Citi Financial News

Gujarat High Court on Monday said it was worried about a situation wherein protectors become perpetrators. The HC was hearing a suo motu PIL on two traffic police constables and a traffic brigade jawan allegedly extorting money from a couple travelling in a cab at night in Ahmedabad city. The division bench of Chief Justice Sunita Agarwal and Justice Aniruddha P Mayee sought a report on whether such incidents have occurred in other cities of Gujarat as well and directed authorities to ensure that helpline numbers are displayed in taxis in such a manner that persons in crisis can reach them easily. «People are safe, no doubt.

Arvind Kejriwal-led government have stressed the need to ‘look after the environment’ and reduce pollution levels in winter. Under the new rules, the manufacturing, storage, sale, online delivery and bursting of any type of firecrackers would be wholly prohibited in the national capital. “Chief Minister Kejriwal has decided that firecrackers should be banned on the occasion of Diwali to control pollution.

Faridabad, Delhi’s oldest and one of major satellite towns, is poised for a 360-degree makeover, which will boost the real estate sector’s prospects in the region in a big way.

Despite rising property prices and interest rate hikes in the last one year and more, demand for mid-range and premium homes remains high. The ANAROCK Consumer Sentiment Survey (H1 2023) indicates that at least 59% of the 5218 survey participants will buy mid-range and premium homes (priced from Rs 45 lakh to Rs 1.5 crore). This is a 10% sentiment increase for homes in this budget category over the survey’s H1 2020 edition.

While the domestic price of 24 carat Gold across cities today is around Rs 6000, those interested in investing in gold in the current festival season have an opportunity to do that at a discount from today through Sovereign Gold Bonds (SGBs).

JLL India. Real estate consultant JLL India on Monday released its report 'India Retail: Evolving to a new dawn' that highlighted the operational retail real estate space in shopping malls stood at 89 million square feet. The operational retail stock as of H1 2023 in the top seven cities (Delhi-NCR, Mumbai, Pune, Bengaluru, Kolkata, Chennai, and Hyderabad) stands at 89 million square feet as of June-end this year. Out of the total retail stocks in malls, Delhi NCR has the maximum 28 million square feet, followed by Mumbai with 17 million square feet and Bengaluru 14 million square feet. «The physical retail space segment has an expected supply pipeline of over 38 million sq ft of retail developments between H2 2023 and 2027, across the top seven cities,» JLL said.

Zhang quit just two months after concentrating his focus on cloud computing, raising concern over the unit's spin-off plan and possibility of discord at the top. New group CEO Eddie Wu will concurrently become acting CEO and chairman of a unit grappling with weak sales growth ahead of an initial public offering (IPO) penned for next year. «We have mixed thoughts on this news,» said Morningstar analyst Chelsey Tam in a client note. «We think this latest change was not planned back in June and there are concerns of disagreements among Alibaba's partners.» In June, Alibaba said Zhang would relinquish his group CEO role to focus on the cloud unit, the firm's number two money spinner. The Cloud Intelligence Group, valued at $41 billion to $60 billion earlier this year, is among five units Alibaba is spinning off as part of the biggest restructuring of its 24-year history. Alibaba said it will continue with its plan to spin off the cloud unit under a yet-to-be-appointed management team.

San Francisco (SFO)-bound Air India flight from Bengaluru, with more than 280 people onboard, was diverted to a city in Alaska due to a technical issue, according to an airline official. After fixing the issue, flight AI 175 took off and landed at San Francisco at around 1000 hours India time on Monday, the official said. The flight, operated by a B777 aircraft, faced a technical issue enroute to San Francisco.

Oil and gas heavyweight Santos is in the market with a 10-year US dollar bond to fund future capital expenditure directed to growth projects, Street Talk understands.

Shaw and Partners has added a Macquarie adviser to its ranks as part of a push into the private wealth market.

Indian Foreign Service officers played pivotal roles in India's successful bid to secure a consensus at the recent G20 Leaders Summit. As per a TOI report, these officers, working closely with India's G20 sherpa Amitabh Kant, were instrumental in navigating the challenging negotiations that spanned over 200 hours, involving 300 bilateral meetings and 15 draft revisions. Announcing the achievement on the microblogging site X, Amitabh Kant shared his appreciation for the tireless efforts of these diplomats.

real estate assets through the Real Estate Investment Trusts (REITs) has infused higher transparency in transaction and management structures of these assets and realtors are now aiming to develop investment grade assets with single ownership structure. The developers have started appreciating that retail is a specialized asset class that constantly requires upgradation of tenant mix and the property with focus on parameters such as zoning and mall management to ensure monetization of the asset. Indian retail-led real estate is expected to witness a supply of over 38 million sq ft between the second half of 2023 and 2027. Of the existing retail real estate stock across the top seven cities of India, around 44 million sq ft of retail assets offer a potential to be listed as a REIT and of these, more than half are in Mumbai and NCR-Delhi region, showed data from JLL India. “India’s retail sector is on an elevated growth curve where the focus is on creating an innovative built environment, greater connections with the consumers, and curating physical storefronts in untapped regions of the country including tier II and III cities,” said Rahul Arora, Head of Office Leasing Advisory and Retail Services, India, JLL. Following the success of three office properties-led REITs, India’s public markets saw the launch of the first retail assets-led REIT, Nexus Select Trust, earlier this year.

Ralph Lauren took over a different New York city borough — Brooklyn — with a sumptuous event that marked his return to NY Fashion Week after four years and brought out stars like Jennifer Lopez, Julianne Moore, Diane Keaton, Mindy Kaling, Gabrielle Union, James Marsden and many others. After crossing the country last year to stage a lavish show at the grand Huntington Library in San Marino, California, Lauren returned to his home base of New York with Friday's show in a cavernous warehouse space at the Brooklyn Navy Yard, transformed into a reimagined artist's loft. He decorated the space with rustic wood and draped canvases, and added glittering chandeliers above. None other than Christy Turlington closed out the runway show of Lauren's Spring 2024 women's collection, the 53-year-old supermodel looking regal in a one-shouldered gown in shiny gold.

Bengaluru, causing potential inconvenience for school students and office-goers. The Federation of the Karnataka State Private Transport Associations, consisting of 32 private transport associations, has called for a 'bandh' starting from midnight today until midnight on Monday. As a result, most private transport services are likely to be unavailable during this period. Private maxi cabs serve as a vital mode of transportation for many schoolchildren, prompting some schools in the city to declare a holiday on Monday to prevent disruptions for students, according to official sources.

Telugu Desam Party in protest against the arrest of former Chief Minister N Chandrababu Naidu saw lukewarm response on Monday with business as usual at many parts of the state during morning hours. According to Additional Director General of Police (Law and Order) Shankha Brata Bagchi, the situation is peaceful in the state and no untoward incident has been reported. «Situation is peaceful, depending on the situation, the local authorities have promulgated prohibitory orders,» Bagchi told PTI. A local Court in Vijayawada on Sunday remanded TDP chief Chandrababu Naidu in judicial custody for 14 days in an alleged multi-crore corruption scam. The Telugu Desam Party had called for a statewide bandh on Monday in protest against the arrest of its leader. East Godavari SP P Jagadeesh said security has been tightened in Rajamahendravaram in East Godavari district and around the central prison where Naidu is currently lodged. Police were seen dispersing some TDP activists protesting on roads at some places in the state. Several senior leaders including TDP president K Atchannaidu have been taken into preventive custody from their respective places. In Visakhapatnam, the largest city in AP, the bandh saw no impact on normal life during morning hours.

Tony Fernandes said on Monday. Capital A (formerly known as AirAsia Group) sold its Indian airline subsidiary to Tata Group last year. «We are working with the Tata Group and hope to do a lot of work with the conglomerate,» he said on the sidelines of the 21st Forbes Global CEO Conference. Last year, Tata Group-owned Air India signed agreements to acquire a 100 per cent stake in AirAsia India and has commenced the process of merging with Air India Express to form a single Indian low-cost carrier.

Lula da Silva on Monday said that Brazil will put the inequality issue as the core issue during the G20 Summit under its Presidency and said it was a huge challenge for Brazil to take over the G20 presidency. «We will put inequality at the top: inequality of gender, race, education, health, poverty and hunger. The world needs balance,» the Brazilian President said addressing a press conference today after the conclusion of the two-day long G20 Summit in New Delhi on Sunday. «I'm one of the founder member of G20,» said Lula da Silva pointing out that an important meeting like the G20 showed the importance of the multipolar world. Prime Minister Narendra Modi on September 10 handed over the ceremonial gavel to Lula, intiating the process of transition of the President's chair for the next round of the G20 to be held in Brazil. «I would like to congratulate India for organising the Summit exceptionally well.

da Silva, on Monday expressed his wish for the Russia-Ukraine war to conclude and for a return to normalcy when the next G20 Summit in Brazil begins. As reported by ANI, Lula said, “I do not know the reason why President Putin and Xi Jinping did not participate here but I will invite them and I hope that they will come to Brazil and participate in the Summit. I hope that when we open the Summit in Brazil, the war has ended and we are back to normal times." Luna further added, “I would like to congratulate India for organising the Summit exceptionally well.

The 450S comes with a battery capacity of 2.9 kWh, a range of 115 kilometres and a top speed of 90 km/hour. It has a 7 inch display that offers turn by turn navigation, call facility, and music playback features.

On Comex, Gold futures were trading at $1,946.60 per troy ounce on Monday, up by $3.90 or 0.20% while Silver futures were at $23.300, higher by $0.126 or 0.540%. The October Gold futures had ended with losses of Rs 91 or 0.15% per 10 gram at Rs 58,907 on Friday while the December Silver futures closed lower at Rs 71,538, down by Rs 232 per kg or 0.32%. «The gold price will continue to trade in a broader range of $1,905 to $1,935. From a technical perspective, Comex gold has strong support at $1,915.

ANI, Shashi Tharoor said, “The Delhi Declaration is undoubtedly a diplomatic triumph for India. It's a good achievement because right until the G20 summit was being convened, the widespread expectation was there would be no agreement and, that, therefore, a joint communique might not be possible, and, that we might have to end up with a chairman's summary." Moreover, the Congress MP also praised the Modi govt for bringing all member states to a consensus on the New Delhi Declaration.