Citi Financial News

union cabinet on Wednesday approved Rs 57,613 crore green mobility scheme, seven multitracking rail projects worth Rs 32,500 crore and a Rs 13,000 crore scheme to upskill and provide concessional credit to craftsmen. "....Priority will be given to cities having no organised bus service," Information and Broadcasting minister Anurag Singh Thakur told reporters after a meeting of the cabinet chaired by Prime Minister Narendra Modi.

WASHINGTON (Reuters) -The United States on Wednesday imposed sanctions on three entities it accused of being tied to arms deals between North Korea and Russia as Washington cracked down on those seeking to support Russia's war in Ukraine.

A Massachusetts millionaires tax can encompass people who rise above the $1 million earnings threshold only briefly as the result of the sale of a home or business, but financial advisors say most of their clients won’t be affected.

Atlantic City Airshow returns, featuring flight wonders on the Jersey Shore. The event highlights antique planes, aerobatics, parachuters and military prowess. The Thunderbirds headline with aerial stunts. The free event is on August 16 from 11:30 a.m. to 4 p.m. The Atlantic City Airshow offers a dynamic display of aviation feats, honoring service personnel and delivering a boost to the local economy. Visitors can enjoy a range of performances and exhibits, all against the picturesque backdrop of the Jersey Shore. The U.S. Air Force Demonstration Squadron, The Thunderbirds, is the headline act, performing precise aerial maneuvers with Lockheed Martin F-16 Fighting Falcons.

NEW DELHI : The Union cabinet on Wednesday cleared a raft of programmes spanning mobility to digital, totalling ₹1.18 trillion, about eight months ahead of general elections. Railways bagged the biggest chunk of about ₹32,500 crore, which will go into seven projects, including laying multiple tracks in busy routes to ease operations and reduce congestion. All projects will be fully funded by the Centre.

wholesale prices at the factory level have been falling for 10 months now. This means that there is a slowdown in demand, both domestically as well as internationally. In July, China’s goods exports in US dollar terms fell by 14.5% from July 2022.

United States Steel Corp. seems poised to be soon purchased by a competitor, with two bidders revealed in a matter of days and more in the wings

A plan for how Indonesia will spend $20 billion to transition to cleaner energy was submitted Wednesday to the government and its financing partners

Syria’s president Bashar al-Assad has doubled public sector wages and pensions as the war-torn country’s national currency spiraled further downwards, reaching a new low for the year

street circuit, which will also hold night races, was launched by the Tamil Nadu government and RRPL here on Wednesday. The state government has partnered with Racing Promotions Private Limited (RRPL) for the project. RRPL is also the promoter of the Indian Racing League and F4 Indian Championship.

affordable housing stock by nearly two-thirds. Officials said they would give first preference to artists certified by the city. New Rochelle is emerging as a potential blueprint for overcoming the various political, financial and community obstacles that have made efforts to build multifamily housing in the suburbs an often insurmountable task.

AP. Police chief Rizwan Khan said this had angered the local Muslims. A mob gathered and began attacking multiple churches and several Christian homes, burning furniture and other household items.

PM-eBus Sewa scheme to deploy 10,000 electric buses across India will take electric mobility to the grassroots level and boost localisation, automobile industry players said on Wednesday. The Union cabinet on Wednesday approved 'PM-eBus Sewa' for augmenting city bus operations, under which priority will be given to cities having no organised bus service.

Future Retail Ltd has approached the National Company Law Tribunal (NCLT), seeking a further extension till September 15 to complete the corporate insolvency resolution process (CIRP) of the debt-ridden firm. The RP of the company has moved an application before the Mumbai bench of NCLT to exclude a period of 29 days from CIRP of Future Retail Ltd, according to a regulatory filing. «The Resolution Professional of Future Retail Limited (FRL) has filed an application before National Company Law Tribunal, Mumbai seeking exclusion of a period of 29 days from CIRP of FRL, and consequent extension from August 17, 2023 to September 15, 2023 for concluding the CIRP of FRL,» it said. If approved, this would be a third extension for FRL which, according to some reports, is struggling to attract a buyer despite changes in the bid conditions. Last month, NCLT extended the deadline to August 17, 2023, after allowing the plea of FRL to exclude 33 days from the CIRP. In April, NCLT granted FRL an extension of 90 days till July 15, 2023, for concluding the CIRP.

IndiGo, owned by InterGloble Aviation, stated on August 16 that they will start flight services between Almaty and Delhi from September 23, 2023, onwards. This will be IndiGo’s 32nd international destination and the 111th overall station within the extensive 6E network.

By Howard Schneider

It was Atal Bihari Vajpayee who first dreamed of connecting the four corners of the country through highways when he was the prime minister nearly two decades ago. Vajpayee carried on the spirit of economic reforms introduced by the PV Narsimha Rao government in 1991. Regarded by some as the father of India's second-generation economic reforms, Vajpayee, whose death anniversary falls today, is remembered for several firsts.

CarTrade Tech Ltd is looking at acquisitions in the automotive and autotech space to consolidate its share, according to Vinay Sanghi, the founder-chairman of CarTrade. “My gut says it will be automotive and automotive tech, which is what we are good at. And that’s where we will keep looking.

reported a growth of 102 per cent in net profit in the June quarter, but Reliance Industries witnessed a decline on net profit on weaker oil-to-chemicals (O2C) business, despite steady growth in retail and telecom arms. The diversified conglomerate's O2C's revenue declined 17.7 per cent at ₹1,33,031 crore in the quarter-under-review, compared to ₹1,61,715 crore in the year-ago period.

Emirates will almost double the number of flights to London Heathrow from Dubai on a temporary basis to meet the demand during the busy winter season. The airline has announced it will operate an additional five-a-week service to London Heathrow starting from 31 October 2023 until 30 March 2024. Currently, Emirates serves London Heathrow with six daily A380 flights.

A Startup India initiative String Metaverse Limited, a global Startup India company with a focus on creating gaming communities. String Metaverse Limited has offices in Hyderabad, Dubai, Gift city and Hong Kong currently String Metaverse Limited is a Web 3.0 GameFi startup and fintech platform that enables business partners to offer online gaming services, Play2Earn, Free2play that include rewarding games (Real Money Games) for every transaction covering Retail, E-commerce, Food and Beverages industries.