Author: Staff Writer

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Corporate

TCS temporily suspends Middle East work travel

India’s IT giant Tata Consultancy Services has temporarily suspended all business travel to the Middle East and asked its employees in the region to remain indoors following escalating tensions in the Gulf. The advisory comes after a series of military strikes involving Iran, United States, and Israel, which have heightened security risks, disrupted airspace, and affected daily life in Gulf countries.

TCS instructed its regional employees to avoid commuting unless absolutely necessary and to follow updates from local leadership. The company emphasised that the move was purely precautionary, prioritising employee safety amid uncertainty. Staff have been advised to stay connected with HR and local management teams for guidance on work arrangements and safety measures.

In addition to halting travel, TCS is monitoring developments across its offices in the UAE, Qatar, Bahrain, Oman, and other affected areas. The advisory extends to contractors, client meetings, and site visits, ensuring minimal exposure to risk while maintaining continuity of operations remotely wherever feasible.

The company’s decision follows similar moves by other multinational corporations operating in the region, as firms respond to a rapidly evolving security situation. Civilian travel has already been disrupted due to airspace closures and flight cancellations, adding to operational challenges for businesses with significant regional presence.

While TCS did not provide a timeline for resuming travel, it reassured employees that it is continuously assessing the situation in consultation with local authorities and security experts. Regular updates will be provided to ensure that employees can make informed decisions about movement, work, and safety.

The advisory underscores the broader impact of geopolitical instability on global business operations. With thousands of Indian IT professionals working in Gulf countries, companies like TCS are taking proactive measures to safeguard employees while managing operational continuity.

Also Read: Middle East war clouds ground flights across India

 

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Beyond

Middle East war clouds ground flights across India

Air travel across India faced major disruption on Monday as escalating tensions in the Middle East, involving Iran, the United States and Israel,  forced airlines to cancel or delay multiple services. Widespread airspace restrictions across parts of the Gulf triggered precautionary suspensions and rerouting of flights.

At Rajiv Gandhi International Airport, authorities confirmed 48 cancellations, largely affecting international flights to Gulf destinations along with some domestic sectors impacted by aircraft rotations. Passengers were seen waiting at airline counters seeking rebookings and refunds.

In Kempegowda International Airport, at least 24 flights were cancelled, primarily services connecting Bengaluru to Middle Eastern cities. Some Europe-bound flights were also rescheduled because they normally transit through affected air corridors.

Similar scenes unfolded at Chhatrapati Shivaji Maharaj International Airport and Indira Gandhi International Airport, where passengers travelling to destinations such as Dubai, Doha and Riyadh experienced last-minute cancellations and delays. Kochi airport also reported stranded flyers after Gulf-bound services were disrupted.

Aviation officials said the cancellations were precautionary following advisories warning of potential risks in parts of Middle Eastern airspace. With some countries temporarily restricting overflights, airlines opted to suspend operations rather than risk safety concerns.

The disruption had a cascading impact on domestic schedules as aircraft assigned to international routes were grounded, causing knock-on delays across networks.

Airlines have urged travellers to check flight status updates before heading to airports and to use official communication channels for rebooking options. With geopolitical tensions continuing, further disruptions remain possible if airspace restrictions persist.

Also Read: Brent crude jumps 13% as Iran moves on Hormuz

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Beyond

Brent crude jumps 13% as Iran moves on Hormuz

Global oil markets were rocked on Monday after crude prices surged more than 13% amid escalating conflict involving Iran, the United States and Israel, raising fears of a prolonged supply shock.

The sharp rally came after reports that Iran moved to restrict traffic through the Strait of Hormuz following coordinated US–Israel strikes on Iranian targets. The narrow waterway, located between Iran and Oman, is one of the world’s most critical energy corridors, handling nearly 20% of global crude oil and liquefied natural gas shipments each day.

Global benchmark Brent Crude surged as much as 13% to $82.37 per barrel, marking its highest level in over a year before easing slightly to trade near $79–$80. Meanwhile, West Texas Intermediate (WTI) climbed roughly 8% to around $72–$73 per barrel after volatile trading.

Shipping firms and maritime insurers have reportedly paused or delayed tanker movements through the Strait due to heightened security risks. Although Iranian authorities have not formally declared a complete closure, vessel tracking data shows significant slowdowns and rerouting activity. Analysts warn that even partial disruptions could tighten global supply chains.

Energy experts estimate that if flows through Hormuz were fully blocked, the global market could temporarily lose between 8 million and 10 million barrels per day, a volume difficult to replace quickly despite strategic reserves or alternative pipeline routes in Saudi Arabia and the UAE.

The price spike also reflects growing concern about retaliatory strikes and possible expansion of the conflict across the Gulf region. Traders are building in a geopolitical risk premium, pushing futures contracts higher across near-term delivery months.

Oil-importing nations face immediate pressure. Countries such as India, Japan and several European economies depend heavily on crude shipped through the Gulf. Higher prices could translate into rising fuel costs, inflationary pressures and widening trade deficits if the situation persists.

Meanwhile, producer alliance OPEC+ has signaled readiness to increase output modestly, but market analysts caution that incremental supply hikes may not offset a major disruption in Hormuz.

Financial markets reacted sharply, with global equities falling while safe-haven assets such as gold rose. Energy stocks, however, rallied on expectations of stronger earnings.

With geopolitical tensions intensifying and military exchanges continuing, oil markets remain highly volatile. Traders are closely monitoring developments around the Strait of Hormuz, as any confirmation of extended disruption could push crude prices toward the $90–$100 per barrel range in the near term.

Also Read: Gold ₹1.73 lakh, Silver ₹2.94 lakh

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Beyond

Gold ₹1.73 lakh, Silver ₹2.94 lakh

Gold and silver prices surged sharply as escalating tensions in the Middle East drove investors toward safe-haven assets. Heightened geopolitical risks following the US–Israel strikes on Iran triggered volatility across global equity markets, boosting demand for precious metals.

In India, 24-carat gold climbed to ₹1,73,090 per 10 grams, marking a strong rebound from recent levels. The rally reflects a sharp increase of nearly ₹6,000 per 10 grams over a short span as buyers rushed to hedge against uncertainty. 22-carat gold also moved higher in line with the broader trend, tracking gains across major cities including Delhi, Mumbai and Chennai.

Silver prices remained firm, trading around ₹2.94 lakh per kilogram in domestic markets. On the Multi Commodity Exchange (MCX), silver witnessed heightened volatility but held near elevated levels as investment inflows supported prices.

Globally, spot gold prices rallied significantly, supported by safe-haven flows and concerns that the conflict could widen, impacting oil supply routes and global trade. Rising crude oil prices have added to inflation concerns, further strengthening gold’s appeal as a hedge. US gold futures also advanced in tandem with spot prices.

Market analysts say geopolitical instability typically benefits bullion, especially gold, which is considered a long-term store of value during crises. Exchange-traded funds (ETFs) backed by gold and silver also recorded increased inflows, reflecting institutional participation in the rally.

However, experts caution that bullion prices may remain volatile in the near term. Movements in the US dollar, global bond yields and further developments in the Middle East will likely dictate the next trend. If tensions persist or escalate further, gold could test higher levels, while silver may continue to track both safe-haven demand and industrial outlook.

Also Read: Sensex down 1,100 points, Nifty falls to 24,876

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Corporate

Sensex down 1,100 points, Nifty falls to 24,876

Indian equity benchmarks opened sharply lower on Monday. The BSE Sensex plunged 1,100 points to open at 72,418, while the NSE Nifty50 dropped 332 points to 24,876, slipping below the key 25,000 mark in early trade.

This is because of the escalating military tensions between Iran and Israel, with reported involvement of the United States, that has triggered a global sell-off and pushed crude oil prices higher.

The sharp fall followed fears that widening conflict in the Middle East could disrupt oil supplies, fuel inflation and slow global growth.

Heavyweight IT and banking stocks led the decline. Infosys, HDFC Bank and Reliance Industries were among the biggest drags on the benchmarks. Shares of private lenders and frontline technology firms saw broad-based selling as investors reduced exposure to risk assets.

Oil marketing companies also traded weak on concerns that persistently high crude prices could squeeze marketing margins. Broader markets mirrored the weakness, with mid-cap and small-cap stocks declining in early deals.

However, defence stocks bucked the trend. Bharat Electronics Limited and Hindustan Aeronautics Limited emerged as top gainers on expectations of increased defence spending amid rising geopolitical tensions. Select upstream energy companies also saw buying interest as higher crude prices improved earnings prospects.

Asian markets traded mostly in the red, reflecting a broader flight to safety. Investors shifted funds into gold and government bonds, while emerging market equities faced outflows.

Analysts expect volatility to remain elevated in the near term, with crude oil prices and geopolitical developments likely to dictate market direction.

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1 Minute-Read

Deepinder Goyal raises $54mn for brain‑monitoring wearable

Weeks after stepping down from Zomato, Deepinder Goyal launched Temple, raising $54 million at a $190 million valuation. The startup develops a wearable tracking cerebral blood flow for athletes. Investors include Steadview, InfoEdge, and angel backers like Vijay Shekhar Sharma and Kunal Shah.

Temple plans major hires in neuroscience, embedded systems, and brain-computer interfaces. The device aims to provide metrics beyond existing wearables, entering a competitive market with Whoop, Oura, and Garmin.

This reflects Goyal’s shift toward high-risk, health-tech ventures, following previous investments in longevity and performance startups.

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1 Minute-Read

India’s GDP growth at 7.8% in Oct–Dec quarter

India’s economy grew 7.8% in the October–December 2025–26 quarter, according to revised GDP data using 2022–23 as the base year. The update incorporates broader data sources and improved methodology, giving a clearer picture of economic activity.

The National Statistics Office also raised the full-year growth forecast to 7.6%, reflecting resilience in consumption, manufacturing, and services despite global uncertainties. Analysts say the figures highlight continued domestic demand and industrial output strength.

India remains one of the fastest-growing major economies, with the new data expected to improve the reliability of future economic reporting.

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Corporate

Paramount and Warner Bros. agree on historic $110bn merger

Paramount has agreed to acquire Warner Bros. Discovery in a massive $110 billion deal, a move that could reshape Hollywood. The agreement was announced during a company townhall and follows months of talks.

Under the deal, Paramount will pay $31 in cash per share to Warner Bros. Discovery shareholders. The merger is expected to be completed in the third quarter of 2026, pending approvals from regulators and shareholders. If delays occur, Warner shareholders will receive a small “ticking fee” for the wait.

The deal comes after Netflix chose not to pursue its earlier plan to merge with Warner’s studio and streaming assets, clearing the path for Paramount.

The combined company will bring together Warner’s movies, TV shows and streaming platforms like HBO Max with Paramount’s own content and Paramount+. The new entity will have one of the largest libraries of films and series in the world, strengthening its position against competitors in the streaming space.

Industry analysts say the merger could make the company more competitive in an era dominated by Netflix, Disney and Amazon. However, some critics worry that combining two major studios could reduce competition and affect jobs, prompting careful review by U.S. and state regulators.

If finalized, the merger will be one of the biggest in Hollywood history, changing how movies, TV shows, and streaming content are made and delivered worldwide.

Also Read: PM Modi inaugurates Micron chip plant in Gujarat

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Beyond

New Micron chip plant worth ₹22,500 cr in Gujarat

A major semiconductor facility set up by Micron Technology in Sanand, Gujarat, was started on Friday. This was inaugurated by Prime Minister Narendra Modi, thus marking a significant step in India’s push to become a global electronics manufacturing hub.

The new plant, built with an investment of over ₹22,500 crore, will assemble, test and package semiconductor memory products such as DRAM and NAND chips. These components are widely used in smartphones, laptops, data centres and emerging technologies like artificial intelligence.

The facility is part of the government’s broader semiconductor strategy aimed at reducing India’s dependence on imported chips and strengthening its position in the global supply chain. Officials described it as one of the first large-scale semiconductor projects to begin operations under the national semiconductor mission.

Spread across a large industrial site in Sanand, the plant is expected to generate thousands of jobs over time. Around 2,000 people are already employed, and the workforce is likely to grow significantly as production ramps up. The project is also expected to create indirect employment in logistics, services and ancillary industries.

At the inauguration, Modi said the plant reflects growing global confidence in India’s manufacturing ecosystem. He highlighted the government’s efforts to attract high-tech investments and build a robust semiconductor base in the country.

Industry experts see the Micron facility as a crucial milestone. While India has traditionally relied on other countries for semiconductor production, projects like this are seen as laying the groundwork for a stronger domestic electronics sector.

The chips produced in Gujarat will serve both Indian and international markets, helping integrate the country more deeply into global technology value chains. As demand for memory and data storage continues to rise worldwide, the Sanand plant could play an important role in supporting next-generation digital infrastructure.

Also Read: Fino Payments Bank CEO arrested in GST case

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Leaders

Fino Payments Bank CEO arrested in GST case

Fino Payments Bank Managing Director and CEO Rishi Gupta has been arrested by tax authorities under provisions of the Goods and Services Tax (GST) law, the company confirmed in an exchange filing.

Gupta was taken into custody by officials from the Directorate General of GST Intelligence in Hyderabad as part of an ongoing investigation. The case relates to alleged violations under the GST Act, though the bank clarified that the matter is linked to certain business partners and not to the bank’s own GST filings.

In its statement, Fino Payments Bank said it is cooperating fully with investigators and is providing all required documents and information. The bank also sought to reassure customers and investors that its daily operations continue as usual and that there has been no disruption to services.

Following the arrest, the board of directors moved quickly to ensure continuity in leadership. Chief Financial Officer Ketan Merchant has been appointed interim head of the organisation until further decisions are taken regarding the CEO’s position.

Under the GST law, certain violations, including alleged irregularities in invoicing or tax reporting, can attract criminal proceedings if authorities believe there was intent to evade taxes. However, detailed allegations in this specific case have not yet been made public.

The arrest of a sitting CEO of a listed financial institution has drawn attention across the banking and corporate sectors. Industry observers note that regulatory scrutiny around tax compliance has increased in recent years, particularly in cases involving partnerships and third-party transactions.

Fino Payments Bank, which focuses on serving underbanked and rural customers through digital and assisted banking services, said it will keep regulators informed of any significant developments. For now, the company maintains that business remains steady as the legal process unfolds.

Also Read: Human skills will survive AI wave, states Sridhar Vembu