Rupee rises by 51 paise against US dollar due to strong domestic equity markets, weakening greenback, and decline in oil prices. US President Donald Trump suspends additional tariffs on India. Expectations of further fall in dollar index and range-bound trading for rupee. Dollar index hits decades low against Swiss Franc.
Kia has launched the second-generation Seltos in India, with a focus on reclaiming leadership in the mid-size SUV segment. The segment has seen a 9% YoY growth in India's FY2025, making up 14.2% of the PV market. The new Seltos features India-focused engineering, including ADAS localization and a 30-inch digital cockpit.
Shahrukhz by Danube, a luxurious tower in Dubai named after Bollywood superstar Shah Rukh Khan, sold out for over Rs 5,000 crore on launch day. The 55-storey tower will be completed by 2029 and will feature 488 units with top-notch facilities. Plans for similar towers in New York, London, Delhi, and Mumbai were also announced at a star-studded ceremony with Shah Rukh Khan in attendance.
President Trump is contemplating removing federal taxes on gambling winnings, which would align with his previous elimination of taxes on tips, overtime pay, and Social Security benefits. This could affect federal revenue and reporting requirements for the majority of Americans who have gambled in the last year. The current tax rate for gambling winnings over $5,000 is 24%.
Food delivery platform Swiggy raised Rs 10,000 crore through a QIP, which was oversubscribed 4.5 times. The funds will be used for scaling up infrastructure, technology upgrades, marketing, and potential acquisitions. Swiggy's cash burn for the September quarter was at Rs 740 crore, higher than Zomato's Rs 543 crore.
Tata Steel has acquired majority stake in Thriveni Pellets Pvt Ltd and formed a partnership with Lloyds Metals to enhance its supply chain and promote sustainable growth in the domestic steel sector. The acquisition includes a pellet plant and a slurry pipeline, while the partnership will explore cooperation in greenfield steel projects and iron ore mining.
IndiGo's operations are recovering after 6 days of chaos, but 220 cancellations were still reported on Wednesday. Crisil Ratings has put parent company InterGlobe Aviation on 'Rating Watch with Developing Implications' due to the ongoing struggle, which could affect financial and operating performance.
A small plane made a dramatic emergency landing on a busy highway in Florida, colliding with a moving car during rush hour traffic. The 27-year-old pilot and his passenger escaped unhurt, but the 57-year-old woman driving the car sustained minor injuries. The incident was captured on a dashcam and is under investigation by the FAA.
SBI Mutual Fund, a joint venture between State Bank of India and Amundi, is planning to launch an initial public offering (IPO) within the next 12 months. The fund house manages assets worth Rs 12 lakh crore and its two promoters plan to sell a combined 10% stake through the IPO. SBI Mutual Fund is the largest asset management company in India, with a market share of 15.55%.
December is off to a great start with Aditya Dhar's Dhurandhar and a lineup of promising releases for movie-lovers. From war films like Ikkis and Anaconda, to romcoms like Tu Meri Main Tera Main Tera Tu Meri and Avatar Fire and Ash, there's something for everyone.
Byju Raveendran, founder of Byju's, had a USD 1 billion damages ruling reversed by a US bankruptcy court. A new phase will begin in early 2026 to determine damages. Raveendran plans to take further action against GLAS Trust and others for their conduct and file a USD 2.5 billion lawsuit against relevant parties, providing evidence to disprove false allegations.
Priya Sachdev Kapur challenges Delhi High Court’s authority over Sunjay Kapur’s foreign assets worth Rs 30,000 crore. His children with ex-wife Karisma Kapoor have accused her of forging the will and approached the court. The ongoing legal battle has intensified with Priya arguing that the court has no jurisdiction over the assets in the US and UK.
SBI MD Ashwini Kumar Tewari expressed concerns over the Account Aggregator's mechanism of obtaining a single consent from customers for all financial services products. He highlighted that most customers do not read the fine print and often sign up without understanding the details. Tewari also mentioned the importance of privacy in the era of GDPR
Indian tech stocks face challenges with weak demand, layoffs, and investment in AI. Jefferies predicts uncertain growth for the IT sector in 2026, citing concerns such as earnings downgrades, muted outlook, and valuation slide. Mid-sized IT companies have outperformed, but the sector's performance is dependent on earnings and demand.
Venezuelan opposition leader and Nobel Peace Prize 2025 winner Maria Corina Machado will not attend the award ceremony due to her unknown whereabouts. Her daughter will accept the prize on her behalf and give the speech Machado wrote. She had dedicated the prize to US President Donald Trump, thanking him for his support in their fight for democracy in Venezuela.
SpiceJet is set to add 100 daily flights in its winter schedule to meet the high demand for travel. The expansion is driven by seasonal demand and will require regulatory approvals. The airline has added 17 aircraft to support the increase in operations, providing more flexibility and connectivity. This comes as a result of ongoing disruptions at IndiGo.
Reliance Infrastructure, led by Anil Ambani, has been ordered by the Enforcement Directorate to freeze Rs. 77.86 crore in their bank accounts due to alleged FEMA violations. The investigation dates back to 2010 and is related to a domestic project. Anil Ambani's son, Jai Ambani, has also been booked by the CBI for a separate case of bank fraud.
Manish Tiwary, the new chairman and MD of Nestle India, aims to revamp the company's strategy by prioritizing consumer-centricity, volume-led growth, brand investment, and technology-driven efficiency. He believes in focusing on volume growth over pricing and utilizing technology, including AI, to drive growth.
Pakistan's Inter-Services Public Relations Director General, Lieutenant General Ahmed Sharif Chaudhry, sparked controversy after winking at a female journalist during a press conference. The journalist, Absa Komal, had questioned Chaudhry about his allegations against ex-Prime Minister Imran Khan. Chaudhry called Khan a "mental patient" in response to his remarks against the Army Chief.
Goa CM Pramod Sawant has promised an inquiry report on the Arpora nightclub fire, which claimed 25 lives, in 8 days. The state is providing compensation to victims' families and ramping up safety measures at entertainment venues. A special panel is conducting safety audits and 5 arrests have been made. Interpol has issued a notice against the absconding restaurant owners.
Unisem Agritech's SME IPO aims to raise Rs 21.45 crores through a price band of Rs 63-65 per equity share. The IPO will close on December 12, with allotment on December 15 and listing on December 17. The company plans to use the funds for working capital, loan repayment, and general corporate purposes. Net profit of Rs 4.27 crore reported in the previous year.
India and the EU are on track to finalize a free trade agreement, with a December-end deadline set. The pact will cover 23 areas, including trade, services, and intellectual property. The EU's attendance at India's Republic Day parade as chief guest further emphasizes the significance of their trade relations. Both sides are committed to a swift conclusion of the deal.
Conservative activist Laura Loomer launched a personal attack on FBI Director Kash Patel, making a racist comment about Patel’s Indian background. In a post on X, she told Patel that Qatar “makes Indians like you slaves,” referring to the Gulf nation’s labour system.
Many Indians heading home for the holidays now find themselves stuck in a very stressful visa situation. The US State Department postponed thousands of H-1B visa interviews in India, leaving workers confused, angry, and searching for answers.
The Park Medi World IPO has opened for investors to apply at a price band of Rs 154-162 per share until December 12. The company aims to raise Rs 920 crore for reducing debt and expanding its hospital base. Its market debut is set for December 17 on NSE and BSE, but the grey market premium has decreased.
ICICI Prudential Asset Management Company, India's largest active mutual fund manager, will enter the stock market with a Rs 10,602 crore offer for sale on December 12. The IPO, which is purely an offer for sale, will see the promoter selling shareholder receive the funds. The company has a strong leadership team and a 30-year track record, making it a major player in the mutual fund space.
Elon Musk, CEO of Tesla, admitted that the Department of Government Efficiency project he led under President Trump's administration was only "a little bit successful" and he would not do it again. His involvement in the project sparked backlash and concerns from investors about his focus on Tesla. The project has now disbanded with no public accounting of its work.
IndusInd Bank Chairman Sunil Mehta will step down in January after facing criticism over governance and accounting failures. The bank is undergoing an organizational overhaul and aims to achieve a 1% return on assets. Mehta's previous experience includes chairing Yes Bank and Punjab National Bank. The board plans to appoint new directors as part of a restructuring process.
Salman Khan plans to build a Rs 10,000 crore township in Telangana with a film studio, luxury residences, commercial zones, and entertainment spaces. The project has government support and aims to boost tourism and create jobs. It will also include a golf course, race course, and other amenities. Khan is currently undergoing a physical transformation for his upcoming film.
Mammootty's latest release, Kalamkaval, has become a certified blockbuster within just days of its release. The crime mystery has impressed audiences with its thrilling plot, authentic performances, and stellar direction. The film has earned Rs 22.20 crore in India and Rs 50 crore worldwide, with strong regional loyalty and nationwide interest. \
Illinois residents now have the power to take action against federal immigration agents if they think their civil rights were violated. Governor J.B. Pritzker signed the law on Tuesday after the state legislature passed it last month. The law lets people sue for damages in those cases.
Rahul Gandhi's visit to Berlin has caused a stir as the BJP accuses him of neglecting his duties by going abroad during the Lok Sabha session. However, the Congress defends the trip, claiming it will enhance their international presence and allow for important discussions. Gandhi also accuses the BJP of working with the Election Commission to manipulate the upcoming elections.
A total of 17 IndiGo flights were cancelled at Goa and Ahmedabad airports, despite the airline claiming to have reinstated operations and planned to operate 1,900 flights. The government has ordered IndiGo to cut 10% of its flight schedule to stabilise operations, just double that of DGCA.
Amazon aims to invest USD 35 billion in India by 2030, quadruple exports to USD 80 billion, and create one million jobs. This is 2 times Microsoft's investment and 2.3 times Google's investment. The company has already invested USD 40 billion and is the largest foreign investor. They have digitized 12 million small businesses, enabled USD 20 billion in exports, and supported 2.8 million jobs.
VHP President Alok Kumar has urged SCs and STs to identify themselves as Hindus in the upcoming census to prevent social division. The issue was discussed during VHP's Central Margdarshak Mandal meeting in Delhi. Census 2027 will be conducted in India in two phases after 15 years.
Indian applicants seeking a US visa have been urged to stay alert. Even a small mistake, like showing up on the wrong date, can land you in major trouble.
A young tech professional from Bengaluru, Mohammed Ishaq, was among the 25 people killed in a fire at a nightclub in Goa. He was part of a group of six friends on a bachelor party trip when the fire broke out. Safety concerns at the nightclub are under scrutiny and five people have been arrested. The victims died from suffocation, not burns.
The US economy isn’t in the best place right now, but President Donald Trump says his administration is slowly getting the country back on its feet after the ‘Biden era missteps.’
A fire at a nightclub in Goa caused by electric firecrackers set off during a dance performance by a Kazakh national, Kristina, claimed 25 lives and injured many. Kristina did not have a valid work visa, and the police are investigating the incident. Five people have been arrested so far and one person has been detained.
Akshay Kumar, a Bollywood superstar, has a net worth of Rs 2500 crore and a successful career of over three decades. He owns multiple properties in Goa, Mumbai, Canada, and Mauritius, but his most prized possession is the Rs 80 crore Juhu duplex designed by his wife, Twinkle Khanna. This luxurious home boasts a home theatre, lush garden, and private swimming pool.
Shah Rukh Khan, the 'king Khan' of Bollywood, has become a global icon and a significant part of Indian culture. Recently, he was honored with a tower and a bronze statue in London, representing his hard work and success despite personal hardships. Khan's journey has made him a bigger person, achieving great success in both his personal and professional life.
India's spiritual products market, worth Rs 10,000 crore, is being revolutionized by the rise of e-commerce. Younger consumers are demanding high standards of quality, transparency, and experience. FaithTech platforms are modernizing access to spiritual products and services, providing transparency and education, and improving supply chain and quality control systems.
The United States is moving forward with trade negotiations with India, with US Trade Representative Jamieson Greer telling lawmakers that India has made “the best we’ve ever received as a country” in ongoing discussions, IANS reported. The talks focus on expanding American farmers’ access to Indian markets, especially for crops like grain sorghum and soy.
IndiGo, known for its reliability and affordability, is facing a reputation crisis due to flight cancellations and poor management response. The airline's technology and processes, usually strengths, were absent during disruptions, leading to a loss of passenger confidence and reputation equity. To recover, IndiGo must prioritize transparent communication and concrete actions.
Civil Aviation Minister Ram Mohan Naidu apologises and promises strict action against those responsible for the IndiGo fiasco. He also said that he would definitely "sack" IndiGo CEO if it comes to that. The government has ordered a 10% cut in IndiGo's flight schedule, double of what DGCA had ordered.
The UK may lose as much as £10.8 billion ($14.4 billion) over the next five years as the government’s new rules on legal immigration take effect, Bloomberg reported. This estimate comes from a new Home Office impact assessment, which explains how the changes could affect the country’s economy.
Antonio Tajani, Italy's Deputy Prime Minister and Minister of Foreign Affairs, is visiting New Delhi for the second time this year. He will meet with Indian External Affairs Minister S. Jaishankar and participate in official activities in Mumbai. This visit follows recent high-level interactions between the two countries.
Union Minister Ashwini Vaishnaw and Microsoft CEO Satya Nadella discussed the potential of AI in public welfare and India's tech growth. Microsoft pledged $17.5 billion for India's AI ecosystem, expanding data centers and integrating AI tools into government platforms.
A tragic shooting took place at Kentucky State University on Tuesday, leaving one student dead and another critically injured, AP reported. The incident took place inside Whitney M. Young Jr. Hall, one of the university’s residence halls. A suspect was later taken into custody, according to the Frankfort Police Department.
The US State Department has started postponing H-1B visa interviews in India that were supposed to happen later this month, Bloomberg reported. Several immigration lawyers confirmed the development after reviewing emails sent to applicants, adding that the sudden delays come from newly introduced social media checks for H-1B visa seekers.
PFC and SIDBI have scrapped bond issuances worth Rs 11,500 crore due to rising yields, despite a recent rate cut by the RBI. PFC's planned issuance of Rs 3,500 crore would have had a cut-off yield of 7.17%, higher than expected. SIDBI's fundraising plans of Rs 8,000 crore also faced difficulties, with a cut-off yield of 6.86% instead of the desired 6.75%. Dealers express uncertainty