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Israel's president officially gives Eisenkot first chance to form next government
Israeli President Isaac Herzog appointed Gadi Eisenkot to form the next government after elections on October 27. Eisenkot, Netanyahu's main rival, now begins complex negotiations with potential coalition partners. With six weeks to complete this task, the political landscape is uncertain. Notably, the Arab-led parties, who gained historically, may play a crucial role. Neither Netanyahu's bloc nor Eisenkot achieved a clear majority in parliament.
How to invest this Diwali: ICICI Prudential AMC’s Chockalingam Narayanan shares his Samvat 2083 playbook
As investors prepare for Samvat 2083, the focus is shifting towards companies with strong earnings and cash flows. ICICI Prudential AMC suggests that the market is valuing current earnings more than distant growth predictions. The recovery in IT stocks may signal changing technology spending trends, but caution is advised. Opportunities in India's manufacturing and investment landscape could arise from supply-chain diversification and new trade agreements.
Israel's president offers Benjamin Netanyahu's rival Gadi Eisenkot opportunity to form new government
Israel President Isaac Herzog has tasked opposition leader Gadi Eisenkot with the first opportunity to form a government after the October 27 elections, bringing him closer to potentially unseating long-serving Prime Minister Benjamin Netanyahu. Eisenkot has six weeks to secure a parliamentary majority, but coalition talks face major hurdles, including divisions over Arab-led parties, religious factions and Netanyahu's political allies.
IFC extends $150 million credit line to SBI in first investment in an Indian state-owned bank
The International Finance Corporation has extended a $150 million social loan to State Bank of India to support agricultural financing for around 864,000 rural women. The IFC has also executed its first domestic cross-currency swap with an Indian bank, making SBI its first local swap counterparty in South Asia.
ETtech Deals Digest: Eloelo leads as weekly funding rises to $142 million, down 35% on-year
Eloelo led deal activity with $80 million, followed by Peppermint Robotics at $10.6 million, altM at $10.3 million, Two Point O Capital at $10 million, and PowerUp Money at $10 million. Crane Venture Partners was among the most active investors, backing Peppermint Robotics and Armatrix. Omnivore invested in altM and Two Point O Capital, while Flourish Ventures backed PowerUp Money.
Govt working on telecom PLI with focus on higher local value addition
The Ministry of Communications is preparing to propose a second edition of the telecom production-linked incentive scheme. This new scheme will emphasize design-led higher value addition in the telecom sector. The first edition of the telecom PLI scheme attracted significant investments and involved approvals from numerous companies. Additionally, incentives under design-led manufacturing have been applied for by several firms. The proposal will undergo inter-ministerial consultation before seeking Union Cabinet approval.
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Electric vehicle sales jump 45% to 3,54,625 units in October, led by e-two wheelers and burgeoning demand
Electric vehicle sales in India experienced significant growth in October, reaching 354,625 units. E-two-wheeler sales contributed most, totaling 224,064 units this year. There was also a notable increase in e-passenger vehicles, with volumes rising to 37,049 units. Electric three-wheelers grew to 88,570 units, continuing the overall upward trend in the EV market. The report indicates that demand continues to exceed supply due to rising fuel prices.
Go Digit says IRDAI's EoM rules led to unintended rise in commission
Goyal said that the existing Expense of Management (EoM) framework had failed to achieve its intended objective of reducing expenses, with some insurers using savings from large government and crop insurance businesses to increase commissions in retail segments.
Jantar Mantar protests: HPEC received hardly any complaints, SC told
The High-Powered Enquiry Committee is currently facing difficulties in receiving complaints about the July 20 protests. It has issued notices in 149 newspapers but received very few responses from the public. The protests, led by the Cockroach Janta Party, called for the resignation of Union Education Minister Dharmendra Pradhan. The Supreme Court has directed the committee to submit interim reports regularly.
Australia data centre inquiry finds inadequate checks, stops short of moratorium
An inquiry into data centres by Australia's most populous state found approvals failed to consider the cumulative effect on resources and infrastructure but stopped short of calling for a moratorium, prompting a blistering rebuke from its chair.
SBI-led banking alliance comes together to mount a defence to AI threats
Indian Banks' Association, led by State Bank of India, is developing a strategy for cybersecurity in the AI era. The initiative focuses on improving coordination among banks and facilitating timely information sharing. Increasing digitalization has expanded the potential for cyberattacks, urging immediate measures to mitigate risks.
Maharashtra clears move to appoint directors in big cooperatives, Opposition cries foul over Gokul
The Maharashtra government has approved a proposal allowing it to appoint five directors to cooperatives with annual turnover exceeding Rs 500 crore, including Gokul Dairy. The move has triggered Opposition protests, with Congress alleging an attempt to override the mandate of elected board members and gain control of the Kolhapur-based cooperative.
Peppermint Robotics raises Rs 100 crore led by pi Ventures, Crane Venture Partners
The company was founded in 2019 by Runal Dahiwade, and has raised Rs 150 crore to date. It also develops autonomous robots for material transportation and operates in nine countries. The US is its largest market, followed by India and western Europe, Dahiwade, who’s also the CEO, told ET.
India’s IT sector needs a new talent architecture
Growing demand for AI-related services is challenging providers, as they struggle to generate significant revenue. Companies must redesign their workforce models to capture opportunities in an AI-driven market. Existing talent architectures focus on old skill sets and hierarchies, which are becoming less relevant. Investing in specialized roles and capabilities will better align with the new market demands.
EloElo Group raises $80 Million in Series C funding led by Hornbill Capital, NBCUniversal
EloElo Group has successfully raised $80 million in a Series C funding round to expand its AI-driven entertainment ecosystem. The company's focus will be on producing new original content and launching international micro-dramas. With over 40 million active users, EloElo plans to enhance its AI production capabilities through Dolphin AI. The funding will also support the company's aggressive growth strategy across diverse language offerings.
BLS International Services net profit rises 8.6% to Rs 201.7 cr in July-September
BLS International Services reported an 8.6 percent growth in profit after tax for the quarter ended September 2026. The company's revenue from operations rose by 32 percent compared to the same period last year. Investments in AI technology, automation, and employee upskilling are part of their growth strategy. The leadership expressed confidence in future growth supported by technology and global expansion.
Giva raises over $100 million led by Multiples Alternate Asset Management
Founded in 2019, Giva focusses on everyday wear and gifting jewellery made from silver, gold, and lab-grown diamonds, sold across online and offline channels. Currently, it has around 425 stores across India and Sri Lanka. By the end of the financial year, it aims to scale to 470-475 stores and plans to have 2,000 in the next four years.
Happiest Minds Q2 Results: Profit rises 15% to Rs 62 crore; revenue up 12% to Rs 645 crore
Happiest Minds Technologies has seen a 15.12% rise in consolidated net profit for the September quarter FY27. Revenue from operations also increased by 12.5% compared to the previous year. The company announced an interim dividend of Rs 3.05 per equity share for the 2026-27 fiscal year. An exceptional charge was included in the quarter's results due to a proposed merger with ITC Infotech.
Corporate India's white-collar hiring rises 14% in October, led by manufacturing
Corporate India's white-collar hiring showed a 14% increase in October compared to the previous year. Notably, production and manufacturing roles experienced a significant growth of 39%. The demand for AI/ML skills also remained strong, leading to a 32% increase in hiring. Various sectors such as automobiles and BPO/ITeS witnessed substantial hiring increases as well. Overall, metropolitan areas like Hyderabad and Pune led in job growth during this period.
Solgram raises Over $1 million in pre-seed funding led by DSG Consumer Partners and Saama Capital
This funding will bolster its cold-chain infrastructure while improving its technological capabilities.
India will become the world’s largest economy by end of the century, predicts top economist Jeffrey D Sachs
Renowned economist Jeffrey D Sachs said India could become the world’s largest economy by the end of the century, with a population twice that of China. Speaking at the World Symposium on "Ancient Wisdom for Modern Challenges" in Varanasi, he said the world was moving towards a multipolar order where no single country or region would dominate.
Beyond tech: Kotak MF’s Shibani Kurian on India’s next innovation-led winners
Innovation-led investment opportunities in India are extending well beyond technology, with healthcare, auto components and industrials emerging as key areas of interest, according to Shibani Kurian, Head of Equity Research and Senior Fund Manager at Kotak Mahindra AMC. “Innovation can be seen across sectors and not necessarily limited to technology,” she said.
Wealthtech firm PowerUp Money raises $10 million led by Flourish Ventures
PowerUp Money was founded in 2024 by Jindal, who had previously cofounded Uni Cards. It offers mutual fund advisory services to retail investors, at time when the Indian mutual fund industry is seeing record SIP inflows. The company has more than 1.5 million customers tracking portfolios worth over Rs 2.5 lakh crore on its platform.
BCCI announces India A squad led by Tilak Varma with Abhishek Sharma and Vaibhav Sooryavanshi
In an exciting announcement, Tilak Varma will lead India A at the ACC Men's Rising Stars Asia Cup 2026 in Doha, scheduled from November 19 to 29. With eight teams in play and a shift to a 50-over game, this tournament promises to showcase a blend of experienced players and rising stars, such as 15-year-old Vaibhav Sooryavanshi.
Climate platform Two Point O raises $10 million led by Transition Venture Capital
The company plans to enter battery energy storage while expanding its existing offerings in solar power, energy efficiency, and wastewater treatment. It will also target customers in sectors such as data centres, automobile manufacturing, pharmaceuticals, and healthcare, where energy and water consumption are significant operating costs.
Centre gives Nandan Nilekani-led exam reform panel more time, extends deadline to January 2027
Centre has extended the deadline for the Nandan Nilekani-led examination reform task force to January 2027. The six-member panel has received over 50,000 suggestions and consulted former ISRO chairman K Radhakrishnan. Its mandate includes recommending measures to prevent paper leaks and strengthen India's examination system following repeated NEET controversies.
CCI clears Prosus' proposal to acquire stake in Sachin Bansal-led Navi
Competition Commission of India has approved Prosus' acquisition of a stake in Navi Ltd. This move aims to enhance Prosus' position in India's digital financial services market. MIH Payments Holdings BV, part of Prosus, will acquire certain shareholding in the fintech firm. Navi Ltd provides various financial services, including loans, insurance, and digital payments. This investment marks a significant milestone in Navi's growth after securing USD 100 million from Prosus.
Saudi-led coalition says it destroyed drone fired by Yemen's Houthis over Mecca
The Saudi-led coalition said it intercepted and destroyed a drone launched by Yemen's Houthi rebels in the Mecca region on Friday. The incident marks the latest reported cross-border attack involving drones and missiles targeting Saudi military installations, airports and energy infrastructure. The Houthis have not commented on the latest incident but have previously denied targeting Mecca and Medina, Islam's two holiest cities.
Yousef Jabareen takes centrestage as Israel's election throws up no clear winner; here’s everything to know about the Joint List leader as neither Netanyahu’s group nor Gadi Eisenkot’s alliance secure majority
Israel's recent elections resulted in no party gaining a parliamentary majority, leading to a focus on Arab-led parties. Yousef Jabareen stated his willingness to work with the opposition to remove Prime Minister Netanyahu from power. The Joint List and Ra'am party together were projected to win 19 seats in parliament. Jabareen emphasized the need for equality and rights for the Arab community in Israel.
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