RBI allows LIC to acquire up to 9.99% stake in ICICI Bank
RBI has approved LIC's plan to buy up to 9.99% of ICICI Bank's paid-up capital or voting rights within a year.
Business
Experts call for stronger MSME base to secure India's technological sovereignty
Experts at an ASME India event in Chennai said India's strategic autonomy hinges on a robust MSME supply chain and technological self-reliance.
Electronics to Form Over Half of Car Cost by 2030, Says BCG-ACMA Study
A BCG-ACMA report projects electronics to account for 50-55% of car cost by 2030, up from 30-35% in 2020, urging Indian suppliers to build capabilities.
Oil Shock, AI Capex Slowdown Pose Risks to India's Recovery from Q2FY27
India's cyclical recovery faces risks from an oil supply shock and slowing AI capex, which may hit corporate margins from Q2FY27.
Private Banks Sharpen Gold Loan Play to Capture High-Value Market Share
Large private banks are expanding gold loan operations, targeting urban and higher-ticket segments, with industry growth projected at 28% CAGR through FY28.
Cleaner fuels overtake petrol in India's passenger vehicle sales for first time
In August, CNG, hybrid and EV sales surpassed petrol in India's PV market for the first time, with petrol share falling to 41%.
Jefferies-linked fund secures $499 million freeze against iron ore trader
A Jefferies-linked fund obtained a London court freezing order of up to $499 million against iron ore trader Radiant World and related parties.
FCNR inflows flood banking system, drag short-term borrowing costs sharply lower
A surge in FCNR(B) deposits has flooded the banking system with liquidity, pulling short-term certificate of deposit rates down by over 100 basis points from their peaks.
Jefferies-Managed Fund Holds Nearly $500 Million in Exposure to Radiant World
A Jefferies-managed fund has nearly $500 million in exposure to troubled iron ore trader Radiant World and another entity.
India-US trade deal close, but talks reworked after US court ruling: envoy
US envoy says India-US trade talks are being reworked after a US Supreme Court ruling, but the two sides remain close to a deal.
Anthropic Delays IPO Launch, Eyes Mid-October Listing
Anthropic's IPO timeline slips; marketing now expected mid-October, with filing due late September as it secures a $15 billion credit facility.
Seattle Times and Newsday Sue OpenAI, Microsoft Over Copyright
The Seattle Times and Newsday filed a federal lawsuit against OpenAI and Microsoft, accusing them of copyright infringement in AI training.
Tesla begins Cybercab rides in Austin; US safety regulator steps in
Tesla launched limited Cybercab rides in Austin, prompting NHTSA to evaluate the situation. The move is key to Tesla's robotaxi ambitions.
Aussie Dollar Hits Four-Month High as RBA Rate Hike Bets Firm
AUD/USD rises to $0.7212 on rising RBA hike odds; kiwi weakens after RBNZ's cautious outlook.
Gold Steady Ahead of US Payrolls Data, Set for Weekly Gain
Gold prices held steady on Friday, poised for a small weekly gain, as traders awaited US payrolls data for signals on the Federal Reserve's next move.
Oil heads for biggest weekly jump since July on US-Iran escalation
Oil prices are set for their steepest weekly gain since mid-July, driven by escalating US-Iran hostilities and supply risks in the Strait of Hormuz.
US Carriers Eye Cockpit Traffic Displays Ahead of Possible Mandate
US airlines are considering equipping planes with ADS-B In cockpit traffic displays before any legal requirement, following a deadly midair crash in January.
Tesla Rolls Out Cybercab Rides in Limited Austin Areas
Tesla's Cybercab, a two-seater without steering wheel or pedals, is now offering rides in parts of Austin, Texas.
Yen Holds Gains After Sudden Surge; Dollar Awaits US Jobs Data
The yen's overnight jump keeps the dollar under pressure as markets await the US jobs report for clues on Fed policy.
Gold Steady as Markets Await US Payrolls for Fed Rate Direction
Gold prices held steady in Asian trade on Thursday, with investors awaiting US nonfarm payrolls data for clues on the Federal Reserve's next rate move.