Former IMF chief Rodrigo Rato has been sentenced to nearly five years in prison for various crimes related to corruption. Rato previously spent two years in jail in a separate embezzlement case. The sentencing by a Spanish court can be challenged in the Supreme Court so Rato will not go to prison until there is a final ruling.

Bombay High Court has dismissed a petition challenging a tender awarded to Adani Group to redevelop the Dharavi slum. The petition was filed by UAE-based Seclink Technologies, which won the tender in 2018 before it was cancelled by the Maharashtra government and reissued in 2022. "The grounds raised in the petition lack force and effort," the court said.

The Competition Commission of India (CCI) has approved UltraTech Cement's acquisition of India Cements. In July, UltraTech announced it will acquire a 32.72% stake in India Cements for ₹3,954 crore. It had also announced plans for a ₹3,142.35 crore open offer to acquire another 26% stake in India Cements from its shareholders.

Former RBI Governor Raghuram Rajan said there is no national security rationale for giving $25 billion in subsidies to chip foundries. "Chip foundries aren't necessary in the chip supply chain," he said, adding India will still be dependent on others for wafers and rare earth minerals. "We've 3 lakh chip designers...expand them...Create your own chip firm," he added.

The Indian online gaming industry is at a crossroads as tax authorities gear up to issue final tax demands by February 5, 2025, based on the pending show-cause notices. As the deadline nears, many gaming companies have already been served tax notices by authorities. The demands pertain to the 28% GST levied on betting amounts, an issue currently being deliberated by the Supreme Court.

US President-elect Donald Trump on Friday said that the European Union (EU) will face tariffs if the bloc does not cut its growing deficit with the US by purchasing oil and gas. Reacting to Trump's statement, an EU spokesperson said that the bloc is committed to phasing out energy imports from Russia and diversifying their sources of supply.

Google CEO Sundar Pichai told employees this week that the company had reduced the number of managers, directors, and VPs by 10%, Business Insider reported. He stated that Google made changes over the past couple of years to be more efficient. Some of the affected roles were transitioned to individual contributor roles, while others were eliminated, a Google spokesperson said.

Sensex fell nearly 4,100 points and Nifty dipped about 5% in one week till Friday. As per Moneycontrol, the main reasons behind this are US Federal Reserve's rate cuts, high valuations, sluggish earnings growth and breach of key technical support level. Additionally, FIIs have resumed aggressive selling and turned net sellers this month, further contributing to the dip.

To increase production of green hydrogen to meet India's decarbonisation target, an investment to the tune of INR 8-10 trillion would be needed by 2030. According to a study by SBI Caps, annual use of hydrogen will go up to 15-20 million tonnes by 2030. Additionally INR 4.5 trillion would be needed to set up renewable energy capacity to fuel these new factories.

Cars24 CEO Vikram Chopra sparked a debate online after asking engineers, who can't speak Kannada despite residing in Bengaluru for years, to come to Delhi. "We're not saying Delhi-NCR is better...It really is," Chopra said. "Provide one aspect in which Delhi-NCR is better than Bengaluru and I'll work for you for free," an X user said. "Great initiative," said another.