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Apple's Indian contract unit temporarily halts iPhone assembly after fire

Taiwanese firm cancelled first two shifts of day at factory near the city of Chennai in Tamil Nadu state, and is yet to inform assembly workers whether it will operate third shift of day

Govt considering $7.2 billion housing loan interest subsidy scheme

The scheme will offer an annual interest subsidy of between 3-6.5% on up to 0.9 million rupees of the loan amount

Burmans seek to boost financial services play with control of Religare

The Burmans now want to "increase the family's stake and take control" of Religare, in a move that will pit them against other billionaire families in the same business

Rupee ends weaker on elevated US Treasury yields, record low not in sight

The rupee closed at 83.1450 against the U.S. dollar as compared with 82.93 in the previous session. Most Asian currencies fell, with the Thai bhat and offshore Chinese yuan leading losses

Emcure Pharma plans $400-500 mn IPO in 2024; hires JP Morgan, Jefferies

Emcure, backed by private equity firm Bain Capital, has hired investment banks JP Morgan, Jefferies and Kotak for the IPO, and is targeting a valuation of about $3 billion

India's April-August finished steel imports from China at five-year high

China, the world's top steel producer, exported mostly cold- rolled coil or sheets to India

Govt to auction Jammu & Kashmir's lithium reserves over next few weeks

India found its first lithium deposits in Jammu and Kashmir with estimated reserves of 5.9 million tonnes

Govt could sell wheat in open market to control price: Sanjeev Chopra

India's government could sell more wheat in open market to control price of the grain, the country's food secretary said on Monday

Nomura retains negative view on rupee despite JPMorgan index inclusion

Actual inflows may be smaller with some real money managers that they tracked already invested about 2%-3% on average, the brokerage said

Rupee gives up index inclusion-led rally; RBI counted on to help

The rupee was at 83.12 against the US dollar by 11:00 am IST compared with 82.93 in the previous session. The dollar index was largely flat in Asia, but remained near 6-month highs

China central-bank adviser proposes structural reforms to revive economy

Fiscally, Chinese governments at various levels are under stress, he told the annual Bund Summit conference

Can't interfere in dispute between Akasa Air and its pilots: DGCA

The DGCA "does not have any power or delegated authority to interfere in any employment contract," it said

India likely to delay import licensing of laptops, tablets, PCs by a year

After industry objections, the plan, which would also affect Dell and HP, was quickly delayed by about three months, and came under criticism from Washington

X social media's India, South Asia policy head Samiran Gupta resigns

Gupta's tenure at X ended in September, according to Gupta's LinkedIn profile, which said he "enabled transition leadership for Twitter post acquisition by Elon Musk-led X-Corp"

China's artificial intelligence 'war of hundred models' heads for shakeout

China now has at least 130 large language models (LLMs), accounting for 40 per cent of the global total

Murdoch exit may give Trump a Fox News 'reset': Republican strategists

A mutually beneficial relationship between Trump and Fox News broke down after the 2020 election in the wake of the network's coverage of the election

US Federal Reserve cutting staff after more than a decade of payroll growth

A Fed spokesperson said the cuts are focused on the staff of the U.S. central bank's 12 regional reserve banks and mainly hit information technology jobs

Delta Corp gets tax notice for $1.34 bn along with interest, penalty

The tax notice comes at a time when the company, valued at over $566 million, is already facing heat over the recent move in July by the country's GST Council to impose a 28% indirect tax

Oil prices increase as Russia fuel export ban stokes supply concerns

Brent futures were up 78 cents, or 0.84%, at $94.08 a barrel by 1443 GMT, while U.S. West Texas Intermediate crude (WTI) futures rose by $1.02, or 1.14%, to $90.65 a barrel

Emissions from Tata Steel's Dutch plant reduce life expectancy: Research

The Dutch government, which commissioned the research, said in a statement that living conditions around the plant - on the country's North Sea coast - have to be improved