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BusinessEconomic Times ·

India's oldest bar faces closure due to new highway development project

India's oldest bar, run by a 103-year-old veteran, is confronting potential closure. The establishment is located in Jabalpur, Madhya Pradesh. Its future is threatened by a highway development project requiring its demolition. The bar has operated for over 80 years, making it a local historical landmark. Authorities have issued notices for its removal to proceed with the infrastructure work.

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BusinessEconomic Times ·

Congress declares October 8 'Black Day' against land ordinance

The Congress party has declared October 8 a 'Black Day' to protest against the Gujarat government's proposed Special Investment Region. The party opposes the ordinance, claiming it will lead to forceful land acquisition from farmers. This protest centers on the SIR planned in south Gujarat, which Congress argues will adversely impact local agricultural communities. The declaration was made public in a report by The Economic Times.

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BusinessEconomic Times ·

Proposed US rule could raise financial requirement for foreign work permits

A potential new US regulation would significantly increase the financial requirement for international students seeking work permits. The proposal would mandate students demonstrate access to $70,000, a substantial rise from the current $25,000 threshold. This change aims to ensure these students have sufficient resources to support themselves during their stay. The rule is currently under consideration by the US Citizenship and Immigration Services.

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BusinessEconomic Times ·

Scientists revise understanding of Greenland shark vision

Scientists have discovered a previous misunderstanding about the vision of the Greenland shark. New findings indicate these sharks rely more on their sense of smell than their eyesight for hunting. This conclusion follows a study analyzing the eye structure and sensory capabilities of the species. The sensory adaptation is likely an evolutionary response to its deep, dark ocean habitat. The research provides a clearer picture of how the world's longest-living vertebrate navigates its environment.

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BusinessEconomic Times ·

India's Russian Crude Oil Imports Surpass $43 Billion, Says Report

India's total payments for Russian crude oil have exceeded $43 billion since the conflict in Ukraine began, according to a report by the Economic Times. The data, covering the period from February 2022 to July 2024, highlights a massive redirection of energy trade flows. This surge in imports has made Russia India's top oil supplier, replacing traditional Middle Eastern sources. The shift is primarily driven by discounted prices offered for Russian crude following international sanctions.

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BusinessEconomic Times ·

Green economy could generate 13 million jobs in India by 2035

A report cited by The Economic Times projects that India's green economy could create up to 13 million jobs by 2035. These roles are expected to emerge in sectors such as renewable energy and green construction. The analysis highlights a significant shift in the employment landscape driven by sustainable initiatives. This growth aligns with India's broader climate and economic development goals.

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BusinessEconomic Times ·

RBI clarifies foreign exchange reporting rules for traders

The Reserve Bank of India (RBI) has issued a clarification on foreign exchange reporting requirements. This action was prompted by confusion among importers and exporters over certain foreign currency transactions. The central bank's directive aims to ensure accurate and consistent reporting to the trade and banking systems. The move is intended to remove operational hurdles and maintain smooth trade finance operations.

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BusinessEconomic Times ·

Indian firms face high costs from low factory utilization rates

Indian corporations are struggling with chronically low capacity utilization in their manufacturing plants, according to a report. This underutilization leads to significantly higher operational costs for these companies. The issue, highlighted by The Economic Times, is a persistent challenge for the industrial sector. It impacts profitability by increasing the fixed cost burden per unit of output.

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BusinessEconomic Times ·

Early voting data offers clues, but not certainty, for US midterm results

Political analysts are studying early voting patterns ahead of the US midterm elections to gauge potential outcomes. This data includes turnout figures and demographic breakdowns from states that allow early in-person or mail-in voting. While it can reveal enthusiasm levels among key voter groups, it is not a definitive predictor of final results. Historically, early voting trends have sometimes been misleading, as Election Day voting can shift the overall outcome. The full picture will only emerge after all votes are counted on November 8.

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BusinessEconomic Times ·

Air Canada and Delta jets collide on ground at Los Angeles airport

An Air Canada plane was struck by a Delta Air Lines aircraft on the ground at Los Angeles International Airport (LAX). The incident occurred on Thursday, August 8, according to a report by The Economic Times. No injuries were reported from the collision between the two commercial jets. The cause and extent of the damage are under investigation by the airlines and authorities.

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BusinessEconomic Times ·

Senior citizen fixed deposit rates reach new highs on 3 and 5-year terms

Multiple banks and non-banking finance companies are now offering the highest interest rates in recent times on fixed deposits specifically for senior citizens. These elevated rates are available on 3-year and 5-year deposit tenures. The trend is reported by the Economic Times, though specific financial institutions are not named. The increased rates are a competitive move to attract deposits from this demographic amid a rising interest rate environment.

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