Citi Financial News

China's premier called Tuesday for countries to «oppose decoupling», as economic tensions simmer between Beijing and the West, and the European Union prepares to impose new tariffs on Chinese electric vehicles. Friction between the West and the world's second-largest economy has intensified in recent years, particularly as Beijing and Washington compete for supremacy in advanced technology and new «green» industries. «We should broadly open our minds, work closely together, abandon camp formations, (and) oppose decoupling,» said Li Qiang, China's second-ranking leader, who has been tasked by President Xi Jinping with managing economic affairs.

gold in the last one week has been -1.72% whereas in the last month it has been -0.96%.The cost of silver is Rs.88690.0 per kg down by Rs.160.0 per kg. Gold Price Today in Delhi is ₹73532.0/10 grams. Yesterday’s Gold Price on 25-06-2024 was ₹74492.0/10 grams.

In May, the International Financial Services Centres Authority, or IFSCA, the unified financial sector regulator at Gift City, sent a clutch of recommendations to the central government. One suggestion was to bring parity in the taxation of funds set up in Gift City with that applicable for domestic mutual funds.

Yemen's Houthi rebels early Wednesday targeted a ship in the Gulf of Aden and the southern Israeli port city of Eilat, authorities said. The attacks follow the departure of the USS Dwight D. Eisenhower after an eight-month deployment in which the aircraft carrier led the American response to the Houthi assaults. Those attacks have reduced shipping drastically through the route crucial to Asian, Middle East and European markets in a campaign the Houthis say will continue as long as the Israel-Hamas war in the Gaza Strip rages. The ship attack happened off the coast of Aden, the British military's United Kingdom Maritime Trade Operations center said.

dollar was firm on Wednesday and trading on the precipice of the 160 yen barrier as investors turned cautious and counted down to the release of U.S. price data at the end of the week. The euro eased marginally overnight and was steady at $1.0708 in Asia trade. At 159.71 per dollar, the yen's level has markets on alert since that is only a whisker shy of where Japanese authorities likely stepped in to buy yen in April.

Certuity, the multi-family office with locations in New York City, North Palm Beach, Manhattan Beach, and Santa Monica, has enriched its leadership with a veteran C-suite hire.

Rescue workers are combing through the charred ruins of a factory building near South Korea's capital to find any more victims of a fire that killed 22 people, mostly Chinese migrant workers

Canada’s Conservative Party won a special election in a district in central Toronto, dealing a substantial blow to Prime Minister Justin Trudeau’s Liberal Party ahead of a national vote expected next year.

Travis Kelce has revealed candid, heart-warming details about the dating with Eras Tour singer. Kansas City Chiefs superstar Tight End and 14-time Grammy winner hogged all the limelight due to their romantic relationship, Eras Tour, NFL games, and Super Bowl. 34-year-old three-time Super Bowl champion Kelce has said that he tried to share number with American Pop sensation Swift during a concert of Eras Tour. The plan initially was unsuccessful.

CNG systems during manufacturing, Honda will reportedly provide these kits through its dealerships as aftermarket add-ons. This approach allows flexibility for customers to retrofit CNG capabilities onto both manual and CVT transmission versions of the aforementioned models.Reportedly, the CNG conversion is likely to be priced between ₹75,000 to ₹85,000 inclusive of installation, and will include a one-year warranty from Honda dealerships, ensuring peace of mind for buyers.

₹12,000-14,000 crore in the next 2-3 years developing commercial office, residential, and hotel projects, said a top company executive. Around 40% of the planned investment will be deployed in office projects, 50% in housing development, and 10% in hotel projects across existing cities it operates in, such as Bengaluru, Pune, and Hyderabad. It is also set to enter two new property markets - Chennai and Mumbai, Sattva Group's managing director Bijay Agarwal told reporters.The investment will be financed through a combination of equity, debt and internal accruals like sales.

Top Gainers: Axis Bank (up 3.40%), ICICI Bank (up 2.48%), HDFC Bank (up 2.32%), Tech Mahindra (up 1.80%), and Larsen & Toubro (up 1.56%).Top Losers: Power Grid Corporation Of India (down 1.64%), Tata Steel (down 1.24%), Asian Paints (down 1.16%), Nestle India (down 0.56%), and Maruti Suzuki India (down 0.52%).Top Gainers: Shriram Finance (up 3.73%), Axis Bank (up 3.53%), ICICI Bank (up 2.38%), HDFC Bank (up 2.33%), and HDFC Life Insurance Company (up 1.98%).Top Losers: Bharat Petroleum Corporation (down 2.93%), Eicher Motors (down 1.97%), Power Grid Corporation Of India (down 1.67%), Asian Paints (down 1.30%), and Tata Steel (down 1.28%).Top Gainers: HDFC Asset Management Company, L&T FINANCE, Indian Hotels Company, Alkem Laboratories, and MRF.Top Losers: Oberoi Realty, NMDC, Bandhan Bank, Suzlon Energy, and Tube Investments Of India.Top Gainers: Raymond, JBM Auto, Olectra Greentech, City Union Bank, and Nippon Life.Top Losers: Happiest Minds Technologies, Mangalore Refinery & Petrochemicals, Creditaccess Grameen, Navin Fluorine International, and Chambal Fertilisers & Chemical.Top Gainers: Raymond (up 7.43%), Godrej Agrovet (up 6.83%), Welspun Corp (up 5.74%), Lakshmi Machine Works (up 5.48%), and Patanjali Foods (up 5.01%).Top Losers: Happiest Minds Technologies (down 9.44%), Macrotech Developers (down 4.77%), United Breweries (down 4.23%), Indiabulls Real Estate (down 3.96%), and Mangalore Refinery & Petrochemicals (down 3.87%).Top Gainers: Raymond (up 6.46%), Welspun Corp (up 5.74%), Westlife Development (up 4.96%), LIC Housing Finance (up 4.90%), and Patanjali Foods (up 4.70%).Top Losers: Happiest Minds Technologies (down 9.46%), Macrotech Developers (down 4.43%), United Breweries (down 4.14%), Oberoi Realty (down

New York City is the world’s most-congested urban area for the second year in a row, costing the city an estimated $9.1 billion in lost time, a new report shows.

Forensic and other experts are combing through the charred ruins of a factory building near South Korea’s capital to find the cause of a fire that killed 23 people, mostly Chinese migrant workers

Citi Country Officer for India and Head of Banking for Indian Sub-Continent. Shah has been entrusted with the responsibility of providing strategic financial support to Khullar.Ashu Khullar said Shah’s appointment as the CFO, which comes with his experience in operations, would boost Citi Bank’s financial leadership. “Jeegar's deep knowledge of our operations in India and proven track record in financial management make him exceptionally qualified for this critical role," said Ashu Khullar.

Jubilant FoodWorks with a target price of ₹490 (13 percent downside) and Accumulate on Westlife Foodworld with a target price of ₹817 (3 percent downside).The Quick Service Restaurant sector in India has traditionally been dominated by multinational giants like McDonald’s, Domino’s, Burger King, and Pizza Hut, which have established strong brand loyalty over the years. Despite their success, these brands only penetrate around 425 cities in India, leaving ample room for growth in a country with a large and aspirational youth population, noted PL.It further highlighted that local competition is intensifying within the QSR space, as many homegrown brands ambitiously expand nationally, offering burgers and pizzas with unique flavors at competitive prices.

Tamil Nadu Minister Udayanidhi Stalin was granted bail on Tuesday by a city court for his 'eradicate Sanatana Dharma' remark. The DMK leader appeared before the 42nd Additional Chief Metropolitan Magistrate following a notice to him based on a petition by social activist Paramesh for his remark. Udayanidhi Stalin, who holds sports and youth affairs portfolio, got the bail with a surety of Rs one lakh. The case has been posted to August 8.

workspace operator India Accelerator has added 250,000 sq ft across 7 centres in Pune, Gurugram and Noida. The company has added 3200 seats in Noida, 900 seats in Gurugram and 400 seats in Pune. With presence in multiple locations, India Accelerator has grown its portfolio to over 200 startups. This expansive network enables startups to benefit from shared knowledge, resources, and collaboration opportunities, driving innovation and success across the board. «This expansion with an investment USD 4 million will enable us to cater to a wider audience of innovators, creators, and entrepreneurs, providing them with the infrastructure and support they need to thrive,” said Abhay Chawla, co-founder and COO, IndiaAccelerator.

Vietnamese automaker VinFast has a big problem: It just can’t sell enough cars

In a recent interview to The Indian Express, G. Hari Babu, national president of National Real Estate Development Council (Naredco)—a real estate industry association—shared some interesting data: “There are 1.14 crore flats lying vacant in India. These are being bought as investment opportunities." This is not the first time such a comment has been made.

Touted among the most spirited and colourful countries around the world, the Republic of Korea, or South Korea, effortlessly fuses its unique culture, immersive experiences, and innovative technology with great balance.