London's Multicultural marketing agency Here and Now365 gets nominated for Creative Excellence at the inaugural Media For All Diversity & Inclusion Awards (MEFA) 2023. The agency was recognized for its Vatika Naturals UK ad "#UnbreakableBonds, UK Father's Day x Pride." Nominations closed on October 23 and judges chaired by WPP's Karen Blackett selected 34 finalists across 6 categories. Here and Now365 founder, Manish Tiwari said: "Multiculturalism is at the core of our values as it is for modern Britain. Happy to be recognized by MEFA for our efforts." Winners will be announced at the awards ceremony on November 21, 2023. MEFA founder Naren Patel welcomed sponsor Sky's support, saying it reflects a "commitment to celebrating DE&I excellence." With its nomination, Here and Now365's creative #UnbreakableBonds ad highlighted its commitment to diversity and inclusion. [Click the LINK below to see all the nominations]

The Indian rupee is forecast to trade near recent record lows against the dollar over the next few months according to a Reuters poll of strategists. Despite India's fast economic growth, the rupee hit 83.29/$ this month. Thanks to RBI dollar interventions, the rupee has fared better than Asian peers, only down 0.6% this year. However, analysts don't expect significant gains yet. Over 30% still expect new lows by January. The rupee is seen recovering slightly to 82.50/$ in 6 months and 82.00/$ in a year as major central banks end tightening. With reversed capital flows next year, RBI intervention is expected to decrease after $23 billion spent in 4 months defending the rupee.

Indian-British banker turned entrepreneur, Roshni Mukherjee was awarded for Women in Business- Empowering Other Women in India at the Indo-UK Business Meet hosted by MP Bob Blackman. Mukherjee, owner of the label Myosutra that "brings forth culture to couture" on sarees, received the award from MP Dean Russel. Starting online operations in 2017, Myosutra now ships globally. "I have always encouraged women to believe in themselves," Mukherjee said. She added that she has "inspired many other women in the UK" and supports women in India through her business. Mukherjee said the award is a "testament to [her] hard work" and a "symbol of hope" for Bengali women entrepreneurs. The event, coordinated by Creative Elements London took place at the Palaces of Westminster on Wednesday, November 8.

Indian Commerce Minister Piyush Goyal is set to meet Tesla CEO Elon Musk in the United States next week, marking a significant step in Tesla's entry into the South Asian market. Discussions will revolve around Tesla's Indian factory establishment, manufacturing a $24,000 car locally, sourcing components, and developing a nationwide charging infrastructure. Talks will also address India's new policy, allowing reduced tax rates of 15% for fully built EV imports, provided automakers commit to local manufacturing. The meeting aims to ensure the ongoing discussions between India and Tesla are progressing positively. Both Tesla and Indian officials have not yet commented on the matter.

The US government, through the International Development Finance Corp., is financing a $553 million port facility in Colombo, Sri Lanka, owned by Indian billionaire Gautam Adani. This move aims to curb China's influence in South Asia. The investment is part of the US's efforts to enhance its engagement in development initiatives across the Indo-Pacific region. The deepwater West Container Terminal project will support Sri Lanka's economic expansion and strengthen regional economic integration with India. The investment signals a renewed push to counter China's "debt-trap diplomacy" and enhance US influence in the region.          

WeWork filed for bankruptcy in the US today as the office rental company continues to struggle amidst Covid-19's economic fallout and its failed 2019 IPO. This comes just months after CEO David Tolley had remarked in a September letter that WeWork is "here to stay" and would renegotiate leases worldwide. His comments vowing the firm's continuance have now gone viral as WeWork pursues Chapter 11 bankruptcy. Since its botched IPO in 2019 and founder Adam Neumann's exit, WeWork has seen declining operations. Its principal owner SoftBank invested billions trying to save WeWork before taking it public via a SPAC in 2021. But the company has been unable to recover from its steep valuation drop from $47 billion during its heyday. (Image Courtesy: ANI)

Air India has announced a strategic interline partnership with Alaska Airlines, enabling seamless travel options for passengers. The collaboration permits Air India customers to connect effortlessly from major U.S. gateways like New York JFK, Newark, Washington DC, Chicago, San Francisco, and Vancouver to 32 destinations in the USA, Mexico, and Canada within Alaska Airlines' network. The partnership includes bilateral interlining, allowing both carriers to sell tickets on each other's networks, and a Special Prorate Agreement for simplified fare structures across multiple destinations. This move amplifies Air India's global presence and enhances passenger convenience.

The Russian government has simplified norms allowing Indian nationals to open bank accounts with Russian banks remotely while still in India. In a social media post, the Russian Embassy in India said Indian tourists or students can now open accounts by approaching an Indian bank tied to the Russian Central Bank. They can then conveniently obtain a debit card to initiate transactions upon arriving in Russia. The Embassy said the process is straightforward and Indian nationals should contact partner Indian banks for guidance on opening these Russia-based accounts. The move is aimed at convenience for Indian tourists and students in Russia.

Tata Steel reported a huge Rs 6,511 crore consolidated loss in Q2FY24 due to one-time charges related to impairments and restructuring. This compared to a Rs 1,297 crore profit last year. Revenue declined 7% to Rs 55,682 crore versus Rs 59,878 crore in Q2FY23. CEO T V Narendran said that Tata Steel India delivered steady performance with 5 million tonnes of crude steel production and 6% higher domestic deliveries despite volatility. Auto and retail sales hit record highs. In the UK, Tata Steel plans to invest in a state-of-the-art EAF facility with government support to cut emissions. The massive loss came despite reasonable operating performance as exceptional charges hammered Tata Steel's

India's festive season spending is booming as consumers splurge on cars, phones, and TVs, boosting one of the world's fastest-growing economies. Online sales at platforms like Amazon and Flipkart rose nearly 20% in the first week of the festive sales compared to last year. Digital UPI transactions surged about 40% in October compared to last year. The festive period, running until Diwali on November 12, is a key indicator of consumption which makes up 60% of India's GDP. Economists point to easing inflation and rising rural wages. Consumer confidence hit a 4-year high in September per central bank data, while loan demand nears a 12-year peak despite rate hikes. PM Modi is also targeting farmers ahead of elections, hiking crop prices and curbing fertilizer costs to spur demand further.