Citi Financial News

Top developers are entering new markets for residential projects, as rising urbanization and an expanding middle class fuel a housing boom. Developers are exploring opportunities particularly in cities such as Hyderabad, Pune, Bengaluru and Gurugram that have seen high sales. Mumbai-based Godrej Properties Ltd this week acquired 12.5 acres in Hyderabad’s Rajendra Nagar locality to develop a premium residential project, marking its entry into the city.

By Daina Beth Solomon and Divya Rajagopal

iron pipe dislocated from the Subhash Nagar Metro Station and fell onto a car and a scooter on February 15, adding to the concerns over the safety and infrastructure integrity of Delhi Metro stations. The incident at Subhash Nagar Metro Station, located in west Delhi, resulted in one person reported injured, although further details are currently awaited. Eyewitnesses at the scene described the chaos and panic that ensued as the iron pipe came loose, striking vehicles passing beneath the station. The incident occurred amidst heightened scrutiny of the city's metro system following the recent collapse at Gokulpuri Metro Station on the Pink Line, which claimed the life of a 53-year-old man and left several others injured.

Big four American banking giant Citi has just completed a proof-of-concept (PoC) to tokenize traditional finance (TradFi) assets and distribute them on blockchain.

₹25,000 crore semiconductor packaging plant which will be established in partnership with the Assam government and Tata Group, minister of state for electronics and IT Rajeev Chandrasekhar said at the Future Skills Summit in Guwahati, on Thursday. “A semiconductor packaging plant will be established in partnership with the Assam government and Tata Group. We will soon obtain all approvals and submit it to the cabinet for final approval.

Nitin Gadkari inaugurated and laid the foundation stones for 28 national highway (NH) projects worth Rs 6,600 crore in Odisha. Though his visit to Odisha was cancelled at the last minute, Gadkari launched these projects virtually. Among the inaugurated projects were a 79km four-lane road between Baharagora and Singhara on NH-49, valued at Rs 1,203 crore, and a 78km six-lane road from Chandikhol to Bhadrak on NH-16, costing Rs 2,035 crore. Additionally, the minister laid the foundation stones for 26 other road infrastructure projects in the state. During the event, Gadkari highlighted the significant progress in national highway development in Odisha since 2014.

Indian Express, Gopakumar said, "A day after we were awarded the capital punishment, Union Minister S Jaishankar called our wives to Delhi. He assured them we would be brought back home." Gopakumar even shared the details of the conversation between the wives of former Indian Navy men and the Union minister. He told the media house that told their wives that he was ready to plead for the release of the eight navy men.

Reality Metaverse recently released a collection of 2000 NFTs linked to properties and buildings in Landlord Go: Trade Real Estate, enabling holders to receive 30% of revenue from the game.

THE FANTASY VERSION of the Amazon that often seduces travelers—of a pristine, impenetrably vast jungle populated by jaguars, sloths and isolated pockets of indigenous tribes—does not prepare one for Manaus. A sprawling metropolis of more than two million people in the middle of the rainforest, the city is Brazil’s pre-eminent free-trade zone and home to multinational corporations like Foxconn and Samsung. A superb vantage point for people watching is a window seat at Caxiri, a restaurant overlooking Teatro Amazonas, a Belle Epoque opera house that opened in 1896.

Need a loan for a medical emergency or to enjoy a vacation? Whatever your purpose, a personal loan can fulfil your needs. However, a personal loan is an unsecured loan; hence, you need to meet the eligibility criteria before getting it. Among other things, your credit score matters a lot for personal loans. Your credit score can determine your personal loan eligibility and the interest rate you will pay on it. So, let us understand what a credit score is, how it matters for personal loans, and how to improve it.

Albert Einstein directly involved in making a nuclear bomb, that brought devastating catastrophe to the Japanese cities of Nagasaki and Hiroshima in World War II? The theoretical physicist, best known for his Theory of Relativity, was a pacifist from the beginning of his life. After Christopher Nolan's 'Oppenheimer', director Anthony Philipson has tried to find the answer to this question in his upcoming docudrama, 'Einstein and the Bomb'.

Manchester United's squad for the 2022-23 season stood out as the most financially robust in the history of European football, according to a report published by UEFA, the governing body of European football. The "European Club Finance and Investment Landscape" report revealed that United invested just over 1.42 billion euros ($1.52 billion) in their squad for that season, surpassing the previous record held by Real Madrid, who had spent 1.33 billion euros in 2020.

Table Space Technologies has leased over one lakh square feet in the Cafe Coffee Day Square Property in Bengaluru, which had served as the erstwhile corporate headquarter of the company and its flagship store. The lease term is 60 months with a lock-in period and commands a rental of Rs 175 per square foot with a 10% escalation every two years, as per the lease registry document shared by Propstack, a data analytics firm. The Cafe Coffee Day Square at Bengaluru’s premium Vittal Mallya Road has a total built-up area of over 100,000 sq ft, and each floor measures approximately 9,000 sq. ft, said the document.

Young women in India’s small towns and hinterlands are increasingly aspiring for a foreign degree. This is evident in the surging demand for educational loans as well as applications to international universities. As of December-end, women comprised nearly 45% of the students who availed educational loans from non-metro cities by education loan provider Avanse Financial Services. “We have observed a consistent growth in the number of female students applying for education financing to study abroad from tier II, III and beyond cities,” said Amit Gainda, managing director and CEO at Avanse Financial Services. The number has been rising post-pandemic from 34% in FY21 to 38-40% in FY22 and FY23.

Citigroup Inc. has carried out a simulation which shows how a private equity fund can be tokenized on a blockchain network, potentially paving the way for greater adoption of distributed ledger technology on Wall Street.

Department of Telecommunications (DoT) has launched the 'Sangam: Digital Twin' initiative, which will help in infrastructure planning by utilising artificial intelligence (AI), machine learning (ML) and internet of things (IoT). The digital twin technology offers a solution by creating virtual replicas of physical assets, allowing for real-time monitoring, simulation and analysis for experimental iterations. It aims to demonstrate practical implementation of innovative infrastructure planning solutions. The DoT has invited industry pioneers, startups, MSMEs, academia, innovators and forward-thinkers to participate in Sangam's outreach programmes. Interested stakeholders can apply till March 15.

Udemy (UDMY) saw its shares tumble more than 10% in premarket trading Thursday after the company issued disappointing revenue guidance for FQ1 and the full fiscal 2024.

Mayank Shah, VP, Parle Products, says “we have changed along with the city, hand in hand. Bombay has evolved into a mega metro today from what it used to be. Of course, it used to be an important city earlier as well but the way it has grown today is the same way even the company has grown. So, probably 20 years back, we had very limited products, very limited options. We are available in limited categories. Today, we have more than 50 brands and more than 350 SKUs straddling across multiple categories.” On premiumisation of products Mayank Shah: We have an entire range of premium products called Platina, where we have Milano, Hide & Seek, Nutricrunch, and all of them and they are doing very well. So, as India is growing, as our economy is developing and growing, I think Indians have started accepting premium products or rather have started spending on premium products and the Platina range is doing very well.

Super Bowl victory rally on Wednesday. Football fans dressed in red jerseys ran in complete chaos and took shelter wherever they could. Players of the Kansas City Chiefs were on the stage and about one million football fans had gathered in downtown Kansas City, Missouri, to attend the parade and rally to mark the Chiefs’ repeat championship win.

Kerala-based startups witness 40% surge in seed-stage funding in 2023: Report Tamil Nadu startups also saw a crunch in funding, with an 85% plunge last year. Tamil Nadu-based tech startups secured a total funding of $255 million in 2023 as against $1.7 billion raised in 2022. Karnataka's tech startups attracted late-stage investments worth $2.3 billion in 2023, a 74% decline compared with $8.9 billion in 2022.

Cash-strapped Dunzo promises to pay former staff by March-end Overall, the Kerala-based startups raised $33.2 million in 2023, an uptick of 15% increase from $28.9 million raised in 2022. However, the early-stage funding dropped 32% to $7 million in 2023 from $10.3 million in 2022. The Kerala startup ecosystem has not recorded any late-stage funding in the last five years.