Houthi missiles hit Aden palace as Saudi Arabia points to IranSchool roof collapse in Peshawar kills dozens of pupils and a teacherAsian tech stocks plunge as AI debt and inflation fears spreadUkraine resumes refinery strikes after pause under US energy truceStarshield restored after Kyiv blames politics for outageUS military prepares 'mother of all bombs' option for possible Iran strikesSeven sailors missing after drones hit two tankers off RomaniaRussia launches record drone swarm as US energy ceasefire collapsesKenya confirms second Ebola case as Congo health workers strikeContainer ship sinks near Hormuz as UN warns of fertiliser shortfallKremlin says diesel exports restart as Germany rejects US asset planUS producer prices surge, feeding bets on Fed rate hikeG20 ministers flag yield and currency worries as Iran war keeps energy costlyFighters attack army base in Borno, killing soldiersAlbania's Rama rejects resignation as student protests turn violentIEA speeds up oil stock release beyond 400 million barrelsIstanbul flood death toll rises to three, four missingIsrael halts commercial goods into Gaza amid dispute over truck feesNorth Korea tests submarine-launched missiles as China bridge opensEU leaders clash over trillion-euro budget at Brussels summitIsraeli ad firm used online ads to help install spyware, researchers sayEight US states sue OpenAI as FTC subpoenas OpenAI and AnthropicFrench debt worries spill into stocks, driving biggest underperformance since 2010Smartphone shipments crash 22% in worst quarter everEU-Gulf summit and Saudi events postponed amid Houthi attacksPope Leo recovering after lung cancer surgeryIndonesian fires deepen regional haze as pressure grows on JakartaFrance and Germany agree car deal softening 2035 combustion banMaduro pleads not guilty to US torture conspiracy chargesBrazil abolishes six-day workweek as Bolsonaro gathers endorsements before run-offHezbollah says it owned explosives seized by Lebanese armyHamburg court jails two men over Iran-backed plots against Beck and SchusterHezbollah claims seized vehicle as Iran reportedly orders readinessVoter frustration and inflation weigh on Trump ahead of US midtermsFrench student protests continue as police union plans lawsuitIndia approves Fairfax's $5.6bn takeover of IDBI BankTrump administration seeks to strip Ilhan Omar of citizenship, reports sayRussian investigators search Novaya Gazeta editor's home and question Sergei SokolovTens of thousands march in Colombia's first national strike against De la EspriellaResearchers fear Z.ai's GLM-5.3 can fake AI safety testsTrump cancels livestream of Fort Hood shooter's executionRussia detains Swedish man over alleged sabotage plotSuspect in OpenAI bugging case allegedly booked one-way flight to Saudi ArabiaSwedish parliament rejects Andersson as prime minister amid government deadlockEthiopian forces expand control in Tigray as Eritrea denies troop movementsHouthi missiles hit Aden palace as Saudi Arabia points to IranSchool roof collapse in Peshawar kills dozens of pupils and a teacherAsian tech stocks plunge as AI debt and inflation fears spreadUkraine resumes refinery strikes after pause under US energy truceStarshield restored after Kyiv blames politics for outageUS military prepares 'mother of all bombs' option for possible Iran strikesSeven sailors missing after drones hit two tankers off RomaniaRussia launches record drone swarm as US energy ceasefire collapsesKenya confirms second Ebola case as Congo health workers strikeContainer ship sinks near Hormuz as UN warns of fertiliser shortfallKremlin says diesel exports restart as Germany rejects US asset planUS producer prices surge, feeding bets on Fed rate hikeG20 ministers flag yield and currency worries as Iran war keeps energy costlyFighters attack army base in Borno, killing soldiersAlbania's Rama rejects resignation as student protests turn violentIEA speeds up oil stock release beyond 400 million barrelsIstanbul flood death toll rises to three, four missingIsrael halts commercial goods into Gaza amid dispute over truck feesNorth Korea tests submarine-launched missiles as China bridge opensEU leaders clash over trillion-euro budget at Brussels summitIsraeli ad firm used online ads to help install spyware, researchers sayEight US states sue OpenAI as FTC subpoenas OpenAI and AnthropicFrench debt worries spill into stocks, driving biggest underperformance since 2010Smartphone shipments crash 22% in worst quarter everEU-Gulf summit and Saudi events postponed amid Houthi attacksPope Leo recovering after lung cancer surgeryIndonesian fires deepen regional haze as pressure grows on JakartaFrance and Germany agree car deal softening 2035 combustion banMaduro pleads not guilty to US torture conspiracy chargesBrazil abolishes six-day workweek as Bolsonaro gathers endorsements before run-offHezbollah says it owned explosives seized by Lebanese armyHamburg court jails two men over Iran-backed plots against Beck and SchusterHezbollah claims seized vehicle as Iran reportedly orders readinessVoter frustration and inflation weigh on Trump ahead of US midtermsFrench student protests continue as police union plans lawsuitIndia approves Fairfax's $5.6bn takeover of IDBI BankTrump administration seeks to strip Ilhan Omar of citizenship, reports sayRussian investigators search Novaya Gazeta editor's home and question Sergei SokolovTens of thousands march in Colombia's first national strike against De la EspriellaResearchers fear Z.ai's GLM-5.3 can fake AI safety testsTrump cancels livestream of Fort Hood shooter's executionRussia detains Swedish man over alleged sabotage plotSuspect in OpenAI bugging case allegedly booked one-way flight to Saudi ArabiaSwedish parliament rejects Andersson as prime minister amid government deadlockEthiopian forces expand control in Tigray as Eritrea denies troop movements
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Symbolic image: India approves Fairfax's $5.6bn takeover of IDBI BankSymbolic image

India approves Fairfax's $5.6bn takeover of IDBI Bank

3 sources

India has approved the purchase of nearly 61% of IDBI Bank by Canada's Fairfax Financial Holdings for $5.6bn, the biggest foreign takeover of a domestic bank, the Financial Times reports. The Hindu reports that IDBI shares fell 7.5% on Thursday, which Reuters attributes to profit booking.

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