Indian-British banker turned entrepreneur, Roshni Mukherjee was awarded for Women in Business- Empowering Other Women in India at the Indo-UK Business Meet hosted by MP Bob Blackman. Mukherjee, owner of the label Myosutra that "brings forth culture to couture" on sarees, received the award from MP Dean Russel. Starting online operations in 2017, Myosutra now ships globally. "I have always encouraged women to believe in themselves," Mukherjee said. She added that she has "inspired many other women in the UK" and supports women in India through her business. Mukherjee said the award is a "testament to [her] hard work" and a "symbol of hope" for Bengali women entrepreneurs. The event, coordinated by Creative Elements London took place at the Palaces of Westminster on Wednesday, November 8.

Indian Commerce Minister Piyush Goyal is set to meet Tesla CEO Elon Musk in the United States next week, marking a significant step in Tesla's entry into the South Asian market. Discussions will revolve around Tesla's Indian factory establishment, manufacturing a $24,000 car locally, sourcing components, and developing a nationwide charging infrastructure. Talks will also address India's new policy, allowing reduced tax rates of 15% for fully built EV imports, provided automakers commit to local manufacturing. The meeting aims to ensure the ongoing discussions between India and Tesla are progressing positively. Both Tesla and Indian officials have not yet commented on the matter.

The US government, through the International Development Finance Corp., is financing a $553 million port facility in Colombo, Sri Lanka, owned by Indian billionaire Gautam Adani. This move aims to curb China's influence in South Asia. The investment is part of the US's efforts to enhance its engagement in development initiatives across the Indo-Pacific region. The deepwater West Container Terminal project will support Sri Lanka's economic expansion and strengthen regional economic integration with India. The investment signals a renewed push to counter China's "debt-trap diplomacy" and enhance US influence in the region.          

WeWork filed for bankruptcy in the US today as the office rental company continues to struggle amidst Covid-19's economic fallout and its failed 2019 IPO. This comes just months after CEO David Tolley had remarked in a September letter that WeWork is "here to stay" and would renegotiate leases worldwide. His comments vowing the firm's continuance have now gone viral as WeWork pursues Chapter 11 bankruptcy. Since its botched IPO in 2019 and founder Adam Neumann's exit, WeWork has seen declining operations. Its principal owner SoftBank invested billions trying to save WeWork before taking it public via a SPAC in 2021. But the company has been unable to recover from its steep valuation drop from $47 billion during its heyday. (Image Courtesy: ANI)

Air India has announced a strategic interline partnership with Alaska Airlines, enabling seamless travel options for passengers. The collaboration permits Air India customers to connect effortlessly from major U.S. gateways like New York JFK, Newark, Washington DC, Chicago, San Francisco, and Vancouver to 32 destinations in the USA, Mexico, and Canada within Alaska Airlines' network. The partnership includes bilateral interlining, allowing both carriers to sell tickets on each other's networks, and a Special Prorate Agreement for simplified fare structures across multiple destinations. This move amplifies Air India's global presence and enhances passenger convenience.

The Russian government has simplified norms allowing Indian nationals to open bank accounts with Russian banks remotely while still in India. In a social media post, the Russian Embassy in India said Indian tourists or students can now open accounts by approaching an Indian bank tied to the Russian Central Bank. They can then conveniently obtain a debit card to initiate transactions upon arriving in Russia. The Embassy said the process is straightforward and Indian nationals should contact partner Indian banks for guidance on opening these Russia-based accounts. The move is aimed at convenience for Indian tourists and students in Russia.

Tata Steel reported a huge Rs 6,511 crore consolidated loss in Q2FY24 due to one-time charges related to impairments and restructuring. This compared to a Rs 1,297 crore profit last year. Revenue declined 7% to Rs 55,682 crore versus Rs 59,878 crore in Q2FY23. CEO T V Narendran said that Tata Steel India delivered steady performance with 5 million tonnes of crude steel production and 6% higher domestic deliveries despite volatility. Auto and retail sales hit record highs. In the UK, Tata Steel plans to invest in a state-of-the-art EAF facility with government support to cut emissions. The massive loss came despite reasonable operating performance as exceptional charges hammered Tata Steel's

India's festive season spending is booming as consumers splurge on cars, phones, and TVs, boosting one of the world's fastest-growing economies. Online sales at platforms like Amazon and Flipkart rose nearly 20% in the first week of the festive sales compared to last year. Digital UPI transactions surged about 40% in October compared to last year. The festive period, running until Diwali on November 12, is a key indicator of consumption which makes up 60% of India's GDP. Economists point to easing inflation and rising rural wages. Consumer confidence hit a 4-year high in September per central bank data, while loan demand nears a 12-year peak despite rate hikes. PM Modi is also targeting farmers ahead of elections, hiking crop prices and curbing fertilizer costs to spur demand further.

Reliance Industries chairperson Mukesh Ambani praised his daughter Isha Ambani at the opening of Jio World Plaza, a luxury mall in Mumbai. Ambani called it a special evening to applaud Isha's leadership of Reliance Retail. He said Reliance Retail under Isha has redefined luxury in Mumbai and makes him very proud. Isha, who spearheads Reliance's highly profitable retail business, said she was excited to open the mall which realizes her mother Nita Ambani's vision of bringing the best global brands to India. The launch highlights Isha's growing profile as a leader in Reliance's retail operations. (Image Courtesy: @nmacc_india on X)

Gold prices eased on Tuesday but were on track for the biggest monthly rise since November 2022. The Israel-Hamas conflict had spurred safe-haven demand, pushing gold from $1,809 on October 6 to $2,009 last week. However, Israel adopting a more measured approach in Gaza has eased Middle East crisis fears. This led to profit booking in gold. But bullion was still set for an 8% monthly gain, its largest since November. In India, rising prices may dampen demand during festive season, said the World Gold Council. Lower purchases could halt global gold's rally.