ON BOARD SECURITY
flydubai axe attack renews scrutiny: Key aircraft incidents since 9/11 that reshaped aviation safety rules
A flydubai co-pilot launched a terrorist attack by stabbing the captain with an emergency axe. The plane rapidly plunged 16,000 feet before passengers intervened to gain control. Despite serious injuries, the captain managed to land the aircraft safely, ensuring all passengers survived. This incident has reignited discussions regarding aviation security and pilot screening processes. Past incidents like 9/11 and the Germanwings crash have already changed safety protocols significantly.
Sebi says Jane Street’s appeal for more details a delaying ploy
Sebi has called Jane Street’s demand for additional documents a “dilatory” tactic as the Wall Street trading firm challenges the regulator’s market manipulation allegations. The dispute centres on Jane Street’s trading in Nifty Bank derivatives. The outcome could influence how global trading firms assess regulatory risks in India’s derivatives market, with the hearing set to continue Wednesday.
Jane Street denies manipulation charges in India appeal case
Jane Street Group LLC is currently appealing against the Securities and Exchange Board of India’s allegations of market manipulation. The company has previously been cleared of wrongdoing by regulatory reviews, which raises questions about the ongoing investigation. Jane Street is seeking further information about the origins and conduct of the SEC investigation into its trading activities.
Trump says he personally believes Iran was behind flydubai attack
US President Donald Trump stated he personally believes Iran was behind the recent attack on a flydubai flight. The incident occurred when Omani co-pilot Hamam al-Hammami attempted to seize control of the aircraft. Indian Captain Smit Machchhar successfully thwarted the co-pilot's plan and ensured passenger safety. Israeli Prime Minister Benjamin Netanyahu praised Machchhar for his actions and invited him to future celebrations.
PTC shares soar nearly 34% after Schneider Electric agrees to $22.6 billion buyout
In a strategic move, Schneider Electric has agreed to acquire PTC for $22.6 billion in cash. The acquisition reflects ongoing shifts in the software industry due to artificial intelligence disruption. PTC's board approved the offer, which represents a significant premium compared to its recent share price. Schneider plans to finance the transaction through a combination of debt and new shares issuance.
Boat collision on the Congo River killed at least 30 and dozens are missing, Congolese officials say
A tragic collision between two boats on the Congo River claimed at least 30 lives, with many more missing. The incident took place near Ngombe-Lukolela in Equateur province, where navigating in the dark proved perilous. Eyewitnesses recounted how an overloaded vessel went under, leaving passengers trapped. In response, local authorities have launched a search operation to find those unaccounted for.
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SEBI chairman warns investors against anonymous tips, finfluencers; launches Project Jagrook
Tuhin Kanta Pandey, Chairman of the Securities and Exchange Board of India, has inaugurated Project Jagrook, which aims to boost investor education and awareness. This initiative addresses the stark difference between market understanding and actual involvement, with only 9.5 percent of the 63 percent of households aware of securities products actively engaged.
Schneider Electric to buy US software firm PTC for $22.6 billion
French energy and software group Schneider Electric said Monday that it would buy PTC, a US-based maker of software for industrial clients, for $22.6 billion in cash. Schneider, which makes equipment for energy systems such as data centre cooling, also offers product management software, while PTC specialises in computer aided design and other industrial processes.
Sebi to partly reverse derivative settlement rules after pushback: Report
Sebi is likely to change its closing auction mechanism after sharp derivatives price swings on expiry days. The regulator may stop using the closing auction for derivatives settlement for at least a year, shifting to a 30-minute volume-weighted average price, while retaining the auction for less-liquid underlying stocks.
UAE had shared details about FlyDubai flight with Israel, including pilots' names and nationalities
Authorities in the United Arab Emirates provided Israel with a list of passengers from a FlyDubai flight. An Omani co-pilot attacked the captain and attempted to take control of the aircraft. Israeli Prime Minister Benjamin Netanyahu ordered an investigation into aviation security measures following the incident. The co-pilot had previously been barred from flying by Oman due to extremist views.
Flydubai drama: 'UAE shared crew details with Israel ahead of flight'
A Flydubai flight headed for Israel was nearly compromised when an Omani co-pilot, previously banned from flying due to extremist views, attempted to seize control of the aircraft. UAE authorities are investigating significant security lapses, including how the co-pilot managed to operate the flight without prior detection or warning from Israeli security agencies.
Karnataka gig workers seek implementation of welfare schemes
In a letter to the board’s chief executive officer, Indian Federation of App-based Transport Workers (IFAT) and Karnataka App-based Workers Union (KAWU) sought immediate rollout of health and accident insurance, income support during medical emergencies and temporary disablement, maternity benefits, scholarships for children of platform workers and an emergency distress fund.
Ola Electric promoter Bhavish Aggarwal pledges 4.32% stake to fund rights issue
Last week, Ola Electric’s board approved a rights issue of partly paid-up equity shares to raise up to Rs 1,000 crore. The board is yet to finalise key terms of the issue, including the total number of shares, issue price, timing and payment terms.
UAE had shared details about FlyDubai flight with Israel, including pilots' names and nationalities
During a FlyDubai flight, chaos erupted when an Omani co-pilot attempted a hijacking, prompting urgent discussions about the crew vetting process. Israeli officials revealed their frustration over insufficient prior warning of the attacker. Initial findings indicate possible security protocol failures that could have prevented the situation. As investigations unfold, unresolved concerns about aviation security practices and international cooperation linger, highlighting the critical need for enhanced measures.
Cube Highways Trust secures Rs.1,150 crore through AAA-rated NCDs
Cube Highways Trust has triumphantly secured Rs. 1,150 crore by issuing senior secured NCDs, boasting a competitive coupon rate of 7.50% per annum, payable quarterly for five years. Major institutional players, Axis Bank Limited and ICICI Bank Limited, were pivotal investors in this transaction. The proceeds will facilitate debt refinancing and support ongoing capital projects, as part of an ambitious financing initiative targeting Rs. 4,500 crore.
Sebi penalises SMC Global Securities for compliance lapses
Sebi has levied a penalty of Rs 1 lakh on SMC Global Securities due to regulatory infractions, particularly the mishandling of client order-placement records uncovered during an inspection. This examination, covering the period from January to September 2024, highlighted issues tied to unauthorized trading and the oversight of authorized representative Amit Lilhare's client transactions. SMC Global Securities operates under Sebi’s regulations and engages with various stock exchanges across India.
Carlsberg India unit, 3 other firms get Sebi nod to proceed with IPO plans
Sebi has provided observations for the IPOs of Carlsberg India, Matangi Rubber, Ujin Pharma, and TMC Transformer. Carlsberg's filing is under wraps, with specifics to be announced later. Matangi Rubber intends to issue 57.61 lakh new shares, complemented by an offer for sale. Ujin Pharma is looking to offer 1.18 crore shares, and TMC Transformer targets a substantial Rs 550 crore IPO, consisting solely of new issues.
Bimal Patel sworn in as judge of International Tribunal for the Law of the Sea
Indian jurist Bimal Patel has officially taken charge as a judge at the International Tribunal for the Law of the Sea (ITLOS) in Hamburg. Patel began his nine-year term after taking oath on Thursday, succeeding Neeru Chadha, whose tenure ended on Wednesday. He was elected to the tribunal last year with 115 votes out of 168 valid ballots.
Vishakha Renewables files IPO papers, eyes Rs 1,250 crore
Vishakha Renewables, a company founded by Gautam Adani that specializes in solar components, has submitted its Draft Red Herring Prospectus. The firm aims to secure ₹1,250 crore through an initial public offering, designated for debt repayment and other corporate needs. A portion, ₹900 crore, will specifically address current borrowings. The IPO also includes an offer-for-sale of 1.81 crore shares, with proceeds benefiting the selling shareholders.
Niti member Rajiv Gauba calls for reforms to strengthen energy security
Rajiv Gauba highlighted the importance of regulation and market reforms for strengthening India's energy security. He emphasized the need for an integrated natural gas value chain to support this transition. Gauba pointed out that enhancing domestic exploration and production is crucial for energy security and economic growth. Additionally, he mentioned the importance of expanding the National Gas Grid and city gas networks.
UAE launches probe into flydubai flight incident, says MoFA
An investigation has been ordered by the UAE following the flydubai flight incident en route to Tel Aviv. The flight was diverted to Tabuk Airport in Saudi Arabia due to an altercation in the flight deck. UAE authorities will examine the incident for possible connections to terrorist activity or prior planning. The UAE Ministry of Foreign Affairs emphasized the need for reliable information and cautioned against speculation.
Inox Air Products files IPO papers; issue size not disclosed
Inox Air Products has unveiled a draft red herring prospectus as it seeks to raise substantial funds through an initial public offering. As a leading entity in India’s pure-play industrial gases sector, the firm, led by Pavan Kumar Jain, is set to sell existing shares specifically from its promoter group.
Midair miracles: Passengers hail Captain Smit Machchhar and Israeli heroes who thwarted attack on flydubai flight
An Indian flydubai pilot, Captain Smit Machchhar, was seriously stabbed by his copilot in an attempted plane crash. Despite his injuries, he unlocked the cockpit door, enabling passengers and crew to overpower the attacker. The plane landed safely, and global leaders hailed the captain as a hero.
NSE gets Sebi nod to launch corporate bond index futures
India's National Stock Exchange has received a no-objection certificate to introduce futures contracts linked to a corporate bond index. This initiative, pending approval from the Reserve Bank of India, aims to enhance investor risk management. As the corporate bond market grows, driven by corporate funding needs, the current secondary-market liquidity highlights a demand for better hedging tools.
Growpital case: Sebi to refund money directly to investors for first time
Securities and Exchange Board of India has ordered a refund for investors affected by Growpital's scheme. The refund will involve ₹192.88 crore raised from over five thousand investors through unregistered entities. Sebi will verify investor details with Cashfree Payments before issuing refunds proportionately. Investors will receive interest at a rate of 12% per annum from the date of the interim order.
Sebi, RBI join hands to make onboarding easier for FPIs
In a proactive move, the Securities and Exchange Board of India has teamed up with the Reserve Bank of India to enhance various regulatory procedures. Their primary focus is on making it easier for foreign portfolio investors to enter the market. The launch of the India Market Access portal in September 2025 marked a significant step forward in this initiative.
Israel to ramp up pilot checks
Saudi authorities have arrested and interrogated the co-pilot of flydubai flight FZ1073 from the United Arab Emirates to Israel, Israeli PM Benjamin Netanyahu said. Some 169 of the total 172 passengers on board were Israeli nationals, Ambassador Daniel Meron at the Israeli permanent mission in Geneva told Reuters.
4,500+ Indian seafarers in Persian Gulf under close watch amid rising maritime threats: MEA
India is currently overseeing the well-being of more than 4,500 Indian seafarers operating in the Persian Gulf. Of this number, 163 seafarers are on board 12 commercial vessels, which include both Indian and foreign ships. The Ministry of External Affairs is coordinating with local stakeholders to ensure their safety and welfare. Recent maritime threats have raised international concerns regarding shipping safety in the region.
Explained: What is a public benefit corporation, the Anthropic legal structure?
AI lab Anthropic, the developer of Claude, is planning one of the biggest IPOs in history as a public benefit corporation, a legal structure that
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