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The United States on Thursday announced the approval of a $1.23 billion sale of up to 400 advanced air-to-air missiles and related equipment to NATO ally Germany."The proposed sale will improve Germany's capability to meet current and future threats by providing increased air-to-air capability for the German F-35 program and supporting German and shared NATO planning, training, and operational requirements," the US Defense Security Cooperation Agency (DSCA) said in a statement.It will also "support the foreign policy goals and national security objectives of the United States by improving the security of a NATO ally that is a force for political stability and economic progress in Europe," DSCA said.The State Department approved the possible sale of the missiles to Germany and DSCA provided the required notification to the US Congress, which still needs to sign off on the transaction.The US announcement came after German Chancellor Friedrich Merz vowed to take "all necessary measures to ensure effective deterrence against... violations of airspace and other attacks by the Russian military."Recent weeks have seen Russia send fighter jets and drones into the airspace of NATO members Poland and Romania, followed by suspicious drone flights near airports in Denmark and Norway.Merz's government has also blamed Moscow for multiple drone sightings over German military and industrial sites.

Mumbai: Maruti Suzuki India catapulted into the top league of the world's most valuable automakers, climbing to the eighth position globally by market capitalisation, showed data compiled by ETIG.The largest unit of Japan's Suzuki Motor has overtaken global heavyweights such as Ford Motor, General Motors and Volkswagen AG. Maruti Suzuki now commands a market cap of nearly $57.6 billion, surpassing even its Japanese parent.The stock has rallied 25.5% since August, fuelled by improved investor sentiment following the announcement of indirect tax reforms by Prime Minister Narendra Modi on Independence Day.India's largest carmaker, which derives more than 60% of its sales volume from small cars, has been one of the biggest beneficiaries of the revamped GST regime rolled out on September 22. 124138343Maruti's valuation has surged past Ford ($46.3 billion), General Motors ($57.1 billion) and Volkswagen ($55.7 billion), which have either stagnated or slipped in rankings over the past month. The company's market cap is also above that of Suzuki's $29 billion.Tesla continues to dominate the global auto space with a market cap of $1.47 trillion, followed by Toyota ($314 billion), BYD ($133 billion), Ferrari ($92.7 billion), BMW ($61.3 billion) and Mercedes-Benz Group ($59.8 billion). Maruti now sits just behind these global leaders at eighth rank, marking a rare instance of an Indian automaker featuring among the world's top 10.On bourses, Maruti's performance has far outstripped the Nifty Auto index, which has risen about 11% since mid-August. Over the same period, Maruti's shares surged from ₹12,936 apiece on August 14 to ₹16,236 on September 25, recording one of the steepest climbs among frontline auto counters. Brokerage data showed foreign portfolio investors have raised their exposure to Indian auto stocks in recent weeks, with Maruti being a key gainer. The company has also sustained its leadership in the domestic passenger car market, particularly in the compact and entry-level segments that form the bulk of its volumes. Industry trackers noted that the GST reset has particularly benefited small car makers, where Maruti has a dominant share. With cascading levies reduced and affordability improving, sales volumes have rebounded, reinforcing the company's earnings outlook.Maruti is clocking 15,000 bookings every day since the start of the new GST regime coinciding with the Navratri festival, a company executive said earlier this week, adding the company’s small cars are also in high demand. Maruti delivered 30,000 vehicles on Monday, the first day of Navratri. As global automakers contend with supply chain constraints, cost pressures, and the capital-intensive transition to electric mobility, Maruti’s rally highlights the momentum of India’s passenger vehicle market, now among the fastest-growing worldwide.

Even as banks tread cautiously on personal loan disbursements, non-bank lenders are rapidly capturing market share in the segment.According to data from credit bureau CRIF and brokerage house Nomura, NBFCs' share in new personal loan originations by value rose to 41% as of June 2025 from 27% two years earlier. In terms of volume, their share surged to 92%, driven largely by new-age fintech NBFCs that leverage technology to provide financial services, from 82% in June 2023.During this period, the share of both state-run and private sector banks in new personal loan originations by value fell to 28% each, compared with 34% earlier for both. In terms of volume, the share for banks fell to 4% from 10%. 124131057The personal loan market is now estimated at over ₹15 lakh crore. These loans are commonly used to cover expenses such as medical emergencies, weddings, vacations and home renovation."With the rise in funding costs for NBFCs, they have aggressively entered high-yielding segments like personal loans and consumer durables while banks have vacated the space due to worries over high credit costs," said Prakash Agarwal, partner at consulting firm Gefion Capital. "Banks are continuing to grow in the high-ticket personal loan space which is very niche, consolidating their market share."While banks offer lower interest rates to borrowers with strong credit profiles, NBFCs are more flexible in their lending criteria, making them a viable option for people who may not meet all the eligibility requirements.HDFC Bank offers personal loans with interest rates ranging from 10% to 24%, while ICICI Bank levies 10.60-16.50% and Axis Bank charges 10-21%. Some NBFCs offer starting rates that are on par with banks, making them competitive despite their higher upper limits. Among NBFCs, Bajaj Finance levies 10-31% and Tata Capital between 11.50% and 30%, while L&T Finance's rates start at 11%. In terms of asset quality, the personal loan portfolio at risk (PAR) between 31 and 90 days was 2.1% for NBFCs at the end of June 2025, marginally higher than 2% in June 2023. For private sector banks, the metric remained 1%, while for state-run banks, it inched up to 2.2% from 2.1%.By ticket size, PAR for loans below ₹1 lakh was 2.3% for the credit industry at the end of June 2025, improving from 2.7% two years earlier. For loans above ₹10 lakh, it was 1.5% compared with 1.6% in June 2023. "With banks cutting down on the lower-ticket-size segment, NBFCs are gaining market share driven by small-ticket-size personal loans," said JM Financial analyst Ajit Kumar. NBFCs are also gaining share in consumer durable loans, he said. Private banks' disbursements by value fell 28% from a year earlier as of end-June, while those of NBFCs rose 15%.