Stories from earlier this week and beyond.
WazirX, one of India’s largest crypto exchanges, says nearly half of its USD 503 million reserves were wiped out in a cyberattack, wiping away about USD 230 million. The breach raises urgent questions about withdrawals, custody of user assets, and timelines for recovery, leaving investors to navigate uncertainty even as investigations continue.
Gita Gopinath says India is among the worst hit by the West Asia conflict, with disruption spreading beyond prices to supply chains for oil and gas. She warns fertiliser shortages could translate into lower farm output, lifting food inflation later. Growth is still projected around 6.5%, helped by tariff relief, while solar energy could cushion future shocks.
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From January 8, 2026, Indian students applying for Australia will face tougher visa evidence requirements, with India’s evidence level revised from EL2 to EL3. The Indian government is in active talks with Australian counterparts to manage the change and safeguard student mobility. Officials say India will continue supporting scholars seeking international education.
Bosch Limited plans to acquire its vehicle motion business, Bosch Chassis Systems India, aiming to expand and strengthen its mobility portfolio. The deal is designed to sharpen Bosch’s safety and braking capabilities, enabling further investment in these critical areas. The transaction will only proceed after shareholder approval.
India’s labor market is showing a shift as blue-collar roles—especially delivery and driver jobs—see faster salary growth than some entry-level white-collar positions. Manufacturing pay also rises, while metro jobs generally offer higher pay than smaller cities. The IT sector remains a baseline leader, yet the gender pay gap continues to persist despite the overall increases.
Fintech platform Groww has granted 24.32 lakh employee stock options worth about Rs 51 crore, following a standout Q4 FY26. The company reported an 87% jump in revenue and a more than doubling of net profit. With a lean team, Groww is also leaning into AI to speed up product development, signaling ambitious growth plans.
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With the rupee hovering around 90, India is bracing for a potential current account deficit (CAD) stress test, recalling the 2013 episode when the currency fell nearly 29% in six months. Back then, India was tagged a “Fragile Five” economy. The key question now is whether stronger buffers and fundamentals can prevent a repeat during fresh depreciation pressure.
Prosus, the Dutch investor backed by Tencent that has poured about $8 billion into India, is moving beyond bets into a more aggressive AI-led strategy. With milestones like the Swiggy IPO boosting confidence, it’s launching a new initiative built around a partnership and a ground-up approach—drawing attention for its unusual, talent-driven spark.
Korean on-device AI chip startup DeepX is preparing for an initial public offering after completing its current funding round in the first half of the year, CEO Lokwon Kim told Reuters. The company plans to appoint IPO banks once that financing wraps up, and its work with Hyundai Motor and Baidu highlights growing commercial traction for on-device AI hardware.
Punjab Kings are still unbeaten this IPL season, and Cooper Connolly credits their momentum to a learning culture within the squad. After a dominant win over Lucknow Super Giants, he pointed to how players “take little things out of each other’s books” to sharpen performances together. Big totals and key partnerships are now pushing PBKS to the top of the standings.
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India’s blue-collar wages are rising 5–6% annually, fueled by steady demand and performance-based incentives, according to Deloitte’s ‘Blue-Collar Workforce Trends 2025’. The report also notes a 10% jump in hiring intent in 2025, powered by manufacturing, automotive, e-commerce, and logistics as companies chase skilled talent.
Japan’s core inflation slipped under the Bank of Japan’s 2% target for a second straight month in March, aided by subsidies and softer food prices. But the underlying trend remains firm, while rising oil costs and geopolitical risks could reignite price pressures. That mix is leaving policymakers cautious on the timing of future rate decisions.
Canada will eliminate the need for a separate co-op work permit for eligible post-secondary international students starting April 1, 2026. Students can use their study permit for internships and practicums, reducing paperwork and speeding up authorization. The government is also consulting on additional proposals to broaden work rights for students and graduates.
Jefferies says gold has moved into a consolidation phase after a strong retail-led buying surge that peaked late last year and continued into early this year. The report points to broad demand across major markets including India, China, and the United States, suggesting the recent rally may be pausing rather than accelerating.
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Canada will temporarily boost the hiring cap for low-wage foreign workers in rural areas to 15% from 10%, starting April 1, 2026 through March 31, 2027. The change targets ongoing labour shortages in smaller communities and applies to participating provinces and territories, giving employers greater flexibility to fill roles where local supply lags.
As elite colleges reintroduce standardized testing, families are scrambling to boost SAT scores, driving demand for high-priced tutors that can reportedly reach $500 an hour. IvyWise’s CEO says more parents now view the SAT as essential for admissions. Kaplan also reports rising enrollments, linking the surge to the shift to digital SAT formats and the return of required tests at some universities.
The Staff Selection Commission has revised disability certificate formats for recruitment exams in line with Department of Empowerment of Persons with Disabilities guidelines. Candidates can use either the updated or the previous format for ongoing recruitment processes. The update impacts aspirants applying for central government roles through SSC, a key recruiter for many examinations.
After the RBI’s repo rate cut, SBI has reduced its EBLR and RLLR lending rates by 25 basis points. The change is set to take effect from April 15, 2025. MCLR rates will remain unchanged, so the impact on EMIs will depend on whether your loan is linked to EBLR or RLLR.
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BMW’s India leadership says MINI is targeting a major sales jump by doubling volumes in 2026. The automaker plans to broaden MINI’s vehicle lineup, launch new models and special editions, and scale local production where possible. It will also expand its retail footprint and move beyond metros to reach customers in more cities.
Mikel Arteta urged a struggling Arsenal side to embrace the pressure of their looming clash with Manchester City. Arsenal sit six points clear, but City have a game in hand, making the stakes far higher. A City win could sharply reshape the title race as Arsenal aim to recover from recent defeats and arrest their slide.
Akasa Air announced it will launch direct Mumbai–Hanoi flights from September 4, 2026, marking its entry into Vietnam. The airline plans to run four weekly services on the route, aiming to boost travel demand and improve connectivity between India and Southeast Asia as Hanoi and Vietnam attract more Indian travellers.
The Railway Recruitment Board (RRB) has extended the application deadline for several 2025 posts, including Junior Engineer, Depot Material Superintendent and Chemical & Metallurgical Assistant. Now candidates can apply until December 10, 2025. Total vacancies have increased to 2,588, and a modification window is available so applicants can make changes without affecting other recruitment terms.
EasyJet says the Iran war is pushing fuel costs higher, leading it to expect a bigger first-half loss. The airline also sees summer bookings slowing as customers book later and opt more for domestic travel. Even with fuel hedging, management warns that persistently high prices could still pressure fares later this year.
Emil Michael, a former Uber executive, says he will “never forget nor forgive” Benchmark Capital after his 2017 exit alongside founder Travis Kalanick. He credits the investor revolt that followed as reshaping Uber amid ongoing scandals. Michael has since moved to a role with the Pentagon, while Kalanick has returned with a stealth robotics startup.
JioBlackRock Mutual Fund, newly launched, reported Rs 15,258 crore AUM in March. HDFC Bank and ICICI Bank lead its holdings, while the portfolio also includes Bharti Airtel, Reliance Industries, Infosys, and ITC. Prime Database data shows how quickly the fund has built a diversified mix spanning banking, telecom, energy, IT, and consumer stocks.
An investigation into allegations of religious conversion and sexual harassment at a Nashik branch of an IT company indicates seven male accused allegedly acted in a coordinated, organised manner to target female colleagues, according to a senior officer. The case raises questions about workplace safety and how perpetrators may have planned and carried out alleged misconduct.
SoftBank is reportedly looking to raise a $10 billion margin loan, using its stake in OpenAI as collateral. The plan underscores renewed urgency in the Japanese tech firm’s AI bets after recent financial turbulence. If approved, the financing could extend, building on a prior $40 billion bridge loan earlier this year aimed at funding more AI investment.
Tata Consultancy Services says its COO Aarthi Subramanian will head an internal investigation into allegations of mental and sexual harassment by senior colleagues at its Nashik unit. Eight employees claim HR failed to act. Police have arrested seven people, including an HR manager, prompting scrutiny of how large IT firms manage workplace safety in smaller cities.
Tenants who report repair neglect can invoke legal rights to demand habitable living conditions. If the landlord fails to act, tenants may approach authorities for directions, carry out essential repairs, and then seek reimbursement—provided they follow notice rules and document everything. Withholding rent without due process can invite eviction, and tenants cannot seize a landlord’s property to recover costs.
Kiwi cofounder Mohit Bedi has stepped down from his executive role after four years, saying he will shift attention to “personal and family” commitments. In the same LinkedIn post, Bedi clarified he will remain closely connected to the company as an advisor and long term shareholder, keeping influence without running day to day operations.
Oracle’s fresh layoffs, paired with investment in AI infrastructure, are putting H-1B workers in a high-stakes situation. After termination, many rely on a short 60-day grace period to find new employment, change immigration status, or leave the US lawfully. Experts stress quick decisions and careful filings to protect legal status during the transition window.
Infosys board members are set to discuss upcoming leadership changes as CEO Salil Parekh’s current term nears completion. A two-year extension is widely expected to help manage succession planning and ensure continuity. With industry disruptions reshaping demand and technology spending, investors are watching closely to gauge stability and the direction of the company’s next chapter.
SBI Funds Management is reportedly preparing to kick off its IPO as early as next week, seeking to raise up to $1.5 billion. About three quarters of the share sale would be reserved for domestic investors, while the company is also reportedly exploring a pre-IPO placement that could reach $350 million.
Spain has brought into effect a new law to regularise up to 500,000 undocumented foreign nationals by granting temporary residence and work permits. The window runs until June 30, 2026, targeting labour shortages and demographic pressures. Eligibility hinges on residency, age, and criminal-record criteria, with additional routes via employment, family ties, or social vulnerability.
xAI’s legal chief, Keele, has resigned, saying the role was a “dream” and the team exceptional. In posts on X and LinkedIn, she praised working with Elon on the technology but said work-life balance concerns drove the decision, despite admiration for the company’s vision, commitment, and daily smart execution.
Jio Financial Services has partnered with Germany’s Allianz Group in a 50 50 general and health insurance joint venture. The equal collaboration will focus on building products specifically designed for Indian customers, targeting demand for coverage that fits local needs across both health and everyday insurance categories.
Retail headline inflation has jumped past the 4% target set by India’s Monetary Policy Committee, with CPI rising at its fastest pace since June last year. The MPC aims to keep inflation within a 4–6% band, but an ET View note warns CPI could remain elevated due to statistical factors, complicating the path back to target.
A European climate monitor says August was the world’s third-hottest on record, with devastating wildfires and blistering heatwaves across regions. The report warns that unusually warm oceans are intensifying extreme weather risks. It urges faster emission cuts and stronger adaptation planning, arguing that deadly heat and fire episodes are likely to become more frequent and severe.
A fresh online clash between Elon Musk and Sam Altman has escalated from AI chatbot rankings to antitrust and algorithm manipulation claims. Musk posted on X that Grok has lagged behind ChatGPT while hinting at Apple-related antitrust issues and warning of legal action. Altman fired back quickly, calling the allegations “remarkable” and accusing Musk of gaming X’s algorithms for personal gain.
Indian mutual funds have ramped up investments in several new-age companies including Urban Company, Ather Energy, Lenskart, Meesho, and PhysicsWallah. The inflows signal rising confidence from domestic investors in tech-led growth stories. Brokerages are also starting coverage with upbeat views, pointing to a broader shift of institutional capital toward India’s next-gen economy.
Airtel, Jio, and Vi are reportedly wary of Adani Group’s upcoming bid for 5G spectrum that could be used for captive enterprise networks. The telcos argue that allowing direct spectrum allocation for enterprise use may cut into a lucrative segment, with roughly 40% of 5G revenue tied to enterprise customers. The telecom industry is watching how the auction reshapes business opportunities.
Jeff Bezos-backed EV startup Slate Auto has raised $650 million to accelerate production of its first affordable pickup trucks, slated for delivery later this year. The company plans major investment in its Indiana factory and is positioning the trucks as a lower-cost option for buyers squeezed by high living expenses. The latest round was led by TWG Global.
Bitcoin is holding near $78,000 with steady ETF inflows and exchange reserves nearing record lows, pointing to sustained institutional demand. Ethereum slipped, while altcoins moved unevenly. Sentiment is steady as macro worries ease, but profit booking and futures-led momentum hint at a cautious near-term upside as traders watch resistance levels.
Portugal’s right-wing government has approved a bill designed to make it easier to remove illegal immigrants, with officials saying illegality must carry consequences. After the cabinet meeting, government spokesman Antonio Leitao Amaro said removals should happen faster, pointing to a stricter enforcement push by the current administration.
India’s new Code on Wages requires basic salary to be at least 50% of total CTC. That shift is expected to raise provident fund and gratuity contributions, boosting long-term retirement savings. But employees may see lower take-home pay as employers restructure allowances to meet the rule—effectively making it harder for firms to minimize retirement contributions.
Geopolitical tensions are prompting Indian investors to reassess Dubai real estate and residency plans, with expectations split between possible price corrections and market stabilization. Dubai’s long-standing appeal as a tax-friendly base and a crypto-friendly hub is also under scrutiny. Upcoming events may determine whether confidence returns—or triggers more cautious buying and weaker sentiment.
India’s markets defied a rough global backdrop, with the Nifty 50 ending 2025 near 26,000 for the 10th consecutive positive year. Fixed income strengthened too as yields fell. The rally is being linked to a broader economic and business upturn, creating cautious optimism for 2026, even as investor sentiment still lags behind the price action.
Justice Nagarathna urged authorities to consider legislating specifically against deepfakes and AI-enabled forms of child abuse, pointing to rising threats to girls’ safety. Speaking at the Supreme Court’s Juvenile Justice Committee stakeholders consultation with UNICEF India, she highlighted the need for stronger safeguards and a safer environment for the girl child.
From April 1, 2026, India will move to a new Income Tax Act replacing the 1961 law, bringing updated TDS/TCS norms, revised ITR filing deadlines, and fresh rules for buyback taxation. The changes also expand HRA exemptions and increase meal card tax benefits, aiming to simplify compliance while altering how many taxpayers plan year-end paperwork.
Reliance Industries is repositioning its energy strategy, moving from offshore gas extraction to building a green power future around Jamnagar’s giga-scale ambitions. The shift reframes older assets like KG-D6 as “fading fumes,” while new solar-driven plans promise cleaner electrons and a new growth narrative for the company’s next phase.
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