Top headlines: PM launches 7 defence PSUs; Brent oil surges to $85/barrel

Business Standard brings you the top stories from today

On Vijayadashami, PM Modi launches 7 defence PSUs carved out of OFB

There is more transparency, trust and technology-driven approach in India's defence sector now than ever before and major reforms are taking place for the first time since Independence while discarding stagnant policies, Prime Minister Narendra Modi said on Friday.

In an address at an event to dedicate seven new defence companies to the nation, Modi, referring to the self-reliant India campaign, said the goal is to make the country the world's biggest military power on its own. Read more

Brent oil surges to $85 per barrel as energy crisis stokes demand

Oil prices hit a fresh three-year high on Friday, climbing above $85 a barrel on forecasts of a supply deficit over the next few months as rocketing gas and coal prices stoke a switch to oil products.

Brent crude futures were up 80 cents, or 0.95%, to $84.80 a barrel at 0930 GMT. Front-month prices, which earlier touched their highest since October 2018 at $85.10, are set to climb for the sixth straight week, heading for a 3% hike this week. Read more

Mohan Bhagwat calls for population policy, says there's 'imbalance'

Expressing concern over the "population imbalance" in the country, Rashtriya Swayamsevak Sangh (RSS) chief Mohan Bhagwat on Friday said that nation's population policy should be reconsidered.

In his annual Vijaya Dashami address, the RSS chief said, "While reimagining the country's development, one predicament comes to the fore which appears to concern many. The rapid growth of the country's population may give rise to many problems in the near future." Read more

Bitcoin tops $60,000, nears record high, on growing US ETF hopes

Bitcoin hit $60,000 for the first time in six months on Friday, nearing its record high, as traders grew confident that U.S. regulators would approve the launch of an exchange-traded fund (ETF) based on its futures contracts.

Cryptocurrency investors have been waiting for approval of the first U.S. ETF for bitcoin, whose recent rally has been fuelled in part by anticipation of such a move, which is seen as speeding up the mainstream adoption of digital assets. Read more