Google Search experienced a widespread outage, with users in various regions reporting a "Server Error" message. The error indicated an internal server issue preventing access to search results. Google engineers have been notified and are actively working to resolve the problem.
India's family office sector now exceeds 300 entities, managing over $30 billion in assets. The number of high-net-worth families is projected to grow significantly by 2030, with intergenerational wealth transfer expected to reach $1.5 trillion. Next-gen investors are increasingly involved in decisions, favoring startup allocations.
Digital gold providers in India are increasing book audits and physical vault checks to boost transparency, as the sector gains 80 million customers. This self-regulatory move follows SEBI's observation of the sector being 'unregulated'.
India's High Court ruled that payments for employees deputed to India by foreign firms are taxable 'foreign technical services' (FTS), not cost reimbursements. This decision against EY US could increase costs for MNCs by up to 10%, prompting re-evaluation of secondment arrangements and GST liabilities.
India's drug regulator is proposing to allow hospitals to directly import advanced medical equipment like MRI and CT scanners, bypassing current import licenses to speed up access to technology. The domestic medical device industry opposes this, citing safety risks and lack of specialized expertise in hospitals.
The dollar remains strong against most currencies, nearing a 40-year low against the yen. Federal Reserve projections hinting at a year-end rate hike are boosting the dollar, while traders watch for potential Japanese intervention to support the yen.
IHG Hotels & Resorts plans significant expansion in India, aiming to deepen its partnership with Adani Airport Holdings (AAHL) beyond a recent five-hotel deal. The company seeks to launch more hotels at airports and in urban commercial hubs, leveraging AAHL's infrastructure to capitalize on India's growth and demand.
