Weekly News Platter
The Economic Times

Weekly News Platter

10 Oct, 2026, 07:36PM IST, PTI
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In case you had a busy week, these are the top stories you need to get caught up to speed...
Sunil Bharti Mittal is prowling for big kill on his African safariSunil Bharti Mittal is prowling for big kill on his African safari
Airtel Money’s London listing has put a roughly $7 billion valuation on Sunil Bharti Mittal’s African fintech bet, highlighting how far the business has moved beyond basic mobile wallets. With more than 54 million customers and growing revenues, the next challenge is to deepen usage across payments, remittances, credit, savings and insurance, turning Airtel Africa’s telecom reach into a broader financial-services platform. Read more
GST 2.0 makes it less taxing as govt scrap arrest powers, raise prosecution threshold to Rs 5 crore in major overhaulGST 2.0 makes it less taxing as govt scrap arrest powers, raise prosecution threshold to Rs 5 crore in major overhaul
The GST Council recently approved substantial reforms to simplify the indirect tax structure and improve compliance. These changes include raising prosecution thresholds and decriminalising several offences, signifying a major shift in GST law. Finance Minister Nirmala Sitharaman outlined plans for these reforms to take effect from April 1 next year. Experts believe these measures will enhance business operations and support economic growth. Read more
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At Rs 35.9 crore, HDFC Bank's incoming boss Anup Bagchi set to be India's highest-paid bank CEOAt Rs 35.9 crore, HDFC Bank's incoming boss Anup Bagchi set to be India's highest-paid bank CEO
HDFC Bank has proposed an annual compensation package of up to Rs 35.90 crore for Anup Bagchi. This remuneration could increase to Rs 43.24 crore with performance-based stock bonuses. Bagchi's package is significantly higher compared to previous CEO Sashidhar Jagdishan's total remuneration. HDFC Bank is seeking shareholder approval for this proposed compensation and Bagchi's appointment. His leadership aims to improve retail loan growth and strengthen investor confidence. Read more
Cheaper to run, but costlier to buy? New CAFE III rules kick in from April 2027; here's how your next car could be affectedCheaper to run, but costlier to buy? New CAFE III rules kick in from April 2027; here's how your next car could be affected
India’s CAFE III fuel-efficiency norms will take effect from April 1, 2027, tightening fleet-average targets for automakers until March 2032. The rules offer incentives for electric vehicles, hybrids, flex-fuel cars and fuel-saving technologies. But will they make cars cheaper to run or push up showroom prices? Here’s how the new standards could affect vehicle costs and what buyers should consider before purchasing their next car. Read more
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Cognizant, Infosys, Tata, Wipro, HCL among 8 IT firms suspended from US green card programmeCognizant, Infosys, Tata, Wipro, HCL among 8 IT firms suspended from US green card programme
The US government's recent decision to suspend eight leading IT companies, including Microsoft, from green card applications for foreign workers highlights pressing job market challenges. Vice President J D Vance pointed out the negative impact on employment opportunities. The Department of Labour has reported significant misuse of the visa system dating back to 2009. Read more
India's anti-terror agency to probe mid-air cockpit attack on Captain Smit Machchhar aboard flydubai flightIndia's anti-terror agency to probe mid-air cockpit attack on Captain Smit Machchhar aboard flydubai flight
The National Investigation Agency (NIA) has registered a case to investigate the alleged mid-air stabbing of Indian pilot Captain Smit Machchhar by an Omani co-pilot aboard a Dubai-Tel Aviv flydubai flight on September 30. The probe was ordered by the Union Home Ministry to uncover the alleged larger conspiracy. Read more
Reliance Jio IPO: Likely price band for India's biggest listing revealed. Check detailsReliance Jio IPO: Likely price band for India's biggest listing revealed. Check details
Jio Platforms has set a price band of Rs 1,065-1,119 for its upcoming IPO. The company plans to raise between Rs 28,755 crore and Rs 30,213 crore with the offer. Public subscription is scheduled to start on October 21, with shares potentially listing on October 28. Read more
Succession battle breaks out at TVS as camps disagree over business division, family MoUSuccession battle breaks out at TVS as camps disagree over business division, family MoU
Deep disagreements over inheritance have emerged between Venu and Mallika Srinivasan's children, leading to potential legal action. While Venu and son Sudarshan believe a family asset division occurred, Mallika and daughter Lakshmi disagree. The conflict centers around a memorandum of understanding related to asset management versus ownership. Significant differences in the market value of their respective companies have intensified the dispute. Read more
Jio to always stand for affordability: Akash Ambani on tariff hike by competitorsJio to always stand for affordability: Akash Ambani on tariff hike by competitors
Jio Platforms MD Akash Ambani said the company will continue to focus on affordability while delivering quality services, even as rivals raise tariffs. His comments came after Bharti Airtel increased postpaid prices by Rs 50. Ambani also outlined Jio’s technology ambitions, including its satellite stack and planned low-Earth orbit constellation. Read more
RBI opens special dollar window for three state-run oil firmsRBI opens special dollar window for three state-run oil firms
The Reserve Bank of India has opened a special facility for three state-run oil marketing companies. This facility is designed to meet their full daily dollar requirements. The arrangement will continue until further notice based on the market conditions. Indian Oil Corporation, Hindustan Petroleum Corporation, and Bharat Petroleum Corporation are the companies benefiting from this initiative. The RBI is providing US dollars through designated banks to ensure smooth operations. Read more
Trump honours Microsoft's CEO Satya Nadella after Vance drops H-1B visa hammer on companyTrump honours Microsoft's CEO Satya Nadella after Vance drops H-1B visa hammer on company
President Donald Trump recognized tech leaders including Satya Nadella with National Medals for their achievements during a ceremony. Vice President JD Vance announced the suspension of Microsoft's green card applications due to alleged visa abuse. Vance criticized Microsoft for laying off American workers while hiring foreign employees. The event coincided with ongoing discussions about the implications of AI on the economy. Read more
Govt withdraws key bank tax benefit on gold, silver and platinum importsGovt withdraws key bank tax benefit on gold, silver and platinum imports
The Indian government did not extend a tax benefit for banks on imports of gold and other precious metals and they have been paying a 3% integrated goods and services tax Read more
Festive rush: Airlines hike fuel surcharge as ATF prices soarFestive rush: Airlines hike fuel surcharge as ATF prices soar
Airlines like Air India and Akasa Air have announced increased fuel surcharges for both domestic and international flights. The rise in aviation turbine fuel prices has significantly impacted operational costs for carriers. Domestic surcharges will be effective on new bookings from October 9, as the festive season approaches. International surcharges vary depending on destination, reflecting additional costs incurred by airlines. Read more
Too pricey to sell? Apple cuts iPhone 18 Pro orders by 20%, Duo faces similar riskToo pricey to sell? Apple cuts iPhone 18 Pro orders by 20%, Duo faces similar risk
Apple has reduced component orders for iPhone 18 Pro and iPhone 18 Pro Max by 15%. This reduction is a response to weaker-than-expected demand for these premium models. Concerns about the upcoming iPhone Duo's reception have also emerged due to high pricing. The delayed launch of the standard iPhone 18 could further impact overall sales. Memory chip shortages are also affecting smartphone prices across the industry. Read more
Trump and Iran agree on one thing. The US election calendar isn't driving their decisions on the warTrump and Iran agree on one thing. The US election calendar isn't driving their decisions on the war
Trump and Iran both say the November 3 US midterms are not driving their decisions on the seven-month war, even as the conflict weighs heavily on American voters through high fuel prices and inflation. Talks have resumed indirectly, but Iran is demanding sanctions relief and an end to the US oil blockade, while Trump continues to alternate between negotiation and threats of renewed military action. Read more
Zelenskiy says letting Russia sell diesel to US is 'investment in war'Zelenskiy says letting Russia sell diesel to US is 'investment in war'
Ukrainian President Volodymyr Zelenskiy has criticized the recent US-Russia diesel agreement. He described it as an investment that prolongs the ongoing war with Russia. Zelenskiy emphasized that allowing Russia to sell diesel will provide funds for further aggression. He remarked that Ukraine is being unfairly used as a front in these discussions. Zelenskiy called for actual de-escalation through reciprocal actions instead of such agreements. Read more
Elon Musk says Starlink's entry in India 'blocked' by oligarchs, alleges 'monopolistic chokehold'Elon Musk says Starlink's entry in India 'blocked' by oligarchs, alleges 'monopolistic chokehold'
Elon Musk on Wednesday alleged that Starlink’s entry into India is being “blocked” by certain oligarchs seeking to protect their “monopolistic chokehold” over Indian consumers. Without naming the individuals or companies, Musk accused them of preventing the satellite internet service from entering the Indian market and called it a “crime against the people of India”. Read more
LCA fighter engine supplies stabilise as GE ships four sets to HALLCA fighter engine supplies stabilise as GE ships four sets to HAL
Hindustan Aeronautics Limited is in discussions with GE Aerospace for technology transfer of advanced F414 engines. The delivery of F404 engines for LCA Mk1A has faced delays, leading to penalties imposed on GE. More than 20 engines are expected to be delivered annually by GE from 2027. The LCA Mk2 is currently under prototype production and will utilize the GE 414 engine. Read more
Sonam Wangchuk threatens ‘anshan fast or padyatra march’ if those detained during CJP protest not released by tomorrowSonam Wangchuk threatens ‘anshan fast or padyatra march’ if those detained during CJP protest not released by tomorrow
Sonam Wangchuk expressed concern over the arrests of leaders during protests against Chief Election Commissioner Gyanesh Kumar. He stated that an Anshan Fast or Padyatra March might be necessary if those detained are not released. Wangchuk conveyed his unexpected feelings regarding the current state of democracy in the country. He called for unity and peace amidst these ongoing protests. Read more
‘BJP winning despite Rahul Gandhi’s lies, confusion and malicious propaganda,’ says Amit Shah after bypoll victories‘BJP winning despite Rahul Gandhi’s lies, confusion and malicious propaganda,’ says Amit Shah after bypoll victories
Amit Shah criticized Rahul Gandhi and the INDIA alliance for their lies and confusion following bypoll results. The BJP secured significant wins in West Bengal, Assam, and Puducherry, showcasing its public support. Voters expressed their trust in the BJP during recent municipal elections in Rajasthan and Tripura. Shah stated that opposition parties question institutions after defeats, highlighting their lack of credibility. Read more
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