Citi Financial News

The son of jailed Hong Kong media mogul and prominent pro-democracy activist Jimmy Lai says he doesn't want to see his father die in detention, as his lawyers raised the prospect that his long-delayed trial may be pushed back indefinitely

By Jonathan Stempel

Derna in northeastern Libya this month has been of biblical proportions. Torrential rains from Storm Daniel burst two dams upstream from Derna, sending a wall of water crashing through the city centre that razed entire neighbourhoods. The death toll from the flooding has touched 11,300, and another 10,100 people are missing.

National Highway Authority of India (NHAI) inaugurated a 244 km stretch of Delhi-Mumbai Expressway between Jhabua of Madhya Pradesh to Modak of Rajashtan, near Jhalawar, on Wednesday i.e September 20, 2023. The new stretch of the expressway is passing through Madhya Pradesh covering several districts in the western region. This new road connectivity for the state passing through Jhabua, Mandsaur and Ratlam districts in Madhya Pradesh, connecting major cities, including Garoth, Jaora, Ratlam, and Thandla will open a direct conduit to New Delhi, the national capital and, Mumbai, the financial capital of the nation, the Times of India reported.

India, the World Bank member IFC and realty developer Sunteck Realty are partnering to create a joint platform to promote the development of 12,000 housing units with a total investment of up to Rs 750 crore. These houses will be developed across four to six green housing projects within the country’s commercial capital Mumbai Metropolitan Region (MMR). Of the total investment into this joint platform, IFC's proposed investment will be up to Rs 330 crore with the remainder to be brought in by Sunteck Realty. «This investment aligns with our strategy to create more inclusive and equitable cities by backing affordable and eco-friendly housing through partnerships with established companies like Sunteck Realty,” said Wendy Werner, IFC Country Head, India. According to him, it also supports the government of India's 'Housing for All' initiative, delivering essential societal benefits including shelter, safety, job opportunities, wealth generation, and enhanced credit access. »We are pleased to collaborate with IFC in our shared goal of addressing the housing shortage in India. Our wide range of offerings provide high quality amenities and enhanced lifestyle for all the segments of the population,” said Kamal Khetan, CMD, Sunteck Realty. According to Khetan, this strategic partnership demonstrates the company's capability to develop high quality large-scale housing projects in the MMR and aligns with its vision of sustainable and green housing solutions. With a population exceeding 2.2 crore, the Mumbai region is India's largest and most active housing market, grappling with a significant housing deficit.

Vaibhav Jewellers IPO: The mainboard initial public offering (IPO) of Andhra Pradesh-based Manoj Vaibhav Gems N Jewellers will be opening for subscription on Friday, September 22. Also known as Vaibhav Jewellers, the firm is a regional jewelry brand in South India.

Hardeep Singh Nijjar, has led India to temporarily suspend issuing visas to Canadian citizens. The ministry of external affairs citied security threat in taking the step. Spokesperson for External Affairs Ministry Arindam Bagchi on Thursday said the decision will include Canadian visa applicants in third countries even as he asserted Canada must act against the pro-Khalistani elements operating from its territory.

Candlelight Concerts to India, kicking off with performances in tribute to Taylor Swift’s greatest hits, Vivaldi’s Four Seasons, British bands Queen and Coldplay, as well as the Japanese composer Joe Hisaishi. The expansion into the region comes on the heels of the experience’s success, having delighted audiences in more than 150 cities worldwide, including New York, London, Madrid, Singapore and Tokyo.Audiences who would like to be the first to know about the local venues and music programs kicking off the series can sign up on each city’s page at feverup.com.

Lucknow district magistrate Surya Pal Gangwar has ordered the authorities to establish a dedicated control room to cater to the complaints about potholes. In a concerted effort to ensure smoother and safer city roads in Lucknow, district magistrate Gangwar and divisional commissioner Roshan Jacob have asked the authorities to eradicate potholes ahead of the Diwali festival. As per a TOI report, Gangwar has ordered the setting up of a control room where residents can file complaints on a toll-free WhatsApp hotline number with the exact GPS location of the area that needs attention. District Magistrate Gangwar has assigned officials the crucial task of conducting spontaneous inspections across the city and submitting comprehensive status reports within the next three days.

Vaibhav Jewellers will open for subscription on September 22. The issue closes on September 26 and the anchor investors allocation will be done later today. Ahead of the issue opening, market analysts say there is no definitive trend of GMP of the company's shares in the unlisted market. Vaibhav Jewellers is one of the earlier entrants in the organised jewellery retail market of Andhra Pradesh and continues to focus on regional expansion into the high-growth untapped regions within the micro-markets of Andhra Pradesh and Telangana. About 77% of its retail showrooms are in tier two and tier three cities and the rest are in Hyderabad and Visakhapatnam catering to urban consumers. The IPO comprises a fresh issue of Rs 210 crore and an offer for sale (OFS) segment of up to 28 lakh equity shares.

Inter Miami won 4-0 even without their talisman leader. Messi was laboring with what appeared to be a leg issue. Inter Miami coach Gerardo «Tata» Martino said after the game that the Argentine star will miss Sunday's game at Orlando. «He had an old injury that had been bothering him,» Martino said, as relayed through a team official who translated his remarks from Spanish to English, as per an AP report. It was the second big injury blow for Inter Miami on Wednesday. Jordi Alba — another celebrated midseason addition — had to leave in the 34th minute, shortly before Messi's night was over. Alba will not play Sunday, either.

Delhi (MCD) is set to take a significant step towards enhancing the upkeep of its major roads. As per a TOI report, this week, the MCD will initiate the process of selecting a project management consultant for a comprehensive plan worth Rs 62 crore aimed at mechanized sweeping and maintenance of over 1,400 km of roads with a width exceeding 60 feet within the city. Presently, the responsibility for maintaining these roads lies with the Public Works Department.

Mayor described the rich history between India and the coastal city as «inspiring», and ongoing collaborations between them as holding a great «future ahead». Addressing a gathering of about two hundred people assembled to show respect to the Indian soldiers, Mayor Dr Einat Kalisch-Rotem said that he sees India as a very important partner in the big plans for the city of Haifa. «The rich history between India and Haifa is inspiring and very significant for both of us. This is one of the strongest links (the story of the liberation of the city) between us, in the past, but also for our future,» Kalisch-Rotem said. «We have a lot to do with the port of Haifa.

Khalistani terrorists in San Francisco Indian Consulate attack case. On the intervening night of 18 and 19 March 2023, Khalistani separatists had attacked the Indian Consulate in San Francisco, United States.

Royal Enfield Rental will be accessible in cities such as Ahmedabad, Mumbai, Gujarat, Maharashtra, Chandigarh, Dharamshala, Leh, Manali, Haridwar, and Rishikesh. Additionally, the manufacturer will extend its motorcycle rental services to Udaipur, Jaipur, Jaisalmer, Goa, Kochi, Bhubaneswar, Thiruvananthapuram, Visakhapatnam, Delhi, Chennai, Bengaluru, Hyderabad, Shimla, Nainital, Bir Billing, Siliguri, and Dehradun. The company says that it intends to include more cities to this roster as part of its expansion plans.

₹509.25 apiece on the BSE Thursday. Since listing in July, Seco Gold shares have rallied more than 18%. Senco Gold shares made a strong debut on the Indian stock market exchanges on July 14 as the stock was listed with more than 35% premium at ₹431 on BSE.

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Narendra Modi is likely to flag off nine Vande Bharat express train on Sunday i.e. on 24 September, ministry officials told News18. Among these nine trains, the Indian Railways is set to launch two trains for West Bengal’s Howrah and Tamil Nadu’s Chennai while one each for Kerala, Odisha, Telangana, Gujarat and poll-bound Rajasthan.

Madhya Pradesh CM Shivraj Singh Chauhan, on Thursday, inaugurated the grand statue of Adi Shankaracharya in Omkareshwar. During the inauguration ceremony, CM Shivraj Chauhan offered prayers at the site on the occasion of the inauguration of the grand statue in Omkareshwar. Located on the Mandhata mountain in Omkareshwar, the statue stands tall on the pictursque banks of river Narmada.

Motilal Oswal Financial Services, quickly skimmed the annual reports of Gujarat Gas Ltd, Mahanagar Gas Ltd, and Indraprastha Gas Ltd, the three City Gas Distribution (CGD)s.Gujarat Gas continues to be Motilal Oswal's top choice among the three CGDS, said the brokerage in its latest report on Oil & Gas sector. According to the brokerage, Indraprastha Gas and Mahanagar Gas are both CNG-focused operators in the CGD industry, while Gujarat Gas is primarily focused on the Industrial segment.

Australia’s largest fruit and vegetable processor is set to bid farewell to public life.