The government has cut windfall tax on domestically-produced crude oil to Rs 1,850 per tonne, from Rs 2,100 per tonne with effect from Saturday.

The tax is levied in the form of Special Additional Excise Duty (SAED). The SAED on the export of diesel, petrol and jet fuel or ATF, has been retained at nil'.

Kerala police have registered a second sexual assault case against film director Ranjith following a complaint by an aspiring actor.

The case was filed in Kozhikode and is the latest development after the release of the recent Hema Committee report.

The well-marked low-pressure area in the Bay of Bengal on Saturday intensified into a depression and the system is likely to cross north Andhra Pradesh and adjoining south Odisha coasts between Vishakhapatnam and Gopalpur close to Kalingapatnam around midnight, the India Meteorological Department (IMD) said.

The well-marked low-pressure area over the Bay of Bengal off north Andhra Pradesh and South Odisha coasts moved west-northwestwards and intensified into a depression, the IMD said in a bulletin.

As Vistara and Air India prepare for their much-anticipated merger, passengers are facing a unique window of opportunity. With the integration expected to be finalised shortly, starting September 3, passengers will no longer be able to book tickets with Vistara for travel on or after November 12.

In an official statement, the airline said, “Starting September 3, 2024, customers will, progressively, no longer be able to make bookings with Vistara for travel on or after November 12, 2024.”

The Shiromani Akali Dal (SAD) Delhi has sent a legal notice to the Central Board of Film Certification (CBFC) concerning Kangana Ranaut's upcoming film "Emergency." The party seeks to prevent the film's release, citing concerns over its portrayal of historical events and figures, particularly those related to the Sikh community.

The notice addresses top officials of the CBFC, requesting an immediate revocation of the certification granted to the film "Emergency," thereby blocking its release.

Air India-Vistara merger: The Indian government has greenlit the foreign direct investment for the proposed merger between the two airlines, Singapore Airlines said on Friday, giving an update on the deal that will create one of the world's largest airline groups.

The FDI nod will pave the way for Singapore Airlines' investment worth S$360 million ($276 million) into the new combined carrier.

Telangana Chief Minister Revanth Reddy apologised for his remarks on bail granted to Bharat Rashtra Samithi (BRS) leader K Kavitha by the Supreme Court in cases linked to the alleged Delhi excise policy scam. He called himself "a firm believer of the judicial process" and said, "The remarks attributed to me in such reports have been taken out of context."

The Supreme Court granted Kavitha bail in Delhi excise policy cases on August 27. She walked out of Tihar Jail in Delhi late Tuesday evening.

The 2024 Hurun India Rich List, whch was released on Thursday, revealed the top 10 self-made women in India, with Radha Vembu of Zoho leading at Rs 47,500 crore, followed by Falguni Nayar of Nykaa and Jayshree Ullal of Arista Networks, both with over Rs 32,000 crore. Co-founder of eyewear retail company Lenskart, Neha Bansal, was ranked the youngest self-made woman entrepreneur in the 2024 Hurun India Rich List.

Juhi Chawla, boasting of Rs 4600 crore wealth, made it to the list too.

Defence stocks have been on a slippery slope since the presentation of the Union Budget for 2024-25 (FY25). Shares of Garden Reach Shipbuilders & Engineers, for instance, have lost 26.9 per cent, while Cochin Shipyard is down 20.8 per cent since the Union Budget presentation (July 23). BEML has dropped 15.3 per cent, Mishra Dhatu Nigam 13.2 per cent, and DCX Systems 13.4 per cent, according to ACE Equity data.

Energy-to-telecom conglomerate Reliance Industries at its annual general meeting on Thursday made several key announcements, including a proposal to issue 1:1 bonus shares, plans to rank among the world’s top 30 companies, and detailed timelines for its new energy business.

Its Chairman and Managing Director Mukesh Ambani, however, did not share any details on a potential listing of the company’s retail and telecom divisions, a key announcement that the market was hoping for.

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