Seattle Daily Star

 Billionaire Mukesh Ambani-led Reliance Industries is expected to report a significant increase in quarterly profits, supported by strong performance in its oil-to-chemicals (O2C) and telecommunications businesses. Improved refining margins and continued growth in digital operations are likely to offset weakness in the company's retail segment. The company is scheduled to announce its financial results for the quarter ended September on Friday. According to estimates compiled by LSEG, Reliance Industries' consolidated net profit is projected to increase 17.5% year-on-year to Rs 21,348 crore, while revenue is expected to grow by approximately 28%. Reliance Industries expects a 17.5% profit jump as strong refining margins and Jio's growth boost quarterly earnings. Refining Business Benefits from Rising Crude Oil Prices Reliance's O2C business is expected to remain the biggest contributor to its earnings growth. The company operates the world's largest refining complex...

 India's stock market is facing growing concerns over declining foreign investment, with high capital gains taxes and additional transaction costs increasingly influencing international investors' decisions. A sharp rise in foreign fund outflows has raised questions about whether the country's taxation policies are making its equity market less competitive compared with other major financial centres. Foreign Portfolio Investors (FPIs) sold Indian equities worth Rs 1.66 lakh crore in 2025. The selling intensified in 2026, reaching a record Rs 3.08 lakh crore by October 12. Foreign ownership of Indian equities has consequently fallen to its lowest level in 15 years. Foreign investors are pulling billions from Indian equities as high taxes and transaction costs raise market concerns. High Tax Rates Raise Investment Concerns One of the major concerns highlighted in the debate is India's capital gains taxation system. Under the current framework, long-term capital gains on l...

NEW DELHI: Union Finance Minister Nirmala Sitharaman has criticised Congress leader and Leader of Opposition Rahul Gandhi over his opposition to the proposed sale of IDBI Bank, defending the government's decision and highlighting the financial challenges the bank faced before the NDA came to power. The exchange follows Rahul Gandhi's criticism of the Centre's decision to sell IDBI Bank to Canadian billionaire Prem Watsa's Fairfax Group. Gandhi had questioned the need to privatise a lender that had returned to profitability and expressed concerns about the future of its employees. Nirmala Sitharaman defends the IDBI Bank sale, accusing Congress of past bad lending practices amid Rahul Gandhi's criticism. Responding through a post on X on Friday, Sitharaman alleged that previous Congress-led governments had pressured public sector banks to provide loans to politically connected businesses without following proper financial safeguards. She said IDBI Bank was in poor f...

  NEW DELHI: Continuous rainfall in the national capital has forced opposition parties belonging to the INDIA bloc to postpone their planned 'public impeachment' programme against Chief Election Commissioner (CEC) Gyanesh Kumar. The event, originally scheduled for Friday afternoon, will now take place on Saturday at 4 pm. The programme was scheduled to be held at the official residence of Congress president Mallikarjun Kharge at 10, Rajaji Marg, in central Delhi. However, persistent rain since Friday morning disrupted preparations for the gathering, leading opposition leaders to reschedule the event. Rain delays INDIA bloc's public impeachment of CEC Gyanesh Kumar, with opposition leaders rescheduling the event to Saturday. Leader of Opposition Rahul Gandhi confirmed the postponement, stating that all participating parties had collectively agreed to shift the programme to Saturday at 4 pm. According to sources, former Lok Sabha Speaker Meira Kumar is expected to preside ov...

 A political controversy has emerged in Assam after state minister Biswajit Daimary praised the United Liberation Front of Asom (ULFA), crediting the organisation with protecting the state from external forces for more than five decades. His comments triggered criticism and prompted Chief Minister Himanta Biswa Sarma to clarify which faction the minister was referring to. The remarks were made during a public event in Kakopathar, Tinsukia district, on Tuesday. Speaking about ULFA's historical role in Assam, Daimary said the organisation had prevented outside forces from destabilising the state over the past 50 years. Assam minister's praise for ULFA sparks controversy as Himanta Sarma clarifies which faction was being praised. According to a video of the event, the minister stated that no one had been able to challenge Assam because of ULFA's presence. He further argued that despite criticism of the underground organisation, its influence had played a significant role in pr...