Central Bank of India Q2 profit rises 21% as loans grow 30%economictimes.indiatimes.com
Central Bank of India reported a 21 percent rise in net profit to Rs 1,469 crore for the quarter ended September 2026, up from Rs 1,213 crore a year earlier. Net interest income grew 26 percent to Rs 4,146 crore, driven by a 30 percent expansion in total advances to Rs 3.81 lakh crore. Asset quality improved during the quarter, with net non-performing assets declining 17 basis points year-on-year to 0.31 percent. The lender also reduced its cost-to-income ratio to 58.95 percent from 62.42 percent.
India notifies first tariff cuts under New Zealand FTAeconomictimes.indiatimes.com
India notified its first tranche of customs duty concessions under the bilateral free trade agreement with New Zealand, taking effect on October 20. The Department of Revenue established zero basic customs duty and cess rates for specified sheep meat imports, alongside tariff-rate quotas for honey and milk-derived proteins. Wine imports will face a 20 percent basic customs duty with variable agricultural infrastructure cesses based on container value. Sensitive categories such as dairy products remain excluded from the trade liberalization agreement, which covered about $1.13 billion in bilateral trade during 2025-26.
ixigo Q2 profit at Rs 63 cr on robust show in hotel booking bizeconomictimes.indiatimes.com
Ixigo reported a consolidated net profit of Rs 63.42 crore for the September quarter, bouncing back from a net loss of Rs 3.46 crore in the same period last year. The travel platform's revenue from operations increased to Rs 320.96 crore, supported by strong growth in hotel bookings. Gross transaction value across the platform reached Rs 5,304 crore, representing a 22 percent year-on-year increase. Hotel bookings emerged as the fastest-growing business line, reaching Rs 111.34 crore during the quarter.
AI race may depend more on access to power, infrastructure than chip supply: Morgan Stanleyeconomictimes.indiatimes.com
Morgan Stanley released a research report warning that the global artificial intelligence expansion could be constrained by electricity and infrastructure shortages rather than chip supply. The analysis estimated that US data-centre developers could face a 32-gigawatt power shortfall through 2028, accounting for roughly 34 percent of projected energy requirements. The report suggests that data-centre energization is increasingly concentrating among large, well-funded companies capable of securing power. Major technology providers are expected to account for the vast majority of capacity additions through 2028.
BoE’s Bailey tells G30 they ‘have got to address’ AI agent concernsft.com
Bank of England Governor Andrew Bailey warned financial leaders at the G30 meetings that rapid developments in artificial intelligence agents present major stability risks. Bailey emphasized that authorities must urgently address the implications of automated AI systems operating within financial markets. The central bank governor highlighted the need for regulatory frameworks to monitor autonomous technological tools. Financial stability officials discussed potential systemic vulnerabilities linked to widespread algorithmic adoption.
Is Apple’s foldable iPhone Duo worth $2,000? See how it stacks up against other foldable phones.marketwatch.com
Preorders for Apple's foldable iPhone Duo began on Friday at a starting price of $2,000, marking the company's official entry into the foldable device market. The new smartphone competes directly with established foldable models from manufacturers like Samsung and Google. Early industry reviews have focused on the device's build quality, hinge mechanism, and software adaptation. The launch signals a significant shift for Apple into a hardware category dominated by Android competitors.