Citi Financial News

Blinkit, the quick-commerce arm of food delivery major Zomato, has introduced an option to purchase items on equated monthly instalments (EMI). “EMI options will be applicable on all orders above Rs 2,999 (except orders that contain gold and silver coins),” Blinkit chief executive Albinder Dhindsa wrote in a post on microblogging platform X. This is similar to ecommerce platforms, which have been offering EMI options for a while. The move is aimed at making purchases more affordable for consumers, driving higher spending, especially for big-ticket items.

Subscribe to enjoy similar stories. For Rick Blaine, there will always be Paris. But, but for many others, there is so much to explore in the rest of France.

Subscribe to enjoy similar stories. The Indian stock market recently witnessed a landmark event – the successful completion of Hyundai Motor India’s ₹27,870-crore initial public offering, the country’s biggest IPO to date. The last time a car maker went public was in June 2003, when Maruti Suzuki launched its ₹990-crore IPO.

Ashok Leyland on Thursday announced that its electric mobility arm OHM Global Mobility has bagged an order for 500 12-m ultra-low floor electric buses from the Metropolitan Transport Corporation (MTC), Chennai. Further, another subsidiary of the commercial vehicle manufacturer, Switch Mobility, will supply EiV12 model buses to OHM, who in turn shall operate and maintain the buses over a period of 12 years, as per the contract awarded by MTC. This announcement comes days after the Hinduja Group's flagship company began delivery of electric trucks to Chennai-based Billion Electric Mobility (Member of Group BillionE), marking the company's growing focus on electric mobility. Ashok Leyland had bagged a contract to supply 180 electric trucks to Group BillionE which would be operated in the Chennai-Bengaluru, Chennai-Vijayawada routes.

Subscribe to enjoy similar stories. Lawrence Bishnoi, a 31-year-old vegetarian with a handlebar mustache who authorities say controls a violent gang from his high-security prison cell in India, is at the center of a diplomatic brawl between Canada and India. To Indian law-enforcement officials, Bishnoi is a “dreaded gangster" who over the past decade has made a daring prison break, threatened a Bollywood star, and found his gang accused of killing a rapper considered a rival.

Electronic City, and reportedly, people were left stranded on a flyover for over three hours. The Times of India tweeted a video of the massive jam. According to ToI, thousands of people got off their company vehicles and buses, walking towards their homes on Wednesday night following the traffic gridlock below the Electronic City flyover after rains. «People were stranded on the flyover for around 3 hours!» ToI claimed.

This time last year, Citi was preparing to thin the ranks of its investment bank as part of CEO Jane Fraser'sBora Bora cuts. In the wake of those cuts, the bank restructured its debt capital markets (DCM) team in March 2024, and — among other things — made Colm Rainey head of corporate and financial institutions group debt capital markets for UK & Ireland in the process.

The Israeli army has accused six Al Jazeera journalists covering the war in Gaza of also being current or former paid fighters for Palestinian militant groups

Subscribe to enjoy similar stories. Raymond Lifestyle Ltd, the textiles and apparel company known for its suits and other formal wear, has ventured into categories such as ethnic clothing, innerwear, and sleepwear. Will its journey be comparable to that of any brand? Not exactly, since Raymond remains focused on men’s clothing and continues catering to consumer and business segments.

Subscribe to enjoy similar stories. Bengaluru: Bike taxis and autos outnumber cars on Uber Technologies' fleet of 1 million taxis in the country, accounting for about a third of the American ride-hailing company's total revenue. The San Francisco-headquartered company also claims that 3% or 30,000 of its taxis, including cars, bikes and autos, are electric, making it the ride-hailing platform with the biggest electric fleet in the country.

New York City doesn't require a license to run a hotel, but that's likely changing soon

Karur Vysya Bank has given a good set of numbers. City Union Bank yesterday has given a good set of numbers and a few of the PSU banks have given a good set of numbers as well," says Mayuresh Joshi, Head Equity, Marketsmith India. Broader markets is where the pain is pretty sharp but one of the stock that is holding out in this sort of a market is ICICI Bank. While one end of the market, you have ICICI Bank that is holding onto the positive territory. You have IndusInd Bank that has hit a 52-week low on an intraday basis today. What is your take when you talk about the banking space as a whole then? Mayuresh Joshi: So, two things, one, the numbers for most banks, specifically the larger ones have been pretty good. Axis Bank gave a good set of numbers. HDFC Bank, good set of numbers and the commentary was equally encouraging. Kotak had their one misses in the numbers itself, so quite a few one-offs in the numbers. Expectations that as rate cut cycle starts in India as well, some element of positivity expected to come through.

A small town in far eastern Cuba is recovering from flooding that killed at least seven people after Hurricane Oscar crossed the island’s eastern coast as a tropical storm with winds and heavy rain

City Union Bank (CUB) after the better-than-expected second-quarter results. The price targets imply a 1-19% rise in the stock over its Tuesday closing price of ₹168.5. City Union Bank shares rallied 11.9% on Tuesday in a weak market in response to the September quarter earnings.

Ajmal Sultan, is gaining attention on social media for his initiative to address language barriers in his city. Sultan has placed a poster inside his auto with basic Kannada phrases and words translated into English, aiding non-Kannada speakers in communicating better. Titled "Learn Kannada with Auto Kannadiga," the pamphlet includes useful phrases for ride-specific interactions and features a QR code linking to pronunciation videos. Sultan shared a video about his initiative on social media, which drew widespread attention after being shared by an X user named Vatsalya Tandon, who referred to it as “very handy.” The post garnered various reactions. One user appreciated the polite encouragement to learn a new language, stating, «Good way to politely ask people to learn a new language.» Another user, who called the initiative “brilliant,” expressed a newfound interest in learning Kannada before visiting Karnataka.

Over 70% of transport-related greenhouse gas emissions come from road vehicles, with passenger cars contributing nearly half. So, it's essential for cities to invest in sustainable public transport systems that encourage people to rely less on their cars. European Investment Bank (EIB) is a key partner in this transformation of urban mobility. By financing the development of six modern metro systems in Agra, Bengaluru, Bhopal, Kanpur, Lucknow and Pune, EIB is helping to create more sustainable, accessible and cleaner transport options. To date, EIB has committed ₹30,225 cr to urban mobility in India, its largest investment in this sector outside of Europe.

India Meteorological Department (IMD) has issued a yellow warning for Wednesday, forecasting further rain showers. According to local police, an under-construction building collapsed in Babusapalya, near KR Puram Railway Station, leading to the death of three labourers. Fourteen people were rescued, while three others remain missing. Rescue operations are ongoing, officials said. In a separate incident, two children drowned in Kengeri Lake after becoming trapped in the marsh. Meanwhile, the Karnataka Innovation and Technology Society (KITS) released an advisory on Tuesday evening, urging IT, BT, and private companies to allow employees to work from home on Wednesday, October 23, due to the heavy rain forecast for Bengaluru Urban district. This is the second time in two weeks that the government has recommended remote work for private-sector employees.

work from home on Wednesday, October 23, due to a heavy rain forecast in the Bengaluru Urban district. This would be the second time in two weeks that the government has recommended WFH for private companies. “The India Meteorological Department (IMD)—Met Centre Bengaluru has issued a yellow warning for Bengaluru Urban, effective from 1:30 PM on October 22 to 8:30 AM on October 23. The warning indicates potentially bad weather conditions due to heavy rainfall,” said Champa E, General Manager of KITS, adding that the safety and well-being of the employees should be prioritised in such circumstances. Bengaluru Urban District Commissioner G Jagadeesha also issued a directive declaring a holiday for all schools; however, there is no such order for colleges.

Urban India is under some strain as demand continues to be muted amid surging food inflation, packaged foods maker Nestle India’s chairman Suresh Narayanan said at a media briefing on Tuesday at the company’s infant foods plant in Samalkha. He said there are “some pressure points from mega cities and metros" though tier one and below towns and rural markets seem to be reasonably stable. “The FMCG sector is facing sluggish demand with growth declining to 1.5-2 per cent compared to double digit growth a few quarters ago,” Narayanan said. The maker of Maggi noodles, KitKat chocolates and Nescafe coffee, reported a marginal 0.94% year-on-year decline in net profit for the July-September ’24 quarter, down to Rs 899.49 crore, hurt by softer demand and high commodity prices. The India unit of the Swiss foods company had reported net profit of Rs 908.08 crore in the year-ago quarter.

Reliance Infrastructure on Tuesday said it will set up the largest integrated project for manufacturing of explosives, ammunition and small arms in Ratnagiri, Maharashtra at an investment over Rs 10,000 crore in the project over the next 10 years. Reliance Infrastructure through its subsidiaries has exported defence equipment worth more than Rs 1,000 crore over a period of time, it added. «The company has been allotted 1000 acres of Land in Watad Industrial Area of Ratnagiri, Maharashtra to develop Dhirubhai Ambani Defence City (DADC). DADC will be the largest GREENFIELD project in the Defence Sector in India by any private sector company,» the company said in a statement.