous management and the firm was put on sale by the investors. Under the new management, GoMechanic has posted a revenue of Rs 210 crore in the financial year 2023-24 and a revenue of Rs 85 crore in the April-June 2024 quarter.

Many Americans think they're insulated from the effects of global warming. But climate change is already having negative and broad impacts on household finances, according to experts.

The Bahnsen Group founder and CIO David Bahnsen surveys the real estate market as younger homebuyers struggle with the ongoing housing crisis. 

Bengaluru, India – (July 16, 2024) – RSM US LLP (“RSM") – the leading provider of assurance, tax and consulting services for the middle market – is pleased to announce the opening of its new Bengaluru, India office. The new office will be on the 3rd floor of Rosewood Block, Manyata Embassy Business Park.This strategic expansion represents RSM's continued commitment to long-term growth in India.

import of precious metals from the UAE under a free trade agreement with India. GTRI demanded an investigation, citing the negative impact on the domestic jewellery industry and potential annual revenue loss for India, PTI reported. The key issue centers around the India-UAE Comprehensive Economic Partnership Agreement (CEPA) that permits unlimited imports of gold, silver, platinum, and diamonds from the UAE into India with zero tariffs in the coming years. GTRI's report highlighted that addressing these issues is crucial to ensure the integrity of import practices, safeguard domestic industries, and prevent significant revenue losses. The report noted that the zero-tariff policy under CEPA could cause an annual revenue loss of Rs 63,375 crore due to duty-free imports of gold and silver, based on FY2024 import levels. This policy is also likely to shift import business from banks to a few private traders and replace top suppliers with Dubai-based firms.

₹92 crore ($11 million) in a pre-Series A funding round—that gave the company a post money valuation of $55 million—led by early-stage investors such as Blume Ventures, and Antler. Google also participated in the round. The latest fundraise marks the company's first external capital raise since its inception in November 2022.

National Convention, security around the venue and the city of Milwaukee has been increased. This comes immediately after the attempted assassination on the presumptive presidential nominee from the Republican Party. Trump was shot at by Tom Crooks in Butler in the state of Pennsylvania. He survived the assassination attempt by a whisker. Many are describing this arrangement as a ring of steel and there will be a multi-layer security. The entire venue of the convention has been secured and the city is also under a thick layer of security. Further, the residents of this small town have mixed feelings about this increased security.