Shares of lubricant maker Castrol India, a unit of British Petroleum (BP), surged over 13% after reports of Saudi Arabia's state-owned oil giant Aramco considering taking ownership of BP's Castrol brand. This news comes as BP announced a strategic evaluation of its Castrol division, with a potential valuation of $10 billion, and Aramco showing interest in expanding its presence in key growth markets. The stock price rose for the fourth consecutive session, as the BSE Sensex and NSE Nifty also saw significant gains mid-day.
India's market regulator SEBI has imposed a ban on US trading firm Jane Street Group from accessing Indian securities markets and frozen Rs 48.4 billion ($570 million) in alleged unlawful gains. This comes after allegations of market manipulation in India's booming equity derivatives market, where Jane Street reportedly earned over $2.3 billion in net revenue last year. Despite warnings and interactions, SEBI found that Jane Street continued to engage in suspiciously large trades, highlighting the importance of curbing market manipulation and maintaining fair trading practices.
Soham Parekh, an Indian software engineer, has sparked controversy and outrage in Silicon Valley by allegedly working at several startups simultaneously without disclosing it to any of them. Startup founders have come forward with their experiences of being deceived, raising questions about Parekh's motives and methods. The engineer himself has addressed the situation, admitting to working around 140 hours a week to overcome financial struggles and maintain a clear boundary between his personal and professional life.
The Builders' Association of India (BAI), representing contractors in Maharashtra, has issued a reminder legal notice to the state government for non-payment of dues totaling over Rs 90,000 crore. This is the second notice, with the first going unanswered. The government has reportedly floated new tenders for upcoming projects, while contractors are struggling with financial stress due to the delayed payments. If the government does not respond, legal action may be pursued.
The Delhi High Court has ordered Patanjali Ayurved to remove advertisements that were deemed disparaging towards Dabur's Chyawanprash products. The court's interim order came after Dabur filed a suit against Patanjali, arguing that the latter's advertisement featuring Baba Ramdev questioned the authenticity of Chyawanprash produced by other brands. Dabur claimed that the advertisement not only misleads consumers but also infringes on regulatory standards for Chyawanprash, which is classified as a classical Ayurvedic medicine.
The Chattanooga Airport welcomed Spirit Airlines with open arms as the bright yellow plane landed on Wednesday, bringing in new direct flights to major cities and bolstering business connectivity in the city. The new service will make it easier for travelers to reach Latin America and the Caribbean, while also showcasing the airport's recent improvements and future plans for expansion. With Chattanooga being only the third destination in Tennessee for Spirit, the airline's investment reflects confidence in the city's thriving economy and potential for growth.
Haraa Gold & Diamonds, a new premium jewellery showroom in Jubilee Hills, Hyderabad, was inaugurated by popular actress Sri Gouri Priya. The brand, known for its exquisite craftsmanship and timeless elegance, was introduced to the public by founder Shanila Reddy. The showroom is offering exciting grand opening deals, which include discounts on gold and diamonds, making it the go-to destination for luxury jewellery shopping in the city.
Arfa Javaid, a young and talented content writer from Delhi, has made a name for herself in the writing and editing industry. With her skills and expertise, she has become a published writer on various platforms such as YourQuote, Nojoto, UC News, NewsDog, and jagranjosh.com. Through her hard work and dedication, she has established herself as a top content writer and has become an inspiration for others in the field. Her success story serves as a testament to the growth and opportunities in the writing industry, making her a role model for aspiring writers.
Anant Ambani, the youngest son of India's richest man Mukesh Ambani, will be receiving a significant salary of up to ₹20 crore per year, according to a shareholder notice filed by Reliance Industries. This is in addition to perquisites and allowances, as well as a share of the company's net profits, which will be determined by a committee. Anant, who has a Bachelor's degree from Brown University, is leading the expansion of the company's energy and materials businesses and driving its goal to become a Net Carbon Zero company by 2035.
Hundreds of bike taxi riders in Karnataka have taken to the streets to protest the state government's ban on bike taxi services. The riders are facing financial struggles as they have been stripped of their source of livelihood. Despite submitting letters and staging protests, the government has not yet indicated any policy reversal. However, the Transport Minister has directed strict actions against ride-hailing apps and auto-rickshaw drivers for charging exorbitant rates.
The decision by India to ban the import of certain jute products and woven fabrics via land route has left Bangladeshi exporters reeling, as they say they are the "victims of politics". With the ban, exporting these products to India through sea route would result in a significant increase in cost, in addition to losing their upper hand in the jute export sector. This is the third such ban imposed by India on imports from Bangladesh in three months, causing further uncertainty and inconvenience for exporters.