business news

The Indian jewellery retail sector has witnessed a remarkable surge, growing from $50 billion in 2018 to an impressive $80 billion (Rs 666,480 crore) in the financial year 2024, as per a recent report by Motilal Oswal Financial Services. This substantial growth is attributed to several key drivers that have propelled the industry forward.

Abhishek Bachchan, renowned Bollywood actor, has recently made a substantial real estate acquisition in Mumbai's Borivali area, purchasing six apartments in the prestigious Oberoi Sky City project developed by Oberoi Realty. According to property registration documents accessed by Zapkey.com, the total investment amounts to a staggering ₹15.42 crore.

The Life Insurance Corporation of India (LIC) is reportedly considering a strategic move to sell a portion of its premium commercial buildings and land assets across the country, aiming to raise a substantial amount of $6-7 billion (₹50,043-58,384 crore), as per a recent report by Mint.

A human trafficking trial has commenced in Switzerland against four members of the billionaire Hinduja family, who stand accused of exploiting household staff at their villa on Lake Geneva. The trial unfolds amid allegations of passport confiscation, long working hours, and meager pay for the staff, prompting scrutiny and demands for justice.

An Air India passenger was alarmed to find a metal blade in his in-flight meal during a flight from Bengaluru to San Francisco. Mathures Paul, a journalist, shared his harrowing experience on social media, highlighting a significant lapse in the airline's catering service.

The Dubai Police General Command has recently announced the addition of the all-electric Tesla Cybertruck to its tourist police luxury patrol fleet. The Cybertruck, known for its futuristic design and cutting-edge technology, will now patrol the streets of Dubai alongside the department's impressive collection of high-performance vehicles.

Tata Consultancy Services (TCS), one of India's leading IT firms, is grappling with a significant skills gap, resulting in 80,000 unfilled job positions. This challenge is part of a broader slowdown in the IT sector, as reported by the Times of India.

The Reserve Bank of India (RBI) has levied significant fines on two banks for non-compliance with regulatory norms. The Central Bank of India has been fined ₹1.45 crore, while Sonali Bank PLC's Indian wing has incurred a penalty of ₹96.4 lakh. These fines were imposed due to violations related to customer protection and Know Your Customer (KYC) norms, according to a report by PTI.

A Southwest Airlines flight narrowly avoided a catastrophic crash off the coast of Hawaii, coming within just 400 feet of the ocean after aborting a landing due to adverse weather conditions. The incident, involving a Boeing 737 Max 8, occurred in April and has since drawn significant attention and an investigation by the Federal Aviation Administration (FAA).

German automaker Mercedes-Benz has reaffirmed its commitment to investing ₹3,000 crore in Maharashtra, according to state Industries Minister Uday Samant. This substantial investment is part of Mercedes-Benz's broader investment plans for India, which were initially announced in January.