Veteran banker Uday Kotak reacted to SpaceX’s blockbuster Wall Street debut, saying that the company’s massive valuation does not fit traditional ways of valuing businesses.In a post on X, Kotak wrote, “SpaceX IPO, listing, and beyond, is a true test for capitalism. The valuation does not fit any traditional matrix and is a huge bet … Read more
A ruling by the Mumbai bench of the Income Tax Appellate Tribunal (ITAT) has underscored the importance of understanding tax deduction at source (TDS) obligations when purchasing property.The case involved a Mumbai resident, who had jointly purchased a residential flat in the tony area of Haji Ali, worth Rs 1.9 crore with her husband. She … Read more
MUMBAI: Tata AIG General Insurance reported a net profit of Rs 1,008 crore for FY26 despite facing the largest claim in Indian aviation history last year. The company’s books were protected due to its conservative policy of reinsuring the bulk of large risks.The General Insurance Corporation had estimated claims of over $400 million last year … Read more
BENGALURU: Byju Raveendran secured a temporary reprieve after the Singapore High Court stayed key provisions of an earlier order sentencing him to six months in prison for civil contempt.In a statement on Friday, his legal counsel, Lazareff Le Bars, said the General Division of the Singapore High Court stayed the committal and surrender provisions of … Read more
TOI correspondent from Washington: Move over kings, emperors, oil sheikhs, and that uncle who insists he bought Apple or Nvidia 25 years ago but somehow still drives a 2002 Toyota Corolla or Maruti Suzuki. The world has a new financial life-form: Elon Musk, the first person to breach the previously mythical $1 trillion net worth … Read more
Elon Musk’s net worth is tied mainly to these two companies – SpaceX and Tesla. (AI image) Who wants to be a millionaire? Several years ago an American show highlighted people’s aspiration of reaching the 7-digit figure. Almost three decades later, the world has got its first trillionaire – Elon Musk. A figure that has … Read more
How do you measure a trillion dollars? Start with the zeroes. A trillion is written as $1,000,000,000,000 — a one followed by 12 zeroes. Yet even that barely captures its scale. As SpaceX’s market debut pushes Elon Musk towards what could become the world’s first trillion-dollar personal fortune, the number is so large that it … Read more
India’s king of fruits is sweet, fragrant and beloved across continents. Every summer, Alphonso, Kesar, Dasheri, Langra and Chausa mangoes trigger memories of family gatherings, school vacations and seasonal indulgence.Yet India’s position in global trade tells a very different story.For a country that dominates global production, it contributes only about 2-3 per cent of global … Read more
US stocks drifted on Friday as falling oil prices supported sentiment, while investors turned their attention to the highly anticipated stock market debut of SpaceX, a closely watched test of appetite for artificial intelligence-related investments, according to AP.The S&P 500 rose 0.1%, while the Dow Jones Industrial Average gained 270 points, or 0.5%, as of … Read more
India’s edible oil imports increased 6.7 per cent year-on-year to nearly 13.39 lakh tonnes in May, driven mainly by higher shipments of crude soyabean oil, industry body Solvent Extractors’ Association of India (SEA) said on Friday, reported news agency PTI.According to SEA data, edible oil imports rose to 13,38,936 tonnes in May 2026 from 12,54,883 … Read more