The Economic Times

Mumbai and nearby districts are currently under a yellow alert for potential heat-wave conditions. The India Meteorological Department forecasts dry weather following the retreat of the southwest monsoon. Economic analysts are monitoring agricultural impacts due to rising temperatures and potential food inflation risks. Weather patterns in the region will influence future policy decisions regarding economic conditions. Normal weather conditions are anticipated to return by October 12, 2026.

SpaceX has reached an agreement to acquire a nationwide low-band spectrum license portfolio for Starlink Mobile. This acquisition will enhance Starlink Mobile's capabilities as a telecom operator in the United States. The existing global 2 GHz mid-band spectrum will ensure high-bandwidth capacity for users. Additionally, the new low-band spectrum will help their signal penetrate through obstacles effectively.

New York City Mayor Zohran Kwame Mamdon called for an immediate end to ICE operations following a shooting incident. An ICE agent shot a man in the Bronx while he was in a car with a five-year-old child. Hundreds of protesters gathered outside the hospital, demanding that ICE leave their neighborhoods and streets. The man is recovering, and the incident is under investigation by multiple agencies.

Delhi Police has warned against the upcoming Cockroach Janata Party protest scheduled for October 10. Deputy Commissioner Shrishti Pandey stated that Section 163 is in effect, making any gathering illegal. She urged individuals not to participate in such unauthorized protests for their own safety and the safety of their families. Ongoing investigations into previous violence during the CJP protest are also being conducted by the Delhi Police Crime Branch.

Karnataka Chief Minister DK Shivakumar addressed media after the GST Council meeting concerning pending central grants. He mentioned that Union Finance Minister Nirmala Sitharaman provided some encouraging updates on this matter. Shivakumar opposed the proposal for criminal cases against those not paying GST, advocating for a more constructive approach. The meeting also confirmed that significant procedural reforms were approved and the existing GST rates will remain unchanged.

In a dramatic display of discord, two Congress leaders were seen exchanging slaps during a protest in Faridabad, emphasizing internal strife within the party. This incident occurred amid demands for Chief Election Commissioner Gyanesh Kumar's resignation, linked to allegations of electoral misconduct. Meanwhile, Opposition leaders convened in Delhi to plan their next moves as FIRs against several members were filed following previous protests, raising alarms about pertinent voter deletion issues

The television adaptation of Crazy Rich Asians is in development for Max, with plans to begin production in 2027. Adele Lim, who co-wrote the film, will serve as writer and showrunner for the series. While details about the cast are not confirmed, Jon M. Chu and Kevin Kwan will return as executive producers. Read on to know more about it in details.

Below is a new thriller series released on Netflix on October 8, 2026, featuring Josh Hartnett. The plot follows Calvin Penney, a fisherman with an unknown sea creature. Calvin teams up with marine researcher Fonda Howander. The series explores community bonds, struggles, and hidden secrets amid the chaos.

Ankur Warikoo recently shared an email from a woman with a Rs 25 lakh investment corpus who wanted to reach Rs 1 crore within three to four years. While acknowledging her progress, he called the goal an example of chasing quick wealth. Warikoo explained that compounding requires time and warned that impatience can push investors towards risky shortcuts and scams promising instant returns.

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Nana Patekar, veteran actor, has sadly passed away at 75 at his Goa residence reportedly due to heart attack. His last rites took place at his farmhouse in Donje village, Pune. Family and friends chanted Nana Amar Rahe during the farewell, while personalities from the film and political industry came together to honor his contributions to Hindi and Marathi cinema.

India's insurance regulator intends to implement reforms for insurance distribution starting in January 2024. The proposed changes include capping commissions paid by insurers to brokers, aiming to lower consumer fees. Insurers have until October 25 to provide feedback on the proposals before regulations are finalized. These reforms seek to widen insurance penetration especially in rural areas and new markets.

This weeks OTT releases bring a mix of crime, suspense and family drama. Pradhama Drishtiya Kuttakkar and Eyes explore police investigations and the minds of people involved in crime. Reporting Live follows a journalist who risks her life while investigating an illegal sand mining racket. Meanwhile, Animals revolves around on a couple whose lives change after their son is kidnapped and family secrets begin to emerge. Read on to know when and where to watch these releases on OTT.

India's food industry is currently experiencing a significant shortage of experienced food-safety professionals. Employers have reported a 94.4% increase in job postings for these roles this quarter. Many applicants lack the required operational experience, which has created a major gap in the market. The demand for food-safety professionals is expected to rise further during the festive season. This situation is causing longer hiring timelines and higher salaries in the industry.

The GST Council recently approved substantial reforms to simplify the indirect tax structure and improve compliance. These changes include raising prosecution thresholds and decriminalising several offences, signifying a major shift in GST law. Finance Minister Nirmala Sitharaman outlined plans for these reforms to take effect from April 1 next year. Experts believe these measures will enhance business operations and support economic growth.

Deep disagreements over inheritance have emerged between Venu and Mallika Srinivasan's children, leading to potential legal action. While Venu and son Sudarshan believe a family asset division occurred, Mallika and daughter Lakshmi disagree. The conflict centers around a memorandum of understanding related to asset management versus ownership. Significant differences in the market value of their respective companies have intensified the dispute.

PwCs Pratik Jain said the GST Councils latest measures mark the third phase of the tax reform, shifting focus to bolder policy changes and ease of doing business. He said wider refunds for input services and capital goods, along with ITC on employee insurance, could ease working-capital stress and lower costs.

Deloitte Indias MS Mani said the latest GST reforms reflect growing trust between government and industry, with technology enabling simpler compliance and more targeted enforcement. He said easier registration, annual returns with quarterly payments, return corrections and removal of arrest provisions could reduce compliance fears and bring more businesses onto the GST platform.

EY partner Bipin Sapra said the GST Councils latest reforms address input tax credit blockages, expand refunds, support exporters and streamline tax administration. He said rationalising Section 17(5) could reduce tax cascading and costs for businesses, while decriminalisation and removal of arrest powers should create a more conducive business environment.

Milind Soman is a perfect example of being in great shape at the age of 60. His strong, well-built body at this age will set a great example for anyone looking to achieve fitness goals. The actor recently did something amazing - he finished two full Ironman triathlons in just six days. Each tough event includes swimming 3.8 kilometers, cycling 180 kilometers, and running a full marathon that is 42.2 kilometers long.

From its rollout in 2017 to GST 2.0, Indias goods and services tax has evolved into a more digitised and predictable tax regime. Over nine years, the system has seen changes in tax rates, slabs, compliance and technology, reshaping how businesses manage indirect taxes and interact with the tax administration.

Apple is set to unveil several smart home products at its upcoming event on October 13, including a smart home hub. This new hub is expected to have a 6-inch display and will combine various functionalities. Updates to the HomePod mini and Apple TV 4K are also anticipated, featuring improved technology and capabilities. The event will take place in New York and may include a hands-on experience for media members.

More than 16 lakh small businesses with turnover up to Rs 5 crore could benefit from a simplified GST compliance regime, under which they would pay tax quarterly but file one return annually. The overhaul also rationalises penalties, waives late fees and simplifies registration for eligible small e-commerce sellers.

The GST Council has clarified that highway concessionaires collecting exempt tolls will face no GST liability on the toll collection right, regardless of whether concession payments are made upfront or over time. It also said GST on road maintenance services will arise when funds are actually drawn against expenditure, not merely parked in escrow.

Nearly 38,700 export taxpayers will become eligible for cash refunds on input taxes paid on services and plant and machinery under GST reforms. The Council also approved automatic release of 90% of refund claims after risk checks, faster acknowledgements and wider export benefits for service providers and manufacturers.

Thermax has set its sights on attracting external investors to its renewable energy subsidiary, First Energy. By contemplating a major stake sale, the company aims to overcome operational challenges and elevate its performance levels. First Energy, with its 800 MW capacity, is looking to enhance service delivery, reflecting a growing inclination in the renewable energy domain for partnerships that facilitate expansion and development.

GST reforms treating contract manufacturing for foreign principals as exports could boost Indias appeal as companies relocate parts of their supply chains. Expanded refunds covering input services and capital goods, faster 90% refunds and measures to release blocked tax credits are also expected to unlock working capital and support investment.

The Food Safety and Standards Authority of India (FSSAI) said the product was advertised as providing high-protein support for preserving lean muscle during GLP-1/GIP therapies, commonly used in weight-loss treatment.

The GST Council has recommended allowing employers to claim input tax credit on GST paid for health and life insurance policies taken for employees. The move could reduce the effective cost of employer-sponsored coverage, particularly benefiting small businesses, while making group health insurance more affordable and improving employee benefits.

Banks are expected to report a nearly 60% decline in treasury income for the July-September quarter. Analysts predict treasury gains to decrease from 13,100 crore last year to 5,500 crore this year. Rising government bond yields have negatively impacted investment portfolios, leading to lower gains. Public sector banks will feel a more pronounced effect due to their larger government securities portfolios.

Elon Musk is pushing for Starlink's approval in India while alleging that oligarchs are blocking its entry. He emphasizes that Starlink has complied with all regulations for five years without receiving a license. The government has stated that all involved parties are at the same regulatory stage awaiting security approvals. The ministry insists that compliance with security conditions is mandatory before moving forward.

Major technology companies like Google, Amazon, Meta, and Apple are increasingly purchasing renewable energy in India. Their expanding data centers are significantly driving the demand for clean electricity. Research predicts that renewable capacity for data centers could grow to 32.4 GW by 2030. These companies are pursuing long-term power purchase agreements to secure renewable energy directly from developers.

Dr Lal PathLabs, in a regulatory filing, said that it received an intimation on Wednesday regarding an appeal filed by the I-T Department before the Income Tax Appellate Tribunal (ITAT), New Delhi.

GST reforms 2026 will move around 2 lakh businesses operating across multiple CGST jurisdictions towards a centralised, faceless tax administration, Finance Minister Nirmala Sitharaman said. The framework will cover scrutiny, audits, adjudication, appeals and taxpayer services, with public consultation planned before Budget 2027 and implementation targeted for FY28.

The Supreme Court has made a significant ruling in favor of the Goa government's approach to managing iron ore dumps. This decision allows former mining leaseholders to clear their inventory mine dumps without conducting a public auction. The court stressed the critical need for environmental protection in this context, cautioning against dire outcomes.

The Reserve Bank of India is engaged in dollar sell-buy swaps to stabilize the rupee's value. However, this has resulted in higher forward premiums, making it expensive for foreign investors to hedge. As a consequence, some foreign investments in rupee-denominated assets may decline. Additionally, companies are opting to borrow in rupees and exchange for dollars due to favorable local rates.

The US health regulator completed a Pre-Approval Inspection (PAI) at the company's FTO-11 manufacturing unit from October 5-7, Dr Reddy's Laboratories said in a regulatory filing on Thursday.

Airlines like Air India and Akasa Air have announced increased fuel surcharges for both domestic and international flights. The rise in aviation turbine fuel prices has significantly impacted operational costs for carriers. Domestic surcharges will be effective on new bookings from October 9, as the festive season approaches. International surcharges vary depending on destination, reflecting additional costs incurred by airlines.

Airlines such as Air India Express and IndiGo are cancelling flights to and from Riyadh due to security issues. Several airlines have cited evolving conditions affecting civilian air travel in the region. Passengers affected by these cancellations are being offered options for refunds or rescheduling. India's Ministry of External Affairs condemned attacks on airports, affirming the unacceptable targeting of civilian infrastructure.

Long before Amitabh Bachchan became a superstar, he formed a lasting friendship with fellow actor, Libra, and Bollywood heartthrob Vinod Khanna. After Khanna passed away in 2017, the superstar took to his blog to recall his bond with the Amar Akbar Anthony actor and spoke at length about his generosity.

Russia's exports of yellow peas and sunflower oil to India have been disrupted by ongoing conflicts. As a result, prices for yellow peas have risen from 40 to 46 per kg in the last two months. Importers report that shipments from Russia have not occurred recently, affecting the availability of yellow peas. Meanwhile, sunflower oil shipments are also hindered, causing expectations of higher prices in the near future.