Citi Financial News

India is likely to see retail digital payments double to USD 7 trillion by 2030 from current levels, a study by Kearney and Amazon Pay said. In the report 'How Urban India Pays', Kearney-Amazon Pay said strong adoption of digital payments in online purchases has potentially led to a permanent shift in consumer behaviours, fuelling offline adoption as well. While 90 per cent of the respondents of the survey preferred digital payments when making online purchases, affluent consumers lead the way with the highest Degree of Digital Payment Usage (DDPU), tending to use various modes of digital payment for 80 per cent of their transactions. «Millennials and Gen X are leading in the adoption of all types of digital payment instruments,» it said. «Men and women both use digital payments in about 72 per cent of their transactions, indicating gender parity.»

PC Jeweller Ltd plans to raise up to Rs 2,705 crore by issuing warrants on a preferential basis to promoters and investors, mainly to settle bank loans and for working capital requirements. Promoters will infuse around Rs 850 crore into the company by subscribing to warrants issued by the company. In a regulatory filing on Saturday, PC Jeweller informed that its board has approved the proposal to raise funds up to Rs 2,705.14 crore by preferential issue of fully convertible warrants.

Signature Global will launch multiple housing projects with a revenue potential of around Rs 13,000 crore by March next year to expand business and encash strong demand. Signature Global Chairman Pradeep Kumar Aggarwal said, «We have launched one housing project worth around Rs 3,000 crore in the first quarter of 2024-25. We have a strong launch pipeline for the remaining three quarters». «We are looking at launching more housing projects in Gurugram, Manesar and Sohna belt. These upcoming projects will have a revenue potential of around Rs 13,000 crore,» he added. Gurugram-based Signature Global, which got listed on the stock exchanges last year, is one of the leading real estate developers in the country.

Paris is hosting an extra-special guest for France's national holiday Sunday — the Olympic flame lighting up the city's grandiose military parade for Bastille Day. Just 12 days before the French capital hosts exceptionally ambitious and high-security Summer Games, the torch relay is joining up with thousands of soldiers, sailors, rescuers and medics marching in Paris beneath roaring fighter jets to mark Bastille Day. While people around France mark the day with concerts, parties and fireworks, here's a look at what the holiday's about, and what's different this year: What does Bastille Day celebrate?On July 14, 1789, revolutionaries stormed the Bastille fortress and prison in Paris, heralding the start of the French Revolution and the end of the monarchy.

large scale projects in less than five years since 2014 against 6 years before that as modernisation of construction technology and implementation of Real Estate Regulatory Authority (RERA) has ensured homebuyers are getting the home in time. According to Anarock data, the average time taken to complete smaller projects of less than 500 units in the top 7 cities was 4 years, and 4.9 years for large projects of more than 500 units each. Market share of large and listed developers, has also increased significantly, which has contributed to timely delivery of the projects.

₹538 per month per head on processed food items. This trend is not just about eating habits, but has also helped drive sales for fast-food giants, whose processed food sales are steadily rising. The flood of fast-food joints across cities has made the trend even starker.

Mumbai rains LIVE Updates: The Regional Meteorological Department (RMC) issued a yellow alert for Mumbai and Palghar. RMC in its weather report stated, “Heavy to very heavy rainfall in a few places with extremely heavy rainfall at isolated places very likely."Meanwhile, red alert for heavy showers is in place for four districts of Maharashtra including Satara, Kolhapur, Sindhudurg and Ratnagiri.

The misery of Houston’s lasting power outages extend beyond the big city and onto surrounding farms and ranches, where everything from animal bedding to feed is harder to come by since Hurricane Beryl turned off the lights

Vending machines selling ammunition are now appearing in grocery stores across Alabama, Texas, and Oklahoma, stirring mixed reactions from officials in these states, CNN reported. American Rounds, the company behind these machines, uses AI technology for customer identification. According to their website, the machines use both ID scanning and facial recognition software to confirm a customer's identity. This ensures that the buyer's age is verified and that the person using the machine matches the scanned identification. These vending machines offer ammunition for a variety of firearm calibers, including rifles, shotguns, and handguns, as stated by American Rounds. Grant Magers, CEO of American Rounds, mentioned that local grocery stores had approached him in the spring of 2023 about using his technology to sell ammunition. The company's first machine was installed in Alabama last November.

Tata Motors has recently unveiled a tantalizing sneak peek into their upcoming models, the Curvv and Curvv EV, with a captivating teaser. Following their initial teaser set amidst the scorching heat of the Thar desert, this latest glimpse showcases these SUVs braving the chilly environs of Ladakh.The teaser highlights several noteworthy features of the Curvv siblings, including the presence of paddle shifters for manual gearbox control and a rotary dial to seamlessly switch between City, Sport, and Eco driving modes.

A pair of government regulators slapped Citigroup with a $135.6 million fine on Wednesday, saying the bank has made insufficient progress in resolving longstanding internal control and risk issues

Rent growth has stalled overall in recent months in Canada, with some of the country’s most expensive cities seeing annual declines in asking rents while other rental markets continue to see prices soar.

gig economy, tier-one cities led in short-term blue-collar employment opportunities, accounting for 67.1 per cent openings from June 2023 to June 2024, a report said on Saturday. These tier-I cities, which have a large concentration of gig working opportunities, saw 63.11 per cent job applications originating from these urban hubs, a report by tech-enabled blue-collar workforce recruitment platform WorkIndia said. Tier-II cities saw 26 per cent of such job openings and accounted for 25 per cent of applications, indicating balanced growth potential, the report said. However, tier-III cities exhibited a lower proportion of job openings (6.7 per cent) compared to 11 per cent applications, hinting at heightened competition amidst an oversupply of gig workers, the report stated.

Tata Consultancy Services (TCS) will announce its results on Thursday along with 16 other companies. Some of the marquee results to watch out for on Thursday include that of Akme Fintrade, Anand Rathi Wealth, Vivid Mercantile, DRC Systems, RO Jewels, SM Auto Stamping, Shree Jayalakshmi, Stellant Securities, GNA Axles, GTPL Hathway, Amal Ltd, Marble City India among others.

Prime Minister Narendra Modi has initiated a monumental Rs 29,000 crore investment drive in Mumbai, encompassing crucial projects in the road, railways, and ports sectors. This initiative is part of a broader vision to elevate Maharashtra as a global financial powerhouse, with Mumbai poised to become a leading fintech capital. Prime Minister Narendra Modi said that as per a report by the RBI, eight crore new jobs were made available in the country in the last three to four years. Modi was speaking at an event in Mumbai's Goregaon suburb after launching and laying the foundation stone for Rs 29,000 crore projects in road, railway and port sectors in the city. «RBI recently published a detailed report on employment. As per the report, around eight crore new jobs were created in the last three-four years. This figure has silenced those spreading fake narrative on jobs,» Modi said.

Chandrashekhar Azad, MP and chief of the Azad Samaj Party, on Monday said the law and order in Uttar Pradesh has «collapsed» in the BJP rule. Azad, who arrived here to meet the family members of mob-lynching victim Fareed alias Aurangzeb and the bereaved family members who lost their loved ones in the Hathras stampede, said this while talking to reporters. «The mob lynching of the Muslim youth in the heart of the old city a fortnight ago, followed by the stampede in neighbouring Hathras is a clear pointer that the police force in Uttar Pradesh has lost the moral right to serve the common people because in both cases innocents are being framed by the police, while in both cases the guilty are moving scot-free,» he alleged. Referring to the mob-lynching incident in Aligarh on June 18, Azad claimed family members of the deceased told him the victim had 22 broken bones and the entire sequence was captured in the CCTV in which the victim was beaten to death by steel and iron rods.

2K Games has revealed the cover stars for NBA 2K25. Boston Celtics' rising star and NBA champion Jayson Tatum graces the Standard Edition cover, joined by WNBA standout A'ja Wilson from the Las Vegas Aces.

In the former mining town at the heart of French far-right leader Marine Le Pen’s political strategy, her party’s electoral success came as no surprise to hundreds of supporters who gathered to see her victory speech

credit cards, and the latest data on delinquencies and expenditures showed they remain relative stragglers in a revenue stream dominated by privately owned banks. But, at the same time, the state-run players are learning the tricks of the trade — and have a very limited value at risk. For PSU banks, non-performing assets (NPAs) of credit cards outstanding are the highest among all retail sub-sectors — at 11.3% — as of March 2024. The comparative figure is about 2% for private sector and foreign banks, Reserve Bank of India data showed.

China has added Shanghai to a list of top-tier cities allowing the use of driverless robotaxis in which no safety supervisors are present, part of the country’s efforts to take the global lead in autonomous driving and commercialize the technology. Shanghai officials said over the weekend that in parts of the city, residents can now book free rides in robotaxis of four companies—internet search giant Baidu, SAIC Motor-owned Saike Technology and self-driving startups Pony.ai and Auto X. The taxis are driverless and don’t have supervisors physically present in the car, with the companies approved to offer services through Jan.

Iraq after being convicted for committing various crimes in Iraq and Syria when the terror organization headed by her husband occupied large parts of the Levant region. According to the Supreme Judicial Council, a criminal court in Karkh convicted a woman who has been identified as Asma Mohammed for working in a terror organization and detaining Yazidi women. The first wife of the slain commander of the Islamic State of Iraq and Syria (ISIS) is also known by the name of Umm Hudaifa.