The rupee on Wednesday opened 16 paise lower at 71.18 against the US dollar. The domestic unit on Monday depreciated by 14 paise to close at 71.02 as profit booking in domestic equities and unabated foreign fund outflows kept investors edgy.

"Indian rupee weakened along with other emerging Asian currencies against the US dollar as fresh doubts over US-China trade talks resurfaced after a report said that Beijing may be reluctant on agreeing to a broad deal,"

Several Gurdwaras are on the brink of trouble as they face a severe fund crunch before Gupurab on November 12, on account of not being able to withdraw deposits in the fraud-hit Punjab and Maharashtra Cooperative (PMC) Bank worth over Rs 1,000 crore in aggregate due to withdrawal restrictions imposed by the Reserve Bank of India (RBI). Several of the Gurdwaras which had deposited their money in PMC Bank accounts expressed their agitation on Monday over the withdrawal limit, citing religious reasons.

HSBC is planning to lay off up to 10,000 staff, a report said Monday, just weeks after its chief executive stepped down and announced the axing 4,000 posts citing a weak global outlook.

The latest cuts mostly in high-paid roles are part of a fresh cost-cutting drive by new boss Noel Quinn as the banking titan struggles to adjust to falling interest rates, Brexit and the long-running trade war, the Financial Times reported.

SBI Debit Card EMI : With the festivities all around, the shopping season is at its full throttle. As manufacturers and dealers dole out deals, offers and discounts to the consumers, not participating in the shopping extravaganza could be a tad difficult. If you as a SBI customer holding a debit card and want to shop but pay back in installments, the country’s largest lender State Bank of India has launched ‘Debit Card EMI facility’ for its existing customers like you.

Amazon.com Inc. and rival Walmart Inc. reported record revenue for their six-day India sales festivals as e-commerce catches on with buyers and sellers in smaller Indian towns, moving beyond the country’s urban, English-speaking population.

The American competitors have been dueling in India since Walmart cut a $16 billion deal for control of local pioneer Flipkart Online Services Pvt last year.

Chinese President Xi Jinping’s visit to India is very much on track, a top Indian official has confirmed to The Hindu. The official’s comments scotch speculative reports in a section of the Indian media that President Xi’s visit might be put off.

Mr. Xi’s visit to India is scheduled to begin in Mamallapuram near Chennai on October 11 with what will be his second informal summit with Prime Minister Narendra Modi.

A British company says it’s building the world’s first “vertiport” for electric aircraft in Singapore, an early step towards a global network for flying taxis.

Essex-based Skyports Ltd. plans to show off the vertical take-off and landing station at Marina Bay during the Intelligent Transport Systems World Congress from October 21-25. Germany’s Volocopter GmbH will bring along its electric aircraft for a demonstration flight.

As the nation gears up for Diwali, private-sector bank has rolled out big bonuses for existing employees which will be paid once every four months. To be given in 30:40:30, the bonus rollout is meant to retain existing talent, CNBC TV-18 cited unidentified sources as saying. Further, the private bank is also ramping up employment activities and is aggressively hiring for top positions. The bank is offering handsome hikes to prospective employees and the attractive packages are bringing very healthy response to the bank’s recruitment drive, the news channel reported.

On Monday, the Supreme Court directed the Maharashtra government to not cut any more trees in the Aarey colony till October 21. The trees were being cut to build a depot for Mumbai metro.

Appearing for the Maharashtra government, Solicitor General, Tushar Mehta assured the apex court that no trees will be felled.

The Bharatiya Janata Party (BJP) has released a list of 40 star-campaigners for the upcoming assembly elections in Haryana. Prime Minister Narendra Modi will be conducting four rallies in the state of Haryana as part of an intensive campaigning programme for the party and as usual, his schedule remains packed to the brim.

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