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Here are the top stories to start your day.
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⭐Airtel launches 5G services
Bharti Airtel has launched its 5G services in India. In the first phase, customers from 8 cities, including Delhi, Mumbai and Chennai, can experience 5G speeds. The company said no SIM change is needed as consumers with 5G smartphones can get 5G enabled on their existing 4G SIM.
⭐ Nykaa eyes global expansion
Online fashion and cosmetics retailer Nykaa has entered into a strategic alliance with Dubai-based Apparel Group. As part of the alliance, both companies will launch multi-brand beauty retail operations across the Middle East. Nykaa will hold a 55% stake in the entity and Apparel Group will hold the rest.
⭐World Bank cuts India’s GDP growth forecast
The World Bank has slashed India's growth forecast to 6.5% for FY23 from its earlier estimate of 7.5%. The Bank said global monetary tightening and spillover effects from the Russia-Ukraine war weighed on the economic outlook. This is the third time the World Bank has revised India’s GDP forecast this year.
Global markets (at 7:30 AM today)
| Indices | Today's movement |
| SGX Nifty | ▼ 0.21% |
| Nikkei 225 (Japan) | ▼ 0.59% |
| Hang Seng (Hong Kong) | ▼ 1.09% |
| SSE Composite (China) | ▼ 0.55% |
| Dow Jones (US) (October 06) | ▼ 1.15% |
| NYSE (US) (October 06) | ▼ 1.17% |
| Nasdaq (US) (October 06) | ▼ 0.68% |
| S&P 500 (US) (October 06) | ▼ 1.02% |
Fact of the day
Porsche has become Europe's most valuable carmaker overtaking Volkswagen.
Source: Economic Times
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