Citi Financial News

Mint was the first to report NewQuest’s interest in the company. The $100 million raised includes about $50 million in primary capital, $18 million in venture debt, and the balance in secondary investments. The company has so far raised nearly $120 million from investors such as Eight Roads Ventures, US investment firm NGP Capital, Qualcomm Ventures and Mirae Asset Naver Fund, and Flipkart.

₹300 crore in a year would pay ₹18-30 crore to an operator for management services. These partnerships are often long-term, with most hotels signing contracts lasting 12-15 years. Many hotels are looking to largely brand hotels that are new developments or greenfield projects for their upcoming pipeline as opposed to brand conversions projects, which would account for just 20-30% of the pipeline.

Uttarakhand Finance Minister Premchand Aggarwal on Tuesday presented the state's budget of Rs 89.23 thousand crore for the fiscal year 2024-25. Finance Minister Agarwal presented the budget in the assembly in the presence of Uttarakhand Chief Minister Pushkar Singh Dhami. In his address, Finance Minister Premchand Aggarwal outlined the key principles underlying the budget, emphasizing the concept of «pioneering Uttarakhand.»

The latest market upswing, sparked by Nvidia’s (NVDA) strong earnings beat and guidance, has brought S&P 500 valuations to the forefront, making them a primary concern among investors as the index reached new all-time highs.

WPL 2024 RCB vs GG LIVE Score Updates: The women's team of Royal Challengers Bangalore (RCB) is up against the Gujarat Giants' (GG) team in the Women's Premier League (WPL) 2024 match number 5. The WPL 2024 RCB vs GG match starts at 7:30 pm with the toss between the captains of the two teams at M Chinnaswamy Stadium in Bengaluru.

Havells India Limited surged by 4 percent, reaching a 52-week high of ₹1,482. This notable increase came after Goldman Sachs upgraded the rating for the wires and cables manufacturer from "neutral" to "buy." Alongside the rating upgrade, the global brokerage also raised the price target for Havells to ₹1,660 from ₹1,540, indicating an upside potential of 17 percent from the previous session's closing price.

Arbor Financial President Jeffrey Small argues that the ‘Magnificent Seven’ stocks will repeat their 2023 run in 2024 during an appearance on ‘Varney & Co.’

Indian nationals hired by Moscow, with the help of recruiters around the world, for the Russian army in Ukraine. Two years into the war tens of thousands of Russian soldiers have died in Ukraine, and Moscow is on a global quest for more combatants, sometimes with the assistance — complicit or oblivious — of informal intermediaries. An Indian translator working in a military recruitment centre in Moscow told AFP journalists in New Delhi that his facility was one of a network across Russia.

Enforcement Directorate has issued summons to Delhi Chief Minister Arvind Kejriwal for the eighth time for his questioning in an excise policy-linked money laundering case, official sources said on Tuesday. They said Kejriwal, the national convenor of the Aam Aadmi Party, has been asked to depose on March 4 at the agency's headquarters here. On Monday, Kejriwal, 55, skipped the seventh summons issued to him in the case, saying he would appear before the agency if a court ordered him to do so. A city court, approached by the Enforcement Directorate (ED) over Kejriwal skipping its summonses, has directed the chief minister to appear before it on March 16.

Anirudh Kejriwal, a vice president at JPMorgan Chase & Co, took to social media to narrate his experience of buying a flat in a society at Gandhinagar, Gujarat. He alleged caste discrimination, saying that the society is barring his entry due to his caste. He also alleged that he was threatened by a gathering of around 30 people who warned him against buying the flat. In a series of tweets, the JP Morgan executive, who works in GIFT City, said: «Shocked to face blatant caste discrimination in Sant Vihar 1 Society, Gandhinagar, Gujarat. My attempt to buy a flat turned into a nightmare as society's management is barring my entry due to caste. After paying a significant advance, planning was underway to finalize the sale deed. But the seller’s evasion on providing the NOC from the society was the first red flag. Little did I know, the real issue lay deeper.» «My concerns were confirmed when the society’s chairman and management openly stated their refusal to allow people from ‘other’ castes to move in. In the heart of Gujarat, this open discrimination left me in disbelief.»

Mint in an exclusive interview. The company has been conducting trials at select cafes, such as adding new items to the menu, improving food and beverage presentation, and polishing cafe design and infrastructure, Chaayos's finance chief Pranav Dahiya said. It has also begun serving drinks in ceramic cups instead of the usual paper cups at Delhi's Cyber Hub cafe as a part of its premiumisation efforts.

By Arathy Somasekhar and Andrew Hayley

SIDBI ET MSME Conclave held in Rajkot saw a stellar turnout. From conversations around building financially resilient and competitive MSMEs to the challenges that need immediate solutions, the Rajkot edition aimed to understand the role of Gujarat in shaping a viable ecosystem for the MSME sector. Small and medium industries in the city are dominated by foundries, engineering & automobile works, and units that manufacture textiles, gold & silver jewellery, handicrafts, spices, medicines and wall clocks. Gujarat has the fourth-highest number of micro, small and medium enterprises in the country, after Maharashtra, Tamil Nadu and Uttar Pradesh, according to data provided by the Union government in Parliament last year.

Cost of Living LIVE Updates February 27: The cost of living is the amount of money one needs to survive in a given place – and one's most essential needs such as food, water, housing, taxes, cost of commute, healthcare, etc. The high rate of inflation has pushed up the cost of living across the globe, burning a hole in the common man's pocket.

GIFT City and the IFSCA and noted that they were creating new opportunities for the startups and fintechs. The number of startups in India has grown significantly from just over 300 in 2016 to over 1.17 lakh in 2023 as recognised by DPIIT, generating more than 12.4 lakh jobs, and 47% of the startups have at least one Women Director.

tax benefit is spurring US companies including PepsiCo Inc. and International Business Machines Corp. to sell bonds through their Singapore subsidiaries, fueling a record surge of sales from borrowers in the city state. The tactic can allow companies to deduct interest expense from their taxable income in both the US and Singapore. That double deduction means that effective borrowing costs — after taxes — can be materially lower than they would be with a bond issued in the US.

ANI reported. The civic official stated that the incident had impacted the water supply in eastern parts of the eastern suburbs and the water supply from Golanji, Fosbery, Raoli, and Bhandarwada reservoirs in the city.

Suzhou, China, has reported that more than 29.16 million residents now have digital yuan wallets, as the nation’s CBDC project continues to gather pace.

Donald Trump Jr., the eldest son of former President and GOP front-runner Donald Trump. A person familiar with the matter said that results on the substance were inconclusive, but officials do not believe it was deadly. The person spoke on condition of anonymity to confirm details of the letter, which were first reported by The Daily Beast.

By Echha Jain

Horizon Investments chief investment officer Scott Ladner predicts the Fed will cut rates three to five times throughout 2024.