Author: News Desk

State Bank of India (SBI) has decided to classify the loan account of Reliance Communications Ltd (RCom) as “fraud” and report the name of its former director, Anil D Ambani, to the Reserve Bank of India (RBI) under existing RBI guidelines. This move follows the findings of SBI’s Fraud Identification Committee (FIC), which observed multiple financial irregularities. RCom acknowledged that it received an official letter from SBI dated June 23, 2025, which was received on June 30. This action comes after a similar move last year by Canara Bank, which had also marked RCom’s account as fraudulent—a decision that was…

Apple’s iPhone production in India is under pressure as hundreds of Chinese engineers and technicians working for Foxconn have been recalled from its Indian facilities. The move is impacting preparations for manufacturing the next-generation iPhone 17, creating setbacks in Apple’s ongoing push to shift more of its production base from China to India. Over 300 Engineers Pulled Out Foxconn, Apple’s largest iPhone manufacturer, has withdrawn over 300 Chinese staff from its southern India plants. This withdrawal began two months ago and has left only Taiwanese support personnel on-site. The change is expected to pose challenges to the smooth operation of…

Despite the setback in Kerala, the U.K. has decided to expand its F-35 fleet. In a press release, the British government announced plans to procure 15 additional F-35B aircraft. As part of a broader initiative to enhance national security, the U.K. will first acquire 12 F-35A fighter jets to participate in NATO’s nuclear-capable aircraft mission. In the next phase, the U.K. will purchase a mix of 12 F-35A and 15 F-35B jets, with further options under review through the Defence Investment Plan. The country’s long-term acquisition target remains at 138 F-35 aircraft under the current programme. This marks the most…

The 19th edition of the Dubai Airshow will take place from 17–21 November 2025 at Dubai World Central, with registration now officially open. Set to be the most ambitious edition yet, this year’s event will feature over 1,500 exhibitors and welcome 148,000 professionals from 98 countries, offering a dynamic platform for networking, innovation, and business collaboration. A Key Contributor to UAE’s Economy According to the International Air Transport Association (IATA), aviation contributes $92 billion to the UAE’s GDP, or 18.2% of the total. With the Middle East’s commercial aircraft fleet expected to grow 5.1% annually over the next decade, events like Dubai Airshow are critical to shaping the region’s aerospace strategy. Introducing New Features…

Group Captain Shubhanshu Shukla, also known as ‘Shux’ among his fellow crew members, is currently on Day Four of the Axiom Mission 4 (Ax-4) aboard the International Space Station (ISS). This mission marks India’s second human space journey after Rakesh Sharma’s historic flight in 1984. Unlike Sharma’s Soviet-backed mission, Shukla’s trip has come with a price—India reportedly paid $70 million (around ₹599 crore) for his seat. A Costly But Strategic Investment Shukla is part of a four-member international crew that includes Axiom commander Peggy Whitson, Poland’s Sławosz Uznański-Wiśniewski, and Hungary’s Tibor Kapu. For all three nations, this mission represents their…

The Dubai Fountain, known globally for its choreographed water displays, has paused shows since April for a large-scale renovation expected to last five months. The site near the Dubai Mall Waterfront Promenade is currently sealed off for construction and upgrade works. Behind-the-Scenes Glimpse by EmaarEmaar, the developer of the attraction, released a video on Instagram revealing the ongoing work. The footage showcases various upgrades including structural improvements and advanced maintenance tools. New Flooring for Better PerformanceA major part of the renovation involves replacing the fountain’s base. The previous surface had durability issues, prompting a redesign. The new flooring includes waterproof…

Raymond Group Chairman Gautam Singhania stated that the company’s real estate arm, Raymond Realty, is currently focused on the “belly of the market,” specifically the affordable luxury segment. While the brand may aspire to launch ultra-luxury ₹100 crore apartments in the future, Singhania emphasized that their present focus remains on high-quality, mid-range housing that meets mass market needs. He illustrated the point by saying, “Today, we make a ₹16 lakh jacket, but that’s just 0.00001% of what we do,” highlighting Raymond’s capability for premium offerings without losing sight of broader demand. Mumbai First, Pune Later Raymond Realty plans to concentrate…

Louis Vuitton’s Spring/Summer 2026 menswear collection has captured global attention with strong influences from Indian culture. Among the standout pieces is a unique handbag modeled after India’s iconic auto-rickshaw, reflecting a creative fusion of traditional street elements with luxury fashion. The Auto-Rickshaw Handbag Goes Viral The quirky handbag was first spotted during a re-see session and shared online by the anonymous fashion influencer Diet Paratha. The leather bag is shaped like a miniature three-wheeler, complete with handlebars and wheels, and is covered in Louis Vuitton’s signature monogram canvas. The post jokingly noted, “Did this bag just colonise me?” and predicted…

Saraswat Co-operative Bank has put forward a voluntary proposal to merge the financially troubled New India Co-operative Bank with itself. The proposal, which is awaiting approval from the Reserve Bank of India (RBI) and shareholders of both banks, is aimed at protecting depositor interests and stabilizing the operations of New India Co-operative Bank. Timeline and Background of the Merger Saraswat Bank Chairman Gautam Thakur stated that the merger process is likely to be completed by August or September. The move follows strict restrictions imposed by the RBI in February on New India Co-operative Bank, following a ₹122 crore embezzlement scandal…

In June 2025, Bangladesh made its single largest power payment of USD 437 million to Adani Power, settling all pending dues, including carrying costs and obligations under the Power Purchase Agreement (PPA). This significant development has reaffirmed Adani Power’s Godda plant as a reliable and competitively priced energy source for Bangladesh. Regular Payments and Additional Guarantees Bangladesh is now making regular payments to Adani Power, with Letter of Credit (LC) coverage equivalent to about two months of billing. In addition, a sovereign guarantee has been provided to secure all dues, putting Adani in a stable financial position. Over the past…