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BusinessPhoto: Amar Business

India Revises Windfall Tax on Fuel Exports; Supreme Court Rejects Yes Bank Bond Write-Off

The Indian government increased the windfall gain tax on petrol exports to ₹2.5 per litre and reduced it on diesel exports from ₹16 to ₹8.5 per litre, effective October 16. Aviation turbine fuel tax remains unchanged. Separately, the Supreme Court rejected Yes Bank's ₹8,415 crore AT-1 bond write-off, upholding Bombay High Court's ruling that deemed the write-off illegal. Yes Bank shares fell 20% following the verdict.

Amar Business·

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HealthPhoto: HT Health

Orthopaedician Warns Against Carrying Bags on One Shoulder

On World Spine Day, Dr. Pradeep Kumar Singh, senior orthopaedics consultant at Dr L H Hiranandani Hospital, Mumbai, explained that carrying bags on the same shoulder daily can negatively impact posture and cause musculoskeletal issues. While it may not cause serious spinal damage, this common habit can contribute to spinal discomfort and should be avoided to prevent long-term problems.

HT Health··Mumbai

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BusinessPhoto: Economic Times

Netflix Appoints Ex-Disney Exec Peter Rice as Chief Content Officer

Netflix has named Peter Rice, formerly of Disney, as its new chief content officer starting October 26. He will oversee the platform's content strategy, including series and films. Bela Bajaria, who held the role since January 2023, is leaving. This change follows Netflix's recent layoff of about 1,000 employees, a 6% workforce cut.

Economic Times·

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PoliticsPhoto: News18 Hindi

Amethi's Gauriganj Municipality Transformed with Parks and Roads

Gauriganj Municipality in Amethi, established in 2015, has seen significant development over 11 years. Improvements include wide roads, parks, Amrit Sarovar, and drainage systems. A high-tech upgrade is planned. In Vishundaspur ward, an Amrit Udyan park is being developed with a selfie point, involving crores of rupees in investment.

News18 Hindi··Gauriganj

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WorldPhoto: Hindustan Times

India and Australia Enhance Cooperation in Tribal Art and Culture

India and Australia are working to strengthen cultural ties through tribal art, indigenous performing arts, language preservation, and traditional knowledge. Discussions between Ranjana Chopra, Secretary of the Ministry of Tribal Affairs, and Australian High Commissioner Philip Green focused on bilateral engagement via tribal artists and artisans. Plans include exhibitions, cultural showcases, and cross-cultural exchanges to promote indigenous traditions and increase visibility for tribal communities in both countries.

Hindustan Times·

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BusinessPhoto: Economic Times

Fairfax to Cut IDBI Stake to 26% Over 15 Years

Fairfax Financial Holdings will acquire a 60.72% stake in IDBI Bank and has been permitted by the Reserve Bank of India to reduce its ownership to 26% over 15 years. Fairfax also has two years to decide on the future of CSB Bank, considering merger or sale options. The group plans to transform IDBI Bank into a full-service financial entity.

Economic Times·

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