Author: News Desk
Elon Musk is the driving force behind several groundbreaking companies, each reshaping its respective industry. As CEO of Tesla, the world’s most valuable carmaker, he leads the development of electric vehicles and solar energy solutions. Musk also heads SpaceX, a rocket manufacturing company that partners with NASA for space station resupply missions. Additionally, he owns X, formerly known as Twitter, and oversees ventures such as Neuralink, xAI, and The Boring Company. A Milestone in Wealth On December 11, CNN reported Musk’s net worth surpassed $400 billion, making him the first person to achieve this milestone. His fortune primarily stems from…
Indian cinema has witnessed a dramatic transformation in recent years. No longer is it solely Hindi films dominating the industry. South Indian cinema, especially films from the Tamil, Telugu, Kannada, and Malayalam industries, has gained widespread popularity across the country. Movies like KGF, Baahubali, and RRR have proven that regional cinema can appeal to a pan-India audience, breaking box-office records and expanding the reach of South Indian films globally. Marakkar: Lion of the Arabian Sea – A Game-Changer One of the most notable examples of this shift was the release of Marakkar: Lion of the Arabian Sea, a Malayalam historical…
Taiwanese footwear giant Hong Fu Industrial Group, a key supplier to global brands like Nike, Converse, Adidas, and Puma, marked its entry into India on Monday with the groundbreaking ceremony of its Rs 1,500-crore footwear manufacturing facility at SIPCOT Industrial Park in Panapakkam, located about 85 km from Chennai. A Major Milestone for Hong Fu As the world’s second-largest manufacturer of non-leather athletic footwear, Hong Fu produces approximately 200 million pairs of sports shoes annually, generating $3 billion in revenue. The ceremony, which was attended by Chief Minister M.K. Stalin, marks a significant step in the company’s global expansion. The…
Elon Musk is set to revolutionize Dubai with a cutting-edge science institute, The Musk Institute, funded by a massive AED 3.67 billion ($1 billion) investment. This ambitious project promises to be a hub for the world’s brightest minds, tackling complex scientific challenges like gravity and nuclear fusion. But Musk’s vision goes beyond just innovation—he aims to create a platform to reverse the global brain drain by empowering local talent. A Vision Beyond the Ordinary The Musk Institute will stand as a three-storey, state-of-the-art facility complete with high-tech research labs and living accommodations for students and researchers. However, true to Musk’s…
IRCTC has unveiled an exciting six-night “Dubai Christmas Delight with Abu Dhabi” tour package, departing from Indore on December 24. The package offers an unforgettable Christmas experience, featuring Dubai’s iconic attractions and a glimpse of Abu Dhabi’s cultural landmarks. Itinerary Highlights Day 1 (24 December)The journey begins with a flight from Indore at 4:40 PM, arriving in Dubai by 9:55 PM. Guests will check into the hotel and rest for the night. Day 2 (25 December)Celebrate Christmas with a delightful breakfast followed by shopping. Explore the stunning Miracle Garden in the evening and enjoy a buffet dinner on a Dhow…
India’s 18-year-old chess sensation, D Gukesh, has not only made headlines for becoming the youngest World Chess Champion but also for the staggering tax implications of his victory. While Gukesh’s triumph against China’s Ding Liren has brought him fame and fortune, the Income Tax Department seems to be celebrating too! Prize Money and Tax Deductions After winning the 2024 World Chess Championship in Singapore, Gukesh is set to take home over ₹11 crore from a total prize pool of $2.5 million (approximately ₹20.75 crore). However, a significant portion of this amount will go towards taxes. Earnings Breakdown: Gukesh won three…
Sanjay Malhotra has been appointed as the new Governor of the Reserve Bank of India (RBI), succeeding Shaktikanta Das, whose tenure ended on December 10. Malhotra began his three-year term on December 11, 2024. As the 26th RBI Governor, he takes on one of India’s most prestigious financial roles, overseeing monetary policy, banking regulation, and financial stability. Salary and Benefits The basic monthly salary of the RBI Governor stands at Rs. 2.5 lakh. With additional allowances such as grade and education allowances, his overall compensation increases. Despite being comparatively modest, the role comes with significant perks, including a government-provided residence…
User fee collections at toll plazas on National Highways have experienced impressive growth, showing a 103.18% increase over the past five years. According to data shared by Union Road Transport and Highways Minister Nitin Jairam Gadkari, toll collections have risen significantly: Rs 27,503.86 crore in 2019-20, Rs 27,926.67 crore in 2020-21, Rs 33,928.66 crore in 2021-22, Rs 48,032.40 crore in 2022-23, and Rs 55,882.12 crore in 2023-24. Increase in Toll Plazas and Revenue During the ongoing winter session of the Rajya Sabha, Ludhiana MP Sanjeev Arora raised questions about the number of toll plazas on National Highways. In response, the…
Saudia, the national airline of Saudi Arabia, has been gradually reducing its flight operations to India over the past few months. This move is surprising given the strong demand and potential for air travel between the two countries. The aviation market between India and Saudi Arabia has long been thriving, characterized by frequent passenger traffic and economic connections. Impact on Key Indian Cities The airline’s scaling back of flights has notably impacted cities like Bengaluru, Chennai, and Hyderabad, which have traditionally had strong demand for travel to Saudi Arabia. Bengaluru, for instance, has seen a reduction from daily flights to…
India and Russia are in discussions to introduce a visa-free arrangement for Indian tourists, potentially starting in spring 2025. This follows talks in June about a bilateral agreement aimed at facilitating group tourist exchanges without the need for visas. This move builds on India’s recent inclusion in Russia’s e-visa program, launched in August 2023, which allows Indian travelers to apply for visas online, typically processed within four days. In 2023, India was among the top five countries receiving e-visas, with 9,500 issued, representing 6% of the total. While most Indian visitors to Russia travel for business, the number of Indian…