The Economic Times

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.

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!

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.

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.

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.

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 interv

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 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.

India's goods exports surged by 23% in September, totaling $44.4 billion, supported by significant gains in electronics, petroleum, and engineering goods. At the same time, imports rose by only 8%, leading to a reduced trade deficit of $30.21 billion. This export growth reflects a sustained positive trend in the second quarter of the current fiscal year. Notably, gold imports fell sharply by 81.27%, impacting overall import figures.

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 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.

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.

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 with

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.

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.

US Home Loan rate: The recent string of mortgage rate increases snapped as the 10-year Treasury yield pulled back from its highest level since 2002.

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 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 part

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.

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.

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 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.

Car sales in India saw a 22% increase in September due to dealers stocking up for festivals and strong demand. Two-wheelers and three-wheelers also experienced growth of 13.5% and 16% respectively during the same month. The overall sales for passenger vehicles increased by 28.3% in the first half of FY27. Automakers remain hopeful about continuous demand amidst ongoing geopolitical challenges.

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.

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 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 manufa

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.

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.

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 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 infrastructu

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.

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.

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 opp

An Air India flight from Frankfurt to Delhi was diverted to Jaipur after a hijack alert. The alert was later confirmed to be false after security checks. Civil Aviation Minister K Rammohan Naidu stated the need for a thorough investigation. He emphasized that changes to security norms would depend on the investigation's findings. DGCA is currently conducting the inquiry into the incident involving flight AI2030.

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 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.

Indian women's batter Punam Raut announced her retirement from all formats of international cricket on Thursday.

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.

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.

India's current account deficit narrowed to $5.2 billion in August, compared to $6.1 billion a year earlier. The capital account surplus increased substantially to $50.6 billion, influenced by non-resident deposits of $83 billion. The balance of payments showed a surplus of $45.4 billion, contrasting with a deficit of $5.6 billion in the previous year. External commercial borrowing saw a net outflow of $22.4 billion during this time.

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.

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 infras

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.

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.