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Gold and silver prices today, 16 October: Check the latest 24K, 22K gold and 999 silver retail rates across Delhi, Mumbai, Kolkata and other major Indian cities, along with MCX market updates.
India's Balance of Payments (BoP) is turning positive, but it is likely to remain lower than earlier expectations as elevated oil prices and an expanding non-oil, non-gold deficit weigh on the external trade position, according to a research report by ICICI Bank Global Markets.
Nepal FM Khanal urges Indian investors to expand investments
Khanal underscored the need for transforming the potential emerging from the bilateral relations into concrete economic achievement
PM Modi inaugurates Chennai Metros Poonamallee-Vadapalani stretch, rides along with CM Vijay
There are a total of 11 elevated Metro Stations covering approximately 15 km in the newly inaugurated stretch
DA news: Himachal Pradesh to release dearness allowance installment for Diwali? CM Sukhu says...
DA news update: Himachal Pradesh Chief Minister Sukhvinder Singh Sukhu said the state government is considering releasing a Dearness Allowance (DA) instalment on Diwali this year. Here's what we know
Bandhan AMCs Suyash Choudhary on RBI rate hikes, bond yields, and debt strategy
Bandhan AMCs Suyash Choudhary explains how rising rates affect savers, why investors should keep debt portfolio duration short, and how to balance yield, credit quality and currency risk.
India unveils steel policy aiming for 604 million tonne capacity by 2047
Policy lays out plans to cut sector emissions and shore up access to iron ore and coking coal
Jailer 2 has got everyone talking, especially with Hrithik Roshans electrifying cameo alongside the iconic Rajinikanth. Hrithik steps into the role of Roddy, playing a crucial part in aiding Rajinikanth's character, Tiger Muthuvel Pandian, during a critical juncture. Read on to know more about Bollywood actor's role.
Saudi airport attack kills 12, injures over 300; Trump weighs military intervention
Saudi Arabia faces mounting security concerns as airport operations halt, international travel warnings spread and regional fighting intensifies across Yemen
Anna Faris has reacted to Chuck Lorres comments about his initial reluctance to cast her as Christy Plunkett in the sitcom Mom. In an Instagram statement, the actress said the remarks hurt but expressed gratitude for the seven years she spent on the show. Faris also revealed she has been sober for 18 months and is now healthy, working and happier than ever. Her response comes six years after she announced her departure from the CBS sitcom.
Surkamp, the lead singer of Pavlovs Dog, has died at 73. The band announced his death in a Facebook post by Abbie Steiling. She paid tribute to his musical legacy, poetic spirit and love of performing. Surkamps music touched fans across generations.
Steven Soderbergh has steped in to aid the completion of 'The Batman Part II', with Matt Reeves still at the helm. The film is reportedly two-thirds finished but has endured several delays since its initial announcement. Robert Pattinson is set to reprise his role along with returning cast members and some exciting new faces. It's scheduled for release on February 18, 2028.
Reliance Industries expressed its openness to competition in the satellite broadband market, including Starlink. The company emphasized the need for all players to adhere to the same regulatory processes and laws. Reliance stated that it has never shied away from competition, drawing parallels to its own entry into the telecom sector. Jio has established a significant customer base by providing affordable digital services throughout India.
Consolidated Account Statement covers stocks, mutual funds and NPS. Could insurance be next?
SEBI is exploring the inclusion of insurance policy details in the Consolidated Account Statement (CAS), which already covers investments such as mutual funds, equities, debt securities and NPS.
The Diplomat Season 4 OTT release: Plot, cast and what to expect after Season 3s shocking finale
The Diplomat Season 4 raises the stakes as Kate Wyler faces a political crisis threatening international peace and her troubled marriage. A conspiracy involving President Grace Penn, Vice President Hal Wyler and Russias most powerful weapon could push the United States towards war. Following Season 3s finale, which saw Grace become President after her predecessors death, the new season promises fresh betrayals, dangerous alliances and unexpected twists.
5,000 monthly small-cap SIP for 20 years: How much could your daughter get at 25?
A 5,000 monthly SIP in a small-cap mutual fund could grow significantly over 20 years. Compare illustrative SIP returns of 12% to 18% with bank deposit returns of 6% to 8% and understand the risks of long-term investing. Seek professional guidance before making any investments.
IndiGo extends cancellation of Saudi Arabia flights till Oct 24
Akasa Air has extended suspensions to Riyadh until Oct 24 and Jeddah until Oct 21 due to West Asia security concerns
'India's dynamic market': Canada Trade Minister Sidhu highlights opportunities for Canadian firms
Canadian International Trade Minister Maninder Sidhu has highlighted opportunities for Canadian companies in India's dynamic market, identifying artificial intelligence, quantum computing, aviation infrastructure, digital innovation, sustainability and smart mobility as key areas for bilateral cooperation.
Ranabaali was released on October 16 and stars Vijay Deverakonda and Rashmika Mandanna in lead roles. Early reactions on social media highlight divided opinions about the film. Viewers criticised the pacing, length, and background score despite a strong production design. Read on to know what netizens are saying.
Indian rice export prices hit over 1 year high on stronger rupee, crop supply concerns
Asian rice export prices have risen as Indian rates reach a one-year high amid supply concerns. Vietnamese prices are also increasing, expected to meet strong demand from the Philippines in November. Thailand's rice prices are climbing due to flooding delays and heightened purchasing activities before the season ends. In Bangladesh, rising paddy prices have led to increased costs for consumers struggling with high living expenses.
Several large Indian mutual funds, including HDFC, Kotak Mahindra and UTI, halted bulk subscriptions to gold ETFs ahead of the festive season. Here's what changes for investors and what happens to your existing SIPs
Windfall levies reduced on diesel, hiked on petrol
Export levies on diesel have been cut to 8.50 per litre from 16 per litre. On petrol, it will be 2.50 per litre, as against 0.50. No change for ATF
5 killed, 16 injured in Houthi attack on Yemen's Aden presidential palace
US Iran war news: A recent Houthi attack targeted the al-Maashiq Presidential Palace in Yemen, killing five people and injuring 16 others. Following this strike, Yemen's President Rashad al-Alimi called for measures to protect government institutions. Houthi spokesperson Yahya Saree claimed responsibility for the assault, stating it targeted Saudi operations in Aden. Government forces retaliated with numerous attacks on Houthi positions, claiming significant destruction of Houthi assets.
Credit card reward points expiring? Why you should avoid unnecessary spending
Credit card reward points can help save money during the festive season, but redeeming points that are about to expire should not lead to unnecessary spending. Check expiry dates, compare redemption options and understand restrictions before deciding whether to use your rewards or let them expire.
The much-anticipated Jailer 2, starring the legendary Rajinikanth in the role of Tiger Muthuvel Pandian, was released on October 15 and soared at the box office. On its first day, it garnered an exceptional Rs 59.70 crore net in India. Read on!
Delhi on high alert ahead of protest against CEC
57 Metro stations to shut, 45 trains cancelled
e3W sales surge 40% in September; market share rises to 64.9%
Bajaj leads the chart followed by Mahindra and TVS
Monetary tightening likely to keep industrial metal prices on leash
Ferrous and non-ferrous metals have come under pressure on fears of a hawkish stance from US Fed
Four trains from Jammu division cancelled due to congestion in Delhi
The cancelled services include three trains between Shri Mata Vaishno Devi Katra and New Delhi -- Train Nos. 12446, 04082 and 22462 -- and Train No. 12426 Rajdhani Express between Jammu Tawi and New Delhi
World economic growth to slow to 2.6% in 2026, UN trade body says
Asia is projected to contribute 59% of global economic growth in 2026, with India expanding at 7.3%, China by 4.5% and Indonesia by 5.2%
Looking to ride India boom over next decade with IDBI Bank, says Fairfax chief Prem Watsa
Prem Watsa, chairman of Fairfax Financial, has acquired a major stake in IDBI Bank, emphasizing India's economic growth potential. He believes that India will experience significant economic advancements over the next decade. Watsa expressed confidence in the bank's financial recovery and potential for expansion after overcoming past challenges. He assured that the focus will be on maintaining the lender's fiscal integrity and staff welfare.
Govt withdraws tax benefit for banks on gold, silver, platinum imports
This is done to ensure parity of taxes imposed on imports of gold and other metals through different routes, Revenue Secretary says
Supreme Court rules against Yes Bank's write-off of Rs 8,415 crore AT1 bonds
The Supreme Court confirmed the decision of the Bombay High Court regarding Yes Bank's AT1 bonds. This ruling impacts 8,415 crore in bonds written off during the bank's 2020 restructuring. The court noted that the administrator lacked the authority to write down these bonds. Bondholders had contested the write-off, citing mis-selling of the securities. Yes Bank is now obligated to repay the bonds along with accrued interest.
Cargo traffic handled by major ports rises 8% in Apr-Sep 2026
The data show that the overall growth in major port traffic was supported by higher container, POL, iron ore and coal volumes, even as two ports - Chennai and Paradip - recorded lower throughput, according to the data
Fairfax gets 15 years to reduce stake in IDBI Bank to 26%
Fairfax Financial Holdings will acquire a 60.72% stake in IDBI Bank and reduce its ownership over 15 years. The Reserve Bank of India has allowed Fairfax to decrease its stake to 26% eventually. Fairfax has two years to decide the future of CSB Bank, including merger or sale options. The group aims to transform IDBI Bank into a comprehensive financial services entity.
Money is going into data centres and AI in US... now India will be on everyones list: Prem Watsa
Canadian billionaire Prem Watsa's bet on IDBI Bank is backed by faith in the Indian economy, he told Mohit Bhalla and Sruthijith KK in a phone interview. The government Wednesday approved the divestment of a majority stake in IDBI Bank to Watsa's Fairfax Financial Holdings. Watsa, 76, who was born near Hyderabad and studied at IIT-Madras, migrated to Canada in the 1970s. Started by him as an insurance company, Fairfax Financial now has assets of over $100 billion. Edited excerpts from the interview are in the copy.
Maharashtra FDA chief Tukaram Mundhe bans sale of loose spices
Maharashtra Food and Drug Administration has implemented a ban on loose spices to combat adulteration. The ban comes after discovering harmful industrial dyes in local spice samples. Action will be taken against manufacturers who violate the compliance order issued by the FDA. The FDA will also regulate the storage of spices to ensure public health isn't jeopardized.
India-US trade pact in last leg of legal drafting, says Piyush Goyal
India is currently in the final stages of legal drafting for a trade agreement with the US, which is expected to be operational soon. The agreement, following sessions with US trade representatives, aims to ensure preferential access for Indian exporters. Indian officials hope for tariff stability and seek resolution on outstanding issues before the deal is signed.
Demand for bank loans rises amid hardening yields
Canara Bank and Indian Bank reported a total corporate loan pipeline of 1.10 lakh crore between them. The banks are experiencing steady credit demand from corporate clients amid rising bond yields. Canara Bank expects to maintain around 19% credit growth, while Indian Bank targets a 14-15% growth rate. Both banks highlighted the importance of improving deposit growth to narrow the credit-deposit gap.
India must leverage AI, cultural soft power to shape global media industry: Rajan Navani
India has the potential to leverage its cultural heritage and creative capabilities for economic growth in various sectors. Rajan Navani emphasized the collaboration required among industry and government to achieve this vision. The focus is on using artificial intelligence responsibly to improve creativity in the media landscape. Educational institutions play a role in fostering skills in emerging technologies and engaging audiences.
Sonali Kulkarni, one of the better known faces in the silver screen in the 2000s, recently opened up on her childhood. She revealed how her upbringing had been humble and her mother used to prepare food and chutneys to run the household, and the family never earned enough to pay taxes.
SC ruling deals a heavy blow to Yes Bank's risk equity capital
Yes Bank is facing a significant reduction in its Common Equity Tier-1 capital buffer following a recent Supreme Court ruling. The court reversed the earlier write-down of over $800 million related to additional Tier-1 bonds. Analysts suggest that this verdict could lower Yes Bank's CET1 ratio to approximately 11-11.5%. The bank is currently analyzing the judgment to assess the final impacts on its financial standing.
Indias creator economy evolves into a media powerhouse, says YouTube India MD Gunjan Soni
Gunjan Soni announced that India's creator economy is transforming as creators develop professional media businesses. YouTube's ecosystem made significant contributions to the GDP, supporting nearly a million jobs in 2025. The export of Indian culture is growing, with creatives reaching international audiences through various formats. AI is positively impacting productivity for creative workers, and investments in technology are urged. Collaboration is essential to advance the opportunities within India's storytelling potential.
Markets will push the US to act constructively: Nouriel Roubini
Nouriel Roubini highlighted the significance of India's emerging economy during a recent event in Dubai. As the US seeks a constructive trade relationship with India, economic pressure is expected to guide policymaking. India is seen as vital due to its large domestic market and skilled workforce. The country needs to achieve near 9% growth to address job creation challenges amid AI advancements.
HDFC, ICICI Prudential, Tata Mutual Fund halt fresh investments in gold ETFs ahead of festive season
Tata Mutual Fund, HDFC Mutual Fund and ICICI Prudential Asset Management Company have restricted fresh investments in their gold fund-of-funds (FoFs) ahead of the festive season. Existing investors can continue their registered SIP instalments and redeem their investments.
Margarita M. Balmaceda examines the hidden dynamics of energy dependency between Russia and other nations. The discussion highlights Russia's role as a 'Trojan horse' in energy politics. Recent diesel deals between the US and Russia may have limited short-term benefits for American consumers. Additionally, the implications of these deals could adversely impact Ukraine's situation. This situation reflects a troubling double standard in international energy relations.
Homegrown firms enter budget smartphone market as memory chip prices rise
India's budget smartphone market is opening up for local brands as global companies reduce their presence. Rising memory chip prices have significantly impacted entry-level smartphone production costs. Homegrown companies Ai+ and Lava are gaining traction in this competitive segment. Micromax plans to re-enter the smartphone market by evaluating various strategies. Brands aim to leverage the government's financial incentives under the Mobile Phone Manufacturing Scheme to succeed.
A puppy, seriously hurt in a road accident, found a second chance thanks to the compassionate Blinkit delivery partners. After being nursed back to health, the puppy now enjoys life in their local warehouse, frequently joining in on delivery runs. This heartwarming tale was shared by a professional on LinkedIn, capturing the attention of many social media users who praised the generosity of the delivery team.
Canada ministers step up outreach to boost ties
Canada is actively working to enhance its relationship with India through a comprehensive economic partnership agreement. In a significant move, Canadian ministers visited India to discuss various collaboration opportunities. Prime Minister Narendra Modi highlighted the need for sustained bilateral engagement to achieve tangible outcomes. A large trade delegation from Canada is also in India to bolster economic ties. These developments reflect Canada's strategic shift to diversify its trade partnerships.
The Department of Telecommunications mandates telecom operators to show KYC-registered names with incoming calls from November 1. This initiative aims to reduce cyber fraud, phishing, and unwanted commercial calls. The amendment to Caller Line Identification will officially include Caller Name Identification for subscriber convenience. Trials and consultations informed the decision, involving both operators and civil society groups.
PSG brings embattled Man City down to earth after pre-match show of defiance in the Champions League
Manchester City showcased a celebratory pre-match fireworks display before facing Paris Saint-Germain in the Champions League. The first half saw PSG dominate, taking a commanding lead with three goals. City managed a spirited second-half comeback, scoring two goals but ultimately fell 4-2. Former City manager Pep Guardiola witnessed the match from the stands as the team faced serious challenges.
Has your Instagram account been hacked, with your password, email address or phone number changed? There are ways to regain access to your profile using Instagrams official recovery tools, identity verification and security options. Heres how to recover a hacked Instagram account, what to do if you can no longer log in, and the steps to protect your profile from future attacks and recovery scams.
Robust pipeline: Hotel chains look beyond metros for growth
India's hospitality sector is set to add 161,074 branded hotel rooms over the next five years. Approximately 117,000 of these rooms are currently in active development across various locations. Notably, four in five new rooms will be situated outside major hospitality markets, including tier-2 and tier-3 sites. In FY26, the industry reported steady occupancy rates and increases in average daily rates.
Luxury car buyers lose most GST 2.0 benefits as Mercedes, BMW and Audi raise prices
Luxury carmakers such as Mercedes-Benz, BMW, and Audi have increased vehicle prices after a GST cut. The price hikes are a response to rising input costs and a weakened rupee against major currencies. Despite this, luxury car sales in India are projected to grow by about 11% by 2026. This growth trails the broader Indian passenger vehicle market, which is estimated to advance 13-14% this year.
OBT Sports & Entertainment partners with World Chess Champion D Gukesh
OBT Sports & Entertainment has formed a partnership with World Chess Champion D Gukesh to manage his brand. This exclusive deal will focus on brand endorsements, commercial strategy, and content collaborations. Gukesh aims to explore meaningful opportunities beyond chess while maintaining his individual values. The partnership seeks to elevate his profile as a recognized young sporting personality in global markets.
Rising cyberattacks and online fraud underscore the risks of identity theft and financial loss. Personal cyber insurance may cover eligible incidents, including phishing and unauthorised transactions. Here's all you need to know.
Street Fighter, the live-action adaptation of the iconic video game franchise, is set to hit theatres on October 16, 2026, bringing fan-favourite fighters Ryu and Ken Masters back to the big screen. Starring Andrew Koji, Noah Centineo, Callina Liang and David Dastmalchian, the film follows the fighters as they reunite for the World Warrior Tournament, where a larger conspiracy threatens to turn the competition into a dangerous battle.
The Centre has approved a 30-day ad-hoc bonus for eligible Central government employees for 2025-26. The payout can reach 6,908 under the 7,000 monthly calculation ceiling, with pro-rata payments for shorter service and separate eligibility rules for casual labourers.
Govt revises windfall gains tax for petrol and diesel exports
The central government has increased the windfall tax on petrol exports to Rs 2.5 per litre. Simultaneously, the windfall tax on diesel has been reduced to Rs 8.5 per litre. These adjustments will be effective from October 16, as announced by the central board of indirect taxes and customs.
India's manufacturing sector is expanding, which is leading to investment opportunities in various industries and defence. Trifecta Capital's co-founder highlighted the rise of trusted economies, with India being a key player. Companies are restructuring supply chains and leveraging technology to facilitate growth opportunities. Robotics developments in India are also helping to overcome data scarcity challenges in research. Overall, this trend signifies India's growing role in the global manufacturing ecosystem.
Government cuts duty drawback rates on gold, silver jewellery exports
The government has announced a reduction in duty drawback rates for gold and silver jewellery exports. The rates for gold jewellery have decreased by 3.1% while silver jewellery rates have been cut by about 9%. Earlier in July, the government had nearly doubled these rates to enhance exporter competitiveness. The latest adjustments reflect ongoing fluctuations in global input costs and market conditions.
Unemployment rate in country stands at 5% in September, stable compared to August: NSO
The rural unemployment rate remains broadly stable at 4.2% against 4.1% in August, while urban rate marginally rises from 6.8% in August to 6.9% in this month
When a devastating fire tore through Paris 860-year-old Notre-Dame Cathedral in April 2019, Salma Hayeks billionaire husband Franois-Henri Pinault pledged $113 million to help rebuild the historic landmark. The blaze destroyed its iconic spire and left the world wondering what would become of the monument. More than five years later, Notre-Dame reopened to visitors in a remarkable comeback.
Gold price forecast: Why investors expect record highs within 2 years
For now, investors see continued central bank buying and demand for safe-haven assets as key supports for bullion. However, predictions of fresh record highs remain forecasts rather than guarantees.
India needs AI-enabled creative stack, forward-looking IP framework: Gaurav Banerjee
Gaurav Banerjee emphasized the need for India to create an AI-enabled creative stack during the CII Big Picture Summit. He suggested that collaboration among educators and technology companies is essential for developing future entertainment talent. Additionally, he highlighted the importance of evolving measurement and monetization systems as audiences shift between platforms. Banerjee also expressed the need for a more strategic approach to discovering and nurturing creative talent.
Nandan Nilekani calls for expanding Account Aggregators to reach street vendors for access credit
Nandan Nilekani emphasizes the importance of expanding the Account Aggregator framework to include self-employed individuals. He highlights the need for access to formal credit for gig workers and street vendors. By incorporating diverse financial information sources, the framework could better assess creditworthiness. Nilekani also stresses a sustainable business model for Account Aggregators to ensure sustainability. This expansion aims to create a more inclusive digital financial infrastructure in India.
Could sell 3,000 more EVs a month if supply constraints ease: Mahindra
Mahindra & Mahindra reported strong demand for its electric vehicles, which may reach 10,000 to 11,000 units monthly. Current production capacity for electric SUVs is around 8,000 units, which is expected to increase to 12,000 this financial year. The rise in petrol and diesel prices, along with improved charging infrastructure, is encouraging more customers to opt for electric vehicles.
Sundaram Finance has raised fixed deposit rates from October 16, 2026. Check revised rates across different tenures.
Sonakshi Sinhas childhood home Ramayana is not just palatial; it also has history. The now 10-storey house was once a simple bungalow bought by her father, actor-politician Shatrughan Sinha in the early 70s. Today, it is a palatial building with 10 storeys, and each family member has one floor dedicated to them.
University of Liverpool opens South India campus in Bengaluru
The University of Liverpool inaugurated its first South India campus in Bengaluru on Thursday. This campus will allow local students to pursue international degrees without leaving Karnataka. Industries Minister MB Patil highlighted the importance of collaboration with local colleges and industries. Areas of joint research include artificial intelligence and clean energy, among others. More foreign universities are expected to establish campuses in the state, enhancing education and research opportunities.
Gadchiroli stands out for exemplary work in water conservation under PMDDKY scheme
The once Naxal-hit area has transformed drought-affected areas into greener landscapes and achieved new milestones in agricultural production
New York City has announced plans to abolish the horse-drawn carriage industry by June 1, 2028. Ongoing criticisms from animal rights activists regarding the welfare of these horses have escalated following the death of a tourist. Although current regulations are in place to protect the horses' well-being, this decision highlights an increasing acknowledgement of animal rights and safety concerns in urban environments.
South Indian Bank to enter credit card market with proprietary tech platform by FY28 Q1
South Indian Bank is developing a proprietary tech platform to launch its credit card business next fiscal year. The bank aims to increase the share of retail, agriculture, and MSME loans to 65% from 61% in three years. A significant focus will be placed on growing income from RAM loans rather than lower-yielding corporate loans.
Punam Raut retires from all formats of international cricket
Indian women's batter Punam Raut announced her retirement from all formats of international cricket on Thursday.
Stellantis to invest 4,000 crore in India; launch 12 Jeep, Citron vehicles by 2030
Dutch carmaker Stellantis plans to invest 4,000 crore in India over the next three years. This investment aims to introduce seven new and five upgraded models under the Jeep and Citron brands. Stellantis seeks to triple its market share by 2030 while enhancing its manufacturing capabilities and localisation. Additionally, the company intends to expand its retail presence and strengthen brand awareness through various marketing initiatives.
West Bengal to get four new airports in next two years: K Rammohan Naidu
The airports will come up at Charra, Kalaikunda, Balurghat and Hasimara as the Centre expands air connectivity under UDAN
Auto industry faces cost squeeze as steel, freight prices surge, more hikes likely
The Indian automobile industry is currently grappling with rising input and freight costs due to geopolitical uncertainties. Prices of key commodities like HR steel and aluminum have surged significantly over the past year. Major car manufacturers have already implemented multiple price hikes and are considering more after the festive season. Despite these challenges, overall auto sales have recorded strong growth in the first half of this fiscal year.
NHAI introduces independent design checks for major bridges from December 1
Policy to take effect from December 1; IITs, technical institutions and experienced firms to undertake verification
Salary hikes may not increase savings if lifestyle expenses rise alongside income. Here are five money habits young professionals should watch, from lifestyle inflation to emergency fund planning.
First tranche of US trade deal ready: Commerce Minister
It will be operationalised once India secures competitive advantage: Goyal
A postal clerk and a librarian in New York built a collection of more than 4,000 artworks despite living their life on a modest income. They bought works by artists who were yet to gain wider recognition, filled their tiny apartment with paintings and sculptures, and eventually donated their collection worth millions to the National Gallery of Art. Their story reveals why they chose to share their prized possessions with the public rather than sell them for a fortune.
Sensex gains 211 points, IT buying supports markets despite global sell-off
Sensex gained 211 points and Nifty crossed 22,700 in the early trade. IT buying supported benchmarks, but weaker broader markets signalled selective demand.
Houthis launch fresh attacks in Saudi Arabia
RIYADH, - The Saudi-led military coalition in Yemen said on Thursday that the country's Houthis had attempted to attack dozens of Saudi airports, ports and oil facilities, as fighting between the Iran-aligned group and Saudi Arabia intensified.The Houthis have been firing ballistic missiles and drones at key Saudi sites for a week, in response to the kingdom's backing of government forces in Yemen's renewed civil war. The coalition's latest statement highlighted the risk to Saudi civilian infrastructure as the conflict escalated.Coalition spokesperson Turki al-Maliki said at a press conference that the Houthis had launched 20 attacks on King Khalid International Airport in Riyadh this month, killing 17 people and wounding 333 others. The airport, one of Saudi Arabia's main international aviation hubs, was among the civilian infrastructure targeted in what the coalition described as a series of attacks.The coalition also said Houthi attacks on Abha airport, in southwestern Saudi Arabia near the Yemeni border, had killed three people and wounded 28.Maliki said the Houthis had acquired advanced military technology with the help of egional actors, including ballistic missiles, drones and explosive-laden fast boats.The spokesperson also said the coalition had destroyed 127 weapons storage facilities and launch platforms in Yemen's mountainous areas.He called on the Houthis to immediately halt operations targeting civilians and civilian infrastructure, and said the group should read the coalition's statement carefully and etween the lines.Shortly after the coalition's statement, the Houthi military spokesperson said Saudi airspace and airports were unsafe, renewing a warning to airlines while excluding airspace over the holy cities of Mecca and Medina.Yemen has been mired in conflict since the Houthis seized the capital Sanaa in 2014, prompting a Saudi-led military intervention the following year. The UN-brokered truce in 2022 largely halted major fighting, and a de facto truce held even after it expired six months later. But efforts to turn it into a lasting political settlement have stalled as regional tensions have intensified.
SC upholds order quashing Yes Bank's Rs 8,415 cr AT-1 bonds' write-off
The Supreme Court has upheld the Bombay High Court's decision to quash the Yes Bank administrator's write-off of Rs 8,415 crore worth of Additional Tier 1 (AT-1) bonds, criticising the RBI and Yes Bank's conduct.
RBI clarifies interbank trades, ECBs coupons not part of FERR
Reserve Bank of India recently clarified the applicability of foreign exchange risk reserve for banks. The requirement does not apply to banks engaging in market-making or proprietary trading. It will also not affect interest on External Commercial Borrowings or dividends payable to non-resident investors. The FERR must be maintained until one day after the derivative contract's termination.
India's current account deficit narrows to $5.2 billion in August: RBI data
India's current account deficit narrowed to $5.2 billion in August from $6.1 billion a year ago, while strong banking capital inflows helped the BoP post a $45.4 billion surplus
Govt may raise fuel prices in November, top economist says
The government is considering a fuel price hike in November as a strategic move before state elections. Inflation is projected to rise significantly due to the proposed price increases, potentially reaching 6.2% later this year. The Reserve Bank of India has forecasted lower inflation, but external pressures may challenge currency stability. Economists suggest a rate hike may be necessary in response to price increases.
Heritage Foods Q2 PAT down by 39% at 31 crore
The average landed cost of milk procurement rose 11% year on year to 47.73 a litre, driven by sustained demand, limited improvement in arrivals, and higher feed and fodder costs
Indigenous JK 250e UAV Certified By DGCA For Training
Drogo Aerospace's JK 250e fixed-wing VTOL UAV has received type certification from the DGCA on Thursday. This UAV, designed for the Indian armed forces' ISR needs, combines fixed-wing efficiency with VTOL capability and has an endurance of two to three hours. The certification is crucial for indigenous UAV technology development and operator training.
Real estate exposure without buying a flat
Currently, home rentals yield little but commercial property pays decent yields and Real Estate Investment Trusts (REITs) are the vehicles to tap them and enjoy the returns
