Citi Financial News

Hong Kong court will convene a hearing on Monday on troubled Chinese property developer Evergrande's plans for restructuring its more than USD 300 billion in debts and staving off liquidation. The company, the world's most indebted property developer, ran into trouble when Chinese regulators cracked down on excessive borrowing in the real estate sector. Last month, the company said Chinese police were investigating Evergrande's chairman, Hui Ka Yan, for unspecified suspected crimes in the latest obstacle to the company's efforts to resolve its financial woes.

«I condemn in the strongest possible terms the senseless and most heinous acts perpetrated by foreign terrorists,» said President Ferdinand Marcos Jr. «Extremists who wield violence against the innocent will always be regarded as enemies to our society.» The blast in Marawi, a city besieged by pro-Islamic State militants for five months in 2017, followed the killing of 11 combatants in a military operation on Friday in Maguindanao del Sur some 200 km (125 miles) away. Urging calm, Marcos posted on the social media platform X that he had instructed the national police and armed forces «to ensure the protection and safety of civilians and the security of affected and vulnerable communities». «Rest assured we will bring the perpetrators of this ruthless act to justice.» Army Major General Gabriel Viray III called the attack at the Mindanao State University «a terror act», speaking to reporters as explosive disposal experts were deployed. «Right now we are on heightened alert and our troops remain vigilant as we are determining the motive and identifying the perpetrators to really ascertain who was behind it,» Viray said.

flights and long-distance trains out of Munich, with Christmas markets closed, some ski lifts unable to run and a football match called off as the city battled with the icy conditions. Flights were not scheduled to depart or arrive at Munich airport until at least 6 a.m. (0500 GMT) on Sunday according to a statement on its website.

Cyclone Michaung, brewing over the Bay of Bengal, is expected to skip the city and make landfall between Nellore and Machilipatnam with winds that could pack speeds of upto 100 kmph on Tuesday morning. Speaking to ANI, Sunanda, MD, Visakhapatnam Cyclone Warning Centre, India Meteorological Centre, said, «The deep depression over Southwest Bay of Bengal moved west-northwestwards with a speed of 18 kmph during the past 6 hours and lay centred on December 2, 2023, over the same region near Latitude 10.6°N and Longitude 83.6°E, about 440 km east-southeast of Puducherry, 450 km east-southeast of Chennai, 580 km south-southeast of Nellore, 670 km south-southeast of Bapatla and 670 km south-southeast of Machilipatnam.» «It is likely to move west-northwestward and intensify into a cyclonic storm over the Southwest Bay of Bengal during the next 24 hours. Thereafter, it would move northwestwards and reach the west-central Bay of Bengal off south Andhra Pradesh and adjoining north Tamil Nadu coasts by the December 4 forenoon,» she added. «Thereafter, it would move nearly northwards, almost parallel and close to the south Andhra Pradesh coasts and cross the south Andhra Pradesh coasts between Nellore and Machilipatnam during the forenoon of December 5 as a cyclonic storm with a maximum sustained wind speed of 80-90 kmph, gusting to 100 kmph,» she informed further. Also sharing his bytes on Cyclone 'Michaung', S Balachandran, deputy director general of Meteorology, Chennai, told on Saturday, «There is depression over the South West Bay of Bengal.

In a few seconds, a resident of the flat opens the messaging app Telegram on his phone and types in a command-based text in a group called Channels. Voilà, the door unlocks. This is one of the many features enabled by the internet-of-things (IoT) in the pad.

Manchester City will host Tottenham in Premier League this Sunday as both sides are eager to arrest the current slump in form. Pep Guardiola’s side have drawn their last two PL matches which they played against Chelsea and Liverpool. Ange Postecoglou's Tottemham after impressive start, lost three consecutive games. Manchester City has 29 points off 13 matches, Tottenham has 26 points from 13 matches. Manchester City will be playing Tottenham on Sunday, December 3 in Etihad stadium. The kick off is scheduled at 11:30 am (ET). In the US, one can watch the match on Peacock. Manchester City vs Tottenham soccer game will be entertaining one and Erling Haaland's team is likely to win the match 3-2. Manchester City will be without Kevin De Bruyne and the fitness of Mateo Kovacic and Matheus Nunes are in question. Tottenham will be without James Maddison, Micky van de Ven, Cristian Romero, Rodrigo Bentancur, Ryan Sessegnon, Manor Solomon, Ivan Perisic, and Alfie Whiteman. Doubt is on the fitness of Pape Sarr and Richarlison. Manager Pep Guardiola's Cityzens are guaranteed a place in the Champions League knockout phase and are in a good position to challenge for a record fourth straight league title. And considering all Guardiola has accomplished, his assessment of Postecoglou — who previously managed Celtic in the Scottish Premiership and Yokohama in the J League — carries some weight.

education is sweeping small towns across the country, spurring demand for study loans and underscoring the burgeoning ambitions of young Indians. Guntur, Rangareddy, Krishna, Surat, Prakasam, Warangal, Visakhapatnam, Ludhiana, Nellore, Patiala, Amravati, Bijnor, Medak, Ajmer, Bhilwara, Churu, Darjeeling, Mahbubnagar and Nalanda are among towns that have seen the most applications for education loans in 2023, according to lenders whom ET spoke to. As much as 70-72% of the students funded by Avanse Financial Services in 2023 belonged to tier II-III and beyond, said the education-focused nonbanking financial company’s managing director and chief executive, Amit Gainda.

Cricket World Cup 2023. Four years is a lifetime in the world of technology. In 2019, the World Cup semifinal broke the record for peak concurrency, with 25 million viewers simultaneously streaming the match. Fast forward to 2023, and that number had more than doubled to 59 million for the final between India and Australia. Overall, 295 million-plus live viewers, nearly 11 times Australia’s population tuned in to watch the World Cup. SEISMIC SHIFTS IN VIEWER ENGAGEMENT The dramatic surge in viewership and reach speaks to more than just the popularity of cricket in India. It underscores a seismic shift in how technology has pervaded the daily lives of millions. India’s digital revolution is the backdrop against which this story unfolds. Nearly half of viewers came from tier 2 cities and beyond, dispelling the myth that digital streaming is largely for urban viewers. Remarkably, it wasn’t just GenZ and younger viewers embracing the digital sphere. More than 40% of viewers were 45 years or older, a testament to the willingness of Indians across generations to embrace new technologies.

urban livelihoods mission, which will provide skill development and credit facilities to urban poor, said officials. The revamped Deendayal Antyodaya Yojana-National Urban Livelihoods Mission (DAY-NULM) has already secured the nod of the Expenditure Finance Commission, they said, adding that it will take the learnings of the earlier version forward. «Learnings from the first version have been fed into the successor scheme, especially regarding differences between rural and urban areas,» said one of the officials, who did not wish to be identified. Under the scheme, the revolving fund for self-help groups (SHGs) could be doubled to Rs 20,000 along the lines of revolving community funds that exist for SHGs in rural areas, the official said. The DAY-NULM 1.0, which had an allocation of Rs 6,404.90 crore from 2018-19 to 2023-24, will complete its term in March 2024. Its key focus areas include social mobilisation and institution development, employment through skills training and placement, and self-employment programmes. Under the self-employment component, the scheme offers loans for setting up individual and group micro-enterprises.

Apple Music is set to launch «Taylor Swift's Eras: The Experience,» a two-day interactive event that promises an immersive journey through the celebrated artist's iconic eras. While Taylor Swift herself won't be present, the event is tailored for ardent fans, and registration is now open for those eager to participate.

CBI is conducting searches at six locations in four cities in connection with the alleged graft flagged by former Jammu and Kashmir governor Satya Pal Malik in awarding the contract for the Rs 2,200-crore civil work for the Kiru Hydro Power Project in Kishtwar in 2019, officials said on Saturday. The searches are spread across three locations, including the premises of Kanwaljeet Singh Duggal of Mainstream IT Solutions Private Limited and D P Singh, they said.

climate finance they need, especially in low-income countries, according to a study published on Saturday on the sidelines of the COP28 climate talks. The Cities Climate Finance Leadership Alliance (CCFLA) said cities are on the front line of climate hazards and responsible for three quarters of global emissions, but multilateral development banks (MDB) needed to adopt new strategies to address a gaping financing gap. Cities were receiving only 1% of the climate finance they required, which is estimated to be as high as $5.4 trillion per year up to 2030, according to the study, the first ever review of urban finance from major multilateral development banks. The proportion of MDB financing dedicated to urban-related climate projects stood at $62 billion from 2015 to 2022, or 21% of the total, despite rapid rates of urbanisation across the globe, the study said after analysing data from 815 urban climate-related projects financed by MDBs over the period. Though they are among the most climate-vulnerable, cities in sub-Saharan Africa, the Middle East and North Africa received an especially low share of urban climate finance, with the study citing issues like creditworthiness and restricted access to capital markets. It called on development banks to make more concessional funding available in order to de-risk investments.

Leaning Tower' called Garisenda Tower in Italy's Bologna have been evacuated over possible risks of collapse, reports suggest. The Garisenda tower in the historic city of Bologna, Italy, known for its significant tilt since the 12th century, is facing an alarming risk of collapse.

India’s leading eight residential markets have demonstrated robust growth, with a 22% increase in sales and a 17% rise in new supply during the third quarter of the calendar year (July-September 2023), as per the latest data by PropTiger.com.

Since the advent of COVID-19, the real estate market has been witnessing crests and troughs. The demand for, both rental and owned, underwent a steep downward trend owing to work from home. However, as the sun begins to rise again, the real estate segment is once again witnessing a shift – shift from affordable housing towards luxury housing. With work places opening up, work force is approaching with caution which is getting reflected on home spaces – larger spaces which are conducive for both work and leisure. According to a study by Anarock, 18% of the total units sold in the top seven cities in 2022 fall into the luxury category, compared to just 7% in 2019.

The demand for luxury holiday homes in India is on the rise, thanks to the country’s rapid economic growth and increasing disposable income. It’s not just the high net-worth individuals (HNIs) who are buying luxury villas in tourist destinations for self-use and investment purposes, but also the aspirational class who are keen on investing in properties in holiday destinations. This trend is reflected in the growing market size of holiday homes.

Gurugram-based realtor Ganga Realty has announced the launch of a luxury residential project ‘Nandaka 84’ in Sector 84, Gurugram, and plans to invest more than Rs 1000 crore in this project. The project is located at a 2-minute distance from Dwarka Expressway/Northern Peripheral Road and shares close and seamless connectivity with NH-48, Cloverleaf Flyover, the ambitious mixed-use Global City project, IGI Airport, and Delhi’s premium hotspot Rajiv Chowk.

Thе co-working space in India is in high demand, and is showing no signs of slowing down. In 2024, the industry can еxpеct to sее еvеn morе co-working spacеs popping up, not just in major citiеs likе Dеlhi and Mumbai, but also in smallеr towns and citiеs across thе country.

By Suhaib Salem and Nidal al-Mughrabi

Munich's airport Saturday after a winter storm dumped snow across southern Germany and parts of Austria and Switzerland, affecting travel across the region. After initially announcing a halt in air traffic until noon on Saturday, the airport later announced flights would be cancelled until 6 am Sunday.

The Walking Dead concluded its remarkable 11-season run on November 20, 2022, fans are left pondering whether Season 12 is in the pipeline. The series, known for its gripping portrayal of survivors navigating a zombie apocalypse, initially hinted at a 12-season plan. However, with the expansive world of spin-offs taking center stage, the fate of a potential Season 12 remains uncertain.