Trump's ‘mother of all bombs’ hit on Iran may be fireworks show

The government has announced a reduction in duty drawback rates for gold and silver jewellery exports. The rates for gold jewellery have decreased by 3.1% while silver jewellery rates have been cut by about 9%. Earlier in July, the government had nearly doubled these rates to enhance exporter competitiveness. The latest adjustments reflect ongoing fluctuations in global input costs and market conditions.

Gaurav Banerjee emphasized the need for India to create an AI-enabled creative stack during the CII Big Picture Summit. He suggested that collaboration among educators and technology companies is essential for developing future entertainment talent. Additionally, he highlighted the importance of evolving measurement and monetization systems as audiences shift between platforms. Banerjee also expressed the need for a more strategic approach to discovering and nurturing creative talent.

Nandan Nilekani emphasizes the importance of expanding the Account Aggregator framework to include self-employed individuals. He highlights the need for access to formal credit for gig workers and street vendors. By incorporating diverse financial information sources, the framework could better assess creditworthiness. Nilekani also stresses a sustainable business model for Account Aggregators to ensure sustainability. This expansion aims to create a more inclusive digital financial infrastructure in India.

Mahindra & Mahindra reported strong demand for its electric vehicles, which may reach 10,000 to 11,000 units monthly. Current production capacity for electric SUVs is around 8,000 units, which is expected to increase to 12,000 this financial year. The rise in petrol and diesel prices, along with improved charging infrastructure, is encouraging more customers to opt for electric vehicles.

The University of Liverpool inaugurated its first South India campus in Bengaluru on Thursday. This campus will allow local students to pursue international degrees without leaving Karnataka. Industries Minister MB Patil highlighted the importance of collaboration with local colleges and industries. Areas of joint research include artificial intelligence and clean energy, among others. More foreign universities are expected to establish campuses in the state, enhancing education and research opportunities.

An Air India flight from Frankfurt to Delhi was diverted to Jaipur after a hijack alert. The alert was later confirmed to be false after security checks. Civil Aviation Minister K Rammohan Naidu stated the need for a thorough investigation. He emphasized that changes to security norms would depend on the investigation's findings. DGCA is currently conducting the inquiry into the incident involving flight AI2030.

South Indian Bank is developing a proprietary tech platform to launch its credit card business next fiscal year. The bank aims to increase the share of retail, agriculture, and MSME loans to 65% from 61% in three years. A significant focus will be placed on growing income from RAM loans rather than lower-yielding corporate loans.