The Economic Times

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.

US War Secretary Pete Hegseth emphasized that the United States must act to prevent Iran's nuclear ambitions. Protests erupted during his speech at the Association of the US Army meeting, with demonstrators expressing their dissatisfaction. Hegseth responded to hecklers in the audience, which were eventually removed by security personnel. In related events, US Central Command reported the destruction of an Iranian vessel in the Gulf of Oman.

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.

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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.

India's commerce and industry minister Piyush Goyal highlighted ongoing efforts to improve relations with China while maintaining strong ties with the US. He emphasized that partnerships with trusted countries are essential for India's supply chain strategy. Goyal stated that India's economic and geopolitical concerns will shape its international engagement moving forward. The minister also addressed the need for self-sufficiency in critical sectors amid global disruptions.

India's government is preparing a data centre policy to enhance the hyperscale data centre sector. The proposed policy aims to streamline approvals and provide infrastructure status to the industry. A tax holiday until 2047 for eligible foreign cloud providers has also been announced. The use of artificial intelligence can improve power generation efficiency and flexibility for data centres.

India has implemented a Principal Purpose Test in the India-Mauritius Double Taxation Avoidance Agreement. This test allows tax authorities to deny benefits when tax relief is a principal purpose. The amendment, effective from August 2026, impacts various foreign investors using Mauritius for investments. The change affects significant cumulative foreign direct investment inflows into India from Mauritius. Experts believe this will alter how investment structures are evaluated under the treaty.

In Maharashtra, insurers' liability could be capped at Rs 1,540 crore before the state government takes over claims beyond that level. The state has declared drought-like conditions in 265 talukas, raising concerns over this year's losses.

Kylian Mbappe recently achieved a milestone by becoming the youngest player to reach 100 Champions League appearances. He accomplished this remarkable feat at age 27 while playing for Real Madrid against Roma. Prior to Mbappe, Lionel Messi held this record at age 28 set in 2015. Mbappe made his Champions League debut at just 17 years old with Monaco.

The World Bank Group has mobilised a cumulative $36 billion in India across various development sectors. This funding includes $9.6 billion specifically for aiding micro, small and medium enterprises. Since 2022, the World Bank has invested over $3.5 billion alongside private partners to enhance MSME bankability. The group's global private capital mobilisation has more than tripled, reaching $112 billion in fiscal 2026.

New Zealand's white-ball captain Mitchell Santner is optimistic about home conditions helping in the series against India. The series begins with five T20Is on October 22 and will feature various venues. Santner acknowledges India's strong batting lineup and emphasizes the need for strategic bowling plans. Both teams aim to gain momentum ahead of the ODI World Cup next year.

India's wholesale inflation reached 11.4% in September, significantly increasing from 9.9% in August. Rising prices of fuel, food, and manufactured goods contributed to this surge. Food inflation climbed to 8.7%, marking a 23-month high. Retail inflation also saw an increase, rising to 5.54% year-on-year in September. Economists expect inflation to remain elevated in the coming months due to ongoing global commodity pressures.

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.

DP World is increasing its focus on the Indian port sector to explore new opportunities. The company plans to expand its capacity at Tuna Tekra and aims to renew concessions in Mumbai and Mundra. Significant disruptions in West Asia have heightened global supply chain costs and influenced capacity planning within logistics. As companies shift away from just-in-time supply chains, larger inventories are now prioritized for resilience.

CBDT has launched the SAKSHAM NUDGE campaign aimed at tax professionals to encourage timely filing of tax audit reports. The campaign targets those who filed fewer than 50% of their reports in the previous financial year. Messages were sent via SMS and email, urging quick compliance ahead of the new deadline. The deadline for submitting tax audit reports is extended to October 21, accommodating pending submissions. With over 19.

Abhishek Sharma, a promising talent in Indian cricket, lives in a stunning bungalow situated in Amritsar, Punjab. The property is valued between 6 crore and 8 crore and boasts a grand entrance. Inside, the warm wooden decor in the spacious living room ensures it is bathed in natural light, while a dedicated puja room highlights his cultural values.

Niti Aayog has released a report urging states to consider data centres as strategic infrastructure. The report suggests a structured approach to developing data centres sustainably. It highlights the need for common standards and guidance from the central government to support growth. Additionally, the report emphasizes the importance of assessing local resources and economic benefits. This framework aims to strengthen India's data-centre sector and its artificial intelligence economy.

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.

S Jaishankar met with Maka Botchorishvili in Abu Dhabi to bolster bilateral relations. The talks revolved around enhancing business partnerships, improving connectivity, and promoting cultural exchanges, while also addressing current regional challenges.

Defence Minister Rajnath Singh emphasized the importance of military cooperation with ASEAN partners during a recent forum. He proposed exploring collaboration in various defense sectors such as patrol vessels and drones. Singh highlighted co-development and co-production as methods to enhance local capabilities and industry support.

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.

The Union Cabinet approved the renaming of several welfare schemes associated with social assistance. The National Social Assistance Programme has been extended until 2030-31 with a financial outlay of 53,428 crore. Key programs like the Elderly Pension and Widow Pension have received new names reflecting the change. Eligibility criteria for the Divyangjan Pension Scheme have been revised and rates adjusted.

Rahul Gandhi criticized the arrests of Cockroach Janta Party leaders for protesting in the restricted area. He emphasized that peaceful demonstrations at Jantar Mantar should not be criminalized. Youth wings of Congress and some Left parties held protests against the police's actions during earlier protests. Gandhi assured activists that evidence of police brutality should be preserved and justice would be sought.

Delhi Police registered an FIR against an independent journalist following allegations of casteist remarks during a protest. The FIR was based on a complaint from Assistant Commissioner of Police Vivek Bhagat regarding public humiliation and defamation. Bhagat accused the journalist of obstructing his official duties and making derogatory remarks about his caste. The journalist had previously accused Bhagat of sexual assault, which is under investigation by the Crime Branch.

The Supreme Court has agreed to advance the hearing on challenges related to Delhi's electoral rolls. This decision follows concerns about voters being required to fill Form 6 for re-inclusion. Petitioners argue that this requirement misrepresents their voting status and could lead to legal consequences. The bench is considering issuing an order to rectify these issues before the October 30 deadline.

The Allahabad High Court ordered the Uttar Pradesh government to complete the three-tier panchayat election process within three months. Outgoing gram pradhans will continue to serve as administrators until the elections are conducted. Opposition parties have raised concerns about potential delays and the impact on upcoming Assembly elections. The court's decision follows numerous petitions seeking timely elections and proper reservation processes.

The Central Bureau of Investigation arrested three individuals in an alleged bribery case. Anil Kumar, the executive director of Munitions India Ltd, was among those arrested. The case is linked to a 500 crore ammunition contract with SMPP Ltd. In total, the CBI seized about 2.23 crore in cash during searches across multiple cities.

Central Bureau of Investigation filed a supplementary chargesheet in the NEET-UG 2026 paper leak case. This chargesheet names one new accused, bringing the total to 14 individuals charged. The investigation continues without naming any NTA officials as accused in the case. CBI emphasized the presence of a larger conspiracy and organized paper leak gang. A re-test was initiated after the examination was previously canceled due to the alleged leaks.

A complaints portal is being developed to address grievances from protesters and police regarding the July protests. The Supreme Court has instructed the Ministry of Home Affairs to provide necessary infrastructure for the initiative. Complaints will be submitted anonymously to protect the identities of witnesses and complainants. Two templates will be available for protesters and police personnel wishing to file complaints.

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.

US Secretary of State Marco Rubio is scheduled to visit Mumbai and Jamnagar from October 17 to 22. He will engage with Indian officials on energy cooperation and investment opportunities. The visit follows a significant phone call between President Donald Trump and Prime Minister Narendra Modi regarding sanctions waivers for importing Russian oil. Rubio's discussions will focus on enhancing the strategic partnership between the two countries.

NITI Aayog's working paper suggests increasing the social discount rate to 9.23% for project appraisal up to 30 years. This proposal aims to redefine economic viability for a variety of public investment projects in India. The revision has implications for ministries involved in long-term ventures such as infrastructure and energy. The paper also recommends specific rates for projects extending beyond 30 years.

CJP leaders Ashutosh Ranka and Saurav Das have been arrested for protesting with the national flag. Abhijeet Dipke, CJP founder, criticized the government for imposing an unofficial emergency. He announced plans for a tricolour protest in Delhi, questioning the legality of their arrests. Dipke expressed solidarity with the Congress party's upcoming march to Parliament as well.