The Economic Times

While the rules apply to all businesses operating in the UAE, Indian companies account for about 20-25% of total businesses, with over 265,000 operating as of June 2025, making the changes particularly relevant for them. Indian-owned businesses in construction, hospitality, manufacturing, logistics, and retail sectors could face a greater impact because of their substantial expenditure on employee accommodation, transport, connectivity and workforce-related services, international tax advocate P

Fairfax Financial's subsidiary has acquired a 60.7% stake in IDBI Bank for 52,878 crore, leading to potential operational changes. The new management faces challenges such as employee resistance and asset quality improvement. Despite having a higher profitability compared to peers, IDBI Bank's gross non-performing asset ratio remains concerning. The bank's success will rely on its ability to enhance asset quality while maintaining earnings growth.

D Subbarao advocates for allowing the rupee to find its level based on economic fundamentals. He criticizes costly short-term measures that do not address structural issues behind capital outflows. The rupee's recent recovery followed the Reserve Bank of India's measures to reduce dollar demand. Subbarao highlights the importance of tax reforms to attract foreign investment in India.

In the second quarter, leading private sector banks in India reported a drop in net interest margins. This decline was primarily caused by the costs associated with foreign currency non-resident deposits. Analysts noted that the leveraged nature of these deposits significantly impacted profitability. Additionally, banks faced pressure from faster repricing of assets as interest rates declined.

IIFL Finance is intending to raise 2,500-5,000 crore by selling a minority stake. The company's promoters may subscribe to warrants to limit dilution. Fairfax Financial Holdings is likely to sell its stake due to regulatory norms. IIFL aims to enhance its capital position amid evolving market conditions. These measures are expected to create synergies for IIFL Capital as part of IDBI Bank.

Over the past few months, hardly a day has gone by without Kumaraswamy issuing statements, holding protests or raising fresh allegations against the state government. His attacks have intensified following Congress leader Siddaramaiah's police complaint seeking action against content linking him to an alleged honey-trap episode.

The Ramleela performance in Mohra village was suspended following the death of an elderly local woman. Villagers mourned Gafooran's passing, as she was seen as a family member in the community. Adarsh Ramleela Committee decided to halt the performance out of respect for her contributions. Her death had a profound impact, casting a shadow over the village. Villagers expressed their deep sorrow and loss in response to her passing.

Poultry farmers are currently experiencing losses of approximately 15% due to rising livestock feed costs. Key ingredients have seen price increases of up to 75%, affecting farmers' ability to cope. Dairy producers, particularly in drought-affected regions, struggle to source necessary fodder for their livestock. Feed manufacturers are also feeling the impact as higher prices reduce demand for their products.

Central Bank of India anticipates a 33% decline in bancassurance fees due to proposed regulations. Canara Bank expects a 145-crore hit to its fee income from similar changes. Axis Bank aims to mitigate losses through increased sales volumes and alternative income sources. HDFC Bank has not yet assessed the potential impact of the new rules.

The seven-member drafting committee panel, headed by retired Supreme Court Justice Ranjana Desai, has opened a website for the people, where 37 questions are being asked and citizens are asked to give in their opinions before November 15. Maharashtra Chief Minister Devendra Fadnavis has already said that the state will bring in a UCC bill during the Winter assembly session in Nagpur at the end of the year.

Anup Bagchi is set to take charge as MD and CEO of HDFC Bank starting October 27. He is currently familiarizing himself with the bank's balance sheet and profitability structure. Bagchi aims to engage with regulators, customers, and stakeholders to gather insights before implementing changes. His focus is on understanding the organization's operations rather than rushing into strategic alterations.

An Army officers wife has been booked in Jammu in an alleged espionage case for reportedly preparing research papers on sensitive national security issues using AI tools ChatGPT and Claude. Officials, as cited by PTI, alleged that she was in contact with foreign nationals, including individuals suspected of links to Chinese intelligence agencies. Her mobile phone has been seized for forensic examination, and investigators are probing whether sensitive information was shared.

Tata Sons is reviewing its Articles of Association to comply with Sebi listing regulations, which may impact the influence of Tata Trusts on board appointments. This scrutiny follows the RBI's rejection of Tata Sons' application to relinquish its core investment company registration, necessitating compliance with strict governance standards for listed entities.

After sending vehicles connected to Starshield to Europe to conduct speed checks and finding they operated normally outside Ukraine, officials in Kyiv concluded that restrictions are on the territory of Ukraine - so it is a planned operation, Volodymyr Zelenskyy said.

A tragic stampede occurred at the Chorbagan Durga Puja pandal resulting in the deaths of 19 individuals. Over 25 people were injured during this incident attributed to poor crowd management and narrow lanes. Seven people have been arrested, including organisers and security personnel, while government officials visited the injured. Financial support has been announced for the families of the deceased and injured individuals.

A high-powered committee led by a Calcutta High Court judge will probe the adverse incident at the Chorbagan Puja Committee. To improve crowd control, nine IPS officers have been assigned to manage the festivals crowds effectively. The disaster management secretary and other officials are inspecting various puja pandals to ensure safety measures. Compensation cheques of 25 lakh will be distributed to the bereaved families on specified dates.

Jantar Mantar has recently been officially designated as a site for demonstrations in India. Jantar Mantar's transformation follows a history of protest locations like the Boat Club lawns. The change brought about noticeable effects on protest dynamics across the region. While protests do not fade away, they often shift in location based on official designations. Authorities face increased scrutiny to manage and maintain these designated sites appropriately.

Eight workers tragically lost their lives after being struck by a speeding car in Punjab's Sangrur district. The incident occurred on Lehragaga-Jakhal road near Alisher village while the workers were engaged in their duties. Authorities indicated that five workers died on the spot, while others sustained varying degrees of injuries. The district administration is providing necessary medical assistance to the injured individuals following the accident.

The India Meteorological Department (IMD) has forecast continued rainfall across southern India from October 19 to October 24, 2026, with isolated heavy to very heavy rain likely in Tamil Nadu, Puducherry, Kerala, Karnataka and parts of Andhra Pradesh. Thunderstorms, lightning and gusty winds are also expected in several regions. Here is the state-wise weather forecast, including rainfall warnings, affected dates and the IMD's fishermen advisory for the southwest Arabian Sea.

US President Donald Trump has endorsed Israeli Prime Minister Benjamin Netanyahu, highlighting his leadership against Iran and calling him a reliable partner. Trump emphasized that Iran's threatening rhetoric could lead to serious consequences and commended Netanyahu's strength in dealing with various pressures. He warned of potential US involvement if the leadership in Israel changes. Trump's support is labeled as a complete and total endorsement for Netanyahu's re-election campaign.

France protests on October 17 drew attention to a viral TikTok campaign that reportedly garnered 132 million views and 18 million likes. The online mobilisation revived memories of the 2018 Yellow Vests movement, as students, workers and protesters voiced anger over rising fuel prices, living costs and deteriorating public services.

Punjab National Bank reported a record quarterly net profit of Rs 5,532 crore for September 2026. The bank's core operating profit grew by around 29 percent year-on-year despite treasury losses of Rs 1,000 crore. PNB aims to achieve Rs 6,000 crore in net profit in the upcoming quarters due to steady operational performance. Loan growth is being supported by retail, agriculture, and MSME segments during the festive season.

DIIs increased their holdings in several NSE midcap stocks during the September 2026 quarter. Swiggy, One97 Communications, Meesho, Cochin Shipyard, Lenskart Solutions, Piramal Finance, APL Apollo Tubes and SBI Cards and Payment Services saw DII shareholding rise by more than 200 basis points quarter-on-quarter, based on StockEdges shareholding scan.

Bajaj Finance is projecting a remarkable 29% increase in net profit for the July-September quarter, driven by robust loan demand and a boost in interest income. With a significant rise in assets under management, the demand for its lending products appears strong. Yet, analysts caution about potential pressure on lending margins owing to escalating borrowing costs.

Yes Bank's reported profit for the September quarter could have turned into a loss due to the AT1 bond ruling. The bank's CET-1 ratio would drop significantly if the Supreme Court's decision is fully implemented. Investors are concerned as mutual funds pause investments in the bank's AT1 bonds. Yes Bank is assessing the legal and financial implications of the Supreme Court's judgment.

Foreign portfolio investors pulled out over Rs 52,000 crore from Indian equities in October, surpassing September outflows. Despite persistent FPI selling driven by rising US Treasury yields and elevated crude oil prices, benchmark indices Nifty and Sensex rebounded sharply, supported by robust domestic institutional buying and IT sector gains.

Assam Police intends to appeal bail orders granted to Amritprava Mahanta and Sandipon Garg in the Zubeen Garg case. Special DGP CID Munna Prasad Gupta confirmed that proceedings are progressing rapidly in a fast-track court. Mahanta and Garg are accused in the death investigation of the late singer, who died in a scuba diving accident. The Gauhati High Court previously granted bail to both individuals in October 2025.

Gold Point, once a thriving mining community in Nevada, experienced significant population decline after mining operations ceased. The town, originally known as Lime Point in 1868, transitioned to focus on gold-mining in the late 1920s. Following World War II, mining activity diminished and finally ended in the 1960s with a shaft collapse. Today, the settlement has adapted to tourism, with remaining buildings and a museum preserving its mining history.

Foreign portfolio investors have withdrawn Rs 52,100 crore from Indian equities as of October this year. This follows a net withdrawal of Rs 35,861 crore in September, indicating ongoing financial retreat. Elevated crude oil prices, higher US bond yields, and a stronger dollar have affected investor sentiment. Despite temporary buying by foreign investors on October 16, selling in certain sectors continues.

Nine of the top ten most valued firms saw a substantial increase in market valuation last week. The BSE Sensex surged over two thousand points while the Nifty experienced significant growth. TCS, Bharti Airtel, and Infosys led the gains alongside other major firms like Reliance Industries and HDFC Bank. In contrast, Larsen & Toubro was the only firm to report a decline in market valuation.

Around 19 companies including LTIMindtree, Tech Mahindra, IRFC, HDB Financial Services, and Angel One have fixed their record dates for dividends, stock splits, and bonus issues during the week of October 19-23. Investors must hold shares in their demat accounts by the record date to qualify.

Indias primary market is set for a busy week, led by Reliance Jio Platforms Rs 30,213 crore IPO and Paras Healthcares Rs 1,450 crore issue. Both IPOs open on October 21. Nine companies are also scheduled to list, including six on the mainboard and three on SME platforms.

Sensex and Nifty extended gains for a second straight session on Friday, led by IT stocks, which rose for a fourth consecutive session, along with buying in auto, metal and PSU banking stocks. Niftys recovery could continue as long as it holds above the crucial 22,75022,800 support zone.

ICICI Bank reported a 20% rise in second-quarter net profit, helped by an 18% increase in core net interest income. However, core profitability edged lower as FCNR(B) deposits weighed on margins. NIM fell to 4.18%, while treasury operations swung to a loss amid higher government bond yields.

HDFC Bank reported a 4.7% rise in standalone net profit for the second quarter, while margin pressure weighed on core profitability. Net interest income rose 9.7% as loans and deposits grew. The lender is also set to welcome a new chief executive this month, ending prolonged succession uncertainty.

Paras Healthcare has fixed the IPO price band at Rs 660-693 per share for its Rs 1,450 crore issue, which opens on October 21. The offering includes a fresh issue of Rs 500 crore and an offer for sale worth Rs 950 crore. Proceeds will be used mainly to repay borrowings.

Ixigo's financial report reveals a net profit of 63.42 crore for the July-September period, indicating robust performance. The company enjoyed a 13% increase in operational revenue, totaling 320.96 crore. Their hotel segment excelled with a Gross Bookings Value surpassing 100 crores, reflecting a remarkable 159% year-on-year growth and driving significant revenue increase, largely from its loyal user base utilizing various transportation services.

Axis Bank has showcased impressive results with a 38% surge in net profit for the quarter ending in September. This significant growth stems from strong loan demand and enhanced asset quality. The bank's net interest income increased by 11.8% year-on-year, totaling 15,371 crore, while overall advances rose by 23% compared to the previous year. The stability in the bank's net interest margin emphasizes its positive financial trajectory.

In September 2026, Central Bank of India reported an impressive net profit hike of 21%, totaling 1,469 crore. This boost was largely attributed to strong loan growth, even as other income declined. The bank's net interest income surged by 26% to 4,146 crore. Additionally, total income rose by 15% to reach 11,737 crore, with the cost-to-income ratio improving to 58.95% from 62.42% a year prior.

YES Bank's net profit increased by 65% to 1,080 crore in the second quarter, driven by higher income. However, factoring in a Supreme Court judgment could lead to a post-tax loss of 5,217 crore. The court upheld a ruling concerning the bank's AT1 bonds, impacting its financial reporting. The bank's auditors noted that the financial outcomes might have been significantly different without this recognition.

IDBI Bank witnessed a substantial 39% drop in net profit for the September quarter, primarily driven by decreased non-interest earnings. This follows a previous year where profits were significantly elevated by one-time gains. Nonetheless, net interest income saw a 29% increase year-on-year, indicating solid operational stability, although operating expenses surged by 19%. The bank's privatization, through the sale to Fairfax, aims to enhance performance and profitability.

Alleged Israeli settlers viciously attacked Washington Post photojournalist Heidi Levine during an olive harvest in the West Bank. US officials, including Secretary of State Marco Rubio, expressed their disturbance regarding the incident. Israeli President Isaac Herzog condemned the violence, stating it does not represent Israeli values. After surgery, Levine reported injuries and theft of her belongings during the attack.

Cross-border movement and exchanges between Iran and Pakistan have been temporarily suspended due to technical issues. Iranian Foreign Ministry Spokesperson Esmail Baghaei confirmed that authorities are working to resolve the situation. Pakistan also halted trade through specific border checkpoints to enhance security measures. Shahid Rind clarified that this decision is aimed at preventing smuggling and improving border administration.

Ukrainian President Volodymyr Zelenskyy announced potential trilateral talks involving Russia during the upcoming G20 Summit. He expressed willingness to participate in negotiations in any format and location. Zelenskyy called for increased pressure on Moscow rather than on Kyiv in these discussions. Additionally, he expressed disappointment about US President Donald Trump's recent decisions related to sanctions on Russia.

Tata Trusts reported a 72.5% increase in philanthropic spending to Rs 1,556.31 crore in 2025-26. Major allocations included Rs 457.62 crore for rural upliftment and Rs 270.26 crore for education. Cancer care projects received Rs 178.46 crore, while direct assistance to individuals totaled Rs 202.99 crore. Noel Tata emphasized the importance of sustainable outcomes over sheer spending figures.

Hollywood now represents tech leaders like Elizabeth Holmes and Elon Musk as villains amidst public disillusionment. Recent films explore the consequences of their actions and seek accountability for social damage. Documentaries and fictional works dissect their influence and ethical lapses, highlighting concerns over concentrated power. Filmmakers confront the flaws of these figures while critiquing their societal impact.