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China has officially accused the United States of orchestrating a scheme to steal $14 billion worth of Bitcoin, allegedly one of the largest cryptocurrency thefts in history. The claim marks the latest twist in the long-running saga of the LuBian crypto mining pool. What really happened, and how is the whole story related to the ‘pig butchering scam’ and the baby-faced crypto entrepreneur Chen Zhi? Here is what you should know.<h2>The hack of LuBian</h2>LuBian was a China-based Bitcoin mining pool that reportedly operated facilities in both China and Iran. In December 2020, it was hit by a major cyberattack in which an estimated 127,426 Bitcoins were stolen. According to blockchain analysts, the cryptocurrency—worth about $3.5 billion at the time—is now valued at roughly $14 billion. The attackers allegedly drained LuBian’s “hot wallets” by exploiting vulnerabilities in its private key management system and possibly using zero-day exploits. Following the breach, LuBian’s operations quickly declined, and by early 2021, the mining pool went largely offline.Also read: <a href="https://www.wionews.com/trending/chinese-crypto-queen-in-london-she-duped-thousands-of-china-s-elderly-fled-to-the-uk-with-billions-and-got-caught-1762850563158">Chinese Crypto Queen in London: She duped thousands of China’s elderly, fled to the UK with billions – and got caught</a><h2>China’s fresh accusation of US involvement in the LuBian hack</h2>On Tuesday (Nov 11), the Chinese National Computer Virus Emergency Response Centre (CVERC) publicly accused the US government of being behind the 2020 LuBian hack. In an official report, CVERC claimed that the operation was a “state-level theft” carried out by American intelligence agencies using advanced hacking tools similar to those used in operations such as Stuxnet—the joint US-Israeli cyberattack that targeted Iran’s nuclear programme in 2010. According to CVERC, US agencies infiltrated LuBian’s systems, stole the Bitcoin, and kept the funds dormant until 2024. That year, the US Department of Justice (DOJ) seized nearly the same amount—127,271 BTC—as part of a criminal forfeiture case linked to Cambodian businessman Chen Zhi. At the time, it was described as the largest cryptocurrency forfeiture in US history.CVERC argued that the DOJ’s seizure was an attempt to legitimise the stolen funds, framing the move as “thieves recovering their own loot”.&nbsp;Also read: <a href="https://www.wionews.com/trending/remains-of-russian-crypto-millionaire-and-wife-found-buried-in-uae-desert-after-attempted-loot-1762917676726">Russian thugs dismember and bury crypto millionaire and wife after finding their crypto wallets were empty</a><h2>Who is Chen Zhi, and what is his crime?</h2>Chen Zhi is the founder of the Prince Group conglomerate. The US maintains that the 2024 Bitcoin seizure was lawful, as it was the wallet owned by Chen Zhi's group inside the LuBian mining pool. US court documents accused Chen Zhi of running a $6 billion global investment fraud through a company called EZ Blockchain, selling fake crypto mining equipment and laundering the proceeds. Chen is reportedly a fugitive and remains wanted by US authorities.<a href="https://www.wionews.com/videos/trump-praises-bitcoin-s-role-in-supporting-dollar-stability-1762493927574/embed">https://www.wionews.com/videos/trump-praises-bitcoin-s-role-in-supporting-dollar-stability-1762493927574/embed</a><h2>How the LuBian case is linked to the ‘pig butchering scams’</h2>Investigators alleged that Chen Zhi’s operations may have overlapped with the so-called “pig butchering” scams. These are online fraud schemes in which victims are encouraged to invest in fake cryptocurrency platforms before being “slaughtered”, when their funds vanish. US prosecutors alleged that parts of Chen’s network promoted fraudulent mining investments similar to those used in pig butchering scams. They allegedly funnelled proceeds through LuBian to obscure their origins. If true, this would mean the same infrastructure tied to the LuBian hack also helped launder funds from global crypto scams across Asia, Europe and North America.Also read: <a href="https://www.wionews.com/business-economy/why-are-crypto-markets-falling-1760706709071">Why are crypto markets falling? Explained</a><h2>Crypto, cyberwarfare, crime and global politics: Why the LuBian case is important</h2>The LuBian dispute highlights how cryptocurrency, geopolitics, and cyberwarfare increasingly intersect. China sees the alleged hack as part of a broader US effort to undermine its economic and technological influence, while the US portrays its actions as legitimate law enforcement against international fraud. Blockchain analysts say the wallets seized by the DOJ match those from the 2020 hack, but there is no independent evidence linking the breach to US intelligence agencies. The incident underlines how cryptocurrencies have become a new front in global power struggles.

China has accused the US of stealing $14 billion worth of Bitcoin from the LuBian mining pool. LuBian is linked to Chen Zhi, a fugitive entrepreneur accused of fraud and 'pig butchering scams'. Know more about the fascinating saga of cyberwarfare and geopolitical tensions over cryptocurrency.


China has officially accused the United States of orchestrating a scheme to steal $14 billion worth of Bitcoin, allegedly one of the largest cryptocurrency thefts in history. The claim marks the latest twist in the long-running saga of the LuBian crypto mining pool. What really happened, and how is the whole story related to the ‘pig butchering scam’ and the baby-faced crypto entrepreneur Chen Zhi? Here is what you should know. The hack of LuBian LuBian was a China-based Bitcoin mining pool that reportedly operated facilities in both China and Iran. In December 2020, it was hit by a major cyberattack in which an estimated 127,426 Bitcoins were stolen. According to blockchain analysts, the cryptocurrency—worth about $3.5 billion at the time—is now valued at roughly $14 billion. The attackers allegedly drained LuBian’s “hot wallets” by exploiting vulnerabilities in its private key management system and possibly using zero-day exploits. Following the breach, LuBian’s operations quickly declined, and by early 2021, the mining pool went largely offline. Also read: Chinese Crypto Queen in London: She duped thousands of China’s elderly, fled to the UK with billions – and got caught China’s fresh accusation of US involvement in the LuBian hack On Tuesday (Nov 11), the Chinese National Computer Virus Emergency Response Centre (CVERC) publicly accused the US government of being behind the 2020 LuBian hack. In an official report, CVERC claimed that the operation was a “state-level theft” carried out by American intelligence agencies using advanced hacking tools similar to those used in operations such as Stuxnet—the joint US-Israeli cyberattack that targeted Iran’s nuclear programme in 2010. According to CVERC, US agencies infiltrated LuBian’s systems, stole the Bitcoin, and kept the funds dormant until 2024. That year, the US Department of Justice (DOJ) seized nearly the same amount—127,271 BTC—as part of a criminal forfeiture case linked to Cambodian businessman Chen Zhi. At the time, it was described as the largest cryptocurrency forfeiture in US history. CVERC argued that the DOJ’s seizure was an attempt to legitimise the stolen funds, framing the move as “thieves recovering their own loot”. Also read: Russian thugs dismember and bury crypto millionaire and wife after finding their crypto wallets were empty Who is Chen Zhi, and what is his crime? Chen Zhi is the founder of the Prince Group conglomerate. The US maintains that the 2024 Bitcoin seizure was lawful, as it was the wallet owned by Chen Zhi's group inside the LuBian mining pool. US court documents accused Chen Zhi of running a $6 billion global investment fraud through a company called EZ Blockchain, selling fake crypto mining equipment and laundering the proceeds. Chen is reportedly a fugitive and remains wanted by US authorities. https://www.wionews.com/videos/trump-praises-bitcoin-s-role-in-supporting-dollar-stability-1762493927574/embed How the LuBian case is linked to the ‘pig butchering scams’ Investigators alleged that Chen Zhi’s operations may have overlapped with the so-called “pig butchering” scams. These are online fraud schemes in which victims are encouraged to invest in fake cryptocurrency platforms before being “slaughtered”, when their funds vanish. US prosecutors alleged that parts of Chen’s network promoted fraudulent mining investments similar to those used in pig butchering scams. They allegedly funnelled proceeds through LuBian to obscure their origins. If true, this would mean the same infrastructure tied to the LuBian hack also helped launder funds from global crypto scams across Asia, Europe and North America. Also read: Why are crypto markets falling? Explained Crypto, cyberwarfare, crime and global politics: Why the LuBian case is important The LuBian dispute highlights how cryptocurrency, geopolitics, and cyberwarfare increasingly intersect. China sees the alleged hack as part of a broader US effort to undermine its economic and technological influence, while the US portrays its actions as legitimate law enforcement against international fraud. Blockchain analysts say the wallets seized by the DOJ match those from the 2020 hack, but there is no independent evidence linking the breach to US intelligence agencies. The incident underlines how cryptocurrencies have become a new front in global power struggles.

China has accused the US of stealing $14 billion worth of Bitcoin from the LuBian mining pool. LuBian is linked to Chen Zhi, a fugitive entrepreneur accused of fraud and 'pig butchering scams'. Know more about the fascinating saga of cyberwarfare and geopolitical tensions over cryptocurrency

China accuses US of $14 billion Bitcoin theft: How is LuBian hack linked to 'pig butchering scam' and Chen Zhi?

Huawei is banned in the US, and the European Union is pushing for a ban on its mobile networks. Henna Virkkunen, the Vice President for the European Commission of Technological Sovereignty, Security, and Democracy, has decided that the member nations of the European Union should phase out high-risk vendors, such as Huawei and ZTE. Already banned in the United States, a Chinese state-funded company faces extreme hostility from the West. In 2019, the US blacklisted Huawei on the pretence of national security, citing that Huawei's telecommunication device contains a 'backdoor' which enables surveillance by the Chinese Government.&nbsp;<h2>Why is the West hostile towards Huawei?</h2>On the surface, the US claims that Huawei is a state-funded company, and China's National Intelligence Law 2017 binds state companies with the government in intelligence operations. But since the revelations by Edward Snowden, a National Security Intelligence contractor and whistleblower, the level of spying by the US government, both within the country and overseas, is appalling. From data access on major online platforms to snooping on phones of at least 35 world leaders from countries like Brazil, France, Mexico, the UK, China and Germany. Notably, the former Chancellor of Germany, Angela Merkel, said that ‘spying among friends’ was unacceptable. Snowden was charged with violation of the Espionage Act of 1917. He is now living in exile in Russia.&nbsp;&nbsp;Contrastingly, when faced with a spying allegation in 2010, Huawei opened a review centre in the UK called Huawei Cyber Security Evaluation Centre, which allowed &nbsp;UK government security officials access to Huawei's technology for review. But it changed nothing; in reality, West doesn't want the dominance of a Chinese company, which is effectively run by its employees. &nbsp;151,796 current and former workers jointly run the company on an employee share ownership plan. Huawei shares are not publicly traded, and it makes individual payouts to employees annually. So no one can buy out the company or control it, and it's more innovative and successful than Western brands. &nbsp;For 2024, Huawei paid $10 billion in dividends to its employees. This is a stark contrast to companies like Apple and Alphabet, which have aggressive share buyback policies to keep the share prices higher. In 2024, Apple spent $110 billion and Alphabet spent $70 billion in share repurchases. Huawei CEO Ren Zhengfei considers this share buyback a wasteful model. In 2024, Huawei invested nearly 20.8 per cent, approximately $25 billion of its total revenue in research and development. Despite the US sanctions, Huawei is now leading the market in telecommunications and 5G technologies. It holds over 150,000 active patents and is the largest smartphone company in 2024. In reality, Huawei's success threatens the corporate ownership model sold by the US; so the agenda of ostracising Huawei, which shows the free market is free until Western companies stay on top.&nbsp;&nbsp;&nbsp;

Huawei faces bans in the US and Europe over alleged security risks. But is it really about national security or Western fear of losing tech dominance to China’s employee-owned giant?

Huawei is banned in the US, and the European Union is pushing for a ban on its mobile networks. Henna Virkkunen, the Vice President for the European Commission of Technological Sovereignty, Security, and Democracy, has decided that the member nations of the European Union should phase out high-risk vendors, such as Huawei and ZTE. Already banned in the United States, a Chinese state-funded company faces extreme hostility from the West. In 2019, the US blacklisted Huawei on the pretence of national security, citing that Huawei's telecommunication device contains a 'backdoor' which enables surveillance by the Chinese Government. Why is the West hostile towards Huawei? On the surface, the US claims that Huawei is a state-funded company, and China's National Intelligence Law 2017 binds state companies with the government in intelligence operations. But since the revelations by Edward Snowden, a National Security Intelligence contractor and whistleblower, the level of spying by the US government, both within the country and overseas, is appalling. From data access on major online platforms to snooping on phones of at least 35 world leaders from countries like Brazil, France, Mexico, the UK, China and Germany. Notably, the former Chancellor of Germany, Angela Merkel, said that ‘spying among friends’ was unacceptable. Snowden was charged with violation of the Espionage Act of 1917. He is now living in exile in Russia. Contrastingly, when faced with a spying allegation in 2010, Huawei opened a review centre in the UK called Huawei Cyber Security Evaluation Centre, which allowed UK government security officials access to Huawei's technology for review. But it changed nothing; in reality, West doesn't want the dominance of a Chinese company, which is effectively run by its employees. 151,796 current and former workers jointly run the company on an employee share ownership plan. Huawei shares are not publicly traded, and it makes individual payouts to employees annually. So no one can buy out the company or control it, and it's more innovative and successful than Western brands. For 2024, Huawei paid $10 billion in dividends to its employees. This is a stark contrast to companies like Apple and Alphabet, which have aggressive share buyback policies to keep the share prices higher. In 2024, Apple spent $110 billion and Alphabet spent $70 billion in share repurchases. Huawei CEO Ren Zhengfei considers this share buyback a wasteful model. In 2024, Huawei invested nearly 20.8 per cent, approximately $25 billion of its total revenue in research and development. Despite the US sanctions, Huawei is now leading the market in telecommunications and 5G technologies. It holds over 150,000 active patents and is the largest smartphone company in 2024. In reality, Huawei's success threatens the corporate ownership model sold by the US; so the agenda of ostracising Huawei, which shows the free market is free until Western companies stay on top.

Huawei faces bans in the US and Europe over alleged security risks. But is it really about national security or Western fear of losing tech dominance to China’s employee-owned giant?

National security or Western tech monopoly - Real reason behind West's hostility toward Huawei

China has issued a set of rare earth export restrictions that could potentially target US military end-use, American media reports said. Its refined rare earth export policy will now differentiate between civilian and military end-users. From December 1, the Chinese Ministry of Commerce (MOFCOM) will implement this updated licensing system, which expedites approvals for non-military shipments while permanently denying licences to companies tied to the US defence sector. The new “validated end-user” system, as reported by Wall Street Journal, could potentially block rare earth magnets and materials used in advanced American weaponry and aerospace systems.<h2>Beijing is exploiting its dominance in rare earth elements</h2>China controls nearly 85 per cent of the world’s rare earth elements (REEs) through global mining and 95 per cent of REE processing. The restrictions, which began in April following new tariffs from US President Donald Trump, prohibit exports of seven heavy REEs critical for defence technologies such as American missile guidance systems and fighter jets.Also read: <a href="https://www.wionews.com/photos/top-7-countries-with-the-largest-rare-earth-reserves-see-where-india-stands-1759307993918">Top 7 countries with the largest rare earth reserves: See where India stands</a><h2>Why the rare earth elements are crucial for US defence</h2>The elements—samarium, gadolinium, terbium, dysprosium, lutetium, scandium, and yttrium—are subject to licensing. Military-related applications will be outrightly rejected. Sixteen major US contractors, including Lockheed Martin and Raytheon, have already been added to China’s export control list, disrupting supply chains and delaying US missile and aircraft production.But the April restrictions were selectively eased amid the waxing and waning of the tariff war. A truce following Trump's talks with Chinese President Xi Jinping reopened civilian REE exports, but defence-related prohibitions remained.In October, MOFCOM expanded controls to five additional elements—holmium, erbium, thulium, europium, and ytterbium—and to REE-based magnets, processing technologies, and lithium battery materials containing any Chinese rare earths.Also read: <a href="https://www.wionews.com/business-economy/how-can-india-meet-its-rare-earth-demand-amid-china-s-dominance-1761755712782">How can India meet its rare earth demand amid China's dominance? HCL co-founder suggests innovative solution</a><h2>Beijing views rare earth export controls as a national security action</h2>China will screen buyers to prevent indirect re-exports of these elements through third parties or countries. Explaining the measures under national security concerns, China insists this is consistent with WTO rules, even as it leverages them as negotiation tools.Also read: <a href=" https://www.wionews.com/world/will-rare-earths-cause-the-next-war-or-what-is-common-in-china-vs-us-afghanistan-ukraine-and-africa-1760345440542">Will rare earths cause the next war (or what is common in China vs US, Afghanistan, Ukraine and Africa)?</a><h2>How China is playing hide-and-seek with the US on rare earths</h2>Contradictory reports have emerged from the US and China regarding how many exemptions were granted on rare earth exports. American statements suggested a broad relaxation, but official Chinese readouts confirmed only non-military exemptions.Violations of the dual-use control list now carry fines of up to $700,000 or permanent export bans.<a href="https://www.wionews.com/videos/trump-xi-deal-china-to-suspend-rare-earth-curbs-probes-on-us-chip-firms-1762069999007/embed">https://www.wionews.com/videos/trump-xi-deal-china-to-suspend-rare-earth-curbs-probes-on-us-chip-firms-1762069999007/embed</a><h2>The US remains heavily dependent on Chinese rare earths</h2>Despite trade and tariff tensions, the US imports nearly three-quarters of its REEs from China.The US has minimal domestic capacity for heavy-element separation. Pentagon data showed that most advanced US defence systems—including F-35 jets, Tomahawk missiles, naval sonar arrays, and radar platforms—rely on Chinese-processed REEs. Current REE stockpiles cover only a few months of consumption, while new US mining and processing projects are years away from completion. Domestic initiatives under the Defence Production Act have yielded minimal results, covering only about 10 per cent of heavy REE requirements by 2025.<h2>China's calculated pressure tactic on the US defence sector</h2>While not an outright embargo, the rare earth end-user restrictions for US defence are designed to constrain US military preparedness without severing broader trade ties with America.&nbsp;US weapon production timelines could suffer, facing delays of up to a year. While recycling and allied sourcing could provide partial mitigation for US defence, it is nearly impossible for the US to fully substitute Chinese-origin REEs. The strategy underscores Beijing’s intent to wield mineral dominance as a deterrent to US military actions in Asia.

China’s new rare earth export curbs could target US military end use, tightening licences for defence-linked firms, according to US media reports. The move, which will reportedly kick in from December, could delay American weapons production and disrupt supply chains.


China has issued a set of rare earth export restrictions that could potentially target US military end-use, American media reports said. Its refined rare earth export policy will now differentiate between civilian and military end-users. From December 1, the Chinese Ministry of Commerce (MOFCOM) will implement this updated licensing system, which expedites approvals for non-military shipments while permanently denying licences to companies tied to the US defence sector. The new “validated end-user” system, as reported by Wall Street Journal, could potentially block rare earth magnets and materials used in advanced American weaponry and aerospace systems. Beijing is exploiting its dominance in rare earth elements China controls nearly 85 per cent of the world’s rare earth elements (REEs) through global mining and 95 per cent of REE processing. The restrictions, which began in April following new tariffs from US President Donald Trump, prohibit exports of seven heavy REEs critical for defence technologies such as American missile guidance systems and fighter jets. Also read: Top 7 countries with the largest rare earth reserves: See where India stands Why the rare earth elements are crucial for US defence The elements—samarium, gadolinium, terbium, dysprosium, lutetium, scandium, and yttrium—are subject to licensing. Military-related applications will be outrightly rejected. Sixteen major US contractors, including Lockheed Martin and Raytheon, have already been added to China’s export control list, disrupting supply chains and delaying US missile and aircraft production. But the April restrictions were selectively eased amid the waxing and waning of the tariff war. A truce following Trump's talks with Chinese President Xi Jinping reopened civilian REE exports, but defence-related prohibitions remained. In October, MOFCOM expanded controls to five additional elements—holmium, erbium, thulium, europium, and ytterbium—and to REE-based magnets, processing technologies, and lithium battery materials containing any Chinese rare earths. Also read: How can India meet its rare earth demand amid China's dominance? HCL co-founder suggests innovative solution Beijing views rare earth export controls as a national security action China will screen buyers to prevent indirect re-exports of these elements through third parties or countries. Explaining the measures under national security concerns, China insists this is consistent with WTO rules, even as it leverages them as negotiation tools. Also read: Will rare earths cause the next war (or what is common in China vs US, Afghanistan, Ukraine and Africa)? How China is playing hide-and-seek with the US on rare earths Contradictory reports have emerged from the US and China regarding how many exemptions were granted on rare earth exports. American statements suggested a broad relaxation, but official Chinese readouts confirmed only non-military exemptions. Violations of the dual-use control list now carry fines of up to $700,000 or permanent export bans. https://www.wionews.com/videos/trump-xi-deal-china-to-suspend-rare-earth-curbs-probes-on-us-chip-firms-1762069999007/embed The US remains heavily dependent on Chinese rare earths Despite trade and tariff tensions, the US imports nearly three-quarters of its REEs from China. The US has minimal domestic capacity for heavy-element separation. Pentagon data showed that most advanced US defence systems—including F-35 jets, Tomahawk missiles, naval sonar arrays, and radar platforms—rely on Chinese-processed REEs. Current REE stockpiles cover only a few months of consumption, while new US mining and processing projects are years away from completion. Domestic initiatives under the Defence Production Act have yielded minimal results, covering only about 10 per cent of heavy REE requirements by 2025. China's calculated pressure tactic on the US defence sector While not an outright embargo, the rare earth end-user restrictions for US defence are designed to constrain US military preparedness without severing broader trade ties with America. US weapon production timelines could suffer, facing delays of up to a year. While recycling and allied sourcing could provide partial mitigation for US defence, it is nearly impossible for the US to fully substitute Chinese-origin REEs. The strategy underscores Beijing’s intent to wield mineral dominance as a deterrent to US military actions in Asia.

China’s new rare earth export curbs target US military end use, tightening licences for defence-linked firms. The move, which will kick in from December, could delay American weapons production and disrupt supply chains. &nbsp;

Did China just put a chokehold on US defence? How its rare earth end use restrictions could hit American military hard

From its primitive days of bartering, the financial industry has gone through a long and winding transformation process, to coins, then paper, and finally to today's up-to-the-minute technology. AI has surely implanted itself in the finance industry as well, wherever financial technology changes people's interaction with money. The technophile and finance-knowledgeable Adarsh Naidu is one person who has been ruminating about the topic of money and AI throughout his time.Adarsh, throughout his professional journey, has been a commissioner in the deployment of AI and machine learning at different globally renowned companies. Among the various benefits he has brought are the making of fraud detection systems, the providing of blockchain-based audit solutions, and the building of AI infrastructure that is recognised by both AWS and Google. Moreover, he has worked as an advisor by partnering with Fortune 500 corporations on the ethical use of AI.The numbers speak for the impact of his work: not only did Adarsh's association with AI-based models lead to a 40 per cent reduction in fraudulent transactions, but also, the customer dispute resolutions got automated by 70 per cent, saving the firm $10 million annually. Besides, the predictive analytics models, under his supervision, reached a 25 per cent enhancement in loan approval accuracy, thus supporting lenders in risk management and faster service provision to consumers.One of his major projects is the development of an AI-based fraud detection system that is capable of processing more than $50 billion in transactions annually. In addition, the development of a blockchain solution for instant and traceable international payment transfers was another important project of which later a global bank successfully implemented. Adarsh was also involved in the creation of a generative AI tool for compliance management, which later resulted in a 60 per cent decrease in the manual audits needed.

Adarsh, throughout his professional journey, has been a commissioner in the deployment of AI and machine learning at different globally renowned companies.

From its primitive days of bartering, the financial industry has gone through a long and winding transformation process, to coins, then paper, and finally to today's up-to-the-minute technology. AI has surely implanted itself in the finance industry as well, wherever financial technology changes people's interaction with money. The technophile and finance-knowledgeable Adarsh Naidu is one person who has been ruminating about the topic of money and AI throughout his time. Adarsh, throughout his professional journey, has been a commissioner in the deployment of AI and machine learning at different globally renowned companies. Among the various benefits he has brought are the making of fraud detection systems, the providing of blockchain-based audit solutions, and the building of AI infrastructure that is recognised by both AWS and Google. Moreover, he has worked as an advisor by partnering with Fortune 500 corporations on the ethical use of AI. The numbers speak for the impact of his work: not only did Adarsh's association with AI-based models lead to a 40 per cent reduction in fraudulent transactions, but also, the customer dispute resolutions got automated by 70 per cent, saving the firm $10 million annually. Besides, the predictive analytics models, under his supervision, reached a 25 per cent enhancement in loan approval accuracy, thus supporting lenders in risk management and faster service provision to consumers. One of his major projects is the development of an AI-based fraud detection system that is capable of processing more than $50 billion in transactions annually. In addition, the development of a blockchain solution for instant and traceable international payment transfers was another important project of which later a global bank successfully implemented. Adarsh was also involved in the creation of a generative AI tool for compliance management, which later resulted in a 60 per cent decrease in the manual audits needed.

Adarsh, throughout his professional journey, has been a commissioner in the deployment of AI and machine learning at different globally renowned companies.

Can AI be trusted with your money? The drive to implement smarter and safer financial technology using AI

&nbsp;Elitecon International Limited on Thursday (Nov 6) announced its robust financial results for the quarter and half-year ended September 30, 2025, with its sales up by 538 per cent and PAT more than doubled. The company, a leading FMCG and tobacco exporter from India, reported significant growth in both revenue and profitability, with sales of Rs 504.90 crore. The company’s standalone revenue stood at Rs 704.12 crore for the first half of the financial year 2026, marking a 447 per cent increase, while PAT reached Rs 40.60 crore, up by 203 per cent.Headquartered in India, Elitecon International Limited has grown into a diversified FMCG and global trade enterprise, with operations spanning the UAE, the UK, Singapore, and more than 50 countries worldwide.According to Elitecon International Limited’s statement, in terms of sales, the company recorded Rs 504.90 crore in Q2 FY 2026, up from Rs 79.13 crore in Q2 FY 2025 and Rs 199.23 crore in Q1 FY 2026. EBITDA stood at Rs 43.90 crores for the first half of FY2026, registering a robust growth of 208 per cent over Rs 14.24 crores reported in H1 FY2025. For the first half of FY 2026, standalone revenue of the firm stood at Rs 704.12 crore, marking a 447 per cent increase.“Our second quarter results demonstrate the power of our transformation strategy,” said Vipin Sharma, Managing Director and spokesperson at Elitecon International. “We are seeing consistent traction across domestic and global markets, supported by capacity expansion, operational efficiency, and a sharp focus on value creation.”The company further stated that its consolidated financial performance in terms of sales was recorded at Rs 2,195.86 crore in Q2 FY2026, up from Rs 524.87 crore in Q1 FY2026 and Rs 313.89 crore in Q4 FY2025. In the first half of FY2026, the company achieved sales of Rs 3,739.87 crore, surpassing its total annual revenue of FY2025 of Rs 551.36 crore by over 578 per cent.Elitecon recently acquired Sunbridge Agro Pvt. Ltd. and Landsmill Agro Pvt. Ltd., which is seen as a marker of its stellar Q2 performance. These acquisitions reportedly strengthened the company's FMCG and edible oil portfolio. Both companies reported strong growth.The company also mentioned its EBITDA, which stood at Rs 157.40 crore in Q2 FY2026, up from Rs 73.37 crore in Q1 FY2026 and Rs 43.67 crore in Q4 FY2025. While the PAT was Rs 117.21 crore in Q2 FY2026, up from Rs 72.08 crore in Q1 FY2026 and Rs 42.97 crore in Q4 FY2025.

Headquartered in India, Elitecon International Limited has grown into a diversified FMCG and global trade enterprise, with operations spanning the UAE, the UK, Singapore, and more than 50 countries worldwide.

Elitecon International Limited on Thursday (Nov 6) announced its robust financial results for the quarter and half-year ended September 30, 2025, with its sales up by 538 per cent and PAT more than doubled. The company, a leading FMCG and tobacco exporter from India, reported significant growth in both revenue and profitability, with sales of Rs 504.90 crore. The company’s standalone revenue stood at Rs 704.12 crore for the first half of the financial year 2026, marking a 447 per cent increase, while PAT reached Rs 40.60 crore, up by 203 per cent. Headquartered in India, Elitecon International Limited has grown into a diversified FMCG and global trade enterprise, with operations spanning the UAE, the UK, Singapore, and more than 50 countries worldwide. According to Elitecon International Limited’s statement, in terms of sales, the company recorded Rs 504.90 crore in Q2 FY 2026, up from Rs 79.13 crore in Q2 FY 2025 and Rs 199.23 crore in Q1 FY 2026. EBITDA stood at Rs 43.90 crores for the first half of FY2026, registering a robust growth of 208 per cent over Rs 14.24 crores reported in H1 FY2025. For the first half of FY 2026, standalone revenue of the firm stood at Rs 704.12 crore, marking a 447 per cent increase. “Our second quarter results demonstrate the power of our transformation strategy,” said Vipin Sharma, Managing Director and spokesperson at Elitecon International. “We are seeing consistent traction across domestic and global markets, supported by capacity expansion, operational efficiency, and a sharp focus on value creation.” The company further stated that its consolidated financial performance in terms of sales was recorded at Rs 2,195.86 crore in Q2 FY2026, up from Rs 524.87 crore in Q1 FY2026 and Rs 313.89 crore in Q4 FY2025. In the first half of FY2026, the company achieved sales of Rs 3,739.87 crore, surpassing its total annual revenue of FY2025 of Rs 551.36 crore by over 578 per cent. Elitecon recently acquired Sunbridge Agro Pvt. Ltd. and Landsmill Agro Pvt. Ltd., which is seen as a marker of its stellar Q2 performance. These acquisitions reportedly strengthened the company's FMCG and edible oil portfolio. Both companies reported strong growth. The company also mentioned its EBITDA, which stood at Rs 157.40 crore in Q2 FY2026, up from Rs 73.37 crore in Q1 FY2026 and Rs 43.67 crore in Q4 FY2025. While the PAT was Rs 117.21 crore in Q2 FY2026, up from Rs 72.08 crore in Q1 FY2026 and Rs 42.97 crore in Q4 FY2025.

Headquartered in India, Elitecon International Limited has grown into a diversified FMCG and global trade enterprise, with operations spanning the UAE, the UK, Singapore, and more than 50 countries worldwide.

Elitecon International reports significant growth with 538% increase in sales for Q2 FY 2026

Approximately 75 per cent of Tesla shareholders paved way for tech giant Elon Musk to become first trillionaire after they overwhelmingly supported massive pay package for him. A Tesla official after company's annual meeting said that the package aims to ensure Musk stays at Tesla for at least seven-and-a-half years. It would lift Musk's holding in Tesla from about 12 percent to more than 25 percent, AFP reported.&nbsp;Tesla investors have showed their faith on Musk in the past, including a 2018 deal for about $55.8 billion pay package despite legal hurdles. However, business analysts say that the vote is crucial for Tesla's future even as Musk's political turn has hurt the Tesla brand this year. Meanwhile, shareholders also reelected three directors on Tesla's board and voted in favor of annual elections for all board members.&nbsp;<a href="https://www.wionews.com/videos/elon-musk-s-1-trillion-pay-package-faces-growing-investor-opposition-1762321094134/embed">https://www.wionews.com/videos/elon-musk-s-1-trillion-pay-package-faces-growing-investor-opposition-1762321094134/embed</a>&nbsp;Musk, already the world's richest person according to Forbes's real-time list of billionaires, could get as much as $1 trillion in stock over the next decade. To become a trillionaire, Musk must hit 12 milestones related to market capitalisation to receive the full pay package. The first tranche would be available when Tesla reaches $2 trillion in market value, up from its current $1.5 trillion. The plan also involves product goals, such as the delivery of 20 million Tesla vehicles.&nbsp;&nbsp;Read More | <a href="https://www.wionews.com/business-economy/could-musk-leave-tesla-as-ceo-company-chair-warns-shareholders-1761587250569">Could Elon Musk leave Tesla as CEO? Company chair warns shareholders</a>&nbsp;Reacting to the approval, Musk said, "I'd like to just give a heartfelt thanks to everyone who supported the shareholder votes. I super-appreciate it." "What we are about to embark upon is not merely a new chapter of the future of Tesla, but a whole new book," Musk told a cheering group of shareholders. "Other shareholder meetings are like snoozefests, but ours are banger.I mean, look at this. This is sick, Musk added. He made slew of promises - from beginning production of the Cybercab, its 2-seater steering-less robotaxi, to unveiling its next-generation Roadster electric sports car, according to Reuters.&nbsp;Read More | <a href="https://www.wionews.com/videos/musk-vs-tesla-musk-issues-billion-dollar-ultimatum-to-tesla-investors-world-dna-wion-1761710011454">Musk vs Tesla: Musk Issues Billion-Dollar Ultimatum to Tesla Investors</a>

Tesla shareholders approved a record $1 trillion pay package for CEO Elon Musk, with over 75% backing. The plan aims to keep him at Tesla for over seven years as it advances AI and robotics. Critics called it excessive amid falling sales, while supporters said it secures Musk’s leadership

Approximately 75 per cent of Tesla shareholders paved way for tech giant Elon Musk to become first trillionaire after they overwhelmingly supported massive pay package for him. A Tesla official after company's annual meeting said that the package aims to ensure Musk stays at Tesla for at least seven-and-a-half years. It would lift Musk's holding in Tesla from about 12 percent to more than 25 percent, AFP reported. Tesla investors have showed their faith on Musk in the past, including a 2018 deal for about $55.8 billion pay package despite legal hurdles. However, business analysts say that the vote is crucial for Tesla's future even as Musk's political turn has hurt the Tesla brand this year. Meanwhile, shareholders also reelected three directors on Tesla's board and voted in favor of annual elections for all board members. https://www.wionews.com/videos/elon-musk-s-1-trillion-pay-package-faces-growing-investor-opposition-1762321094134/embed Musk, already the world's richest person according to Forbes's real-time list of billionaires, could get as much as $1 trillion in stock over the next decade. To become a trillionaire, Musk must hit 12 milestones related to market capitalisation to receive the full pay package. The first tranche would be available when Tesla reaches $2 trillion in market value, up from its current $1.5 trillion. The plan also involves product goals, such as the delivery of 20 million Tesla vehicles. Read More | Could Elon Musk leave Tesla as CEO? Company chair warns shareholders Reacting to the approval, Musk said, "I'd like to just give a heartfelt thanks to everyone who supported the shareholder votes. I super-appreciate it." "What we are about to embark upon is not merely a new chapter of the future of Tesla, but a whole new book," Musk told a cheering group of shareholders. "Other shareholder meetings are like snoozefests, but ours are banger.I mean, look at this. This is sick, Musk added. He made slew of promises - from beginning production of the Cybercab, its 2-seater steering-less robotaxi, to unveiling its next-generation Roadster electric sports car, according to Reuters. Read More | Musk vs Tesla: Musk Issues Billion-Dollar Ultimatum to Tesla Investors

Tesla shareholders approved a record $1 trillion pay package for CEO Elon Musk, with over 75% backing. The plan aims to keep him at Tesla for over seven years as it advances AI and robotics. Critics called it excessive amid falling sales, while supporters said it secures Musk’s leadership

'Super-appreciate it...this is sick': Elon Musk could become world’s first trillionaire after THIS move by Tesla shareholders

It has emerged that China-made vehicles exported to foreign countries can, in theory, be stopped or switched off via remote access from China. This raises the question: Can Chinese defence exports also be controlled remotely? The issue of remote control came to light in Norway, where public transport authorities discovered their buses could be accessed from abroad.<h2>Norway electric buses can be stopped remotely</h2>Ruter, Oslo’s public transport operator, found during a security audit of Chinese-made Yutong electric buses that the vehicles had embedded mobile network connections and remote software access. This allowed the manufacturer to perform diagnostics and updates, which means the buses could potentially be disabled remotely. In response, Ruter removed SIM cards from the buses’ modems to mitigate the risk.Also read: <a href="https://www.wionews.com/world/-check-for-any-backdoor-xi-s-light-hearted-warning-on-phones-he-gifted-to-s-korea-president-yes-someone-can-crack-your-phone-for-spying-1762156032147">'Check for any backdoor', Xi's light-hearted warning on phones he gifted to S Korea president. Yes, someone can crack your phone for spying</a><h2>Denmark reviews Chinese-made buses over remote access fears</h2>Denmark’s Movia launched a review of its Chinese-made bus fleet.&nbsp;No actual remote disabling incidents have been reported, but the situation highlights that exported vehicles can have embedded remote access, ostensibly for maintenance or diagnostic purposes.Also read: <a href="OpenAI bans suspected China-linked accounts for seeking surveillance proposals">OpenAI bans suspected China-linked accounts for seeking surveillance proposals</a><h2>Remote access in military equipment: A potential worry for future</h2>Chinese export drones, such as the Wing Loong series, include ‘geofencing technology’ that prevents their use in Chinese airspace. If a drone crosses a restricted boundary, it can automatically stop or return to its launch point. These features are intended to prevent misuse against China, but demonstrate that exported military equipment can incorporate mechanisms for limiting or controlling their operation.<a href="https://www.wionews.com/videos/china-s-surveillance-built-on-u-s-tech-report-1757766906160/embed">https://www.wionews.com/videos/china-s-surveillance-built-on-u-s-tech-report-1757766906160/embed</a><h2>Fighter jets, frigates can have remote software update features</h2>Chinese-made fighter jets, such as the JF-17 jointly produced with Pakistan, include advanced avionics and data links that support over-the-air software updates and diagnostics. Analysts have warned that chips and systems from China could theoretically include backdoors. However, there is no verified evidence of China remotely controlling or disabling exported jets.Chinese-built frigates, such as the Type 054A/P class sold to Pakistan, integrate networked systems for software updates and diagnostics, which could theoretically allow remote access, though no incidents have been reported.Also read: <a href="https://www.wionews.com/photos/5-countries-with-the-most-powerful-internet-surveillance-capabilities-1759435437882">5 countries with the most powerful internet surveillance capabilities</a><h2>Why China embeds remote access</h2>In civilian products like buses, remote access is generally intended for maintenance and fleet management. For military exports, buyers often require co-production, local maintenance, and restrictions on supplier access to reduce the possibility of remote control. Nonetheless, the presence of remote-access capabilities and geofencing demonstrates that China has the technical ability to embed controls into equipment it exports.The cases involving China-made vehicles provide examples of built-in remote access that could potentially allow the manufacturers to disable them. They highlight supply-chain and software vulnerabilities. Buyers of both civilian and military equipment are now paying closer attention to digital and software security as part of overall procurement risk assessments

China-made vehicles and export drones can be remotely accessed or disabled. Remote control of Chinese equipment, both civilian and defence, could be a security threat of the future.
 

It has emerged that China-made vehicles exported to foreign countries can, in theory, be stopped or switched off via remote access from China. This raises the question: Can Chinese defence exports also be controlled remotely? The issue of remote control came to light in Norway, where public transport authorities discovered their buses could be accessed from abroad. Norway electric buses can be stopped remotely Ruter, Oslo’s public transport operator, found during a security audit of Chinese-made Yutong electric buses that the vehicles had embedded mobile network connections and remote software access. This allowed the manufacturer to perform diagnostics and updates, which means the buses could potentially be disabled remotely. In response, Ruter removed SIM cards from the buses’ modems to mitigate the risk. Also read: 'Check for any backdoor', Xi's light-hearted warning on phones he gifted to S Korea president. Yes, someone can crack your phone for spying Denmark reviews Chinese-made buses over remote access fears Denmark’s Movia launched a review of its Chinese-made bus fleet. No actual remote disabling incidents have been reported, but the situation highlights that exported vehicles can have embedded remote access, ostensibly for maintenance or diagnostic purposes. Also read: OpenAI bans suspected China-linked accounts for seeking surveillance proposals Remote access in military equipment: A potential worry for future Chinese export drones, such as the Wing Loong series, include ‘geofencing technology’ that prevents their use in Chinese airspace. If a drone crosses a restricted boundary, it can automatically stop or return to its launch point. These features are intended to prevent misuse against China, but demonstrate that exported military equipment can incorporate mechanisms for limiting or controlling their operation. https://www.wionews.com/videos/china-s-surveillance-built-on-u-s-tech-report-1757766906160/embed Fighter jets, frigates can have remote software update features Chinese-made fighter jets, such as the JF-17 jointly produced with Pakistan, include advanced avionics and data links that support over-the-air software updates and diagnostics. Analysts have warned that chips and systems from China could theoretically include backdoors. However, there is no verified evidence of China remotely controlling or disabling exported jets. Chinese-built frigates, such as the Type 054A/P class sold to Pakistan, integrate networked systems for software updates and diagnostics, which could theoretically allow remote access, though no incidents have been reported. Also read: 5 countries with the most powerful internet surveillance capabilities Why China embeds remote access In civilian products like buses, remote access is generally intended for maintenance and fleet management. For military exports, buyers often require co-production, local maintenance, and restrictions on supplier access to reduce the possibility of remote control. Nonetheless, the presence of remote-access capabilities and geofencing demonstrates that China has the technical ability to embed controls into equipment it exports. The cases involving China-made vehicles provide examples of built-in remote access that could potentially allow the manufacturers to disable them. They highlight supply-chain and software vulnerabilities. Buyers of both civilian and military equipment are now paying closer attention to digital and software security as part of overall procurement risk assessments

China-made vehicles and export drones can be remotely accessed or disabled. Remote control of Chinese equipment, both civilian and defence, could be a security threat of the future. &nbsp;

Chinese exported buses can be stopped via remote control from China. Can its defence equipment be controlled from afar too?

Securities and Exchange Board of India's (SEBI) chairman, Tuhin Kanta Pandey, reacted to concerns on overvaluations of recent IPOs, saying market forces decide valuations, not the regulator. He said SEBI's role is to ensure that companies make full disclosures.&nbsp;He further said that SEBI's role is to ensure that investors have access to accurate and comprehensive information. He said that the market regulator cannot intervene in the markets. He said share prices will be decided by the markets based on opportunities.&nbsp;"SEBI always thinks of transparency. We don't determine valuations, and it remains on the 'eyes of the beholden' and the investor. We cannot intervene in the markets...and decide what would be the price of the shares. Share prices will be decided by the markets, depending on the opportunities," SEBI chief said.&nbsp;“SEBI's main role is to ensure disclosures are robust. We have mandated font size and disclosure of comparatives. We are largely focused on information and disclosures; the rest has to be determined by the capital market itself,” he added.&nbsp;He also reacted to PSU companies lacking a minimum number of independent directors on their board, saying it will request the government to appoint independent directors timely.&nbsp;He said regulations play an important role in striking a balance between market development and investor protection.&nbsp;"Regulations play a constructive role for market development, but if the regulations become too constraining, too overreaching, and too micromanaging, then they may become problematic," he said.&nbsp;He said SEBI wants to maintain a balanced and progressive framework, which can foster trust and growth. He said that the mutual fund industry is an example of the same.&nbsp;"Take the instance of mutual funds, the mutual fund industry has grown and the investor trust in it also grew because of our regulations," he added.

Securities and Exchange Board of India's (SEBI) chairman, Tuhin Kanta Pandey, reacted to concerns on overvaluations of recent IPOs, saying market forces decide valuations, not the regulator. 

Securities and Exchange Board of India's (SEBI) chairman, Tuhin Kanta Pandey, reacted to concerns on overvaluations of recent IPOs, saying market forces decide valuations, not the regulator. He said SEBI's role is to ensure that companies make full disclosures. He further said that SEBI's role is to ensure that investors have access to accurate and comprehensive information. He said that the market regulator cannot intervene in the markets. He said share prices will be decided by the markets based on opportunities. "SEBI always thinks of transparency. We don't determine valuations, and it remains on the 'eyes of the beholden' and the investor. We cannot intervene in the markets...and decide what would be the price of the shares. Share prices will be decided by the markets, depending on the opportunities," SEBI chief said. “SEBI's main role is to ensure disclosures are robust. We have mandated font size and disclosure of comparatives. We are largely focused on information and disclosures; the rest has to be determined by the capital market itself,” he added. He also reacted to PSU companies lacking a minimum number of independent directors on their board, saying it will request the government to appoint independent directors timely. He said regulations play an important role in striking a balance between market development and investor protection. "Regulations play a constructive role for market development, but if the regulations become too constraining, too overreaching, and too micromanaging, then they may become problematic," he said. He said SEBI wants to maintain a balanced and progressive framework, which can foster trust and growth. He said that the mutual fund industry is an example of the same. "Take the instance of mutual funds, the mutual fund industry has grown and the investor trust in it also grew because of our regulations," he added.

Securities and Exchange Board of India: He said regulations play an important role in striking a balance between market development and investor protection.&nbsp;

What SEBI chief Tuhin Kanta Pandey said on IPO overvaluations

An eagerly watched legal battle between Amazon and Perplexity AI could redefine how we shop online. Amazon is challenging Perplexity AI’s Comet browser, which includes an AI assistant that can log into users’ shopping accounts and make purchases on their behalf. The court case is expected to shape the future of “agentic commerce”, where AI acts autonomously for users.&nbsp;<h2>Status of the Amazon vs Perplexity AI case on agentic shopping</h2>Amazon sent a cease-and-desist letter to Perplexity on October 31, and then filed a lawsuit four days later in the US District Court for the Northern District of California. Perplexity, in a blog post, aptly titled “Bullying is Not Innovation”, accused Amazon of trying to stifle progress and restrict user choices. No hearings have been scheduled yet, but the outcome could have ripple effects far beyond these two companies.<h2>Automated shopping: How the shopping bot on Comet browser of Perplexity AI works</h2>Comet’s users can tell the AI assistant what they want to buy, and it handles the rest — searching for products, comparing prices, adding items to the basket, and even checking out. Perplexity describes it as a personal assistant that knows exactly what you want and takes care of all the clicks for you.<a href="https://www.wionews.com/videos/openai-aws-openai-strikes-mega-38b-cloud-deal-with-amazon-web-services-1762255380066/embed">https://www.wionews.com/videos/openai-aws-openai-strikes-mega-38b-cloud-deal-with-amazon-web-services-1762255380066/embed</a><h2>Why is Amazon suing Perplexity over its shopping bot?</h2>Amazon is accusing the startup of violating its terms of service. According to Amazon, Comet’s AI performs automated actions that are disguised as human browsing activity, effectively turning Comet into a “stealth browser”. Amazon argues that this poses potential security and privacy risks, including exposure of personal data and disruption of returns or refunds. The company also claims this could be computer fraud under the US Computer Fraud and Abuse Act and California’s Comprehensive Computer Data Access and Fraud Act.Also read: <a href="https://www.wionews.com/photos/amazon-microsoft-accenture-and-more-here-s-a-list-of-companies-cutting-jobs-to-focus-on-ai-1761829243515">Amazon, Microsoft, Accenture and more: Here’s a list of companies cutting jobs to focus on AI</a><h2>What’s Perplexity saying about its shopping bot in Comet browser?</h2>Perplexity argues that Comet does not scrape data or store user information on its own servers. The company says the AI acts only under direct user instruction, while login credentials are kept locally on the user’s device. In its view, the AI assistant is not an unauthorised bot but an extension of the user — a digital stand-in acting with full consent.Also read: <a href="https://www.wionews.com/trending/lack-of-market-research-or-tone-deaf-chinese-shopping-site-aliexpress-sells-lord-jagannath-doormat-online-devotees-outraged-1753788995615">Lack of market research or tone-deaf? Chinese shopping site AliExpress sells 'Lord Jagannath doormat’ online, devotees outraged</a><h2>At stake is a $50 billion advertising business of Amazon</h2>Perplexity accuses Amazon of trying to crush competition to protect its $50 billion advertising business, which depends heavily on data from human browsing and impulse purchases. If users delegate shopping to an AI that optimises for the best deal, rather than ‘sponsored results’, Amazon could lose control over which products people see, and which ads they click on.Also read: <a href="https://www.wionews.com/business-economy/amazon-planning-to-replace-600-000-employees-with-robots-report-makes-massive-claim-1761116762286">Amazon&nbsp;planning to replace 600,000 employees with robots? Report makes massive claim</a><h2>How the Amazon vs Perplexity case could change online shopping</h2>The case is shaping up as a David vs Goliath battle. If the court sides with Amazon, it could lead to tighter restrictions on any AI that tries to browse websites or make purchases on behalf of users. Such a ruling might shut out smaller AI companies from building their own shopping assistants and further strengthen large tech platforms like Amazon.It’s worth noting that Amazon already has its own AI shopping tools, such as Rufus and “Buy for Me”, which operate within its website and mobile app.<h2>Agentic commerce is the future? If Perplexity wins, a new kind of online shopping could emerge</h2>Shopping online is hard work. It would be wonderful if a trustworthy AI could handle the task for you. Imagine a world where you simply say, “Find me the best deal on jeans,” and within seconds the AI compares dozens of stores, applies coupons, checks return policies, and completes the purchase — all without you clicking once.But convenience comes with challenges around security, trust and accountability. What happens if the AI buys the wrong items? Who is responsible if there’s a return dispute or a data breach caused by automated access? These legal and ethical questions are exactly what this lawsuit could begin to define.The core issue is whether Comet broke Amazon’s rules — and, more broadly, whether users have the right to let an AI act fully on their behalf online. Can a bot legally and safely shop for you? Or will platforms draw a harder line against any automation that bypasses their systems?The answer to these questions would shape the next decade of e-commerce, and decide who really controls the future of online shopping: the user or the platform. &nbsp;

Shopping online is hard work. It would be wonderful if a trustworthy AI could handle the task for you. Imagine a world where you simply say, “Find me the best deal on jeans,” and within seconds, the AI compares dozens of stores and completes the purchase. Is that the future?

An eagerly watched legal battle between Amazon and Perplexity AI could redefine how we shop online. Amazon is challenging Perplexity AI’s Comet browser, which includes an AI assistant that can log into users’ shopping accounts and make purchases on their behalf. The court case is expected to shape the future of “agentic commerce”, where AI acts autonomously for users. Status of the Amazon vs Perplexity AI case on agentic shopping Amazon sent a cease-and-desist letter to Perplexity on October 31, and then filed a lawsuit four days later in the US District Court for the Northern District of California. Perplexity, in a blog post, aptly titled “Bullying is Not Innovation”, accused Amazon of trying to stifle progress and restrict user choices. No hearings have been scheduled yet, but the outcome could have ripple effects far beyond these two companies. Automated shopping: How the shopping bot on Comet browser of Perplexity AI works Comet’s users can tell the AI assistant what they want to buy, and it handles the rest — searching for products, comparing prices, adding items to the basket, and even checking out. Perplexity describes it as a personal assistant that knows exactly what you want and takes care of all the clicks for you. https://www.wionews.com/videos/openai-aws-openai-strikes-mega-38b-cloud-deal-with-amazon-web-services-1762255380066/embed Why is Amazon suing Perplexity over its shopping bot? Amazon is accusing the startup of violating its terms of service. According to Amazon, Comet’s AI performs automated actions that are disguised as human browsing activity, effectively turning Comet into a “stealth browser”. Amazon argues that this poses potential security and privacy risks, including exposure of personal data and disruption of returns or refunds. The company also claims this could be computer fraud under the US Computer Fraud and Abuse Act and California’s Comprehensive Computer Data Access and Fraud Act. Also read: Amazon, Microsoft, Accenture and more: Here’s a list of companies cutting jobs to focus on AI What’s Perplexity saying about its shopping bot in Comet browser? Perplexity argues that Comet does not scrape data or store user information on its own servers. The company says the AI acts only under direct user instruction, while login credentials are kept locally on the user’s device. In its view, the AI assistant is not an unauthorised bot but an extension of the user — a digital stand-in acting with full consent. Also read: Lack of market research or tone-deaf? Chinese shopping site AliExpress sells 'Lord Jagannath doormat’ online, devotees outraged At stake is a $50 billion advertising business of Amazon Perplexity accuses Amazon of trying to crush competition to protect its $50 billion advertising business, which depends heavily on data from human browsing and impulse purchases. If users delegate shopping to an AI that optimises for the best deal, rather than ‘sponsored results’, Amazon could lose control over which products people see, and which ads they click on. Also read: Amazon planning to replace 600,000 employees with robots? Report makes massive claim How the Amazon vs Perplexity case could change online shopping The case is shaping up as a David vs Goliath battle. If the court sides with Amazon, it could lead to tighter restrictions on any AI that tries to browse websites or make purchases on behalf of users. Such a ruling might shut out smaller AI companies from building their own shopping assistants and further strengthen large tech platforms like Amazon. It’s worth noting that Amazon already has its own AI shopping tools, such as Rufus and “Buy for Me”, which operate within its website and mobile app. Agentic commerce is the future? If Perplexity wins, a new kind of online shopping could emerge Shopping online is hard work. It would be wonderful if a trustworthy AI could handle the task for you. Imagine a world where you simply say, “Find me the best deal on jeans,” and within seconds the AI compares dozens of stores, applies coupons, checks return policies, and completes the purchase — all without you clicking once. But convenience comes with challenges around security, trust and accountability. What happens if the AI buys the wrong items? Who is responsible if there’s a return dispute or a data breach caused by automated access? These legal and ethical questions are exactly what this lawsuit could begin to define. The core issue is whether Comet broke Amazon’s rules — and, more broadly, whether users have the right to let an AI act fully on their behalf online. Can a bot legally and safely shop for you? Or will platforms draw a harder line against any automation that bypasses their systems? The answer to these questions would shape the next decade of e-commerce, and decide who really controls the future of online shopping: the user or the platform.

Shopping online is hard work. It would be wonderful if a trustworthy AI could handle the task for you. Imagine a world where you simply say, “Find me the best deal on jeans,” and within seconds, the AI compares dozens of stores and completes the purchase. Is that the future?

Can a bot really go ahead and shop for you? Why the Amazon vs Perplexity AI case could change the future of online shopping

The Federal Aviation Administration (FAA) of the United States, the country's aviation regulator, is mulling over slashing the number of flights to tide over the paucity of staff at local airports because of the government shutdown.&nbsp;Transportation Secretary Sean Duffy said Wednesday that there would be a 10 per cent reduction in the capacity at least 40 of “our locations”. He said that the move was taken to alleviate the pressure.&nbsp;FAA Administrator Bryan Bedford told NBC News that the reduction in capacity was spurred by fatigue of air traffic controllers.&nbsp;The cut in the number of flights will happen in a phased manner. Flight cuts would start at 4% Friday, 5% Saturday, and ramp up to 10% next week.&nbsp;Most of the air traffic workers have been working without pay because of the government shutdown.&nbsp;Bedford said that the Controllers have been working diligently for the last five weeks with this huge burden over their heads due to a lack of compensation. He said that the agency has noticed this fatigue building up. Bedford said that the agency is not waiting for the situation to get worse.&nbsp;The US government shutdown has entered its second month, forcing hundreds of thousands of workers without pay.&nbsp;Over 5000 flights were delayed in the US on Sunday. On Monday, 2,885 flights were delayed.&nbsp;Those flying in and out of Chicago's O’Hare International Airport, Newark Liberty International Airport, John F. Kennedy International Airport, and Hartsfield-Jackson Atlanta International Airport were the hardest hit. This is because over 900 flights were delayed and 35 were cancelled at these facilities.&nbsp;On Wednesday, 2100 flights were delayed and 164 were cancelled. The lack of pay has triggered a shortage of traffic controllers.&nbsp;Duffy said that many of these traffic controllers have been forced to take side gigs to pay their bills in the absence of pay.&nbsp;“By the way, I do not want them to take side jobs. I want them to show up for work. We have asked them to show up for work, but I’m not naive enough to understand that they’re trying to figure out how they meet their daily obligations,” he said.&nbsp;United Airlines’ CEO Scott Kirby told the publication that the reduction will impact regional and other domestic flights. However, international flights will not be impacted.&nbsp;American Airlines said most of its customers' travel will not be affected.&nbsp;On Tuesday, Duffy had said that there would be chaos in the skies next week if the government shutdown drags on and air traffic controllers miss a second paycheck.&nbsp;The head of the air traffic controllers' union has warned that the financial pressure on air traffic controllers will only increase if the shutdown continues. FAA employees already missed one paycheck on October 28.&nbsp;Duffy said none of the US workers can manage to miss two paychecks.&nbsp;“So if you bring us to a week from today, Democrats, you will see mass chaos. You will see mass flight delays. You’ll see mass cancellations, and you may see us close certain parts of the airspace, because we just cannot manage it, because we don’t have air traffic controllers,” he added.

Transportation Secretary Sean Duffy said Wednesday that there would be a 10 per cent reduction in the capacity at least 40 of “our locations”. 

The Federal Aviation Administration (FAA) of the United States, the country's aviation regulator, is mulling over slashing the number of flights to tide over the paucity of staff at local airports because of the government shutdown. Transportation Secretary Sean Duffy said Wednesday that there would be a 10 per cent reduction in the capacity at least 40 of “our locations”. He said that the move was taken to alleviate the pressure. FAA Administrator Bryan Bedford told NBC News that the reduction in capacity was spurred by fatigue of air traffic controllers. The cut in the number of flights will happen in a phased manner. Flight cuts would start at 4% Friday, 5% Saturday, and ramp up to 10% next week. Most of the air traffic workers have been working without pay because of the government shutdown. Bedford said that the Controllers have been working diligently for the last five weeks with this huge burden over their heads due to a lack of compensation. He said that the agency has noticed this fatigue building up. Bedford said that the agency is not waiting for the situation to get worse. The US government shutdown has entered its second month, forcing hundreds of thousands of workers without pay. Over 5000 flights were delayed in the US on Sunday. On Monday, 2,885 flights were delayed. Those flying in and out of Chicago's O’Hare International Airport, Newark Liberty International Airport, John F. Kennedy International Airport, and Hartsfield-Jackson Atlanta International Airport were the hardest hit. This is because over 900 flights were delayed and 35 were cancelled at these facilities. On Wednesday, 2100 flights were delayed and 164 were cancelled. The lack of pay has triggered a shortage of traffic controllers. Duffy said that many of these traffic controllers have been forced to take side gigs to pay their bills in the absence of pay. “By the way, I do not want them to take side jobs. I want them to show up for work. We have asked them to show up for work, but I’m not naive enough to understand that they’re trying to figure out how they meet their daily obligations,” he said. United Airlines’ CEO Scott Kirby told the publication that the reduction will impact regional and other domestic flights. However, international flights will not be impacted. American Airlines said most of its customers' travel will not be affected. On Tuesday, Duffy had said that there would be chaos in the skies next week if the government shutdown drags on and air traffic controllers miss a second paycheck. The head of the air traffic controllers' union has warned that the financial pressure on air traffic controllers will only increase if the shutdown continues. FAA employees already missed one paycheck on October 28. Duffy said none of the US workers can manage to miss two paychecks. “So if you bring us to a week from today, Democrats, you will see mass chaos. You will see mass flight delays. You’ll see mass cancellations, and you may see us close certain parts of the airspace, because we just cannot manage it, because we don’t have air traffic controllers,” he added.

US shutdown: Transportation Secretary Sean Duffy said Wednesday that there would be a 10 per cent reduction in the capacity at least 40 of “our locations”.&nbsp;

Shutdown-induced chaos in US; flights delayed, cancelled amid employee 'fatigue'

Donald Trump is feeling consternation as the US Supreme Court seems sceptical about the global tariffs he imposed unilaterally on several countries, including India. In all likelihood, the SCOTUS will end, or significantly restrict, the US president's marauding that led to economic pain and diplomatic tussles. If indeed that happens, one country will stand vindicated: India. Prime Minister Modi's government has taken a wait-and-watch approach while not compromising on the interests of Indian stakeholders - from farmers to local businesses. India's trade talks with US have dragged on, possibly intentionally. Now, the biggest resistance to tariffs came from within the US, and Trump might be forced to withdraw at least parts of this punitive regime. Here is what you should know:<h2>What the SCOTUS hearing on Trump tariffs is about&nbsp;</h2>At the heart of the hearings is Trump's use of emergency powers to impose the sweeping tariffs. The question is mainly about how such moves affect or alter US trade law. &nbsp;Specifically, it is about whether the International Emergency Economic Powers Act (IEEPA) allowed the president to unilaterally impose tariffs.Also read: <a href="https://www.wionews.com/business-economy/days-after-donald-trump-s-tariff-warning-china-vows-to-fight-till-end-1760428641268">Days after Donald Trump's tariff warning, China vows to 'fight till end'</a><h2>What happened at the Trump tariffs hearing?&nbsp;</h2> Both conservative and liberal justices found the administration’s reading of the US trade law to be too broad. The court appeared more concerned about the “major questions” doctrine, which requires clear congressional authorisation for significant economic or political actions, such as the tariffs.The Supreme Court Justices , some of them appointed by Trump himself, did not appreciate his administration’s argument that the IEEPA allows the president to announce tariffs. At the hearing on Wednesday (Nov 5), Chief Justice John Roberts questioned whether tariffs (which essentially are taxes on Americans) could really be seen as mere “regulation” under the law.Justice Amy Coney Barrett pressed the government attorney to explain why regulating 'importation' should include tariffs when no president in the US trade law’s 50-year history had done so.Justice Neil Gorsuch warned that giving the president such sweeping authority would turn the US Congress’s power to tax and regulate trade into a ‘presidential prerogative.’ Even Brett Kavanaugh, who is generally cautious, questioned whether Congress ever meant IEEPA to authorise such a vast power.The Solicitor General D John Sauer, defended the tariffs as 'legitimate responses to national emergencies', ranging from trade deficits to the fentanyl drug abuse crisis.But the justices expressed unease with that reasoning.&nbsp;Also read: <a href="https://www.wionews.com/world/-he-was-offended-canada-s-carney-desperate-to-resume-trade-talks-apologises-to-trump-over-anti-tariff-reagan-ad-1762131032752">'He was offended': Canada's Carney desperate to resume trade talks, apologises to Trump over anti-tariff Reagan ad</a><h2>Prediction markets think Trump could lose tariff case</h2>Prediction markets and speculative traders are taking positions with the assumption that Trump's wings could be clipped by the court. Traders have quickly reduced their bets on the tariffs surviving the legal test at the SCOTUS. Platforms tracking the case showed steep drops in the odds of a Trump victory, which indicated that Wall Street now expect the court to invalidate or limit Trump's use of IEEPA. &nbsp;In fact, it's the outcome that the market wants: Trump tariffs have brought in inflationary pressures and hit global trade, and the court ruling could ease these, they hope.<h2>Trump is watching the SCOTUS ruling</h2>Trump is feeling a lot of tension on the case, and he has not been silent about it. He called the litigation 'a politically motivated attack'. He insisted that the tariffs were essential to protect American jobs and punish countries like China, Mexico and India for what he calls unfair trade practices. His line on tariffs has been to link them to national security, and even to the geopolitical balance around Russia and Ukraine. He has portrayed tariffs as crucial for maintaining US leverage, while accusing opponents of undermining his authority to act swiftly in emergencies.<a href="https://www.wionews.com/videos/high-court-hears-final-arguments-in-trump-s-tariff-authority-battle-1762409271893/embed">https://www.wionews.com/videos/high-court-hears-final-arguments-in-trump-s-tariff-authority-battle-1762409271893/embed</a><h2>Why the Trump tariff legal showdown is important for India</h2>Since 2018, India has faced a number of US tariffs: on steel, aluminium, pharmaceuticals, and textiles, often over ‘national security’ grounds. India has refrained from tit-for-tat retaliation. It has filed challenges at the World Trade Organization, while maintaining dialogue with American trade officials.&nbsp;India has extended US trade talks to buy time, even as global institutions and courts tested the legality of Trump’s moves. Indian negotiators have long stressed that trade rules must not be rewritten by unilateral presidential action.That restraint now appears to have been correct in hindsight.&nbsp;Also read: <a href="https://www.wionews.com/world/us-supreme-court-justices-appear-sceptical-of-trump-s-tariffs-argument-1762369739218">US Supreme Court justices appear sceptical of Trump’s tariffs argument</a><h2>If the justices do indeed bulldoze Trump’s tariff machine, India will have reason to smile</h2>The Supreme Court’s decision, which might take weeks or even months, &nbsp;will determine whether presidents can continue to wield emergency powers to reshape global trade on their own.&nbsp;If it limits or strikes down Trump’s IEEPA tariffs, it will affirm the principle that only legislatures can authorise taxes and trade barriers, not the president. It will echo India’s argument that international commerce must rest on clear, rules-based frameworks rather than impulsive executive orders.&nbsp;On the ground, it could ease pressure on Indian exporters who have faced tariff surcharges of up to 50 per cent in some sectors. Politically, it would strengthen India’s image as a defender of multilateralism.

India has long opposed Trump’s unilateral tariffs- including the '50 per cent punishment' for buying Russian oil. India termed them as arbitrary and contrary to global trade rules, while many other countries bent their knee and entered into deals with Trump. 

Donald Trump is feeling consternation as the US Supreme Court seems sceptical about the global tariffs he imposed unilaterally on several countries, including India. In all likelihood, the SCOTUS will end, or significantly restrict, the US president's marauding that led to economic pain and diplomatic tussles. If indeed that happens, one country will stand vindicated: India. Prime Minister Modi's government has taken a wait-and-watch approach while not compromising on the interests of Indian stakeholders - from farmers to local businesses. India's trade talks with US have dragged on, possibly intentionally. Now, the biggest resistance to tariffs came from within the US, and Trump might be forced to withdraw at least parts of this punitive regime. Here is what you should know: What the SCOTUS hearing on Trump tariffs is about At the heart of the hearings is Trump's use of emergency powers to impose the sweeping tariffs. The question is mainly about how such moves affect or alter US trade law. Specifically, it is about whether the International Emergency Economic Powers Act (IEEPA) allowed the president to unilaterally impose tariffs. Also read: Days after Donald Trump's tariff warning, China vows to 'fight till end' What happened at the Trump tariffs hearing? Both conservative and liberal justices found the administration’s reading of the US trade law to be too broad. The court appeared more concerned about the “major questions” doctrine, which requires clear congressional authorisation for significant economic or political actions, such as the tariffs. The Supreme Court Justices , some of them appointed by Trump himself, did not appreciate his administration’s argument that the IEEPA allows the president to announce tariffs. At the hearing on Wednesday (Nov 5), Chief Justice John Roberts questioned whether tariffs (which essentially are taxes on Americans) could really be seen as mere “regulation” under the law. Justice Amy Coney Barrett pressed the government attorney to explain why regulating 'importation' should include tariffs when no president in the US trade law’s 50-year history had done so. Justice Neil Gorsuch warned that giving the president such sweeping authority would turn the US Congress’s power to tax and regulate trade into a ‘presidential prerogative.’ Even Brett Kavanaugh, who is generally cautious, questioned whether Congress ever meant IEEPA to authorise such a vast power. The Solicitor General D John Sauer, defended the tariffs as 'legitimate responses to national emergencies', ranging from trade deficits to the fentanyl drug abuse crisis. But the justices expressed unease with that reasoning. Also read: 'He was offended': Canada's Carney desperate to resume trade talks, apologises to Trump over anti-tariff Reagan ad Prediction markets think Trump could lose tariff case Prediction markets and speculative traders are taking positions with the assumption that Trump's wings could be clipped by the court. Traders have quickly reduced their bets on the tariffs surviving the legal test at the SCOTUS. Platforms tracking the case showed steep drops in the odds of a Trump victory, which indicated that Wall Street now expect the court to invalidate or limit Trump's use of IEEPA. In fact, it's the outcome that the market wants: Trump tariffs have brought in inflationary pressures and hit global trade, and the court ruling could ease these, they hope. Trump is watching the SCOTUS ruling Trump is feeling a lot of tension on the case, and he has not been silent about it. He called the litigation 'a politically motivated attack'. He insisted that the tariffs were essential to protect American jobs and punish countries like China, Mexico and India for what he calls unfair trade practices. His line on tariffs has been to link them to national security, and even to the geopolitical balance around Russia and Ukraine. He has portrayed tariffs as crucial for maintaining US leverage, while accusing opponents of undermining his authority to act swiftly in emergencies. https://www.wionews.com/videos/high-court-hears-final-arguments-in-trump-s-tariff-authority-battle-1762409271893/embed Why the Trump tariff legal showdown is important for India Since 2018, India has faced a number of US tariffs: on steel, aluminium, pharmaceuticals, and textiles, often over ‘national security’ grounds. India has refrained from tit-for-tat retaliation. It has filed challenges at the World Trade Organization, while maintaining dialogue with American trade officials. India has extended US trade talks to buy time, even as global institutions and courts tested the legality of Trump’s moves. Indian negotiators have long stressed that trade rules must not be rewritten by unilateral presidential action. That restraint now appears to have been correct in hindsight. Also read: US Supreme Court justices appear sceptical of Trump’s tariffs argument If the justices do indeed bulldoze Trump’s tariff machine, India will have reason to smile The Supreme Court’s decision, which might take weeks or even months, will determine whether presidents can continue to wield emergency powers to reshape global trade on their own. If it limits or strikes down Trump’s IEEPA tariffs, it will affirm the principle that only legislatures can authorise taxes and trade barriers, not the president. It will echo India’s argument that international commerce must rest on clear, rules-based frameworks rather than impulsive executive orders. On the ground, it could ease pressure on Indian exporters who have faced tariff surcharges of up to 50 per cent in some sectors. Politically, it would strengthen India’s image as a defender of multilateralism.

India has long opposed Trump’s unilateral tariffs- including the '50 per cent punishment' for buying Russian oil. India termed them as arbitrary and contrary to global trade rules, while many other countries bent their knee and entered into deals with Trump.&nbsp;

US Supreme Court might end or limit Trump tariffs, and India will smile

Maharashtra became the first state in India to partner with billionaire Elon Musk-owned Starlink on Wednesday to deliver satellite-based Internet Connectivity Across Remote and Underserved Regions. Maharashtra government signed a Letter of Intent with Starlink Satellite Communications Private Limited to deploy satellite-based internet services for government institutions, rural communities, and critical public infrastructure. This will be subject to Starlink’s regulatory and compliance clearances from the Government of India. The announcement was made by Maharashtra Chief Minister Devendra Fadnavis, who referred to Musk’s Starlink as one of the biggest players in the Information Communication Technology (ICT) Industry.&nbsp;Fadnavis said the services would also be extended across “remote and underserved regions and aspirational districts” like Gadchiroli, Nandurbar, Washim and Dharashiv.&nbsp;&nbsp;

<blockquote class="twitter-tweet">BIG NEWS! Maharashtra Becomes India&#39;s First State to Partner with Starlink! It was wonderful to welcome Ms. Lauren Dreyer, Vice President, Starlink in Mumbai today, where the Government of Maharashtra signed a Letter of Intent (LOI) with Starlink Satellite Communications Private… <a href="https://t.co/8777O45ivq">pic.twitter.com/8777O45ivq</a>&mdash; Devendra Fadnavis (@Dev_Fadnavis) <a href="https://twitter.com/Dev_Fadnavis/status/1986015372613673204?ref_src=twsrc%5Etfw">November 5, 2025</a></blockquote> <script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>

&nbsp;&nbsp;“With @Starlink’s cutting-edge satellite technology, led by @elonmusk and @laurendreyer, Maharashtra takes a bold leap forward in bridging the last digital divide—powering education, healthcare, and connectivity in every corner of our State,” Maharashtra CMO wrote in a post on X.&nbsp;Also Read: <a href="https://www.wionews.com/world/indian-origin-cincinnati-mayor-aftab-pureval-wins-second-term-vanquishes-jd-vance-s-half-brother-1762347016439">Indian-origin Cincinnati Mayor Aftab Pureval wins second term, vanquishes JD Vance’s half-brother</a>&nbsp;The letter of intent (LOI) was signed by Lauren Dreyer, Vice President, Starlink, and Virendra Singh, IAS, Secretary, Department of Information Technology, Government of Maharashtra, in the presence of Fadnavis to expand high-speed internet access across rural and remote regions.&nbsp;&nbsp;

<blockquote class="twitter-tweet">Maharashtra poised to become the first Indian state to formally collaborate with Starlink to deploy satellite-based internet services. This collaboration with one of the largest companies in the ICT industry holding the largest number of communication satellites in the world will… <a href="https://t.co/9QL2OBkgoZ">pic.twitter.com/9QL2OBkgoZ</a>&mdash; CMO Maharashtra (@CMOMaharashtra) <a href="https://twitter.com/CMOMaharashtra/status/1986112159072547103?ref_src=twsrc%5Etfw">November 5, 2025</a></blockquote> <script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>

&nbsp;&nbsp;The move is part of the state’s Digital Maharashtra mission and aims to strengthen digital connectivity in areas with limited network access“Elon Musk’s Starlink is one of the largest companies in the ICT industry holding the largest number of communication satellites in the world. It is our honour that the company is arriving in India and partnering with Maharashtra. This is a giant leap towards future-ready Maharashtra and setting the benchmark for Hon PM Narendra Modi Ji’s Digital India mission at the grassroots,” Fadnavis wrote on X.&nbsp;&nbsp;

<blockquote class="twitter-tweet">Star Link reaches Maharashtra 📡 History created! Star Link is all set to come to Maharashtra for high-speed satellite internet to every remote village, tribal school, and health centre in Maharashtra. With this partnership, Maharashtra will bridge the digital divide and lead… <a href="https://t.co/f6a0Fb8YaW">pic.twitter.com/f6a0Fb8YaW</a>&mdash; CMO Maharashtra (@CMOMaharashtra) <a href="https://twitter.com/CMOMaharashtra/status/1986036788927037699?ref_src=twsrc%5Etfw">November 5, 2025</a></blockquote> <script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>

&nbsp;&nbsp;The Department of Telecommunications (DoT) had granted the Global Mobile Personal Communication by Satellite (GMPCS) licence to Starlink earlier this year in June, after it completed all security requirements as mentioned in its letter of intent.&nbsp;Also Read: <a href="https://www.wionews.com/world/indian-american-lawyer-neal-katyal-to-argue-against-trump-s-tariffs-in-us-supreme-court-1762283120852">Indian-American lawyer Neal Katyal to argue against Trump’s tariffs in US Supreme Court</a>&nbsp;Starlink has now become the third satcom company to get a GMPCS licence after Eutelsat’s OneWeb and Reliance Jio to provide services in the country.&nbsp;V-P Dreyer lauded the collaboration and said that Starlink’s mission is to connect those who have been left behind.“We pride ourselves in providing high speed connectivity whatever their background and wherever people are. We are therefore honoured to collaborate with the Government of Maharashtra in this first-of-its-kind initiative. Starlink’s mission, which is complementary to other government initiatives and providers, is to connect those who have been left behind by traditional infrastructure,” she added.&nbsp;Also Read: <a href="https://www.wionews.com/world/ukraine-to-replace-kopeck-coins-with-shah-in-another-bid-to-break-away-from-russia-1762353636573">Ukraine to replace kopeck coins with ‘shah’ in another bid to break away from Russia</a>&nbsp;Tesla CEO, Elon Musk had previously met Prime Minister Narendra Modi in February during the latter’s visit to the United States, where the two discussed Starlink’s launch plans and India’s concerns over meeting certain security conditions.

Maharashtra CM Devendra Fadnavis said Musk’s Starlink is one of the biggest players in the Information Communication Technology Industry and its services would be extended across “remote and underserved regions and aspirational districts” like Gadchiroli, Nandurbar, Washim and Dharashiv.

Maharashtra became the first state in India to partner with billionaire Elon Musk-owned Starlink on Wednesday to deliver satellite-based Internet Connectivity Across Remote and Underserved Regions. Maharashtra government signed a Letter of Intent with Starlink Satellite Communications Private Limited to deploy satellite-based internet services for government institutions, rural communities, and critical public infrastructure. This will be subject to Starlink’s regulatory and compliance clearances from the Government of India. The announcement was made by Maharashtra Chief Minister Devendra Fadnavis, who referred to Musk’s Starlink as one of the biggest players in the Information Communication Technology (ICT) Industry. Fadnavis said the services would also be extended across “remote and underserved regions and aspirational districts” like Gadchiroli, Nandurbar, Washim and Dharashiv.

Maharashtra CM Devendra Fadnavis said Musk’s Starlink is one of the biggest players in the Information Communication Technology Industry and its services would be extended across “remote and underserved regions and aspirational districts” like Gadchiroli, Nandurbar, Washim and Dharashiv.

Maharashtra becomes first state in India to sign deal with Elon Musk’s Starlink

Elitecon International, a homegrown FMCG and tobacco export company, reported exceptional financial results for the July-September period, with a nearly three-times leap in net profit and a 6.4 times increase in sales. Elitecon’s standalone net for the quarter ending on September 30, 2025, stood at Rs 20.2 crore, registering a sharp rise of 2.4 times over the corresponding period a year ago, according to a regulatory filing.&nbsp;&nbsp;Elitecon International’s sales grew 6.4 times on a year-on-year basis to Rs 504.9 crore, marking a meteoric 538 per cent rise over the same period in the last financial year. In the quarter that ended September 30, 2024, the firm’s FMCG exports had registered a net profit of Rs 199.2 crore.&nbsp;<h2>Elitecon International Q2 FY26: Operational performance</h2>&nbsp;Elitecon logged Rs 43.9 crore in its second-quarter earnings before interest, taxes, depreciation, and amortisation (EBITDA). The company said that the strong financial performance reflects its sustained ability to convert operational scale into sustainable value creation.It further said that the stellar increase in revenue and profitability demonstrates its enhanced market penetration and cost efficiency, besides its successful diversification into higher-margin FMCG segments, and noted that “for shareholders and investors, these results imply stronger fundamentals, greater earnings visibility, and a well-defined trajectory towards long-term growth.”&nbsp;With a healthy balance sheet and expanding global footprint, Elitecon International remains well-positioned to deliver consistent returns in the quarters ahead and reinforce the confidence of investors.“Our second quarter results demonstrate the power of our transformation strategy,” said Vipin Sharma, Managing Director, Elitecon International.“We are seeing consistent traction across domestic and global markets, supported by capacity expansion, operational efficiency, and a sharp focus on value creation,” the MD added.&nbsp;Over the years, Elitecon International has developed into a diversified FMCG and global trade enterprise, with operations covering more than 50 countries, including the UAE, the UK, and Singapore.Elitecon International’s subsidiary, Golden Cryo Pvt Ltd, has become a fast-growing player in the FMCG space, and is delivering rice, pulses, sauces, dry fruits, and lifestyle beverages across more than 32 international markets.&nbsp;<h2>Elaborate plan for robust expansion</h2>&nbsp;Elitecon International has a robust expansion plan in consonance with its strong performance which includes launching proprietary food brands, scaling export-ready manufacturing, and adopting Artificial Intelligence and Machine Learning-driven production and compliance systems.&nbsp;<h2>Elitecon International announces dividend</h2>&nbsp;The company declared a dividend of five paise per equity share—a five per cent payout given its face value of Re 1 per equity share.The Elitecon International board has fixed November 12 as the record date for the dividend.&nbsp;<h2>Elitecon shares rise, outperform market</h2>&nbsp;Elitecon International shares jumped 4.3 per cent on Tuesday and closed at Rs 162.8 apiece on BSE, outperforming a Mumbai market whose benchmark indices fell about half a per cent each.

Elitecon International, a homegrown FMCG and tobacco export company, revealed its financial results for the July-September period, logging a three-fold surge in net profit and a 6.4 times surge in total sales.

Elitecon International, a homegrown FMCG and tobacco export company, reported exceptional financial results for the July-September period, with a nearly three-times leap in net profit and a 6.4 times increase in sales. Elitecon’s standalone net for the quarter ending on September 30, 2025, stood at Rs 20.2 crore, registering a sharp rise of 2.4 times over the corresponding period a year ago, according to a regulatory filing. Elitecon International’s sales grew 6.4 times on a year-on-year basis to Rs 504.9 crore, marking a meteoric 538 per cent rise over the same period in the last financial year. In the quarter that ended September 30, 2024, the firm’s FMCG exports had registered a net profit of Rs 199.2 crore. Elitecon International Q2 FY26: Operational performance Elitecon logged Rs 43.9 crore in its second-quarter earnings before interest, taxes, depreciation, and amortisation (EBITDA). The company said that the strong financial performance reflects its sustained ability to convert operational scale into sustainable value creation. It further said that the stellar increase in revenue and profitability demonstrates its enhanced market penetration and cost efficiency, besides its successful diversification into higher-margin FMCG segments, and noted that “for shareholders and investors, these results imply stronger fundamentals, greater earnings visibility, and a well-defined trajectory towards long-term growth.” With a healthy balance sheet and expanding global footprint, Elitecon International remains well-positioned to deliver consistent returns in the quarters ahead and reinforce the confidence of investors. “Our second quarter results demonstrate the power of our transformation strategy,” said Vipin Sharma, Managing Director, Elitecon International. “We are seeing consistent traction across domestic and global markets, supported by capacity expansion, operational efficiency, and a sharp focus on value creation,” the MD added. Over the years, Elitecon International has developed into a diversified FMCG and global trade enterprise, with operations covering more than 50 countries, including the UAE, the UK, and Singapore. Elitecon International’s subsidiary, Golden Cryo Pvt Ltd, has become a fast-growing player in the FMCG space, and is delivering rice, pulses, sauces, dry fruits, and lifestyle beverages across more than 32 international markets. Elaborate plan for robust expansion Elitecon International has a robust expansion plan in consonance with its strong performance which includes launching proprietary food brands, scaling export-ready manufacturing, and adopting Artificial Intelligence and Machine Learning-driven production and compliance systems. Elitecon International announces dividend The company declared a dividend of five paise per equity share—a five per cent payout given its face value of Re 1 per equity share. The Elitecon International board has fixed November 12 as the record date for the dividend. Elitecon shares rise, outperform market Elitecon International shares jumped 4.3 per cent on Tuesday and closed at Rs 162.8 apiece on BSE, outperforming a Mumbai market whose benchmark indices fell about half a per cent each.

Elitecon International news: The company's second-quarter earnings before interest, taxes, depreciation, and amortisation (EBITDA) were Rs 43.9 crore.&nbsp;

Elitecon International registers stellar Q2 performance; PAT doubles, sales surge over 6 times

Paris prosecutors began a probe against Asian e-commerce giant Shein, along with Temu, AliExpress and Wish in France after childlike sex dolls had been found on Shein's platform. In response, Shein promised to cooperate fully with the officials, and AliExpress assured that it will take the matter very seriously.&nbsp;Shein spokesperson Quentin Ruffat assured that the company would share details about the sellers, buyers, and products involved in the case. Meanwhile, Temu stated that it was not involved in selling the items on its platform, adding that it was working with French authorities "to reinforce our minor protection mechanism".&nbsp;Shein, widely recognised for its low-cost, trend-driven clothing, has long faced criticism for its environmental footprint and labour practices. Ahead of the brand’s BHV store opening, protesters gathered outside the Paris department store.&nbsp;Frédéric Merlin, head of SGM, which operates BHV, admitted he had considered terminating the partnership but said Shein’s response “convinced me to continue,” expressing confidence in the items it planned to sell. "The clothes we're going to sell do not exploit workers or children," French radio told the BBC.<h3>Three e-commerce platforms were being investigated&nbsp;</h3>The Paris prosecutor's office stated that Shein and the other three e-commerce platforms were being probed in connection to violent, pornographic or "undignified messages" that could be accessed by minors.&nbsp;Shein and AliExpress are also being investigated for allegedly distributing child-related pornographic material, according to the Paris prosecutor’s office. The cases have been handed over to the Paris Office des Mineurs, a branch of the French police responsible for safeguarding minors.&nbsp;AliExpress stated that the listings in question breached its policies and were promptly removed once the company became aware of them. "Sellers found to violate or trying to circumvent these requirements will be penalised in accordance with our rules," AliExpress said in a statement.&nbsp;Meanwhile, Shein confirmed that it had prohibited the sale of all sex dolls on its e-commerce platform globally. The retailer based in Singapore also stated that it would permanently block all seller accounts in connection with the illegal sale of those items and set stringent controls on its platform.&nbsp;The Directorate General for Competition, Consumer Affairs and Fraud Control, also known as the French consumer watchdog, had said the sex dolls' description and categorisation left "little suspicious about the child pornography nature" of the products.

The Paris prosecutor's office stated that Shein and the other three e-commerce platforms were being probed in connection with violent, pornographic or "undignified messages" that could be accessed by minors.

Paris prosecutors began a probe against Asian e-commerce giant Shein, along with Temu, AliExpress and Wish in France after childlike sex dolls had been found on Shein's platform. In response, Shein promised to cooperate fully with the officials, and AliExpress assured that it will take the matter very seriously. Shein spokesperson Quentin Ruffat assured that the company would share details about the sellers, buyers, and products involved in the case. Meanwhile, Temu stated that it was not involved in selling the items on its platform, adding that it was working with French authorities "to reinforce our minor protection mechanism". Shein, widely recognised for its low-cost, trend-driven clothing, has long faced criticism for its environmental footprint and labour practices. Ahead of the brand’s BHV store opening, protesters gathered outside the Paris department store. Frédéric Merlin, head of SGM, which operates BHV, admitted he had considered terminating the partnership but said Shein’s response “convinced me to continue,” expressing confidence in the items it planned to sell. "The clothes we're going to sell do not exploit workers or children," French radio told the BBC. Three e-commerce platforms were being investigated The Paris prosecutor's office stated that Shein and the other three e-commerce platforms were being probed in connection to violent, pornographic or "undignified messages" that could be accessed by minors. Shein and AliExpress are also being investigated for allegedly distributing child-related pornographic material, according to the Paris prosecutor’s office. The cases have been handed over to the Paris Office des Mineurs, a branch of the French police responsible for safeguarding minors. AliExpress stated that the listings in question breached its policies and were promptly removed once the company became aware of them. "Sellers found to violate or trying to circumvent these requirements will be penalised in accordance with our rules," AliExpress said in a statement. Meanwhile, Shein confirmed that it had prohibited the sale of all sex dolls on its e-commerce platform globally. The retailer based in Singapore also stated that it would permanently block all seller accounts in connection with the illegal sale of those items and set stringent controls on its platform. The Directorate General for Competition, Consumer Affairs and Fraud Control, also known as the French consumer watchdog, had said the sex dolls' description and categorisation left "little suspicious about the child pornography nature" of the products.

The Paris prosecutor's office stated that Shein and the other three e-commerce platforms were being probed in connection with violent, pornographic or "undignified messages" that could be accessed by minors.

Childlike sex dolls on Shein? French authorities launch probe after adult toy found online

Marks and Spencer, the British clothes brand, said on Wednesday that a cyberattack that hit its online service resulted in the loss of profit for the group in the first half of the financial year.&nbsp;Marks and Spencer's net profit plummeted 98 per cent to $8.1 million in the first six months of the financial year, the company said in a statement. The profit for the same time period last year was £282.1 million.&nbsp;Marks and Spencer's online sale was halted for six weeks after cybercriminals stole customer data around Easter. The company's chief executive officer (CEO), Stuart Machin, said in a statement that the first half of the year was an "extraordinary moment in time" for Marks and Spencer.&nbsp;"However, the underlying strength of our business and robust financial foundations gave us the resilience to face the challenge and deal with it," he added.&nbsp;The group says that its second half will be profitable. It also said that the residual effects of the incident continue to reduce in the coming months.&nbsp;The company said in May that the cyberattack could cost the company around £300 million. £101.6 million was spent on dealing with the issue. It is expected that £34 million in losses will be added to the cumulative loss in the second half of the financial year.&nbsp;"Marks &amp; Spencer has laid bare the full impact of a gruelling cyberattack on its earnings," noted Dan Coatsworth, head of markets at AJ Bell.&nbsp;He said the profits plummeted because customers were not able to buy everything they wanted during the summer.&nbsp;It is the second massive cyber attack in the UK this year. The manufacturing in Britain-based carmaker Jaguar Land Rover had stopped for several weeks after a cyber attack. The attack also impacted companies in the carmaker's supply chain. Manufacturing resumed last month.

Marks and Spencer, the British clothes brand, said on Wednesday that a cyberattack that hit its online service resulted in the loss of profit for the group in the first half of the financial year.

Marks and Spencer, the British clothes brand, said on Wednesday that a cyberattack that hit its online service resulted in the loss of profit for the group in the first half of the financial year. Marks and Spencer's net profit plummeted 98 per cent to $8.1 million in the first six months of the financial year, the company said in a statement. The profit for the same time period last year was £282.1 million. Marks and Spencer's online sale was halted for six weeks after cybercriminals stole customer data around Easter. The company's chief executive officer (CEO), Stuart Machin, said in a statement that the first half of the year was an "extraordinary moment in time" for Marks and Spencer. "However, the underlying strength of our business and robust financial foundations gave us the resilience to face the challenge and deal with it," he added. The group says that its second half will be profitable. It also said that the residual effects of the incident continue to reduce in the coming months. The company said in May that the cyberattack could cost the company around £300 million. £101.6 million was spent on dealing with the issue. It is expected that £34 million in losses will be added to the cumulative loss in the second half of the financial year. "Marks & Spencer has laid bare the full impact of a gruelling cyberattack on its earnings," noted Dan Coatsworth, head of markets at AJ Bell. He said the profits plummeted because customers were not able to buy everything they wanted during the summer. It is the second massive cyber attack in the UK this year. The manufacturing in Britain-based carmaker Jaguar Land Rover had stopped for several weeks after a cyber attack. The attack also impacted companies in the carmaker's supply chain. Manufacturing resumed last month.

Marks and Spencer cyber attack: The group says that its second half will be profitable. It also said that the residual effects of the incident continue to reduce in the coming months.

British clothes company Marks and Spencer's profits plummet due to cyberattack

The standoff between US President Donald Trump and congressional Democratic leaders, which triggered the government shutdown, has become the longest government shutdown in the history&nbsp;of America.&nbsp;On Wednesday, the US shutdown entered its 36th day. It also eclipsed the previous longest shutdown of 35 days -- in late 2018 and 2019 -- when Democrats refused to fund Trump's border wall plan.&nbsp;Senator John Kennedy, R-La., said that the standoff disappoints him, reported NBC News. The bad effects of the shutdown are visible, with hundreds of thousands of federal workers not getting paid. Many have turned to food banks to feed their families.&nbsp;Flight delays are also being experienced amid shortages of air traffic controllers and TSA agents.&nbsp;Senate Minority Leader Chuck Schumer, D-NY, called the suffering of the masses sickening.&nbsp;"Across America, appalling scenes were seen of people worried they wouldn’t be able to feed their families and even themselves," he added.&nbsp;However, party leaders on both sides of the spectrum haven't shown any urgency to resolve the standoff.&nbsp;Democrats have been demanding that Donald Trump negotiate with them over expiring health care tax credits.&nbsp;Sen. Chris Murphy, D-Conn., raised concerns about rising health care costs amid the shutdown.&nbsp;"Shutdowns hurt, but the pain that I just heard in Florida is gonna be worse than anything happening with the shutdown, because when those premiums go up by 100 to 200%, those people’s lives are ruined. People will die," he was quoted as saying by NBC.&nbsp;Sen. Gary Peters, D-Mich., however, said that progress was being made.&nbsp;Sen. Susan Collins, R-Maine, echoed the sentiment.&nbsp;"Over the weekend, the staff has worked very hard. Members have worked very hard. I personally have talked to both House and Senate members about a path forward. Democrats are bringing their specific language forward for the first time, and it just feels better this week. Now, who knows? It could all fall apart again, and I don't mean to imply there's an agreement," she added.

The standoff between US President Donald Trump and congressional Democratic leaders, which triggered the government shutdown, has become the longest government shutdown in the history of America.

The standoff between US President Donald Trump and congressional Democratic leaders, which triggered the government shutdown, has become the longest government shutdown in the history of America. On Wednesday, the US shutdown entered its 36th day. It also eclipsed the previous longest shutdown of 35 days -- in late 2018 and 2019 -- when Democrats refused to fund Trump's border wall plan. Senator John Kennedy, R-La., said that the standoff disappoints him, reported NBC News. The bad effects of the shutdown are visible, with hundreds of thousands of federal workers not getting paid. Many have turned to food banks to feed their families. Flight delays are also being experienced amid shortages of air traffic controllers and TSA agents. Senate Minority Leader Chuck Schumer, D-NY, called the suffering of the masses sickening. "Across America, appalling scenes were seen of people worried they wouldn’t be able to feed their families and even themselves," he added. However, party leaders on both sides of the spectrum haven't shown any urgency to resolve the standoff. Democrats have been demanding that Donald Trump negotiate with them over expiring health care tax credits. Sen. Chris Murphy, D-Conn., raised concerns about rising health care costs amid the shutdown. "Shutdowns hurt, but the pain that I just heard in Florida is gonna be worse than anything happening with the shutdown, because when those premiums go up by 100 to 200%, those people’s lives are ruined. People will die," he was quoted as saying by NBC. Sen. Gary Peters, D-Mich., however, said that progress was being made. Sen. Susan Collins, R-Maine, echoed the sentiment. "Over the weekend, the staff has worked very hard. Members have worked very hard. I personally have talked to both House and Senate members about a path forward. Democrats are bringing their specific language forward for the first time, and it just feels better this week. Now, who knows? It could all fall apart again, and I don't mean to imply there's an agreement," she added.

US shutdown: The bad effects of the shutdown are visible, with hundreds of thousands of federal workers not getting paid. Many have turned to food banks to feed their families.

Longest-ever US shutdown upends lives, lawmakers hope for a breakthrough

At a time when the world grapples with the potential loss of jobs because of generative artificial intelligence, India has emerged as the frontrunner in adopting the new technology, with 92 per cent of employees using AI-based tools. Per a report, India is outpacing the Asia Pacific region when it comes to AI adoption.&nbsp;Boston Consulting Group's (BCG) latest report on AI adoption says that 78 per cent of workers are embracing AI regularly. Globally, 72 per cent of workers have adopted AI in their workflow.&nbsp;The study said that workers in the region are not only more willing to use AI but are also more optimistic about its potential, despite rising fears about job security.&nbsp;It said that 60 per cent of people in the Asia Pacific region have a positive outlook on the adoption of artificial intelligence. It said only 52 per cent are worried about their job prospects in the future.&nbsp;Nipun Kalra, India Leader, BCG X, BCG, said India's AI adoption rate was the highest in the&nbsp;Asia Pacific region. He said it signals not just enthusiasm but readiness for the next phase of transformation.&nbsp;He said 58 per cent of frontline workers have been asked to use AI, which is nearly double the figure for the region.&nbsp;Seventy per cent of frontline employees in the region now use AI weekly or more, compared to just 51 per cent globally, the report added.&nbsp;He said 73 per cent of employees believe AI agents will play a major role in the next three to five years.&nbsp;He said 58 per cent of workers use AI tools without the company's approval.&nbsp;"This report offers a clear view of how organizations can move from experimenting with AI to truly reimagining their operating models," Kalra added.&nbsp;

At a time when the world grapples with the potential loss of jobs because of generative artificial intelligence, India has emerged as the frontrunner in adopting the new technology, with 92 per cent of employees using AI-based tools. 

At a time when the world grapples with the potential loss of jobs because of generative artificial intelligence, India has emerged as the frontrunner in adopting the new technology, with 92 per cent of employees using AI-based tools. Per a report, India is outpacing the Asia Pacific region when it comes to AI adoption. Boston Consulting Group's (BCG) latest report on AI adoption says that 78 per cent of workers are embracing AI regularly. Globally, 72 per cent of workers have adopted AI in their workflow. The study said that workers in the region are not only more willing to use AI but are also more optimistic about its potential, despite rising fears about job security. It said that 60 per cent of people in the Asia Pacific region have a positive outlook on the adoption of artificial intelligence. It said only 52 per cent are worried about their job prospects in the future. Nipun Kalra, India Leader, BCG X, BCG, said India's AI adoption rate was the highest in the Asia Pacific region. He said it signals not just enthusiasm but readiness for the next phase of transformation. He said 58 per cent of frontline workers have been asked to use AI, which is nearly double the figure for the region. Seventy per cent of frontline employees in the region now use AI weekly or more, compared to just 51 per cent globally, the report added. He said 73 per cent of employees believe AI agents will play a major role in the next three to five years. He said 58 per cent of workers use AI tools without the company's approval. "This report offers a clear view of how organizations can move from experimenting with AI to truly reimagining their operating models," Kalra added.

Artificial Intelligence news: The study said that workers in the region are not only more willing to use AI but are also more optimistic about its potential, despite rising fears about job security.

At 92 per cent, India's AI adoption rate highest in the Asia-Pacific region | Key figures

The State Bank of India (SBI) stated in a report that the Indian government should establish a policy that defines gold as a form of currency. It stated that the policy must clarify whether the precious metal is treated as a commodity or money, and how the country's people perceive it.&nbsp;The report noted that in Western countries, gold has achieved the status of public property, unlike nations like India, Japan, South Korea, and China, where gold is viewed as private investment.&nbsp;The report further said that there should be guidelines for the perception of gold.&nbsp;"The time has now come to conceive a comprehensive policy on gold, and for such, it is important that one defines what gold is (commodity or money) and how gold is perceived by its ultimate consumer," it added.&nbsp;India's gold policy currently focuses on reducing the demand for the metal and recycling existing stocks for use.&nbsp;The report said monetizing gold can have a positive impact on investments because the metal represents a source of funds without contributing to capital formation.&nbsp;The report further said that China's central bank holds a whopping 2300 tonnes of gold. India holds only 880 tonnes of the metal.&nbsp;Chinese households hold less than an average of 10 grams of gold, whereas Indian families hold 25 grams of the metal.&nbsp;Commercial banks in China are involved in gold operations at various levels along the production and supply chain. In India, banks are largely restricted to financing the gems and jewelry sector, exporters, and gold deposits.&nbsp;China is also the largest producer of gold in the world. In India, experts predict that gold reserves are available for mining in Madhya Pradesh, Odisha, and Andhra Pradesh.&nbsp;The report said India's policies on gold revolved around six elements -- encouraging people to invest in other asset classes, regulating gold supply, curbing smuggling, reducing household demand for physical gold, keeping domestic gold prices low, and ensuring exchange rate stability and financial balance.&nbsp;However, these measures were aimed at reducing the demand for physical gold and were short-term in nature.&nbsp;It said in India's gold policy, the importance of the metal in geopolitics wasn't discussed.

The State Bank of India (SBI) said in a report that the Indian government must frame a policy that defines the nature of gold as currency. 

The State Bank of India (SBI) stated in a report that the Indian government should establish a policy that defines gold as a form of currency. It stated that the policy must clarify whether the precious metal is treated as a commodity or money, and how the country's people perceive it. The report noted that in Western countries, gold has achieved the status of public property, unlike nations like India, Japan, South Korea, and China, where gold is viewed as private investment. The report further said that there should be guidelines for the perception of gold. "The time has now come to conceive a comprehensive policy on gold, and for such, it is important that one defines what gold is (commodity or money) and how gold is perceived by its ultimate consumer," it added. India's gold policy currently focuses on reducing the demand for the metal and recycling existing stocks for use. The report said monetizing gold can have a positive impact on investments because the metal represents a source of funds without contributing to capital formation. The report further said that China's central bank holds a whopping 2300 tonnes of gold. India holds only 880 tonnes of the metal. Chinese households hold less than an average of 10 grams of gold, whereas Indian families hold 25 grams of the metal. Commercial banks in China are involved in gold operations at various levels along the production and supply chain. In India, banks are largely restricted to financing the gems and jewelry sector, exporters, and gold deposits. China is also the largest producer of gold in the world. In India, experts predict that gold reserves are available for mining in Madhya Pradesh, Odisha, and Andhra Pradesh. The report said India's policies on gold revolved around six elements -- encouraging people to invest in other asset classes, regulating gold supply, curbing smuggling, reducing household demand for physical gold, keeping domestic gold prices low, and ensuring exchange rate stability and financial balance. However, these measures were aimed at reducing the demand for physical gold and were short-term in nature. It said in India's gold policy, the importance of the metal in geopolitics wasn't discussed.

SBI report on gold: The report noted that in Western countries, gold has achieved the status of public property, unlike nations like India, Japan, South Korea, and China, where gold is viewed as private investment.

India needs a policy to define gold as a commodity or money: Report

The sharp rise in GST collections at the onset of the recent GST rate rationalisation in late September 2025 indicates sustained consumer demand during the festive season, according to a government statement on Sunday.&nbsp;"The steady performance of the Indian economy demonstrates the resilience of India’s domestic consumption and the expanding tax base under the GST regime," the statement from PIB Headquarters titled "GST Revenue Soars in October 2025" read.&nbsp;Gross Goods and Services Tax (GST) collections for October 2025 stood at Rs 1,95,936 crore, marking a 4.6 per cent rise from Rs 1,87,346 crore collected in the same month last year. In the month of October, collections of Central-GST, State-GST, and Integrated-GST rose year-on-year, while cess collections dipped year-on-year, data showed.&nbsp;According to official data, the gross GST revenue for the financial year up to October 2025 reached Rs 10,40,055 crore, compared to Rs 9,65,138 crore in the same period a year ago, representing an overall yearly growth of 7.8 per cent.&nbsp;Within the total, domestic revenues grew by two per cent from Rs 1,42,251 crore in October 2024 to Rs 1,45,052 crore in October 2025, while revenue from imports showed an increase of 12.9 per cent, suggesting stronger trade flows and import activity during the month.&nbsp;So far in 2025-26 - April-October, the GST collections rose 9.0 per cent to about Rs 13.89 lakh crore, as against Rs 12.74 lakh crore in the same period last fiscal.&nbsp;In this case also, all components - CGST, SGST, IGST- rose, while cess declined.&nbsp;Refunds under GST also saw a notable increase. The total refunds rose by 39.6 per cent, with domestic refunds growing by 26.5 per cent and import-related refunds increasing by 55.3 per cent. Refunds on the domestic front moved up from Rs 10,484 crore in October 2024 to Rs 13,260 crore in October 2025, while import refunds rose from Rs 8,808 crore to Rs 13,675 crore.&nbsp;After accounting for refunds, the total net GST revenue for October 2025 stood at Rs 1,69,002 crore. This marks a marginal monthly rise of 0.6 per cent and a yearly increase of 7.1 per cent compared to Rs 1,68,054 crore during October 2024.&nbsp;The government data further show that industrial and service-oriented states, such as Maharashtra, Karnataka, Gujarat, Tamil Nadu, and Haryana, together contributed over 40 per cent of the total GST revenue, underscoring their role as key economic hubs.&nbsp;The government statement highlighted that state-wise trends reflected broad-based growth across regions, both in pre-settlement and post-settlement GST revenues. Post-settlement figures include each state’s share of the Integrated GST (IGST), further strengthening their fiscal position.

The sharp rise in GST collections at the onset of the recent GST rate rationalisation in late September 2025 indicates sustained consumer demand during the festive season, according to a government statement on Sunday.

The sharp rise in GST collections at the onset of the recent GST rate rationalisation in late September 2025 indicates sustained consumer demand during the festive season, according to a government statement on Sunday. "The steady performance of the Indian economy demonstrates the resilience of India’s domestic consumption and the expanding tax base under the GST regime," the statement from PIB Headquarters titled "GST Revenue Soars in October 2025" read. Gross Goods and Services Tax (GST) collections for October 2025 stood at Rs 1,95,936 crore, marking a 4.6 per cent rise from Rs 1,87,346 crore collected in the same month last year. In the month of October, collections of Central-GST, State-GST, and Integrated-GST rose year-on-year, while cess collections dipped year-on-year, data showed. According to official data, the gross GST revenue for the financial year up to October 2025 reached Rs 10,40,055 crore, compared to Rs 9,65,138 crore in the same period a year ago, representing an overall yearly growth of 7.8 per cent. Within the total, domestic revenues grew by two per cent from Rs 1,42,251 crore in October 2024 to Rs 1,45,052 crore in October 2025, while revenue from imports showed an increase of 12.9 per cent, suggesting stronger trade flows and import activity during the month. So far in 2025-26 - April-October, the GST collections rose 9.0 per cent to about Rs 13.89 lakh crore, as against Rs 12.74 lakh crore in the same period last fiscal. In this case also, all components - CGST, SGST, IGST- rose, while cess declined. Refunds under GST also saw a notable increase. The total refunds rose by 39.6 per cent, with domestic refunds growing by 26.5 per cent and import-related refunds increasing by 55.3 per cent. Refunds on the domestic front moved up from Rs 10,484 crore in October 2024 to Rs 13,260 crore in October 2025, while import refunds rose from Rs 8,808 crore to Rs 13,675 crore. After accounting for refunds, the total net GST revenue for October 2025 stood at Rs 1,69,002 crore. This marks a marginal monthly rise of 0.6 per cent and a yearly increase of 7.1 per cent compared to Rs 1,68,054 crore during October 2024. The government data further show that industrial and service-oriented states, such as Maharashtra, Karnataka, Gujarat, Tamil Nadu, and Haryana, together contributed over 40 per cent of the total GST revenue, underscoring their role as key economic hubs. The government statement highlighted that state-wise trends reflected broad-based growth across regions, both in pre-settlement and post-settlement GST revenues. Post-settlement figures include each state’s share of the Integrated GST (IGST), further strengthening their fiscal position.

Gross Goods and Services Tax (GST) collections for October 2025 stood at Rs 1,95,936 crore, marking a 4.6 per cent rise from Rs 1,87,346 crore collected in the same month last year.

GST numbers post rate cut reflect sustained consumer demand in October: Govt

Gopichand P Hinduja, a renowned industrialist, has passed away in London. He was 85. The Indian-British billionaire was the chairman of the Hinduja Group.&nbsp;&nbsp;Hinduja, born in 1940, was known for transforming his family business. He was fondly called GP in business circles.<h2>Who was Gopichand P Hinduja?</h2>Gopichand P Hinduja was known for transforming the family business from a trading&nbsp;operation into a multi-billion-dollar conglomerate.&nbsp;He made several decisions that helped his business become a transnational behemoth. In 1984, the group acquired Gulf Oil. Three years later, it acquired&nbsp;commercial vehicle maker Ashok Leyland.&nbsp;Ashok Leyland is one of India's largest manufacturers of trucks and buses.&nbsp;He also helped his family business enter the Power and Infrastructure sectors. He graduated from Mumbai's Jai Hind College in 1959. He then studied law at the University of Westminster and Economics at Richmond College, London.<h2>Andhra Pradesh Chief Minister N Chandrababu condoles Gopichand P Hinduja's death</h2>Andhra Pradesh Chief Minister N Chandrababu condoled his death. He called him a visionary industrialist and lauded his contribution in making the Hinduja Group a global conglomerate.&nbsp;"Deeply saddened by the passing of Shri Gopichand P. Hinduja, Chairman of the Hinduja Group. A visionary industrialist, he was instrumental in transforming the Group into a truly global conglomerate. His leadership saw landmark achievements, from the acquisition of Gulf Oil in 1984 to the revival of Ashok Leyland. He also guided the Group's entry into the power and infrastructure sectors. My heartfelt condolences to his family, friends, and the entire Hinduja Group. May his legacy continue to inspire generations," N Chandrababu Naidu posted on X.

Gopichand P Hinduja, a renowned industrialist, has passed away in London. He was 85. The Indian-British billionaire was the chairman of the Hinduja Group. 

Gopichand P Hinduja, a renowned industrialist, has passed away in London. He was 85. The Indian-British billionaire was the chairman of the Hinduja Group. Hinduja, born in 1940, was known for transforming his family business. He was fondly called GP in business circles. Who was Gopichand P Hinduja? Gopichand P Hinduja was known for transforming the family business from a trading operation into a multi-billion-dollar conglomerate. He made several decisions that helped his business become a transnational behemoth. In 1984, the group acquired Gulf Oil. Three years later, it acquired commercial vehicle maker Ashok Leyland. Ashok Leyland is one of India's largest manufacturers of trucks and buses. He also helped his family business enter the Power and Infrastructure sectors. He graduated from Mumbai's Jai Hind College in 1959. He then studied law at the University of Westminster and Economics at Richmond College, London. Andhra Pradesh Chief Minister N Chandrababu condoles Gopichand P Hinduja's death Andhra Pradesh Chief Minister N Chandrababu condoled his death. He called him a visionary industrialist and lauded his contribution in making the Hinduja Group a global conglomerate. "Deeply saddened by the passing of Shri Gopichand P. Hinduja, Chairman of the Hinduja Group. A visionary industrialist, he was instrumental in transforming the Group into a truly global conglomerate. His leadership saw landmark achievements, from the acquisition of Gulf Oil in 1984 to the revival of Ashok Leyland. He also guided the Group's entry into the power and infrastructure sectors. My heartfelt condolences to his family, friends, and the entire Hinduja Group. May his legacy continue to inspire generations," N Chandrababu Naidu posted on X.

Gopichand P Hinduja graduated from Mumbai's Jai Hind College in 1959. He made several decisions that helped his business become a transnational behemoth.&nbsp;

Hinduja Group's Gopichand Hinduja passes away in London

The Director General of Civil Aviation (DGCA), India's civil aviation regulator, has proposed the introduction of a 48-hour look-in window during which cancellation or amendment of the ticket will not attract additional charges. The&nbsp;body&nbsp;has sought public opinions&nbsp;on the proposal till November 30.&nbsp;The draft of the proposal, accessed by the Economic Times, says that a large number of complaints&nbsp;over ticket&nbsp;charges and refunds had been received. The complaints were linked to -- a delay in refund of unused tickets; the amount which is refunded by the airlines against cancelled tickets; the policy of not to refund the ticket amount but to adjust against tickets to be purchased by the passenger for future travel in the same airline that is valid for a limited period of time.<h2>Here are some of DGCA's proposed points:</h2><ol><li>DGCA has proposed&nbsp;that airlines provide a 48-hour window after a ticket is booked. During this period, passengers will be allowed to cancel or alter their tickets without additional fees.</li><li>DGCA further said that the facility will not be applicable for flights departing within 5 days for domestic flights and 15 days for international flights from the booking date.</li><li>Under the proposal, airlines won't be able to charge anything from passengers for making corrections to the spelling of their names.</li><li>In case of credit card payments, a refund must be made within seven days of the cancellation. For cash payments, a refund must be made immediately from the place where the ticket was purchased.</li><li>If the ticket is purchased through agents, the onus of the purchase will be on the airlines because agents are their representatives. In these cases, the refund process will have to be completed within 21 working days.</li><li>The proposal also said that the airlines should refund taxes, User Development Fee (UDF)/Airport Development Fee (ADF)/Passenger Service Fee (PSF) to the passengers in case of cancellation or non-utilization of tickets or in case of no show, reported ET.</li></ol>

The Director General of Civil Aviation (DGCA), India's civil aviation regulator, has proposed the introduction of a 48-hour look-in window during which cancellation or amendment of the ticket will not attract additional charges. 

The Director General of Civil Aviation (DGCA), India's civil aviation regulator, has proposed the introduction of a 48-hour look-in window during which cancellation or amendment of the ticket will not attract additional charges. The body has sought public opinions on the proposal till November 30. The draft of the proposal, accessed by the Economic Times, says that a large number of complaints over ticket charges and refunds had been received. The complaints were linked to -- a delay in refund of unused tickets; the amount which is refunded by the airlines against cancelled tickets; the policy of not to refund the ticket amount but to adjust against tickets to be purchased by the passenger for future travel in the same airline that is valid for a limited period of time. Here are some of DGCA's proposed points: DGCA has proposed that airlines provide a 48-hour window after a ticket is booked. During this period, passengers will be allowed to cancel or alter their tickets without additional fees. DGCA further said that the facility will not be applicable for flights departing within 5 days for domestic flights and 15 days for international flights from the booking date. Under the proposal, airlines won't be able to charge anything from passengers for making corrections to the spelling of their names. In case of credit card payments, a refund must be made within seven days of the cancellation. For cash payments, a refund must be made immediately from the place where the ticket was purchased. If the ticket is purchased through agents, the onus of the purchase will be on the airlines because agents are their representatives. In these cases, the refund process will have to be completed within 21 working days. The proposal also said that the airlines should refund taxes, User Development Fee (UDF)/Airport Development Fee (ADF)/Passenger Service Fee (PSF) to the passengers in case of cancellation or non-utilization of tickets or in case of no show, reported ET.

DGCA's proposed rules: DGCA has proposed&nbsp;that airlines provide a 48-hour window after a ticket is booked. During this period, passengers will be allowed to cancel or alter their tickets without additional fees.

No cancellation fee if air ticket is cancelled within 48 hours: DGCA proposal

Government's Principal Scientific Adviser, Ajay Kumar Sood, has stressed the importance of achieving&nbsp;technological sovereignty, saying the feat is important&nbsp;for the&nbsp;strategic autonomy of a country. He said that the private sector must join the government in the research and development fields to&nbsp;synergise the entire R&amp;D system.&nbsp;His remark came a day after Prime Minister Narendra Modi launched the&nbsp;Research, Development, and Innovation scheme.&nbsp;"We need to have technological sovereignty, which is absolutely essential for the strategic autonomy of a country. We need to see how the private sector R&amp;D can join the government support through ANRF (Anusandhan National Research Foundation) and RDI (Research, Development and Innovation) Scheme to really synergise the entire R&amp;D system," Sood said.<h2>RDI scheme</h2>The Research, Development and Innovation (RDI) Fund is a scheme with a corpus of Rs one lakh crore aimed at boosting private sector investment in research and development.&nbsp;He said PM Modi has given a&nbsp;roadmap and a vision of how technology can benefit society. He added that&nbsp;technology has become important for every aspect of national growth.&nbsp;He further said that the&nbsp;Research, Development and Innovation (RDI) scheme will be a&nbsp;game changer and that the initiatives will help synergise the public and private R&amp;D ecosystems and accelerate the country's technological capabilities.&nbsp;He said the fund will help build&nbsp;cutting-edge and futuristic technologies.&nbsp;He also called for&nbsp;deeper engagement of Tier-II and Tier-III institutions to ensure that innovation is not limited to elite centres.&nbsp;"How do we bring Tier-II and Tier-III institutions as much into the play as Tier-I, and really, we are seeing where policy intervention is needed to address it. All this is making a roadmap to take us forward," he added.&nbsp;He noted that in India, hundreds of startups have come up, which are carrying out research in&nbsp;rockets, satellites, and the utilization of data.

Government's Principal Scientific Adviser, Ajay Kumar Sood, has stressed the importance of achieving technological sovereignty, saying the feat is important for the strategic autonomy of a country.

Government's Principal Scientific Adviser, Ajay Kumar Sood, has stressed the importance of achieving technological sovereignty, saying the feat is important for the strategic autonomy of a country. He said that the private sector must join the government in the research and development fields to synergise the entire R&D system. His remark came a day after Prime Minister Narendra Modi launched the Research, Development, and Innovation scheme. "We need to have technological sovereignty, which is absolutely essential for the strategic autonomy of a country. We need to see how the private sector R&D can join the government support through ANRF (Anusandhan National Research Foundation) and RDI (Research, Development and Innovation) Scheme to really synergise the entire R&D system," Sood said. RDI scheme The Research, Development and Innovation (RDI) Fund is a scheme with a corpus of Rs one lakh crore aimed at boosting private sector investment in research and development. He said PM Modi has given a roadmap and a vision of how technology can benefit society. He added that technology has become important for every aspect of national growth. He further said that the Research, Development and Innovation (RDI) scheme will be a game changer and that the initiatives will help synergise the public and private R&D ecosystems and accelerate the country's technological capabilities. He said the fund will help build cutting-edge and futuristic technologies. He also called for deeper engagement of Tier-II and Tier-III institutions to ensure that innovation is not limited to elite centres. "How do we bring Tier-II and Tier-III institutions as much into the play as Tier-I, and really, we are seeing where policy intervention is needed to address it. All this is making a roadmap to take us forward," he added. He noted that in India, hundreds of startups have come up, which are carrying out research in rockets, satellites, and the utilization of data.

Government's Principal Scientific Adviser, Ajay Kumar Sood's remark came a day after Prime Minister Narendra Modi launched the&nbsp;Research, Development, and Innovation scheme.

Technological sovereignty essential for strategic autonomy: Top science officer

According to a report by the World Inequality Database, India's richest 1 percent&nbsp;people grew their ownership of the country's total wealth to 62 percent between 2000 and 2023. The report, commissioned by the South African Presidency of the G20, further said that the top 1 percent of people in the world have increased their share to 41 percent between 2000 and 2024. The&nbsp;study, which sheds light on global inequality, said that the bottom half of the population received only 1 per cent.&nbsp;The research was led by Nobel-winning economist Joseph Stiglitz. It said that global inequality has reached “emergency levels” and is jeopardizing democracy, economic stability, and climate progress.&nbsp;It further said that inequality&nbsp;has narrowed in some countries due to a rise in total income. However, in large countries like India and China, inequality has risen.&nbsp;Between 2000 and 2023, the richest 1 per cent&nbsp;of people increased their total wealth in over half of all nations.&nbsp;"In India, the top 1 per cent increased their share of wealth by 62 per cent during this period, compared with 54 per cent in China. In the United States, a sharp rise occurred after 1980, with the top 1 per cent expanding their share of wealth by a total of 5 per cent since then," the report reads, according to Business Standard.&nbsp;The report further said that inequality can be reduced through political action and global cooperation. The report also called on G20 nations to play a role in leading the effort to reduce inequality.&nbsp;The report suggested that an International Panel on Inequality (IPI) must be created to track inequality trends worldwide. The panel must also give governments clear, reliable data to guide policies to eliminate economic inequalities.&nbsp;The report also claimed that countries with high inequality are seven times more likely to face democratic decline. It said that 2.3 billion people now face food insecurity, and half of the world faces a paucity of basic health services.

According to a report by the World Inequality Database, India's richest 1 percent people grew their ownership of the country's total wealth to 62 per cent between 2000 and 2023. 

According to a report by the World Inequality Database, India's richest 1 percent people grew their ownership of the country's total wealth to 62 percent between 2000 and 2023. The report, commissioned by the South African Presidency of the G20, further said that the top 1 percent of people in the world have increased their share to 41 percent between 2000 and 2024. The study, which sheds light on global inequality, said that the bottom half of the population received only 1 per cent. The research was led by Nobel-winning economist Joseph Stiglitz. It said that global inequality has reached “emergency levels” and is jeopardizing democracy, economic stability, and climate progress. It further said that inequality has narrowed in some countries due to a rise in total income. However, in large countries like India and China, inequality has risen. Between 2000 and 2023, the richest 1 per cent of people increased their total wealth in over half of all nations. "In India, the top 1 per cent increased their share of wealth by 62 per cent during this period, compared with 54 per cent in China. In the United States, a sharp rise occurred after 1980, with the top 1 per cent expanding their share of wealth by a total of 5 per cent since then," the report reads, according to Business Standard. The report further said that inequality can be reduced through political action and global cooperation. The report also called on G20 nations to play a role in leading the effort to reduce inequality. The report suggested that an International Panel on Inequality (IPI) must be created to track inequality trends worldwide. The panel must also give governments clear, reliable data to guide policies to eliminate economic inequalities. The report also claimed that countries with high inequality are seven times more likely to face democratic decline. It said that 2.3 billion people now face food insecurity, and half of the world faces a paucity of basic health services.

World Inequality Database: The research was led by Nobel-winning economist Joseph Stiglitz. It said that global inequality has reached “emergency levels” and is jeopardizing democracy, economic stability, and climate progress.

India's top 1 per cent grew wealth share to 62 per cent in 23 years: Report

When Donald Trump began his second term as US president in January 2025, his reported net worth stood at approximately US$6.7 billion according to Forbes and US$7.16 bn as per the Bloomberg Billionaires Index, as of January 21. Less than a year into that term, his personal wealth has already climbed further through a combination of crypto ventures, real estate licensing deals and brand monetisation.<a href="https://www.wionews.com/videos/trump-s-social-post-drives-crypto-flash-crash-1760421021220/embed">https://www.wionews.com/videos/trump-s-social-post-drives-crypto-flash-crash-1760421021220/embed</a><h2>Crypto: Trumps' cash engine for future</h2>One of the fastest-growing channels for his personal wealth is the crypto platform World Liberty Financial (WLFI), a decentralised finance or DeFi venture backed by the Trump family. Public filings show WLFI raised about US$550 million in token sales across two rounds launched in October 2024 and January 2025. WLFI’s documentation stated that the Trump family entity is entitled to 75 per cent of net revenue after expenses. This means a substantial portion of that US$550 million could flow into the family ecosystem. According to crypto-industry trackers, the Trump family controls roughly 22.5 billion WLFI tokens, which some reports value at more than US$6 billion to US$7 billion, albeit on paper.Also read: <a href="https://www.wionews.com/trending/trump-s-granddaughter-kai-earns-more-than-us-president-know-her-net-worth-1752857889466">Trump’s granddaughter Kai earns more than US president? Know her net worth</a><h2>Real estate deals remain core business of Trump</h2>Beyond crypto, the core real-estate and licensing business of the Trump Organization remains a driver of his wealth. Much of Trump’s fortune still stems from his global real-estate empire: office towers, leaseholds, golf resorts and branded licensing. In India alone, the Trump brand reportedly earned about US$12 million in 2024 from licensing deals tied to seven real-estate projects across Mumbai, Pune, Kolkata and Gurugram. These fees, and the expanded global brand reach, help boost his valuations even if the revenue streams are less visible.Also read: <a href="https://www.wionews.com/trending/laura-loomer-net-worth-donald-trump-1755790798711">How much does Trump’s far-right supporter Laura Loomer earn? Check her net worth inside</a><h2>Social media venture helping Trump amass more wealth</h2>While many of the gains are on paper rather than fully realised cash, the valuations show a clear uptick. A Forbes summary noted that Trump’s stake in social media via the Trump Media &amp; Technology Group (TMTG) - which owns Truth Social - and crypto helped him double his net worth in a year to around US$5.1 billion.The inclusion of crypto token holdings, governance tokens, and brand stakes would take the totals up significantly.Also read: <a href="https://www.wionews.com/world/trump-family-made-6-billion-from-crypto-coin-launch-thanks-to-a-company-run-by-steve-witkoff-s-son-here-s-how-1756790078013">Trump family made $6 BILLION from crypto-coin launch thanks to a company run by Steve Witkoff's son - Here's how</a><h2>Brand Trump is growing</h2>The Trump Organization benefited from the post-election enthusiasm for the president. Golf club memberships reportedly rose. Valuations of several Trump-branded developments are growing too. His personal brand directly fuels premium pricing in real estate and licensing markets.The accumulation of wealth even before one full year in office shows how Trump is leveraging new-age assets such as cryptocurrency and social media, alongside traditional real-estate and branding businesses, to expand his personal fortune. Surely, he will leave office a much richer man.

Donald Trump’s net worth has surged past US$7 billion less than a year into his second term. The growth is fuelled by crypto ventures, real-estate licensing, and booming brand valuations. Here is a breakdown


When Donald Trump began his second term as US president in January 2025, his reported net worth stood at approximately US$6.7 billion according to Forbes and US$7.16 bn as per the Bloomberg Billionaires Index, as of January 21. Less than a year into that term, his personal wealth has already climbed further through a combination of crypto ventures, real estate licensing deals and brand monetisation. https://www.wionews.com/videos/trump-s-social-post-drives-crypto-flash-crash-1760421021220/embed Crypto: Trumps' cash engine for future One of the fastest-growing channels for his personal wealth is the crypto platform World Liberty Financial (WLFI), a decentralised finance or DeFi venture backed by the Trump family. Public filings show WLFI raised about US$550 million in token sales across two rounds launched in October 2024 and January 2025. WLFI’s documentation stated that the Trump family entity is entitled to 75 per cent of net revenue after expenses. This means a substantial portion of that US$550 million could flow into the family ecosystem. According to crypto-industry trackers, the Trump family controls roughly 22.5 billion WLFI tokens, which some reports value at more than US$6 billion to US$7 billion, albeit on paper. Also read: Trump’s granddaughter Kai earns more than US president? Know her net worth Real estate deals remain core business of Trump Beyond crypto, the core real-estate and licensing business of the Trump Organization remains a driver of his wealth. Much of Trump’s fortune still stems from his global real-estate empire: office towers, leaseholds, golf resorts and branded licensing. In India alone, the Trump brand reportedly earned about US$12 million in 2024 from licensing deals tied to seven real-estate projects across Mumbai, Pune, Kolkata and Gurugram. These fees, and the expanded global brand reach, help boost his valuations even if the revenue streams are less visible. Also read: How much does Trump’s far-right supporter Laura Loomer earn? Check her net worth inside Social media venture helping Trump amass more wealth While many of the gains are on paper rather than fully realised cash, the valuations show a clear uptick. A Forbes summary noted that Trump’s stake in social media via the Trump Media & Technology Group (TMTG) - which owns Truth Social - and crypto helped him double his net worth in a year to around US$5.1 billion. The inclusion of crypto token holdings, governance tokens, and brand stakes would take the totals up significantly. Also read: Trump family made $6 BILLION from crypto-coin launch thanks to a company run by Steve Witkoff's son - Here's how Brand Trump is growing The Trump Organization benefited from the post-election enthusiasm for the president. Golf club memberships reportedly rose. Valuations of several Trump-branded developments are growing too. His personal brand directly fuels premium pricing in real estate and licensing markets. The accumulation of wealth even before one full year in office shows how Trump is leveraging new-age assets such as cryptocurrency and social media, alongside traditional real-estate and branding businesses, to expand his personal fortune. Surely, he will leave office a much richer man.

Donald Trump’s net worth has surged past US$7 billion less than a year into his second term. The growth is fuelled by crypto ventures, real-estate licensing, and booming brand valuations. Here is a breakdown &nbsp;

Trump is already billions richer even before one year into second term. Here is how he is filling his pockets

Talks for the India-European Union free trade agreement have intensified&nbsp;as EU negotiators arrived in New Delhi on Monday. Piyush Goyal, India's Minister of Commerce and Industry, also held a meeting with Maroš Šefčovič, the European Union (EU) Commissioner for Trade and Economic Security, to discuss the progress on the India-EU Free Trade Agreement (FTA).<h2>Goyal-Maroš Šefčovič talks on India-EU trade agreement</h2>The minister said in a post on X that his meeting with the officer was productive.&nbsp;"Discussed strengthening the India-EU trade &amp; investment ties, advancing the FTA, and deepening cooperation across priority areas. Both sides are committed to balanced and mutually beneficial outcomes," he added.&nbsp;The talks in New Delhi started on Monday and will continue till November 7, 2025. The engagements are aimed at resolving key outstanding issues and advancing the agreement toward a balanced and equitable framework that benefits both sides.&nbsp;Piyush Goyal had visited Brussels on 27-28 October 2025, where he had discussions with the other side on the trade agreement.&nbsp;The current deliberations will discuss issues like trade in goods, trade in services, and rules of origin, among others, along with technical and institutional matters, reported ANI.&nbsp;Sabine Weyand, Director-General for Trade at the European Commission (EU DG Trade), will also be in the national capital on 5-6 November 2025 for talks with India's commerce secretary, Rajesh Aggarwal.&nbsp;India has also been negotiating a free trade agreement with the United States. The Donald Trump administration has imposed 50 per cent tariffs on India, rendering Indian exports to the US too expensive compared to regional competition. The tariffs threaten several industries and lakhs of direct and associated jobs.

Talks for the India-European Union free trade agreement have intensified as EU negotiators arrived in New Delhi on Monday.

Talks for the India-European Union free trade agreement have intensified as EU negotiators arrived in New Delhi on Monday. Piyush Goyal, India's Minister of Commerce and Industry, also held a meeting with Maroš Šefčovič, the European Union (EU) Commissioner for Trade and Economic Security, to discuss the progress on the India-EU Free Trade Agreement (FTA). Goyal-Maroš Šefčovič talks on India-EU trade agreement The minister said in a post on X that his meeting with the officer was productive. "Discussed strengthening the India-EU trade & investment ties, advancing the FTA, and deepening cooperation across priority areas. Both sides are committed to balanced and mutually beneficial outcomes," he added. The talks in New Delhi started on Monday and will continue till November 7, 2025. The engagements are aimed at resolving key outstanding issues and advancing the agreement toward a balanced and equitable framework that benefits both sides. Piyush Goyal had visited Brussels on 27-28 October 2025, where he had discussions with the other side on the trade agreement. The current deliberations will discuss issues like trade in goods, trade in services, and rules of origin, among others, along with technical and institutional matters, reported ANI. Sabine Weyand, Director-General for Trade at the European Commission (EU DG Trade), will also be in the national capital on 5-6 November 2025 for talks with India's commerce secretary, Rajesh Aggarwal. India has also been negotiating a free trade agreement with the United States. The Donald Trump administration has imposed 50 per cent tariffs on India, rendering Indian exports to the US too expensive compared to regional competition. The tariffs threaten several industries and lakhs of direct and associated jobs.

India-US trade: The talks in New Delhi started on Monday and will continue till November 7, 2025. The engagements are aimed at resolving key outstanding issues and advancing the agreement toward a balanced and equitable framework.

India-EU FTA talks intensify as EU negotiators arrive in New Delhi

South Korean President Lee Jae Myung said on Tuesday that his government will triple the amount of artificial intelligence spending. He also said in a budget speech that the nation's defence budget would&nbsp;see its highest increase in six years.&nbsp;The leader said the country will spend $7 billion towards artificial intelligence. He said with the move, his government aims to propel South Korea into the ranks of the world's top three AI powers. Currently, the United States and China have emerged as the pioneers of the artificial intelligence revolution, with their dominance in the global chips, software and energy sectors.&nbsp;He said South Korea will increase its investment "to usher in the AI era". He released a budget of 728 trillion won, an 8.1 per cent increase from this year.&nbsp;The budget is likely to be passed by the country's parliament. He said he wants to increase the country's defence budget by 8.2 per cent.&nbsp;He said he wants the country's military to have state-of-the-art systems suited for the AI era.&nbsp;He said the country will invest in introducing AI across industry, daily life and the public sector. It will also invest money in talent development and infrastructure building.<h2>South Korea's AI prowess</h2>South Korean companies like Samsung Electronics and SK Hynix are two of the world's largest chip makers. The two firms manufacture chips essential for AI products and the power-hungry data centres, which are critical for the technology.&nbsp;Jensen Huang, the CEO of US chip titan Nvidia, announced last week plans to supply 260,000 of the firm's most advanced chips to South Korea.&nbsp;South Korea is a key US ally. The US stationed 28,500 troops in South Korea to help it fend off military threats from North Korea.

South Korean President Lee Jae Myung said on Tuesday that his government will triple the amount of artificial intelligence spending. He also said in a budget speech that the nation's defence budget would see its highest increase in six years.

South Korean President Lee Jae Myung said on Tuesday that his government will triple the amount of artificial intelligence spending. He also said in a budget speech that the nation's defence budget would see its highest increase in six years. The leader said the country will spend $7 billion towards artificial intelligence. He said with the move, his government aims to propel South Korea into the ranks of the world's top three AI powers. Currently, the United States and China have emerged as the pioneers of the artificial intelligence revolution, with their dominance in the global chips, software and energy sectors. He said South Korea will increase its investment "to usher in the AI era". He released a budget of 728 trillion won, an 8.1 per cent increase from this year. The budget is likely to be passed by the country's parliament. He said he wants to increase the country's defence budget by 8.2 per cent. He said he wants the country's military to have state-of-the-art systems suited for the AI era. He said the country will invest in introducing AI across industry, daily life and the public sector. It will also invest money in talent development and infrastructure building. South Korea's AI prowess South Korean companies like Samsung Electronics and SK Hynix are two of the world's largest chip makers. The two firms manufacture chips essential for AI products and the power-hungry data centres, which are critical for the technology. Jensen Huang, the CEO of US chip titan Nvidia, announced last week plans to supply 260,000 of the firm's most advanced chips to South Korea. South Korea is a key US ally. The US stationed 28,500 troops in South Korea to help it fend off military threats from North Korea.

South Korean President Lee Jae Myung said he wants the country to be among the top players in the global artificial intelligence race. He said South Korea will increase its investment "to usher in the AI era".

South Korean President promises to triple AI budget. Here's why