Citi Financial News

Women are losing out to men in India’s jobless growth While 82% of working professionals expressed concerns over potential job redundancy due to emerging technologies, upskilling played a positive role for several employees. As per the report, 78% of working professionals have recognised 'upskilling' as a proactive strategy to navigate the rapidly changing working landscape in the country.

Sumitomo Mitsui Banking Corporation (SMBC), Japan's second largest bank by assets, has closed a $120 million aircraft financing loan to Air India to help it purchase of an A350-900 aircraft delivered by Airbus. SMBC was the sole bank in the transaction and the transaction was orchestrated with the assistance of Air India’s wholly owned subsidiary in Gujarat International Finance Tec-City (GIFT City), AI Fleet Services Ltd, the bank said. SMBC Singapore branch was involved in the transaction. The aircraft purchase was part of Air India’s order of 470 aircrafts placed earlier this year. «Through an innovative GIFT City structure, we have successfully completed this aircraft secured debt facility amid a fast-growing Indian market, marking the bank’s first aircraft finance lease transaction of its kind,» said Hiroyuki Mesaki, country head, SMBC India. Nipun Aggarwal, chief commercial officer at Air India said the A350-900 aircraft is among the first deliveries of the Tata Group's large aircraft order.

Welspun One, an integrated fund and development management platform, will be investing over Rs 700 crore to develop an industrial and logistics hub spread across 55 acres within the Jawaharlal Nehru Port Authority (JNPA) Special Economic Zone (SEZ) in Navi Mumbai. For this, Welspun One has entered into a strategic collaboration with JNPA to jointly develop this project. The investment includes both land as well as construction cost. This marks the second deployment from Welspun Ones’ latest alternative investment fund that has a total corpus of Rs 2,000 crore.

₹620 apiece on NSE, a premium of 25.76% to the issue price of ₹493 per share. However, soon after the listing, India Shelter share price declined more than 8% as investors took some profit off the table. Analysts believe investors of India Shelter Finance IPO should book part profit after share listing and can keep the rest of the shares for the long term.

SMBC on Wednesday said the Tata Group-owned Air India has borrowed USD 120 million from it for purchasing a wide-body aircraft from Airbus. The transaction has partly financed Air India's purchase of an A350-900 aircraft from Airbus, which was delivered in October 2023, according to an official statement.

Nippon Life India Asset Management Ltd share price gained up to 8.9% in morning trades on the NSE on Wednesday. A large trade deal news triggered these gains. The share price also scaled 52 week highs of ₹489 on Wednesday CNBC TV-18 quoting sources has reported that Private sector lender IndusInd Bank is likely to divest a 2.86% equity stake in Nippon Life India Asset Management Ltd (Nippon AMC) through block deals.

Alec Baldwin was captured on video at a pro-Palestinian rally in New York City on Monday during a heated argument with a protester.

energy transition over the next decade isn’t technology or politics. It’s money. Reconfiguring the world’s power systems to eliminate carbon emissions is going to be a multi-trillion dollar investment project.

doubled down on anti-immigrant “blood" purity remarks in front of several thousand supporters in New Hampshire. “They’re poisoning the blood of our country," Trump said in New Hampshire about the record numbers of immigrants coming to the U.S.

Rohit Kapoor, CEO, Food Marketplace, Swiggy, says” India is not one and there are consumers who look for different features, different benefits. The pocket hero for the value conscious consumer was launched in Gurgaon, but now it has been scaled up to other cities as well. There are multiple initiatives. We keep listening to consumers, trying to figure out what they are looking for and also sometimes inserting things which they may not be looking forward to but we are excited about and which we believe will be big in the future.” My eyes almost popped out at some of the interesting findings that you guys had for the year gone by, 207 pizzas in a single day in Jhansi and I am sure the trends have been pretty marvellous! Anything that has really caught your eye? Anything that will continue into 2024? Being a Calcutta boy what caught my eye was that in Durga Puja Gulab Jamuns trumped Rasgulla, that was a little surprising coming from Calcutta and growing up there. I think two-three things are becoming very strong. One is there is a clear fusion of the modern and the traditional. So, in small towns we see hot dogs selling for example whereas samosas are right up there next to each other and so many such examples. So, India is traditional in food. There is a lot of joy in discovering what we have and also experimenting around the edges quite a bit.

After-Hours Stock Movers:

FIFA Club World Cup 2023 final in Saudi Arabia after defeating Japanese club Urawa Red Diamonds. The reigning Premier League and UEFA Champions League champion will face Brazilian club Fluminese in the summit clash. Ahead of the FIFA Club World Cup 2023 final, there will be a third-place match between Al Ahly and Urawa Red Diamonds. That match will take place on Friday, December 22 at 9.30 am (ET).

In Chicago, the holiday season will be marked by wet conditions rather than a white landscape, as temperatures in the city are expected to reach the 50s, accompanied by possible showers. Meanwhile, New York City anticipates dry weather on Christmas Day, with temperatures in the low 50s.

In the fast-growing housing market of India, where affordable residences for the economically underprivileged and opulent homes for the affluent take centre stage, attention is increasingly drawn to a crucial yet sometimes overlooked segment—the mid-segment homes.

India’s second & holiday homes, once believed to be trophy assets for the selected few, are now increasingly becoming mainstream. The market is presently sized north of USD 2.1 billion and is growing at a commendable rate of 23.6%, as per the research by Axon Developers.

NEW DELHI : Jubilant FoodWorks Ltd, which operates master franchise rights from Domino’s Pizza in India, has announced a brand refresh for its flagship pizza brand that involves upgrading hundreds of pizza stores, apart from new packaging and a marketing campaign as the company hopes to get more consumers to choose pizza over local food. “India is a $50-billion food services market; pizza is only a $1-billion market. Our job is to gain share from dosa-sambar, vada pav, samosa, etc.

Lizzo's legal team has filed a motion to dismiss the harassment and discrimination lawsuit brought by a former employee, Asha Daniels, who worked as a clothing designer for the singer's tour. The attorneys argue that the lawsuit, filed in a Los Angeles court in September, is «meritless and salacious,» asserting that Daniels failed to fulfill her assigned duties and eventually neglected her work. Lizzo's legal representatives claim that Daniels was terminated for «abandoning her post» on the day of a concert in Paris, France.

Arunachal Pradesh Chief Minister Pema Khandu dedicated to the people one Arunachal State Guest House at the holy city of Gaya in Bihar. The guest house besides offering accommodation to Buddhist pilgrims from Arunachal Pradesh, will also double up as a convention and cultural center. Under the administration of state Department of Karmik and Adhyatmik Affairs (DoKAA), the project was executed by the state Water Resources Department (WRD). Speaking on the occasion, Khandu profusely expressed gratitude to Bihar Chief Minister Nitish Kumar for allotting the land to the state government for construction of the guest house. He informed that it was a dream project of his late father and former Chief Minister Dorjee Khandu to have a facility for Buddhist followers of the state who throng Gaya at least once a year. Bodh Gaya is one of the most religiously important places in India. Gaya, as a pilgrimage site, is revered by both Buddhists and Hindus.

Citi Research reiterated a Buy rating on Ford Motors (NYSE:F) and cut their 12-month price target on the stock to $15.00 (From $17.00) after the Detroit automaker updated guidance to reflect recent concessions made to workers following a UAW strike.

On Tuesday, it was announced that Deutsche Lufthansa (DLAKY) will buy up to 100 737 MAX jets, representing its first Boeing (NYSE:BA) single-aisle order in nearly 30 years.

Futures positioning is currently extended and one-sided after a massive rally in stocks since late October. With profit levels accumulating, there is a potential for short-term profit-taking and headwinds, Citi strategists write.