Citi Financial News

Municipal Corporation here on Monday issued a recovery notice of Rs 2.44 crore against Abdul Malik, a key accused in the violence at Haldwani, asking him to deposit the money to cover damage caused to government property during the clash. The initial assessment of the loss allegedly caused by Malik was pegged at Rs 2.44 crore, the civic body said, asking him to deposit this amount in the Municipal Corporation, Haldwby February 15. In the notice, the officials claimed that Malik's supporters attacked the team that had gone to carry out the demolition drive in 'Malik Ka Bagicha' and damaged the properties of the municipal corporation.

shooting incident at a subway station in the Bronx country in New York on Monday evening, ABC News reported quoting police. According to the report, around 4:30 p.m. ET, officers responded to 911 calls of a shooting at the Mount Eden Avenue station and found six people shot, New York city Police Department (NYPD) Chief of Transit Michael M. Kemper told reporters at a media briefing Monday night.

New York City subway station on Monday afternoon just ahead of the busy rush hour, official confirmed on Tuesday. No motive was given for the shooting. The officials said the shooting started at around 4.30 pm when stations throughout the city are usually filled with kids coming home from school and many workers are beginning their evening commute.

By Stephanie Kelly

By Valentine Hilaire

Israeli Minister of Transport and Road Safety, Miri Regev, paid tribute to the victims of the 26/11 terror attacks at Mumbai's Nariman House on Monday. After laying flowers at a column raised in memory of the 26/11 victims, the minister also interacted with members of the Indian Jewish community at the Keneseth Eliyahoo Synagogue. In one of the deadliest terror attacks to have been perpetrated on Indian soil, 10 members of Pakistan-based Lashkar-e-Taiba infiltrated India's commercial capital by the sea on the night of November 26, 2008, opening fire on unarmed civilians at some prominent public spaces across Mumbai.

Supertails, which focuses on petcare products and services, has raised $15 million (around Rs 125 crore) in equity funding led by RPSG Capital Ventures. The firm’s existing investors such as Fireside Ventures, Saama Capital, DSG, and Sauce VC also participated. The funds will be used for offline expansion, scaling up products, acquiring new customers and expand its healthcare service, Supertails Pharmacy. The company plans to launch trial stores in a mix of metropolitan and tier-I cities like Bengaluru, Mysore or Ahmedabad. Currently, the company does not have physical retail stores.

British American Tobacco (BAT), the largest shareholder in India's ITC, is working with Wall Street banks Citi and Bank of America to help pare some of that stake and raise up to Rs 21,000 crore ($2.5 billion), according to people with knowledge of the matter. This would translate to monetising 3.5-4% in ITC. However, no transaction will happen until the Reserve Bank of India (RBI) approves the move. BAT has 29.03% holding in the cigarette-to-chips conglomerate, as per December 2023 disclosures. Based on Monday’s closing price, BAT’s shareholding is valued at Rs 1.47 lakh crore ($17.75 billion). ITC’s total market capitalisation amounted to Rs 5.07 lakh crore ($61.17 billion).

Kochi, Japan, will move into the metaverse space, with city officials sealing a web3 deal with the Philippines-based Start Lands.

Torrevieja, a coastal city in southeastern Spain, has launched an ambitious initiative to become Europe’s first “crypto-friendly” city, according to a February 6 statement.

Drivers’ group announced that on Valentine's Day, numerous drivers from Uber (NYSE:UBER), Lyft (NASDAQ:LYFT), and the food delivery service DoorDash (NASDAQ:DASH) will participate in a nationwide strike to demand fair pay.

Uber, Lyft and food delivery app DoorDash will strike across the United States on Valentine's Day seeking fair pay, drivers' groups said on Monday. The strike call is the first since Uber and Lyft went public in 2019. Drivers will picket outside airports and Uber offices, two of the groups said.

Reuters on Monday. The drivers, considered independent contractors, have accused the platforms of taking disproportionately high amounts as commissions. The Justice For App Workers coalition, representing about 130,000 drivers and delivery workers, said its drivers would not provide rides to and from airports between 11 am and 1 pm in 10 U.S.

Pakistan's imprisoned former Prime Minister Imran Khan and members of other political parties blocked key highways and started a daylong strike in the volatile southwest Monday to protest alleged rigging of last week's elections. Candidates backed by Khan won more seats than the political parties who ousted him from power nearly two years ago, according to the final tally published Sunday. However, no party won a majority, so the parties will have to hold talks on forming a coalition government. While election winners were celebrating victory, PTI and other parties refused to accept their defeat in dozens of constituencies. Dozens of Khan's supporters were briefly detained in the eastern city of Lahore over the weekend while protesting alleged vote-rigging.

New York City to Providence in Rhode Island, and onwards to Boston, as per a Fox report. The fast-moving winter storm was expected to hit the US Northeast early on Tuesday, dumping as much as 6 inches (15.24 centimeters) of snow on New York City before moving north later in the day and walloping Boston with more than a foot, forecasters said.

Gaza Strip deeper into trouble, the Israel Defence Force has captured 20 Hamas terrorists from a hospital in the Gaza Strip city of Khan Younis. With these arrests, Tel Aviv may further emphasize that Hamas has used hospitals for terror attacks. The Hamas fighters were hiding inside a Khan Younis hospital in Gaza. They were arrested by the Jewish troops aided by medical staff waiting on a delivery of oxygen tanks.

Mint explains: Beginning January, farmers from several member-nations of the European Union (EU)—Belgium, Bulgaria, France, Germany, Hungary, Italy, Poland and Spain—invaded cities with their tractors, burning tyres, dumping manure, raiding supermarkets, blocking access to ports and highways and choking city centres. They are protesting subsidy cuts, high energy prices, cheap grain imports from Ukraine, beef imports from Latin America, growing clout of big agribusiness and climate policies limiting the use of chemical inputs. It is a profitability crisis—due to higher farming costs and low produce prices.

PM Modi will inaugurate the first Hindu temple in Abu Dhabi on February 14. "The inauguration programme of BAPS temple is one of the key parts of PM Modi's UAE visit...," Foreign Secretary Vinay Mohan Kwatra said on Monday. Besides this, the Prime Minister will also address the Indian community in the UAE at an event in Zayed Sports city in Abu Dhabi.

Properties such as The Oberoi Udaivilas and Fairmont Jaipur have no rooms available for February 14, as per Booking.com. Rajesh Namby, general manager of Raffles Udaipur, said the hotel has seen a “remarkable” surge in bookings and expects a 22-27% revenue growth with an increase in average daily rates around Valentine’s Day.

Tata Motors and MG Motor India that are reporting high demand for electric cars from this tiny southern state that accounts for only about 4% of all passenger vehicles sold in India. Kerala has emerged a frontrunner in adoption of the technology, trailing only Maharashtra in lapping up electric cars like Tata Tiago EV to MG Comet, launched at affordable price points in the mass market in the past 12-18 months. It is followed by Karnataka and Gujarat. Together, the three states accounted for about 35% of the 82,000-odd electric cars sold in the country in CY2023. Greater consumer awareness, lower cost of operations and wider spread of charging infrastructure have been driving up sales in these states, senior industry executives told ET.

Intellectual Conclave titled “North East India, Bangladesh and the Bay of Bengal region in the Indo-Pacific: The Way Forward,” was organized by think tank Asian Confluence in collaboration with the Minister of External Affairs, India (MEA), Embassy of Japan in India, and North Eastern Council in the picturesque city of Shillong on Monday. Ambassador of Japan to India, Hiroshi Suzuki highlighted the necessity to identify the actionable projects for new investments in the region. Focusing on connectivity between India and Bangladesh, High commissioner of Bangladesh to India, Mustafizur Rehman said that connectivity projects must be mutually beneficial. P Kumaran, Special Secretary, Economic Relations & Development Partnership Administration, MEA, emphasized on the projects that are taken up in the Northeast India and explained how robust connectivity between India and Bangladesh could become a game changer for the Bay of Bengal region.