Citi Financial News

(This Aug. 22 story has been corrected to say that the estimate was from Moody's (NYSE:MCO) catastrophe risk modeling business, not the ratings agency, which is a separate unit of Moody's Corp, in paragraph 1)

travel to European towns, even those without airports.Air India has unveiled its plans to establish an intermodal interline agreement in collaboration with AccesRail, an IATA travel partner, to bolster connectivity options for its passengers traveling to European cities lacking airports. This strategic agreement is poised to offer Air India customers a convenient means of travel by enabling them to embark on a unified intermodal journey using a single ticket. This ticket will grant them access to bus and train connections spanning approximately 100 cities and towns across Austria, Belgium, Germany, and other destinations. These intermodal connections will be facilitated through Air India's European gateways, which include key locations like Amsterdam, Birmingham, London Heathrow, London Gatwick, Milan, and Vienna. AccesRail, in partnership with Air India, has curated a comprehensive network of rail and bus operators under this agreement. This network encompasses prominent names such as Avanti West Coast (UK), Great Western Railways (UK), London North Eastern Railways (UK), National Express (UK), Trenitalia (Italy), ÖBB Austrian Railways (Austria), SNCB Belgian Railways, and Thalys (Netherlands/Belgium).

Russia's invasion of Ukraine has left tens of thousands of dead, displaced millions and sown economic turmoil across the world in the 18 months since its launch on Feb. 24, 2022.Here are some details of the impact:DEATH The war has caused death on a level not seen in Europe since World War Two. More than 9,000 civilians had been recorded as killed and more than 16,000 injured by the end of July, according to the United Nations High Commissioner for Human Rights (OHCHR), which said it believed the actual figures were considerably higher. The war has left nearly 500,000 troops either dead or injured, according to the New York Times. The paper cited officials from the United States, which supports Ukraine, as saying as many as 120,000 Russian troops have been killed and 170,000 to 180,000 injured, with Ukraine's military toll at 70,000 killed and 100,000 to 120,000 wounded. Russian officials say U.S.

A new research conducted by banking giant, Citi, shows that most financial institutions are leaning toward adopting Central Bank Digital Currencies (CBDCs) for faster global payments.

earning 5%, that’s $5,000 in interest and potentially $1,500 in taxes. Whether you’re investing in a high-yielding money-market account, a certificate of deposit, or an I Bond, there are different tax rules. You might owe federal income taxes or state income taxes or both.

real estate as trucking companies look to capitalize on a rare chance to snap up coveted freight terminals across North America. Old Dominion Freight Line last week agreed to buy Yellow’s network of about 170 truck terminals for $1.5 billion, surpassing an earlier offer of $1.3 billion from rival trucker Estes Express Lines. Both bids exceeded the value Yellow placed on its real estate in its bankruptcy filing, signaling the high value trucking companies place on the sites.

New Delhi: The National Health Authority (NHA) announced that Aizawl, the capital city of Mizoram, has become the first state in India to operationalize Ayushman Bharat Digital Mission’s (ABDM) microsite project. Last month, NHA announced 100 microsites project for accelerated adoption of digital health mission scheme across the country. The microsites are defined geographical regions where focused outreach efforts would be made to onboard small and medium scale private healthcare providers.

Lok Sabha elections due next year, political parties are afoot carving pre-poll alliances and setting narratives. The ruling Bharatiya Janata Party (BJP) retains nearly two-fifths of the popular support in urban India, while the parties in the ambitious Opposition alliance have the combined approval of only 28%, the latest YouGov-Mint-CPR Millennial Survey found. The survey indicated that the BJP was set to keep its dominance with a leadership story centred around Prime Minister Narendra Modi and the lack of consensus on a viable alternative.

Ecommerce major Flipkart has started reaching out to sellers ahead of its annual flagship sale, ‘The Big Billion Days’. Walmart-owned Flipkart on Wednesday conducted an on-ground seller conclave in Jaipur, which a statement from the company said was attended by 500 sellers. The ecommerce firm had held a similar conclave in Delhi on August 18, where over 1,200 entrepreneurs participated. Flipkart said it plans to hold more such conclaves to arm sellers with the necessary skills, insights, and tools.

₹30,000 crore, mainly in pipelines, petrochemical projects and city gas distribution, over the next three years. The company's total capital expenditure for FY23 was ₹10,000 crore. "Company is growing steadily and creating infrastructure facilities across the nation.

New Delhi: GAIL expects its natural gas transmission volumes to expand 12% and polymer sales to double this financial year, its chairman has said. “Gas transmission and gas marketing are the key drivers of GAIL’s business and during FY23, we transmitted 107 million metric standard cubic meters a day (MMSCMD) of natural gas, marketed 95 MMSCMD of natural gas and sold 399 thousand metric tonnes (TMT) of polymer,” GAIL chairman Sandeep Kumar Gupta told shareholders at their annual meet. “Current year seems more promising and it is estimated that your company will achieve over 120 MMSCMD of natural gas transmission, over 100 MMSCMD of natural gas sales and 800 TMT of polymer sales.” GAIL also expects the new levelized tariff determined by the regulator for its integrated pipelines to help boost its transmission revenues.

reliance on coal as an energy source. The blast occurred on the outskirts of the historic city of Yan’an, an area deeply rooted in mining activities. The incident unfolded on Monday evening, with a total of 90 miners present in the shaft during the explosion, according to the provincial Department of Emergency Management. The Xintai Coal Mine, situated near Yan'an, experienced the explosion at 8:26 pm on Monday, as confirmed by the municipal emergency management bureau. Of the miners inside, nine were tragically trapped and subsequently found lifeless by the following morning. Two others managed to reach the surface but succumbed to injuries despite resuscitation attempts. An additional 11 individuals suffered light injuries and were transported to hospitals for treatment.

Justice Prateek Jalan presided over a group of petitions challenging the confiscation of automobiles by the authorities. These vehicles were seized due to their infringement of court rulings prohibiting the operation of petrol and diesel vehicles exceeding 15 and 10 years in age, respectively. The court requested the Delhi government to establish a guideline for managing such vehicles in cases where owners pledge that these vehicles will no longer be used within the city limits.

The Russian banks MTS and PSB have begun testing the digital ruble, with “entrepreneurs” using the CBDC to pay for “services.”

Here are some details of the impact: The war has caused death on a level not seen in Europe since World War Two. More than 9,000 civilians had been recorded as killed and more than 16,000 injured by the end of July, according to the United Nations High Commissioner for Human Rights (OHCHR), which said it believed the actual figures were considerably higher. The war has left nearly 500,000 troops either dead or injured, according to the New York Times.

Yogi Adityanath. While, the Jailer actor has clarified why he touched Adityanath's feet on Tuesday, Congress leader Udita Raj has a different opion on this act. Also read: Rajinikanth defends touching Yogi Adityanath's feet According to the Congress leader, debates are happening that CM Adityanath will become the future Prime Minister of India and that's why Rajinikanth touched his feet.

Himachal Pradesh, blocking over 200 more roads, including the Shimla-Chandigarh highway, and damaging some houses in Solan district, officials said on Wednesday. No loss of life has been reported so far. With 200 more roads blocked, a total of 530 roads in the state are now shut. The Shimla-Kalka National Highway 5 connecting Shimla and Chandigarh was again blocked near Chaki Mor besides NH 21 (Mandi-Kullu road) and NH 154 (Mandi-Pathankot) road, according to the data of the State Emergency Operation Centre. Some houses have been damaged in Shakal village on the outskirts of Solan city as gushing waters entered houses and reports of damage to few houses and vehicles in Sabathu area following the landslide have poured in, Deputy Commissioner, Solan, Manmohan Sharma told PTI. As a safety measure, three houses were vacated in Panthaghati and Sanjauli areas of Shimla city and landslides and uprooting of trees have been reported in some parts of the city, Deputy Commissioner, Shimla, Aditya Negi said.

China would make it easier to get home mortgages. It was February 2016 and Zhou Xiaochuan, the central bank's longtime governor at the time, announced what proved to be the start of an extraordinary blitz of lending by China's immense banking system. Minimum down payments for buying apartments were reduced, triggering a surge in construction. Vast sums were also lent to local governments, allowing them to splurge on new roads and rail lines.

Reliance Retail Ventures Ltd, the retail business of Mukesh Ambani’s Reliance Industries Ltd, is looking to raise Rs3,048 crore through an infrastructure investment trust (InvIT) of its warehousing and logistics infrastructure assets, shows a draft document filed with Sebi. ET first reported on 12 April that Reliance was planning to monetise the warehousing and logistics assets of its retail business through an InvIT and that the group had set up a trust under the name of Intelligent Supply Chain Infrastructure Trust for this purpose. Reliance Retail will hold a minimum of 25% units of the trust and balance will be sold to incoming investors. Of the total issue proceeds of Rs3,048 crore, around Rs100 crore will be used for acquiring equity shares of a special purpose vehicle (SPV) created to hold the warehousing assets, while a sum of Rs2,928 crore will be used to provide a loan to the SPV for acquisition of the warehousing and related logistics assets. The initial proposal is to acquire warehouse space of 12.77 million square feet and related logistics infrastructure for a consideration of Rs4,261 crore. Additionally, the trust has also entered into a lending agreement with Sikka Ports and Terminals Ltd, a Reliance group entity, to avail a rupee term loan of Rs2,122 crore, which will also be utilised towards acquisition of the warehousing assets. The portfolio of assets will comprise 64 warehouses spread across 34 cities across India including key warehousing markets such as Delhi NCR, Mumbai, Bengaluru, Chennai, Kolkata, Ahmedabad, Pune and Hyderabad.

(This story originally appeared in on Aug 23, 2023)

Brazilian police have asked courts to freeze the crypto holdings of suspected electronics-trading fraudsters as part of a “mega operation.”