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Business

Emerging Stocks Fall as Middle East Tensions Raise Oil Prices

Emerging-market stocks declined as Middle East tensions escalated, boosting oil prices and the dollar. The MSCI EM index dropped 1%, with South Korea's Kospi down 2%. Developing-nation currencies fell 0.1%, led by oil importers like Hungary. Iran increased attacks on tankers in the Strait of Hormuz, pushing Brent crude above $101 per barrel. India's rupee fell 0.3% after a modest rate hike by its central bank, disappointing traders.

Mint Markets·

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Business

RBI Rate Hike Impact on Bank Stocks: Analysts Weigh In

The Reserve Bank of India’s first rate hike in nearly four years has focused attention on banking stocks. Analysts are divided on the short-term impact on profit margins. Jefferies identifies large private banks like ICICI Bank and Kotak Mahindra Bank as key beneficiaries. Upcoming Q2 earnings reports are expected to provide insights into the sector’s future outlook.

ET Markets·

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Technology

Elon Musk Denies Starlink Use by Insurgents in Manipur

Elon Musk denied claims that insurgent groups in Manipur used Starlink satellite internet, stating that Starlink beams are turned off over India. He responded to reports of Indian security forces recovering Starlink terminals near the Myanmar border. Musk also accused certain oligarchs of blocking Starlink services in India to maintain a monopoly, highlighting the lack of 4G access in over 11,000 Indian villages.

Deccan Herald··Manipur

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Politics

Kentucky Donor Eric Deters Linked to Kimberly Guilfoyle's $100,000 Request

Eric Deters, a former trial lawyer from Kentucky and Ohio and a prominent Trump supporter, was reported by the Wall Street Journal to have been asked by Kimberly Guilfoyle, US ambassador to Greece, to pay a $100,000 credit card bill. Guilfoyle allegedly offered to use her Trump administration connections to assist Deters with IRS and DOJ matters. Deters had previously paid her $300,000 in speaking fees and sought her help with personal tax and legal issues. His net worth is not publicly known, but he is a 2024 Republican candidate for Kentucky's 4th Congressional District.

HT World·

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Business

Kurnool Commission Orders ICICI Lombard to Pay ₹50L Accident Claim

The Kurnool Consumer Commission ruled that ICICI Lombard must pay a Rs 50 lakh insurance claim initially denied due to alleged misrepresentation. The insurer failed to prove its denial, highlighting the need for accurate documentation in insurance claims for both policyholders and nominees.

Economic Times··Kurnool

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Entertainment

PM Modi and Leaders Pay Tribute to Nana Patekar After His Death

Nana Patekar, the acclaimed actor known for his intense and unique presence in Hindi and Marathi cinema, passed away at 75 due to cardiac arrest at his Goa residence on October 8. Prime Minister Narendra Modi and other political leaders, actors, and colleagues expressed their condolences. Medical efforts included 45 minutes of CPR, but he remained in asystole throughout. A medico-legal case has been completed.

Zee News Hindi··Goa

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