Raymond Ltd., an Indian conglomerate, plans to list its apparel and real estate units by 2025 to boost shareholder value. The move aims to dismantle its conglomerate structure that led to subdued valuations. Raymond Lifestyle, known for men's suits, will expand in the Indian and wedding wear market, with targets for significant growth and new stores.
North Korean leader Kim Jong Un oversaw tests of new combat drones designed to crash into and destroy targets amid ongoing U.S.-South Korea military exercises. The tests involved drones capable of attacking land and sea targets. Kim emphasized speeding up drone development to enhance North Korea's military preparedness. The efforts come as the U.S. and South Korea conduct drills to counter North Korean threats, including exercises focusing on drone defense and combat interoperability.
Prime Minister Narendra Modi expressed confidence in deepening India's historical ties with Brunei and its Strategic Partnership with Singapore during his visit. He will meet Brunei's Sultan and Singapore's leaders to discuss emerging areas of collaboration. Modi views this trip as pivotal to strengthening partnerships with ASEAN and the Indo-Pacific region.
Kazakhstan's President Kassym-Jomart Tokayev has called for commitment to progress, emphasizing the importance of rule of law for public security. He advocates for a balanced foreign policy, highlights the need for nuclear energy, and discusses key infrastructure projects, including railway and air transport developments.
Speculation around wrestler Vinesh Phogat's political future is growing after the Congress Central Election Committee meeting on candidate selection for the Haryana polls. AICC Haryana in-charge hinted that Vinesh might contest on a Congress ticket. The candidate list will be released within two days. The Haryana elections are set for October 5.
The benchmark BSE Sensex extended its gains for the 10th consecutive day, setting a new lifetime high on Monday. Key stocks in focus included NBCC with a 0.42% rise, Adani Ports which increased by 0.85%, and Varun Beverages, which gained 1.86%. Experts share buying recommendations for these stocks as the market reopens today.
Cathay Pacific has temporarily grounded its fleet of A350 aircraft for inspections after an engine component failure forced a flight to Zurich to turn back. The airline is inspecting its 48 Airbus A350s, leading to several out-of-service aircraft and the cancellation of 24 return flights. The issue involved a component failure in the A350's engine, and Cathay is coordinating with authorities and manufacturers to address it.
Brent oil prices dropped in Asian trade on Tuesday as concerns about weakened demand in China outweighed the effects of a blockade on Libyan oil production facilities. Brent crude futures fell to $77.15 a barrel while U.S. West Texas Intermediate crude rose slightly after the Labour Day holiday break.
