business news

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.

Volkswagen India is under investigation for allegedly evading taxes worth $1.4 billion (₹11,842 crore), as the Centre issued a show-cause notice for the alleged misclassification of imports to avoid higher import duties. According to a report by Reuters, the notice was issued on Friday, alleging that Volkswagen's India unit, Skoda Auto Volkswagen India, had been mis-declaring and mis-classifying parts of its cars, including luxury models like Audi A4, Q5, Skoda Superb, and Tiguan SUV, to evade tax payments.

Zerodha CEO Nithin Kamath has voiced concerns over the growing menace of financial frauds after a Bengaluru-based techie lost ₹91 lakh in a stock market scam. The alarming incident is a stark reminder of the increasing prevalence of cybercrimes, with over ₹11,000 crore reportedly lost to scams in the past nine months alone.

Railway Minister Ashwini Vaishnaw on Friday praised the new Pamban bridge in Rameswaram, Tamil Nadu, calling it a "modern engineering marvel." The bridge, India's first vertical lift railway sea bridge, will replace the existing 105-year-old Pamban Rail Bridge, which had been in operation since 1914. The new structure is set to enhance connectivity, boost tourism, and support high-speed train services.

Air India has announced a significant enhancement to its services, with the deployment of its top narrowbody aircraft on five key metro routes starting from December. The move follows the recent merger of Vistara into Air India, which is expected to improve the airline's customer offerings and operational efficiency.