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BusinessPhoto: FirstpostZoho founder Sridhar Vembu announced no salary increases this year due to soaring AI-related expenses and a fourfold rise in server costs. He warned of a bleak outlook for software jobs and dismissed universal basic income as a dystopian idea. Vembu apologized for the decision, highlighting the financial pressures facing the company.
Firstpost·
BusinessPhoto: News18 BusinessThe IMF has upgraded India's GDP growth forecast to 7% for both 2026 and 2027, up from earlier estimates of 6.4% and 6.7%, respectively. This revision reflects strong domestic demand and services activity despite high oil prices and geopolitical risks. India's Q1 FY27 GDP grew 7.8%, and the RBI also raised its FY27 growth forecast to 7.1%. Globally, growth is projected at 3.1% in 2026 and 3.4% in 2027 with inflation at 4.7%.
News18 Business·
BusinessPhoto: ET MarketsThe Rs 712.31-crore HD Fire Protect IPO opened today, consisting entirely of an offer for sale (OFS) of 2.63 crore equity shares. Since the issue is only an OFS, the company will not receive any proceeds; all funds raised will go to the selling shareholders. Market sentiment indicates a 30% gain upon listing.
ET Markets·
BusinessPhoto: Business StandardOn October 13, 2026, the GIFT Nifty indicated a slightly higher opening for Nifty50 despite negative global cues, with futures at 22,408.50, up 22 points. Asia-Pacific markets fell sharply, led by South Korea's Kospi dropping over 6%. Japan's Nikkei 225 and Hong Kong's Hang Seng also declined. Brent crude fell below $106 amid diesel supply concerns from Russia. Key Q2 earnings from Anand Rathi, GTPL Hathway, Hero Motors, ICICI Prudential, and Transformers and Rectifiers are expected today.
Business Standard·
PoliticsPhoto: News18Delhi Police has requested the Ministry of Home Affairs to extend the deployment of 273 Central Armed Police Force companies in the capital until October 20, citing potential intensified protests and law-and-order challenges. The letter dated October 12, 2026, notes that 301 CAPF companies were initially sanctioned until October 12. Intelligence warns of escalated protests by the Cockroach Janta Party and others demanding the Chief Election Commissioner's resignation.
News18··Delhi
PoliticsPhoto: Economic TimesUS President Donald Trump condemned the Houthi rebels for recent attacks on Saudi Arabian targets, calling their actions misbehavior. He indicated that Washington might consider military cooperation with Saudi Arabia. The Houthis have targeted key airports, causing deadly incidents recently. Saudi authorities intercepted attacks on military bases and urged residents to stay alert amid ongoing regional tensions and diplomatic efforts in Yemen.
Economic Times·
Firstpost·
Photo: FirstpostZoho founder Sridhar Vembu announced no salary increases this year due to soaring AI-related expenses and a fourfold rise in server costs. He warned of a bleak outlook for software jobs and dismissed universal basic income as a dystopian idea. Vembu apologized for the decision, highlighting the financial pressures facing the company.
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