Economy
100 articles in feed · 20936 tracked overall
Crude oil breaches $110-a-barrel as Houthi forces target Saudi Aramco’s Shaybah facility
Benchmark crude oil prices surged to a near six-month high on Thursday, October 22, 2026, breaching $110-a-barrel. Brent crude futures rose 3.2% to $112.35, while West Texas Intermediate (WTI) gained 2.47% to $99.55. Houthi forces targeted King Fahd International Airport and Saudi Aramco’s Shaybah oil facility. The Saudi Arabia Energy Ministry stated operations were unaffected. Attacks killed four people and injured four, including four Indian nationals.
Zerodha co-founder Nikhil Kamath says inheritance tax is "not the worst idea"
Nikhil Kamath, Zerodha co-founder, told Rahul Kanwal at the NDTV World Summit 2026 that inheritance tax is "not the worst idea" to address wealth inequality. He discussed the Gini coefficient, noting that government intervention is necessary when wage growth lags asset price inflation. Kamath also mentioned his investments in Licious, Nourish You, Pee Safe, Subko, and Ather.
India to mine gold with 20 to 30 per cent domestic consumption
At the NDTV World Summit 2026, Sachin Jain of the World Gold Council stated India will mine gold, with 20 to 30 per cent of consumption coming from domestic sources. Panelists Tushar Vikram of Mashreq India, Ashish Singhal of CoinSwitch & Lemonn, and Deep Agrawal of PhonePe discussed CBDCs, blockchain, and gold tokenisation as tools for global trade.
Courtney Adeleye turns $500 investment into $100 million annual sales for The Mane Choice
Former nurse Courtney Adeleye founded The Mane Choice in 2013 with a $500 investment. The brand reached over $100 million in annual sales within six years and expanded to approximately 60,000 retail locations. In 2019, MAV Beauty Brands acquired the company for $61.5 million. Adeleye later launched Olbali, then Watch & Sea Beauty, which entered 200 Target stores in February 2025.
UAE diesel at Dh 4.80 higher than all listed Indian cities
In October, UAE fuel prices rose nearly 16% due to global oil pressures and Brent crude exceeding $110 per barrel. On October 22, Gulf News reported UAE diesel at Dh 4.80 (approx. Rs 123.31), higher than all listed Indian cities. Petrol prices in Delhi, Noida, Lucknow, and Chandigarh were cheaper than UAE Special 95, while Mumbai, Kolkata, and Hyderabad were more expensive.
Finance Ministry and CBIC to consult on revamped GST forms to reduce mismatch notices
The Finance Ministry and CBIC will post revamped GST forms, including GSTR-1/1A/IFF, on 'myGov.in' for consultation starting November 1 until November 30. Approved by the GST Council on October 8, these changes aim to reduce mismatch notices, which cause 80% of current issues. The new forms and improved IMS will be applicable from April 1, 2027.
India sells Akash missile systems to Tajikistan and Turkmenistan to diversify global suppliers
India reported selling its indigenous Akash surface-to-air missile system to Tajikistan and Turkmenistan. This move supports a goal of reaching Rs 50,000 crore in exports by 2029. To succeed, the Ministry of Finance, Reserve Bank of India, and Exim Bank must streamline financing for private exporters and MSMEs. This shift aims to diversify global military suppliers away from Russia and China.
Meta European ad revenue grows 18% as Less-Personalized Ads model slows growth
Meta reported that European advertising revenue grew 18 percent year-on-year through September, lagging the 33 percent growth in the US and Canada. CFO Susan Li noted the impact of the Less-Personalized Ads model, which launched this year after a €200 million fine from EU regulators for breaching the Digital Markets Act. Rothschild & Co Redburn director Dominic Ball attributed the slowdown to these options.
Avaada Group's Vineet Mittal says India must increase electrification to 40% by 2047
Vineet Mittal, Founder and Chairman of Avaada Group, told NDTV's Ambika Singh Kahma at the NDTV World Summit 2026 that India must increase electrification from less than 20% to 40% by 2047. He stated India imports $200 billion in fuel annually, importing 80% of its fuel. He highlighted green methanol technology shared with Ashok Leyland and the Indian Institute of Science.
Greenlight launches Family Hub with AI voice assistant and location tracking for $10-a-month
Greenlight launched the Greenlight Family Hub, a digital wall calendar featuring an AI-powered voice assistant, location tracking, and financial management. Sushil Sharma, chief product officer at Greenlight, stated the device aims to be an all-in-one command center for families. While Skylight charges for photo storage, Greenlight requires a $10-a-month membership for its voice assistant and location sharing features.
Diwali gifts may be taxable under Section 92(2)(m) of Income-tax Act, 2025
CA Suresh Surana told NDTV that Diwali gifts may be taxable under Section 92(2)(m) of the Income-tax Act, 2025. Gifts exceeding Rs 50,000 thresholds for cash, movable assets, or immovable property are generally taxable unless from specified relatives. Employees receive a nil tax treatment for gifts below Rs 15,000 under the Income-tax Rules, 2026. Recipients should maintain purchase bills and valuation records.
Elon Musk endorses potential $3.5 trillion SpaceX-Tesla merger, potentially inviting shareholder scrutiny
Elon Musk publicly endorsed a potential $3.5 trillion merger between SpaceX and Tesla, which could be the largest corporate transaction in history. Sources say his comments may invite shareholder scrutiny, mirroring the 2016 SolarCity acquisition litigation. While Musk owns nearly 20 percent of Tesla and just under half of SpaceX, he must be recused from special committee discussions.
