Business

Indian space regulator urges domestic firms to use locally-made chipsets

The Indian space regulator IN-SPACe is actively encouraging the nation's space companies to adopt indigenous semiconductor chips. This initiative aims to reduce dependency on foreign technology and bolster national self-reliance in the space sector. The push was reported by the Economic Times, though a specific timeline for implementation was not provided. The move is part of a broader strategy to strengthen India's domestic space industry and supply chain security.

Spill Games raises $10.5 million in funding round led by Elevation Capital

Spill Games has secured $10.5 million in a new funding round. The investment was led by the venture capital firm Elevation Capital. The funds are intended to support the company's growth initiatives. The transaction was reported by the Economic Times.

RBI reportedly intervenes to support Indian rupee amid global pressures

The Reserve Bank of India (RBI) is said to have taken action in currency markets to bolster the Indian rupee. This move comes as the rupee faces significant downward pressure against the US dollar due to global financial conditions. The RBI's intervention is a standard tool used to manage excessive volatility in the exchange rate. The Economic Times reported on these developments, characterizing the action as a critical last-minute effort.

Two vessels struck by projectiles in Strait of Hormuz

Two commercial ships were hit by projectiles in the Strait of Hormuz on Friday. UK Maritime Trade Operations reported the incident, citing the vessels' masters. The strait is a critical global oil transit route near Iranian territorial waters. The cause of the attack and the parties responsible are currently under investigation.

SC to review Rahul Gandhi, opposition leaders' entry case

The Supreme Court will examine a petition regarding Rahul Gandhi and other opposition leaders' entry into the court premises last July. The case originated from a confrontation with police during a protest concerning a different case. The Delhi High Court had previously dismissed the leaders' petition challenging the police action. The matter is now set for a Supreme Court hearing on October 11.

IMF Warns of Potential Economic Risks from AI Investment Boom

The International Monetary Fund has issued a warning regarding the current surge in artificial intelligence investments. The IMF cautions that this AI boom could potentially lead to financial instability if it busts. The organization outlined how rapid growth in speculative tech investments can create economic vulnerabilities. The warning serves as a preemptive note to policymakers and investors to manage risks.

Explosions Reported Near Saudi Aramco HQ in Dhahran

Loud explosions were reported near the Saudi Aramco headquarters in Dhahran. The incident occurred on Wednesday, according to a source cited by The Economic Times. The cause of the booms is currently under investigation by authorities. No immediate claims of responsibility or details on damage were provided.

Diwali gets less sweet as sugar prices climb higher

Supreme Court Stays Rahul Gandhi's Trial Over Modi Thief Remark

The Supreme Court has temporarily halted the criminal trial against Congress leader Rahul Gandhi. The case stems from a 2019 remark where Gandhi referred to Prime Minister Narendra Modi as a 'thief'. The trial court in Surat had summoned Gandhi over allegations of defamation. The apex court issued the stay while considering his petition to quash the proceedings.

INDIA bloc's Delhi protests pause for festival season

The INDIA opposition coalition has temporarily suspended its daily protest marches in Delhi. The demonstrations were directed against the BJP-led central government. The pause coincides with the ongoing festival season in the capital. The alliance plans to resume its protest activities after this period.

BJP wins Gandhinagar municipal election, retains control of civic body

The Bharatiya Janata Party has won the Gandhinagar municipal corporation election. The party secured 38 out of 44 seats in the civic body polls. The results were declared on Monday. This victory allows the BJP to retain administrative control of the capital city's municipality.

India Reiterates Ladakh's Integral Status, Rejects China's Claims

India's Ministry of External Affairs has stated that the region of Ladakh is an integral and inalienable part of the country. The statement was made in response to recent Chinese claims regarding the territory. The MEA emphasized that China cannot deny this established position. This reaffirmation underscores ongoing diplomatic tensions between the two nations over the border issue.

Bangladesh threatens action over treatment of Yunus in US

The Bangladesh government has warned of potential action following an incident involving Nobel laureate Muhammad Yunus in the United States. Foreign Minister Hasan Mahmud stated the country is considering next steps after Yunus was reportedly served a court notice at his Washington hotel. The incident occurred while Yunus was in the US for a conference. The government views the manner of service as disrespectful and is evaluating its diplomatic response.

West Bengal CM Mamata Banerjee targeted in alleged knife attack at event

West Bengal Chief Minister Mamata Banerjee was allegedly targeted with a knife at a public event. The incident occurred during her address at an official function. Security personnel intervened swiftly, and the individual involved was apprehended. An investigation into the motive and circumstances is underway.

At least 13 children dead after boat capsizes in Bihar

A boat capsized in Bihar on Thursday, resulting in the deaths of at least 13 children. All victims were reported to be under the age of 15. The incident occurred while the children were crossing a river. Local authorities have launched a rescue operation and an investigation into the cause of the capsizing.

Noel Tata transfers Tata Sons shares to family trusts amid legal dispute

Noel Tata has transferred his shares in Tata Sons to his family-controlled trusts. This move precedes a key hearing in the ongoing legal dispute over the Tata Trusts' control. The trusts are significant shareholders in Tata Sons, the holding company of the Tata Group. This action is seen as a strategic step to consolidate family control ahead of the court proceedings.

Mumbai Airport Avoids Planned Winter Flight Reductions

Chhatrapati Shivaji Maharaj International Airport (CSMIA) in Mumbai has suspended its plan to reduce flight operations during the upcoming winter schedule. The airport operator had previously proposed cutting 42 flights per day starting October 29 to alleviate congestion. This decision follows consultations with the Indian aviation regulator and major airlines. The airport will now maintain its current flight frequency while exploring other methods to manage air traffic and passenger handling.

Analysts warn of larger, harder to contain conflict if Iran-Israel war erupts

Analysts cited in a report warn that a future war involving Iran could be more severe than previous conflicts. The conflict would likely involve multiple fronts and a wider range of weaponry. Such an escalation would present significant challenges for international efforts at containment. The assessment follows recent heightened tensions between Iran and Israel in the Middle East.

AVS Raju, Chairman Emeritus of NCC Ltd, Dies

AVS Raju, the Chairman Emeritus of infrastructure firm NCC Ltd, has passed away. He played a key role in building the company into a major player in the construction sector. His death was announced by The Economic Times. No specific cause or location of death was provided in the report.

Delhi Police Files FIR Against CJP Leaders Over Jantar Mantar Protest

The Delhi Police have registered an FIR against leaders of the Citizens for Justice and Peace (CJP). The case follows a protest at Jantar Mantar in New Delhi on Wednesday where demonstrators allegedly breached barricades. The police action was taken based on a complaint regarding violations of prescribed protest guidelines. Authorities have stated that the legal process is now underway regarding the incident.