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BusinessPhoto: Amar Business

Jefferies Suggests LTCG Tax Cut to Attract Foreign Investors

Jefferies, a global brokerage firm, suggests the Indian government could revive the stock market by cutting the Long Term Capital Gains (LTCG) tax. They propose three options: reducing LTCG tax for all investors, special cuts for Foreign Portfolio Investors (FPIs), or calculating FPI capital gains in dollars. This could boost foreign investment, strengthen the rupee, and benefit sectors hit by $59 billion FPI sell-offs in two years. However, the government faces a trade-off as LTCG tax and Securities Transaction Tax (STT) contributed significantly to revenue in 2024-25.

Amar Business·

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EntertainmentPhoto: TOI Entertainment

Elke Sommer, 1960s Hollywood Actress, Dies at 85

Elke Sommer, a renowned actress famous for her roles in 1960s Hollywood comedies and espionage films, has passed away at 85. Born Elke Schletz in Berlin during World War II, she gained fame working with stars like Paul Newman and in the Italian film industry. Sommer was celebrated for her versatile performances in major films of that era.

TOI Entertainment·

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BusinessPhoto: Firstpost Business

Indian Defence Firm Plans 1,000-km Strike Drone Production in Oman

Noida-based IG Defence is exploring manufacturing its 1,000-km-range attack drone and counter-drone systems in Oman to expand in the Gulf market amid regional tensions. It signed an MoU with Oman’s MSA Global LLC to co-develop and localize three indigenous defence platforms: KAL (long-range attack UAS), BAJ (drone interceptor), and JWALA (micro-missile system). The technology and IP remain Indian-owned and designed.

Firstpost Business··Noida

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WorldPhoto: Firstpost World

4 Killed, 11 Injured in Italian Helicopter Crash in Bosnia

An Italian military helicopter crashed in Gorice village, Brcko district, Bosnia, killing four and injuring 11 during an EU peacekeeping mission. The fatalities included two Italian Army personnel and two Italian Red Cross volunteers. All 11 survivors received medical treatment with no critical conditions reported. Italy's Defence Ministry has launched an investigation into the crash cause. Italian Defence Minister Guido Crosetto expressed condolences to the families.

Firstpost World··Brcko

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TechnologyPhoto: Hindu Tech

Meta Updates Rules Allowing Broad Web Scraping from October 30

Meta will implement new Commercial Terms on October 30, permitting its bots and crawlers to access any website linked to a business account on its platform. This change enables Meta to conduct extensive data scraping and potentially use the collected content to train its AI models, raising concerns among businesses, publishers, and news organizations.

Hindu Tech·

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BusinessPhoto: Mint Markets

JPMorgan Sees Yuan Gaining 10% Amid Global Expansion

JPMorgan Asset Management forecasts the Chinese yuan could appreciate by at least 10% in real effective exchange-rate terms as China steadily internationalizes its currency. Despite a weak economy and lower interest rates, the yuan's offshore value has risen nearly 5% against the dollar this year, supported by strong exports and Beijing's efforts to boost global renminbi use, says CIO Julio Callegari.

Mint Markets·

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