Profits burn down for Samsung India this quarter: The decision by Samsung to withdraw the fire-prone Note 7 from all markets is likely to result in a Rs. 420 crore hit for the company in India this quarter, and pave the way for Google and Apple to grab market share at the top end. Samsung had discontinued the Note 5 model to introduce Note 7, but may now re-introduce the older model to recoup whatever losses that are possible. 

ICICI Bank and Dubai's Emirates Bank are joining hands to use blockchain technology, in a first for both geos. The blockchain effort is likely to cut transaction costs and make international transactions near-real time. Savings for both banks is likely to be significant if the pilot is successful. Remittances from the Middle East to India are a big part of international transactions, and UAE, where Emirates Bank is based, is the highest contributor of remittances to India. 

Even as Toyota and Suzuki have announced a new partnership to expand market share in India, Renault India is set to recall its top selling entry-level Kwid model, with 50,000 cars sold between October and May potentially seeing problems with a faulty fuel system. 

A meeting of rivals?: In a vindictive move, after India compelled other SAARC members to pull out of a summit in Pakistan, Pakistan may be discussing a SAARC-like group in Asia that excludes India, according to a Pakistani newspaper. The report comes just as Dhaka prepares to host Chinese President Xi Jinping with the hopes of getting investments from China. India had earlier foiled an effort by Pakistan to get China added to SAARC.

Photo of the Day: Dussehra celebrations this year in some cases acknowledged India-Pak tensions, with effigies of Nawaz Sharif and Pakistan symbols burnt as demons. NYT/Getty