November 3, 05:24Aaj Tak

Airline ticket booking rules changed: airlines must specify full cost and fee conditions in advance

The government has introduced new provisions aimed at eliminating problems encountered by passengers when purchasing airline tickets. Often, the initial ticket price appears low, but after adding taxes, fees, and other payments, the total cost increases. Furthermore, passengers are often unclear about what percentage of funds will be retained and what amount will be refunded in case of flight cancellation. The new rules oblige airlines to provide a full report of all expenses at the booking stage.

These changes will come into force on January 1, 2027. The government officially notified the new rules on October 31, approving the Indian Aviation Rules 2026 (Bharatiya Vayuyan Niyam, 2026).

According to the new regulations, airlines are required to display not only the total ticket price but also a detailed breakdown of each fee on their websites or booking platforms. This means that during the ticket purchase, passengers will be able to see not only the final cost but also the exact amount charged for each specific expense item. Information about all these fees must also be included in the ticket issued after completing the booking.

The new rules make it mandatory for airlines to clearly present the following information: cancellation terms and refund policies. This allows passengers to understand the full cost of the ticket and all conditions related to trip cancellation before making a purchase.

An important provision has been introduced regarding airfares. It allows the central government to intervene in matters of airfares in the event of exceptional circumstances. The government may issue a written order with necessary instructions in the public interest. However, the rules do not specify which situations will be considered exceptional, meaning it is not defined under what circumstances the government will intervene in airline pricing.

Oversight of fares set by airlines will be carried out by the Directorate General of Civil Aviation (DGCA). The main focus of the new rules is ensuring complete transparency of information about fares and associated fees to passengers.

The Government of India prepared an Aviation Bill in 2024. This bill replaced the Aviation Act of 1934, which had been in use for about 90 years. After approval by parliament and sanction from the president, this bill gained the status of law, known as the Indian Aviation Rules 2026. The new rules will take effect on January 1, 2027, replacing the Aviation Rules of 1937.

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yourstory.comNovember 3, 08:34

PowerUp Money raises $10 million to expand AI-based wealth management

The wealthtech platform PowerUp Money, which provides mutual fund consultations and digital wealth management services, has successfully raised $10 million in a funding round. The early-stage investment firm Flourish Ventures led this round.

Existing investors, including Peak XV Partners, Accel, Blume Ventures, Kae Capital, 8i Ventures, and DeVC, also participated in the round. The Bengaluru-based company plans to use a significant portion of the capital raised to develop its artificial intelligence-based wealth management platform and expand its managed advisory business.

PowerUp claims that over 1.5 million users utilize its platform to track mutual fund portfolios worth over 2.5 lakh rupees. Its paid Elite subscription, which offers research-based mutual fund advice, reached 100,000 paying subscribers in less than a year.

The company recently introduced Elite Prime—an AI-powered digital wealth management advisory service designed to provide a more comprehensive financial planning experience. The service analyzes an investor's financial goals, risk appetite, and current assets to suggest asset allocation, Systematic Investment Plan (SIP) plans, lump-sum investments, portfolio rebalancing, and withdrawal strategies. Furthermore, it can identify portfolio gaps and recommend diversification into assets such as gold, silver, and international investments.

Company employees plan to implement an AI coach and personal assistant to help users understand recommendations and make informed decisions. Founder and CEO Pratik Jindal noted that 'AI allows for a much more comprehensive experience, similar to a wealth manager's experience, in a digital format,' making personalized guidance accessible to investors who cannot afford traditional wealth management services.

PowerUp is also aiming to scale Infinite, its managed advisory offering. This service combines financial planning, portfolio construction, multi-asset allocation, and continuous portfolio management with dedicated human advisors. According to the company, Infinite accumulated nearly 500 crore rupees in Assets Under Management (AUM) in approximately nine months after launch, despite a limited client base. Expanding access to this service for a larger number of investors is another priority thanks to the new funding.

This growth occurs against the backdrop of a steady increase in the Indian mutual fund market. According to the Association of Mutual Funds in India (AMFI), the industry's total assets reached 82.64 lakh rupees by the end of September 2026, significantly higher than the 15.8 lakh rupees recorded a decade ago. Monthly SIP contributions also reached 32,490 crore rupees in September, reflecting the growing adoption of regular long-term investing.

Investor interest has spurred further funding in the wealthtech sector. The debt investment platform Wint Wealth raised 250 crore rupees in a Series B round in January, and the wealth management firm Centricity secured 280 crore rupees in August. The AI-focused startup Novelty Wealth also announced a seed round of $1.4 million in March.

However, growth is accompanied by challenges. Digital advisory services must remain appropriate, transparent, and compliant with regulations as the platforms' client base expands. SEBI issued an updated Master Circular for investment advisors in February, strengthening the regulatory framework governing investment advice. Ravi Kaushik, Head of Asia at Flourish Ventures, noted that the opportunity lies in helping investors manage increasingly complex financial lives.

yourstory.comNovember 3, 08:28

India Becomes Significant Growth Market for Apple in Record September Quarter

India has demonstrated itself as a market with impressive growth for Apple in the fourth quarter of the 2026 fiscal year, achieving a historic revenue volume for the company in the country.

Apple CEO John Ternus stated that the company set revenue records in both developed and emerging markets, in addition to the record in India for the September quarter.

The growth in India was driven by a record iPhone upgrade rate in September, with Worldpanel survey data placing the iPhone among the best-selling smartphone models in the country. Furthermore, Mac sales also set a revenue record in India due to demand for the new MacBook Neo and MacBook Pro models.

During this quarter, Apple launched Apple Pay in India in partnership with Axis Bank, expanding the scope of digital payments into one of the world's largest consumer markets.

Apple CFO Kevin Parek noted optimism regarding the long-term future of the company's services business.

Turning to global figures, Apple generated total operating revenue of $114.48 billion for the quarter, an increase of 11.72% compared to $102.47 billion in the fourth quarter of the 2025 fiscal year. For the entire 2026 fiscal year, total revenue reached a historic high of $478.83 billion, which is 15.06% higher than $416.16 billion, and net income for the year amounted to $132.18 billion, an 18% year-over-year increase.

Quarterly revenue was divided into two main streams: product revenue of $82.90 billion (72.42% of the total) and services revenue of $31.57 billion (27.58% of the total).

In the product category, the iPhone brought in $57.58 billion (50.30% of total revenue), showing a year-over-year growth of 17.46% thanks to global upgrade records and demand for the iPhone 18 Pro and foldable iPhone Duo. Services reached a historic high of $31.57 billion, increasing by 9.82% year-over-year due to record revenues from cloud services, video, and payments, with paid subscriptions exceeding $1.5 billion.

Mac revenue grew by 23.68% year-over-year to $10.79 billion, driven by the active adoption of the MacBook Neo and increased market share globally. Conversely, the Wearables, Home, and Accessories segments decreased by 7.91% year-over-year to $8.30 billion amid challenging comparisons with the previous year, and iPad revenue fell by 10.40% year-over-year to $6.23 billion due to supply constraints.

Apple's earnings per share increased by 11.81% year-over-year to $30.71 billion compared to $27.47 billion in the fourth quarter of the 2025 fiscal year, aided by a tax refund benefit of $0.05 per share.

On an annual basis, EBITDA, reflecting operating cash flow, reached $171.49 billion, providing an EBITDA margin of 35.81% on $478.83 billion in revenue. Total operating expenses amounted to $59.66 billion, an increase of 10.22% year-over-year. Total operating expenses rose by 20.58% year-over-year to $19.19 billion.

Research and Development (R&D) became the largest cost center, totaling $11.73 billion (61.13% of total operating expenses), an increase of 32.30% year-over-year compared to $8.87 billion, as Apple accelerated investments in generative artificial intelligence (AI), such as Siri AI, and proprietary silicon.

Meanwhile, Apple's active installed base exceeded 2.5 billion devices, and quarterly operating cash flow was $28.10 billion, with company reserves reaching $137 billion.

However, rising memory prices created unprecedented pressure on profit margins, and supply constraints on advanced semiconductor chips limited device availability. Ternus explained that the current rise in memory prices is unprecedented, and although the September quarter saw a higher increase in memory costs compared to the June quarter, this was partially offset by the benefit of inventory and lower costs for some non-memory components.

Supply chains also hindered shipments. Sabih Khan, Apple's Chief Operating Officer, clarified that the constraints in the fourth quarter were mainly related to the availability of advanced nodes where their SoCs are manufactured, but as the company transitions more of its lineup to the latest 2nm generation technology nodes, advanced node constraints are easing.

technode.comNovember 3, 08:14

Apple's revenue in Greater China grew by 21% but fell short of forecasts

Apple reported that revenue in the Greater China region for the fourth fiscal quarter was $17.54 billion. This figure showed a 21% increase compared to the same period last year, but it was lower than market expectations of $18.75 billion. Meanwhile, revenue in this region decreased by 6.8% relative to the previous quarter.

The results, published after the close of American markets on November 2, showed an overall quarterly revenue growth of 12% for the company, reaching $114.48 billion. Earnings per share increased by 14% to $2.10, and both these figures exceeded analyst forecasts.

The Greater China figures contrasted with the results from America and Europe, where revenue surpassed forecasts. These regional data come as Apple prepares to begin testing Apple Intelligence, integrated with Alibaba's Qwen, in mainland China on November 4.