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Credit card reward points can help you save money, but avoid spending just to stop them from expiring. Kaushik Chatterjee said, "Credit card reward points should encourage smarter spending, not unnecessary purchases." Check your budget before you redeem points. It is better to let them expire than overspend your money.
The AI equity rout accelerated in Asia on Thursday as fears grew over financing for the intelligence revolution. Japan’s Nikkei slid 5% and South Korea’s KOSPI lost 20% of its value in a week. However, the force evaporated in US trading hours, where chip stocks fell for a seventh day.
Investors are lowering valuation expectations for Anthropic’s upcoming IPO after recent financial disclosures. During a Wednesday meeting in San Francisco, some investors discussed a $1.5 trillion valuation, down from the previously expected $2 trillion. While third-quarter revenue grew 45% to $16.8 billion, many remain concerned about slowing sequential growth rates.
Tata Power plans Rs 2,500-crore solar investments in West Bengal, targeting 3 lakh homes over three years. CEO Praveer Sinha aims to boost rooftop solar adoption. Sanjay Banga said, "West Bengal should also come up with some state subsidy," to make these installations more affordable for many low-income households today.
Zara founder Amancio Ortega bought a 51-storey Chicago skyscraper for $550 million. His family office, Pontegadea Inversiones SL, acquired the One North Wacker tower in the city's business district. This major deal adds to his growing global property portfolio, which already includes many hotels, residential blocks, and large shopping centers.
HDFC Asset Management Company reported a 4 per cent rise in net profit to ₹749 crore for the September quarter. Revenue grew 14 per cent to ₹1,170 crore, helped by higher assets under management. The firm also reversed a tax provision of ₹47 crore, which added to the final profit figure.
India’s BoP surplus jumped to $45 billion in August, driven by massive FCNR inflows. The FCNR window, which closed on August 31, brought in around $133 billion in deposits. Net NRI deposits surged to $83 billion, helping the capital account. Meanwhile, the current account deficit narrowed to $5.2 billion in August.
IndiGo cancelled Saudi Arabia flights until October 24, while Akasa Air and Air India also extended suspensions due to regional tensions. IndiGo said, "The safety and well-being of our customers and crew remain our highest priority." Airlines are offering full refunds to passengers as they monitor the evolving security situation.
RBI Deputy Governor Swaminathan said institutions must ensure oversight keeps pace with their growth. At the Financial Express Modern BFSI Summit in Mumbai, he noted, “Oversight and controls should also grow, commensurate with or keep pace with the growth of the organisation.” He added that building trust remains essential for sustainability.
The Reserve Bank of India on Thursday clarified that banks must maintain a 20 per cent foreign exchange risk reserve in their cash reserve ratio accounts. This rule applies over and above mandatory balances. The move pushed up forward premiums, as a treasury head said, “The RBI has now clarified.”
Chief Minister Joseph Vijay launched the Tamil Nadu Semiconductor Ecosystem Scheme on Wednesday to boost local manufacturing. The plan offers customised incentives for projects, including those outside federal schemes. TN Industries Minister S. Keerthana said, “We are building the industries of tomorrow in Tamil Nadu,” aiming to create many high-value jobs.
Jio has filed 7,220 patents, making it India’s only company in global top 20 rankings. Akash Ambani said, “The proprietary end-to-end technology stack has given us the ability to play across the value chain.” Over 12,000 engineers helped build this stack, which now supports 55 crore Indians across the country.