business news

The Centre has approved ₹944.80 crore as part of the central share from the State Disaster Response Fund (SDRF) for Tamil Nadu, following the destruction caused by Cyclone Fengal, which hit the region on November 30. The Ministry of Home Affairs (MHA) confirmed the release of the funds in two instalments to assist the state government in its relief efforts for the people affected by the cyclone.

Tamil film Maharaja, starring Vijay Sethupathi, has made a significant impact in China, earning approximately ₹16 crore (RMB 13.37 million) at the box office on its first day of release. The movie is the first Indian film to be screened in China following a diplomatic agreement to normalize ties between the two nations after their standoff in eastern Ladakh.

Amid the ongoing conflict with Ukraine, Russian President Vladimir Putin has approved a record-breaking budget for 2025, with $126 billion (13.5 trillion rubles) allocated to national defence. This represents 32.5% of the total government spending and is $28 billion higher than this year’s defence expenditure, according to a report by CNN.

Zepto CEO Aadit Palicha, in the midst of a viral Reddit post accusing his company of promoting a "toxic work culture," has posted remarks that have sparked a new debate on work-life balance in the startup world. Palicha, 22, seemed to mock the work-life balance concept, even as he attempted to address the controversy swirling around his company’s working hours.

The Indian Space Research Organisation (ISRO) is set to launch Europe’s Proba-3 mission on December 4, 2024, aimed at enhancing solar research and expanding our understanding of space weather. The launch will take place at ISRO’s Sriharikota spaceport in Andhra Pradesh, with the mission’s primary objective to study the Sun’s outer atmosphere, the corona, and its impact on space weather.

Intel Corporation announced the resignation of CEO Pat Gelsinger on December 1, marking the end of his tenure at the tech giant less than four years after his appointment. Gelsinger, a veteran of the company with a career spanning decades, stepped down following a directive from Intel's board to either retire or face removal.

In a rare and elite gathering at Mumbai's Soho House, Zomato CEO Deepinder Goyal hosted millionaire tech entrepreneur and anti-ageing enthusiast Bryan Johnson. The event, titled "Don't Die," focused on Johnson’s groundbreaking health initiative, Blueprint, which aims to reverse the ageing process through science and technology.

Flight tickets are expected to become more expensive following a hike in aviation fuel prices, announced by major oil companies. The price of aviation turbine fuel (ATF) has increased by ₹1,318 per kilolitre, marking a second consecutive rise after a ₹2,941.5 increase last month. The revised ATF prices now stand at ₹91,856.84 per kilolitre in Delhi, ₹94,551.63 in Kolkata, ₹85,861.02 in Mumbai, and ₹95,231.49 in Chennai. The new rates have come into effect immediately, further straining the aviation industry.

Vivek Oberoi, once considered one of Bollywood's rising stars, has defied expectations and transformed his career setbacks into a remarkable success story. Despite facing challenges in his acting career, Oberoi has built a business empire worth ₹1200 crore, surpassing the net worths of even some of Bollywood’s most successful actors like Ranbir Kapoor (₹350 crore) and Allu Arjun (₹340 crore).

The Reserve Bank of India (RBI) is expected to maintain the current repo rate of 6.5% during its final monetary policy committee (MPC) meeting of the year next week, according to HDFC Bank. The country's largest private sector bank, in a report, projected that the RBI would hold the repo rate steady, marking the 11th consecutive time since the last hike in February 2023.