Citi Financial News

Netaji Subhas Chandra Bose International (NSCBI) airport here on Monday after a 21-hour suspension in the wake of severe cyclone Remal, at least eight flights had to be diverted to other cities because of adverse weather conditions. «So far, eight flights bound for Kolkata had to be diverted to other airports such as Guwahati, Gaya, Varanasi and Bhubaneswar due to bad weather,» an AAI spokesperson said. The first departure from the city was IndiGo's flight to Port Blair at 8.59am, he added. Kolkata airport director C Pattabhi said that no infrastructure suffered any damage due to the natural calamity.

Gaza city of Rafah, officials said on Monday, prompting an outcry from global leaders who urged the implementation of a World Court ruling to halt Israel's assault. In scenes grimly familiar from a war in its eighth month, Palestinian families rushed to hospitals to prepare their dead for burial after the strike late on Sunday night set tents and rickety shelters ablaze.

₹50 crore in a mix of equity and debt to expand its presence in India's wedding and occasion-wear market. The funding was led by Sangita Jindal, chairperson, JSW Foundation.

Indian commodities tycoon Anil Agarwal’s Vedanta Ltd. is considering a share sale as soon as the coming weeks that could raise as much as 85 billion rupees ($1 billion), people with knowledge of the matter said. Vedanta is working with advisers including Axis Bank Ltd. subsidiary Axis Capital and Citigroup Inc. on the offering, the people said. It has started gauging interest from potential investors including Middle Eastern funds, according to the people, who asked not to be identified because the information is private.

Rafah on Sunday night, killed two senior Hamas commanders after targeting a Hamas compound, reported The Times of Israel. The Israeli attack followed Hamas's first rocket attack on the Israeli city of Tel Aviv in months, reported Al Jazeera. The Israeli airstrikes claimed the lives of 35 people and two senior Hamas commanders, injuring a dozen others in a blaze caused in a camp housing displaced civilians, according to The Times of Israel, citing Hamas health authorities.

Karnataka's Deputy Chief Minister DK Shivakumar has written to the BBMP Commissioner instructing him to implement fail-safe measures in recreational places across the city as soon as possible and make periodic checks mandatory to avoid fire mishaps, Hindustan Times reported.The directive comes as a precautionary measure to ensure the safety of visitors in the city’s numerous gaming centres after a tragic fire accident at Rajkot’s TRP Game Zone killed 27 people, including four children.Issuing an urgent alert to all gaming arcades in Bengaluru, DK Shivakumar addressed a letter to the civic body emphasizing the importance of stringent safety protocols in high-traffic entertainment spaces. “Adherence to appropriate safety measures and precautions is of utmost importance for the prevention of untoward fire disasters in high-traffic entertainment spaces like shopping malls, gaming, and adventure zones across Bengaluru.

Shares of China Evergrande New Energy Vehicle Group more than doubled on Monday as trade resumed after the company said liquidators had agreed on behalf of key shareholders to sell a stake in the electric vehicle (EV) maker. Shares of embattled developer China Evergrande's EV unit soared as much as 113% to HK$0.81, their highest since September 22, becoming the top gainer on the Hong Kong bourse, and last stood up 79%, following the May 17 trade halt.

doctors from Sasson Hospital in the luxury car accident case where two motorcycle-borne persons were killed earlier this week in Pune city. As per the police, the doctors have been arrested on the charge of manipulating blood samples. The minor accused was taken to the hospital for a medical check-up on the day of the accident on May 19.

severe cyclonic storm 'Remal' makes landfall between Bangladesh and the adjoining West Bengal coast, the Indian Coast Guard said on Monday that it is closely monitoring the landfall of the cyclone with a disaster response team, ships, and hovercraft on standby at short notice to respond to post-impact challenges. The ICG further asked the people to follow official advisories, stay informed, and stay safe. «Update cyclone #Remal@IndiaCoastGuard is closely monitoring the landfall of cyclone #Remal with the disaster response team, Ships, and Hovercraft standby at short notice to respond to post-impact challenges. Follow official advisories, Stay informed, and stay safe,» the ICG posted on X.

online consumption across segments such as electronics, wearables and beauty products, as flagged by multiple listed companies and industry trackers. For the fourth quarter, logistics firm Delhivery said its express parcel shipments, a proxy for ecommerce delivery volumes, declined 13% sequentially to 176 million.

killed at least 35 people Sunday and hit tents for displaced people in the southern Gaza city of Rafah, and «numerous» others were trapped in flaming debris. Gaza's Health Ministry said women and children made up most of the dead and dozens of wounded. The attacks came two days after the International Court of Justice ordered Israel to end its military offensive in Rafah, where more than half of Gaza's 2.3 million population had sought shelter before Israel's incursion earlier this month. Tens of thousands of people remain in the area while many others have fled. Footage from the scene of the largest airstrike showed heavy destruction. Israel's army confirmed the strike and said it hit a Hamas installation and killed two senior Hamas militants. It said it was investigating reports that civilians were harmed. Defense Minister Yoav Gallant was in Rafah on Sunday and was briefed on the «deepening of operations» there, his office said.

In India, the real estate sector is witnessing rapid growth, and retail is emerging as a critical component of this expansion. Among various retail formats, high street retail is gaining significant traction, reshaping city landscapes and enhancing local economies. High street retail refers to premium shopping areas typically located in the heart of cities. These bustling streets are characterized by a mix of luxury boutiques, flagship stores of renowned brands, restaurants, cafes, and entertainment venues. Unlike enclosed malls, high street retail spaces offer an open-air shopping experience, often integrated with the city’s cultural and historical fabric.

Payal Kapadia etched her name into the history of Indian cinema when she won the Grand Prix at the Cannes Film Festival. Her Malayalam-Marathi-Hindi language film, ‘All We Imagine As Light’, beat stiff competition from such legendary directors as Francis Ford Coppola, Andrea Arnold, Mohammad Rasoulof, David Cronenberg and Jia Zhang-ke to land the coveted prize.

India sweated through a deadly heat wave that tested power grids and disaster preparedness of states on Sunday while Maharashtra's Akola imposed Section 144 until May 31, prohibiting public gatherings. A 'red' warning has been issued for Rajasthan, Punjab, Haryana, Chandigarh, Delhi, west Uttar Pradesh, and Gujarat, indicating a «very high likelihood» of heat illness and heat stroke for all age groups. Rajasthan's Phalodi was the hottest place in the country for the second consecutive day, recording a maximum temperature of 49.8 degrees Celsius. A day ago, the city hit 50 degrees Celsius — the highest temperature recorded in the country since June 1, 2019. The state has reported multiple heat-related deaths in the last three days.

New supply of affordable homes — priced up to Rs60 lakh each — declined 38% across eight major cities to 33,420 units during January-March this year, with builders focusing on developing luxury flats, according to PropEquity. Real estate data analytic firm PropEquity attributed the fall in new supply to sharp rise in land and construction costs, which has made development of affordable housing projects less profitable or unviable. According to PropEquity data, the fresh supply of such homes was 33,420 units during January-March 2024 across top eight cities against 53,818 in the year-ago period.

Radisson Hotel Group, the second biggest international chain in India by hotel network and room inventory, plans to open a new hotel every 20 days in the country this year, Nikhil Sharma, the chain’s new managing director, and area senior VP for South Asia told ET. Sharma said the chain, that aims to have a hotel at every two hours of driving distance in India, is also building its presence in religious destinations and will launch the first globally branded hotels in markets such as Vrindavan, Ujjain and Guruvayur. «People are visiting religious destinations far more than pre Covid times. We were the first to launch a branded hotel in Ayodhya before the Ram temple inauguration. The hotel clocked an average daily rate of Rs 1.15 lakh in the first month. It is still sold out on most days and the average daily rate is Rs 30,000 now,” said Sharma.

Balasore, a city in the coastal region of Odisha is quite different electorally from other parts of the state. This is one Lok Sabha seat, where the BJP has been stronger for the last 25 years. BJP won this seat consecutively in 1998, 1999 and 2004. But in the past three elections, Balasore has elected three MPs from three different parties. In 2009, it was Congress leader Srikant Jena; in 2014, it was Rabindra Kumar Jena of BJD and in 2019, BJP candidate Pratap Sarangi won this seat with a margin of 12,956 votes. Back to 2024, Sarangi is facing a triangular contest against Congress and BJD. Veteran Congress leader and former MP from the seat, Srikant Jena is challe.nging Sarangi's second term along with BJD candidate Lekhashree Samantsinghar.

ALSO READ: Remal cyclone: When and where will cyclonic storm make landfall? All FAQs answered hereIMD said, as quoted by news agency ANI, “Cyclone Remal over the North Bay of Bengal is to move northwards about 130 km southeast of Sagar Islands (WB), 140 km southwest of Khepupara (Bangladesh), 140 km southeast of Canning (WB), 160 km southwest of Mongla of Bangladesh and cross Bangladesh and adjoining West Bengal coasts by midnight today with a max wind speed of 110-120 kmph."With the ‘Cyclone Remal' to hit West Bengal coast, state Governor CV Ananda Bose chaired an emergency review meeting.ALSO READ: Cyclone Remal Alert! How India, Bangladesh are bracing for the year's first cyclone? Explained“As you know Cyclone Remal is expected any time. Bulletins are being issued from time to time and the whole of West Bengal is prepared.

Telangana for 10 years. After that, Andhra Pradesh can announce its new capital.

VK Saxena, who completed two years in office on Sunday, said that his tenure has been challenging since he assumed charge in 2022. Saxena said that various works in the national capital got stalled while the city continued to remain in a state of regression. «The last 2 years since I took over as LG have been challenging. In a City regressing due to various reasons, while we could achieve much visibly, there was much more that got stalled. There is far more that needs to be addressed and healed. I look forward and thank the people of Delhi from the bottom of my heart for their love, affection and support,» Delhi LG posted on X.

Zelenskyy warned Sunday that Russia is preparing to intensify its offensive along Ukraine's northern border, as the death toll rose to 14 in an aerial bomb attack on a large construction supplies store in the city of Kharkiv. The bombing of Kharkiv on Saturday afternoon also left 43 injured and 16 missing, Kharkiv Gov. Oleh Syniehubov said initially after the attack. In a video statement from Kharkiv, Zelenskyy said that Russia is preparing offensive actions 90 kilometers (55 miles) northwest of Ukraine's second largest city. He said that Russians «gather another group of troops near our border.»