Asia
The Hindu BusinessLine

LIC Housing Finance Q2 PAT up 11% at ₹150.7 crore

The bank’s outstanding loan portfolio increased 5% to ₹3.26 lakh crore in Q2FY27, as aginst ₹3.11 lakh crore in the year-ago period | Photo Credit: luechai LIC Housing Finance Q2FY27 net profit recorded 11% growth at ₹150.7 crore in the quarter-ended September 2027, as against ₹135 crore posted in the year-ago period. The bank’s net interest income increased just about 2% to ₹2,088 crore in the second quarter of the current fiscal, as against ₹2,038 crore in the year-ago period. The net interest margin inched down to 2.58% in the recently concluded quarter, as against 2.62%. The bank’s outstanding loan portfolio increased 5% to ₹3.26 lakh crore in Q2FY27, as against ₹3.11 lakh crore in the year-ago period. The gross non-profitable assets as a share of advances dipped to 2.05% in September 2026, as against 2.65% in the year-ago period. NNPA ratio reduced to 1.06% from 1.19% in the year-ago period Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments. We have migrated to a new commenting platform. If you are already a registered user of TheHindu Businessline and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.

LIC Housing Finance Q2 PAT up 11% at ₹150.7 crore
Japan
Nikkei Asia

Why is Japan tightening its immigration rules?

TOKYO -- Japan is increasingly becoming dependent on foreign workers, but it has long resisted calling itself an immigrant-receiving country. By the end of 2025, more than 4 million foreign nationals were living in the country. The government has expanded pathways for workers in sectors facing chronic shortages, while also tightening rules for long-term residents and permanent residency. It has capped two major work programs, raised application fees and introduced stricter requirements. That leaves Japan caught between economic need and political pressure to take a tough stance on immigration. What will these changes mean for people hoping to build a life here, and for the businesses and communities that rely on them? To discuss this, Nikkei Asia sat down with Naoko Hashimoto of International Christian University in Tokyo. We talk about whether Japan has a coherent immigration strategy, the rise of populist politics and what the government and employers need to do to help foreign residents integrate.

Why is Japan tightening its immigration rules?
Asia-Pacific
The Straits Times

Steward Leadership 25 awards honour firms that turn social, environmental challenges into growth

Past winner BlueAcres, a privately owned Singapore-based urban and sustainable farm, was recognised as a Steward Leadership 25 honouree under the Empowering Communities category. SINGAPORE – Twenty-five companies whose projects tackle environmental and social challenges while growing profitably will be honoured on Oct 28 at Hilton Singapore Orchard. The winners make up 2026’s Steward Leadership 25 (SL25) list, which is now in its fifth year. The annual award recognises 25 financially viable projects by organisations in Asia and the Pacific that demonstrate steward leadership and achieve profitable growth by addressing environmental and social challenges. It is curated by the Steward Leadership Institute (SLI), the Insead Hoffmann Institute, global advisory firm WTW and The Straits Times. While the first cohort in 2022 was largely concentrated in South-east Asia, four editions and 100 winners later, that footprint has more than doubled from 11 impact geographies to 27, stretching from Mongolia and Japan to Nepal, Sri Lanka and Iraq. SL25 does not classify winners by nationality or company. Instead, it recognises each project by the impact it creates and the places it serves, which it calls impact geographies. Winners are recognised in five impact focus areas: climate and nature; waste and circularity; empowering communities; health; and digital well-being and access. Climate and nature has been the largest category every year, with nine or 10 winners each time. Projects have ranged from sand-based energy storage in Vietnam to restoring grazing land to protect the Great Barrier Reef. The number of winners focused on waste and circularity has risen every year, from two in 2022 to five in 2025. Past winners have turned discarded materials into upcycled safety footwear, recovered critical minerals from electronic waste, and converted farm produce into nutritious powders that reduce food loss. Modelling by global professional services firm PwC suggests that extending the lifespan of materials to create a fully circular economy in the Asia-Pacific could add US$340 billion (S$435 billion) to gross domestic product and create 15 million net new jobs over a one-year period, based on 2022 economic data. Health has also gained ground, with five winners in 2025, compared with one in 2022. Their solutions ranged from on-site preventive care for workers in India to evidence-based standards that make childbirth safer.

Steward Leadership 25 awards honour firms that turn social, environmental challenges into growth
North America
CNBC Finance

Novo's next-generation obesity drug shows 25% weight loss in women in late-stage analysis

Novo on Tuesday said its next-generation obesity drug, CagriSema, showed 25% weight loss on average among adult women in a new analysis conducted after a late-stage trial. The Danish company said further work is needed to confirm the hypotheses of two post-study analyses. Still, the results are the latest evidence that the experimental injection can improve upon the weight loss and other benefits offered by Novo's GLP-1 drug semaglutide, the active ingredient in its blockbuster obesity shot Wegovy and diabetes counterpart Ozempic. CagriSema, a combination of semaglutide and another drug called cagrilintide that targets the amylin pathway, is expected to launch early next year. Obesity drug leaders Novo and Eli Lilly have built new treatments around amylin, which involves a hormone released in the pancreas alongside insulin that helps regulate hunger and fullness, hoping it will give them a new revenue stream beyond existing GLP-1s. In an analysis of roughly 2,300 women with obesity or who are overweight, CagriSema was associated with 25% weight loss on average at 68 weeks compared with 3% with placebo. The results are based on an ideal scenario in which all patients stayed on treatment without interruptions. A second analysis of around 1,900 women grouped by their menopausal status found that weight loss reached 26.7%, 24.8% and 23.1% in premenopausal, perimenopausal and postmenopausal women, respectively, at 68 weeks, if all patients remained on the drug. That compares with approximately 2% across menopause groups with a placebo. Across both analyses, CagriSema was linked to reductions in abdominal fat, based on waist circumference, among women overall and across menopause stages, Novo added. The results suggest that women may experience slightly more weight loss on CagriSema than a broader population of both men and women with obesity saw in the Phase 3 trial. Initial results from the study showed that CagriSema helped adults lose 22.7% of their weight on average at 68 weeks versus 2.3% in the placebo group. However, the majority of patients in the trial — around 67% of roughly 3,400 — were women. Weight gain is very common for women during menopause. Declining estrogen levels can contribute to a slowdown in metabolism, making it easier for women to gain weight and harder to maintain muscle mass. After menopause, estrogen generally remains low and does not return to previous levels. More than 86 million women in the U.S. are 40 and older, according to the U.S. Census Bureau, which are the years in which perimenopause, menopause and postmenopause occur. "Many women with obesity or overweight experience weight gain as they move through menopause, and it is important to explore investigational products such as CagriSema across the reproductive lifespan," said Michelle Skinner Moore, Novo's interim head of clinical development, medical and regulatory affairs. Wall Street has not appeared particularly excited about CagriSema, whose previous late-stage clinical trial results disappointed investors because the drug showed weight loss efficacy below their expectations. Novo, however, maintains CagriSema is effective and differentiated enough from its other drugs to draw significant demand.

Novo's next-generation obesity drug shows 25% weight loss in women in late-stage analysis
Asia
The Hindu BusinessLine

Nifty reclaims 23,000 to end October on a positive note; IT and Pharma lead, midcaps bleed

Markets closed October on a firmer footing on Friday, with benchmark indices posting gains for the third consecutive session even as crude oil’s surge to multi-month highs, a global technology selloff, and deteriorating market breadth reminded investors that the recovery remains uneven. The Nifty 50 gained 0.51 per cent to close at 23,053, reclaiming the 23,000 mark for the first time in eight sessions, while the Sensex rose 0.42 per cent to 74,459.53. On a weekly basis, the Nifty ended 2 per cent higher and the Sensex gained over 1,300 points. The headline number, however, masked significant weakness beneath the surface. “The index closed higher, but nearly two and a half times as many stocks fell as rose. After Thursday’s broad rally, today’s gain was a headline, not a market,” said Sarvam Goel, Founder of Pocketful. Within the Nifty 500 universe, only 108 stocks advanced, and both the Nifty Midcap 100 and Nifty Smallcap 100 ended in the red, falling 0.93 per cent and 1.85 per cent respectively. India VIX climbed around 3 per cent to 15.6. IT, healthcare and pharma were the session’s standout sectors, drawing buying interest even as capital goods, industrials, telecom, auto, PSU banks, media and consumer durables lagged. Trent was the top Nifty gainer, rising nearly 7 per cent after strong second-quarter results and Zudio crossing the 1,000-store milestone. IndiGo also ended firmly in the green. On the losing side, Adani Ports and Shriram Finance were among the key laggards. Laurus Labs was a notable broader-market performer, rising over 7 per cent after its quarterly profit more than doubled. Crude oil remained the dominant macro concern of the session. Brent December futures surged to $117.8 a barrel, their highest level since April, while WTI advanced towards $104 a barrel — putting both benchmarks on course for gains of more than 12 per cent for October. “The reason is crude,” Goel noted, pointing to a tanker hit by explosives in the Strait of Hormuz, Iran’s rejection of Qatar’s ceasefire proposals, and reports of a senior US military commander briefing President Trump on options against Iran ahead of the November 3 midterm elections. For India, elevated crude feeds directly into inflation and keeps the RBI’s next policy move in play. Precious metals offered little refuge. Spot gold slipped below $3,970 an ounce for the first time since mid-July, while silver tumbled more than 3 per cent to around $50.4 an ounce, its lowest since November 2025. Gold and silver are now headed for monthly declines of more than 4 per cent and 16 per cent respectively, as stronger US GDP growth of 3.4 per cent and PCE inflation at 3.6 per cent year-on-year kept rate-hike expectations alive.

Nifty reclaims 23,000 to end October on a positive note; IT and Pharma lead, midcaps bleed
Europe
DW Economy

Can Germany revive its economy before the far-right AfD gains ground?

Conflicts, rising costs and Chinese competition are testing Germany's economic model like never before. Can new growth sectors create jobs and ease voters' economic fears, thereby helping contain the far-right AfD? Chancellor Friedrich Merz's government set out a high-tech agenda focusing on six priority sectors, including artificial intelligence, quantum computing and climate-neutral mobilityImage: NEURA Robotics/pexels.com/@eren-liAdvertisementGermany's export-led economic model faces unprecedented strain just as support for the far-right Alternative for Germany (AfD) party reaches a new peak.  Chinese rivals are steadily eroding the market share of major German industrial players, while persistently high energy prices, elevated labor costs and excessive red tape are adding to the structural crisis. After two years of contraction, real GDP edged up only 0.2% last year, according to the Federal Statistical Office, Destatis. Exports to China fell 9.7% in 2025, withGerman vehicle and part shipments plunging by a third. While there are signs the German economy is turning the corner, the government's latest forecast of 1.3% growth in 2026 is still modest compared with the pre-COVID boom years. The AfD is currently polling ahead of all other political parties in Germany. The country's many economic challenges have been a major factor in the right-wing populists' rise. Germany's domestic intelligence agency sees reliable indications that the AfD is right-wing extremist in its entirety. The party has vowed to put Germany back on a growth path by ending the transition to renewable energies, lowering taxes and renegotiating European Union treaties, while also reforming welfare and sharply restricting immigration. As Chancellor Friedrich Merz's coalition searches for a fresh growth strategy to fend off the rise in populist politics, the government has set out its high-tech agenda focusing on six priority sectors. These are artificial intelligence (AI), quantum computing, microelectronics, biotechnology, clean energy (including nuclear fusion) and climate-neutral mobility.  Irene Bertschek, head of the Digital Economy research unit at the Leibniz Center for European Economic Research (ZEW), argues that Germany's research in these "key enabling technologies is very strong, particularly in the area of climate-neutral technologies." Yet, the results are often commercialized abroad, Bertschek told DW, with the United States leading in AI and China closing the gap quickly.

Can Germany revive its economy before the far-right AfD gains ground?
Europe
DW Economy

Can Germany revive its economy before the AfD gains ground?

Conflicts, rising costs and Chinese competition are testing Germany's economic model like never before. Can new growth sectors create jobs and ease voters' economic fears, thereby helping contain the far-right AfD? Chancellor Friedrich Merz's government set out a high-tech agenda focusing on six priority sectors, including artificial intelligence, quantum computing and climate-neutral mobilityImage: NEURA Robotics/pexels.com/@eren-liAdvertisementGermany's export-led economic model faces unprecedented strain just as support for the far-right Alternative for Germany (AfD) party reaches a new peak.  Chinese rivals are steadily eroding the market share of major German industrial players, while persistently high energy prices, elevated labor costs and excessive red tape are adding to the structural crisis. After two years of contraction, real GDP edged up only 0.2% last year, according to the Federal Statistical Office, Destatis. Exports to China fell 9.7% in 2025, withGerman vehicle and part shipments plunging by a third. While there are signs the German economy is turning the corner, the government's latest forecast of 1.3% growth in 2026 is still modest compared with the pre-COVID boom years. The AfD is currently polling ahead of all other political parties in Germany. The country's many economic challenges have been a major factor in the right-wing populists' rise. Germany's domestic intelligence agency sees reliable indications that the AfD is right-wing extremist in its entirety. The party has vowed to put Germany back on a growth path by ending the transition to renewable energies, lowering taxes and renegotiating European Union treaties, while also reforming welfare and sharply restricting immigration. As Chancellor Friedrich Merz's coalition searches for a fresh growth strategy to fend off the rise in populist politics, the government has set out its high-tech agenda focusing on six priority sectors. These are artificial intelligence (AI), quantum computing, microelectronics, biotechnology, clean energy (including nuclear fusion) and climate-neutral mobility.  Irene Bertschek, head of the Digital Economy research unit at the Leibniz Center for European Economic Research (ZEW), argues that Germany's research in these "key enabling technologies is very strong, particularly in the area of climate-neutral technologies." Yet, the results are often commercialized abroad, Bertschek told DW, with the United States leading in AI and China closing the gap quickly.

Can Germany revive its economy before the AfD gains ground?
Europe
The Guardian

The young Americans choosing Y2K cars over shiny new SUVs: ‘I get so much crap from people’

Chase Che, left, poses with his 2004 Mazda6 during the Caffeine and Octane car show in Kennesaw, Georgia, on 4 October 2026. Stevie Dombrowski stands beside his 2007 Ford Mustang, which he affectionately calls the ‘Broke-Stang’.View image in fullscreenChase Che, left, poses with his 2004 Mazda6 during the Caffeine and Octane car show in Kennesaw, Georgia, on 4 October 2026. Stevie Dombrowski stands beside his 2007 Ford Mustang, which he affectionately calls the ‘Broke-Stang’.US newsThe young Americans choosing Y2K cars over shiny new SUVs: ‘I get so much crap from people’People under 35 are hunting for no-frills rides they can pay for in cash and fix themselves – defying expectations to take on steep loans Jack Price joined the marines in fall 2021 knowing he would need a car to get around base and that he couldn’t afford a new one. A joyless, month-long search through dealer classifieds and Facebook Marketplace listings ended when his mother spotted a 2010 Volkswagen Jetta posted on her office listserv by a co-worker moving abroad. With just 60,000 miles (96,560km) on the meter, the car (a manual!) was mechanically sound, and the air conditioning, sunroof and Bluetooth radio worked too. At $6,000, it was a steal. Price paid in cash. Five years on, the Jetta, which he called the Pewter Pebble, is still carting him from A to B in unassuming style. “I’ve completely driven it into the ground,” says the 30-year-old, who lives in Los Angeles. “All over bases, cross-country a couple times, not really lovingly. I get so much crap from people, but not people my age.” For generations, buying a first new car has been a rite of passage in the US, the clearest sign of a young person responsibly striking out on their own. But younger millennials and gen Z are increasingly finding that path blocked. The average new vehicle costs more than $50,000, an alarming figure that reflects Americans’ insatiable appetite for progressively larger SUVs and pickups. Meanwhile, adults under 35 are disappearing from showroom floors, accounting for less than 10% of new vehicle registrations in 2024 – a new low. View image in fullscreenTrey Kemp looks through the rain-covered window of his 1989 Ford F-150 during the Caffeine and Octane car show.According to the credit reporting agency Experian, the average monthly car payment in the US is $765 for a new car and $542 for a used one, with the loan terms now stretching to six, even seven, years. A record 21% of new-car buyers pay $1,000 or more a month, according to the autos research group Edmunds. And that’s before factoring in maintenance, fluctuating gas prices and the eye-watering insurance premiums often charged to drivers under 35. For many young Americans already under the strain of student loans, high housing costs and an unforgiving labor market, buying a new car or even a newer used one is out of the question. Enter the Y2K car – the retro ride that has become a trendy romantic choice for some younger Americans. “There’s definitely a golden era of cars from the late 90s and early 2000s that people just really want all of a sudden,” says Charlie Spears, a service adviser at an independently owned repair shop in Atlanta who conducts prepurchase inspections of used cars on demand. “A lot of people just want something that’s not going to fail them.” Y2K cars don’t encompass everything produced in that era. They are the ones that simply won’t die. Think wedge-shaped Honda Accords and slab-sided Toyota Camrys: dependable, hand-me-down transport that can last 150,000 miles or more with routine maintenance. (Price’s Jetta, which was built at the end of a model production run that began in 2005, just makes the cut.) They’re economical to run and relatively inexpensive to insure, owing to their drastically lower worth. Best of all, the purchase price is low enough to pay in cash. Even when buyers need a loan – at steep interest rates as modern cars have in effect become mortgage payments on wheels – they can pay it off in a fraction of the time it takes to finance a newer car. The supply of these bargains is dwindling: used vehicles priced under $15,000, the sweet spot for Y2K cars, have shrunk from 21% of inventory a year ago to 15%, according to industry analysis from Cox Automotive – numbers that speak to the demand for affordable cars. “Part of the draw is the nostalgia factor – people wanting cars they grew up with,” says Consumer Reports’ autos expert Keith Barry. “An old car with the right music on is kind of the closest thing to a time machine.” On social media, the Y2K car has emerged as an ironic status symbol – a marker of maturity, grit and lack of pretense. Defects – busted aircon, glitchy windows, bits and bobs that have failed, fallen off or been held on with gaffer tape – are simply treated as part of a Y2K car’s personality. “I don’t know what kind of disease that is in the brain,” says one TikTok creator, who has to pry open the fuel door of her 2003 Mitsubishi Outlander with a screwdriver. “But I don’t get frustrated. I’m like, ‘Oh, this is fun.’” In a Y2K car that takes a lickin’ and keeps on tickin’, creature comforts are beside the point. For many, part of the appeal is the absence of dashboard infotainment displays and other screens that have replaced basic switches and knobs in newer cars, often in the name of cost-cutting. Automakers’ zeal to monetize in-car technology, sometimes charging extra to activate physically installed features such as heated seats and remote start, only reinforces young buyers’ doubts about the value of a new car. At the same time, do-it-yourself repairs have become harder as cars grow more digitally complex and auto manufacturers cut off access to owners and even independent mechanics. Oftentimes, they require investing in specialty digital readers or computer software to diagnose problems, and bespoke tools for wrenching. Most car owners would sooner punt, take the car to the dealership and pay whatever the maintenance and repair costs – which, of course, is exactly the vertical integration that shareholder-bound manufacturers are after. View image in fullscreenA 1990s-era Honda Civic sits in front of a row of newer sports cars as car show attenders wait out the rain. The event draws a mix of older enthusiast cars, daily drivers and newer performance vehicles.Hence the romance with Y2K cars: you can fix ’em yourself, their old-school controls fall easily to hand, they’re tried and tested, seemingly built to last. They just have an aura of invincibility – never mind that their age makes them fundamentally more dangerous and susceptible to frequent repairs. “I’ve used my Jetta as if it were a truck,” Price says. “Transported trees in it, put my surfboard through the sunroof. I’ve done every single thing possible to thrash it beyond its abilities.”

The young Americans choosing Y2K cars over shiny new SUVs: ‘I get so much crap from people’
Europe
BBC Business

UK to invest £100m in 'world first' AI Biosecurity Lab

Image source, Getty ImagesByLiv McMahonTechnology reporterPublished3 hours agoThe UK says it will establish a national AI Biosecurity Lab (AIBL) to help strengthen its defences against emerging biological threats. As part of Wednesday's Budget, the government will commit £100m to establishing the new, "world first" institute with the support of leading AI firms. The chancellor will also pledge millions of pounds in spending across a range of initiatives aimed at shoring up the UK's ability to respond to evolving cyber, biological and AI-enabled threats. "AI will transform daily life: every firm, community, hospital, school, and every aspect of our economy can benefit," John Healey said. "I understand and share the concerns of working people, so I am setting out a distinctively British approach to AI. "One that doesn't leave workers behind and defends our national interest, while ensuring the benefits of AI-enabled growth are felt right across the country." But the AI Minister Kanishka Narayan said it would be a "major new global institution" that brings together "world-leading scientific expertise" to ensure the UK can safeguard its citizens and goals as AI develops. "That means staying ahead of emerging threats, from cyber attacks to biological risks, while building more of the critical technology our security depends on," he said. "By backing British science, advanced chips and our own AI companies, we can strengthen our national security, rebuild Britain's industrial strength and create good, skilled jobs across the country." The AI Biosecurity Lab's creation will also be supported by leading AI developers, with OpenAI and Anthropic providing £200m worth of AI model credits that can be spent on the use of their models. The Chancellor's plans to boost AI spending will also see an additional £120m committed to the UK's AI Security Institute (AISI). Established by the former Conservative government in 2023, the lab evaluates the risks of the most advanced and powerful models - and has been championed for its role in helping build a collaborative and open approach to AI testing.

UK to invest £100m in 'world first' AI Biosecurity Lab