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.
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The Cabinet Committee on Economic Affairs has approved an exemption for NLC India Ltd, allowing a Rs 7,000 crore investment in its renewable energy subsidiary without prior government approval or net worth restrictions. This decision supports NLCIL's ambitious renewable energy targets of 10.11 GW by 2030 and 32 GW by 2047, aligning with India's COP26 commitments and Net Zero goals.
Good news for senior citizens. Higher returns are available on fixed deposits. Small finance banks offer up to 8.5% interest on three-year FDs. Utkarsh Small Finance Bank leads with the highest rate. Be mindful of tax deducted at source. Submit Form 15H to avoid TDS if income is below the taxable limit.
Honda aims to capture 30% of India's two-wheeler market by 2030, recognizing the country's crucial role in its global growth strategy. The company sees significant potential in targeting female consumers, who currently represent only 10% of sales. While optimistic about electric vehicles, Honda acknowledges infrastructure challenges and plans a dedicated EV production plant in India by 2028.
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.
Malaysia has placed immediate restrictions on the movement of high-performance AI chips from the US. This is to prevent unauthorized rerouting to countries like China. All movements of US-origin AI chips now need a permit. This move follows concerns about transshipment of chips via Malaysia. Malaysia is investigating reports of Chinese firms circumventing US export controls.
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.
SpaceX has pledged $2 billion to xAI as part of a $5 billion equity round, strengthening Elon Musk's AI startup's position against OpenAI. Following xAI's merger with X, the combined entity is valued at $113 billion, with the Grok chatbot now supporting Starlink and potentially integrating into Tesla's Optimus robots.
CoinDCX is investigating a security breach of an internal operational account, assuring customers that their funds are safe. Blockchain experts detected suspicious fund transfers, estimating a loss of around $44 million. The exchange has isolated the affected account, is working with cybersecurity firms, and will cover the loss from its treasury while tracing the funds.
The National Highways Authority of India is committed to sustainable development. It has reduced greenhouse gas emissions. This happened even as highway construction increased. The Authority used recycled materials and planted trees. It also developed water bodies and improved worker safety. Technology implementation enhanced project oversight. FASTag usage reduced congestion at toll plazas across the nation.