MADE IN EUROPE PROPOSAL IMPACT
Flying IndiGo gets costlier as airline raises fuel charges after another ATF hike
IndiGo will increase fuel charges for both domestic and international flights starting from October 6, 2026. The increase follows a 13.2% rise in aviation turbine fuel prices since October 1. Domestic fuel charges will vary based on distance, while international charges will be categorized by regions. This is the third consecutive monthly increase in ATF costs, reaching a decade high.
UK weighs tariffs on Chinese EVs amid ‘dumping’ concerns: Report
Britain is contemplating the implementation of tariffs on Chinese electric vehicle imports in the near future. This consideration arises from concerns regarding the potential flooding of the market with state-subsidised vehicles. Business Minister Jonathan Reynolds is preparing a package of potential tariffs for Chinese vehicle imports. British officials are eager to align their strategy with the European Union to protect the national car industry.
Despite G7, fuel inflation will remain
G7's recent decision to release 100 million barrels of oil from reserves is unlikely to significantly alleviate fuel inflation as it overlaps with earlier commitments. Despite political pressures ahead of midterm elections, supply disruptions and high global demand may continue to drive prices upward, with corrections expected only by 2027.
'Our side is ready to support': Zelenskyy expresses readiness for US-proposed trilateral talks with Russia
Ukraine is ready for a proposed trilateral meeting with the US and Russia at the technical level by the end of October, President Volodymyr Zelenskyy said. The announcement came after fresh Russian drone and missile attacks across Ukraine, while India said it was separately engaging Moscow and Kyiv on issues including Black Sea shipping and exports.
Jaishankar says India-EU FTA will be a "real game changer" for ties
India and the European Union are working towards a Free Trade Agreement that aims to strengthen their economic ties. External Affairs Minister S Jaishankar highlighted various sectors including technology, defense, space, and climate as key areas for cooperation. The agreement is expected to facilitate regulatory alignment and increase business comfort in both regions.
Germany eyes doubling Indian tourist overnight stays by 2030: GNTB chief
Germany aims to double annual overnight stays by Indian travellers by 2030 as it targets longer trips, repeat visits and travel beyond major cities. Indian visitors generated about 928,635 overnight stays in 2025 and an estimated €1.3 billion in tourism turnover, with Germany also counting on stronger air connectivity and efficient visa processing to support growth.
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Egypt navigates Mecca pact, steps up ties with India
President Abdel Fattah el-Sisi of Egypt met Indian Prime Minister Narendra Modi to deliberate over the Mecca Pact. Their talks centered on fostering robust bilateral strategic partnerships, amid Egypt's choice to refrain from joining the defense pact. Observers remark that the Mecca Pact's relevance is questionable due to a shared enemy's absence. Nonetheless, Egypt positions itself as a crucial stabilizing force within the region.
Russian crude to remain part of energy mix: Jaishankar to Panel
As traditional oil suppliers face challenges, India's significant reliance on Russia for crude oil came into focus. External Affairs Minister S. Jaishankar highlighted the critical nature of sustaining robust relations with Moscow, amid growing external pressures. During their discussions, delegates examined strategies for diplomatic conflict resolution regarding Ukraine while also addressing concerns over impending US tariffs on Russian imports, demonstrating India's commitment to both energy security and international diplomacy.
Trump’s diesel squeeze may put Indian refiners in a sweet spot, and a bind
A potential US diesel export ban could worsen an already tight global fuel market by removing about 1.2 million barrels a day of supply at a time when Middle Eastern, Russian and Chinese exports are constrained. Europe would be particularly exposed, while India could gain export opportunities for its refiners but also face higher crude and domestic fuel costs as global buyers compete for scarce diesel.
BMC entertainment tax proposal likely to marginally increase ticket prices by Rs 5-10
Mumbai movie tickets could become Rs 5-10 more expensive if the BMC raises its per-show entertainment tax from Rs 60 to Rs 400. Exhibitors and producers say the fixed levy would reduce box-office revenue available for sharing, with the impact becoming sharper for poorly attended shows and potentially adding pressure to an industry still recovering from weak footfalls.
Why are oil prices down today? G7 countries' oil reserve release plan to push crude rates lower
Oil prices fell today as G7 countries moved towards releasing up to 100 million barrels of diesel and crude reserves over four months. Brent crude has slipped below $100 a barrel, while US oil prices have fallen around 5% today.
Trump says Europe to unlock ‘massive amount of Diesel’; G7 agrees 100 million-barrel oil release amid global crunch
US President Donald Trump said Friday that Europe had agreed to release a “massive amount” of heavily stocked diesel oil, with the process beginning immediately. His announcement comes as governments respond to a tightening global diesel market, disrupted supplies and elevated fuel prices, putting strategic inventories under renewed scrutiny.
China fuel export suspension to choke supplies in Asia
China's recent export restrictions on oil products have affected several major importers in Southeast Asia and Australia. Singapore has seen a significant drop in gasoline imports from China this year, while Australia remains a key destination for jet fuel imports. The situation has led to increased pricing pressures as Asian refiners respond to tighter supplies. Local authorities in Australia affirm that current fuel stock levels are adequate despite these changes.
French supercomputer maker Bull doubles output to boost Europe's AI ambitions
Bull, the French supercomputer manufacturer, has expanded its factory to double production capacity to meet growing orders. The European Union is investing heavily in supercomputing, committing €7 billion to improve capabilities. France's order for a supercomputer is significant, as Bull aims to deliver systems more efficiently.
European Prize for Women Innovators 2027: Recognition, categories, key dates and application details
The 2027 European Prize for Women Innovators is inviting women entrepreneurs and innovators to apply for European recognition of their work. Jointly awarded by the European Innovation Council (EIC) and European Institute of Innovation and Technology (EIT), the prize recognises women creating economic, societal and environmental impact through innovation.
BMW to cut 8,000 jobs in Germany as AI-led restructuring takes shape
BMW plans to eliminate around 8,000 jobs in Germany as part of its cost-cutting restructuring plan. The German luxury automaker aims to enhance competitiveness amid challenges such as weak demand and increasing Chinese competition. It intends to cut management roles by 20% and streamline its organizational structure while focusing on enhanced artificial intelligence.
PB Fintech shares crash 50% from peak, fall below 2021 IPO price. More downside coming?
PB Fintech shares plunged 50% from their all-time high to drop below the 2021 IPO price of Rs 980. The sharp six-day selloff follows proposed IRDAI regulatory curbs on insurance distribution, prompting brokerages like Bernstein and Jefferies to cut target prices amid earnings pressure concerns.
CEAT expands Chennai plant to boost premium tyre production for India, global markets
CEAT has expanded its manufacturing capabilities at the Chennai plant across various tyre categories and segments. This expansion will enhance the production of advanced products for both domestic and international markets. The facility can now produce seven advanced Truck and Bus Radial sizes to meet changing commercial demands. Additionally, light truck steel radial tyre manufacturing capacity has been scaled up to address growing adoption.
Greggs to spend £60 million cutting hundreds of jobs to save £20 million over two years
Greggs will cut 740 jobs while closing several manufacturing sites across the UK in the upcoming years. The company has announced these changes as part of its investment program and business review. It aims to ensure cost-efficiency and meet capacity requirements for future growth effectively. Although job cuts will occur, retail operations will remain unaffected by this restructuring initiative.
Jio Financial, Allianz pump Rs 640 crore into general insurance JV via rights issue
Jio Financial Services and Allianz Europe B.V. have each invested Rs 320.05 crore in Jio Allianz General Insurance through a rights issue, collectively infusing Rs 640.1 crore into their 50:50 joint venture. The insurer will use the funds for business operations, while Jio Financial’s total investment has reached Rs 375 crore.
‘Focus on claim ratios, not commissions’: Bajaj General CEO on insurance reform
Bajaj General Insurance's MD highlights the need to focus on claim ratios instead of distributor commissions. The insurance regulator recently proposed expense caps for better customer protection. Industry discussions are ongoing to gather insights before formal representations are made. Swiss Re Corporate Solutions will collaborate with Bajaj General to provide tailored insurance solutions for globalizing Indian corporates.
Could you claim full Social Security at 60? New bill targets blue-collar workers — here’s who may qualify
Social Security faces an impending financial wall. Most lawmakers looking at the math suggest raising the retirement age to keep the trust fund solvent. Rep. Haley Stevens, a Michigan Democrat, is proposing the exact opposite. Her Blue Collar Social Security Fairness Act would drop the retirement age to 60 for Americans in physically demanding fields. This covers construction workers, manufacturers, and nurses.
AIMRA announces nationwide 'No UPI Day' on October 2 to protest against proposed MDR for UPI transactions
AIMRA is organizing a 'No UPI Day' on October 2 to protest against the proposed Merchant Discount Rate. The proposed charges are anticipated to burden small businesses and reduce their profit margins significantly. Retailers argue that routine digital payments should remain free for micro and small enterprises. The association demands the reconsideration and withdrawal of the proposed 0.4% MDR.
Why is your $1,390 IRS payment missing? What Americans need to know about the payment rumor and Trump’s $2,000 tariff dividend
IRS relief payment and $2,000 tariff dividend: Rumors of a new federal stimulus check are circulating online again. Digital posts and unsolicited text messages claim the IRS is preparing a $1,390 direct deposit for taxpayers. The claim is a complete fabrication. The federal government is not issuing direct deposit relief payments for the remainder of 2025, and no such program is scheduled for 2026.
Fitch revises PRISM’s outlook to positive, cites improving leverage and stronger cash generation
Fitch Ratings has revised Oyo parent PRISM’s outlook to Positive from Stable while affirming its ‘B’ ratings, citing improving leverage, stronger cash generation and sustained revenue growth. The agency expects EBITDA leverage to fall to 3.8x by FY28 and sees potential for further deleveraging if IPO proceeds are used for debt repayment.
Shein returns to profit in second quarter, but warns of uncertain second half
An increase in total orders fulfilled supported a more than 20% sequential jump in Shein's second-quarter net revenue, although the Iran conflict continued to impact its Middle East operations.
India to continue diesel exports despite possible US ban amid tightening global fuel market
India remains committed to its diesel export contracts, as stated by Oil Minister Hardeep Puri. The global diesel market faces challenges due to geopolitical conflicts impacting supply. Pump prices in the US have surged, leading to speculation about an export ban on diesel. India has overtaken Russia as a top diesel supplier, accounting for significant global shipments.
UK PM Andy Burnham refuses to back Heathrow's third runway project
British Prime Minister Andy Burnham has not supported the proposal for a third runway at Heathrow Airport. He emphasized that the voices of local residents should be prioritized regarding this matter. Previously, former Prime Minister Keir Starmer's government had announced support for the expansion. Heathrow Airport has indicated that the runway's opening could be delayed until 2039.
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