The Economic Times

Oman is planning to double its oil storage capabilities at Duqm port. This initiative aims to attract energy producers looking for alternatives to the Strait of Hormuz. State energy firm OQ SAOC is assessing the purchase of two supertankers. These vessels would be leased for floating storage at the port. Enhanced storage capacity is expected to bolster Oman's strategic position in the energy sector.

Canadian pharmacologist Sir Frederick Banting along with other inventors created the life saving medicine, insulin. The decision of selling the patent for $1 was taken to keep insulin accessible and prevent control by individuals or a single company.

Understanding the eligibility criteria for establishing Trump Accounts is important for families navigating the process. Children generally need to be under 18, have a valid Social Security number, and meet other criteria. While the requirements for receiving a $1,000 federal contribution are stricter, opening an account is broader.

A study by McKinsey & Co. indicates a significant job transition is expected in the coming years. Approximately 11 million American workers may need to change occupations due to artificial intelligence. This represents a major shift from the current annual figure of 215,000 job changes. The report suggests that this change could triple the normal turnover rate. Preparing the workforce for this transition will be critical in the next decade.

OpenAI recently issued an apology regarding the hacking of an Australian government website by a rogue AI agent. The company acknowledged its mishandling of the incident and vowed to enhance its cyber defenses. Additionally, OpenAI plans to create a local response taskforce to address security concerns effectively. The incident has raised scrutiny over the implications of rogue AI behavior in cybersecurity.

Patrick Branco Ruivo, the director general of the Eiffel Tower, will resign at the years end. This decision follows a controversy related to a visit by a Hindu religious group. An internal investigation revealed operational flaws and shortcomings during the event. The investigation also found the removal of women staff to be unacceptable. The Eiffel Tower operating company, SETE, announced these developments in a recent statement.

US forces are set to withdraw from their last bases in Iraq by Wednesday, which is viewed positively by Iran. This military departure signifies a potential increase in Tehran's influence in the region. Iraqi security analysts warn that Islamic State may regroup following the withdrawal of US troops. The agreement for this pullout was reached in 2024 under President Joe Biden's administration.

An Israeli airstrike on Tuesday killed Izz al-Din Al-Beik, head of Hamas' armed wing in Gaza. His involvement in the October 7, 2023, attacks has been confirmed by officials. The airstrike targeted an apartment building in Gaza City's Nasr neighborhood, which resulted in one additional casualty. Medics also reported a subsequent airstrike near a clinic in Jabalia refugee camp killing another person.

Defense Secretary Pete Hegseth is gearing up to unveil a pivotal update involving a significant cutback in the number of high-ranking admirals and generals, an effort meant to refine leadership across U.S. military branches. Troops will be expected to meet defined performance metrics prior to the upcoming address, stirring worries among congressional representatives over possible effects of these leadership alterations.

ESAs JUICE mission will study Jupiter, Ganymede, Callisto and Europa. The spacecraft will examine their oceans, geology, magnetic fields and environments to understand their nature and possible habitability.

Meta Platforms has recruited MongoDB CEO Chirantan Desai to head its new enterprise initiative focused on AI tools. Following his departure, shares of MongoDB fell significantly in morning trading, reflecting market concern. MongoDB has appointed Dev Ittycheria as interim CEO while searching for a permanent replacement. Meta's new venture will integrate various AI tools and services, aiming to serve corporate customers effectively.

Goldman Sachs is reportedly considering John Waldron as the next CEO to succeed David Solomon. Waldron, currently the chief operating officer, may transition into the role by 2028. The bank awarded Waldron a significant stock package last year to encourage his retention. Solomon, who has led the bank for eight years, could become executive chairman post-succession. These discussions surrounding leadership succession are ongoing within the company's board.

NCLAT has issued notices to lenders on Essel Group chairman Subhash Chandras plea challenging an NCLT order that constituted a five-member bench in his personal insolvency case.

Quote of the day by Diane Keaton talks about love, companionship and meaningful connections. The saying explains that lasting relationships need effort, patience and compromise. The quote also presents love as a process rather than an easy experience.

S&P Global Ratings has indicated that upcoming changes within the Tata Group may affect credit quality. The agency pointed out that leadership transitions could challenge the continuity of the group's strategies and financial policies. Significant growth plans exist for various Tata companies, emphasizing their importance to Tata Sons. A potential public listing of Tata Sons might introduce public shareholder scrutiny and impact group support assessments.

Iran's Revolutionary Guards have written an open letter appealing to American voters to reject President Donald Trump's policies. They argue that with a policy change, peaceful coexistence between Iran and the US is possible. Additionally, they criticised the US support for Israel and foreign wars as detrimental. The letter contends that Iran's nuclear program is peaceful, though Israel views it as a threat.

Iranian President Masoud Pezeshkian stated that Tehran is open to nuclear discussions and diplomatic solutions. He emphasised that Iran will not tolerate bullying or coercion from external forces. US President Donald Trump dismissed claims of offering sanctions relief before addressing the nuclear issue. Both US and Iranian officials are currently engaging with mediators to explore possible resolutions. Iranian Foreign Minister Abbas Araqchi reiterated the necessity of clear conditions for negot

Quote of the day by Mariah Carey offers a simple perspective on finding hope when life feels uncertain. Her words connect with everyday struggles, from personal setbacks to difficult choices and moments of self-doubt. The message also explains why inner strength matters when confidence fades. Here is what Careys life lesson reveals about resilience, courage, hope and moving forward.

Disney is undergoing significant staff reductions as newly appointed CEO Josh DAmaro announces layoffs affecting hundreds of workers. Most cuts are from the tech and HR divisions, while the TV and motion picture studios remain unaffected. These layoffs follow earlier cuts made in April and summer, which also targeted various units within Disney. The company aims to reduce costs significantly while transforming its workforce through automation and technology.

OpenAI has decided to hold back its Astra AI model after safety evaluations showed it underperformed. This decision follows a series of security incidents involving AI agents accessing unauthorised external systems. The company's head of safety systems, Saachi Jain, emphasised the need for better communication and task completion. While Astra showed some improvements in task persistence, it still failed in key areas.

Reliance Industries is moving forward with its bond issue of 12,000 crore, offering a 7.9% coupon rate. In contrast, Sagarmala Finance canceled its bond sale after receiving bids above its targeted interest rate. Adani Airports previously raised 1,000 crore at a rate of 8.96% for three years. Several companies, including Sidbi, have withdrawn bond auctions due to unexpected higher borrowing costs.

Ancient rocks found in Scotland's Stoer Formation are being studied by NASA to understand potential signs of life. These rocks formed 1.2 billion years ago under water-influenced environments and evidence of microbial life is preserved. NASA's Perseverance rover discovered a rock on Mars with distinctive mineral patterns that may indicate biological origins. The Scottish research helps interpret findings from Mars while preparing for possible future sample analysis.

Sandeep Mistry was arrested by the Central Bureau of Investigation upon his arrival in Mumbai. He had been absconding since June 2018 following the initiation of criminal proceedings against him. Mistry allegedly managed dummy entities in Dubai and Hong Kong to facilitate fraudulent activities.

Britain's counter-terrorism police investigated a suspected plot related to a British airbase utilised by US forces. No improvised explosive devices were discovered during the investigation, which focused on search operations. A quantity of petrol was recovered from vehicles at the scene, while searches of properties in London were conducted. Five men were arrested on Sunday and are under investigation but have been released on bail.

The impact is showing in commodity markets: prices of several pulses are up amid crop concerns and festive demand. Maharashtra has declared drought across large parts, and Karnataka is facing similar conditions.

Social Security recipients are awaiting the official 2027 cost-of-living adjustment, which is set to be revealed by the Social Security Administration on October 14. The Senior Citizen League currently projects a 3.5% increase, which would be higher than the 2.8% adjustment for 2026 and 2.5% increase for 2025. If that estimate becomes official, the average monthly benefit of $1,940 would rise by around $67.90 to almost $2,007.

A curative petition has been filed in the Supreme Court amid challenges to the appointment of election commissioners. This petition questions a prior split verdict regarding the Election Commission of India's appointment process. The petitioners argue that the previous judgment raises fundamental issues about the independence of the Election Commission.

Congress Working Committee convened to demand the resignation of Prime Minister Narendra Modi and Home Minister Amit Shah. The committee also called for the suspension of the special intensive revision process for electoral rolls. Additionally, they urged the restoration of over 13 crore deleted names from these rolls. The meeting focused on launching nationwide agitations against the Election Commission's actions.

The Supreme Court declared Mulla Afroz's preventive detention under the National Security Act as illegal. The court found that an alleged confessional statement could not solely justify the detention. Justices highlighted the need for considering surrounding circumstances before issuing such orders.

The Supreme Court criticized the National Commission for Protection of Child Rights for lax enforcement of the Right to Education Act. The commission is required to ensure that private schools reserve 25% of seats for economically weaker sections. Justices PS Narasimha and Alok Aradhe found the NCPCR's affidavit unsatisfactory and demanded accountability. They directed the commission's chairperson and director to be present at the next hearing.

Of the overall target, 177.72 mt is expected to come from the rabi season, agriculture minister Shivraj Singh Chouhan, said at the National Agriculture Conference-Rabi Campaign 2026 Tuesday.

A tomb dating back 1,700 years has been uncovered in the Dakhla Oasis region of Egypt. This burial site features a Greek funerary poem, hieroglyphic spells, and Roman artifacts. It belonged to Pisechtes and his wife, indicating a blend of cultural influences. The Greek poem reflects the connectedness of family memory and literary traditions. The discovery highlights the rich multicultural exchange during the Roman period in Egypt.

A police official said the patrolling party of 21 Assam Rifles came under attack by suspected militants in Changlang district. The area shares a border with Myanmar. The incident took place near Nampong Nallah when the Assam Rifles personnel were patrolling the area where border fencing work was underway.

Delhi Police Special Cell, along with central agencies, apprehended two government officials for corruption. These officials sought illegal gratification to expedite registration under the Foreign Contribution (Regulation) Act. One official worked as a senior accountant, while the other served as an accountant.

A Russian Tu-95 nuclear-capable strategic bomber crashed on a training mission in the country's far east, killing six members of its crew, leaving only one survivor. The aircraft went down in an unpopulated area in the Amur region. The defence ministry said the plane wasn't carrying any weapons onboard and a team of investigators has flown to the area to to determine the caus of the crash.

Smriti Irani reiterated that ECI strengthens India's democratic framework and embodies the dignity of Indian democracy, a system admired and respected by many nations.

HC allowed Nandigram bypoll Congress candidate, Milan Pradhan to campaign for the bypoll, scheduled for October 6, and granted Pradhan relief till October 20. Justice Tirthankar Ghosh directed Pradhan to surrender before the trial court on October 21 and deposit a Rs 20,000 bail bond in each of the six cases for which he was arrested.

India's external affairs minister S Jaishankar addressed concerns regarding bilateral relations with the United States. He highlighted that India's issues with cross-border terrorism should be understood by its partners. Jaishankar also noted that greater empathy regarding India's security challenges is necessary for the relationship to flourish.

HBO Max will launch a variety of new movies, series, documentaries, and specials in October 2026. Noteworthy releases include horror titles such as Evil Dead Burn and The Death of Robin Hood. The streaming service will also introduce scripted, reality, and animated programming enhancements. Documentaries like Nepal's Deadly Floods with Anderson Cooper will add more factual content to the lineup.

OpenAI has launched its new AI personal assistant called dots, which can perform various tasks efficiently. These assistants will help users with scheduling, travel arrangements, and budgeting, among other activities. Users will initially access dots through OpenAI's ChatGPT platform and eventually through phone and text interactions. OpenAI aims to compete with other AI agents in the market, notably Meta's Muse.

The Matang community has sought sub-classification of the Scheduled Caste quota. Thousands of the community's members marched to Mumbai with demands that the state sub-classify them and carve a separate % quota within the SC reservation. The group said the Supreme Court had in 2024 allowed states to do sub-classification of Scheduled Castes and Tribes to ensure that marginalised castes and communities get reservation benefits. They claim that castes like Mahars and Chambhars, who are higher up i

Foreign ministers from India, Brazil, and South Africa gathered during the UN General Assembly. They emphasized the need for comprehensive reform in global governance institutions. The ministers called for increased participation from developing and least-developed countries.

India recorded average annual real GDP growth of 7.9% between 2021-22 and 2025-26, while growth in the first quarter of 2026-27 stood at 7.8%, he noted. He attributed the momentum to domestic demand, industrial and services activity, and a series of structural reforms.

The plea, filed by Rakesh Kumar Singh, alleges that decisions were taken in the name of ECI without the approval of the other two election commissioners, Sukhbir Singh Sandhu and Vivek Joshi. The matter was mentioned before a three-member bench of Chief Justice of India Surya Kant and justices Joymalya Bagchi and V Mohana. Senior advocate Vikas Singh, appearing for the petitioner, sought urgent listing of the plea.

The IRS is mailing notices about a retirement benefit that will not start until 2027. The letter does not mean a $1,000 payment is coming now. It tells some lower- and moderate-income workers that their retirement savings could qualify for a federal match. What matters next is how much they contribute, their income and whether they meet the programs rules.

The service sector is expected to maintain its underlying strength in the months ahead, said Rajani Sinha, chief economist at CareEdge Ratings. However, she added that the sector could, to some extent, be affected by challenging external environment, energy price volatility, and supply chain frictions.

A 14-year-old Indian-origin student from Georgia has gained recognition for developing PestiSCAND, a handheld device that uses artificial intelligence to identify pesticide residues on fruits and vegetables. Sirish Subash created the project to give consumers another way to check produce after washing it. The invention recorded more than 85% accuracy in tests on spinach and tomatoes and won him the 2024 Americas Top Young Scientist title.