Jensen Huang, Nvidia CEO, lauded China's AI contributions at a Beijing expo. He highlighted DeepSeek's efforts and China's rapid innovation. Nvidia will resume H20 chip sales to China after US assurances. This news boosted global tech markets, with Nasdaq reaching a record high.
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India has significantly increased the flying rights for Kuwait, raising weekly seat capacity by 50% to 18,000. This agreement, signed by aviation officials from both nations, marks Kuwait's first bilateral capacity increase in 18 years. The move comes amid rising travel demand and aligns with India's policy to bolster its carriers' international presence through strategic agreements and infrastructure development.
Costa Coffee India witnessed substantial growth in FY25, with revenue reaching Rs 198.5 crore and profit climbing to Rs 149.7 crore, fueled by expansion to 220 outlets. Despite a slight dip in gross margin and same-store sales growth, the company is aggressively expanding, targeting 40-50 new outlets annually.
India's petroleum regulator, PNGRB, has mandated a uniform rate for piped natural gas (PNG) for all households, regardless of consumption. This directive addresses concerns that tiered pricing systems may encourage misuse of subsidized gas by commercial entities misclassified as domestic consumers.
Following the release of the AAIB's preliminary report on the Air India 171 crash, pilot associations ALPA and ICPA have voiced strong objections. ALPA criticizes the report's procedural flaws and perceived bias towards pilot error, while ICPA condemns speculative narratives suggesting pilot suicide.
RBI's new directive allows banks to accept voluntary gold and silver pledges for agricultural and MSME loans up to Rs 2 lakh, even within collateral-free limits. This aims to enhance financial inclusion in rural areas where gold is a liquid asset, enabling faster loan processing and reducing reliance on informal lenders.
India's tax administration has seen significant improvements, leading to a five-fold increase in income tax refunds and a reduction in processing time from 93 to 17 days. Direct tax collections have tripled in the last decade, reflecting increased formalization and voluntary participation.
The Federation of Indian Export Organisations (Fieo) has pinpointed over 300 promising export items to the US, urging tariff reductions. These items, ranging from frozen shrimps to smartphones, are commercially significant and strategically stable.
HDFC Bank and ICICI Bank both reported robust earnings growth for the June 2025 quarter, fueled by increased interest and non-interest income. HDFC Bank announced a bonus issue and dividend, with net profit rising 12.2%. ICICI Bank's net profit grew by 15.4%, driven by income growth, while both lenders expressed caution regarding margin pressures and certain retail lending segments.
Prada has refuted claims of violating Geographical Indication (GI) rights linked to Kolhapuri chappals after showcasing sandals inspired by the traditional Indian footwear. The luxury fashion house responded to a legal notice from LIDKAR, asserting that their sandals were simply described as 'leather sandals' without any reference to the Kolhapuri region or techniques.