Business

02

Oct

By The Press Editor

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Business

Elon Musk becomes first person ever to reach $500 billion net worth

Elon Musk has created history that will surprise you. He has become the first person in the world to have a net worth of nearly USD 500 billion. New York: Elon Musk has achieved yet another extraordinary milestone. On Wednesday, the Tesla CEO became the first person ever to reach a net worth of nearly $500 billion, according to Forbes. His fortune now stands at $500.1 billion, as tracked by Forbes’ Real-Time Billionaires tracker. Musk had previously crossed the $400 billion mark last December, becoming the first individual in history to reach that milestone. Musk is $150 billion ahead of runner-up Larry…

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02

Oct

By The Press Editor

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Business

Microsoft appoints Judson Althoff as new CEO of company’s commercial business unit: Who is he?

Microsoft has named Judson Althoff as CEO of its commercial business. This move enables Satya Nadella to focus more deeply on AI innovation and technical growth while Althoff spearheads sales, marketing and operations through a new commercial structure. New Delhi: Microsoft has elevated its Chief Commercial Officer (CCO) Judson Althoff to the position of Chief Executive Officer of its commercial business. The announcement was made on Wednesday. According to media reports, Althoff will lead a new structure that brings together sales, marketing, and operations into one organisation. The move is aimed at streamlining Microsoft's commercial efforts and driving further growth,…

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01

Oct

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Business

Cabinet approves 3% DA hike for central govt employees, pensioners: What this means for your wallet

DA Allowance: Following this increase, dearness allowance has increased from 55 per cent to 58 per cent of basic salary. New Delhi: The Union Cabinet has approved a 3 per cent hike in Dearness Allowance (DA) and Dearness Relief (DR) for central government employees and pensioners respectively.   "The Union Government has approved an increase in Dearness Allowance and Dearness Relief by 3 per cent, effective from July 1," said Union Minister Ashwini Vaishnaw. The decision is expected to benefit approximately 1.15 crore central government employees and pensioners.  It must be noted that the DA and DR are very important components…

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01

Oct

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Business

Axis Bank launches India’s first gold-backed credit line accessible through UPI: Details

Axis Bank customers can avail this programme at all branches that give gold loans, without even the need to visit the branch. New Delhi: Axis Bank, in collaboration with Freecharge, has unveiled Credit on UPI with Gold Loans - India’s first gold-backed credit line accessible through the Unified Payments Interface (UPI). According to the lender, the product is designed to unlock the economic potential of gold assets, especially for micro, small and medium enterprises (MSMEs), self-employed entrepreneurs and merchants across both urban and rural India. Instant gold-backed credit via UPI In a partnership with Freecharge, Axis Bank has launched credit…

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01

Oct

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Business

MahaMetro starts building Maharashtra’s longest balanced cantilever bridge on Vena River

The upcoming corridor is estimated to incur a cost Rs 378 crore, of which Rs 45 crore has been kept aside for the bridge alone. Mumbai: In a major boost to Nagpur Metro, the MahaMetro has started the construction work of Maharashtra’s longest balanced cantilever (CLC) bridge. The upcoming stretch will cross the Vena River, serving as part of the Hingna corridor under Metro Phase-2.  According to a Times of India report, the 271 metre bridge has been designed to go 16 metres above the existing road bridge. The bridge will be built without intermediate piers, as it will use…

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01

Oct

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Business

Navi Mumbai Airport gets official DGCA nod, to be inaugurated on this date

NMIA has been built with an aim to ease pressure at Mumbai’s existing airport. It is also expected to strengthen regional and international connectivity. Mumbai: In a significant feat for Navi Mumbai International Airport (NMIA), the airport has received its Aerodrome Licence from the Directorate General of Civil Aviation (DGCA). The development comes ahead of the scheduled inauguration on October 8 by Prime Minister Narendra Modi. This licence is significant as it is essential for commencing operations.  Once it gets the license, the NMIA is authorised to be used as a regular place of landing and departure for all aircraft…

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01

Oct

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Business

Dussehra 2025: Will banks remain open or shut tomorrow? Check details

Several bank branches across the country will remain closed on October 2, 2025, on account of Dussehra, Gandhi Jayanti, and other regional festivals. New Delhi: The month of October brings with itself the festive season with people interested to know about the holidays in the upcoming months. Notably, bank branches across the country will remain closed on October 2, 2025, on account of Dussehra, Gandhi Jayanti, and other regional festivals.    The closures come as part of the Reserve Bank of India’s scheduled holiday calendar. The calendar contains the national and state-specific holidays.   Banks remained closed on October…

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01

Oct

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Business

Delhi-Gurgaon highway gets mega upgrade, elevated corridor to cut down traffic chaos details

According to initial estimation, the elevated corridor is expected to be a 20-km-long stretch and likely to incur a cost of Rs 5,000 crores. However, the final cost can be reached once the project report is ready. New Delhi: In its bid to decongest the Delhi-Gurugram highway (NH-48), the Mehrauli-Gurgaon Road, and the two ring roads, the National Highways Authority of India (NHAI) has initiated planning work for the construction of an elevated corridor connecting AIIMS to the Mahipalpur bypass and the Gurugram-Faridabad Road. According to officials, the NHAI invited bids on Wednesday for a firm to be tasked with…

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01

Oct

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Business

Mukesh Ambani tops Hurun India Rich List 2025, Roshini Nadar becomes richest woman

HCL Technologies Chairperson Roshni Nadar Malhotra and her family have made it to the top three for the first time. Her wealth is estimated at Rs 2.84 lakh crore, making her India's richest woman. New Delhi: Reliance Industries Chairman Mukesh Ambani has reclaimed the spot of India’s richest man, with family wealth pegged at Rs 9.55 lakh crore (USD 105 billion). According to the 14th edition of the M3M Hurun India Rich List 2025, Gautam Adani is at the second spot with a total worth of Rs 8.15 lakh crore. Meanwhile, this year's list has a major surprise. HCL Technologies…

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01

Oct

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Business

Stock under Rs 50 in focus as company approves allotment of 50 lakh convertible warrants – Details

The company has informed exchanges that its board has considered and approved the allotment of equity shares on conversion of 50,00,000 warrants in equivalent equity shares of face value of Re 1 each at an issue price of Rs 23.75. Mumbai: Shares of small-cap stock Bhatia Communications & Retail (India) Limited jumped over 5 per cent in intra-day trading on Wednesday, October 1, 2025, as the company has informed exchanges that its board has approved the allotment of equity shares on conversion of 50,00,000 warrants. The stock opened flat at Rs 29.74 on the BSE but later surged 5.71 per…

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