ICICI Lombard Q2 net profit growth 15.5%; Rs 7 dividend announced

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Early crushing to shore up sugar supplies before Diwali

A quarter of Maharashtra's sugar mills will begin operations this week to alleviate sugar shortages before Diwali. Sugar prices have increased by approximately 4% recently due to dwindling supplies and farmer protests. Millers anticipate new sugar reaching markets after October 20, following crushing activities. Farmers are encouraging quicker harvesting of sugarcane due to crop conditions, leading to lower sugar content.

US stocks: Nasdaq ends sharply lower as hot inflation data stirs rate-hike worries

US inflation data for September shows an unexpected rise due to increased gasoline costs and broader price pressures. As a result, the Nasdaq index closed sharply lower, influenced by concerns over potential interest rate hikes. Major AI-related stocks, including Oracle and CoreWeave, experienced significant declines following the inflation report. In financial news, Bank of America reported a decrease in profits due to regulatory costs.

India working to develop China ties again, says Piyush Goyal

India's commerce and industry minister Piyush Goyal highlighted ongoing efforts to improve relations with China while maintaining strong ties with the US. He emphasized that partnerships with trusted countries are essential for India's supply chain strategy. Goyal stated that India's economic and geopolitical concerns will shape its international engagement moving forward. The minister also addressed the need for self-sufficiency in critical sectors amid global disruptions.

'I've ordered a 24-hr review': Mamdani defends NYPD's Tisch after fatal ICE shooting of Oscar Belgal

BlackRock, SBI MF lead Tonbo Imaging’s Rs 255 crore anchor round ahead of IPO

Tonbo Imaging raised Rs 255 crore from anchor investors ahead of its Rs 852 crore IPO, allotting shares at the upper price-band limit of Rs 700. The entirely offer-for-sale issue will open on October 15 and close on October 19.

India's data centre policy in works, says Jitin Prasada

India's government is preparing a data centre policy to enhance the hyperscale data centre sector. The proposed policy aims to streamline approvals and provide infrastructure status to the industry. A tax holiday until 2047 for eligible foreign cloud providers has also been announced. The use of artificial intelligence can improve power generation efficiency and flexibility for data centres.

'Answer the question!': Senators torch Soros-funded witness at fiery Minnesota Somali fraud hearing

Officials can deny benefits if tax relief found sole motive

India has implemented a Principal Purpose Test in the India-Mauritius Double Taxation Avoidance Agreement. This test allows tax authorities to deny benefits when tax relief is a principal purpose. The amendment, effective from August 2026, impacts various foreign investors using Mauritius for investments. The change affects significant cumulative foreign direct investment inflows into India from Mauritius. Experts believe this will alter how investment structures are evaluated under the treaty.

Insurers may face higher crop cover claims in Andhra Pradesh, Maharashtra, Karnataka

In Maharashtra, insurers' liability could be capped at Rs 1,540 crore before the state government takes over claims beyond that level. The state has declared drought-like conditions in 265 talukas, raising concerns over this year's losses.

Mbappe beats Messi's record to become youngest with 100 Champions League appearances

Kylian Mbappe recently achieved a milestone by becoming the youngest player to reach 100 Champions League appearances. He accomplished this remarkable feat at age 27 while playing for Real Madrid against Roma. Prior to Mbappe, Lionel Messi held this record at age 28 set in 2015. Mbappe made his Champions League debut at just 17 years old with Monaco.

World Bank Group mobilizes $36 billion in India for development and job creation over four years

The World Bank Group has mobilised a cumulative $36 billion in India across various development sectors. This funding includes $9.6 billion specifically for aiding micro, small and medium enterprises. Since 2022, the World Bank has invested over $3.5 billion alongside private partners to enhance MSME bankability. The group's global private capital mobilisation has more than tripled, reaching $112 billion in fiscal 2026.