The Economic Times

Punjab Band Today News: Punjab Bandh on October 15 will be observed from 6 am to 5 pm following the killing of anti-drug activist Parvinder Singh Jhota in Mansa. Check the latest updates on bank operations, school closures, bus and train services, markets and emergency services.

Jio Platforms is gearing up for its initial public offering by pursuing a strategy focused solely on fresh shares. This means that no current investors will be liquidating their holdings during the IPO. The goal is to utilize the funds, estimated at around 27,500 crore, to alleviate the debt burden of Reliance Jio Infocomm.

Asia's central banks are advised to potentially tighten monetary policy in response to rising inflation expectations. Inflation has been impacted by an oil shock from the ongoing Middle East war, raising near-term price expectations. The International Monetary Fund emphasizes the need for clear communication from central banks on maintaining price stability. While Asia's economic growth continues to exceed the global average, risks remain that could impact fiscal stability.

UBS is currently evaluating various options for relocating its headquarters out of Switzerland. This consideration arises if lawmakers implement stricter capital requirements for the bank. Potential strategies include acquiring a US financial institution or merging with a European rival. The possibilities also extend to selling itself to a US bank, according to sources. If these plans move forward, UBS will adapt significantly to the changing regulatory environment.

Brent crude futures declined $1.50, or 1.41%, to $104.55 a barrel, while US West Texas Intermediate (WTI) crude futures dropped $1.02, or 1.07%, to $94.07. Both benchmarks reversed gains made in the previous session.

Delhi-NCR is likely to see rain, thunderstorms and lightning on Thursday, October 15, according to the India Meteorological Department (IMD). Winds may reach 40-50 kmph, with gusts up to 60 kmph. Rain is also forecast on October 16, while drier conditions are expected to return from October 17.

SK Hynix is attempting to obtain approval from the US to export chipmaking equipment to China. This export is intended to facilitate an increase in production at its Dalian facility. Solidigm, the US arm of SK Hynix, is considering a factory in the US contingent on this approval. The US is enforcing restrictions on such exports to maintain technological superiority.

Gold prices have stabilized after recently dipping to a one-week low, now sitting at $4,114.57 per ounce. This slight recovery follows an uptick in US consumer prices, primarily driven by rising gasoline costs, pushing discussions about potential interest rate hikes. Currently, there is a 32% chance of a rate increase this month. Investors are keenly awaiting significant economic reports expected later today.

Oil prices experienced a downturn as investors weigh the repercussions of shipping assaults in the Strait of Hormuz, particularly from Houthi attacks on Saudi Aramco, heightening supply disruption fears. In response, the US is considering relaxing sanctions on oil transport vessels to stabilize consumer prices. Meanwhile, increased Russian oil production is aiding market stabilization, complemented by a notable decline in US crude oil inventories reported by the American Petroleum Institute.

Pune-Mumbai Expressway traffic update: Pune-Mumbai Expressway and old Mumbai-Pune highway are expected to see heavy traffic until October 20 as Navratri pilgrims and Dasara holiday travellers head out. Highway traffic police have urged commuters to consider trains and public transport, while heavy vehicles face restrictions on key stretches. Check road closure timings, diversion routes and traffic arrangements before travelling.

Pope Leo health: The Vatican said that the pope had celebrated Mass with his secretaries in the afternoon in a special chapel set up for him on the 10th floor of the hospital.

Police arrested 19-year-old Alexandros Paporakis for allegedly planning a mass shooting at a Hindu Temple. Investigations revealed he communicated threats and shared a detailed document about the attack. Law enforcement recovered a rifle, ammunition, and tactical equipment in his residence. The FBI noted the extremist ideologies expressed in his writings targeting individuals of South Asian heritage. The prompt action of local police contributed to preventing potential violence in the community.

US stock Market today: Much of Wall Streets pain on Wednesday was due to drops for companies riding the AI frenzy to huge profit growth and stellar stock gains.

San Francisco Federal Reserve President Mary Daly indicated that further adjustments to interest rates might be necessary to address inflation. She emphasized that the Fed does not feel urgency for immediate action in the upcoming meeting. Daly highlighted the stability of the labor market, which offers some flexibility for monetary policy decisions. Financial markets are reflecting a range of expectations regarding potential rate hikes in the near term.

The head of the International Monetary Fund highlights the urgent need to address global debt levels. Rising interest rates and inflation have created burdens on low-income countries, with many unable to finance their needs. The median developing country is paying significantly more in interest compared to developed nations, affecting government budgets. Job creation and investment initiatives are crucial for the upcoming workforce, especially as artificial intelligence advances.

Delhi Police detained several opposition leaders and Ankita Bhandari's parents during a protest at India Gate. Congress leaders criticized the police action as an attack on democratic freedoms and justice. The protestors demanded the cancellation of Dushyant Gautam's recent appointment as Sikkim Governor. Family members of Ankita Bhandari expressed their discontent over political appointments amidst ongoing investigations. The situation reflects ongoing tensions surrounding the quest for justice

A woman reported being sexually assaulted at a fraternity party near the University of Chicago campus. Police are investigating the allegations during a time of heightened awareness about campus sexual violence. The perpetrator allegedly fled after being confronted by another party attendee, and university officials are seeking more information. The fraternity involved stated that no members participated in the incident or encouraged the behavior.

Cornell University President Michael Kotlikoff confronted faculty frustration regarding his administration's handling of a serious sexual assault allegation. During a Faculty Senate meeting, faculty members expressed significant anger and questioned Kotlikoff's management of the incident. Faculty are considering a no-confidence resolution to signal their dissatisfaction with administration transparency and reforms. As the administration has faced a lawsuit related to the case, many faculty urge

Katie Zacharia, the new White House press secretary, is facing questions about her legal credentials and background. Although she claims to be a lawyer, there is no evidence she has passed any bar exam. The White House has defended her, stating she is uniquely qualified for her role. Concerns have been raised about her misrepresentation of legal status which may violate California law.

Houthi rebels reportedly targeted the headquarters of Saudi Aramco in Dhahran, inflicting damage on upper floors. Civil defense reports indicate that debris from intercepted strikes caused injuries near Riyadh. The Houthis assert these attacks are retaliation against Saudi aggression in Yemen. Efforts for a ceasefire have gained traction with regional powers seeking negotiations. Rising casualties in Yemen highlight the ongoing humanitarian crisis amid renewed hostilities.

Wisconsin plane crash: The six-seat, single-engine plane was traveling from Kenosha to Menomonie when it crashed shortly before 10 p.m. on Tuesday in a wooded area near Mirror Lake State Park, not far from the popular tourist destination of Wisconsin Dells.

Farmers are likely to decrease rabi sowing due to inadequate rainfall and reduced soil moisture levels. This situation could lead to lower yields of critical crops such as wheat, pulses, and oilseeds. Many reservoirs are under pressure, with over half storing less than last year. State and central governments are encouraging farmers to choose crops based on water availability, especially in water-scarce regions.

A quarter of Maharashtra's sugar mills will begin operations this week to alleviate sugar shortages before Diwali. Sugar prices have increased by approximately 4% recently due to dwindling supplies and farmer protests. Millers anticipate new sugar reaching markets after October 20, following crushing activities. Farmers are encouraging quicker harvesting of sugarcane due to crop conditions, leading to lower sugar content.

Netflix and Shondaland have announced a limited series about young Violet. It will follow her romance with her future husband. A familiar face from Queen Charlotte: A Bridgerton Story is also reportedly returning.

Microsoft has launched the Xbox Nano Controller, which aims to enhance accessibility across various gaming devices. The compact controller is designed for younger players and portability, measuring just over five inches. In addition, Microsoft is partnering with television manufacturers to enable cloud gaming on supported devices. This strategic shift focuses on making Xbox games accessible beyond dedicated consoles through various other platforms.

China's exports have increased significantly, rising by 36.3% in September compared to the previous year. Imports also saw an increase of 31%, resulting in a substantial trade surplus for the month. The overall trade surplus for the first nine months reached $938 billion, with expectations to exceed last year's record. However, China's export growth faces challenges due to pressures from trading partners like the European Union.

Azerbaijan's New Azerbaijan Party has criticized the ruling Justice and Development Party in Turkiye. This criticism stems from comments regarding headscarves for female students in Azerbaijani schools. The YAP emphasizes the need for Turkish political figures to respect Azerbaijan's sovereignty. They specifically mention the importance of understanding Azerbaijan's constitutional structure and legal framework. Such interference in internal affairs is viewed as regrettable by the YAP.

Yoo Ji-won, an esteemed running influencer in South Korea, tragically lost her life during a half marathon, just moments from the finish line on October 11. Despite immediate medical assistance, she was declared deceased shortly after. Known for inspiring countless followers on social media with her running journey, this heartbreaking incident has prompted renewed discussions about safety regulations for sporting events.

Ukrainian President Volodymyr Zelenskiy expressed his disappointment over Donald Trump's recent comments about Ukraine's leadership. He indicated that it is painful when Trump chooses to take a side that is not supportive of Ukraine. Zelenskiy acknowledged that while he is okay with Trump being neutral, he expects consistency in that stance. He also conveyed a sense of loss regarding Trump as a strong partner for Ukraine.

FBI Director Kash Patel attended a law enforcement appreciation event in Lynchburg, Virginia, on Wednesday. Reports emerged claiming he traveled to Russia for meetings hosted by the FSB. The FBI agency refuted these claims, stating that Patel was present at Liberty University. Video evidence showed him speaking at the event in Virginia. This clarification was necessary to address misinformation regarding his whereabouts.

India's Ministry of External Affairs has reiterated its call for stability in global energy markets. Concerns were communicated to the US regarding the Sanctioning Russia and Iran Act of 2026. The legislation allows the US to impose tariffs on nations purchasing Russian energy under specific conditions. Additionally, the US announced a significant diesel deal with Russia, which could impact global energy dynamics.

As Ukraine faces significant constraints on the use of Starlink satellite internet amid its ongoing conflict with Russia, military operations are increasingly jeopardized, especially in terms of drone communication effectiveness. With winter approaching, the pressure mounts on air defense systems to address rising Russian drone threats. Ongoing discussions among officials regarding the reasons behind these limitations highlight concerns about the future of U.S.

Donald Trump announced the beginning of exploration for oil and gas in Greenland which may alleviate energy concerns. Despite Trump's optimistic statements, resource extraction in Greenland has faced numerous challenges over the years. An agreement with Denmark and Greenland was signed to enhance Arctic security but lacks exploration rights. Legislators in Greenland have expressed environmental concerns over potential new permits for oil extraction.

U.S. bond market benchmark 10-year Treasury, saw its yield jump to 5.26 per cent from less than 5.17 per just before the inflation reports release on Wednesday.

One-Punch Man Season 3 Part 2 is officially scheduled for a thrilling release in January 2027, diving deeper into the Monster Association Saga. The newly unveiled trailer showcases epic confrontations between the Hero Association and formidable monsters endangering humanity. Beloved S-Class heroes like Tatsumaki are poised for key contributions as the saga unfolds.

US President Donald Trump has made efforts to exert control over the upcoming midterm elections. Many election officials are preparing for potential disruptions and challenges that could arise. Trump's history of contesting election outcomes and urging supporters to act complicates the electoral landscape. Federal investigations and other interventions could influence voter confidence and result certifications.