Category Archives: business

PM Modi Inaugurates ₹19,646 Crore Navi Mumbai International Airport; Fadnavis Says Project Will Boost Maharashtra’s GDP By 1%

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Prime Minister Modi Inaugurates First Phase of Navi Mumbai International Airport

Mumbai: Prime Minister Narendra Modi inaugurated the first phase of the much-awaited Navi Mumbai International Airport (NMIA) on Wednesday, seven years after laying its foundation stone. Developed at a cost of Rs 19,646 crore, the project is being hailed as a milestone in India’s aviation infrastructure.

Asia’s Largest Connectivity Hub

Calling NMIA Asia’s biggest connectivity hub, PM Modi said the airport marks the beginning of a new era for Maharashtra and the country’s aviation sector. Chief Minister Devendra Fadnavis claimed that the project would increase the state’s GDP by 1%.

The Prime Minister landed at the airport at 2:45 p.m., inaugurating it through a digital toran ceremony at the terminal entrance. He then toured the state-of-the-art facility along with Governor Acharya Devvrat, Deputy Chief Ministers Ajit Pawar and Eknath Shinde, Union Civil Aviation Minister K.R.M. Naidu, MoS Murlidhar Mohol, and industrialist Gautam Adani, whose company developed the project in partnership with CIDCO.

Modi also interacted with a group of specially-abled individuals operating a food outlet at the terminal.

Connecting Farmers and Fisherfolk to Global Markets

After inaugurating India’s first twin-aviation hub, PM Modi said NMIA would directly connect Maharashtra’s farmers and fisherfolk with international supply chains, including supermarkets in Europe and the Middle East. He emphasized that the new infrastructure would reduce logistical costs for small and micro enterprises, spur investment, and generate new industries and jobs.

“Mumbai’s long wait ends here. NMIA bears the reflection of a Viksit Bharat. It is a lotus blooming on the land of Chhatrapati Shivaji Maharaj,” he said, referring to the airport’s lotus-inspired design.

Part of Mumbai’s Dual-Airport System

NMIA is envisioned as part of a dual-airport system for the Mumbai Metropolitan Region (MMR), complementing Chhatrapati Shivaji Maharaj International Airport (CSMIA) in Sahar. With an initial capacity of 20 million passengers per annum, the airport will eventually handle 90 million passengers, making it one of India’s largest airports.

The first two phases will feature one runway and a single terminal, before scaling up to four runways and multiple terminals.

Fadnavis Credits Modi for Fast-Tracking Clearances

Chief Minister Devendra Fadnavis recalled that the airport had been conceptualized in the 1990s but remained stalled for decades. “For years, there was only a board displaying the airport’s name. When PM Modi reviewed the project, seven of eight pending permissions were cleared in the first meeting,” he said.

Fadnavis also highlighted that NMIA will be India’s first airport connected by water taxis, further enhancing multi-modal transport options.

Aviation Growth and Future Projects

Union Civil Aviation Minister K.R.M. Naidu noted that since 2014, Mumbai’s domestic air traffic has risen by 70% and international traffic by 50%. The government now aims to triple annual passenger traffic from 5 crore to 15 crore.

He also announced plans for the country’s first offshore airport near the upcoming Vadhavan Port in Palghar, marking another milestone in Maharashtra’s aviation infrastructure.

“India’s financial capital is now also its aviation capital. With NMIA, airlines will no longer struggle for slots — every Mumbaikar will feel proud of this achievement,” Naidu added.

Public-Private Partnership Between CIDCO and Adani Group

The airport has been developed under a Public-Private Partnership (PPP) model between the City and Industrial Development Corporation (CIDCO) and Adani Airport Holdings Ltd (AAHL), holding 26% and 74% equity stakes, respectively.

CIDCO oversaw planning, land acquisition, rehabilitation, and pre-development work, while AAHL is responsible for development and operations.

Legacy of Visionaries Behind the Project

Several former CIDCO managing directors and chairmen attended the inauguration, many of whom contributed to NMIA’s inception.

Former CIDCO MD Sanjay Bhatia (2013–2016) expressed pride in seeing the project’s completion: “It’s wonderful to see something I nurtured in its early stages come to life. During my tenure, I worked on land acquisition for this dream project,” he said.

https://www.freepressjournal.in/mumbai/pm-modi-inaugurates-19646-crore-navi-mumbai-international-airport-fadnavis-says-project-will-boost-maharashtras-gdp-by-1

Bombay HC blocks Shilpa Shetty and Raj Kundra’s international travel amid Rs 60 crores fraud case

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**Bombay High Court Blocks Shilpa Shetty and Raj Kundra’s International Travel Amid Rs 60 Crores Fraud Case**

In a significant development in the ongoing Rs 60 crores fraud case involving Bollywood actress Shilpa Shetty and her husband, businessman Raj Kundra, the Bombay High Court has raised serious questions about their request to travel abroad.

The couple had approached the court seeking permission to travel to Colombo and other destinations for a business trip. However, the court, led by Chief Justice Shree Chandrashekhar and Justice Gautam Ankhad, expressed scepticism over the nature of the trip.

Their counsel, Niranjan Mundargi, was directed to submit an affidavit detailing the purpose of the trip. This affidavit must include formal communications and evidence supporting the claim that the travel was indeed for business purposes. The court granted them time until October 14 for the submission of these details.

During the proceedings, when Mundargi reiterated that the trip was for business, Chief Justice Shree Chandrashekhar remarked with a smile, “You can first deposit Rs 60 crores if you wish to travel abroad.” This comment underscores the court’s serious approach to the case and reflects its scrutiny of the couple’s actions.

The Economic Offences Wing (EOW) of the Mumbai Police is investigating allegations that Shetty and Kundra diverted investment funds for personal use. In light of the ongoing investigation, the court has not issued any immediate orders regarding the Look Out Circular (LOC) issued against them. The matter is scheduled for further hearing on October 14.

This development adds to the mounting legal challenges faced by the couple, who remain under intense scrutiny over their financial dealings. As the investigation progresses, the court’s forthcoming decisions will be crucial in determining the future course of action.

### Background on the Fraud Allegations

In a related matter, the EOW of the Mumbai Police is investigating a case involving businessman Deepak Kothari. Kothari has accused Shetty and Kundra of diverting Rs 60 crores of his investment for personal use.

The EOW’s findings indicate that Kothari’s funds were misused, leading to the filing of a case against Shilpa Shetty, Raj Kundra, and an unidentified associate. They have been charged under sections 403 (dishonest misappropriation of property), 406 (criminal breach of trust), and 34 (common intention) of the Indian Penal Code.

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**Also Read:**
– [Shilpa Shetty questioned for 4.5 hours by Mumbai Police in Rs 60 crores fraud case: Reports]

*Stay tuned for live updates on this developing story.*
https://www.bollywoodhungama.com/news/bollywood/bombay-hc-blocks-shilpa-shetty-raj-kundras-international-travel-amid-rs-60-crores-fraud-case/

Bhopal News: No Prescription, No Problem; City Chemists Selling Almost All Medicines Over The Counter

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**Medicines Readily Available Without Prescription in Bhopal Pharmacies, But Rules Remain**

*Bhopal (Madhya Pradesh):*

In many medical stores across Bhopal, almost all medicines are available for purchase without a doctor’s prescription. Except for some psychiatric medicines and high-end antibiotics classified as Schedule H1 drugs, pharmacies are reportedly selling other medicines without insisting on prescriptions from Registered Medical Practitioners.

Chemists, however, maintain that they strictly adhere to regulations and do not sell prescription-only drugs without a doctor’s authorization. Pharmacies are permitted to sell certain products Over the Counter (OTC), which include Ayurvedic and herbal preparations, dietary supplements, and cosmetics.

According to the rules, the owner of a medicine shop should be a pharmacy graduate, and at least one qualified pharmacist must be present in the shop at all times. However, not all employees working at the pharmacy need to be pharmacists.

Ansh Chawla, owner of Moolchand Pharmacy, explained, “I don’t require a prescription to sell electoral powder, Borolin, Strepsils, or multivitamins.” He added that entire product ranges from brands like Himalaya, Baidyanath, and Dabur fall under the OTC category.

Chawla emphasized that drugs listed under Schedules H1 and H of the Drugs and Cosmetics Rules, 1945 cannot be sold OTC, whether generic or branded. “They can be sold only when prescribed by a qualified and registered doctor,” he said. He further detailed the procedure followed if a prescribed medicine is not available: “We call the doctor to ask whether we can substitute it with another drug. If the doctor consents, we write the name of the substitute and then provide the medicine to the buyer.”

Ashish Yadav from Yadav Medicos shared that about 90% of their sales are based on prescriptions. Items such as Vicks, Bournvita, and Jhandu Balm are sold without prescriptions, he said, adding that they do not sell pediatric medicines without a valid prescription.

However, contrary to the claims made by chemists, a recent check by a reporter found that a strip of Meftal tablets and cough syrup were easily purchased from two different medical stores without a prescription.

Dr. Meet Dwivedi commented, “Chemists can sell nutraceuticals, cosmetics, and products like Dettol over the counter. However, medicinal drugs require a doctor’s prescription. Cough syrups are not OTC products. They can cause nausea and lethargy and should not be sold or consumed without a doctor’s advice.”

Jitendra Dhakad, President of the Chemists Association, Bhopal, added, “Medicines should be sold only on a doctor’s prescription. A pharmacist should be present at the shop at all times to supervise the sale of medicines and ensure that they are stored at the correct temperature and in proper conditions. However, there is no rule mandating that every staff member must be a pharmacist.”

*— Story by Staff Reporter*
https://www.freepressjournal.in/bhopal/bhopal-news-no-prescription-no-problem-city-chemists-selling-almost-all-medicines-over-the-counter

Why J&J has been fined $966M in the US

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**Why J&J Has Been Fined $966M in the US**
*By Dwaipayan Roy | Oct 08, 2025, 05:15 PM*

Johnson & Johnson (J&J) has been ordered by a Los Angeles jury to pay $966 million to the family of a woman who died from mesothelioma, a rare form of cancer. This ruling follows the jury’s finding that the company’s talc products were linked to cancer.

### Background of the Case
The lawsuit was filed by the family of Mae Moore, an 88-year-old California resident who passed away in 2021. The family initiated the case against J&J in the same year, alleging that the company’s talc products contributed to her illness.

### Verdict Details
The jury awarded $16 million in compensatory damages and an astounding $950 million in punitive damages against J&J. In response, Erik Haas, J&J’s global vice president of litigation, announced the company’s intention to appeal the decision. He described the verdict as “egregious and unconstitutional” and criticized the plaintiff lawyers for relying on what he called “junk science” that should not have been admitted in court.

### Product Safety and Company Response
Despite the verdict, J&J maintains that its talc-based products are safe, contain no asbestos, and do not cause cancer. The company discontinued sales of talc-based baby powder in the United States in 2020, transitioning to a cornstarch-based alternative. It is important to note that mesothelioma has been medically linked to asbestos exposure.

Trey Branham, attorney for Moore’s family, expressed hope that this ruling will finally hold Johnson & Johnson accountable for what he termed “senseless deaths.”

### Ongoing Litigation
Johnson & Johnson currently faces over 67,000 lawsuits alleging cancer caused by its baby powder and other talc products. While the majority of these claims relate to ovarian cancer, mesothelioma cases form a smaller portion of the litigation.

The company has attempted to resolve the mass litigation by filing for bankruptcy protection, but three such proposals have been rejected by federal courts.

### Settlement and Trial Landscape
Though J&J has settled some mesothelioma claims, it has yet to achieve a nationwide settlement agreement. Consequently, many mesothelioma lawsuits have proceeded to trial in various state courts over recent months.

In the past year alone, J&J has faced several significant verdicts related to mesothelioma, with Monday’s ruling representing one of the largest monetary penalties to date. The company has, however, successfully reduced some awards on appeal, including a $260 million verdict overturned by a state judge in Oregon.

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This recent verdict underscores the ongoing legal challenges Johnson & Johnson faces concerning its talc products and the serious claims raised by affected consumers and their families. The company’s appeal process will be closely watched as these cases continue to unfold.
https://www.newsbytesapp.com/news/business/j-j-hit-with-966m-verdict-in-talc-cancer-trial/story

‘Deposit ₹60 crore’: Bombay High Court tells Shilpa Shetty, Raj Kundra amid plea seeking permission to travel abroad

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**Bombay High Court Demands ₹60 Crore Deposit to Consider Shilpa Shetty and Raj Kundra’s Plea to Travel Abroad**

The Bombay High Court on Wednesday demanded a ₹60 crore deposit to consider the plea filed by actress Shilpa Shetty and her husband Raj Kundra seeking permission to travel abroad, according to reports by news agencies.

This order comes after the couple approached the High Court to quash a Look Out Circular (LOC) issued against them in connection with an FIR relating to an alleged ₹60 crore fraud case.

**Details of the Fraud Case Against Raj Kundra and Shilpa Shetty**

The case originates from a complaint filed by businessman Deepak Kothari, who accused Shilpa Shetty and Raj Kundra of inducing him to invest ₹60 crore in their now-defunct venture, Best Deal TV Pvt Ltd, between 2015 and 2023. Kothari alleged that the funds were later diverted for personal use.

Raj Kundra has already been questioned by the Economic Offences Wing (EOW) of the Mumbai Police. The LOC against the couple was issued at the request of the EOW.

On Tuesday, Shilpa Shetty was questioned by EOW officials for approximately four and a half hours in connection with the ₹60 crore fraud case.

**What Was the Couple’s Plea?**

In their petition, Shilpa Shetty and Raj Kundra claimed that Shilpa resigned from the company in 2016. They emphasized the need to travel abroad for professional commitments and argued that denying them this opportunity would amount to a violation of their fundamental rights.

The Bombay High Court’s demand for a ₹60 crore deposit highlights the seriousness of the case as it continues to unfold.
https://www.livemint.com/news/india/deposit-rs-60-crore-bombay-high-court-tells-shilpa-shetty-raj-kundra-amid-plea-seeking-permission-to-travel-abroad-11759913314874.html

WTO says AI-related buying binge, spike in US imports spur unexpected rise in goods trade

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GENEVA (AP) — The World Trade Organization is sharply raising its forecast for trade growth in goods this year after an unexpectedly strong first half. This growth has been driven by rising AI-related purchases, front-loaded imports in the U.S. over tariff fears, and robust developing-world trade.

The Geneva-based trade body said Tuesday that its economists are increasing their prediction of global trade expansion, reflecting these positive developments.

https://business.inquirer.net/551475/wto-says-ai-related-buying-binge-spike-in-us-imports-spur-unexpected-rise-in-goods-trade

Tata Group Crisis Brewing? Top Guns Meet Amit Shah As Tensions Rise Over Governance & Board Appointments

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A Crisis Brewing Within the Tata Empire: Government Intervention Underway

A crisis appears to be brewing within the highly respected Tata empire. Reports indicate escalating tension primarily between Tata Sons and a section of Tata Trusts over board appointments and governance issues.

Key Tata Group leaders—including Tata Trusts chairman Noel Tata, Tata Sons chairman N. Chandrasekaran, Tata Trusts vice-chairman Venu Srinivasan, and trustee Darius Khambata—met on Tuesday with Union Home Minister Amit Shah at his residence. Finance Minister Nirmala Sitharaman was also present during the meeting. The Tata Group has refrained from commenting on the matter.

### Government Steps In to Maintain Stability

The Central government, reportedly keen on preserving stability within the $180 billion corporate behemoth, has decided to intervene in order to prevent the crisis from escalating. This development comes on the eve of the first death anniversary of Ratan Tata, the visionary leader who propelled the group to global prominence through major acquisitions in the West.

### Roots of the Conflict

It is understood that tensions began surfacing as early as 2017—not only between Tata Sons and Tata Trusts but also within the Trust itself. Ratan Tata’s towering personality and astute leadership had historically ensured internal stability, but his absence has allowed these fissures to widen.

Tata Trusts wields decisive influence over India’s most valuable conglomerate through its approximately 66% stake in Tata Sons, the promoter and holding company of the salt-to-semiconductor group.

### Divisions Within Tata Trusts

Sources reveal that Tata Trusts is currently vertically split. One faction aligns with Noel Tata, who took over as chairman of the Trusts following Ratan Tata’s death. The opposing faction consists of four trustees led by Mehli Mistry, who has affiliations with the extended Shapoorji Pallonji family—the family that owns roughly 18.37% of Tata Sons.

Mehli Mistry reportedly feels excluded from key decisions, exacerbating existing tensions.

### The Core Dispute: Board Seats at Tata Sons

The flashpoint centers on board seats at Tata Sons, which controls the 156-year-old Tata Group—comprising around 400 companies, including 30 publicly listed firms.

A source commented, “The primary question before the government, considering how significant the Tata Group is to the country’s economy, is whether it can allow an individual to take control of it. The infighting among trustees of Tata Trusts has an impact on Tata Sons.”

As one of India’s most iconic business conglomerates, the outcome of this internal dispute will be closely watched by industry experts and stakeholders alike. The government’s involvement underscores its commitment to safeguarding the stability of this vital corporate entity.
https://www.freepressjournal.in/business/tata-group-crisis-brewing-top-guns-meet-amit-shah-as-tensions-rise-over-governance-board-appointments

Japan and Indonesia Sign Agreement to Simplify Customs Procedures

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Japan has recently expanded its Authorized Economic Operator (AEO) certification agreement to include Indonesia, marking its 15th such partnership with countries around the world. This strategic arrangement is designed to streamline customs clearance processes and boost logistics and business exchanges between the two nations.

The agreement was officially signed by the Japanese government and Indonesia on October 8th. Under this framework, companies that have demonstrated reliable security and compliance systems will be granted AEO certification. This certification allows eligible companies to benefit from faster and more efficient import and export procedures, reducing delays at customs checkpoints.

Japan has already implemented similar agreements with 14 other countries, and the addition of Indonesia further enhances this network. The Ministry of Finance, which oversees customs operations, emphasized that the new pact will enable cargo inspections during import and export to proceed more promptly, facilitating smoother trade flows.

Both Indonesia and Japan are key trading partners for each other. With this new agreement in place, the governments expect to strengthen bilateral economic ties while supporting seamless logistics and business operations. This move is anticipated to invigorate trade activities and promote greater cooperation between the two countries in the years ahead.
https://newsonjapan.com/article/147195.php

“Caitlin Clark Nation weeping right now” – WNBA fans erupt as Aces-Mercury Finals Game 1 shatters 28 years viewership record despite Fever’s exit

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The 2025 WNBA Finals kicked off with a bang, as the opening game became the most-watched Game 1 since the league’s inaugural season in 1997.

This impressive viewership milestone highlights the growing popularity and expanding fan base of the WNBA. Basketball enthusiasts across the country tuned in to witness the thrilling start to the championship series, signaling a bright future for women’s professional basketball.
https://www.sportskeeda.com/us/wnba/news-caitlin-clark-nation-weeping-right-now-wnba-fans-erupt-aces-mercury-finals-game-1-shatters-28-years-viewership-record-despite-fever-s-exit

“Caitlin Clark Nation weeping right now” – WNBA fans erupt as Aces-Mercury Finals Game 1 shatters 28 years viewership record despite Fever’s exit

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The 2025 WNBA Finals kicked off with a bang, as the opening game reportedly became the most-watched Game 1 since the league’s inaugural season in 1997.

This milestone highlights the growing popularity and increasing viewership of the WNBA, showcasing the league’s expanding fan base and the excitement surrounding women’s professional basketball.

Fans and analysts alike are optimistic about what this means for the future of the league, anticipating even more thrilling moments and record-breaking attendance in the seasons to come.
https://www.sportskeeda.com/us/wnba/news-caitlin-clark-nation-weeping-right-now-wnba-fans-erupt-aces-mercury-finals-game-1-shatters-28-years-viewership-record-despite-fever-s-exit