Citi Financial News

Citibank's latest forecast means it expects a total of 100 basis points in rate cuts for the year, in line with those predicted by JPMorgan and Nomura. The Reserve Bank of India cut the repo rate by 25 basis points to 6.25% in February, its first in nearly five years. The 27% tariff imposed by the U.S. on Indian imports could impact GDP growth in 2025-26 by close to 40 basis points, Samiran Chakraborty, Citi's chief India economist, said in a report. «If these tariffs lead to a material global growth slowdown, then potentially that could impart a larger negative effect on India's exports,» Chakraborty said. «Also, we are worried that persistent uncertainty around continuously negotiated tariffs could depress private investment intentions and affect GDP growth too,» he said.

Subscribe to enjoy similar stories. In the sprawling suburbs of Bengaluru rises El Dorado, a city of gold in legends but now an upcoming township. For developer Brigade Group which tagged its launch campaign as #StrikeGold, the name signals the rich potential of the project, the largest in the city's Bagalur special economic zone.

New India Cooperative Bank's former chairman Hiren Bhanu and his wife Gauri Bhanu as proclaimed offenders in connection with the Rs 122 crore embezzlement case, a police official said on Thursday. The Bhanu couple fled the country separately days before the embezzlement case came to light in February. The Economic Offences Wing (EOW) of the city police, which is probing the case, has so far arrested eight persons, including the bank's former General Manager Hitesh Mehta and former CEO Abhimanyu Bhoan. «The EOW had moved an application before the court seeking that Bhanu and his wife be declared as proclaimed offenders. The court has accepted the plea,» an official told PTI. The court had earlier issued a non-bailable warrant against the duo, he said. While Hiren Bhanu fled the country on January 26, his wife and the bank's former vice-chairperson Gauri Bhanu left on February 10, just a few days before the scam came to light. «As both of them are out of the country, and finding their location was necessary for the probe, a Blue Corner Notice was issued against them earlier,» the official said.

New Delhi: As the monsoon recedes, a familiar chill settles over northern India, heralding the festive spirit of winter and a concerning rise in air pollution. This annual tale of festivities intertwined with hazardous air quality has become a public health emergency, not just in Delhi NCR but across numerous Indian cities.

Subscribe to enjoy similar stories. It wasn’t an April Fool’s Day joke after all. As soon as the invite to Vivienne Westwood’s 1 April show in Mumbai landed as a WhatsApp text, many thought it was a prank.

NHAI will develop a 121-km-long Guwahati Ring Road on build-operate-toll mode at a total cost of Rs 5,729 crore, an official statement said on Thursday. The statement further said the concession period of the contract is 30 years, including the construction period of four years. «Providing impetus to the project, the state government of Assam will bear 50 per cent of land cost, provide exemption from royalty on aggregates and state portion of GST contributing about Rs. 1,270 crore,» it said, adding that thus, the gross project cost is about Rs 7,000 crore. The Guwahati Ring Road project will have three sections which include 56 km long 4-lane Access-Controlled Northern Guwahati Bypass, widening of the existing 8 km bypass on NH 27 from four lanes to six lanes, and improvement of existing 58 km long bypass on NH 27. Notably, a 3 km long major bridge over river Brahmaputra will also be constructed as a part of the project. The Guwahati Ring Road will provide seamless connectivity to long-distance traffic plying on the East-West Corridor of NH-27, which is the gateway to North-East Region of the country. The development of the Ring Road will help to decongest Guwahati City and neighboring North- Eastern states by bypassing major traffic coming from West Bengal/Bihar to Silchar, Nagaland and Tripura.

Mumbai Police have prohibited the flying of drones, remote-controlled microlight aircraft, paragliders, and hot air balloons in the city for a month to prevent potential sabotage attempts. The ban, issued under Section 163 of the Bharatiya Nagrik Suraksha Sanhita, will be in effect from April 4 to May 5, officials said on Thursday.

Federal immigration enforcement officials have arrested 37 people in a raid at a roofing business in northern Washington state

Mahindra Lifespace Developers shares will be in focus on Thursday after the company secured two housing redevelopment projects in Mumbai, expecting a revenue of Rs 1,200 crore. In a regulatory filing on Wednesday, Mahindra Lifespace informed that the company has been «appointed as the preferred partner for the redevelopment of two residential societies in the Lokhandwala Complex, Andheri West, Mumbai, with a project value of approximately Rs 1,200 crore.

Myanmar's ruling military declared a temporary ceasefire in the country's civil war Wednesday to facilitate relief efforts following a 7.7 magnitude earthquake that has killed more than 3,000 people. The surprise announcement by military leaders who also head the unelected government came late Wednesday on state television MRTV, which said the halt in fighting would run until April 22 to show compassion for people affected by Friday's quake. The announcement followed unilateral temporary ceasefires announced by armed resistance groups opposed to military rule, and the military warned that those groups must refrain from attacking the state and regrouping, or else face «necessary» measures. The resistance forces have also reserved the right to fight in self-defense. Earlier Wednesday, rescuers pulled two men alive from the ruins of a hotel in Myanmar's capital, a third from a guesthouse in another city, and another in the country's second city, Mandalay, five days after the quake. But most teams were finding only bodies.

Carlos Duran moved to the Oakland Athletics when the team acquired outfielder Esteury Ruiz from the Los Angeles Dodgers. The Oakland Athletics designated 26-year-old Ruiz for assignment before completing his transfer to Triple-A Oklahoma City. The Dodgers added Esteury Ruiz from the Athletics after moving Kyle Hurt to the 60-day injured list to recover from his Tommy John procedure.

Kansas City Chiefs star’s most recent revelation has fans buzzing. Travis Kelce believes his high-profile romance with Taylor Swift has influenced his game. After a disappointing season and Super Bowl loss, he's taking a break from the spotlight. With both enjoying some downtime, the couple is focusing on resting and reconnecting away from public scrutiny. Travis and Taylor have come to the realization that «so much attention on their relationship is not the best thing,» according to US Weekly. The couple is taking a much-needed break from their hectic public life, which Kelce believes may have contributed to his on-field difficulties the previous season.

MRTV, which said the truce would run until April 22 and was aimed at showing compassion for people affected by Friday's quake. The announcement followed unilateral temporary ceasefires announced by armed resistance groups opposed to military rule. Those groups must refrain from attacking the state, or regrouping, or else the military will take «necessary» measures, the army's statement said. Earlier Wednesday, rescuers pulled two men alive from the ruins of a hotel in Myanmar's capital and a third from a guesthouse in another city, five days after the quake. But most teams were finding only bodies. The quake hit midday Friday, toppling thousands of buildings, collapsing bridges and buckling roads. The death toll rose to 3,003 on Wednesday, with more than 4,500 people injured, MRTV reported. Local reports suggest much higher figures. The earthquake came amid civil war in Myanmar, making a dire humanitarian crisis even worse. More than 3 million people had been displaced from their homes and nearly 20 million were in need even before it hit, according to the United Nations.

Mahindra Lifespace Developers Ltd has bagged two projects for the redevelopment of housing societies in Mumbai and is expecting a revenue of Rs 1,200 crore. In a regulatory filing on Wednesday, Mahindra Lifespace informed that the company has been «appointed as the preferred partner for the redevelopment of two residential societies in the Lokhandwala Complex, Andheri West, Mumbai, with a project value of approximately Rs 1,200 crore. The project will be pursued under the state's cluster development scheme.

ITA Airways has officially received approval to start the integration process into Star Alliance following a verdict by the Star Alliance Chief Executive Board (CEB). Building on its induction into the Lufthansa Group earlier this year, this decision paves the way for its entry into the world’s largest airline alliance. “In early 2026, ITA Airways is expected to officially join the Star Alliance network as a full member. The decision by our Chief Executive Board underscores the strong confidence our members have in ITA Airways. As a gateway for Italy, its addition strengthens our global network, offering seamless and connected journeys to more travellers worldwide," said Star Alliance Chief Executive Officer Theo Panagiotoulias . Joerg Eberhart, CEO and General Manager of ITA Airways, said, “We are excited to join the Star Alliance network and to bring the excellence of Made in Italy into the alliance, further enhancing its global reach. This is a significant milestone in ITA Airways’ growth, and we look forward to offering our customers the future privileges of the world’s largest airline network."

Neworld Developers, a Gurugram based realty company is targeting Rs 5,000 crore revenue over the next five years from multiple projects across Haryana and Goa, a senior executive said. With a focus on delivering integrated townships, villas, resorts, and hospitality-linked developments, the company’s first project will be in Goa and will be launched in May 2025. The project, which is near to the MOPA airport, has already received all necessary approvals under state regulations, including the NA (Non-agricultural) registration and Occupancy Certificate (OC), ensuring transparency and reliability for homebuyers.

Securities and Exchange Board of India (Sebi) has given workspace solutions provider IndiQube the green light for its initial public offering (IPO). The company, which is backed by WestBridge Capital, had filed a draft red herring prospectus (DRHP) last December seeking to raise Rs 850 crore through the IPO. This comprises Rs 750 crore in fresh capital and Rs 100 crore in an offer for sale. Founders Rishi Das and Meghna Aggarwal plan to sell shares worth Rs 100 crore through the offer-for-sale segment. According to online news platform Entracker, IndiQube intends to use Rs 427 crore of the fresh funds on capital expenditure, Rs 100 crore to repay or prepay existing loans, and the rest on general corporate activities.

Subscribe to enjoy similar stories. The Maharashtra government has increased ready reckoner (RR) rates for FY26 after a gap of two years. RR rates, also known as circle rates, are the state government's estimates of the minimum property prices in an area.

Asian stocks edged lower as traders grapple with how to position themselves in the countdown to President Donald Trump’s sweeping tariffs announcement. A regional gauge declined as indexes in Japan and South Korea dropped at the open. Treasury yields advanced after a multi-day drop as traders weighed the odds of Federal Reserve policy easing.

Harrison Ford and Calista Flockhart used public transport in New York City on Monday. They were seen walking in the Upper West Side before heading to a subway station.

Live with Kelly and Mark aired its final episode from its original studio on the Upper West Side of New York City, marking the end of an era after 37 years. The morning show concluded its era at the studio as Kelly Ripa and Mark Consuelos expressed deep emotions about leaving their current work environment.