Citi Financial News

FIFA World Cup events, the stage is set for an exciting future of international tournaments. Let's delve into what lies ahead in the realm of World Cup hosting. The year 2026 is poised to witness the FIFA World Cup make its way to North America.

Delinquency rates for India’s digital lending industry fell 50 basis points to 4.2% in FY23, according to a report by Fintech Association For Consumer Empowerment (FACE) and credit rating agency Equifax. For the digital lending industry, which came under pressure during Covid-19, FY21 and FY22 were tough years as several large credit fintechs had to provision for bad loans due to rising delinquency rates, thus accumulating losses, the report said.

New Delhi: Denmark-based logistic firm A P Moller-Maersk on Monday said it is expanding its fleet of electric vehicles to over 500 for deployment across 26 cities covering first, middle and last-mile distribution for one of the top e-commerce platforms in India. The expansion ties with Maersk’s ambition to become net zero across businesses and provide customers with 100% green solutions by 2040, it said.

Zomato on Monday said it has partnered with Battery Smart to provide battery-swapping access to its delivery partners on the latter's network. Under the partnership, Zomato's delivery partners can get access to Battery Smart's existing network of over 800 swap stations across more than 30 cities, the company said in a statement.

Canara Bank on Monday launched UPI Interoperable Digital Rupee mobile application as a part of the Reserve Bank of India's Central Bank Digital Currency (CBDC) pilot project.Canara Bank is the first Bank among public and private sector banks to introduce this feature in Bank’s CBDC mobile app called 'Canara Digital Rupee app'. «With the introduction of this feature, customers will be able to scan merchant UPI QR codes using the app and make the payment through digital currency. Further, this feature empowers the merchants to accept digital currency payments using their existing UPI QR codes in addition to the UPI based payments without the requirements of a separate on boarding process for CBDC,» the company said in a release. «The launch of Canara Bank Digital Rupee mobile application enabled with UPI Interoperability is a revolutionary step towards digitalizing the Indian economy. He expressed pride in the launch of the app, which will enable customers to enjoy the benefits of fast and secure transactions with digital currency devised by RBI,» said K Satyanarayana Raju, the Managing Director and CEO of Canara Bank. The application is available for both Android and iOS users. The digital currency is a legal tender as per RBI regulations, and the launch of this app is a significant step towards the adoption of digital currency in India, as per the bank.Features of the application

Fortescue will start building its $US2 billion ($3.1 billion) Australian iron ore mine and rail project within three years, according to regulatory filings that contradict chairman Andrew Forrest’s suggestion in February that the mine had been deferred until the 2030s.

Volodymyr Zelenskyy thanked Danish lawmakers on Monday for helping his country resist Russia's invasion, a day after Denmark and the Netherlands announced they will provide Kyiv with American-made F-16 warplanes.Zelenskyy said that if Russia's invasion is successful, other parts of Europe would be at risk from the Kremlin's military aggression. «All of Russia's neighbors are under threat if Ukraine does not prevail,» he said in a speech in Copenhagen. Zelenskyy portrays Ukraine as defending Western values of freedom and democracy against tyranny and argues that Ukraine needs to be properly provisioned to fend off Russia's much bigger force.

Anuj Puri, Chairman & Founder, Anarock Group, says real estate “sales across the board, across all the major cities and even the tier-2 metros, seems to be pretty robust. The good thing is this is not coming on the back of speculators or investors. This is coming on the back of end users, younger end users, who are really wanting to buy it whether it's for social security or for other reasons, wanting to buy the residential.”Developers in the NCR region have planned a slew of launches in the second half of the year. That is a phenomenal 2023. Could 2024 be a record year too because we have seen volumes coming out of that region are very strong. Do you see that trend continue?It is appearing like that.

Russia and China will look to gain more political and economic ground in the developing world at a summit in South Africa this week

₹550 crore from BPEA Credit, a private credit platform, last December. WeWork India chief executive Karan Virwani said WeWork continues to be a category-defining brand. The recent news of WeWork globally did stir up questions among tenants and members in India, but Virwani said the management has explained to them that business in the country will continue as usual.

ChefKart has announced the launch of Chefit (one-time cooking service), Monthly Subscription (cook for a month), Chef for Party, and Royale (Full-time in-house cook). Through Chefit service, a cook can be hired for one-time to prepare meals for up to 8 individuals. Its other the Monthly Subscription, offers trained and verified cooks for a month, with options like the Basic Plan and Basic Plan + Premium Upgrade.

MUMBAI — Electronics Mart India (EMIL) has been one of the best-performing stocks in the consumer durables space, giving about 50% returns to investors so far in 2023. The company is the fourth largest consumer durables retailer in India, having 133 stores across 47 cities and six states.

₹10 crore, the Mumbai Police's Economic Offences Wing (EOW) registered an FIR against 4B Networks Pvt Ltd company's senior official Rahul Yadav and Sanjay Saini. The complaint was filed by Rajasthan-based Vikas Om Prakas Noval. Vikas is the director of Interspace Communication Private Limited, the EOW official told PTI.

«So this kind of a product mix and an ability to give a wider range of product in large number of branches have helped us. So overall, we believe that this is going to continue for some time but our long term guidance of 15% CAGR would remain,» says Umesh Revankar, Executive VC, Shriram Finance.The narrative of your company has changed with the focus on high yielding mix and revamped post the merger business model. This time you reported an AUM growth of 19% versus your own guidance of 15%. How do you think you are going to evolve over the longer term as well as the medium term? Yes, we have grown more than the guidance given.

India Day Parade’ outside India kicked off on Sunday afternoon in New York City, with the celebration witnessing huge floats and marching groups comprising members of the Indian-American community. Supporting the spectacle were several members of the diaspora including spiritual Guru Sri Sri Ravi Shankar, actors Samantha Ruth Prabhu, Jacqueline Fernandez and New York City Mayor Eric Adam. The parade began at 12 pm (local time) at 38th Street and Madison Avenue in New York.

stopped publishing them altogether. Higher education is no longer a reliable ladder to a solid career. Our calculations show that in 2021 over 70% of those unemployed youngsters were graduates.

Los Angeles on Sunday as the system made its historic arrival in California after barreling through Mexico's Baja California peninsula with deadly force. One person died in Mexico amid reports of flash flooding in the peninsula, where some roads were swept away and images on social media showed raging torrents gushing down city streets that been turned into rivers. California Governor Gavin Newsom declared a state of emergency for much of Southern California, with flash flood warnings in effect until at least 3 a.m.

“We are looking at investing in a business in Tier II, III cities. The government's initiatives and the ecosystem they've built are genuinely remarkable, some aspects even surpassing what the metros offer,” says Vignesh Shankar, Founder and Managing Partner at artha99. In an interview with ETMarkets, Shankar said: “I think the next wave is going to come from tier 2, tier 3 cities, what I call the Dhoni moment” Edited excerpts:Thanks for being part of the segment. Take us through the fund performance of Artha99 CAT 1 AIF. Thank you once again for having me here.

A South Korean man has been handed a suspended jail term of almost three years after he was found guilty of armed robbery “to clear a crypto debt.”

saving, spending and investing decisions, such as allocating money for life goals, sticking to a budget, making investments in different assets, and devising strategies for a rainy day. It is a crucial life skill, and when instilled at a young age, it can become a cornerstone for building a prosperous future. Learning about money management early lays the groundwork for responsible financial behaviour as an adult and helps navigate the complexities of personal finance confidently.

Libya’s central bank has announced its reunification after being split for nearly a decade due to the country’s long-running civil war that resulted in two rival administrations, in the east and the west