Geopolitical risk returned to markets this month helping the US dollar to hit a 10-week high before it gave up some gains.

The German and New Zealand general elections resulted in a hung Parliament, pro-Independence referendums in Catalonia (Spain) and Kurdistan (Iraq) strengthened separatist forces, snap polls were announced in Japan (October 22) while the anti-Theresa May lobby in the Conservative Party threatened a coup.

Prime Minister Narendra Modi laid foundation stone for Hindustan Petroleum Corporation Ltd’s MDPL Capacity Expansion and PVPL Extension Project in Vadodara on Sunday. The total approved project cost is Rs 1,879 crore out of which Rs 1,769 crore will be invested in Gujarat. The project is slated for completion by June 2020.

This pipeline project of HPCL will facilitate uninterrupted supply of petroleum products to meet growing market demand for petrol, diesel etc in Gujarat, Eastern Maharashtra and other parts of central India. It will provide safe, environment friendly and cost efficient transportation of petroleum products to these areas.

The loss-making Air India is likely to relook into some existing key contracts with its suppliers, including aircraft lessors and engine makers, as it seeks to trim costs ahead of stake sale by the government.

Air India chief Rajiv Bansal, who has been working on ways to improve the airline's on time performance (OTP) and prune costs on various fronts, has set up a task force comprising four teams to put together a strategy before engaging with vendors, according to a source.

ONGC has drawn a blueprint to raise crude oil production by 4 million tonnes (mt) and almost double its natural gas output by 2020 to meet Prime Minister Narendra Modi’s target of cutting India’s import dependence by 10 per cent, Chairman Shashi Shanker has said.

The state-owned firm will raise crude oil production from 22.6 mt in 2017-18 to 26.42 mt in 2021-22.

Powered by Microsoft's digital assistant Cortana,the "Invoke" smart speaker will be available starting October 22, the software giant and Samsung subsidiary Harman Kardon have announced.

"The Harman Kardon 'Invoke', Microsoft's answer to Amazon Echo and Google Home, will be available October 22", The Fortune reported late on Friday.

At a time when customers are rushing to link all their bank accounts with Aadhaar, the Reserve Bank of India (RBI) on Saturday clarified that it never issued any such directions and it was the decision of the Indian government.

The apex bank further clarified that in applicable cases, linkage of Aadhaar number to a bank account is mandatory under the Prevention of Money-laundering (Maintenance of Records) Second Amendment Rules, 2017.

Stockholm: Sweden’s AB Volvo reported a bigger-than-expected rise in quarterly core earnings on Friday, as a broad upturn in demand for heavy trucks more than offset costs stemming from a strained supply chain.

Sweden’s biggest manufacturer by sales also raised its outlook for truck markets on both sides of the North Atlantic this year and forecast a further strong recovery in industry-wide sales of commercial vehicles in North America in 2018.

Demand for economy segment motorcycles — an indicator of the demand scenario in the rural market — is again on the rise in the first six months of the current financial year after staying subdued in the last three fiscals due to inadequate rainfall, the adverse impact of the demonetisation move and a ban imposed by the Supreme Court over the sale of BS III vehicles. In April-August, most of the Hero MotoCorp and TVS Motor offerings in the segment showed an improvement.

HYDERABAD: GMR Hyderabad International Airport has announced raising $350 million, or about Rs 2,276 crore, in the international bond market, reflecting the third consecutive US dollar bond offering by GMR Group.

GMR Hyderabad International Airport (GHIAL), a subsidiary of GMR Airports and step down subsidiary of GMR Infrastructure, in a statement on Friday said it plans to entirely refinance the outstanding rupee term loans and external commercial borrowings, apart from deploying them towards partial funding of proposed capital expenditure.

According to a report by the Lancet Commission on Pollution and Health, released October 19, India tops the world in pollution-related deaths, accounting for 2.5 million of the total 9 million worldwide in 2015. The biggest increases in such related deaths have been recorded in India and Bangladesh.

Filthy air is the primary cause. India accounted for 28% of the 6.5 million air-pollution-linked deaths worldwide in 2015.

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