Citi Financial News

South Korean police have shut down a firm at the center of a suspected crypto scam that allegedly duped 4,000 people out of their funds, arresting 25 people.

LEAP AHEAD initiative — a joint collaboration of Software Technology Parks of India (STPI) and The Indus Entrepreneurs (TiE) Delhi-NCR — to boost startups across the country. Arvind Kumar, Director General, STPI; Shri Sushil Pal, Joint Secretary, MeitY; Dr Saurabh Shrivastava, Chairman Emeritus, TiE Delhi-NCR & Co Founder, Indian Angel Network; Shri Alok Mittal, Co-founder, Indifi Technologies & President, TiE Delhi-NCR; Shri Ashok Singh, Executive Vice President, Investor Relations, Mumbai Angels; Shri Prem Bharthasarathy, Managing Partner, Pontaq Ventures India LLP, Shri Devesh Tyagi, Senior Director, STPI; Shri Subodh Sachan, Director, Innovation and Startups, STPI and Ms. Manjusha Chourasia, Scientist ‘E’, MeitY. This initiative is aimed to helping startups looking at scaling stage, growth stage, product diversification or planning expansion into new geographical locations.

Brookfield India Real Estate Trust has leased over 5.21 lakh sq ft office space including 4.63 lakh sq ft of new leasing during the quarter ended September. Of this, the listed Real Estate Investment Trust (REIT) has leased over 3.18 lakh sq ft in its Special Economic Zone (SEZ) assets with 2.20 lakh sq ft of expansion demand from existing occupiers. Around 37% of the office space was leased to Global Capability Centers (GCCs).

On the BSE, SDC Techmedia(down 19.95 per cent), Tricom Fruit(down 19.66 per cent), Evoq Remedies(down 15.85 per cent), City Crops Agro(down 11.37 per cent) and Decorous Investme(down 10.00 per cent) were among the stocks that plunged over 5 per cent during the session. In the Nifty pack, 27 stocks traded in the green, while 22 stocks traded in the red.

Sanjiv Bhasin, Director, IIFL Securities, says “Lupin is my dark horse play. The stock has given a smart run up, but I still think Lupin is headed higher. You can add a basket of maybe Cipla and given that it is a takeover target, given a Cipla, Dr Reddy and Sun Pharma. Divi’s yes, on decline would be a buy because in contract farming in the API distribution, they are one of the largest players.” Let us begin by discussing the pharma sector. The earnings this time have managed to show an improvement with the exception of Divi’s which of course was a big miss on the margin front. The commentary is something that the Street likes. Even Gland after many quarters has managed to deliver an okay set. Which are the stocks that you like? You are right, Divi’s did disappoint but the management sounded very confident on the second half and that is the commentary from a lot of players on the second half of the calendar year and that I think is going to be instrumental. In pharma, we have seen blockbuster numbers from Cipla, Sun Pharma and Dr Reddy. The dark horse play which will come out with superb numbers is Lupin.

Binny Bansal is launching an AI-as-a-service startup that will target global customers, expanding to the fast-growing segment after making a fortune in Indian e-commerce. Bansal, who co-founded online retailer Flipkart and sold it to Walmart Inc., has hired 15 experts for the venture — mostly artificial intelligence scientists — and plans to quickly add more, according to people familiar with the matter. He wants to offer AI talent, products and services to corporate customers, emulating the business model of outsourcing providers like Tata Consultancy Services Ltd. and Infosys Ltd., the people said, asking to not be named as the effort isn’t yet public.

French infrastructure giant Vinci Group has boomeranged back to its former Aussie advisers for a run at Melbourne’s EastLink toll road, as the auction heats up before first-round bids.

Walmart Pays $3.5 Billion to Hike Stake in Flipkart The 40-year-old billionaire, who co-founded e-commerce major Flipkart and made a profit selling his stake to Walmart Inc., is looking to tap the country's large English-speaking young population to train more experts for new AI services. The focus will be on “training talent and offering services" from smaller cities in India, the report said. Bansal did not respond to queries, the report added.

Credit Suisse began compiling estimates of wealth inequality across the globe after the 2008 global financial crash. Its 2023 report combines data from surveys, financial accounts, regulatory information and rich lists to rank countries based on wealth inequality. As in other years, India stands out as a country with an exceptionally high concentration of wealth.

Gaza Strip for an indefinite period after its war with Hamas, AFP reported. Here are the top ten updates about the situation. 1.

Delhi, NCR Air Pollution LIVE News Updates: Delhi's air quality continues to remain ‘severe’ prompting the government to re-introduce the flagship odd-even scheme after Diwali from November 13 to 20 due to expectations of further deterioration in air quality. On Monday, November 6, air pollution levels were seven to eight times above the safe standards which is likely to deteriorate further post-Diwali.

By Valerie Volcovici

World Cup 2023 match at Wankhede Stadium, Mumbai. The Australia vs Afghanistan Mumbai ODI is a day-night match and will start at 2 p.m. It would be the 8th match of both teams in the ICC ODI World Cup 2023.

Cushman & Wakefield Chairman of Global Brokerage Bruce Mosler provides his real estate outlook and addresses New York Citys office vacancy problem on The Claman Countdown.

Suella Braverman sparked a row, as she described living on the streets as a “lifestyle choice" adopted by some residents in Britain, particularly those coming from abroad. “The British people are compassionate. We will always support those who are genuinely homeless.

Offshore wind power company Orsted is trying to get out of a $300 million guarantee it agreed to pay New Jersey in the event it failed to build its first wind farm off the state’s coast

The Kansas City Chiefs say Sunday's game in Frankfurt against the Miami Dolphins is a big step in the organization's plan to become the “world’s team.”

Stellantis plans to build a new midsize pickup truck, along with battery-run versions of six Jeep, Ram and Dodge vehicles

Australian Prime Minister Anthony Albanese says he will protest a lack of transparency in China’s treatment of a detained Australian democracy blogger when meeting with President Xi Jinping in Beijing during a trade-focused state visit

Russian attacks in Ukraine have wounded at least 14 civilians as the president of the European Union's executive returned to the Ukrainian capital to meet with President Volodymyr Zelenskyy

A Los Angeles gallery installation offers a unique art-meets-data look at the eviction crisis in the Venice Beach neighborhood