Reliance Jio has announced India's first satellite-based giga fiber service to provide high-speed broadband to previously inaccessible geographies within the country. Reliance Jio Infocomm Chairman Akash Ambani showcased the JioSpaceFiber technology to Prime Minister Narendra Modi at the seventh edition of the India Mobile Congress on Friday.

The move will intensify the race to provide satellite broadband services in India, with JiosSpaceFiber set to compete with Bharti-backed- satcom operator OneWeb.

Union Bank of India’s net profit for the quarter ended September (Q2FY24) grew by 90 per cent year-on-year (Y-o-Y) to Rs 3,511 crore, aided by over a 12 per cent rise in other income and a dip in provisions for bad loans. Sequentially, the public-sector lender’s profit went up 8.5 per cent from Rs 3,236 crore in the quarter ended June (Q1FY24).

Its stock closed 5.5 per cent higher at Rs 99.95 a share on BSE. The bank announced results after the close of trading hours.

Prime Minister Narendra Modi will distribute more than 51,000 appointment letters to recruits on Saturday as part of the government's Rozgar Mela drive and also address them though video-conferencing.

Rozgar Mela will be held at 37 locations across the country. A statement said recruitments are taking place across central government departments as well as in those states and Union Territories supporting this initiative.

Maruti Suzuki India (MSIL) posted its highest consolidated net profit of Rs 3,764.2 crore during the second quarter of 2023-24 (FY24). This comes in the backdrop of its highest-ever quarterly sales, a softening of commodity prices, cost reduction efforts, and favourable foreign exchange rates In Q2 of FY24, the company’s net profit increased by 78.2 per cent compared to the same period last year when it was Rs 2,112.50 crore.

India’s largest carmaker reported a 6.3 per cent year-on-year (Y-o-Y) increase in domestic passenger vehicle (PV) sales, at 482,731 units, in Q2 of FY24.

How much time should one devote to work? Do long working hours mean more productivity? How important is the work-life balance in fostering creativity? India Inc seemed to be divided on such questions after Infosys founder Narayana Murthy suggested a 70-hour work week for “youngsters” to make the country competitive globally.

While some corporate leaders endorsed Murthy’s “sane advice” at a time when “we are in a nation-building stage”, others said productivity was not linked to hours employees put in.

The U.N. General Assembly scheduled a vote Friday on a nonbinding resolution calling for a humanitarian truce in Gaza leading to a cessation of hostilities between Israel and Gaza's Hamas rulers.

Jordan's U.N. Ambassador Mahmoud Hmoud, speaking on behalf of the U.N.'s 22-nation Arab group, which drafted the resolution, called for an afternoon vote before all 112 speakers get to the assembly's rostrum, because of the urgency of taking action.

The US economy grew at the fastest pace in nearly two years last quarter, fuelled by a surge in consumer spending.

Gross domestic product accelerated to a 4.9 per cent annualised rate, more than double the second-quarter pace, according to the government’s preliminary estimate Thursday. The economy’s main growth engine — personal spending — jumped 4 per cent, also the most since 2021.

Ola Electric announced that it has secured about Rs 3,200 crore in funding as part of its equity and debt round. This funding was obtained from Temasek-led marquee investors and project debt from State Bank of India. The funding round, which includes equity, has raised the Bengaluru-based firm’s valuation to $5.5 billion, up from its previous valuation of $5 billion, according to sources.

The funds raised are expected to create an interim event and pave the way for an initial public offering (IPO), which may be in the range of $800 million to $1 billion.

The price of 24-carat gold jumped Rs 160 in early trade on Thursday, with ten grams of the precious metal selling for Rs 61,960, according to the GoodReturns website. The price of silver saw an increase of Rs 500, with one kilogram of the precious metal selling at Rs 75,100.

The price of 22-carat gold also rose by Rs 150, with the yellow metal selling at Rs 56,800.

Hamas’s armed wing on Thursday said that ‘almost 50’ Israeli hostages held by its operators in the Gaza Strip have been killed since Israel began bombarding the Palestinian territory. “(Ezzedine) Al-Qassam Brigades estimates that the number of Zionist prisoners who were killed in the Gaza Strip as a result of Zionist strikes and massacres has reached almost 50,” the group said in a statement issued on its Telegram channel.

Late on Wednesday, Russia and China vetoed a US push for the United Nations Security Council (UNSC) to act on the Israel-Hamas conflict by calling for pauses in fighting to allow humanitarian aid access, the protection of civilians and a stop to arming Hamas and other militants in the Gaza Strip.

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