NewsBytes

The investigation into the Air India plane crash that killed more than 240 people is focusing on the engine, flaps and landing gear, a source said, as the aviation regulator ordered safety checks on the airline's entire Boeing-787 fleet. The Boeing 787-8 Dreamliner with 242 people on board bound for Gatwick Airport south of London began losing height moments after take-off over a residential area of the western city of Ahmedabad and erupted in a huge fireball as it hit buildings below, CCTV footage showed. On Friday, a source with direct knowledge of the matter told Reuters that Air India and the Indian government were looking at several aspects of the crash including issues linked to its engine thrust, flaps, and why the landing gear remained open as the plane took off and then came down within moments. The probe is also looking at whether Air India was at fault, including on maintenance issues, the source said.

Airlines steered clear of much of the Middle East after Israeli attacks on Iranian sites forced carriers to cancel or divert thousands of flights in the latest upheaval to travel in the region. Proliferating conflict zones around the world are becoming an increasing burden on airline operations and profitability, and more of a safety concern. Detours add to airlines' fuel costs and lengthen journey times. Israel on Friday said it targeted Iran's nuclear facilities, ballistic missile factories and military commanders at the start of what it warned would be a prolonged operation to prevent Tehran from building an atomic weapon. Tel Aviv's Ben Gurion Airport was closed and Israel's air defence units stood on high alert for possible retaliatory strikes from Iran.

Oil prices are leaping, and stocks are weakening on worries that Israel's attack on Iranian nuclear and military targets could escalate further and damage the flow of crude around the world, along with the global economy. The S&P 500 was down 0.7% in early trading. The Dow Jones Industrial Average was down 508 points, or 1.2%, as of 9:35 am Eastern time, and the Nasdaq composite was 0.8% lower. The strongest action was in the oil market, where the price of a barrel of benchmark US crude jumped 7.1% to $72.88. Brent crude, the international standard, rose 7.2% to $74.32 for a barrel. Iran is one of the world's major producers of oil, though sanctions by Western countries have limited its sales. If a wider war erupts, it could slow the flow of Iran's oil to its customers and keep the price of crude and gasoline higher for everyone worldwide.

Bengaluru climbed seven spots to be placed as number 14 in the Global Startup Ecosystem Report 2025, prepared by Startup Genome, a global innovation ecosystem development organisation. Silicon Valley tops the list, followed by New York City, London and Tel Aviv. Boston and Beijing are tied for fifth place. "Bengaluru recorded strong growth, climbing seven spots to rank #14 in the Global Startup Ecosystem Ranking 2025, driven by four major exits exceeding USD1 billion in 2024, with Swiggy.com leading at a USD12 billion valuation," stated the report. Priyank Kharge, Karnataka's Minister of IT & BT and Science & Technology, said in a statement issued by his office on Friday, that the 2025 edition of the report highlights a significant power shift in global innovation, with rising Asian and mid-sized hubs making strong gains.