More than two million tonnes of freight and mail passed through Belgian airports during the year, placing the country behind only Germany and France among the EU’s 27 member states. The performance was led by Liège Airport, one of Europe’s biggest dedicated cargo centres, and Brussels Airport, which combines freighter operations with goods carried in passenger aircraft.

The rise is notable because Belgium is smaller than many of the countries it overtook. Its position reflects the concentration of airports, motorways, ports, rail links, distribution warehouses and consumer markets within a compact geographical area at the centre of western Europe.

Liège Airport handled 1.325 million tonnes of cargo in 2025, up 14% from 1.163 million tonnes a year earlier. It recorded the strongest growth among Europe’s 10 largest cargo airports and delivered the second-highest annual volume in its history.

Cargo traffic at Liège has more than doubled over the past decade. The airport has built its business around full-freighter aircraft rather than passenger services, allowing it to operate schedules designed specifically for logistics companies.

Its freight portfolio includes perishable goods, medicines, medical equipment, humanitarian supplies, express consignments, online shopping parcels and live animals. The airport also added links to cities including Bogotá, São Paulo, Mexico City, Chicago, Oakland, Toronto, Nanjing, Chongqing, Mumbai and Taipei during 2025.

Liège had 56 airline customers at the end of the year, compared with 40 in 2023. The number of logistics operators increased from 37 to 62 over the same period, reducing the airport’s dependence on individual companies.

Its largest customer represented 13% of total cargo volume, while the next three accounted for 10%, 9% and 9%. Airport managers regard that distribution as an important safeguard against abrupt changes in airline strategy or international trade flows.

Cargo aircraft movements at Liège rose 6% to 28,822, while total aircraft movements remained broadly stable at 36,979. Daytime cargo flights accounted for 65.5% of operations, reflecting a gradual shift away from night services, which formed the majority of traffic five years earlier.

Brussels Airport handled 795,000 tonnes of cargo, an increase of 8.5%. Cargo flights rose by only 2.2%, indicating that operators transported more goods without a corresponding surge in aircraft movements.

A significant proportion of the Brussels total travelled in the holds of passenger aircraft. This belly cargo, particularly important on long-haul routes, increased by 9.2%. Express and urgent shipments grew by 22.3%, highlighting demand for rapid delivery networks and high-value logistics.

Belgium’s total commercial flight count, covering passenger and freight operations, rose 3.4% to 296,756 in 2025. That remained below the approximately 325,000 flights recorded in 2019, although freight volumes have expanded strongly as airlines use larger aircraft, improve load factors and concentrate cargo at specialised hubs.

The country’s air freight industry benefits from proximity to the ports of Antwerp-Bruges and Rotterdam, as well as major manufacturing and consumer regions in Germany, France and the Netherlands. Goods arriving by aircraft can be transferred rapidly to road, rail and maritime networks.

Pharmaceutical logistics have become an especially important segment. Belgium hosts a large life-sciences industry and has developed temperature-controlled infrastructure for vaccines, medicines and other sensitive products. Brussels Airport has positioned pharmaceutical handling as a core speciality, while Liège has expanded facilities for healthcare and humanitarian cargo.

E-commerce remains another major driver. Online retail shipments from Asia and other production centres have generated large parcel volumes, although tighter customs enforcement and planned changes to EU rules for low-value imports could alter cargo patterns.

European regulators are seeking greater scrutiny of small parcels because of concerns about product safety, counterfeit goods, undeclared values and the pressure placed on customs systems. Any reduction in direct-to-consumer shipments could affect airports heavily exposed to e-commerce, while creating opportunities for operators handling consolidated and fully documented cargo.

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The vote on Thursday did not approve unrestricted monitoring of private messages, as some social media posts claimed. Parliament backed a modified framework that permits companies to scan certain communications voluntarily but excludes encrypted services such as WhatsApp, Signal and Telegram from the proposed extension.

The decision marks the latest turn in a prolonged dispute over how the European Union should combat child sexual abuse online without establishing a system of mass surveillance. Supporters say automated detection tools help platforms identify illegal images, grooming and other abusive activity. Opponents warn that scanning private communications could undermine confidentiality, produce false accusations and weaken cybersecurity.

The legislation is commonly described by critics as “Chat Control”, although the term covers several related proposals and has sometimes blurred the distinction between temporary voluntary arrangements and a separate permanent regulation still under negotiation.

Under the text approved by Parliament, online service providers would receive a renewed legal exemption from parts of the EU’s electronic privacy rules. The exemption would allow them to use detection technologies to identify and report suspected child sexual abuse material on services that are not protected by end-to-end encryption.

Encrypted communications were specifically carved out following pressure from privacy campaigners and lawmakers who argued that analysing such messages would require weakening the security architecture protecting all users. End-to-end encryption ensures that only the sender and recipient can read a message, preventing platforms, governments and criminals from accessing its contents.

The amendment protecting encrypted services secured an absolute majority. However, lawmakers also approved the continued use of voluntary scanning on other services, drawing criticism from civil liberties advocates who maintain that users can still be subjected to broad and indiscriminate monitoring.

The rules have not yet completed the legislative process. EU member states must decide within three months whether to accept Parliament’s changes. Negotiations may follow if national governments seek a different approach, meaning the measure cannot immediately take effect across the bloc.

Temporary rules allowing voluntary detection were introduced in 2021 as a derogation from the EU’s ePrivacy framework. They were designed to remain in place while institutions developed permanent legislation covering prevention, reporting, removal and investigation of online child sexual abuse.

The arrangement expired on April 3 after Parliament rejected an earlier extension in March. That decision created a legal gap for technology companies that had used automated tools to identify suspected abuse in private communications. Major platforms and child protection organisations warned that the lapse would reduce reporting and make it harder to identify victims.

Privacy groups welcomed the expiry, arguing that voluntary detection systems had operated without sufficient transparency, judicial oversight or safeguards against mistakes. They also questioned whether scanning could be considered genuinely voluntary when companies face regulatory pressure to detect harmful material.

The European Commission first proposed a permanent child sexual abuse regulation in 2022. The original plan included detection orders that could compel platforms to search for known and unknown abuse material and identify grooming. Its potential application to encrypted messaging triggered sustained opposition from cybersecurity experts, privacy advocates and several lawmakers.

Parliament later adopted a position aimed at restricting detection orders, protecting encryption and limiting monitoring to targeted cases. EU governments have struggled to agree on a common approach, with member states divided over whether effective detection can be achieved without examining encrypted content.

Child protection campaigners argue that offenders increasingly use private messaging, disappearing content and encrypted platforms to distribute abuse material and contact children. They say voluntary action by technology companies has generated millions of reports and helped investigators identify victims across borders.

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The state-owned telecom company said the device can provide voice calls and text messaging in isolated regions, including mountainous terrain, forests, offshore locations, mining zones and areas affected by natural disasters. The quoted handset price includes taxes, while customers must separately subscribe to an approved Global Satellite Phone Service plan.

The phone is being positioned primarily for defence units, maritime operators, emergency agencies, mining companies, remote infrastructure teams and adventure travellers. Unlike ordinary mobile phones, it communicates directly with a satellite rather than depending on nearby ground towers, allowing connectivity across large areas where terrestrial coverage is unavailable or unreliable.

BSNL’s announcement represents an expansion of an established service rather than the introduction of satellite calling for the first time. The company has offered voice and SMS connectivity through its Global Satellite Phone Service to the public and private enterprises since January 1, 2018.

The renewed commercial push comes as satellite communication assumes greater importance in disaster management and strategic operations. Cyclones, floods, earthquakes and landslides can damage mobile towers, sever fibre links and disrupt electricity supplies. Satellite phones provide an alternative channel for coordinating rescue teams, sharing field information and maintaining contact with command centres.

The service can also support personnel stationed along remote borders and crews operating far offshore. Mining, energy and construction businesses may use the handset at project sites where installing mobile towers or fibre infrastructure is technically difficult or commercially unviable.

BSNL offers separate plans for government and commercial customers. Post-paid monthly charges begin at ₹3,500 for government users, with 16 minutes of voice usage or an equivalent number of SMS messages included. Another government plan costs ₹5,835 a month and includes 30 minutes or messages.

The commercial post-paid package costs ₹11,670 a month and provides 60 minutes of calls or SMS messages. Once the included allowance is exhausted, government users pay ₹18 per minute or message, while commercial subscribers pay ₹25. Taxes are charged separately on the service plans.

Pre-paid options are also available. Government customers can choose a ₹3,500 monthly package carrying 20 minutes or messages, or an annual plan costing ₹38,500 with an allowance of 240 minutes or SMS messages. Commercial packages cost ₹5,835 a month for 30 minutes or messages and ₹64,185 a year for 360.

Additional pre-paid top-ups are available in denominations ranging from ₹200 to ₹10,000. The pricing underlines the specialised nature of the service and is likely to limit widespread consumer adoption, particularly when compared with conventional mobile connections and emerging satellite messaging features on premium smartphones.

Satellite phone ownership and use remain subject to strict security requirements. Subscribers must undergo the prescribed customer verification process and disclose where the handset will be used, the period of intended operation and the purpose for which it is required. These conditions are designed to maintain traceability because satellite devices can function independently of domestic terrestrial networks.

The communication transmitted through the Global Satellite Phone Service is encrypted. However, the service currently supports only voice calls and SMS, not high-speed internet access or the broader applications available on modern smartphones.

Customers have been advised to approach the nearest BSNL office for purchasing and activation details. Availability may depend on documentation, regulatory clearance, service eligibility and the user’s stated operational needs. The company has not announced a mass-market retail network or consumer financing options for the handset.

The move is distinct from direct-to-device satellite technology, which seeks to connect ordinary mobile handsets to satellites without requiring a dedicated satellite phone. BSNL has also worked with US-based Viasat on trials of direct satellite connectivity, including messaging and emergency communication applications.

Competition is developing in the broader satellite communications market as global and domestic companies prepare broadband services for homes, enterprises and remote locations. Starlink, Eutelsat OneWeb, Jio Satellite Communications and other operators have pursued regulatory approvals and spectrum access, although satellite broadband requires different equipment, licensing and commercial models from BSNL’s voice-focused service.

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By K Raveendran

The Narendra Modi government’s position on fuel prices now looks less like prudent caution and more like an overly defensive reading of a market that has already absorbed much of the Iran-US risk. The more calibrated question, therefore, is not whether New Delhi is right to watch the West Asian security situation, but whether a two-month wait before reassessing retail fuel prices is justified when crude has failed to sustain a meaningful geopolitical premium.

The government’s argument rests on a familiar premise: oil markets can turn quickly, and India, as one of the world’s largest crude importers, cannot base domestic pricing decisions on a few days of calmer trading. That caution is not without logic. The Gulf remains central to global energy flows, the Strait of Hormuz remains a pressure point, and any direct threat to tankers, export terminals or insurance costs can change the arithmetic for Indian refiners almost overnight. A single disruption that affects physical supply, rather than merely raising political noise, can force importers to pay more, scramble for alternative cargoes and deal with a weaker rupee at the same time.

But this is only one side of the current market. The other side is more striking: crude has not behaved like a market preparing for a sustained war premium. Prices have moved after flare-ups, but the moves have been contained. Traders have treated isolated missile attacks and ceasefire violations as risks to be priced temporarily, not as evidence of a lasting supply shock. The market’s message is that violence without sustained disruption is no longer enough to lift crude decisively. Brent hovering in the low-to-mid $70 range, after having fallen sharply from earlier panic levels, suggests that participants are looking past sporadic skirmishes and focusing instead on supply, inventories and demand.

That is why the government’s caution now appears heavier than the market’s own assessment. If the oil market itself is refusing to climb on every provocation, it is difficult to argue that domestic consumers must continue paying as though the threat premium remains fully alive. The crude market is not risk-free, but neither is it signalling a crisis. It is, rather, signalling a wary normalisation: traders are alert to West Asian headlines, but not persuaded that every violation of a fragile understanding between Iran and the United States will interrupt barrels reaching global buyers.

The bigger force weighing on prices is the prospect of excess supply. Rising output expectations, restored flows, weaker demand signals and producer efforts to defend market share have shifted attention from shortage to surplus. This matters greatly for India. A market facing possible glut conditions is structurally different from one facing shortage. In a shortage market, governments and oil companies can defend price rigidity by citing replacement costs and uncertainty. In a surplus market, the same argument becomes thinner, especially when refiners benefit from cheaper crude while retail consumers see no proportionate relief.

Indian consumers are familiar with this asymmetry. Retail fuel prices rise quickly when crude becomes expensive, but reductions tend to arrive slowly, selectively and often after political calculation. Oil companies cite inventory costs, past under-recoveries, refining margins, currency fluctuations, taxes, freight, product cracks and working-capital pressures. Some of those factors are real. Petrol and diesel prices are not determined by crude alone. Refiners buy different grades at different times, product prices do not always move in line with crude, and a weaker rupee can offset part of the global price fall. Yet these explanations become less convincing when the direction of the market is clearly softer and the consumer is still asked to wait.

The two-month window is especially problematic. For the government, two months may seem a reasonable monitoring period in a volatile geopolitical setting. For households, transporters, farmers and small businesses, it is a long period of additional spending. Fuel prices feed directly into commuting costs, freight rates, agricultural operations and the price of goods moved across long distances. Even when retail inflation is contained, high fuel prices act as a hidden tax on consumption. They also reduce the visible benefit of lower global crude at a time when the economy could use broader cost relief.

The political economy of fuel pricing complicates the issue further. Petrol and diesel are not merely energy products; they are revenue instruments. Central and state levies make up a large part of the pump price, and governments have often relied on fuel taxation as a stable source of revenue. That fiscal dependence gives every administration an incentive to delay cuts unless public pressure becomes acute or elections create an immediate reason to act. Oil marketing companies, too, prefer to rebuild margins when crude softens, particularly after periods of price freezes or squeezed profitability. The result is a pricing system that is market-linked in theory but politically managed in practice.

This is where the government’s caution risks becoming indistinguishable from convenience. A genuine wait-and-watch approach would be more credible if it were accompanied by a transparent formula: for example, a commitment that if crude remains below a defined threshold for a specified number of trading sessions, retail prices will be reviewed. Instead, consumers are told that the situation will be watched, while the benchmark that would trigger relief remains unclear. That opacity strengthens the suspicion that uncertainty is being used as a buffer against passing on gains.

A more balanced policy would recognise both risks. There is room for a calibrated reduction, especially if crude remains around current levels and the rupee does not suffer a major slide. A modest cut would signal that consumers are not excluded from the benefits of lower import costs, while still leaving room for future adjustment if the geopolitical premium returns.

Such a move would also align domestic policy more closely with market reality. The market is not saying that the Iran-US deal has eliminated all risk. It is saying that the probability of a sustained supply shock has declined enough to remove a large part of the fear premium. That is a meaningful distinction. Governments should be more cautious than traders because they must plan for national energy security, not just daily price movements. But caution should not become inertia, especially when the cost is borne by consumers who have already endured long stretches of elevated pump prices.

The more defensible reading is that the Modi government is right to remain alert but wrong to postpone the consumer question for two full months. Oil prices are not collapsing, but conditions are favourable enough for a lower retail adjustment. The market has taken ceasefire violations in its stride, supply concerns have eased, and the emerging worry is oversupply rather than scarcity. If that balance holds, continued delay will look less like responsible risk management and more like a refusal to share the dividend of cheaper crude with the public. (IPA Service)

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The agreement covers 100 per cent of Shell Downstream South Africa from Shell South Africa Holdings, with the enterprise value subject to adjustments for net debt and working capital. The business includes 580 company-owned and dealer-owned fuel stations, wholesale fuel supply, aviation fuels, marine fuels and lubricants operations. The transaction is expected to close in 2027, pending regulatory approvals and other conditions.

The deal will not immediately remove the Shell name from forecourts. ADNOC Distribution plans to enter a long-term brand licensing arrangement after completion, allowing Shell-branded service stations and lubricants to continue operating in South Africa under the new ownership structure. The move is designed to preserve customer familiarity while shifting control of the business to ADNOC Distribution.

Shell Downstream South Africa sold about 3.5 billion litres of fuel in 2025 and operated 360 convenience stores. The network is considered the third-largest fuel retail platform in South Africa by number of service stations, giving ADNOC Distribution a substantial operating base in a market where regulated margins, established road transport demand and a large motoring population support steady cash generation.

ADNOC Distribution expects the acquisition to increase earnings per share by 6 per cent in the first full year after completion. The company also expects returns to exceed its internal hurdle rate for fuel and convenience retail investments. The transaction adds scale to its international business, which already includes service stations in Saudi Arabia and Egypt, alongside its core network in the UAE.

Eng Bader Saeed Al Lamki, chief executive of ADNOC Distribution, described the transaction as a significant milestone in the company’s international growth strategy and said South Africa offered a “high-potential, well-regulated fuel retail sector”. He said Shell Downstream South Africa had deep roots in the local economy and would help ADNOC Distribution diversify its platform and create long-term value.

ADNOC Distribution plans to sell a 28 per cent stake in the acquired business after completion to a local empowerment partner and an employee stock option plan. The structure is intended to align the ownership of the business with South Africa’s Broad-Based Black Economic Empowerment framework, which remains a central requirement for major transactions in sectors with high consumer and infrastructure exposure.

The deal ends a long chapter for Shell’s downstream presence in South Africa, where the group has operated for more than a century. Shell began a review of its South African downstream business in 2024 as part of a wider effort to reshape its global portfolio and focus capital on higher-return activities. The group has been reducing exposure to parts of its retail and refining footprint while retaining brand value through licensing models in selected markets.

South Africa’s fuel sector has been undergoing significant change as refining capacity has tightened and the country has become more dependent on imported refined products. The Sapref refinery, historically linked to Shell and BP and once the country’s largest refinery, has been idle since 2022. Other refinery closures and disruptions have increased the importance of reliable distribution networks, storage capacity and wholesale fuel logistics.

For ADNOC Distribution, the acquisition strengthens its ambition to become a global mobility and convenience retailer rather than a domestic fuel station operator. As of March 2026, the company operated 1,032 service stations, including 568 in the UAE, 219 in Saudi Arabia and 245 in Egypt. It also operated 386 ADNOC Oasis convenience stores, 37 vehicle inspection centres and 400 electric vehicle charging points under its E2GO brand in the UAE.

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Mikel Merino scored in the 91st minute to settle a tight Round of 16 tie at AT&T Stadium, sending Spain through and ending Portugal’s campaign after a match shaped more by control, discipline and defensive concentration than attacking fluency. The result extended goalkeeper Unai Simón’s World Cup shutout sequence to 609 minutes, surpassing the 517-minute mark set by Italy’s Walter Zenga in 1990.

Spain’s record run links the closing stages of the 2022 tournament with their 2026 campaign. The sequence began with the goalless draw against Morocco in Qatar, when Spain were eliminated on penalties, and continued this year through a scoreless opener against Cape Verde, group-stage victories over Saudi Arabia and Uruguay, a 3-0 Round of 32 win against Austria and the narrow victory over Portugal.

The achievement gives Spain a defensive distinction unmatched in World Cup history. Italy in 1990 and Switzerland across the 2006 and 2010 editions had each produced five consecutive clean sheets, but Spain’s latest shutout moved them clear. The landmark is notable because the current side are more often associated with possession, midfield rhythm and positional play than low-block defending.

Portugal pressed for long spells without creating enough clear chances. Cristiano Ronaldo forced Simón into two first-half saves, the second after João Félix’s header deflected into his path. Simón adjusted quickly, diving back to gather the effort with both hands. Austria had failed to register a shot on target against Spain in the previous round, but Portugal carried greater individual threat and still found no route through.

Spain’s defensive record has not been built solely on the goalkeeper. Centre-backs, full-backs and midfield screeners have operated with compact spacing, limiting opponents’ access to central areas and forcing attacks wide. The team’s first line of pressure has also reduced the number of direct runs at the back four, making Spain less vulnerable in transition than in some previous tournaments.

Merino’s decisive goal underlined another strength of Luis de la Fuente’s side: impact from the bench. The midfielder arrived late in the box after Spain stretched Portugal across the pitch, finishing a move involving substitutes who added energy after a cagey second half. De la Fuente has repeatedly stressed the value of squad depth, noting after the match that players introduced late have made “enormous” contributions across the campaign.

Portugal’s exit intensifies questions over the future of Ronaldo, who has continued to carry major symbolic weight for his national side. At 41, he remains a focal point, but Spain restricted his touches in dangerous areas and left Portugal reliant on crosses, set pieces and isolated moments. The defeat was a sharp contrast with Portugal’s attacking pedigree, given the squad’s depth in midfield and wide positions.

Spain now move into the last eight with one of the most efficient records of the tournament. Their goals tally has not matched some of the more expansive contenders, but their control of games has been consistent. France, Argentina, England, Morocco, Belgium, Norway and Switzerland have also advanced, creating a quarter-final field in which defensive structure has become as important as attacking star power.

The 2026 World Cup’s expanded 48-team format has added a Round of 32, increasing the physical and tactical demands on leading contenders. Spain have used that longer route to strengthen rather than expose their credentials. Their clean-sheet run through different match types — group-stage control, knockout management and late-game pressure — has made them one of the most balanced teams still standing.

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The 37-storey building at 235 East 42nd Street, formerly part of Pfizer’s global headquarters, was declared unstable after workers reported structural distress on Tuesday morning. By evening, engineers had entered the affected area, installed jacks and started placing temporary steel supports designed to redistribute the load around the damaged section.

The alarm began shortly before 8am when the New York Fire Department received a 911 call reporting bricks falling from upper floors. Fire and emergency medical units reached the site quickly, assessed the building and ordered evacuations at the construction site and surrounding properties. No injuries were reported, and all construction workers were accounted for.

City officials said two structural columns had buckled around the 21st and 22nd floors, with cracks and sagging affecting several levels above. The immediate concern was not a full collapse of the tower onto surrounding streets, but a localised failure inside the steel-frame structure that could endanger workers, nearby occupants and pedestrians if the compromised section shifted further.

A frozen zone was imposed from 40th to 45th Streets between First and Third Avenues, cutting off pedestrian and vehicle access across a busy part of Midtown East. The disruption affected nearby residential buildings, a hotel, offices and a school running a summer programme for about 400 children. Some evacuation orders were later narrowed after monitoring showed the building had stopped moving for several hours.

Department of Buildings Commissioner Ahmed Tigani said engineers were focusing on emergency shoring, further inspection and a safety plan for the next phase of work. Monitoring positions were set up both outside and inside the building to detect movement. Officials said a third-party engineer had also been brought in to review the stabilisation effort.

Fire Commissioner Lillian Bonsignore said more than 150 fire and emergency personnel and over 50 units were deployed during the response. FDNY drones were used to inspect parts of the tower that were too dangerous for crews to enter during the first hours of the emergency. Fire Chief John Esposito said steel beams had begun bending under weight, making the building unsafe until additional supports could be installed.

The tower is part of a large conversion project covering 219 and 235 East 42nd Street, a pair of former office buildings being redeveloped into more than 1,600 apartments. The scheme, led by Metro Loft Management and David Werner Real Estate Investments, has been described as one of the largest office-to-housing conversions in New York City. Gensler is attached to the project as architect.

The redevelopment involves converting office space into residential units and adding floors to part of the complex. Officials said the project had undergone extensive plan review, but the cause of the buckling remained under investigation. Structural engineers are expected to examine whether construction sequencing, load distribution, temporary supports, materials, design assumptions or site practices contributed to the failure.

The incident has drawn attention to the technical risks facing large adaptive-reuse projects as New York pushes office conversions to address housing shortages and weak demand for older commercial space. Midtown and Lower Manhattan contain millions of square feet of ageing office stock that developers have been seeking to transform into apartments, helped by policy changes and tax incentives aimed at increasing housing supply.

Office-to-residential conversions can be complex because commercial buildings often have deep floor plates, different plumbing and ventilation requirements, heavy mechanical systems and structural designs not originally intended for residential layouts. Adding floors or reconfiguring façades can place new demands on older frames, requiring careful load analysis, staged demolition, temporary bracing and continuous monitoring.

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The facility, announced on 7 July, is one of DXC’s largest global delivery hubs and brings together customer collaboration areas, an AI Hub, cybersecurity facilities, forensics labs, a Security Operations Centre and a Network Operations Centre. The centre is designed to help clients identify high-value AI use cases, test prototypes, integrate them with legacy platforms and operate them at scale.

The move comes as large companies are under pressure to modernise complex technology estates without disrupting core systems that run banking, insurance, manufacturing, public sector services, travel and healthcare operations. For global IT services firms, the most valuable opportunity now lies not only in building new AI tools, but in attaching them safely to ageing systems of record, cloud platforms, data pipelines and cybersecurity controls.

DXC said the Bengaluru site includes immersive Customer Experience Zones, Fluid Collaboration Hubs, Ideation Studios, Co-Creation Labs and Partner Experience Zones. The structure signals a shift in IT outsourcing from back-office delivery to co-engineering, where clients, consultants and technology partners work together on proof-of-value projects before wider deployment.

Ramnath Venkataraman, president of consulting and engineering services at DXC Technology, said the centre would bring engineering talent closer to customers and partners. He said the objective was to “co-create, engineer, and scale AI-powered solutions” that address complex business challenges and move clients faster from ideas to outcomes.

Rob Le Busque, DXC’s president for Asia Pacific and Japan, described the centre as a base for AI innovation, engineering and customer collaboration. He said DXC was aiming to help customers build connected enterprises where people work alongside AI agents to engineer and run systems of record.

The investment reflects Bengaluru’s continuing pull as a global technology hub. The city hosts a dense base of engineering talent, multinational technology development centres, enterprise software teams and start-up ecosystems. DXC already employs about 38,000 people in the country, making the new facility a strategic addition rather than a symbolic office expansion.

For DXC, the centre also arrives at a critical phase in its own turnaround. The company reported revenue of $12.64bn for fiscal 2026, down 1.8 per cent year on year, while adjusted EBIT stood at $970m. Fourth-quarter revenue was $3.13bn, down 1.2 per cent year on year, though bookings reached $3.3bn and the book-to-bill ratio stood at 1.07 times. Those figures underline both the pressure on legacy IT services revenue and the importance of higher-value modernisation work.

The enterprise AI market has moved beyond experimental chatbots and isolated productivity pilots. Large organisations are now seeking systems that can automate service operations, assist software engineering, improve fraud detection, support call-centre workflows, optimise supply chains and strengthen cyber response. The challenge is that many of these functions depend on decades-old enterprise platforms, heavily customised databases and compliance-heavy workflows.

That is where Bengaluru’s new DXC centre is positioned. Its AI Hub is intended to support hands-on development and testing, while the cyber and operations facilities allow clients to evaluate whether AI tools can be monitored, secured and maintained after deployment. This full-lifecycle approach is becoming central to enterprise modernisation, especially in sectors where downtime, data leakage or flawed automation can carry heavy financial and regulatory consequences.

The facility also strengthens DXC’s partner-led model. Its Partner Experience Zones are expected to support work with software, cloud, cybersecurity and platform companies. For IT services providers, alliances with hyperscalers and enterprise software vendors have become essential as clients seek hybrid solutions rather than single-vendor transformation programmes.

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The Public Prosecution Service suspects the company of multiple criminal offences, including deliberately and unlawfully releasing harmful substances into the air with possible adverse consequences for public health. The case also covers alleged breaches of the company’s duty of care, insufficient maintenance, operating without the required permits and failure to report several incidents involving raw coke, a by-product linked to the steelmaking process.

A first procedural hearing has been scheduled for 20 November 2026 at the Amsterdam District Court, where prosecutors are expected to set out the precise charges. The investigation began after a criminal complaint filed on behalf of more than 800 residents and campaigners, who have for years linked emissions from the IJmuiden complex to health risks, nuisance and damage to quality of life.

The steelworks, located west of Amsterdam in Velsen, is among the Netherlands’ biggest industrial sites and one of its largest greenhouse gas emitters. Its blast furnaces, coke ovens and associated facilities have made it a strategic employer and export asset, but also a central target for environmental enforcement. Local concern intensified after pollution incidents, odour complaints and measurements showing deposits of metals and polycyclic aromatic hydrocarbons in nearby communities.

Prosecutors say the criminal investigation examined the steel production process and the operation of Tata Steel’s coke gas factories. The inquiry was carried out with input from environmental inspection and police units, including the investigative arm of the Human Environment and Transport Inspectorate and regional environmental enforcement agencies.

The company has rejected the accusations, saying it disagrees with the decision to prosecute and has already made major improvements to reduce emissions. Tata Steel Nederland has described the case as unnecessary, arguing that it relates to a limited number of incidents where corrective action had already been taken. The company maintains that its emissions comply with legal limits and that planned investments will cut pollution further.

The prosecution has not ruled out possible action against individuals. A separate part of the investigation is examining whether people in management roles could be held personally criminally liable. Prosecutors said that part of the inquiry may take more time, while the company summons has been issued now to keep the criminal case moving.

The summons comes against a broader legal and regulatory backdrop. Residents living near the plant and environmental groups have pursued civil and criminal routes to force faster reductions in pollution. A collective claim filed in the Netherlands seeks about €1.4 billion in compensation from Tata Steel’s Dutch subsidiaries, alleging health damage, stress, loss of enjoyment of life and property-related losses across the region. Tata Steel has dismissed those claims as speculative and unsupported.

Regulatory pressure has also mounted over the coke ovens, one of the most contentious parts of the IJmuiden operation. Authorities have previously warned that permits could be at risk if breaches continue, and financial penalties have been imposed over emissions violations. The coke-making process is crucial to conventional blast-furnace steel production, but it is also associated with pollutants that have drawn sustained scrutiny from residents and health experts.

Public health studies commissioned by Dutch authorities have strengthened demands for action. Research has identified the Tata Steel site as a significant source of metals and polycyclic aromatic hydrocarbons in the IJmond area, while health assessments have pointed to higher exposure risks for communities around the plant. Campaigners argue that enforcement has been too slow, given the scale of the plant and the duration of residents’ complaints.

Tata Steel is attempting to balance the legal fight with negotiations over a cleaner production model. The company, the Dutch government and the province of North Holland signed a non-binding framework in 2025 aimed at cutting carbon emissions and improving the living environment around IJmuiden. The plan includes a shift towards lower-carbon steelmaking, with public support of up to €2 billion under discussion and additional funding sought from European programmes.

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Footage circulating from the Volga region showed flames and smoke rising from the refinery area after explosions were reported around 3am local time. Saratov regional governor Roman Busargin acknowledged a drone threat and said warning systems could be activated in areas at risk, but Russian authorities did not immediately confirm damage to the plant. The scale of the fire, the status of production units and any casualties remained unclear.

The Saratov refinery, operated by Rosneft, is one of the older oil-processing sites in the Volga region and has an annual capacity of about 7 million tonnes. Its location gives it value in Russia’s internal fuel logistics, linking crude processing, storage and distribution across a region that feeds civilian markets as well as military supply chains.

The strike came as Ukrainian forces also hit Russian fuel tankers supplying occupied Crimea, widening the battlefield from fixed refinery assets to maritime logistics. Drone units struck multiple vessels in the Sea of Azov over a two-day period, with Kyiv saying the tankers were part of Russia’s “shadow fleet” and were carrying fuel to support operations on the peninsula. At least two tankers were hit in the first wave, followed by further strikes that brought the number of targeted vessels to a dozen.

The vessels were described as medium-sized tankers of roughly 7,000 tonnes deadweight, moving along a route that has become central to Moscow’s supply system in southern Ukraine. Video from the operations showed explosions and fires aboard some of the ships. Russian officials did not immediately give a detailed account of the damage to the vessels or the impact on fuel deliveries to Crimea.

Kyiv has increasingly framed strikes on refineries, depots, port facilities and tankers as a way to weaken Russia’s ability to fund and sustain the war. The approach has expanded as Ukraine’s long-range drone capacity has improved, allowing attacks far beyond the front line and forcing Moscow to devote more air-defence resources to industrial regions deep inside Russia.

The Saratov fire followed a series of strikes on Russia’s refining system, including a major attack on the Omsk refinery in Siberia, the country’s largest oil-processing plant. That facility, owned by Gazprom Neft, halted processing after damage to key crude distillation units. The Omsk plant processed about 22 million tonnes of crude in 2024 and is a major supplier of petrol and diesel. Its disruption has already contributed to queues at filling stations and tighter regional fuel availability.

Russia’s fuel market has been under pressure from seasonal demand, refinery maintenance and repeated attacks on processing capacity. Petrol and diesel supplies remain available in most regions, but local shortages, temporary sales restrictions and panic-buying have appeared where refinery disruptions have been most visible. The pressure is politically sensitive because domestic fuel availability is closely linked to public confidence and logistics costs across Russia’s vast internal market.

Ukraine’s attacks have also overlapped with tighter Western scrutiny of ships used to move Russian oil and fuel outside conventional insurance and financing channels. Many vessels in these networks operate with opaque ownership, frequent flag changes and limited transparency over cargo movements. Kyiv has urged allies to move faster against tankers that help Moscow bypass sanctions and maintain revenue flows from energy exports.

Moscow has accused Ukraine of striking civilian infrastructure, while Kyiv argues that energy facilities serving Russia’s military machine are legitimate targets. Both countries have targeted each other’s energy systems throughout the war. Russian missiles and drones have repeatedly hit Ukraine’s power grid, heating facilities, rail links and urban infrastructure, while Ukraine has focused increasingly on refineries, oil depots, storage tanks, pipelines and logistics hubs.

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By Satyaki Chakraborty

Amidst Trump-Modi bonhomie and the continuation of India-US trade talks, former Indian intelligence chief Vikram Sood said on Sunday in an interview to a British network that the present U.S. deputy secretary of state Christopher Landau told Indian officials during his visit to India in March 2026 that Washington would use tariffs, sanctions and other tools to curb India’s rapid economic growth and would not allow it to emerge as a major power competing with USA.

According to Sood, Landau said in that New Delhi meeting” We made a mistake by helping China become a major economic power. We are not going to do that with India. We will not make that mistake again”. Sood gave the interview in a British current affairs programme New Order which the host shared on social media along with the original video of Landau’s comments. The interview has created a furore in diplomatic circles

Landau is still the deputy secretary of state and he is known to be close to the Trump led MAGA lobby along with his boss secretary of state Marco Rubio. Rubio is most visible U.S. official as far as the India-US relations are concerned, but Landau speaks the mind of the Trump administration He was frank about U.S. perception of future of bilateral relations.

In the recent days, Trump administration is taking less interest in its old idea about Indo-Pacific security involving India. India’s importance has declined in Trump administration’s broader Asia strategy. All these have taken place following Trump-Xi Jinping summit in Beijing in May this year. As a result, the focus is now more on extracting maximum concessions from India in trade and in defence purchases while ensuring that India’s growth momentum does not pose any threat to the U.S. economic power.

While other foreign offices are also assessing the real import of the comments made by the deputy secretary of U.S. Christopher Landau, China has reacted instantly as Landau cited the example of China to say that the US would not make that type of mistake in the case of India.

Chinese observers described Washington’s approach toward New Delhi as a dual strategy of “limited engagement and ceiling control.” They argued that deep-rooted structural contradictions arising from differing national ambitions, visions of global order, geopolitical interests, industrial competition and diplomatic traditions could not be fundamentally resolved through diplomatic engagement or economic cooperation between India and the US.

Qian Feng, director of the Research Department at Tsinghua University’s National Strategy Institute, told the Global Times on Monday that the rapid expansion of US-India relations over the past two decades is reaching a ceiling, as the two countries face structural contradictions that are difficult to reconcile. These differences stem from their differing stages of development, strategic cultures, geopolitical positions, diplomatic traditions and the foreign policy orientations of their leadership.

Qian said India’s long-standing commitment to strategic autonomy fundamentally differs from Washington’s alliance-based approach. New Delhi has consistently pursued an independent foreign policy based on its own national interests rather than aligning fully with US strategic objectives. Even within frameworks such as the Quad and the Indo-Pacific Strategy, India seeks to engage the US as an equal partner rather than as a formal ally or subordinate security partner

This observation by the Chinese expert in the official media indicates that China now is seeking to woo India for improving India-China bilateral relations and toned down its earlier stance that the US has got India as a partner in its Indo-Pacific strategy, primarily meant against China. The emphasis of the Chinese analysts is that PM Narendra Modi was seeking to follow an independent policy defying the American pressure.

According to Chinese experts, Landau’s remarks reflected Washington’s broader approach toward India – seeking New Delhi’s support in geopolitical competition while locking it at a lower end of the industrial chain. Such a strategy, they argued, runs counter to India’s strategic goals.

According to Qian Feng, “Industrialization is a legitimate right of all developing countries. Guided by a zero-sum mindset, the US seeks to impose a ceiling on other countries’ development. By carving up global supply chains through tariffs and technical barriers, it will only push India to deepen cooperation within the BRICS framework as well as with China and Russia, accelerating the diversification of industrial chains”,

Right now, India and the United States appear to be racing towards concluding the trade deal much before the end of 2026. Commerce Minister Piyush Goyal said that 99 per cent of the issues had been sorted out in the negotiations.. U.S. officials also underlined that the bilateral trade framework is nearly complete. But even in the last phase of India-US trade negotiations, the U.S. talked of imposing sanctions under section 301. This meant an imposition of 12.5 per cent duty on countries including India which are under investigations.

The details of the proposed India-US trade deal are not known, but the tenor of the senior official Landau’s statement vindicates the apprehensions being expressed by many trade experts that the US is imposing a trade deal on India in a hurry protecting only the interests of USA and not India. It is time, the Narendra Modi government shows some guts and protects the interests of the Indian farmers and the other sections just as the US negotiators are defending their own farmers and industry’s interests.

India is the largest populated country of the world with a growing economy. Its growth depends on its resources human capital and many other assets. The country certainly needs trade agreement with the USA. But it has to be on an equal footing. No country, however powerful , can be allowed to suppress the growth of the Indian economy. The assertion of India’s strategic autonomy during negotiations with the U.S. will be the fittest reply to the U.S. deputy secretary of state Christopher Landau. China has shown that. India also can do the same by dealing with the U.S. on an equal footing. (IPA Service)

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Balogun had been expected to miss the knockout match after being sent off during the United States’ 2-0 victory over Bosnia and Herzegovina on July 1. The 25-year-old, who had scored his third goal of the tournament in that game, was dismissed after a VAR review for a challenge on defender Tarik Muharemovic. Under the World Cup competition regulations, a red card normally carries an automatic suspension from the team’s next match.

FIFA has not rescinded the red card. Instead, its disciplinary committee suspended implementation of the one-match ban for a probationary period of one year, citing provisions that allow a judicial body to defer the enforcement of a sanction. The effect is immediate: Balogun remains eligible for the Belgium match, while any comparable infringement during the probationary period could reactivate the punishment and bring further sanction.

The ruling has turned a major knockout fixture into a governance controversy. Belgium said it was “astonished” by the decision and argued that it contradicted the tournament’s own rules on automatic suspensions. The Belgian federation said it was studying all available options to protect sporting fairness, with the timing of any appeal critical because the match is due to be played on Monday night.

The case has gained an added political dimension after President Donald Trump publicly praised FIFA’s move and said the governing body had corrected what he called a “great injustice”. Trump had asked FIFA President Gianni Infantino to review Balogun’s sending-off, bringing a high-profile political intervention into a disciplinary process that is normally handled through football’s internal judicial channels.

United States coach Mauricio Pochettino welcomed the ruling, maintaining that Balogun’s dismissal was excessive. He said the team had already been punished by playing the closing stages against Bosnia and Herzegovina with 10 men, and argued that there was precedent for disciplinary sanctions being deferred rather than served immediately. The decision is a major boost to a side seeking to reach the World Cup quarter-finals for the first time since 2002.

Belgium’s objection rests on the distinction between overturning a red card and suspending the sanction that follows it. The red card remains on Balogun’s record, but the punishment has been delayed. Critics say that approach weakens the automatic nature of the suspension and risks creating different outcomes for players in comparable situations. Supporters of FIFA’s action argue that disciplinary bodies must have room to correct punishments when match officials make harsh or disputed calls.

UEFA has also entered the dispute, describing the decision as unprecedented and warning that the certainty of rules is central to credible competition. Its intervention reflects concern beyond Belgium’s camp, especially because other players at the tournament have served bans after red-card offences. The governing body’s criticism raises the prospect that FIFA may face pressure to explain more fully why Balogun’s case warranted exceptional treatment.

The disciplinary debate comes at a sensitive point in the tournament. The United States, as a co-host, has drawn large crowds and intense domestic attention. Balogun, born in New York and developed in England’s football system before representing the United States, has become one of the team’s key attacking players. His availability changes Pochettino’s selection options and could influence Belgium’s defensive planning.

Belgium, led by Rudi Garcia, entered the knockout phase with expectations shaped by an experienced squad and a strong tournament pedigree. The Red Devils will now have to prepare for a United States attack that includes its leading scorer, while also deciding whether to continue a legal or procedural challenge before kick-off. Any escalation would test FIFA’s capacity to resolve disciplinary disputes quickly during a compressed knockout schedule.

The controversy also revives debate over consistency in world football’s disciplinary process. FIFA’s rules give its judicial bodies discretion in some circumstances, but knockout tournaments depend on predictable enforcement because one match can decide a campaign. Automatic bans are intended to provide clarity after red cards, limiting arguments over whether teams should be allowed to retain suspended players in decisive fixtures.

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Haaland broke the deadlock in the 79th minute with a powerful header and added a second in the 90th minute, turning a tight knockout match into one of the defining shocks of the 2026 tournament. Neymar converted a stoppage-time penalty in the 100th minute, but Brazil ran out of time to force extra time.

The result sent Norway into a quarter-final against England, who beat co-hosts Mexico 3-2 in Mexico City. It also marked Brazil’s earliest World Cup exit since 1990 and extended the country’s wait for a sixth title, with its last triumph still dating back to 2002.

Norway’s victory carried historic weight beyond the scoreline. The country had never before reached the last eight of a men’s World Cup and had only once previously gone beyond the group stage, in 1998. That campaign also included a famous 2-1 win over Brazil, a result that has long held a special place in Norway’s football memory. This win, delivered on a far bigger knockout stage, is likely to eclipse it.

Brazil had an early chance to seize control when Bruno Guimarães stepped up for a first-half penalty after Matheus Cunha was fouled. Ørjan Nyland dived low to his right to save the spot-kick, a moment that kept Norway level and gave Ståle Solbakken’s side the platform to grow into the contest.

Norway thought they had scored inside the opening minutes when Patrick Berg finished after Alexander Sørloth’s cut-back, only for the flag to go up for offside. Brazil responded with spells of pressure through Vinícius Júnior, Gabriel Martinelli and Cunha, but their attacking play lacked the speed and precision needed to unsettle Norway’s organised defensive shape.

Carlo Ancelotti’s side controlled phases of possession but struggled to convert territory into clear chances. Brazil’s midfield found it difficult to play through Norway’s compact lines, while Gabriel Magalhães and Marquinhos were repeatedly drawn into a physical battle with Haaland and Sørloth.

The match changed when Norway injected more pace and direct running into the final third. Andreas Schjelderup, whose late movement stretched Brazil’s defence, supplied the cross for Haaland’s opener. The Manchester City striker rose between defenders and directed his header beyond the goalkeeper, sending the large Norwegian contingent into celebration.

Brazil pushed forward after falling behind, introducing Neymar as they chased an equaliser. The move brought more urgency but also left space behind the defence. Norway punished that risk before stoppage time when Haaland collected the ball and drove a low finish into the net, taking his tournament tally to seven goals and underlining his role as the central figure in Norway’s campaign.

Neymar’s late penalty, awarded after contact inside the area, briefly revived Brazil’s hopes. His conversion reduced the deficit but did not alter the outcome. The forward’s emotional reaction after the final whistle added to the sense that Brazil had reached the end of another cycle without turning talent into a title-winning run.

For Brazil, the defeat will intensify scrutiny of Ancelotti’s cautious game plan and the balance of a squad that still depends heavily on moments from individual forwards. The missed first-half penalty, the lack of fluency in midfield and the late defensive collapse will dominate the post-match debate.

Norway’s success was built on discipline, resilience and the finishing power of a striker who has carried club dominance onto the World Cup stage. Nyland’s penalty save was as important as either goal, while Martin Ødegaard’s control in midfield helped Norway slow the tempo whenever Brazil threatened to build pressure.

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By Nantoo Banerjee

Despite never qualifying for the FIFA (Federations of International Football Associations) World Cup, India has emerged as one of the largest global markets for the current tournament being co-hosted by the United States, Canada, and Mexico, with matches played across 16 official host cities. In the opening weekend alone, the tournament reached over 100 million viewers across Zee Entertainment’s platforms. The FIFA World Cup 2026 is officially broadcast in India in Hindi, English, Bengali, and Malayalam. These language feeds aim to cater to regional football strongholds in West Bengal and Kerala, as well as the broader national audience. India holds the second largest Instagram audience for FIFA globally. It is another matter that India’s national men’s football team is currently ranked 139th in the official FIFA World Rankings, placing them 26th among Asian Football Confederation (AFC) nations. Viewers in India are consuming the tournament through a variety of digital, television, and social platforms.

Live matches are being exclusively broadcast in India by Zee Entertainment Enterprises across their Unite8 Sports network channels. Digital streaming is handled by Zee5, which attracted millions of viewers on its opening weekend, with an average engagement time exceeding 190 minutes per viewer. Zee Entertainment secured the exclusive television and digital broadcasting rights for the 2026 FIFA World Cup in India for an estimated cost of US$40 million (over Rs.380 crore). The World Cup Football tournament has generated huge buzz in India, with over 360 million views on social media and a massive 10.21 percent share of FIFA’s global Instagram audience. Zee Entertainment holds the exclusive television and digital broadcasting rights for the FIFA World Cup 2026 in India. Football fans are watching the matches live on Zee’s newly launched United8 Sports Network on TV and streaming them digitally on the ZEE5 platform.

A powerful chain of events is driving the growth of India’s media and entertainment (M&E) sector to digital space. Hyper-affordable data and widespread smartphone penetration, a massive shift from traditional broadcasting to digital streaming, a booming live event economy, and the integration of artificial intelligence (AI) are propelling the growth. Over 55 crore smartphone users and the availability of the world’s cheapest data costs have transformed mobile phones into the primary entertainment device, where Indians spend the majority of their media time. With audiences increasingly consuming personalized and regional content, digital media officially overtook television to become the largest segment in the Indian M&E landscape. Lately, the exploding ‘concert economy’ is being fuelled by a spike in ticketed concerts featuring global artists, large public gatherings, and a massive rise in multi-city domestic tours. The democratization of content creation—powered by a four-million-strong creator economy and AI-enabled workflows—has drastically cut production costs and accelerated the generation of professional-grade audio and video.

Thanks to these developments, the media and entertainment industry is experiencing a highly encouraging growth. Leading the country’s media and entertainment industry boom are JioStar (Reliance-Disney-Bodhi Tree), Zee Entertainment Enterprises, Sony Pictures Networks, Sun TV Network and digital leaders like Prime Video. Latest reports suggest that the country’s media and entertainment (M&E) sector reached an estimated total value of Rs. 2.78 trillion, clocking nearly a 10 percent year-on-year growth. This comprehensive growth was defined by several key drivers and structural shifts such as digital media, live events and traditional media shifts.

The digital media has crossed the historic Rs. one-trillion mark, becoming the largest single segment. Digital advertising grew 26 percent and now accounts for 63 percent of total ad revenues. Live events are experiencing massive growth, expanding by 44 percent year-on-year as audiences returned to in-person experiences. Linear television and print media faced transitions and mixed trends, with brands increasingly pivoting to performance-led digital formats. The industry is undergoing a massive transformation with key trends dominating the landscape are digital and micro-drama explosion, the ‘Orange Economy’, live events and regional content, global tech investments. Reports suggest that overall industry revenues are pacing forward toward Rs.3.30 trillion by 2028.

Digital media’s growth has been fuelled by widespread smartphone penetration and 5G. Further, vertical mobile micro-dramas (bitesize, high-intensity serialized episodes) have emerged as the fastest-growing sector, capturing a US$300 million market share. The government views the creative and cultural economy (Orange Economy) as a core employment strategy and soft power asset, leading to tech-forward initiatives and support for AI integration in visual effects, gaming, and cloud-based storytelling. Live events and experiential entertainment are surging by over 40 percent year-over-year. Simultaneously, regional OTT (Over-The-Top) content volumes have officially surpassed Hindi-language releases, decentralizing production to local markets. Tech giants like Amazon are pouring billions into Indian cloud and AI infrastructure to bolster this content revolution.

The government is keenly watching the expansion of the digital sector and its growing contribution to economic growth. Digital India, the government’s umbrella flagship programme, is helping the country transform itself into a digitally empowered society and knowledge economy. Its digital infrastructure Is providing high-speed internet, lifelong digital identities, mobile connectivity, and accessible public internet networks across urban and rural areas. All government entitlements, utility payments, and services are being made instantly available online and via mobile devices. At the same time, the government is driving digital literacy and bridging the urban-rural divide through nationwide training and local service centres. Over 5.6 lakh Common Services Centres (CSCs) deliver hundreds of e-governance and business services right to the village level. Policy initiatives, including the upcoming National Centre of Excellence for AVGC (Animation, Visual Effects, Gaming, and Comics) and single-window clearances for live events, are fostering sustainable, structured growth across the country.

Digital media is driving an explosive growth of the entertainment industry, shifting power from traditional gatekeepers to direct-to-consumer digital platforms. Digital explosion has engulfed even the traditional publishing and print media establishments such as Bennett Coleman& Co., Hindustan Times, India Today and Jagran Prakashan. In fact, India’s media & entertainment (M&E) sector is experiencing a monumental structural shift. Today, digital media has even overtaken television to become the largest segment, driving the industry to a massive Rs. 2.78 trillion market. Everything from content creation and distribution to advertising is now fundamentally centred around digital consumption. (IPA Service)

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The fatal incident took place at Patan village in Maval taluka, near Lohagad Fort, where a house was buried under debris in the early hours. Rescue teams recovered one body from the site, while operations continued to trace two other members of the same family. Police said three landslides were reported in the remote village after sustained heavy rainfall loosened slopes in the area.

The weather disruption quickly widened into a major transport emergency. Traffic on the Pune-Mumbai Expressway and the old Pune-Mumbai Highway was suspended after landslides, flooding and structural damage made movement unsafe. Authorities advised motorists to avoid travel between the two cities and follow official traffic updates, as waterlogging and debris blocked several stretches in and around Lonavala, Khandala and Maval.

The most serious road disruption was reported on the Pune-to-Mumbai carriageway of the Khopoli-Kusgaon Missing Link, where a landslide occurred near the exit of a tunnel. Traffic had to be diverted from about 4am as a precaution. Officials said parts of the retaining structure were affected, while separate reports of a concrete pillar falling on the carriageway added to safety concerns. The Missing Link, opened two months ago, is a 13-km route through the Sahyadri range designed to cut travel distance by about 6 km and reduce travel time by 25 to 30 minutes.

By early afternoon, movement on one side of the Missing Link had begun to resume, but diversions continued on the Pune-to-Mumbai side. Traffic on the old highway was being restored in phases, though police warned that water accumulation, damaged power lines and fallen trees could slow full reopening. Several motorists reported being stuck near Lonavala since early morning, with bumper-to-bumper queues forming after vehicles were shifted away from the closed stretch.

Rail services on the Mumbai-Pune route were also hit after landslides deposited mud and debris on tracks in the Bhor Ghat section between Karjat and Lonavala. Sixteen trains were cancelled, while several others were diverted, short-terminated or short-originated. Railway teams began clearing operations near Thakurwadi and Monkey Hill Loop Cabin, with safety inspections required before regular movement could resume on affected tracks.

The disruption came after Lonavala recorded exceptionally heavy rainfall, with estimates ranging from more than 600 mm to 670 mm over 24 hours. The heavy downpour swelled streams, flooded low-lying areas and left slopes in the ghat section vulnerable to further slips. Officials said flood-like conditions were also reported in parts of Maval and Tamhini Ghat, restricting the use of alternate routes between Pune and Mumbai.

The Pune district administration declared a holiday for all schools and anganwadis on Monday after a red alert for extremely heavy rain. Residents were asked to avoid unnecessary travel, stay away from waterfalls, rivers and hill slopes, and not venture into flooded stretches. Disaster response teams, police and local volunteers were deployed across vulnerable points, with the National Disaster Response Force engaged in search and rescue work at Patan village.

The wider rain spell has placed Maharashtra’s disaster management system under pressure. Mumbai, Palghar, Raigad and the ghat areas of Pune district received heavy to extremely heavy rainfall, causing tree falls, local flooding and transport breakdowns. Mumbai’s civic authorities advised work-from-home arrangements where possible, while schools and colleges in several districts were shut as a precaution.

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The rally followed the June employment report, which showed non-farm payrolls rising by 57,000, well below market expectations of roughly 110,000. The unemployment rate eased to 4.2 per cent, but the decline was clouded by a fall in labour force participation to 61.5 per cent, suggesting that fewer people were actively seeking work rather than a broad strengthening in hiring.

The data shifted the tone across markets. Futures linked to the federal funds rate priced a 46.8 per cent probability that the Federal Reserve will leave rates unchanged at its September 15-16 meeting, up from 35.8 per cent a day earlier. Traders also scaled back expectations of a move at the July meeting, strengthening the view that policymakers may have more time to assess inflation before tightening again.

Europe led the global equity advance, with the STOXX 600 touching a record high and gaining about 0.6 per cent on Friday. The index was on course for a weekly rise of around 2.6 per cent, its strongest performance since mid-May. Broader world shares rose 0.4 per cent and were set for a weekly gain of nearly 2 per cent, reflecting a wider return of confidence after weeks of concern over inflation, oil prices and technology valuations.

The market response underlined the delicate balance now shaping investor sentiment. A softer labour market reduces pressure on the Federal Reserve to raise borrowing costs, which supports equities, especially sectors sensitive to interest rates. At the same time, the weakness was not severe enough to trigger immediate fears of recession, allowing investors to treat the data as a moderating signal rather than a warning of economic stress.

The labour report showed uneven conditions beneath the headline figure. Professional and business services added 36,000 jobs, social assistance gained 25,000, and health care added 22,000. Leisure and hospitality lost 61,000 jobs, reflecting weaker seasonal hiring. Payroll gains for April and May were also revised down by a combined 74,000, reinforcing the impression that hiring momentum has cooled more than earlier figures suggested.

Average hourly earnings rose 0.3 per cent in June and were up 3.5 per cent from a year earlier. The wage data kept inflation concerns alive, even as the hiring slowdown reduced the urgency for another rate increase. The Federal Reserve’s target range for the federal funds rate remains at 3.50 per cent to 3.75 per cent after policymakers left rates unchanged at their June meeting.

Gold benefited from the shift in rate expectations, climbing about 1 per cent to above $4,160 an ounce and heading for a weekly gain of around 1.8 per cent. Lower expectations of rate increases tend to support gold by reducing the opportunity cost of holding the metal. The dollar paused after rising earlier in the week, with the euro trading near $1.144 and sterling around $1.335.

Asian markets also found support from stronger regional activity indicators and a rebound in chip-related shares. South Korea’s KOSPI rose sharply, while Japan’s Nikkei gained about 1.5 per cent. Business surveys showed Japan’s services sector returning to expansion in June, while China’s services activity continued to grow, though at a slower pace. Overseas demand for Chinese services rose at the fastest rate in 20 months, offering a counterweight to concerns about weak domestic demand.

Technology shares remained a source of volatility. Semiconductor and artificial intelligence-linked stocks had come under pressure on Wall Street earlier in the week as investors questioned stretched valuations. The rebound in Asia suggested that the AI trade has not lost support, but the rotation into financials, health care and European equities showed investors are becoming more selective after a powerful run in growth stocks.

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By K Raveendran

The alleged theft of donations from the Ayodhya Ram Temple has pushed a long-simmering question into the national foreground: who should guard the wealth of religious institutions when faith, money and power converge without adequate public accountability?

The issue is not confined to Ayodhya, nor to Hindu institutions. Across denominations, religious endowments, shrines, trusts, churches, mosques, waqf properties, mutts, gurudwaras and pilgrimage centres command vast public confidence and substantial material assets. They receive cash donations, jewellery, land, securities, foreign contributions and digital payments. Many also run schools, hospitals, charities, hostels and welfare networks. Yet the systems meant to protect these assets are often uneven, opaque and vulnerable to manipulation by insiders, contractors, political patrons and intermediaries.

The Ayodhya episode is especially disturbing because of the symbolic weight of the institution. The Ram Temple is not an ordinary shrine. It was built after decades of mass mobilisation, litigation, political conflict and emotional investment by millions of devotees. Donations came not merely as money, but as acts of belief. When allegations of organised pilferage, cash diversion, foreign-currency recovery and weak internal controls arise in such a setting, the damage goes beyond financial loss. It strikes at the moral authority of those entrusted with managing a sacred public trust.

The decision to re-audit several years of temple accounts, the formation of a special investigation process, resignations linked to the controversy and political protests around the issue suggest that the matter has moved beyond routine administrative failure. Even if the final criminal liability is determined only after investigation and trial, the governance failure is already evident. A system that allows donation theft to become organised, or even credibly alleged at scale, cannot be defended as merely the work of a few rogue individuals. It points to inadequate safeguards, excessive concentration of control and poor external scrutiny.

Religious institutions occupy a difficult constitutional and moral space. They are not commercial companies, yet they handle wealth on a scale that would require strict compliance if held by a corporation. They are not arms of the state, yet they often enjoy public concessions, police protection, tax privileges, land grants and political patronage. They are not private family properties in the ordinary sense, yet their management is frequently dominated by closed groups, hereditary interests or networks answerable only to themselves. This ambiguity has created the perfect terrain for mismanagement.

The instinctive response in India has often been state control, especially in the case of Hindu temples. Several states have long exercised control over temples through endowment departments and statutory boards. That model was justified historically as a way to prevent hereditary abuse, protect temple assets and ensure public access. Yet experience has shown that government control is no guarantee of integrity. It can replace one form of capture with another. Bureaucrats may lack religious sensitivity, politicians may use temple revenues for patronage, and administrators may treat sacred institutions as revenue-generating departments rather than community trusts.

At the other end lies the argument that religious communities should be left entirely to manage their own institutions. That view has emotional appeal, particularly where state intervention appears selective or discriminatory. But it ignores the record of internal capture. Many religious institutions have seen allegations of land alienation, donation siphoning, inflated contracts, gold and silver misappropriation, manipulation of appointment powers, under-reporting of income, unauthorised leases and factional control by clerical or lay elites. Faith alone is not an audit mechanism. Devotion cannot substitute for governance.

The answer, therefore, cannot be either blanket government control or unregulated autonomy. What India needs is a secular, arms-length accountability framework that treats religious wealth as public-trust wealth without interfering in religious practice. The distinction is crucial. The state has no business deciding rituals, doctrine, liturgy, worship methods, clerical legitimacy or theological questions. But it has a legitimate interest in ensuring that assets donated by the public are not stolen, diverted, encroached upon or used for purposes contrary to the trust under which they were given.

A statutory national commission for religious institutional governance deserves serious consideration. Its remit should not be denominational. It should cover major public religious institutions across faiths, subject to reasonable thresholds of income, assets, public donations, landholdings or charitable operations. Such a body should not manage temples, mosques, churches or gurudwaras directly. It should supervise governance standards, mandate transparent accounting, prescribe independent audits, require asset registers, enforce conflict-of-interest rules, examine major land transactions and ensure that complaints are investigated through due process.

The secular character of such a commission would be its strongest safeguard. It should not be a Hindu temple board, a waqf authority, a church regulator or a politically appointed religious council. It should be a public accountability body staffed by experts in law, audit, public finance, heritage management, charity regulation, digital payments, forensic accounting and constitutional rights. Religious representatives could be consulted through advisory panels, but operational control should remain professional and independent. The objective should be institutional integrity, not theological supervision.

The commission’s first task should be transparency. Every significant religious institution should maintain a publicly accessible annual statement of income, expenditure, assets, liabilities, donations, major contracts and land transactions. This need not expose the identity of small donors or sensitive religious details. But the public should know how much money was received, where it was deposited, how it was spent, who approved the spending and whether independent auditors found irregularities. Digital donation systems should be traceable, tamper-resistant and reconciled daily with bank accounts. Cash donation boxes should be opened only under recorded procedures, with multiple authorised signatories and surveillance-backed counting systems.

There will, of course, be objections. Religious bodies will fear state intrusion. Minority groups may fear majoritarian pressure. Hindu organisations may argue that temples must first be freed from discriminatory state control. Political parties may resist losing influence over appointments, contracts and land. These concerns are not imaginary. Any national commission could itself become an instrument of control if appointments are partisan, powers are vague or safeguards are weak. That is why design matters.

Appointments to such a commission must be insulated from day-to-day politics. Selection should involve the judiciary, constitutional authorities, financial experts and representatives of recognised civil society institutions. Its orders should be appealable before courts. Its powers should be limited to secular administration, finance, property and governance. Its functioning should be transparent.

The Ayodhya controversy has arrived at a moment when religious institutions are becoming more financially complex. Pilgrimage tourism is expanding, digital giving is rising, religious infrastructure is being linked to urban development, and faith-based charities are moving large sums through formal and informal channels. The old assumption that temple or trust management is a matter for local elders and voluntary committees no longer matches reality. Many of these institutions now resemble large public endowments with national reach and emotional legitimacy. Their governance must evolve accordingly. (IPA Service)

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The inaugural India–Mali Forum for the Promotion of Exports was held in Bamako under the theme “Reinforcing Trade and Strategic Partnerships”, bringing together senior officials, export agencies and about 30 business leaders from India. The two-day initiative marks an attempt to move commercial engagement beyond commodity flows and towards sector-specific projects in cotton, mining, energy, pharmaceuticals, agro-processing, health and education.

The forum was jointly organised by Mali’s Ministry of Industry and Trade, the Embassy of India in Bamako and the Malian Agency for the Promotion of Exports. It was presided over by Mali’s Transition Government Prime Minister, Major General Abdoulaye Maïga, with the delegation from India led by Amit Kumar, Joint Secretary for FT-Africa in the Department of Commerce. Dr N. Nandakumar, Ambassador of India to Mali, represented the mission through the proceedings.

Bilateral trade crossed $326.61 million in 2025–26, a 55 per cent increase over the previous financial year. Mali’s exports to India include raw cotton, finished leather, cashew, lead, gum arabic and sesame. India’s exports to Mali include pharmaceuticals, cotton fabrics, two-wheelers, three-wheelers and bicycles. Officials see the current trade base as narrow but expandable, particularly because Mali’s global exports stand at about $4 billion and its untapped export potential in the market of India is estimated at nearly $3.96 billion.

The Duty-Free Tariff Preference Scheme has been a central driver of trade growth, offering least developed countries preferential access to the market of India. For Mali, the scheme provides a policy opening at a time when Bamako is seeking to diversify export destinations and reduce dependence on raw commodity shipments. For New Delhi, the forum fits a wider push to deepen commercial links with Africa through trade facilitation, capacity building and private-sector participation.

Business-to-business, business-to-government and government-to-government meetings formed the operational core of the forum. Exhibition stands featured products from both countries, including tractors and vehicles manufactured by Sonalika, Mahindra and Tata Motors. The format was designed to connect firms with regulators, identify bankable projects and address procedural bottlenecks that often slow trade between developing markets.

Mali presented ready-made business plans to potential investors and placed emphasis on agro-industry, shea processing, mining-linked services, renewable energy and social infrastructure. The country is seeking more value addition in cotton and agricultural commodities rather than relying mainly on exports of raw or semi-processed products. Cotton remains a significant sector for Mali, while shea, sesame, cashew and gum arabic offer scope for processing, branding and direct export partnerships.

Pharmaceuticals emerged as another key area. Mali sought quicker registration of approved products from India, a move that could expand access to affordable medicines and medical supplies. Health and education infrastructure were also discussed as areas where companies and institutions could provide services, equipment and training support.

The mining dimension is more complex. Mali is one of Africa’s leading gold producers and is working to tighten oversight of its precious metals trade after identifying large gaps between declared exports and import data reported by partner countries. A new state entity has been created to centralise and regulate precious-substances flows, reflecting Bamako’s effort to capture more value from gold and reduce informal trade. Industrial mines export about 60 tonnes of gold annually, while artisanal mining employs nearly 2 million people across hundreds of sites.

Security remains a central concern for investors. Mali has faced instability and militant violence, and economic assets have been among the risks flagged by foreign governments and companies. Earlier this year, security concerns stalled participation by government-backed firms from India in a Russian-backed lithium exploration project in Mali. That episode underlined the challenge of matching mineral ambitions with investor confidence.

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The warning has sharpened concern that a public-health crisis driven by the Bundibugyo strain, for which there is no approved vaccine or specific treatment, could reverse fragile gains in poverty reduction, disrupt cross-border trade and deepen instability in already conflict-affected areas of eastern Congo. The outbreak, confirmed in May in Congo and Uganda, has expanded in a difficult setting marked by displacement, insecurity, weak health infrastructure and high population movement.

Congo has reported 1,502 confirmed Ebola cases and 473 deaths, with infections concentrated in Ituri, North Kivu and South Kivu. The figures underline the speed at which the disease has moved through communities where health facilities are stretched and contact tracing remains complicated by mistrust and violence.

The UNDP assessment places the likely direct economic hit to Congo at more than $1 billion, with around 55,000 jobs at risk inside the country. It also warns that nearly 985,000 more people could be pushed into poverty if the outbreak is not contained quickly. The agency’s worst-case model extends the losses across the continent if regional transmission widens, trade routes are disrupted and energy-price pressures compound the shock.

The social burden is expected to fall unevenly. Women, informal workers, poor households and children are likely to face the harshest effects as markets close, movement restrictions affect livelihoods and households redirect income towards care, transport and burial costs. Health systems already under strain could also see more indirect deaths as routine services, vaccinations, maternal care and treatment for malaria and other diseases are interrupted.

The outbreak is Congo’s 17th Ebola emergency, but the Bundibugyo strain has created special difficulty because existing licensed Ebola vaccines were developed for the Zaire strain. Scientists are now racing to test medical countermeasures while responders expand treatment capacity, laboratory testing and community engagement.

A treatment trial has begun in Congo after the first patient was enrolled this week. The study will evaluate Mapp Biopharmaceutical’s experimental antibody MBP134, both alone and in combination with Gilead Sciences’ antiviral remdesivir. More than 1,000 patients are expected to be included, while drug supplies have been secured for trial use and emergency access if the products prove safe and effective.

The World Health Organisation has also added the first diagnostic test for Bundibugyo Ebola virus to its emergency-use listing, a move intended to speed detection in affected areas and reduce delays in isolation. Ten laboratories are now able to test for Ebola, and follow-up is being conducted for about four in five known contacts, though responders say more contacts still need to be identified for each confirmed case.

Treatment capacity has been expanded to about 650 beds, with plans to add 300 more. Occupancy remains high, indicating both the scale of the outbreak and the pressure on frontline facilities. Health workers continue to face risks from infection, exhaustion and attacks on medical sites. An assault on an Ebola treatment centre in Ituri province, which left two people dead, illustrated how insecurity can undermine containment even when technical capacity improves.

The outbreak has also revived concern over the effect of aid cuts and funding gaps on emergency preparedness. Africa CDC has sought $18 million in urgent support for clinical trials and contact tracing, including work on treatments for infected patients and preventive drugs for those exposed to the virus. Delays in financing could slow the response at a stage when rapid isolation, safe care and community trust are essential.

Ebola spreads through direct contact with blood or bodily fluids of infected people, contaminated surfaces or the bodies of those who have died from the disease. Early symptoms can resemble malaria, typhoid or other common infections, complicating diagnosis in areas where health services are limited. Safe burials, early treatment, protective equipment and accurate local communication remain central to control efforts.

The regional risk is heightened by mobility across borders and the importance of eastern Congo’s trade corridors. Uganda has confirmed cases linked to the same outbreak, while neighbouring countries have stepped up surveillance and preparedness. Any wider spread could disrupt transport, markets, schooling and health services across central and eastern Africa.

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Argentina advanced to a round-of-16 meeting with Egypt, but the night belonged almost as much to Cape Verde, whose players twice came from behind and stood within minutes of forcing a penalty shootout against a side led by Lionel Messi. The result ended Cape Verde’s first appearance at football’s biggest tournament, yet their performances across four matches altered perceptions of what a debutant from a small football nation can achieve on the world stage.

Messi opened the scoring in the 29th minute, controlling a lofted pass from Lisandro Martinez before beating goalkeeper Vozinha. The goal added another entry to a remarkable tournament for the Argentina captain, who has continued to shape games deep into the knockout phase of what is expected to be his final World Cup.

Cape Verde did not retreat after the setback. Bubista’s side stayed compact, slowed Argentina’s rhythm and relied on quick passing when space opened on the break. Their equaliser arrived just before the hour mark when Ryan Mendes found Deroy Duarte inside the area and the midfielder finished past Emiliano Martinez to bring the match level.

Argentina, who had controlled possession for long periods, struggled to convert pressure into comfort. Vozinha, 40, produced key saves to keep Cape Verde alive, including stops from Messi as the champions searched for a second goal. Kevin Pina’s composure in defence and midfield also helped Cape Verde resist Argentina’s attempts to pull the match open.

The contest moved into extra time with Argentina under visible strain. Martinez restored the holders’ advantage early in the added period, driving the ball high into the net after Cape Verde failed to clear a corner. That might have broken a less disciplined side, but Cape Verde again responded with confidence.

Sidny Lopes Cabral produced one of the standout moments of the match when he curled a fine strike beyond Emiliano Martinez in the 103rd minute. The goal revived Cape Verde’s hopes and briefly placed Argentina on the edge of one of the biggest shocks in World Cup knockout history.

The decisive moment came six minutes into the second half of extra time. Messi’s corner created panic in the Cape Verde defence, and the ball went in after contact involving Cristian Romero and defender Diney Borges. The goal was enough to send Argentina through, though Cape Verde continued to threaten in the closing stages. Lopes Cabral forced another save from Emiliano Martinez with a free-kick as the champions defended anxiously until the final whistle.

Cape Verde’s campaign had already crossed historic lines before kick-off. The Atlantic island nation, making its World Cup debut, reached the knockout phase after group-stage draws against Spain, Uruguay and Saudi Arabia. They were the only debutants to reach the last 32 and entered the tournament ranked far below most established contenders.

Their progress was built on organisation rather than chance. Cape Verde conceded little space between the lines, pressed selectively and carried enough technical quality to punish opponents who underestimated their control in transition. Against Argentina, they were beaten but not outclassed, a distinction that matters for a side seeking long-term recognition beyond one tournament.

The squad reflected the modern spread of African football talent, with players drawn from clubs across Europe and beyond rather than a single domestic power base. That diversity did not weaken their identity. It gave Bubista options, and the team played with a clarity that kept them competitive against opponents with deeper benches and far greater tournament experience.

Argentina’s next test against Egypt will carry major star appeal, with Messi and Mohamed Salah on opposite sides of another knockout tie. Egypt reached the last 16 by beating Australia on penalties after a 1-1 draw, adding further weight to a section of the bracket shaped by tension, extra time and narrow margins.

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The policy direction was set out in a notice issued by the National Film Administration and the State Administration for Market Regulation, outlining 10 measures across business diversification, brand management and service upgrades. The move comes as theatre operators face pressure to stabilise footfall outside peak holiday seasons, even after a strong box-office rebound in 2025.

The notice supports the introduction of AI agents, electronic games and karaoke as part of cinema-based leisure services. It also encourages theatres to add light meals, bakeries, desserts, coffee-book bars, self-service vending zones and smart meal-pickup cabinets. The aim is to create “film plus leisure” venues that can attract customers before and after screenings and generate higher non-ticket revenue.

The policy also urges cinemas to develop licensed film merchandise, IP-linked products, designer goods, cultural and creative retail stores, and pop-up experiences connected to film releases. Operators are being encouraged to work with local craftspeople and intangible cultural heritage practitioners to create cinema-themed products with regional characteristics.

The shift reflects a wider attempt to reshape cultural consumption in China, where shopping malls, live performances, exhibitions, themed restaurants and online entertainment compete for the same urban leisure spending. For cinema chains, the challenge is not only to fill seats for blockbuster releases but also to make their real estate useful throughout the day.

China’s film market recovered strongly in 2025, with nationwide box-office revenue reaching RMB51.83 billion, up nearly 22 per cent from the previous year. Urban cinema admissions rose to about 1.24 billion, helped by strong domestic titles and holiday demand. The Lunar New Year season alone generated about RMB9.5 billion in ticket sales, setting a record for the eight-day holiday period.

The rebound, however, has not removed structural pressure on theatre operators. Attendance remains concentrated around major releases and holiday windows, while many cinemas continue to depend on thin margins from ticket sales. Food, beverage, advertising, memberships and venue rentals have become increasingly important for operators seeking steadier cash flow.

The inclusion of AI agents in the policy points to a more experimental phase for cinema services. AI tools could be used for ticketing assistance, personalised film recommendations, interactive lobby experiences, virtual characters and customer engagement linked to specific film franchises. Such services may also help cinemas build stronger membership systems by analysing viewing preferences and tailoring promotions.

Regulators have also encouraged cinemas to improve customer profiling for core film fans, young viewers and family audiences. This would support more targeted promotions and help match films with suitable audience groups. The policy places emphasis on membership operations, local community engagement and interactive events with a clear film-culture identity.

The measures also open the door for cinemas to host art education events, cultural talks, reading sessions and science-popularisation activities. Character-experience halls, brand flagship spaces, cultural markets, art exhibitions and IP pop-up shops are among the formats identified for possible expansion.

Technology upgrades form another part of the plan. Cinemas are being encouraged to adopt advanced digital LED projection systems, improve sound and image quality, strengthen equipment maintenance and support virtual-reality film screenings through new venues or additional halls. The policy also calls for better film promotion and distribution services at the theatre level.

For major cinema chains, the guidelines could provide a policy framework for deeper partnerships with film studios, technology firms, food brands and local cultural businesses. Companies with strong data capabilities may be better placed to integrate ticketing, retail, memberships and event marketing. Smaller theatres, particularly those in community locations, may use the guidance to add lower-cost services such as coffee, talks, reading clubs or family events.

The strategy carries risks. Expanding beyond film may raise investment costs at a time when not all theatres have recovered fully from earlier losses. AI installations, themed spaces and licensed merchandise require careful execution, while karaoke and gaming could create noise, crowd-control and brand-positioning challenges if not separated well from screening areas.

There are also regulatory considerations. The notice says local film and market-regulation departments should provide business guidance, support qualified cinemas in obtaining required permits and improve administrative procedures. That suggests operators will still need to comply with food safety, entertainment, retail, fire-safety and consumer-protection rules before adding new services.

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The share sale, opened to institutional investors this week, drew bids of about ₹380 billion, or roughly 3.8 times the base offer. The indicative price was set at ₹2,883 a share, below the regulatory floor price of ₹3,034.68 and at a discount to the stock’s previous close, reflecting the typical pricing structure used to secure large-block institutional participation.

The enlarged issue marks one of Adani Enterprises’ biggest equity-raising exercises since the group was hit by a market rout in 2023 following allegations by US short-seller Hindenburg Research. The conglomerate denied wrongdoing, and group companies have since rebuilt access to capital through a mix of equity, debt, asset recycling and strategic partnerships.

The strong response to the placement signals that institutional investors are again willing to back the group’s growth strategy, even as they continue to price in governance, leverage and execution risks. The investor book included global funds and domestic asset managers, with demand high enough for the company to lift the deal size by 50 per cent.

Adani Enterprises is the incubator of the group’s newer businesses. Its portfolio spans airports, roads, data centres, green hydrogen, mining services, defence, solar manufacturing and other infrastructure-linked ventures. The company has been central to the group’s plan to build large operating platforms before eventually listing or separating mature units.

The latest fundraising comes as the group accelerates capital spending across transport, energy transition and materials. Its airports business operates eight airports and is preparing for the opening of Navi Mumbai International Airport, a project expected to strengthen the group’s presence in aviation infrastructure. Data centres and green hydrogen remain capital-intensive bets that require long gestation funding and steady access to institutional capital.

The timing also follows Adani Enterprises’ rights issue of about ₹250 billion completed in late 2025, which was oversubscribed. That offer was used to support capital expenditure, debt repayment and shareholder loan obligations. The new placement gives the company additional flexibility at a time when infrastructure companies are competing for long-duration capital amid rising demand for logistics, power, digital infrastructure and manufacturing capacity.

The share sale is also significant because it reduces reliance on borrowings for the next leg of expansion. Equity funding can ease pressure on balance sheets and improve investor perception of leverage, particularly for companies pursuing several projects at once. At the same time, the discounted pricing means some dilution for existing shareholders, a common trade-off in large institutional placements.

Market reaction was measured. Adani Enterprises shares initially faced pressure after pricing details emerged but later stabilised, suggesting investors had largely anticipated a discount. The stock has recovered substantially from its 2023 lows, though it remains closely watched because of the group’s debt profile, promoter holdings and regulatory scrutiny around past allegations.

The company’s investment cycle has broadened further with plans linked to a major aluminium project in Odisha in partnership with Abu Dhabi’s International Holding Company. The proposed project, valued at about $11.5 billion, is expected to include bauxite mining, alumina refining, aluminium smelting and downstream capacity. The partnership underscores the group’s continuing effort to deepen industrial manufacturing alongside infrastructure.

IHC has been a notable backer of the group through periods of market volatility. Its involvement provides strategic weight to Adani’s expansion into metals, a sector that requires heavy upfront investment, access to raw materials, power security and strong execution discipline. Aluminium demand is being driven by transport, packaging, power transmission, construction and renewable energy infrastructure.

Adani Enterprises’ fundraising also fits a broader trend across the equity market, where companies have used qualified institutional placements to raise growth capital while valuations remain supportive. QIPs allow listed companies to place shares with large investors without the longer timelines associated with some other public offerings. For issuers, the format is faster; for institutions, it provides access to sizeable allocations in liquid companies.

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The German Football Association confirmed Nagelsmann’s departure with immediate effect after the national side’s elimination in the last 32 of the 2026 FIFA World Cup in the United States, Canada and Mexico. Germany were beaten by Paraguay on penalties after a campaign that deepened concern over the direction of a team once viewed as the benchmark of tournament football.

Klopp, who left Liverpool in 2024 after nine years at Anfield, is now the preferred candidate to succeed Nagelsmann. The 59-year-old has been working as Red Bull’s head of global soccer since January 2025, a strategic role covering the group’s football network rather than daily coaching. His contract is understood to contain an exit route for the Germany post, removing one of the main obstacles to an appointment.

The move follows a sharp change in tone inside the DFB after Germany failed to build on signs of recovery under Nagelsmann. The former Bayern Munich and RB Leipzig coach had taken charge in September 2023 after Hansi Flick was dismissed, becoming part of a wider attempt to stabilise the national team before Euro 2024 and the following World Cup cycle.

Nagelsmann’s contract had been extended to 2028, but the Paraguay defeat forced a reassessment. The 38-year-old said the team needed “the opportunity for a true new start” after what he described as a painful disappointment. DFB president Bernd Neuendorf thanked him for his work, commitment and ambition, while the governing body moved quickly to make Klopp its central target.

Germany’s exit has carried particular weight because it continues a difficult World Cup pattern. The four-time champions went out in the group stage in 2018 and 2022, and the expanded 2026 format did not produce the expected reset. Progress beyond the group phase was not enough to ease public frustration after another early knockout departure.

Klopp’s appeal rests on more than his record. He remains closely associated with emotional leadership, aggressive pressing football and the ability to reconnect teams with supporters. At Borussia Dortmund, he won two Bundesliga titles and reached the Champions League final. At Liverpool, he delivered the Champions League, Premier League, FA Cup and League Cup, restoring the club to Europe’s elite after years of instability.

His possible appointment would also mark a stylistic shift from Nagelsmann’s more analytical approach. Germany’s current squad contains technically strong players across midfield and attack, but the team has struggled to impose itself consistently in high-pressure tournament matches. Klopp’s direct communication and clear tactical identity are seen as qualities that could address a side accused of lacking conviction at decisive moments.

The DFB must still settle several practical questions. Klopp has not managed day to day since leaving Liverpool and had spoken of needing distance from the intensity of frontline coaching. Red Bull would also have to manage the loss of the figurehead around whom it built its global football structure. Even so, the Germany job has long been viewed as one of the few posts capable of tempting him back.

The timing is sensitive. Germany need clarity before the next competitive cycle begins, with qualifying, squad renewal and tactical planning all requiring a permanent coach. Several senior players face questions over their international futures, while younger options will need to be integrated before the next European Championship campaign gathers pace.

Nagelsmann’s exit closes a tenure that began with cautious optimism. Germany reached the Euro 2024 quarter-finals before losing to Spain, and there were periods when the side looked more balanced than under Flick. Yet the World Cup defeat revived doubts about mentality, defensive structure and the ability to turn possession into control against disciplined opponents.

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By R. Suryamurthy

Every war leaves behind shattered cities, broken societies and grieving families. But some wars destroy something less visible yet infinitely more consequential: faith in the institutions created to prevent humanity from repeating history’s darkest chapters. The latest report of the United Nations Independent International Commission of Inquiry on Israel and the Occupied Palestinian Territories is therefore more than another meticulous chronicle of atrocities. It is a stark reminder that the international system is steadily losing either the ability—or the political will—to enforce the principles upon which it claims to rest.

For nearly eight decades, the post-1945 order has been built on a simple premise: no state, military or armed group stands above international law. The Geneva Conventions, the UN Charter, the International Court of Justice and the International Criminal Court were designed not merely to codify legal norms but to ensure that power remained constrained by law. Yet Gaza and the occupied West Bank increasingly suggest that these institutions have become repositories of evidence rather than instruments of accountability.

The Commission documents an occupation that has become more entrenched, settlements more aggressive and civilian suffering more routine. It accuses Israel of creating conditions in which settler violence increasingly advances political objectives, while simultaneously exposing Hamas’ systematic campaign of executions, torture and intimidation against Palestinians. Civilians find themselves trapped between state power and militant authoritarianism, with neither side exempt from legal scrutiny.

The temptation is to reduce the conflict to competing moral absolutes. Israel invokes security and the trauma of October 7; Palestinians point to decades of occupation, displacement and overwhelming military force. Both narratives contain undeniable truths. Yet neither can justify deliberate attacks on civilians, hostage-taking, collective punishment, torture or demographic engineering. International humanitarian law was never designed to validate political narratives; it exists precisely to restrain them.

The Commission’s most unsettling conclusion, however, lies beyond its catalogue of abuses. It exposes the widening gulf between documentation and accountability. The United Nations has become exceptionally proficient at recording violations through satellite imagery, digital forensics and witness testimony. Rarely has the world possessed such sophisticated investigative capacity. Yet political enforcement remains conspicuously absent.

This is the defining paradox of contemporary international governance. Never before has humanity known so much about atrocities while doing so little to stop them. Reports accumulate, emergency sessions convene, and resolutions proliferate, yet settlements continue expanding, rockets continue flying, hostages remain captive, and civilians continue paying the price. Every investigation strengthens the historical record while simultaneously exposing the institutional paralysis of those responsible for enforcing international law.

The West Bank illustrates this failure vividly. For years, settler violence was often portrayed as the work of isolated extremists beyond effective government control. The Commission challenges that narrative, suggesting instead that repeated failures to investigate attacks, prosecute offenders and protect Palestinian communities have created an environment where impunity increasingly serves broader political objectives. When intimidation systematically displaces communities, alters demographics and reshapes territory, violence becomes more than a law-and-order problem; it becomes an instrument of policy.

Equally significant is the Commission’s assessment of Hamas. While international attention has understandably focused on Israel’s military operations in Gaza, the report documents Hamas’ own use of executions, torture and public intimidation to consolidate control. These findings complicate the simplistic binary narratives that increasingly dominate global debate. Human rights cannot become conditional upon political allegiance. A legal system that excuses violations committed by one side while condemning identical conduct by another ceases to be universal. That principle now faces its greatest test.

The erosion of international credibility is not solely the consequence of events in Gaza. It also reflects a geopolitical order in which law increasingly bends before strategic interests. Nowhere is this clearer than within the United Nations Security Council. The veto, originally intended to preserve great-power consensus, has evolved into a mechanism that frequently prevents collective action precisely when humanitarian intervention is most urgently required. Whether the conflict is in Gaza, Ukraine, Sudan or Myanmar, the outcome has become painfully familiar: competing resolutions, diplomatic deadlock and continued civilian suffering.

The Gaza conflict has exposed these contradictions with unusual clarity. The United States continues to balance unwavering support for Israel’s security with concern over humanitarian conditions. European governments remain divided between historical responsibility and domestic political pressure. Russia and China present themselves as defenders of international legality even as they face allegations of violating similar principles elsewhere. Across much of the Global South, these inconsistencies have reinforced a growing belief that the rules-based order operates differently depending on whose interests are involved.

Whether entirely justified or not, this perception carries enormous geopolitical consequences. For decades, Western democracies derived moral authority from the claim that international law applied equally to allies and adversaries. As that consistency comes under question, so too does the legitimacy of the institutions they helped build. In international relations, perception often shapes reality. If accountability appears selective, states begin calculating geopolitical protection rather than legal responsibility. The implications extend well beyond the Middle East.

Military planners across the world are studying Gaza not only as a battlefield but as a precedent. They are observing how urban warfare, prolonged sieges, humanitarian access and allegations of war crimes influence international diplomacy. Armed groups are making similar calculations regarding hostage-taking, coercion and information warfare. If the political costs of violating humanitarian law continue to diminish, future conflicts are unlikely to become more restrained. They will become more brutal.

History suggests that legal norms rarely disappear overnight. They erode gradually through repeated exceptions, selective enforcement and political compromise until violations become routine rather than exceptional. Gaza risks becoming one of those defining historical moments when the erosion of norms becomes unmistakable.

Perhaps the Commission’s most profound warning concerns the next generation. Palestinian children continue to grow up amid displacement, deprivation and trauma. Israeli children inherit lives shaped by terrorism, insecurity and hardened political narratives. Every year of unresolved conflict deepens mutual distrust and normalises violence as a permanent condition. Infrastructure can eventually be rebuilt. Political trust is far harder to reconstruct.

This is why reconstruction, humanitarian aid and ceasefires, while essential, cannot by themselves secure lasting peace. The international community must confront the deeper crisis of accountability. Documentation alone is insufficient. Investigations must translate into credible legal, diplomatic and political consequences. Otherwise, reports become little more than historical archives chronicling the repeated failure of international institutions.

Major powers face an equally consequential choice. They can continue treating international law as a strategic instrument selectively invoked against adversaries while shielding allies, or they can recommit to the principle that credibility depends upon consistency. That choice will determine not only the future of the Israeli-Palestinian conflict but also the survival of the broader rules-based order.

Ultimately, the Commission’s report should be remembered not simply as another account of a tragic conflict but as a warning that the post-war international system is approaching a moment of reckoning. The central question is no longer whether violations have occurred; the evidence is overwhelming. The question is whether the world still believes that international law possesses equal authority over the powerful and the powerless alike.

If the answer increasingly becomes no, the consequences will extend far beyond Gaza. Future wars will begin not with calculations of legality but with calculations of diplomatic protection. International institutions will continue producing reports and governments will continue invoking universal values, yet each failure to translate principle into action will further weaken the foundations of the international order.

The greatest casualty of Gaza, therefore, may not be confined to its devastated cities or shattered lives. It may be the quiet death of the belief that law can still restrain power. Once that belief disappears, rebuilding it will prove far more difficult than rebuilding any city reduced to rubble. (IPA Service)

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By Satyaki Chakraborty

The U.S.-China high tech battle for supremacy has reached a new peak after the China manufactured Supercomputer LineShine was adjudged the best among the Top 500 supercomputers made by various nations including the USA, at the International Supercomputing Conference in Hamburg, Germany held on June 23.China got this top slot recognition after 2017- a gap of nine years.

The announcement by the international body has sent tremors to the U.S. high tech companies and the Pentagon. They have been mobilizing huge financial resources for manufacturing more and more technologically developed Supercomputer. US is still ahead of China in high tech war, but this latest feat of China has bridged the gap between the two super powers making Trump’s bargaining power on high tech vis a vis China more problematic. The top computer experts of USA have been assessing the arrival of Chinese LineShine and its impact on the high-tech industries.

The LineShine supercomputer has two technical features. First, LineShine was researched and developed entirely domestically and independently. Faced with years of export controls on high-end GPUs and advanced chip equipment targeting China, Chinese research teams have established a complete closed-loop process – from chip design to system integration – truly achieving self-reliance and control. That means LineShine took first place despite facing layer upon layer of restrictions.

Second, while most of today’s leading supercomputers rely heavily on GPUs, LineShine is the first supercomputer to achieve exascale performance using only CPUs, and it is approximately 20 percent faster than El Capitan, the US supercomputer that previously held the top spot. The even greater significance of LineShine reaching the top lies in the fact that it has validated the feasibility of a complete domestic technology stack, including domestically made chips, storage, interconnects, and cooling systems. Prior to this, no country had ever built the world’s top supercomputer without relying entirely on products from AMD, Intel, or NVIDIA.

According to Chinese experts, Chinese supercomputer’s return to the global top not only demonstrates the country’s increasingly robust self-reliance and control in the high-tech sector, but also offers new options and greater opportunities for global industrial development. Today, fields such as atmospheric and oceanic sciences, engineering simulation, materials science, drug discovery, brain science, scientific AI, and large language model inference all rely on powerful supercomputing support.

According to Chinese experts, for a long time, high-end computing resources have been highly concentrated in a few Western countries. Many developing nations lack the capacity to build their own supercomputing systems and can only passively accept a single source of technology and stringent access restrictions. The path China has taken in computing power provides a model for countries in the Global South – one that is free from external control and allows for autonomous innovation.

Chinese official media mentions in recent years, China’s technological innovation has advanced rapidly, with many sectors accelerating the transition from quantitative growth to qualitative breakthroughs, from the low and mid-range to the mid- and high-end, and from being followers to leaders. China’s ranking in the Global Innovation Index rose from 34th place in 2012 to 10th in 2025. China will not close the door to international cooperation because it has achieved technological leadership, nor will it abandon its commitment to independent innovation because of external restrictions.

As far as U.S. experts are concerned, they hold the view that US-China tech war has intensified dramatically since 2017, employing a full spectrum of measures from tariffs and export controls to restrictions on market access in a race for technological dominance that is reshaping the global electronics landscape. While our calculations indicate a substantial shift in US imports away from China that has cost the latter close to USD150 billion in lost exports since 2017, they also suggest that underlying, mutual interdependence remains deeply rooted in the very structure of the industry: 29% of US semiconductor manufacturing machinery exports flow to China, and US electronics imports from Mexico, Taiwan and Vietnam incorporate a great deal of Chinese value-added.

I As they see it, if the ties connecting the US and Chinese electronics industries have proven more resilient than what headline bilateral trade figures might suggest, it is largely because the US administration’s long-term drive to cut ties with China contradicts the short-term interests of corporate America and the world’s most dominant electronics companies. We estimate that over the last decade US companies alone accounted for 54% of global electronics profits, a share that balloons to 88% when including their Japanese, South Korean, and Taiwanese peers.

Meanwhile, despite surging sales and remarkable technological progress, Chinese companies only secured 7% of global industry profits and are still lagging far behind leaders in the all-strategic semiconductor segment (Chart 3). A major supplier of critical inputs, an unmatched manufacturing hub and one of the world’s largest consumer markets for electronics, China resembles more a condition for, rather than a threat to, the profitability of dominant US electronics companies.

A study released in June by the Organization for Economic Cooperation and Development found that industrial firms in China had received three to eight times as much government support over the past two decades as companies in the 38 mostly wealthy nations that belong to the O.E.C.D. In a report last month, the U.S. Chamber of Commerce and Rhodium Group argued that Chinese industrial policy was becoming more pervasive and systemic, calling the strategy an “industrial policy of everything.”

The U.S. experts argue that China’s advances are fuelled by investments in research, education and talent, policies that the United States should do more to emulate. Albert Bourla, the chief executive of Pfizer, said in March that one of Pfizer’s biggest challenges was how to tap into the “meteoric rise” of China’s scientific abilities in the midst of geopolitical tensions.

Mr. Bourla predicted that China would surpass the United States in biopharmaceutical innovation within this decade, saying the country had carried out a strategic plan over decades to reform regulations, file patents, fund research and cultivate talent. “They built their science. So this is where we need to become better,” Mr. Bourla said.

That way, the Chinese attack on U.S. supremacy in high tech areas covers not just supercomputers and electronics but also biopharmaceuticals. The U.S. multinationals are worried. The low cost production base of the Chinese companies has posed a big threat to the big U.S. firms. They have to compete on an equal footing. After the latest Supercomputer announcement, a frenzy has gripped the U.S. companies as also the Trump administration. The battle for supremacy in high tech has entered more intense and decisive phase. (IPA Service)

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The rally has been led by export-heavy names such as Gokaldas Exports, KPR Mill, Welspun Living, Trident, Indo Count Industries and Pearl Global Industries, whose earnings prospects have brightened after tariff relief in key overseas markets. The sector has drawn renewed attention at a time when broader equities have faced bouts of volatility linked to global rates, trade uncertainty and uneven consumption trends.

The immediate trigger has been a series of trade developments that have altered expectations for the industry. A trade understanding with the US reduced tariffs on a range of goods, easing pressure on apparel exporters that had been absorbing costs to protect long-standing customer relationships. The India-UK Comprehensive Economic and Trade Agreement, due to take effect on July 15, is expected to remove tariffs of up to 12 per cent on textiles and clothing shipped to Britain.

That change is significant for companies competing against Bangladesh, Vietnam, Cambodia and China in price-sensitive categories. Apparel and home textile exports operate on thin margins, and even a modest tariff difference can influence sourcing decisions by large retailers. Zero-duty access to the UK strengthens the case for shifting more orders to factories with scale, compliance records and established relationships with global buyers.

Gokaldas Exports has become a focal point for the trade. The Bengaluru-based apparel exporter manufactures about 90 million garments a year and earns a large share of revenue from the US, while also serving markets such as Canada, the UK and France. Its customer base includes major retailers, making it one of the more direct beneficiaries of improved tariff conditions. The company’s fiscal 2025 revenue stood at about ₹38.64 billion, and management has indicated scope for margins to move into double digits as the benefit of lower duties flows through.

Welspun Living, one of the world’s largest home textile manufacturers, is another major beneficiary of the shift. Its presence in towels, sheets, rugs and other home products gives it exposure to large-format retail demand in North America and Europe. The company has also invested in traceability, sustainable cotton sourcing and branded offerings, areas increasingly monitored by overseas buyers under stricter compliance and environmental standards.

KPR Mill, with its integrated operations across yarn, fabric, garments and sugar, has attracted investor interest because of its operating scale and relatively strong balance sheet. Pearl Global Industries and Indo Count Industries have also gained attention as investors look beyond the most visible exporters to companies with capacity expansion plans, customer diversification and scope to improve utilisation.

The rally has not been confined to a single trade event. Textile counters moved sharply in February after the US tariff relief, again after clarity on the UK agreement, and then attracted further institutional interest as brokerages initiated coverage on several sector names. Some reports have projected potential upside of more than 40 per cent in select stocks, though the bullish view is not uniform. More conservative calls on parts of the sector reflect concerns over valuations, cotton prices, wage inflation and execution risks.

The optimism also comes after a difficult period. Higher US tariffs had squeezed exporters, forcing some companies to absorb costs or offer discounts. Global retailers delayed shipments in parts of fiscal 2025 as tariff uncertainty disrupted ordering cycles. Demand in discretionary categories such as home textiles has been uneven, especially in the US, where retailers worked through excess inventory after the pandemic-era surge.

That makes the latest rally a test of whether tariff gains can translate into sustained earnings growth. Investors are looking for evidence of higher order books, improved realisations and better plant utilisation over the next two to four quarters. Margin expansion will depend not only on lower duties but also on raw material prices, currency movement, freight costs and the ability of exporters to negotiate better terms with buyers.

The rupee’s movement will also be important. A weaker rupee generally supports exporters, but higher imported input costs can dilute the advantage. Cotton price volatility remains another risk, particularly for companies that cannot pass on cost increases quickly. Compliance spending, labour availability and delivery timelines will influence whether larger buyers shift orders at scale.

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The company, led by co-founder and chief executive Ankush Sachdeva, is expected to seek public market capital after tightening costs, narrowing operating losses and pushing harder into advertising, live-streaming and subscription-driven entertainment. The proposed listing would test investor appetite for a local-language social media business that has repositioned itself from a high-burn growth platform into a more disciplined digital entertainment group.

Mohalla Tech’s IPO plans come at a point when technology companies are being judged less on user growth alone and more on cash flow, margins and the durability of revenue. ShareChat was valued at about $5 billion during the venture funding boom of 2022, when large investors including Google, Temasek, Lightspeed and Times Group backed the company. Its valuation came under pressure as the start-up funding environment tightened, forcing the firm to raise convertible debt and cut costs.

ShareChat operates as a social network focused on users in non-English language markets, while Moj competes in the short-video segment. QuickTV, a subscription-led micro-drama app, is part of the company’s attempt to build paid entertainment formats alongside advertising-led services. The group is seeking to show that a platform built around regional content can generate more predictable income from a mix of brands, creators and paying users.

The company’s turnaround has been built around a sharp reduction in losses. Its adjusted Ebitda loss for FY25 fell to about ₹219 crore from ₹793 crore a year earlier, helped by lower marketing spend, headcount reductions and tighter control over creator and technology costs. Revenue is expected to rise further in FY26, with management targeting stronger contributions from advertising, live services and short-form drama subscriptions.

Mohalla Tech’s challenge is that scale has not yet translated into the kind of profitability public investors typically demand. Social media and short-video businesses need sustained spending on content moderation, creator incentives, product development and cloud infrastructure. Advertising demand can also shift quickly, especially when large platforms such as Meta, Google and YouTube continue to dominate brand budgets.

The company has sought to distinguish itself by focusing on language diversity and community-led engagement. ShareChat is available across more than 15 languages and has built a large audience outside the metro-focused English internet market. Its Google Play listing shows more than 500 million downloads for the ShareChat app, while Moj has emerged as a major short-video platform after the 2020 ban on TikTok created room for local alternatives.

That opportunity also brought intense competition. Moj, Josh, YouTube Shorts and Instagram Reels all chased the same creator and viewer base, triggering high spending on influencers, content discovery and user acquisition. Mohalla Tech expanded through acquisition, including the purchase of MX TakaTak, but later shifted to consolidation as the funding environment changed and investors pressed for cleaner unit economics.

The company’s management has already gone through a period of transition. Sachdeva remains the public face of the business, while co-founders Bhanu Pratap Singh and Farid Ahsan stepped back from operating roles in 2023. The firm also implemented multiple rounds of layoffs, including deep reductions in 2023, as it moved away from expansion at any cost.

An IPO would give early backers a potential path to liquidity, though the final size, timing and valuation will depend on market conditions, revenue momentum and profitability milestones. A $400 million issue would be significant for a consumer internet company whose fortunes have mirrored the wider cycle in start-up funding: rapid capital inflows, aggressive expansion, a valuation reset and a pivot towards financial discipline.

The listing plan also comes as equity markets have shown selective support for digital businesses that can demonstrate clear paths to profit. Investors have rewarded companies that cut burn and improved governance, while punishing firms with weak disclosure, unclear revenue models or stretched valuations. Mohalla Tech will have to convince public shareholders that its audience base can support sustainable revenue without a return to heavy promotional spending.

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By K Raveendran

The arithmetic of India’s fuel market has long been sold as market-driven, but the latest price movements expose a more selective discipline. When crude oil rises, the pass-through to consumers and businesses is quick, stern and explained as unavoidable. When the same crude oil retreats, the adjustment becomes cautious, partial and wrapped in administrative silence.

The cut in commercial LPG prices from July 1 is being presented as relief for restaurants, hotels, caterers and small food businesses. A 19-kg commercial cylinder has been reduced by ₹183.50, taking the Delhi price to ₹2,930. The figure looks substantial in isolation, but it comes after a period in which oil and gas prices had hardened sharply on fears of supply disruption in West Asia. The same international conditions that were invoked to justify the rise have now eased materially, yet the scale of the reduction does not fully reflect the reversal in global petroleum prices. That asymmetry is the real story.

The price cycle has once again followed a familiar pattern. Consumers are asked to accept increases as the natural consequence of a volatile global market, but reductions arrive as if they were concessions. This is not a technical quibble. Fuel pricing has a direct bearing on transport costs, food inflation, household budgets, restaurant margins, small vendors, and the cost structure of almost every traded good. A slow or incomplete fall in petroleum prices keeps inflationary pressure embedded even after the original shock has faded.

The latest global context makes the hesitation harder to defend. Crude prices surged during the West Asia crisis as markets priced in the possibility of supply disruption around the Strait of Hormuz. Once the immediate danger receded and tanker movement normalised, oil prices fell back towards pre-war levels. Brent crude, which had climbed during the crisis, dropped sharply as the geopolitical premium unwound. The market did what markets do: it repriced risk. Indian fuel pricing, however, has not shown the same elasticity on the way down.

The contrast with Nayara Energy is revealing. The private refiner and fuel retailer moved to reduce petrol and diesel prices at its pumps, cutting petrol by ₹5 a litre and diesel by ₹3 a litre as global crude softened. Nayara operates a smaller retail network than the public sector oil marketing companies, but the significance of its move lies less in its market share than in the signal it sends. If a private company can restore prices closer to pre-war levels, it becomes difficult to argue that public sector companies are powerless before international volatility.

The public sector oil marketing companies remain the dominant players in India’s fuel retail market, and their pricing behaviour matters far beyond their balance sheets. They shape the benchmark for the entire economy. When they hold petrol and diesel prices steady after crude falls, the benefit of lower import costs is retained within the system rather than transmitted to households and businesses. This may improve margins, repair past losses or create fiscal comfort, but it weakens the claim that retail fuel prices are a clean reflection of market forces.

There is, of course, a legitimate argument that public sector oil companies must avoid abrupt swings and manage inventory costs, refinery economics, currency movements and tax structures. India imports most of its crude oil, and the rupee-dollar exchange rate can dilute the effect of a fall in headline crude prices. Oil companies also argue that they often absorb losses during politically sensitive periods or when global prices rise too quickly. These are not frivolous points. A country of India’s size cannot run fuel pricing as a daily emotional reaction to every market tick.

But that argument cuts both ways. If consumers are made to bear increases swiftly in the name of market discipline, they are entitled to expect similar discipline when prices decline. A smoothing mechanism that only smooths reductions while accelerating increases is not market pricing. It is administered pricing with market language. That distinction matters because public trust erodes when the rules appear to change depending on who benefits.

Commercial LPG illustrates the problem in miniature. The monthly revision system creates an impression of regular price discovery, but the pass-through remains selective. Businesses that rely on LPG rarely have the pricing power to adjust menus, service rates or supply contracts every time fuel inputs rise. Many absorb the increase, some pass it on, and others cut corners. When prices fall only partially, the earlier inflation does not fully reverse. The consumer may not see the relief in restaurant bills, street food prices or small service costs because the upstream reduction is too modest relative to the earlier shock.

Domestic LPG is an even more politically sensitive area, and here the silence is more pronounced. Household cylinder prices are typically managed with greater caution because of their direct link to voter sentiment and welfare commitments. But commercial LPG is not outside the inflation chain. A commercial cylinder used by eateries, small manufacturers, bakeries and service providers affects the final price of goods consumed by ordinary households. Treating the commercial cut as a sectoral adjustment misses its wider economic meaning.

Petrol and diesel are even more important because they are the arteries of the economy. Diesel powers freight, agriculture, public transport and logistics. Petrol affects personal mobility and urban consumption. When diesel prices remain sticky despite a fall in crude, the cost of moving vegetables, grains, milk, construction material and manufactured goods remains elevated. This stickiness has a multiplier effect. It allows an energy shock to linger in the economy long after the original international trigger has weakened.

The government’s own actions show that it recognises the changed global situation. Restrictions on the sale of petrol and diesel imposed during the Middle East disruption have been lifted from July 1. Export duty adjustments have also been made in response to easing global prices and changing supply conditions. These moves show that the state is reading the global oil market actively. The question, then, is why the retail consumer does not receive a fuller benefit when the same market turns favourable.

The deeper issue is political economy, not petroleum chemistry. Fuel pricing involves consideration of several factors such as company margins, government revenue, inflation management and electoral calculation. Excise duties, value-added taxes, dealer commissions and company margins all sit inside the final retail price. When crude falls, governments and companies face a temptation: let consumers benefit, or retain the cushion. Too often, the cushion wins.

This is why the phrase “market forces” rings hollow. If public sector oil companies are commercial entities, they must respond commercially both ways. If they are instruments of public policy, then the government should say so clearly and explain the formula by which consumers are protected or burdened. What cannot be sustained indefinitely is the fiction that consumers are paying a market price when downward market movement is filtered through opaque discretion. For the hospitality and small business sector, the LPG cut will help, but only at the margin. Commercial users have faced a sequence of cost pressures: rent, wages, electricity, transport, food inputs and borrowing costs. A sharper fuel correction would have supported margins without requiring government subsidies. Instead, a partial cut keeps businesses in a holding pattern. They receive enough relief for a headline, but not enough to reset operating costs meaningfully. (IPA Service)

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By Nitya Chakraborty

The joint statement of the Chinese President Xi Jinping and the Bangladesh Prime Minister Tarique Rahman issued in Beijing on June 26 following the visit of Tarique to China has drawn the attention of the global diplomatic circles due to the sweep of the nature of collaboration between the two countries mentioned in the statement.

For India, the most important part is the detailed outline of the cooperation for the development of Teesta river project and the defence cooperation. New Delhi officially has not reacted to the statement but some non-official sources have expressed their anxiety at the massive Chinese participation in Teesta river project in some areas which have relevance for India. Teesta flows in India and then goes to Bangladesh. India have long relationship with Bangladesh on the handling of Teesta waters. So India has a stake in any development concerning this project.

Perhaps, China is aware of such apprehensions in India. So the Chinese spokesperson said in Beijing on Friday in the press briefing that Teesta Cooperation agreement was not targeted against any third country, meaning India. But the more important reaction was in Dhaka on Monday from the Prime Minister Tarique Rahman when he said that the implementation of Teesta Barrage Master Plan is a national priority and it would be implemented at any cost. It is apparent that the comment was meant for India.

It is quite likely that the Indian officials have been assessing the in depth implications of the Teesta River Comprehensive Management and Restoration Project (TRCMRP). Since this involves lot of areas including dredging, river training, flood control, building of embankments and advanced technologies of water management, Indian experts have been analyzing whether Indian side of Teesta river has any consequences due to the implementation of this project on their side. India is expected to take up with Bangladesh some issues if those are of common interest.

Let us be frank about the Indian dilemma. India have lost the opportunity of being a partner of Teesta project due to the myopic view which the Narendra Modi government too in 2024 and 2025 during the interim Yunus regime in Bangladesh. PM could have met Dr. Muhammad Yunus to take forward this partnership as it had already got the consent of the earlier PM Sheikh Hasina and lot of discussions were held. This was the most important bilateral project. So India should have shown more interest to talk on this issue of common interest despite sharp political differences.

Even after the installation of Tarique government in February 2026, Indian government could have shown special interest as Tarique government was going ahead with some priority programmes. If India had shown more friendly attitude to Tarique government in the initial period Tarique Rahman might have chosen India for his first visit as PM. In diplomacy, time matters and optics also. China offered red carpet to the Bangladesh Prime Minister. Bangladesh badly needed funds as also industrial programmes to create new job opportunities. China offered that. The relationship was catapulted to a new strategic level.

It is true that after the China visit, the foreign office in Dhaka is upbeat saying that China has agreed to be by the side of Bangladesh, come what may. But at the same time, the foreign policy planners are saying that Bangladesh have not put all eggs in Chinese basket. For the Tarique government-Bangladesh is first priority. Who is helpful to Bangladesh prosperity will be welcomed, it can be India or the United States.

India have to approach Prime Minister Tarique Rahman with open mind. Tarique has every right to sign agreement with any country based on the country’s interests just like India. Indian side should renew the invitation to the Bangladesh PM to visit India soon and follow up this so that PM accepts. Just requesting the PM to visit India after taking oath, is not enough. It has to be pursued. Chinese ambassador in Dhaka did that. China was constantly in touch with Bangladesh PM and then he agreed.

Bangladesh sources say that China is among Bangladesh’s most important partners in the sphere of economic development. It has invested heavily in infrastructure construction in Bangladesh and plays an important role as a source of investment and manufacturing capacity. As Bangladesh prepares to graduate from the Least Developed Country (LDC) status, China will be an important partner in industrial relocation, renewable energy, digitalisation, and logistics. Bangladesh government need to generate new jobs for the youth. China’s proposal for setting up industrial clusters in districts, is suitable for Bangladesh in generating jobs at a faster pace.

But at the same time, the official position is that Bangladesh is ready to equally welcome India and its offer for assistance in the industrialization of Bangladesh. India-Bangladesh partnership should be helpful to Bangladesh for creating strategic opportunities. India should treat Bangladesh on equal footing. Bangladesh is assertive about its strategic autonomy. This is true in case of China also.

Bangladesh experts also feel that India will remain Bangladesh’s indispensable neighbour whose cooperation is strongly needed for connectivity, water, energy and regional security requirements. India can also help Bangladesh in digital development. That’s the call to India and New Delhi has to respond in an appropriate manner. (IPA Service)

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The measures announced on Monday add 20 entities to a restricted export list and place another 20 on a watch list, tightening Beijing’s scrutiny of Chinese-origin goods, software and technology that can be used for both civilian and military purposes. The curbs take effect immediately and require prior approval before controlled items can be supplied to the named entities.

The restricted list includes Japan’s National Institute for Defense Studies, six subsidiaries of Mitsubishi Heavy Industries, four units of Mitsubishi Electric and two subsidiaries of Kawasaki Heavy Industries. The watch list includes entities linked to Mitsui E&S, Fujitsu and Komatsu, among others, requiring exporters to provide risk assessments and written assurances that goods will not be used to strengthen Japan’s military capabilities.

Beijing framed the move as a response to what it described as Japan’s “remilitarisation” and nuclear ambitions, arguing that the controls were lawful and limited to a small group of organisations. It said normal trade between the two economies would not be affected, while warning that applications involving military users, military purposes or activities that could enhance Japan’s defence capability would not be approved.

Tokyo lodged a formal protest and demanded that the measures be withdrawn. Chief Cabinet Secretary Minoru Kihara described the curbs as “absolutely unacceptable and extremely regrettable” and said the government would assess the likely impact before considering further action. Defence-related companies named in the measures began reviewing the announcement, though immediate operational effects were not clear.

The dispute has sharpened since late last year, when Takaichi suggested that a Chinese attack on Taiwan could become a situation affecting Japan’s survival and potentially require a security response. Beijing treated the remarks as a direct challenge to its Taiwan position. China regards Taiwan as part of its territory and has not ruled out the use of force to bring the island under its control.

Japan has been expanding its defence posture, including long-range strike capabilities and missile deployments on remote islands. The Ground Self-Defense Force said on Monday that it had deployed a Type-12 missile launcher on Minamitorishima, the country’s easternmost island, a step viewed as part of Tokyo’s effort to strengthen deterrence across the western Pacific. Japan is also preparing revisions to security documents by December, raising expectations of further defence spending commitments.

The latest export action follows a similar round in February, when Beijing placed 20 entities on a restricted list and 20 others on a watch list. That earlier package targeted companies and organisations Beijing accused of supporting Japan’s military build-up. The new move indicates that China is willing to use its control over strategic industrial inputs as a pressure tool in disputes that combine security, trade and diplomacy.

Dual-use controls have become a central instrument in the wider competition over defence technology, semiconductors, advanced manufacturing and critical minerals. China dominates several supply chains for rare earths and other inputs used in magnets, motors, batteries, robotics, precision equipment and defence systems. Even where alternative suppliers exist, delays in licensing or verification can disrupt procurement schedules and raise costs for companies dependent on Chinese-origin materials or components.

For Japan, the immediate risk is not a broad trade breakdown but growing uncertainty for firms with defence, aerospace, shipbuilding, electronics and high-end machinery exposure. Mitsubishi Heavy Industries is Japan’s largest defence contractor and has roles in naval vessels, missiles and aerospace systems. Mitsubishi Electric supplies radar, missile and space-related systems, while Kawasaki Heavy Industries is involved in aircraft, submarines and other advanced platforms.

The watch-list mechanism adds a second layer of pressure because it does not impose an outright ban but makes transactions more burdensome. Exporters seeking licences must satisfy stricter end-user and end-use checks, a process that can deter suppliers even before formal denial. Compliance teams are likely to review contracts, supply routes and exposure to Chinese-origin controlled items.

The confrontation also comes as Japan deepens security cooperation with the United States and other partners. Tokyo has strengthened defence ties with the Philippines, Australia and European powers, while expanding discussions on maritime security in waters around Taiwan and the East China Sea. Beijing has criticised those moves as part of a broader containment strategy.

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By Nantoo Banerjee

West Bengal’s first ever Bharatiya Janata Party (BJP) government’s resolve to rebuild the state to its “old glory” sounds good though reversing decades of economic stagnation and industrial decline remains an incredibly difficult challenge. Economically, West Bengal’s rank among Indian states has dropped from No.1 till the mid-1960s to below 10 now. Currently, even the 10th ranked Haryana counts more than 10,389 operating registered factories, serving as a major automotive, auto-component, and consumer goods manufacturing hub. Official statistics from the annual survey of industries indicate that West Bengal has only around 6,100 factories operating actively at any given time. Factory jobs are shrinking in traditional sectors. A severe talent paradox exists. Localized manufacturing in light engineering, food processing, and specialized textiles is actually facing massive mid-level technical vacancies.

Gone are the days when West Bengal was the country’s topmost Industrial state during the 1950s and partly through the mid-1960s. The decline started within three years of the death of Dr. Bidhan Chandra Roy, the state’s best performing chief minister. In the 1950s, Bengal accounted for nearly a quarter of the entire country’s industrial output. By the mid-1970s, the state was overtaken by Maharashtra. The Naxalite movement, Marxist-sponsored militant trade unionism, anti-MNC attitude of the Left parties, led by CPM, constant centre-state political clash, and frequent strikes led to production bottlenecks, forcing industrial houses to quit Bengal. More than three decades of Left rule (1977-2011), followed by 15 years of the Trinamool Congress (TMC) regime, triggered a continuous industrial decline of the state. Historically, the period between 1980 and 1981 was known as the “Death Cross” for the state, as its relative income dropped below the national average for the first time.

By 1991, Bengal accounted for over 40 percent of India’s lockout-related lost working days. As a result, large industrial giants and private capital relocated to states like Maharashtra, Gujarat, and Tamil Nadu. This shift from a manufacturing leader to an economic laggard was driven by several interconnected factors. Efforts to reverse the trend in the 2000s, such as the Tata Nano project in Singur, faced intense political opposition from TMC, further deterring large-scale manufacturing investments. Today, the state’s share of national industrial output has shrunk to around 3.5 percent. Although there have been some localized initiatives — such as developments in the Kharagpur industrial park or the Bantola leather complex — the state’s structural manufacturing and economic base remains heavily eroded compared to its 1950-60 peak.

During prolonged tenure of the Left and TMC rule, the state’s industrial scene was mostly controlled by a group of local businessmen in their own business interest. The latter discouraged outside investors, depicting an alarming political picture of the state, in national forums. Those local businessmen projected themselves as best well-wishers of the state government – first, the Left Front, and then TMC – for squeezing incentives for their survival and growth. Bengal experienced a severe and prolonged structural decline. This shift from a manufacturing leader to an economic laggard was driven by several interconnected factors. Today, the state features only some 200 industrial and economic parks driving manufacturing, with operations centred just around four industrial belts.

Among the states which have industrially overtaken Bengal over the years are: Tamil Nadu, Gujarat, Maharashtra, Uttar Pradesh, Andhra Pradesh, Karnataka, Telangana, Punjab and Rajasthan. Today, Tamil Nadu leads India with over 40,100 factories and employs the largest number of industrial workers. The state is a powerhouse for textiles, automobiles, and electronic hardware. Gujarat is home to over 33,300 factories. It is heavily dominated by petrochemicals, heavy manufacturing, pharmaceuticals, and trade networks utilizing major ports. Maharashtra, the country’s wealthiest state by GDP, hosts over 26,500 factories. It is the premier hub for engineering goods, pharmaceuticals, and chemicals. UP has over 22,100 registered factories. Key sectors include agro-processing, heavy machinery, and defence manufacturing. Andhra Pradesh boasts over 16,000 factories. It thrives on pharmaceutical, food processing, and textile manufacturing. Karnataka hosts roughly 15,000 factories. Beyond IT and biotechnology, it is a leading hub for aerospace and heavy machinery.

West Bengal’s first BJP government will have to work really hard to attract large industrial investments in the state under the current national industrial backdrop. The automobile industry is known as the engine of growth all over the world. The state, which once housed the country’s biggest automobile production outfit and tyre manufacturing unit, must try to bring at least one national or multinational vehicle manufacturing company to set up a production unit. That will quickly change the industrial environment in Bengal. The existing industrial complexes in the Kolkata-Howrah region, the Durgapur-Asansol-Burnpur belt and Kharagpur must be helped and encouraged to grow fast. While most industrial outfits in the Kolkata-Howrah region focus on engineering, metal and alloy industries, leather products (Bantala), and garments, the industrial belt covering Haldia and East Midnapur houses petrochemical plants, oil refineries, and chemical/fertilizer manufacturing. The Durgapur-Burnpur belt is traditionally known for heavy machinery production, coal-bed methane exploration, and large-scale iron and steel production.

Thanks to large manufacturing investments by the Tata group, Kharagpur has quietly emerged as a rapidly growing hub for multi-product manufacturing, wagon plants, and food processing. The Tata Hitachi Construction Machinery Company operates on a 250-acre parcel in the Vidyasagar Industrial Park. This is one of their largest and most successful new generation manufacturing facilities in the country. It produces a wide range of excavators and heavy construction equipment. Tata Metaliks, a Tata Steel subsidiary, has a large plant at Kharagpur, manufacturing pig iron and ductile iron pipes. The site recently underwent a Rs. 600 crore expansion programme to scale up its production capacity.

The BJP government’s first budget, presented by Finance Minister Swapan Dasgupta, heavily prioritizes bringing back industries and businesses that had previously migrated to Northern and Western India. The ‘Revive Bengal Plan’ involves a Rs.5,000 crore makeover aimed at infrastructure development, logistics connectivity, and job creation to reverse past trends of de-industrialization and attract global companies. It is a major challenge before the state government. Rebuilding the industry takes time. With the national government by its side, the state must work fast to respond to the public expectation and demand. Fortunately, Chief Minister Shubhendu Adhikari’s council of ministers seems to be working in unison and collaborating toward a shared objective to make the state great again. (IPA Service)

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The incidents triggered new US strikes on Iranian military targets and prompted fresh accusations from both sides that the other had breached the interim understanding. Bahrain said its territory had been targeted by an Iranian drone attack, while maritime authorities reported that a tanker in the strait was damaged after being struck by an unidentified projectile. The crew was reported safe.

The vessel was identified as the Panama-flagged M/T Kiku, a tanker carrying about 2 million barrels of crude. The strike hit the bridge area, the ship’s command centre, according to maritime security information circulated after the incident. There was no immediate public claim of responsibility, but Washington blamed Iran and said the attack followed an earlier strike on the Singapore-flagged M/V Ever Lovely near the Omani side of the strait.

US forces launched another round of attacks on Iranian military infrastructure, including surveillance systems, drone facilities, air defence sites and assets linked to maritime operations. The strikes followed a similar operation targeting missile and drone storage facilities and coastal radar installations after the earlier attack on the Ever Lovely.

Tehran rejected Washington’s version of events and said it had acted in response to US violations of the ceasefire. Iran’s Revolutionary Guard said it had struck US-linked military targets in the Gulf, including sites associated with American forces. Bahrain and Kuwait condemned the attacks, saying they threatened regional security and civilian safety.

The escalation has exposed the weakness of the interim arrangement reached after weeks of conflict disrupted shipping, lifted insurance costs and forced emergency planning across Gulf capitals. The understanding was meant to create a 60-day window for talks on maritime security, Iran’s nuclear programme and the wider regional confrontation involving Israel, Lebanon and Iran-aligned groups.

The Strait of Hormuz remains the central flashpoint. Roughly a fifth of global oil shipments move through the narrow waterway between Iran and Oman, making any disruption a direct threat to energy markets. Iran has insisted that vessels using certain lanes must comply with its security instructions, while Washington has rejected any move to impose control or fees over international shipping routes.

Shipping traffic through the strait has slowed as operators assess the danger to commercial vessels. Maritime security advisories have warned of a substantial threat level, citing attacks on merchant ships and the risk of mines or drones. The International Maritime Organization paused evacuation operations for vessels stranded by the earlier fighting after one ship was hit.

Oil markets have so far avoided a severe price shock, but traders remain alert to any sustained closure or wider conflict. Brent crude had eased before the latest flare-up as hopes of a diplomatic track grew, though analysts say even limited attacks on tankers can quickly raise freight rates, war-risk premiums and delivery costs.

President Donald Trump warned that Washington could take further military action if Iran continued attacks on shipping or US-linked targets. Vice President JD Vance said Tehran had to honour the ceasefire and resolve disputes through diplomacy rather than force. Iran, for its part, said it would defend its sovereignty and respond to attacks on its territory or regional interests.

The tension comes as Gulf states try to prevent the confrontation from spilling deeper into their territory. Bahrain hosts the US Navy’s Fifth Fleet and has long been sensitive to any direct Iranian pressure. Kuwait also reported security concerns after Iran’s claimed retaliation, while other Gulf governments have urged restraint and protection of shipping lanes.

The ceasefire was already under strain before Saturday’s attacks. Washington accused Iran of violating the deal by targeting the Ever Lovely after Tehran warned vessels against transiting without permission. Tehran accused the US of using the ceasefire to reposition forces and maintain pressure near Iranian waters.

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By K Raveendran

India’s decision to initiate an anti-dumping investigation into cheap steel imports marks more than another defensive trade action. It is a reminder that globalisation, which New Delhi has often invoked when Indian exports face barriers abroad, becomes far more complicated when the pressure arrives at home. The steel case has exposed the contradiction that sits at the heart of every large economy’s trade policy: open markets are desirable when they expand one’s reach, but politically and economically painful when they threaten strategic domestic capacity.

The investigation into steel imports from China, Japan and Russia comes at a time when Indian producers are facing a sharp squeeze from low-priced shipments, particularly from China. Finished steel from China has entered the Indian market at prices domestic mills say are difficult to match. China has emerged as India’s largest supplier of finished steel, deepening concern in an industry that is capital-intensive, employment-generating and central to infrastructure, construction, automobiles, engineering and defence manufacturing. For India, steel is not a marginal commodity. It is an industrial backbone.

The irony is difficult to miss. India has frequently protested when other countries restrict Indian goods, whether through tariffs, standards, quotas or anti-dumping measures. Its exporters have often argued that such actions are protectionist, unfair or politically motivated. Yet New Delhi is now using the same trade remedy framework to shield domestic producers from imports it says may be entering at unfairly low prices. This does not make India hypocritical in any unusual sense. It makes India a normal state in a world where national interest routinely outranks free-trade theory.

The language of globalisation has always promised mutual benefit. Markets would open, efficiencies would rise, consumers would get cheaper goods and producers would find new buyers. India has gained substantially from that order. Pharmaceuticals, information technology services, automotive components, textiles, chemicals and engineering goods have all benefited from access to foreign markets. Foreign competition has also forced parts of Indian industry to modernise and improve quality. But the steel dispute underlines the other side of the bargain. When foreign producers, backed by scale, state support, cheaper finance or excess capacity, flood a market, the impact is not limited to price. It can reshape the industrial base of the importing country.

Domestic steelmakers operate under burdens that are not always visible in the final price of a tonne of steel. They must invest heavily in plants, mines, logistics, environmental compliance, power, technology and labour. The business requires long investment cycles and carries large debt exposure. Freight costs, land acquisition challenges, raw material linkages, regulatory delays and expensive capital all affect competitiveness. A company cannot shut and restart a blast furnace with the ease of a trading firm switching supply sources. Once capacity is damaged, revival is slow and expensive.

This is why the issue cannot be reduced to the narrow argument that cheaper imports benefit consumers. They do, at least in the immediate term. Builders, fabricators, small manufacturers and downstream users welcome lower input costs. Infrastructure projects may gain from cheaper material. Inflationary pressure may ease. But if low prices are the result of dumping or surplus disposal rather than genuine efficiency, the short-term gain can come at the cost of long-term dependence. A country that allows core industrial sectors to weaken may later discover that the market does not remain cheap when domestic alternatives have vanished.

China’s role is central to the debate because its steel industry is not merely large; it is structurally capable of influencing global prices. When domestic demand weakens in China, excess steel seeks external markets. Countries across regions have then faced similar anxieties: local mills complain of price suppression, governments weigh tariffs, and importers warn against higher costs. India is not alone in confronting this pressure. The wider world has moved towards a more guarded trade posture, particularly in industries linked to strategic capacity, jobs and infrastructure.

The Indian case is made sharper by the country’s own industrial ambitions. The government wants India to become a manufacturing hub, expand infrastructure, build domestic supply chains and reduce dependence in key sectors. Those objectives cannot coexist easily with unlimited exposure to underpriced imports. The “Make in India” aspiration requires domestic firms to invest at scale. But investment becomes harder when producers fear that imported material can undercut them during every downturn. No boardroom will commit billions to new capacity if policy signals suggest that the market can be overwhelmed by dumped goods at critical moments.

At the same time, protection cannot become a substitute for competitiveness. This is the central balance New Delhi must strike. Trade remedies are legitimate when imports are unfairly priced and causing injury. They are dangerous when they become permanent shelter for inefficiency. Indian steel companies must not use anti-dumping duties as a shield against productivity improvement, technological upgrades or cost discipline. Consumers and downstream industries should not be made to carry inflated prices simply because upstream producers have political influence. Industrial policy must protect capacity, not complacency.

The government’s challenge, therefore, is to distinguish between strategic defence and routine protectionism. An anti-dumping investigation is an evidence-based process. It must examine pricing, injury, market share, cost structures and the behaviour of exporters. If dumping is established, duties may be justified. If the problem is merely that foreign producers are more efficient, the case for intervention becomes weaker. The credibility of India’s trade policy depends on this distinction. A country that seeks access to global markets for its own exporters cannot appear casual in restricting imports when domestic lobbies complain.

There is also a diplomatic dimension. India’s economic relationship with China is already shaped by distrust, border tensions and trade imbalance. Steel imports add another layer to a relationship in which India depends heavily on Chinese industrial goods while trying to reduce strategic vulnerabilities. Action against Chinese steel will be viewed through that broader lens, even if the investigation also covers other countries. New Delhi will have to show that the measure is based on trade law rather than geopolitical signalling. That is essential because India’s own exporters may face scrutiny abroad under the same rules.

The steel dispute also exposes a larger shift in the world economy. The era when globalisation was treated as an unquestioned good has passed. Supply shocks, pandemics, wars, sanctions, energy volatility and strategic rivalry have forced governments to rethink dependence. Free trade is no longer judged only by consumer price. It is judged by resilience, employment, national security and the ability to maintain essential industrial capacity. The steel industry sits exactly at that intersection.

For India, the lesson is not to abandon globalisation but to approach it without illusion. Open markets helped India integrate with the world, but openness without safeguards can create vulnerabilities. Trade policy must be pragmatic, not sermonising. When Indian goods face arbitrary restrictions abroad, New Delhi is right to object. When Indian industry faces unfairly priced imports at home, it is equally entitled to act. There is no contradiction if both positions rest on rules and evidence. The contradiction arises only when free trade is invoked as morality abroad and protection is practised as entitlement at home. (IPA Service)

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By Sobhanlal Datta Gupta

The Eighteenth West Bengal Legislative Assembly which was formed in the wake of the poll results in 2026 has catapulted the BJP into power on a scale which is unprecedented, but not totally unsurprising. It has been a verdict by default, a furious act of political revenge against years of misrule, violence, fear and corruption. A structure that was built up at the behest of the TMC supremo, completely devoid of transparency, and bolstered by a crude culture of sycophancy, led to an all-pervasive alienation of the party from the masses. This is manifest in the complete collapse and fragmentation of the TMC in a month’s time and the drama that is unfolding in West Bengal almost every day has made it an object of ridicule and disdain in the eyes of the common man.

While for the saffron brigade the West Bengal verdict is certainly a shot in the arm, what signal has it sent to the Left, which is its bête noire? For the Left the implications are three-fold. One: the ouster and the virtual evaporation of the TMC has opened up an unprecedented opportunity for the Left to create a space of its own. It goes without saying that in the preceding years the TMC supremo targeted the Left as its sworn enemy and was hell-bent to decimate it. Now that this hurdle is gone and the so-called opposition, following the split in the TMC, is virtually acting as the B-team of BJP, the Left now would be in a position to project itself as the only viable and meaningful alternative to the saffron brigade. Rallies are being staged, party offices are being unlocked and the presence of the Left in public life is being increasingly felt.

Two: while the erasure of a virtually lumpen outfit like the TMC has been a big relief, the coming to power of the BJP with such a thumping majority, however, does not at all augur well for the Left. It may be presumed that, while in the given conditions of constitutional democracy BJP will be constrained not to unleash open repression on the Left, the Left too must respond by adopting two rather different strategies. First, it has to play the role of a constructive opposition instead of simply castigating the new government as reactionary, fascist, etc, because it must remember that BJP has come to power with a massive popular mandate.

The Left should utilize this opportunity by placing before the Government alternative blueprints of development which would take into account the interests of the common man, the underprivileged and the downtrodden. It should tell the Government that the Left demands appropriate steps to be taken, cutting across party lines, against all those who were engaged in repression of those who opposed the TMC. This would immediately send the message that the Left does not believe in any sectarian understanding of the victims of repression.

The Left should also draw the attention of the Government to the ugly practice of publicly parading the persons implicated in corruption charges and throwing rotten eggs and tomatoes towards them and demand stern measures against the perpetrators of such acts. The other strategy refers to the condemnation of any step taken by the government which makes discriminatory treatment of the minorities, indulges in history writing by erasure of Islam from syllabus, unleashes bulldozer against hawkers without rehabilitation, promotes the agenda of Hindutva. To be more precise, any kind of assault on the democratic rights of the people, the poor, the underdogs, must be questioned.

Three: The Left has to understand that it has failed to arrest the BJP’s strategy of mobilization of Hindu votes, which the BJP could do by instilling in the psyche of the Bengali Hindus a sense of deep insecurity posed by the so-called growth of Muslim population in West Bengal , a threat across the Bangladesh border as a result of easy entry of infiltrators and TMC’s populist strategy of appeasement of minorities for the sake of conserving the Muslim vote bank. The most disturbing issue concerning the Left is that the verdict in favour of the BJP was a mix up of anti-TMC plus pro-Hindu vote. Since It is very difficult to segregate the two, it will remain a perennial problem for the Left to detect the extent of influence of the Hindutva factor on the electorate.

This being the scenario, it is high time that the Left in West Bengal has to reinvent itself by addressing issues which have been traditionally neglected by them. This refers to the challenge of cultural nationalism, espoused by the BJP. The West Bengal Left has for decades nurtured the feeling with complacence that the so-called Hindu Bengali is culturally oriented towards secularism, that the Hindu Bengali psyche is relatively free from the virus of communalism. This is an exercise in self-deception.

The great cultural legacy of Bengal notwithstanding, we Bengalis are not aware of the fact that there is a deep undercurrent of religious intolerance in our blood, which comes out in the open at specific historical moments. We have never been comfortable with the Muslims, have shown no interest in learning from the rich legacy of Islam and no effort was made during the three decades of Left Front regime to promote an appropriate cultural agenda which would foster the spirit of secularism among us. BJP has made full use of it by taking advantage of our own ignorance.

Consequently, the Left has to take up a two-fold challenge on the cultural front. First, it has to systematically undertake the campaign that the BJP’s strategy of misappropriation of the cultural icons of Bengal, i.e. Vivekananda, Bankimchandra, Aurobindo, Subhash Chandra, even Tagore by presenting their ideas in a fragmented manner, isolating them from their historical context and projecting them as proponents of Hindutva is an exercise in fabricated, and not real history. Second, it needs to be acknowledged that the Left has not given due importance to these figures, considering them as religious or literary figures who do not merit much attention.

This has led to colossal neglect of the religious syncretism of Rammohun Roy and Vivekananda, the ideal of human unity in Aurobindo, the predilection for western science in Bankimchandra, apart from his amazing literary creations, his critique of gender inequality, the uncompromising secularism of Subhash Chandra Bose. To be more exact, the Left has to remind and enlighten the public by projecting the iconic cultural figures of Bengal in the totality of their historical contexts and counter the standpoint of the BJP. Space has opened up. It is now time for the Left to enter this space, set the agenda and work it out. (IPA Service)

** The writer is a Kolkata based leading political Scientist. He retired as Sir Surendranath Banerjee Professor of Calcutta University.

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The protest, now in its fourth day, has drawn students, job aspirants and young supporters of a movement that began as online satire and quickly turned into a street mobilisation. Demonstrators have slept at the protest site, banged steel plates with spoons, raised slogans and used humour as a political weapon against what they describe as a broken education and recruitment system.

The Cockroach Janta Party, or CJP, was launched by Abhijeet Dipke, a 30-year-old political communications strategist and Boston University student, after a Supreme Court judge’s remark comparing some jobless youth to “cockroaches” angered many young people. The group embraced the insult as a badge of survival, saying the term captured the resilience of a generation struggling with paper leaks, cancelled exams, high coaching costs and limited formal work opportunities.

Its rise has been unusually fast. The movement built a following of more than 22 million on Instagram within weeks, overtaking several established political handles and forcing parties across the spectrum to respond. Its supporters say that online reach is only the first stage, and the Jantar Mantar protest is intended to prove that digital anger can move into organised public action.

The immediate trigger is the NEET-UG 2026 controversy. More than two million candidates had to sit for a re-examination on 21 June after allegations that the original medical entrance test paper was compromised. The episode prompted extraordinary security measures, including biometric checks, heightened police presence and tighter monitoring of communication channels. Telegram was temporarily restricted after claims that leaked papers and fraudulent exam material were being circulated through the platform.

The National Testing Agency has said the re-examination was conducted under enhanced safeguards and has rejected claims that the fresh paper was leaked. It has warned students against fraudsters offering answer keys or question papers for money, while cybercrime officials have been asked to act against accounts spreading false claims. For many candidates, however, the distinction between confirmed leaks, fake leaks and administrative failure has done little to calm anger after months of uncertainty.

CJP supporters accuse the education ministry of failing to protect the integrity of high-stakes examinations that shape careers for millions of families. Their demand for Pradhan’s resignation has become the central slogan of the protest, though the movement’s wider language reaches beyond NEET. It links exam scandals with joblessness, inflation, expensive coaching centres and the feeling that young people are being asked to absorb the costs of institutional failure.

At Jantar Mantar, the movement’s theatrical style has been central to its visibility. The banging of plates echoed Prime Minister Narendra Modi’s 2020 appeal during the pandemic, when people were asked to honour frontline workers from balconies and rooftops. CJP used the same sound as protest, turning a familiar public ritual into a message of anger. Supporters have also called for symbolic actions such as diaper donations, using ridicule to keep attention on their demands.

Police have maintained a heavy presence around the protest site, using cameras and drones to monitor the gathering. Demonstrators have alleged that basic facilities were restricted as pressure mounted on them to leave, while organisers have said they will continue unless accountability is fixed. Dipke has told supporters that the movement is open to dialogue, but only after the education minister steps down.

The government has not accepted the demand for resignation. Officials have emphasised investigations, tighter safeguards and action against fraud networks. The dispute has nevertheless widened into a political issue, with opposition figures describing the CJP phenomenon as a signal of youth frustration while also arguing that lasting change must be carried through established political structures.

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By K Raveendran

The new FCRA rules may look like an administrative tightening of India’s foreign funding regime, but their political effect is likely to be far larger than their legal wording suggests. On paper, the framework is simple: organisations receiving foreign donations must be more precise about what they do, where they operate, and how the money is spent. They can no longer seek registration or permission by offering broad statements of purpose. They must now identify their work within a defined list of 105 activities grouped under religion, culture, economy, education and social service. The government’s stated logic is transparency, traceability and better monitoring of foreign money entering sensitive sectors. Yet the impact of such a move cannot be judged by text alone. It has to be read against the atmosphere in which it has arrived.

That atmosphere is already strained, particularly for Christian organisations working in education, healthcare, welfare, tribal development and rural support. Many such groups operate in places where the state is weak, private capital is absent and public services arrive slowly. Their work is often practical rather than theological: schools, hostels, clinics, nutrition centres, orphanages, old-age homes, rehabilitation services and disaster relief. But the public debate around Christian institutions has shifted steadily from service to suspicion. Allegations of conversion, foreign influence and cultural intrusion have become frequent in several states. Even where the claims do not stand legal scrutiny, the damage is done by the process itself: police complaints, local intimidation, stalled permissions, nervous donors and administrators forced into a defensive posture.

The new rules therefore land not as a neutral compliance exercise, but as one more layer of surveillance in a sector that already feels politically exposed. A requirement to specify the exact category of activity may appear reasonable to officials and auditors. For an NGO, however, it can create operational anxiety. Social work rarely fits into neat compartments. A Christian organisation running a rural school may also provide nutrition, counselling, scholarships, community health awareness and relief support. A tribal development project may involve education, livelihood support, culture, rights awareness and local leadership training. Under a rigid classification system, such overlap becomes a vulnerability. If an activity later appears to differ from the category declared, the organisation may fear accusations of diversion, concealment or misrepresentation.

This is where distrust deepens. Rules that demand precision from institutions operating in complex social settings tend to shift power towards officials interpreting the rules. That discretion matters because FCRA approval is not merely a financial licence. For many NGOs, it is the difference between survival and closure. Foreign contributions sustain long-term programmes that domestic philanthropy often does not fund, especially in remote, poor or conflict-affected regions. When permissions become harder to obtain or easier to challenge, the chilling effect goes beyond the organisations directly affected. Smaller groups begin avoiding certain kinds of work. Donors become cautious. Local staff fear being branded as political actors. Beneficiaries lose services without necessarily understanding why they have disappeared.

The government has a legitimate interest in knowing how foreign funds are used. No sovereign state can treat external money as irrelevant, especially in sectors involving religion, rights, political mobilisation or vulnerable communities. India has had past controversies involving shell organisations, opaque transfers, misuse of charitable platforms and campaigns that blurred the line between welfare and political advocacy. A regulatory regime that asks organisations to declare their activities and spending locations is not inherently unreasonable. The difficulty lies in whether regulation is applied evenly, transparently and with proportionate safeguards. If the rules are used to improve compliance, they may strengthen public confidence. If they are perceived as tools for ideological filtering, they will erode trust further.

For Christian minorities, perception is already shaped by lived experience. The anxiety is not only about the FCRA form or the list of 105 activities. It is about the growing frequency of confrontations around prayer meetings, schools, charitable homes and missionaries. It is about anti-conversion laws in several states and the way accusations can be made before evidence is tested. It is about local pressure groups arriving before officials do, and administrative systems responding to political noise rather than legal facts. In such an environment, even a technically neutral rule acquires a sectarian shadow. Communities ask not what the rule says in isolation, but who is likely to suffer from it in practice.

This presents a serious political problem for the BJP’s Christian outreach. The party has spent years trying to soften its image among Christian voters, especially in Kerala and parts of the Northeast. Kerala has been central to this project because Christians form an influential social bloc with deep roots in education, healthcare, entrepreneurship, migration networks and civil society. The BJP has held dialogues with church leaders, highlighted welfare schemes, projected minority-friendly faces and tried to build issue-based bridges with sections of the community.

But outreach cannot survive on symbolism alone. If the same community that is being courted politically feels that its institutions are being watched, restricted or distrusted administratively, the message becomes contradictory. A Christmas visit, a meeting with bishops or a public statement praising Christian contributions will not easily offset anxiety among schools, diocesan charities, mission hospitals and grassroots NGOs. Kerala’s Christian community is politically diverse and not automatically hostile to the BJP. Sections have concerns about economic opportunity, migration, security, social change and minority competition. But distrust of majoritarian politics remains a barrier. FCRA tightening, when viewed alongside pressures on missionary activity elsewhere, reinforces the suspicion that engagement is tactical while policy remains adversarial.

The challenge is sharper because Christian institutions in Kerala are not marginal actors. They are deeply embedded in the state’s social history. They run hospitals, colleges, technical institutions, welfare networks and charitable bodies that serve people across communities. Their influence is not confined to Sunday congregations. It extends into the middle class, the professional sector, the diaspora and local development. Any regulatory move perceived as targeting Christian-linked NGOs can therefore travel quickly through church networks, family conversations, parish bulletins and community media. The political cost may not appear immediately as street protest, but as quiet consolidation of scepticism.

There is also a wider democratic issue. Civil society cannot function effectively if every foreign-funded activity is treated as a potential threat. Nor can the state abdicate oversight simply because an organisation claims charitable intent. The balance requires clarity, fairness and trust. The new rules offer clarity in one sense by defining categories and asking for specific declarations. But clarity without trust can become rigidity. A system that classifies service too narrowly may fail to understand how social work actually happens. A school in a poor district is not just an educational activity; it may be a nutrition intervention, a gender programme, a child protection mechanism and a community development platform. A hospital may be healthcare, but it may also be disaster relief, livelihood support and social rehabilitation.

The government can reduce distrust only by ensuring that the rules are not enforced through suspicion-first governance. Decisions on registration, renewal or prior permission must be timely, reasoned and open to meaningful appeal. (IPA Service)

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The European Parliament’s economic affairs committee has approved draft rules for the proposed digital euro, clearing a key stage before a wider parliamentary vote expected in July. The measure is intended to create a central bank-backed digital wallet that eurozone residents could use for online, in-store and person-to-person payments, while preserving the role of banks and regulated payment firms in distribution.

The committee vote, passed by 43 votes to 14 with one abstention, comes after years of argument between EU institutions, the European Central Bank and commercial lenders over the scale and design of the project. Brussels wants the digital euro to function as a public alternative in a payments market where card networks and mobile wallets linked to US companies dominate cross-border transactions and much of the consumer payment infrastructure.

The proposal has gained urgency as policymakers reassess Europe’s financial exposure to foreign-controlled payment rails, cloud systems and dollar-backed digital assets. The return of trade tensions with Washington and the expansion of private stablecoins have sharpened the argument that the eurozone needs a sovereign digital payment option that can operate across the single market without relying entirely on commercial providers.

The digital euro would not replace cash. It would be issued by the Eurosystem as a digital form of central bank money, available through wallets operated by banks and authorised financial technology companies. Consumers would be able to use it without paying user fees, and the instrument would not earn interest, limiting its appeal as a savings vehicle.

Lawmakers have backed both online and offline functionality, a feature seen as crucial for resilience during internet outages, power disruptions or failures in private payment networks. Offline use is also central to the privacy debate because smaller-value transactions could be processed with less data exposure than standard card or mobile payments, though full anonymity is not part of the design.

The European Central Bank has argued that the project is necessary because cash usage is declining while digital payments are increasingly handled by private intermediaries. A digital euro would allow citizens to hold and spend public money in digital form, much as banknotes allow them to do in physical form.

Commercial banks have pushed back against the plan, warning that a large-scale public wallet could pull deposits out of the banking system and weaken their revenue from card payments and merchant services. The draft rules seek to address those concerns through holding limits, no interest payments and a distribution model that keeps banks at the centre of customer relationships.

Businesses would not be able to hold digital euros beyond a limited settlement period, expected to be no more than 24 hours, reducing the risk that companies use the system as a substitute for bank accounts. Consumer holding caps are expected to be calibrated later, with the European Commission and the central bank reviewing the limits as the system develops.

Cost remains one of the most contentious issues. Implementation expenses for banks have been estimated at €4 billion to €6 billion over four years, while the central bank’s own set-up costs are expected to be about €1.3 billion, with annual operating costs of roughly €300 million. Banks want clarity on compensation, merchant charges and the technical obligations they will face before committing fully to the rollout timetable.

Payment companies are watching the legislation closely because the digital euro could alter the economics of card and wallet transactions across the eurozone. While the project is not designed to ban Visa, Mastercard, Apple Pay or Google Pay, it would create a state-backed rival with legal tender status and potentially lower transaction costs for merchants.

The European Payments Initiative’s Wero wallet and domestic card systems such as France’s Cartes Bancaires show that parts of Europe already have alternatives to global networks. The digital euro, however, would be broader in scope, covering the full euro area and potentially providing a common settlement layer for payments that now rely on fragmented national systems or non-European infrastructure.

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The case, filed in San Jose, California, challenges the Department of Defense’s decision to place Alibaba on its Section 1260H list of “Chinese military companies” operating directly or indirectly in the United States. The designation was made after the Pentagon expanded the list on June 8 to 188 entities, adding some of China’s best-known technology, electric vehicle, semiconductor, robotics and biotechnology companies.

Alibaba argues that the designation has no factual or legal basis and says it is neither controlled by China’s military nor involved in Beijing’s military-civil fusion strategy. The company says its board is independent, its business is centred on retail, logistics, cloud computing and enterprise technology, and its products are not designed for weapons, defence or intelligence operations.

The Pentagon’s listing cited alleged links to China’s Ministry of Industry and Information Technology and indirect affiliation with the State-owned Assets Supervision and Administration Commission, known as SASAC. Alibaba’s lawsuit contests those findings, describing the decision as arbitrary and capricious and claiming that officials ignored evidence showing the company had no military connection.

The designation does not amount to formal sanctions, but it carries commercial and reputational risks. US law bars the Pentagon from contracting with companies on the list starting this month and extends restrictions in 2027 to purchases made through third parties. The effect is likely to be watched closely by banks, institutional investors, state pension funds, corporate clients and technology partners that use Pentagon designations as a compliance warning.

Alibaba says the label has already caused irreparable harm by casting doubt over its US relationships and branding it as a national security threat. The group’s international-facing businesses include Alibaba. com, AliExpress, logistics operations and cloud services used by merchants, exporters and companies seeking access to Chinese and Asian markets.

The Department of Defense has not commented on the lawsuit, citing pending litigation. The case places a major Chinese platform company before the US judiciary at a time when Washington is using export controls, investment screening and defence procurement restrictions to limit China’s access to advanced technologies that may have military applications.

Alibaba is not the only company contesting the expanded list. WuXi AppTec, a major pharmaceutical and biotechnology services group, filed a similar challenge earlier this month. Other companies added to the list include Baidu, BYD, NIO, Unitree Robotics, ChangXin Memory Technologies, Yangtze Memory Technologies and several firms involved in drones, sensors, artificial intelligence, batteries and semiconductors.

The dispute highlights the increasingly blurred boundary between commercial technology and national security. Washington’s position is that China’s military-civil fusion policy enables the People’s Liberation Army to benefit from innovations developed by civilian firms, universities and research bodies. Beijing rejects broad US restrictions as discriminatory and politically motivated, and has responded with its own controls on selected US firms, including entities linked to rare earth supply chains.

For Alibaba, the timing is sensitive. The company is trying to revive investor confidence after years of regulatory pressure, management restructuring and tougher competition in its core retail markets. Its latest quarterly figures showed revenue of 243.38 billion yuan, up 3 per cent, while cloud revenue rose 38 per cent to 41.63 billion yuan. The company is increasing spending on artificial intelligence and cloud infrastructure, with AI-linked cloud products becoming a larger part of its growth strategy.

Alibaba’s broader business remains exposed to weak consumer sentiment in China. The 618 mid-year shopping festival delivered only modest growth across major platforms, with shoppers responding cautiously despite heavy promotions. Tmall remained a leading platform, but the event underlined pressure on e-commerce margins as companies shift from discount-led sales campaigns to profitability, logistics efficiency and AI-driven customer engagement.

The Pentagon designation could complicate Alibaba’s attempt to present itself as a global technology infrastructure provider rather than only a China-focused retail group. Its cloud division competes for enterprise customers, and the company’s Qwen artificial intelligence models are being integrated into e-commerce, productivity and developer tools. Any perception that the group is linked to military programmes could make overseas clients, particularly in regulated sectors, more cautious.

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The derivative lawsuit, filed in federal court in San Francisco, accuses the board and executives of breaching their duties by allowing compliance lapses to persist despite internal and external alerts over passenger safety. The action is led by the Police and Fire Retirement System of the City of Detroit and names Chief Executive Dara Khosrowshahi among the defendants.

The complaint says Uber’s leadership overlooked repeated signs that its systems were not doing enough to prevent, detect or respond to sexual assault and harassment allegations involving drivers on the platform. It argues that the alleged failures damaged the company’s reputation, exposed it to legal claims and created financial risk for shareholders.

Uber rejected the allegations, saying the lawsuit ignores important facts and relies on misleading narratives from other cases that the company has already addressed publicly and in court. The company has maintained that safety remains central to its operations and that it has invested heavily in tools designed to protect riders and drivers.

The shareholder action comes as Uber faces thousands of lawsuits linked to alleged sexual misconduct by drivers. As of June 1, the company was facing 3,571 lawsuits in litigation overseen by the same San Francisco court, with claims alleging assault, harassment and inadequate safety controls. The allegations in those cases remain contested.

Shareholders allege the board knew Uber’s safety record was a material business risk. The complaint says directors were told that fewer than 40 per cent of users believed the company took safety seriously, a figure cited as evidence that trust in the platform had weakened despite public commitments to safety.

The case also broadens the claims beyond sexual misconduct. Shareholders point to other compliance disputes, including a federal disability-rights lawsuit alleging that passengers with service animals or stowable wheelchairs were denied rides, and a separate consumer case over Uber One subscription billing and cancellation practices. Uber has denied wrongdoing in those matters as well.

The lawsuit seeks to make directors reimburse Uber for alleged breaches of fiduciary duties and securities law violations. Any recovery in a derivative case would typically go to the company rather than directly to individual shareholders, making the action a test of whether investors can hold board members financially responsible for alleged oversight failures.

The governance challenge is significant because it targets Uber’s board-level supervision rather than only the conduct of individual drivers or customer-service processes. The shareholders argue that safety and compliance were mission-critical risks for a business built on matching passengers with drivers through a digital marketplace.

Uber has repeatedly said serious safety incidents represent a tiny fraction of trips. Its published safety reporting has stated that most trips end without incident and that serious sexual assault reports declined across earlier reporting periods. The company has introduced features including in-app emergency assistance, trip sharing, RideCheck alerts, audio recording in some markets, driver background checks and technology designed to flag risky dispatch patterns.

Critics argue that platform-based transport companies still face structural safety challenges because drivers are generally classified as independent contractors, trips occur in private vehicles, and enforcement depends heavily on reporting after incidents occur. Plaintiffs in the broader litigation have challenged whether app-based screening, deactivation rules and support systems are adequate for a service used at large scale.

The latest lawsuit also arrives after a federal jury in Arizona awarded $8.5 million to a passenger in a sexual assault case earlier this year. The verdict found Uber liable under an apparent-agency theory, though the company was not found negligent in its safety practices and has said it plans to appeal. The decision is being watched closely because it was the first federal bellwether case tied to the consolidated litigation.

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By Nitya Chakraborty

The opposition INDIA bloc which completed its three years on June 23 is passing through a critical period when the very foundation of this alliance, the strong regional parties, are shattered by defections and splits backed by the ruling party BJP. Mamata Banerjee who gave the name of the alliance at the founding conclave in Patna on June 23, 2023, is out of power from West Bengal in the recent state assembly elections. What is more damaging is that most of the MPs and MLAs of her Trinamool Congress have disowned her virtually making her a non entity in politics.

TMC with its 28 Lok Sabha members in Lok Sabha was a major regional party engaged in fighting the BJP at the national plane. The marginalization of Mamata and her TMC has immensely affected the power of the INDIA bloc vis a vis BJP at national level. Both the dissidents MPs and the legislators of TMC are presently being guided by the BJP. They are expected to function as the B team of the BJP in both Lok Sabha and in the West Bengal assembly.

Along with marginalization of Mamata, UBT Shiv Sena supremo Uddhav Thackeray is also facing a similar situation as six rebel MPs of his party joined the Eknath Shinde led Shiv Sena on Monday reducing his party’s number in Parliament to three. Shinde’s Sena is a part of NDA, so the BJP will get the support of another six members in Parliament. Only last month, seven MPs of AAP defected to the BJP. AAP is not attending INDIA bloc due its differences with the Congress but the AAP is committed to fight BJP on national plane along with INDIA bloc parties.

After the political setbacks to the two major INDIA bloc partners TMC and UBT Sena, the central BJP is focusing on splitting the powerful Samajwadi Party in Uttar Pradesh which has 37 seats in Lok Sabha . UP is going for state assembly polls in early 2027..UP is politically very important for BJP. All sorts of reports are coming from Lucknow about nocturnal meetings organized by the state BJP for some SP Lok Sabha members, but still now, no SP MP or MLA has indicated any intention in public. SP President Akhilesh Yadav is alert. He has refuted all reports about split in the SP. But the central leadership of BJP is determined to organize the split before the assembly polls. So the INDIA Bloc partners Congress and the SP have to be very vigilant.

As regards Tamil Nadu, the loss of DMK for the INDIA Bloc has also its adverse impact on the total unity of INDIA Bloc. DMK supremo M K Stalin has been a consistent fighter against the BJP till the state assembly results were out on May 4 and the Congress extended support to Vijay for chief ministership without having any talks with the party’s long time ally DMK. Earlier DMK, at the instance of the Left parties said that the Party would be fighting BJP on national plane, but in recent days, the DMK attitude towards the Congress and INDIA bloc has stiffened. This gives a big opportunity to the BJP to fish in the volatile politics of Tamil Nadu.

TN chief minister Vijay’s views about BJP and the INDIA bloc have not been fully transparent. Vijay is vulnerable to the BJP pressure if he thinks that that helps his party. Rahul Gandhi is quite close to Vijay. He must ensure that TVK joins INDIA bloc and agrees to its official position to fight the BJP in Lok Sabha elections. DMK was the leader of INDIA bloc in Tamil Nadu and Stalin led the bloc quite well by accommodating his allies including the Left parties. In 2029 Lok Sabha elections, Congress and the CPI, CPI(M) will have to fully depend on Vijay for seat sharing..It is not sure whether Vijay will be as cooperative as Stalin was in 2024 Lok Sabha polls.

Amidst this bad patches in the fortunes of the INDIA Bloc partners, Rahul Gandhi is continuing his consistent fight against the BJP-RSS and focusing in a big way for ideological battle against the BJP and the RSS. His speech at the June 8 meeting of the INDIA bloc in Delhi made sense since lot of analysis was there about the failings of the bloc partners including the Congress. Resolve was made for taking corrective action.

The ground reality is that the Congress has to shoulder the main responsibility of electoral offensive in the coming three years preceding the holding of Lok Sabha polls in 2029. 2029 is special since the BJP is aiming at establishing a one nation one party goal through this elections. The next constitutional amendment to convert India into a Hindu Rashtra is also on agenda after 2029 Lok Sabha elections. So the next three years are crucial for INDIA bloc in rebuilding the bloc and uniting all the forces including the civil society groups against the BJP.

In 2027, seven states are going for assembly elections, Out of this seven, excepting in Uttar Pradesh and Punjab, in all other five states, the Congress is the principal INDIA bloc party taking on the BJP and NDA. These states are Goa, Manipur, Uttarakhand, Himachal and Gujarat. In UP, the Congress has to arrive at an electoral understanding with the SP recognizing that SP is the major partner and the seat sharing will be made on the basis of ground reality. As regards Punjab, AAP is the dominant player followed by the Congress. Here there is no threat from the BJP. So it can be a contest between AAP and the Congress.

In 2028, state polls will be held in Madhya Pradesh, Rajasthan, Chattisgarh, and Karnataka among others. These are the states the Congress has to improve its performance. The win of INDIA bloc partners in the state assembly elections can only generate the necessary momentum for the Lok Sabha polls in April/May 2029. That way, the Congress and to some extent SP will have to lead the INDIA Bloc during this crucial period. The five point programme adopted at the June 8 meeting, has to be followed up in true spirit

After the INDIA bloc founding in June 2023, the results of the 2024 Lok Sabha polls were quite favourable for the partners. BJP was reduced to 240 from the earlier majority figure. But the Prime Minister Narendra Modi and Home Minister Amit Shah took corrective steps and in the next two years, the BJP has turned the electoral arithmetic in its favour. INDIA Bloc has also to do correctives and ensure that the united struggles continue along with the measures for electoral preparedness. Congress, SP, RJD and the Left have to shoulder the ideological task for taking on the BJP-RSS combo. (IPA Service)

The article Three Years After Founding, INDIA Bloc Is Facing Uncertainty On Its Future appeared first on Latest India news, analysis and reports on Newspack by India Press Agency).

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Starmer announced on Monday, June 22, that he would oversee an orderly transfer of power and remain in Downing Street until Labour chooses a successor, expected by September. His decision ends a premiership that began with a commanding election victory in 2024 but became increasingly strained by weak poll ratings, internal Labour pressure, policy reversals and public frustration over living costs, migration and public services.

The announcement followed weeks of mounting speculation over his future after Labour setbacks in local contests and growing unease among MPs about whether he could lead the party into the next general election, due by 2029. Party figures had become increasingly concerned that Labour’s large Commons majority was masking a deeper erosion of public trust, with Reform UK under Nigel Farage gaining ground among voters disillusioned with both main parties.

Andy Burnham, the Greater Manchester mayor who has returned to Parliament, is widely seen as the frontrunner to succeed Starmer. His backers argue that he offers a more direct political style and a stronger appeal to working-class voters in northern England, where Labour has struggled to hold together parts of its traditional coalition. Burnham has focused his public pitch on living standards, public transport, housing and the cost of essential services, though he has yet to set out a full national programme.

Wes Streeting, a former health secretary, is also viewed as a possible contender, raising the prospect of a contest that could expose divisions between Labour’s centrist wing and members seeking a sharper break from Starmer’s cautious governing style. Party officials are expected to set out the timetable for nominations and voting in July, with the aim of avoiding a prolonged leadership fight while markets and allies assess the transition.

Starmer entered office promising stability after years of Conservative turmoil, but his government struggled to turn a large parliamentary majority into a convincing governing narrative. He faced criticism over tax rises, welfare policy, immigration pressures and public-sector performance, while a series of internal disputes weakened his authority. The appointment of Peter Mandelson as ambassador to Washington and questions over political judgment deepened discomfort inside the party.

The outgoing prime minister also suffered from a perception that his administration was more effective at removing Conservative opponents than defining its own mission. Labour’s 2024 landslide owed much to the collapse of Conservative support after years of leadership turmoil, fiscal strain and public-service failures. Once in power, Starmer found limited room for manoeuvre, with high borrowing costs, tight budgets and voter impatience narrowing the government’s options.

His allies point to achievements on international policy, particularly support for Ukraine, efforts to rebuild ties with European capitals and a more predictable relationship with allies after the turbulence of the post-Brexit years. They also argue that his administration inherited deep fiscal and institutional problems, including pressure on the National Health Service, housing shortages and weak productivity growth.

The resignation nonetheless marks another sharp turn in Britain’s political cycle. Since David Cameron left office after the Brexit referendum, the country has moved through Theresa May, Boris Johnson, Liz Truss, Rishi Sunak and Starmer, with leadership changes often driven by party pressure rather than general elections. The pattern has reinforced concerns among businesses and investors over policy continuity at a time when the economy remains exposed to sluggish growth, fragile consumer confidence and constrained public finances.

Financial markets showed limited immediate disruption after Starmer’s announcement, though investors will watch closely for signs that the next Labour leader could shift fiscal policy, taxation or public spending plans. The pound held broadly steady, while gilt markets remained focused on inflation, borrowing costs and the government’s ability to maintain credibility with lenders.

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The shares changed hands through block deals on the National Stock Exchange, with the transaction executed at ₹1,730 a share. The deal involved about 44.9 lakh shares, with private equity investor ChrysCapital, through its affiliate Sepia Investments, and Anchor Partners selling part of their holdings. ADIA bought 39,130 shares, while other buyers included Aberdeen Group, Factory Mutual Insurance Company, HDFC Mutual Fund, Kotak Mahindra Mutual Fund, Ashoka WhiteOak and other funds.

Corona Remedies’ shares rose nearly 3 per cent after the transaction, trading around ₹1,840 on the NSE, as the market read the entry of large domestic and overseas institutions as a vote of confidence in the company’s branded formulations business. The block deal valued the stake at a premium to the company’s public issue price band of ₹1,008-₹1,062 a share in December 2025, underlining the strong post-listing performance of the stock.

Sepia Investments sold 43.28 lakh shares, equal to about 7.07 per cent of Corona Remedies’ equity, for around ₹748.9 crore. Anchor Partners offloaded 1.61 lakh shares, or 0.26 per cent, for about ₹28 crore. Sepia’s stake fell to 12.69 per cent from 19.76 per cent after the sale, while the wider ownership base brought more institutional depth to the company’s shareholder register.

The transaction is also a partial exit for early financial investors who backed Corona Remedies before its public listing. For buyers, the attraction lies in a domestic formulations franchise with established brands across women’s healthcare, cardio-diabeto, pain management, urology and other therapeutic categories. The company has positioned itself in segments with higher repeat prescription potential and relatively stronger pricing resilience than low-margin commodity generics.

Corona Remedies reported revenue growth of about 17 per cent in the financial year ended March 2026, while profit after tax rose about 33 per cent. Its full-year revenue crossed ₹1,400 crore, supported by growth in chronic and sub-chronic therapies, brand-led marketing and wider distribution. The company’s earlier public offer was entirely an offer for sale, meaning the proceeds went to existing shareholders rather than to the company.

The drugmaker was ranked among the top 30 pharmaceutical companies in the domestic pharmaceutical market by sales before its listing. Women’s healthcare is one of its strongest verticals, followed by cardio-diabeto, pain management and urology. Its brand portfolio includes products targeted at specialist doctors, a strategy that has helped it command higher prescription visibility in selected therapies.

The stake purchase comes at a time when pharmaceutical companies with strong domestic franchises are drawing investor interest. Companies focused on branded formulations have benefited from rising healthcare consumption, deeper insurance penetration, higher diagnosis rates for chronic conditions and stronger prescription volumes in urban and semi-urban markets. The domestic pharmaceutical market has also been less exposed to some of the pricing and regulatory volatility faced by export-heavy generic drugmakers.

ADIA’s participation fits a broader pattern of Gulf sovereign capital seeking exposure to healthcare, pharmaceuticals, financial services, infrastructure and consumer platforms across growth markets. The Abu Dhabi fund has built a diversified global portfolio and has been active in private equity, listed equities, real estate and alternatives. Its entry into Corona Remedies, though modest in percentage terms, adds to institutional interest in healthcare businesses with predictable cash flows and long-term demand visibility.

For Corona Remedies, the deal improves public float quality and may support market liquidity. Greater institutional ownership can also bring closer scrutiny of margins, product concentration, compliance, capital allocation and future acquisition strategy. The company’s next phase will be measured against its ability to maintain growth while protecting profitability in a market where promotional expenses, field-force productivity and doctor engagement remain critical.

The transaction also highlights how block deals have become an important route for private equity funds to monetise stakes after listings. Rather than waiting for gradual market sales, large shareholders can exit or pare exposure through negotiated exchange transactions that allow institutional buyers to acquire sizeable positions in a single trading window. Such deals can reduce overhang when executed cleanly, though they also put focus on valuation sustainability after the initial market response.

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By Arun Srivastava

The Bharatiya Janata Party’s (BJP) strategy of fracturing regional parties serves as a quaternary-track political manoeuvre designed to secure long-term constitutional dominance, dismantle the opposition architecture INDIA bloc, give a shape to its long cherished desire to create Bharat free of active opposition and finally, consolidating its position in 2029 and sweeping the Lok Sabha election. It is a three year programme piloted by Narendra Modi-Amit Shah duo to facilitate the process of One National One Party goal and the establishment of Hindu Rashtra.

Splitting regional parties is a highly calculated, multi-layered political strategy rather than a simplistic action. The immediate goal is often to secure a two-thirds legislative majority for constitutional amendments for enabling passage of the delimitation bill during the next parliamentary session. For ensuring the constitutional amendment, the ruling NDA requires a two-thirds majority (360 seats out of 540) in the Lok Sabha. Modi government had tried to have the bill through in the last session, but it fell of majority support.

The push to split parties and consolidate power is also inextricably linked to Narendra Modi’s attempts to pass a Delimitation Bill ahead of 2029LokSabha polls.. Consolidating numbers would help Modi to give a shape to his plan to easily push through redrawn electoral maps that fundamentally alter India’s parliamentary math.

Poaching regional leaders would provide instant grassroots organizational machinery to BJP, but the possibility could not be ruled out that Shah’s action may prove to be counter-productive and harm the BJP and Modi’s design. Delimitation will increase seats in northern states where the BJP possesses a strong footprint, while reduce the relative electoral weight of southern and regional strongholds.

Controlling the legislative process ensures the boundary redrawing aligns with the party’s long-term national electoral map optimization. The INDIA bloc relies heavily on strong regional parties to anchor specific states and defeat the BJP locally. By fracturing these regional entities, the BJP isolates the Congress party, depriving it of crucial coalition partners, shared vote banks, and localized organizational machinery. Splits trigger intense internal infighting over party names and election symbols, forcing opposition leaders to focus on survival rather than mounting a unified national campaign.

The Delimitation Bill, 2026 is highly controversial because it proposes a massive overhaul of India’s electoral map by expanding the Lok Sabha from 543 to 850 seats and changing how parliamentary constituencies are calculated. Modi government had introduced a three-bill package in a special parliamentary session to operationalize the 33% women’s quota, which was legally tied to a new delimitation exercise. The opposition, along with several region

The parties, opposed the move, leading to the bill falling 54 votes short of the required majority. The delimitation bill would widen the “North-South” Divide. Southern states, which have successfully curbed population growth, feared that a population-based redistribution of seats would drastically diminish their political representation in favour of more populous northern states. Their apprehension was genuine and rationale. By inflating the Lok Sabha to roughly 850 seats, the government aimed to ensure no state lost its absolute number of seats, but at the same time it would create an unwieldy legislative chamber without addressing the underlying federal concerns.

It was purely a political move of BJP. It is a major power in northern India, by virtually by crippling the Congress in the states. With increased number of seats, BJP would emerge as the ruling party. It would not have to bother for support from the southern states. Despite its defeat, the bill remains the epicentre of a fierce debate on Indian federalism. The fear that seat reallocation will permanently shift political power from South India to North India will come true. Because the North’s population grew exponentially faster over the last 50 years, a purely population-based seat allocation would drastically increase the number of MPs from northern states (like Uttar Pradesh and Bihar).

Though BJP and RSS talk of one country, this move of the saffron ecosystem will split India between North and South. The INDIA bloc had accused BJP of forcing through a radical, potentially unfair restructuring of constituencies. The bill sought to grant Parliament the direct authority to decide which census to use for redrawing boundaries, stripping away the fixed constitutional timelines that ensured institutional neutrality. Splitting the Nationalist Congress Party (NCP) and Shiv Sena (SS) would yield immaterial gains for the BJP as it is already in power in Maharashtra. A dozen Lok Sabha members of these parties, deserting their parent parties, would not have much significance in the state. But their support is essential at national level. They will help BJP-RSS accomplish their long-drawn mission. The Maha Vikas Aghadi (MVA) is yet to come out of the psychological shock it suffered in June 2022 when Eknath Shinde led a major rebellion within the Shiv Sena.

In Bengal too, the rebellion by the TMC parliamentarians does not have so much of relevance. BJP is already in power and it will continue to rule for next five years. While the rebels are using the BJP for getting state protection and enjoying power, the BJP is encouraging them to desert TMC with an eye on smooth passage of the Delimitation bill. The number of the deserters is not small; around 20 MPs are in line. Nonetheless the national BJP gains from the Trinamool Congress MPs desertions by breaking Mamata Banerjee’s regional dominance in West Bengal, weakening anti-BJP opposition coalitions at the national level, and boosting its own parliamentary strength and organizational footprint in eastern India. Bolstering its parliamentary numbers makes it easier for the national BJP to get pass crucial bills and legislative reforms where it previously required broader opposition consensus.

By engineering splits or exploiting existing fractures (such as the DMK distancing itself from Congress), the BJP creates mutual distrust among opposition parties, effectively destroying the united front they presented in earlier parliamentary sessions. There is no doubt that a successful delimitation exercise could structurally redesign the composition of the Lok Sabha—potentially benefiting saffron ecosystem. Weakening regional players would prove to be boon for the BJP as it would either co-opt the regional leaders or consolidate its own grassroots presence in states where regional parties once held monopolies.

These desertions will help the BJP in not only having its contentious Delimitation Bill passed in the next session of parliament, but also smooth passage of highly contentious, stalled legislation, like One Nation, One Election (simultaneous national and state polls), and the Uniform Civil Code (UCC). By splintering the key regional pillars of the opposition, the BJP effectively dilutes the collective bargaining and voting power of the INDIA alliance inside Parliament.

Rather than confronting entire regional blocks, this strategy involves “salami slicing” the opposition.“Salami slicing” of the opposition is a political strategy where a dominant or ruling party gradually weakens, divides, and eliminates opposition forces piece by piece—one thin “slice” at a time—rather than launching a single, massive crackdown. By taking small, incremental steps, the ruling power avoids triggering a massive public backlash, a unified resistance, or international condemnation. By the time the opposition realizes what is happening, they are already completely neutralized. Saffron ecosystem has already been resorting to Salami Slicing, in future it would further intensify it for having an effectively complete control.

Political analysts and commentators view this BJP’s strategy of engineering splits and absorbing leaders from regional parties as a definitive push toward an “Virodh-mukt Bharat” (opposition-free) political order. This will also lead to erosion of federal power. Yet another aspect of this move is; by systematically weakening regional satraps, the BJP seeks to replace India’s highly fragmented, multi-party coalition system with a centralized, dominant-party system. When Modi introduced the phrase “Congress-mukt Bharat” in 2014, it was framed as ridding India of dynastic politics, but his latest move aims at finishing the regional political power centres. BJP’s top leadership has frequently critiqued regionalism, arguing that regional parties prioritize caste-based, and dynastic interests over national development.

Modi’s delimitation and seat-expansion proposals are rooted in the RSS’s longstanding ideological goals. The RSS has historically advocated for population-based representation and restructuring India’s political geography. The push to link delimitation with the 2011 Census and a massive expansion of the Lok Sabha (up to 850 seats) is strongly supported by the RSS. It has also echoed the Modi administration’s legislative “guarantees” regarding the redrawing of constituencies. The Modi government argued that population-based delimitation restores “one person, one vote, one value” after 50 years of freeze. However, the opposition sees it as unfair to the southern and eastern states that fared better in implementing the government’s population control policies. (IPA Service)

The article BJP Top Brass’s Three-Year Plan To Achieve ‘One-Party, One-Nation’ Goal appeared first on Latest India news, analysis and reports on Newspack by India Press Agency).

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The measure, framed by Tehran as a safety and liability requirement, has raised alarm across shipping, insurance and energy markets because it appears to test the limits of international navigation rights while giving Iran a mechanism to influence traffic through a corridor carrying roughly a fifth of global oil flows and a major share of liquefied natural gas exports.

The new terms require ships to register with Iran’s Persian Gulf Strait Authority at least 48 hours before transit, submit voyage details, obtain route clearance and take out an approved insurance policy. The insurance cover is being offered without charge during an initial 60-day negotiation window, but Iranian officials have indicated that fees could follow once the grace period expires.

US officials have sought to portray the passage of vessels as evidence that the strait is not under Tehran’s unilateral control. Commercial tracking showed traffic improving from the near-paralysis seen during the crisis, though flows remain well below normal levels. Before the confrontation, more than 100 ships a day could move through the broader Hormuz corridor; crossings have only begun to recover in limited numbers.

The dispute has shifted from an immediate military blockade to a legal and commercial contest over who can set the rules for one of the narrowest and most strategically important maritime passages in the world. Iran says the measures are needed to manage mine risks, collision hazards, environmental exposure and security threats after months of disruption. Shipowners and insurers view the arrangement as a potential toll system under another name.

The Strait of Hormuz connects the Persian Gulf with the Gulf of Oman and the Arabian Sea. Tankers carrying crude from Saudi Arabia, Iraq, Kuwait, Qatar and the UAE rely on the route, while Qatar’s LNG trade has few practical alternatives at comparable scale. Energy traders are watching the new regime closely because even modest delays in approvals, insurance documentation or military clearance can ripple through freight rates, war-risk premiums and crude benchmarks.

Legal specialists say Iran’s position rests on a contested interpretation of coastal-state authority. The waterway passes through the territorial waters of Iran and Oman, but it is also treated by many maritime powers as an international strait where transit passage should not be impeded. Iran has not ratified the UN Convention on the Law of the Sea and has long taken the position that prior approval can be required in its waters, particularly for certain categories of vessels.

That gap between legal claims and operating reality has become more important as naval risk rises. Shipowners are not only assessing what the law permits but whether captains, crews and insurers can safely ignore Iranian instructions. Even where maritime lawyers argue that permission should not be needed, a vessel facing warning shots, jamming, inspections or denial of safe routing may have little commercial appetite for confrontation.

Insurance has become the central lever. War-risk premiums for the Gulf had already climbed during the crisis, and underwriters have demanded tighter route discipline, stronger tracking compliance and clearer security guarantees. A mandatory policy issued or approved by Tehran could complicate existing cover, especially for vessels linked to Western banks, sanctioned cargoes or ports under close regulatory scrutiny.

The United States has rejected any attempt to turn Hormuz passage into a paid permission system and has warned that freedom of navigation remains a core interest. At the same time, Washington has avoided presenting the quiet passage of ships as a full return to normal, with mine-clearance operations, naval patrols and diplomatic channels still shaping the pace of recovery.

Gulf governments are taking a cautious line. Producers want exports restored without giving formal recognition to a permanent Iranian gatekeeping role. Some have reopened tenders and prepared cargo schedules, but shipping desks are still factoring in delays, escort options and the possibility that Tehran could tighten approvals if talks stall.

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By T N Ashok

On a humid June morning in India’s capital, the birthday wishes began arriving before sunrise. Students posted videos on Instagram. Party workers unfurled banners across small towns. Political allies issued carefully worded messages of solidarity. Critics, never far behind, reminded the nation of his electoral defeats, his verbal missteps and the privilege of his birth.

Few politicians in contemporary India provoke reactions as sharply divided as Rahul Gandhi. To supporters, he is the last national leader capable of challenging Prime Minister Narendra Modi and the Bharatiya Janata Party’s formidable political machine. To detractors, he remains an accidental politician, a fourth-generation dynast whose surname opened doors that would remain shut to almost everyone else.

Yet after two decades in public life, Gandhi has outlasted countless predictions of his political demise. At 56, he remains perhaps the most recognizable opposition figure in India and, despite repeated setbacks, one of the few politicians with a conceivable path to the prime ministership. The caricature and the reality, as often happens in politics, are not quite the same.

Rahul Gandhi entered politics carrying a burden few politicians have known. He was born into one of the most powerful political lineages and yet has to struggle to defeat the BJP. He was born in 1970 to Rajiv Gandhi and Sonia Gandhi, grandson of Prime Minister Indira Gandhi and great-grandson of India’s first Prime Minister, Jawaharlal Nehru.

The family lineage is inseparable from the story of modern India itself. Nehru guided the newly independent nation for seventeen years. Indira Gandhi centralized power and dominated Indian politics for decades. Rajiv Gandhi became prime minister after his mother’s assassination in 1984. Both Indira and Rajiv would later be assassinated.

The violence profoundly shaped Rahul Gandhi’s life. Unlike many political heirs who eagerly embrace public attention, Gandhi spent much of his youth shielded from it. Security concerns dictated his schooling. Friends recall a reserved young man more comfortable in small circles than on public stages.

He studied at institutions linked to Delhi University and later abroad, eventually working briefly in the private sector before returning to India. Politics was less a choice than an inheritance.

When Gandhi entered electoral politics in 2004, winning from the family stronghold of Amethi in Uttar Pradesh, many assumed the succession plan was obvious. The Congress Party, once India’s natural party of government, expected its young prince eventually to reclaim the throne.

Reality proved more complicated. Gandhi initially appeared uncomfortable with the rituals of Indian politics. His speeches often lacked the sharpness of seasoned campaigners. Interviews sometimes became fodder for ridicule. Television studios and social media users dissected his mistakes with unusual intensity.

For years, political opponents successfully portrayed him as inexperienced, entitled and disconnected from ordinary Indians. The image stuck. It became one of the most effective political caricatures in modern Indian politics.

Yet colleagues who worked closely with him described a different figure: intensely curious, deeply interested in organizational reform and surprisingly persistent despite public setbacks. The contradiction would define much of his career.

Judged solely by election results, Gandhi’s record appears uneven. But there is success hidden behind his failures. The Congress-led coalition won national elections in 2004 and 2009, though those victories were generally attributed to Sonia Gandhi and Prime Minister Manmohan Singh rather than Rahul.

The real tests came later. The crushing defeats of 2014 and 2019 transformed him into the face of Congress’s decline. Narendra Modi’s rise reshaped Indian politics, turning the BJP into the dominant national force and reducing Congress to a shadow of its former self.

Many politicians would have disappeared after such defeats. Gandhi did not. Instead, he gradually reinvented himself. His most significant political achievement may not have been an election at all but a journey.

In 2022, Gandhi launched the Bharat Jodo Yatra, a cross-country march spanning thousands of kilometres. Critics initially dismissed it as political theatre. Yet as images emerged of him walking through villages, cities and remote regions, the march began altering public perceptions. It showcased a politician willing to engage directly with citizens rather than relying solely on rallies and television appearances.

A second nationwide march followed. The yatras helped transform Gandhi from a reluctant politician into a more confident public figure. Even some critics acknowledged the change.

Unlike many Indian political leaders, Gandhi’s personal life remains largely private. He has never married. Like Vajpayee the orator and Modi the PR man , he is a reclusive politician who is also a bachelor like them. So NO baggage.

The subject periodically becomes a national obsession, generating speculation that he rarely addresses. Supporters argue that his bachelor status frees him from accusations of promoting immediate family interests. Critics counter that it reveals little about his political abilities. In truth, the fascination says more about India than it does about Gandhi.

In a political culture where family networks often determine careers, the absence of a spouse and children makes him an unusual figure. His closest political relationship remains with his sister, Priyanka Gandhi Vadra, whose campaigning skills have frequently drawn comparisons with their grandmother, Indira Gandhi.

Together, they represent the latest generation of one of the world’s most enduring political dynasties. The youthful duo captures the imagination of GEN Z and millennials. The productive force of Indian society and nation building. Perhaps the most surprising development of recent years has been Gandhi’s growing appeal among younger voters. India is a young nation. Hundreds of millions of citizens are under forty.

Many have no memory of Congress dominance. They grew up during the Modi era and encountered Gandhi primarily through digital platforms rather than traditional party structures. His social media presence has evolved significantly. Videos of unscripted interactions with students, workers, delivery personnel and small entrepreneurs often circulate widely online.

He speaks a language that resonates with parts of Generation Z: inequality, unemployment, concentration of wealth and democratic accountability. Whether that online popularity translates into votes remains uncertain. But it has given Gandhi something he lacked for much of his career: a direct connection with younger Indians unmediated by television channels or party organizations.

Any profile of Rahul Gandhi ultimately returns to Narendra Modi. His biggest challenge is to break the Modi Magic, The Charisma, The bubble that Modi has created. He has to find ways to prick the bubble to replace it with himself.

The two men represent contrasting political stories. Modi rose from modest beginnings to become India’s most dominant political figure in decades. Gandhi inherited a legacy that many Indians admire and many others resent. Modi projects authority and certainty. Gandhi often projects introspection and questioning. Modi’s supporters celebrate decisive leadership. Gandhi’s supporters argue that democracy requires a robust opposition capable of challenging concentrated power.

The asymmetry between them remains vast. Modi leads a party that has expanded its footprint across much of India. Gandhi leads a Congress Party still struggling to recover organizational strength lost over a decade. Yet politics has a way of changing unexpectedly. Few believed Congress could return to power after earlier periods of decline. Few predicted the BJP’s extraordinary rise thirty years ago. History rarely moves in straight lines.

Can He Become Prime Minister?: The question follows Gandhi everywhere. The answer is neither impossible nor imminent. For Gandhi to become prime minister, several conditions would need to align. Congress would need to continue rebuilding. Opposition parties would need to cooperate. Regional leaders would need to accept a national coalition framework. Most importantly, voters would need to decide they want an alternative to the BJP.

Those are substantial hurdles. But Gandhi possesses advantages that few opposition leaders enjoy. His national recognition is unmatched outside Modi. His party, despite its weakness, remains India’s only opposition organization with a truly nationwide legacy. His surname continues to evoke loyalty among millions even as it generates skepticism among others.

Political careers are often judged too quickly. The young man once mocked as an unwilling heir has become a resilient opposition leader. The politician repeatedly written off has repeatedly returned. Whether Rahul Gandhi eventually reaches the prime minister’s office remains one of the central unanswered questions of Indian politics.

For now, on his birthday, he occupies a more familiar position: neither triumphant or defeated, neither fully embraced nor fully rejected. Just still standing. And in a democracy as vast and unpredictable as India, that alone can be a remarkable political achievement. (IPA Service)

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By R. Suryamurthy

India’s economy is supposedly doing remarkably well. Growth remains among the fastest in the world. Stock markets continue to flirt with record highs. Billionaires are multiplying. Airports are expanding. Bullet trains are advancing. Defence exports are reaching new milestones. The nation is speaking confidently about becoming a $10 trillion economy and a developed country by 2047.

Yet somewhere between these grand ambitions and glittering statistics, another India exists. It is the India of shrinking grocery baskets, rising electricity bills, stagnant wages, disappearing job opportunities and relentless economic anxiety.

This India does not feature prominently in government presentations, corporate earnings calls or investor conferences. But it is India that most citizens inhabit.

And for them, the economy feels less like a boom and more like a slow-moving recession. Not a technical recession measured by GDP contractions. A household recession is measured by declining purchasing power. A recession of aspirations. A recession of dignity. A recession in which people are working harder merely to stand still.

The latest diplomatic thaw between the United States and Iran is being hailed as a victory for stability. Markets have responded positively. Oil traders anticipate lower risk premiums. Shipping companies expect fewer disruptions in the Gulf.

But if there is one lesson ordinary Indians have learned over the past few years, it is that global crises arrive quickly while relief arrives slowly. When tensions escalated in West Asia, fuel prices rose. Transportation costs climbed. Fertiliser became more expensive. Food inflation accelerated. Electricity costs increased. Every stage of the supply chain passed costs downward until they finally landed where they always do—on the shoulders of the consumer.

Now that peace appears to be returning, nobody is promising that those costs will fall with equal speed. That asymmetry defines modern economics. Prices rise like rockets and descend like feathers. Profits are privatised. Pain is socialised. The same pattern is visible across sectors.

When commodity prices increase, companies raise prices immediately. When commodity prices fall, they discover fresh reasons to maintain margins. Consumers are expected to understand market realities during difficult times, but rarely receive equivalent consideration when conditions improve.

The burden of adjustment is remarkably one-sided. The consumer absorbs inflation. The worker absorbs productivity pressures. The taxpayer absorbs subsidies. The citizen absorbs uncertainty. Everyone else has mechanisms to hedge risk. The common man has none.

This reality becomes even more uncomfortable when viewed through the lens of climate change. India is entering an era in which the weather itself is becoming a source of economic instability.

For decades, economists treated climate as a background condition. Rain arrived. Temperatures fluctuated. Agriculture adapted. Markets adjusted. That assumption no longer holds.

Heatwaves now arrive with frightening regularity. Monsoons have become increasingly erratic. Floods and droughts often occur within the same season. Reservoir levels, crop yields, electricity demand and food prices are becoming more volatile.

What was once considered an environmental challenge is rapidly becoming an economic one. And once again, the burden falls disproportionately on those least capable of carrying it.

The wealthy experience heat differently. They retreat into climate-controlled homes, offices and vehicles. The poor experience heat physically. The delivery rider crossing a city under a blazing sun experiences climate change differently from the executive tracking temperatures from an air-conditioned office. The construction worker labouring on exposed concrete experiences climate change differently from the investor purchasing shares in cooling-equipment manufacturers.

One person’s inconvenience is another person’s survival challenge. This inequality is becoming one of the defining features of modern India. The country is witnessing extraordinary wealth creation alongside growing economic insecurity. That contradiction is becoming impossible to ignore.

Official statistics may show moderation in inflation. Yet anyone visiting a local market knows that food prices remain stubbornly high. Healthcare costs continue rising. Education expenses keep climbing. Housing has become unaffordable in many urban centres. Electricity consumption required merely to remain comfortable during summer is creating a new category of household expenditure.

Meanwhile, wage growth remains uneven. This is especially true for younger Indians. No demographic should be more optimistic about the future than the youth of a rapidly growing economy.

Instead, many young Indians find themselves trapped between expensive education, uncertain employment and rising living costs. Degrees are multiplying faster than opportunities. Expectations are rising faster than incomes. Qualifications are increasing faster than job creation.

The result is a generation that often appears educated but economically insecure. That insecurity carries consequences extending far beyond economics. A society’s stability ultimately depends not on how wealthy its richest citizens become but on whether ordinary people believe their future will be better than their present.

That belief is becoming harder to sustain. The middle class, once viewed as India’s greatest success story, increasingly finds itself squeezed from both directions. It pays taxes but receives limited subsidies. It earns too much to qualify for assistance yet too little to feel secure.

It is expected to finance healthcare, education, housing, retirement and increasingly climate adaptation from its own resources. Every new shock—whether geopolitical, climatic or economic—extracts another layer of savings. For many families, financial planning has been replaced by financial firefighting.

The deeper problem is that policymakers continue to treat these crises as isolated events. Inflation is discussed separately from climate. Climate is discussed separately from employment. Employment is discussed separately from energy. Energy is discussed separately from geopolitics. In reality, they have become inseparable.

A conflict in the Gulf affects fuel costs. Fuel costs affect transportation. Transportation affects food prices. Food prices affect inflation. Inflation affects household consumption. Consumption affects growth. Growth affects employment. Employment affects social stability. Everything is connected. Yet policy frameworks often remain fragmented.

India’s greatest challenge in the coming decade may not be achieving rapid growth. It may be ensuring that growth remains meaningful for ordinary citizens. Economic success cannot be measured solely by aggregate indicators.

GDP does not reveal whether families are reducing protein consumption. Stock indices do not reveal whether young graduates are finding stable jobs. Corporate earnings do not reveal whether households can afford air-conditioning during increasingly dangerous summers.

National wealth does not automatically translate into household security. The distinction matters. Because citizens do not experience economies in aggregate. They experience them individually. Through salaries. Through bills. Through rents. Through school fees. Through grocery purchases. Through fuel receipts. Through medical expenses. Through the constant calculation of whether the next month will be manageable.

The danger facing India is not economic collapse. The danger is something more subtle. A gradual normalisation of insecurity. A society in which citizens become accustomed to paying more for less. A society where every external shock is accepted as inevitable. A society where resilience becomes a euphemism for endurance. That is not resilience. That is resignation.

The forthcoming Iran-US agreement may lower tensions. The monsoon may eventually recover. Inflation may moderate. Markets may celebrate. But unless those improvements translate into tangible relief for households, the underlying discontent will remain.

Because ultimately, nations are not judged by the comfort of their elites, the optimism of their investors or the ambitions of their policymakers. They are judged by whether ordinary people can live with dignity, security and hope.

And today, despite all the triumphalism surrounding India’s rise, millions of Indians are asking a simple question that remains unanswered: If the economy is doing so well, why does everyday life feel so difficult? (IPA Service)

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The penalty, issued in October 2025, became clearer through appeal materials dated 29 April 2026, when Moscow City Court upheld the lower court’s ruling. The amount was not visible in the published text, but Google has previously been fined 3.8 million roubles under the same non-removal provision, part of a steady series of penalties over content that authorities say should be restricted inside Russia.

The case file identified pages in Google Maps connected with Kauffman, AlkoVilla, Alkomarket-Dostavka and Domashny Magazin, while another referenced alcohol-market listing had already disappeared from the service. Roskomnadzor, the communications and internet regulator, acted after the Federal Service for Alcohol and Tobacco Market Regulation concluded that the pages contained information about remote alcohol sales. Russian law has long barred online alcohol retailing, even as retailers have periodically pushed for controlled digital sales using age checks, licensed logistics and state tracking systems.

Google contested the ruling, arguing that Roskomnadzor had not properly notified the company of the takedown demands. The appeal court rejected that argument and left the penalty in force. The case was brought under Article 13.41 of the Code of Administrative Offences, a provision used against owners of internet resources that do not delete information when Russian law requires its removal.

The alcohol listings were not the only material cited in the proceedings. The same decision also referred to complaints involving several Google Play applications and links to books classified as extremist in Russia. That bundling of unrelated categories reflects the way administrative cases against large technology platforms are often assembled: several takedown demands, different forms of content and a single legal theory of non-compliance.

The dispute widens Russia’s pressure on foreign digital platforms. Earlier enforcement campaigns centred on social media posts, YouTube videos, opposition material, war-related content, data localisation and access to sanctioned media channels. The latest case shows that map listings, customer reviews and local business pages are also being treated as regulated information when authorities believe they facilitate prohibited activity.

The removal drive predates the court ruling. Since June 2024, Roskomnadzor has sent Google 436 notices demanding the removal of alcohol-store pages and reviews from its maps service. The notices said links to stores or comments about them had been entered into Russia’s register of prohibited online resources on the basis of court decisions connected with remote alcohol sales. Some listings have since vanished from Google Maps, although it is not always clear whether they were removed by Google, deleted by business owners or made inaccessible for other reasons.

For Moscow, the enforcement fits a wider policy of tightening control over alcohol availability. Alcohol retailing is licensed, age restricted and monitored through state systems, while regions can impose additional limits on sales hours and outlets near schools, medical facilities and other protected areas. Regulators see online listings that advertise delivery or remote ordering as a way to bypass those restrictions, particularly where sellers may lack proper licences or age verification.

For global platforms, the case raises a different problem. A map page is usually designed as a directory entry, combining address, opening hours, photographs, phone numbers, user reviews and merchant-supplied details. Authorities are increasingly treating parts of that information as potentially illegal advertising or sales facilitation, requiring platforms to police not only formal adverts but also user-generated location data. That creates a compliance burden in markets where rules on prohibited goods, political content and public morality are enforced through takedown notices backed by fines.

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The France captain struck in the 66th minute, added a second deep into stoppage time and moved to 14 World Cup goals, overtaking Pelé and Lionel Messi on the tournament’s all-time scoring list. Bradley Barcola, sent on as a substitute, scored France’s second in the 82nd minute before Ibrahim Mbaye pulled one back for Senegal in stoppage time.

Mbappé’s double also took him to 58 goals for France, pushing him past Olivier Giroud as the country’s leading scorer. His World Cup total now leaves him level with Gerd Müller and behind only Ronaldo Nazário and Miroslav Klose, whose record of 16 remains within reach if France go deep in the tournament.

France’s win was built less on early dominance than on second-half correction. Senegal were sharper before the interval, pressing with purpose, unsettling France’s build-up and creating the better chances. Nicolas Jackson struck the post, Ismaïla Sarr found space behind the defence, and France’s midfield struggled to link a star-filled attack that included Mbappé, Ousmane Dembélé and Michael Olise.

Didier Deschamps’ side looked disjointed during that first half, with misplaced passes and little rhythm in the final third. Senegal’s intensity exposed gaps between France’s midfield and defence, while the European side’s wide players were frequently forced into hurried decisions. The match carried historical weight for both teams, recalling Senegal’s famous 1-0 win over France in the opening game of the 2002 World Cup.

The balance shifted after half-time as France reorganised their attacking structure. Olise moved into a more central creative role, Dembélé operated with greater width, and Mbappé began to receive the ball in areas where he could attack Senegal’s back line directly. That change turned a stagnant display into a more fluid one.

The breakthrough arrived midway through the second half when Olise found Mbappé, who finished with the assurance that has defined his World Cup career. France, who had laboured for an hour, suddenly looked like the side expected to contend for a third world title. Senegal were forced to chase the game, and the spaces France had lacked began to appear.

Barcola’s goal gave France breathing room. The Paris Saint-Germain forward produced a composed finish after coming off the bench, rewarding Deschamps’ use of his attacking depth and underlining the range of options available to a squad seeking a third consecutive World Cup final. France won the tournament in 1998 and 2018 and finished runners-up to Argentina in 2022 after Mbappé scored a hat-trick in the final.

Senegal continued to push rather than retreat, and Mbaye’s angled strike in the fifth minute of stoppage time briefly revived the contest. The response was immediate. A minute later, Mbappé struck from distance, lifting the ball beyond Édouard Mendy and under the crossbar to seal the result and complete one of the defining individual performances of the opening round.

The scoreline was comfortable by the end, but Senegal’s display offered evidence that Group I will not be straightforward. Their first-half organisation, speed in transition and willingness to press France high suggested they remain capable of troubling Iraq and Norway in their remaining fixtures. The final margin owed as much to France’s superior finishing as to any sustained early control.

France’s performance raised familiar questions even in victory. The defence was stretched before the break, Mike Maignan was beaten late, and the midfield took time to impose itself. Yet the second-half response reinforced why Deschamps’ team remain among the tournament favourites: few sides possess the same capacity to change a game through one tactical adjustment and one elite forward.

Mbappé’s numbers now frame France’s campaign. At 27, he has already moved past several of football’s most celebrated World Cup scorers and is two goals short of Klose’s record. His latest milestone came in his 99th appearance for France and added another layer to a tournament career that began with the 2018 title and expanded with the 2022 Golden Boot.

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By K Raveendran

The US-Iran deal marks a genuine easing of one of the most dangerous geopolitical shocks to hit the energy market, but it should not be mistaken for a reset button. The immediate risk of a military breakdown has declined, and that matters for every stakeholder: Washington, Tehran, Gulf producers, Asian importers, shipping insurers and consuming economies already battling inflation. Yet the oil market that existed before the war cannot simply be restored by diplomatic signature. The risk premium has not vanished. It has changed its structure, moving from the visible fear of missiles, mines and naval confrontation to the less dramatic but equally consequential uncertainties of compliance, sequencing and trust.

Before the war, oil prices were already showing a downward tendency. Slowing demand growth, stronger non-OPEC supply, the gradual cooling of speculative positioning and concerns over the durability of consumption in China and Europe had all placed pressure on crude. That bearish environment has not disappeared, but it has been overlaid by a new political memory. Traders, refiners and governments have now priced in the fact that the Strait of Hormuz can again become a pressure point at short notice. That experience has value in the market, and value in oil markets usually translates into a premium.

The most optimistic reading is that the deal opens the way for flows through Hormuz to recover more strongly than many had expected. If sanctions relief proceeds and the ceasefire holds, volumes could rise towards 14 million barrels per day by January, supported by the return of Iranian exports, greater confidence among shipowners and a gradual retreat of the geopolitical premium. That would be a major improvement from the wartime disruption and would ease pressure on import-dependent economies. It would also reduce the urgency of emergency stock releases, shipping escorts and costly rerouting. But even this constructive scenario does not imply a return to pre-war pricing. It implies a transition from acute crisis pricing to conditional normalisation.

The distinction is important. Markets do not only price today’s physical barrels; they price the probability that tomorrow’s barrels may not arrive. A ceasefire can lower the probability of immediate disruption, but it cannot erase the fact that the region remains crowded with unresolved flashpoints. Lebanon remains one of them. Any escalation involving Iranian-aligned actors, Israel, or Western military assets could quickly test the understanding behind the deal. Even if Tehran and Washington intend to hold the line, regional allies and proxies may not interpret restraint in the same way. Energy markets are particularly sensitive to such ambiguity because a small perceived threat to chokepoint supply can have an outsized impact on price expectations.

Sequencing is another weakness. The deal may be positive in principle, but its durability depends on who moves first, how quickly sanctions are lifted, how nuclear-related commitments are verified, and how maritime guarantees are monitored. If Iran expects immediate economic relief while Washington expects staged compliance, friction is inevitable. If shipowners and insurers believe legal waivers are reversible, they will move cautiously. If banks fear secondary penalties, oil trade will resume more slowly than the political language suggests. Physical flows can recover only when the commercial ecosystem around them feels protected. Tankers, letters of credit, insurance cover, port access and refinery procurement decisions all require confidence that the arrangement will survive beyond the next diplomatic dispute.

That is why the market response is likely to be uneven. The first phase is relief. Prices fall from panic levels as traders remove the most extreme war scenarios. The second phase is scepticism. Buyers ask whether barrels can actually move, whether sanctions waivers are enforceable, whether insurance costs fall, and whether Gulf shipping lanes are secure enough for normal scheduling. The third phase is adjustment. If cargoes move consistently and political messaging remains disciplined, the premium compresses further. But compression is not elimination. The war has created a new baseline of caution.

For Gulf producers, the deal is both stabilising and complicated. It lowers the risk of a regional conflict that could damage infrastructure and trade routes, but it also brings additional Iranian supply into a market already attentive to balance. If Iranian exports rise quickly, other producers may need to calibrate output more carefully to avoid a renewed price slide. The pre-war downward tendency in crude prices could reassert itself if demand remains soft and inventories rebuild. But because the market is no longer operating in a clean macroeconomic frame, every bearish signal will be filtered through geopolitical risk. That makes price formation more volatile than before.

For Asian economies, particularly large importers like India, the deal offers breathing space rather than comfort. Lower risk of immediate conflict helps inflation management, external balances and currency stability. Refiners gain optionality if Iranian grades become more available. Freight and insurance costs may ease. But governments will be reluctant to assume that the Hormuz risk has permanently receded. Strategic reserves, diversified sourcing and long-term supply contracts will remain central policy tools. The lesson of the crisis is not merely that diplomacy can reopen flows; it is that dependence on a narrow maritime corridor remains a structural vulnerability.

For Iran, the economic upside is clear. Access to oil revenue, banking channels and transport services could provide relief after prolonged pressure. But the political bargain is demanding. Tehran will need to show enough compliance to keep the deal alive while avoiding the domestic perception that it has conceded under pressure. Washington faces a parallel problem. It must convince allies, markets and domestic critics that sanctions relief does not reward escalation and that nuclear restrictions are credible. Both sides therefore have incentives to claim victory, but not necessarily the same understanding of what victory means. That gap is where future disputes may emerge.

The consensus that oil will not return to pre-war levels rests on this altered psychology. The market has learned that military risk in the Gulf can escalate faster than diplomacy can contain it. It has also learned that the legal and commercial plumbing of sanctions relief is slower than political announcements. Even if flows recover sharply by January, the memory of disruption will remain embedded in freight rates, inventory strategy and hedging behaviour. The market may stop pricing war, but it will continue pricing relapse.

The most credible outlook is therefore neither a full peace dividend nor a renewed crisis premium. It is a middle path: prices ease from wartime extremes, Iranian supply gradually returns, Hormuz traffic improves, and the largest shock scenarios fade. At the same time, a residual premium persists because the ceasefire is exposed to regional escalation, implementation disputes and mutual suspicion. Oil can fall from fear, but it cannot yet fall back into innocence. (IPA Service)

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The jump, flagged at an IBPC Dubai logistics session, reflects a wider disruption in maritime corridors linked to Middle East tensions, fuel-cost volatility, security-risk surcharges and capacity constraints. Paras Shahdadpuri, Governor of IBPC Dubai and Chairman of Nikai Group, said the disruption had tested businesses while reinforcing confidence in the UAE’s ability to respond effectively. “Freight rates have risen from $1,000 to $7,000, putting pressure on businesses, but the speed of response here has helped maintain confidence in uncertain times,” he said.

The impact is being felt most sharply by businesses with thin margins or long replenishment cycles. Consumer electronics, appliances, automotive parts, food products, textiles, building materials and pharmaceutical consignments are among the categories most exposed to higher freight, delayed vessel schedules and tighter booking windows. Importers face a difficult choice: absorb added costs, renegotiate supply contracts, delay shipments or pass part of the burden to consumers.

Dubai’s response has centred on route diversification, customs facilitation and closer coordination among ports, logistics operators, carriers and government agencies. The Green Corridor linking Dubai and Oman has become a critical pressure valve, allowing cargo arriving through Omani ports and airports to move overland through streamlined procedures. Customs declarations through the corridor rose from about 12,000 in March to nearly 100,000 in April, while the value of goods moved increased from Dh1 billion to more than Dh8 billion.

The corridor has helped sustain flows for containers destined for Jebel Ali, goods entering the local market and re-export cargo bound for other destinations. More than 100,000 TEUs have already moved through Green Corridor initiatives, underlining how quickly shippers have adapted to alternative supply routes. Food security shipments and refrigerated cargo movements have remained stable, a key benchmark for a market dependent on uninterrupted imports.

Freight inflation is not confined to the UAE lane. Global container benchmarks have moved higher as peak-season demand started earlier than usual and conflict risk reshaped vessel deployment. The World Container Index climbed to $3,549 per 40ft container in mid-June, while Asia-Europe and transpacific routes also recorded rate increases. Fuel costs, insurance premiums and route deviations have widened the gap between contracted and spot-market pricing.

The UAE’s logistics model has so far avoided the deeper breakdown seen during earlier global supply-chain shocks. Jebel Ali remains central to regional trade, while Fujairah, Khor Fakkan and Omani gateways have gained strategic importance as alternative access points. Cargo owners are mixing sea, land and air solutions to balance cost against reliability, making multimodal logistics a boardroom issue rather than a back-office procurement function.

The pressure comes at a sensitive time for India-UAE trade, which has expanded under the Comprehensive Economic Partnership Agreement that entered into force in 2022. Bilateral trade reached $101.25 billion in FY2025-26, with the UAE ranking as India’s third-largest trading partner and second-largest export destination. Higher freight costs risk eroding some of the tariff and market-access gains achieved through the pact, particularly for mid-sized exporters and distributors operating on fixed price commitments.

Business groups say the crisis is accelerating changes that were already under way. Importers are adding supplier options in Southeast Asia and the GCC, splitting shipments across ports, increasing buffer stocks for critical items and using digital tracking tools to manage delays. Logistics providers are offering blended products that combine ocean freight, bonded trucking and air cargo, while retailers are reviewing inventory cycles before the next seasonal demand peak.

The strain is also prompting fresh attention to contract design. More companies are inserting freight-adjustment clauses, separating shipping costs from product pricing and seeking clearer force-majeure language for geopolitical disruption. For smaller traders, the biggest challenge is cash flow: a container that once required a modest upfront freight payment can now tie up several times more capital before goods even reach the warehouse.

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The incident took place at about 11.40am on Tuesday, around 20 nautical miles south of the Isle of Wight and outside UK territorial waters. The vessel involved was the 40ft sailing yacht Bright Future, carrying retired couple Jane and Alan Kelvey on a passage from the south coast of England towards France. The Russian warship was identified as Admiral Grigorovich, a Black Sea Fleet frigate that has been monitored during repeated movements through waters near Britain and northern France.

The Ministry of Defence said the shots were not aimed at the yacht and appeared to have been fired to prevent a possible collision after attempts to make contact. The frigate was assessed to have been drifting rather than under normal power at the time, raising the possibility that it had suffered an engine issue or was otherwise unable to manoeuvre freely.

Moscow said the yacht had been on a dangerous course and had come within about 150 metres of the frigate. Its defence ministry said the warship’s crew attempted radio contact, used signal flares and sounded warnings before firing small-arms shots in line with maritime safety procedures. The yacht’s crew disputed suggestions that they had created a collision risk, saying they altered course after hearing horn blasts and that the firing felt unnecessary.

Jane Kelvey described the episode as frightening but said she did not believe their lives were in immediate danger. The couple reported hearing several blasts followed by four or five shots. They continued towards Cherbourg, where they were later spoken to by French authorities as officials pieced together the sequence of events.

The incident quickly reached the political level. Prime Minister Keir Starmer, speaking from the G7 summit in France, described the episode as reckless and deeply concerning, while stressing that the immediate assessment did not point to a deliberate attack on the yacht. Defence officials treated the case as isolated, though they acknowledged the risks posed by Russian military vessels operating close to heavily used sea lanes.

Royal Navy patrol vessels had been monitoring Russian movements in the area, including Admiral Grigorovich, which has been associated with escort activity around vessels linked to Russia’s sanctioned oil trade. Support was provided to the yacht after the encounter, while naval assets continued to track the Russian frigate’s passage.

The English Channel is among the world’s busiest maritime corridors, carrying commercial shipping, ferries, fishing vessels and leisure craft through a narrow stretch between Britain and continental Europe. The presence of a heavily armed frigate in such waters increases the chance that ordinary navigation errors, equipment failures or poor visibility can develop into politically sensitive incidents.

Admiral Grigorovich is a 125-metre frigate equipped with a naval gun, missile systems and a helicopter deck. Its operations near western Europe have drawn attention because Russian naval deployments have increasingly intersected with sanctions enforcement, undersea infrastructure protection and NATO maritime surveillance since the invasion of Ukraine.

The episode followed a separate UK operation involving a tanker suspected of being part of Russia’s shadow fleet, the network of vessels used to move oil while avoiding western restrictions. British officials said there was no evidence linking that operation to the warning shots near Bright Future, but the timing added to the atmosphere of mistrust between London and Moscow.

Opposition figures and defence specialists used the incident to press for stronger maritime readiness, arguing that Russian naval activity around UK waters should be treated as a sustained challenge rather than a sequence of isolated encounters. Government ministers have already committed to higher defence spending and expanded surveillance of critical infrastructure, including pipelines, cables and offshore energy assets.

For sailors, the case underlined the practical hazards of encountering military vessels in busy waters. Standard maritime practice requires vessels to maintain safe distances, monitor radio channels and respond promptly to sound signals, but language barriers, fog, radio silence and uncertainty over a warship’s intentions can complicate decisions in minutes.

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The restriction, issued through the Ministry of Electronics and Information Technology under Section 69A of the Information Technology Act, 2000, follows complaints that groups on the messaging platform were being used to sell, advertise or fabricate claims about leaked question papers. A separate direction requires Telegram to disable, within the country, the editing of already published messages until June 30, a feature investigators say has been exploited to alter posts after publication and mislead candidates about when alleged leak material first appeared.

The National Testing Agency, which conducts NEET-UG, welcomed the move and said the intervention was intended to protect candidates from fraud, impersonation and misinformation before the retest. The agency has also opened an online reporting mechanism for claims linked to fake paper leaks, suspicious social-media groups and attempts to contact candidates with offers of access to the examination paper.

The June 21 test follows the cancellation of the May 3 NEET-UG examination, which affected more than 2.2 million medical aspirants. The original test was annulled after allegations of a question-paper leak and organised cheating led to widening investigations, student protests and criticism of examination governance. The re-examination has become a test of the authorities’ ability to restore confidence in a high-stakes admission system that determines access to medical colleges.

Officials involved in the crackdown have focused on Telegram because of its large channels, rapid forwarding systems and privacy-oriented architecture, which have made it attractive both to legitimate users and to networks selling purported exam material. Investigators have examined groups that allegedly claimed to possess NEET papers, sought payments from anxious candidates and used screenshots of edited posts to suggest advance access to confidential material.

The role of message editing has drawn particular scrutiny. Authorities say some posts were modified after circulation to create the impression that a question paper, answer key or inside information had been available before the examination. That method can fuel panic even where no genuine paper leak has occurred, because altered timestamps and viral screenshots are difficult for candidates and parents to verify quickly.

Cybercrime teams, including the Indian Cyber Crime Coordination Centre, Bihar Police and the Ahmedabad Cyber Cell, have been involved in action against suspected digital fraud networks. Gujarat cyber officials have also arrested two people accused of promising access to NEET papers, underlining that the threat extends beyond one platform and includes paid deception, impersonation and panic-driven extortion.

The government’s decision marks one of the most visible temporary app restrictions since the sweeping blocks imposed on Chinese-linked apps in 2020, though this order is narrower in duration and linked to an examination-security objective. Telecom operators are expected to comply with blocking directions, while app-store availability and platform-level functionality may vary as implementation proceeds.

Telegram has not issued a detailed public response to the order. The platform has faced scrutiny in several countries over alleged misuse by fraud groups, piracy networks and extremist channels, even as it remains widely used for education, business updates, news distribution and community communication.

Civil-liberties groups have criticised the measure as disproportionate, saying a temporary shutdown penalises ordinary users and small businesses that rely on Telegram while leaving deeper vulnerabilities in examination management unresolved. They have called for publication of the blocking order, the reasons cited by the authorities and details of why channel-specific enforcement was judged insufficient.

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By Asad Mirza

The framework peace agreement between the United States and Iran has reduced the immediate risk of a wider regional war. Yet the accord leaves unresolved the central issues that have fuelled four decades of confrontation, making its long-term survival far from assured.

The announcement of a framework peace agreement between the United States and Iran marks one of the most significant diplomatic developments in West Asia in decades. After months of direct military confrontation that disrupted global energy markets, threatened maritime security in the Strait of Hormuz and raised fears of a regional conflagration, Washington and Tehran have chosen negotiation over continued escalation. Yet history suggests that signing a peace framework is considerably easier than implementing one.

While both sides have declared victory, the agreement remains less a comprehensive peace treaty than a political understanding designed to halt hostilities and create space for further negotiations. Whether it ultimately succeeds will depend not only on American and Iranian commitments but also on Israel’s posture, domestic political opposition in both countries, and unresolved questions surrounding Iran’s nuclear programme.

President Donald Trump has presented the agreement as evidence that his administration successfully combined military pressure with diplomacy. He has repeatedly emphasised that the Strait of Hormuz would reopen fully, restoring confidence in global energy markets. The reopening of one of the world’s most important maritime chokepoints has already eased concerns over oil supplies and shipping costs. Indian Prime Minister Narendra Modi has welcomed the agreement, expressing hope that peace and stability would return to West Asia – a region of enormous strategic importance for India’s energy security and expatriate population. However, beyond these immediate gains lies a much more complicated strategic picture. The American position represents a noticeable evolution rather than an outright policy reversal.

For years, successive US administrations insisted that Iran must completely dismantle its nuclear capabilities before meaningful sanctions relief could occur. The present framework appears considerably more pragmatic. Rather than demanding immediate resolution of every contentious issue, Washington has accepted a phased process in which military hostilities end first, while negotiations continue over nuclear verification, sanctions and regional security. This reflects strategic realities.

The recent conflict demonstrated that although American military superiority remains overwhelming, sustaining a prolonged regional war carries significant economic and political costs. Disruptions in the Strait of Hormuz affected global oil markets, while continued military operations risked drawing additional regional actors into the conflict.

Equally important are domestic political considerations. President Trump entered office promising to avoid prolonged overseas wars. Although his administration justified military operations as necessary responses to Iranian actions, public support for an extended conflict remained uncertain. The peace framework therefore allows Washington to claim both military strength and diplomatic success.

Nevertheless, skepticism exists within Republican circles. Some conservatives argue that any sanctions relief could provide Tehran with resources to rebuild its military capabilities. Others question whether Iran can be trusted to comply with future nuclear obligations given previous disputes over international inspections.

Iran’s leadership also portrays the agreement as a victory. Tehran argues that it resisted overwhelming American and Israeli military pressure without surrendering its core strategic objectives. Iranian officials have repeatedly maintained that the country will not abandon peaceful nuclear technology or compromise its sovereignty under coercion.

The reported framework appears to support part of that narrative. Rather than requiring immediate dismantlement of Iran’s nuclear infrastructure, negotiations on enrichment and uranium stockpiles have been deferred to subsequent talks. This allows Iranian leaders to tell domestic audiences that fundamental national interests remain protected while sanctions relief becomes possible through future negotiations. Yet Iran faces its own internal constraints.

Hard-line factions remain deeply suspicious of Washington after decades of sanctions, covert operations and diplomatic breakdowns. Many Iranian conservatives continue to cite the collapse of the 2015 nuclear agreement after the United States withdrew from it during Trump’s first presidency as evidence that American commitments cannot be trusted. Consequently, Tehran is likely to insist upon stronger guarantees before making irreversible concessions regarding uranium enrichment or international inspections.

History casts a long shadow over every US-Iran negotiation. Since the 1979 Iranian Revolution, relations have been characterised by mutual distrust, sanctions, proxy conflicts and periodic military confrontations. Every major diplomatic breakthrough has eventually unravelled under competing domestic politics and shifting strategic priorities.

The Joint Comprehensive Plan of Action (JCPOA) of 2015 initially demonstrated that sustained diplomacy could constrain Iran’s nuclear activities. However, Washington’s withdrawal from the agreement in 2018 fundamentally damaged Iranian confidence in American reliability. Tehran subsequently expanded uranium enrichment while Washington intensified sanctions, creating the cycle that ultimately contributed to the latest confrontation. This historical experience explains why today’s negotiations remain cautious. Neither side wishes to repeat previous failures.

The most significant weakness of the present framework is that it postpones rather than resolves the central nuclear dispute. Reports indicate that Iran’s stockpile of highly enriched uranium remains one of the principal issues awaiting negotiation. Washington continues to demand verified reductions in enrichment capability alongside intrusive international monitoring. Tehran insists that peaceful nuclear enrichment remains its sovereign right under international law. This creates what many analysts describe as an “indivisibility problem.” Neither side can easily compromise on an issue viewed as fundamental to national security.

For Washington, preventing an Iranian nuclear weapon remains non-negotiable. For Tehran, maintaining an indigenous nuclear programme has become closely tied to national prestige and strategic independence. Until these competing objectives are reconciled, the peace agreement rests on fragile foundations.

Even perfect US-Iran cooperation would not automatically stabilise the region. Israel has made clear that its security concerns extend beyond any bilateral American-Iranian understanding. Israeli leaders remain focused on Hezbollah, Iranian regional influence and missile capabilities. Reports indicate that Israeli military operations in Lebanon remain outside the framework agreement, creating the possibility that renewed fighting could undermine broader diplomacy.

Similarly, Iran’s relationships with regional partners – including Hezbollah and other allied groups – remain largely untouched by the current framework. Unless these broader regional security issues are eventually incorporated into future negotiations, new crises could emerge even if Washington and Tehran maintain direct dialogue.

Despite these challenges, there are reasons to believe the agreement may prove more durable than previous efforts. Both governments have experienced the enormous costs of direct conflict. Economic disruption, military expenditures and international diplomatic pressure have created incentives for restraint that did not exist during earlier periods of confrontation.

Furthermore, the agreement appears deliberately incremental. Rather than attempting to solve every issue simultaneously, negotiators have prioritised ending active hostilities before addressing more politically difficult questions. This sequencing may increase the likelihood of gradual progress.

Ultimately, the framework agreement should be viewed not as the conclusion of the crisis but as the beginning of an exceptionally complex diplomatic process.

Its success depends upon sustained political will, rigorous verification mechanisms, credible implementation of reciprocal commitments and careful management of regional tensions. Domestic opponents in both Washington and Tehran remain capable of derailing negotiations, while unresolved nuclear issues continue to pose the greatest long-term challenge.

The agreement has undoubtedly reduced the immediate danger of war and restored hope for regional stability. Yet history warns against excessive optimism. American and Iranian relations have repeatedly oscillated between diplomacy and confrontation, with trust remaining the rarest commodity.

Whether this agreement survives will depend less on the signatures placed upon it than on whether both governments can overcome decades of accumulated suspicion and demonstrate that negotiated compromise serves their national interests better than perpetual confrontation. Only then can this ceasefire evolve into a lasting peace. (IPA Service)

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Brent crude slipped to about $83 a barrel on Tuesday after a sharper fall at the start of the week, while West Texas Intermediate traded near $81. The decline followed confirmation that Washington and Tehran had approved a memorandum intended to extend a 60-day ceasefire, reopen the blocked waterway in phases and create a negotiating track on nuclear and sanctions issues.

The draft arrangement marks the most substantial diplomatic move since the Gulf conflict shut down tanker traffic through the Strait of Hormuz, the narrow channel between Iran and Oman that normally carries close to one-fifth of the world’s oil supply. Its closure had lifted crude above $100 a barrel, disrupted liquefied natural gas cargoes from Qatar and forced major importers in Asia to draw on inventories and emergency supply arrangements.

The Geneva signing is expected to formalise an initial peace accord rather than settle every dispute. The first phase is built around a halt to military operations, a timetable for maritime clearance and the withdrawal of restrictions on commercial vessels. A second phase is expected to focus on Iran’s nuclear programme, including the future of enriched uranium held at or linked to facilities damaged during the conflict.

The uranium question remains the most sensitive element of the accord. International monitors have estimated that Iran held more than 400kg of uranium enriched to 60 per cent, a level below weapons grade but far above the threshold used for civilian power generation. Agency documents have also shown gaps in access to affected facilities and uncertainty over the exact condition and location of some nuclear material after strikes on Fordow, Natanz and Isfahan.

Under the emerging formula, the stockpile would be destroyed, diluted or otherwise rendered unusable for weapons-related purposes under international supervision. The technical annex is expected to define whether the material is removed, blended down inside Iran, converted into another form or held under sealed monitoring until final disposal. That detail will determine whether the accord is seen as a durable non-proliferation step or a short ceasefire mechanism with unresolved nuclear risk.

US President Donald Trump has presented the memorandum as a pathway to restore trade flows and lower energy prices. Iran’s President Masoud Pezeshkian has described the pact as an important step towards stopping the fighting, while signalling that a lasting truce still depends on the final terms. Tehran is expected to seek phased sanctions relief, access to oil revenues and guarantees against renewed military action.

Markets moved quickly because even a partial reopening of Hormuz changes the near-term supply outlook. Before the conflict, roughly 20 million barrels per day of oil moved through the strait. China, India, Japan and South Korea were among the largest destination markets for crude passing through the channel, while Qatar’s LNG exports also depended heavily on the route.

Energy analysts warned that prices may remain volatile even after a signing ceremony. Tanker traffic cannot resume instantly while mines, damaged port facilities, insurance restrictions and naval coordination remain active concerns. Some banks expect flows to rebuild over several weeks, with a larger recovery later in the year if the ceasefire holds and commercial insurers restore cover for Gulf routes.

The sharp fall in oil also reflected weaker physical demand. China’s crude imports have fallen sharply, while higher US exports and softer refinery margins have reduced the immediate pressure on buyers. That has allowed traders to price in a faster easing of the wartime premium, although any delay in the Hormuz reopening could quickly reverse part of the decline.

Saudi Arabia and the UAE have pipeline routes that bypass Hormuz, but those alternatives cannot replace the full volume normally carried by tankers through the strait. Saudi Aramco’s East-West pipeline to the Red Sea and the UAE’s link to Fujairah provide important flexibility, yet spare capacity is limited and unevenly available. Iran’s own Jask route has remained small by comparison.

The accord also carries wider financial implications. Lower crude prices would ease pressure on fuel import bills, airline costs and inflation expectations across oil-consuming economies. Equity markets responded positively to the prospect of reduced energy disruption, while gold and other safe-haven assets remained supported by doubts over implementation.

Gulf governments are expected to press for predictable shipping guarantees before declaring the crisis over. Commercial carriers will need clarity on naval escort rules, port access, sanctions exposure and liability before returning large fleets to the route. A rushed reopening without synchronised security arrangements could leave the market exposed to renewed disruption.

For Tehran, the Geneva accord offers relief from military pressure but carries domestic political risk if nuclear concessions are viewed as excessive. For Washington, the agreement offers a chance to cap a costly conflict and reduce energy-market strain, but failure to verify the uranium provisions would expose the deal to criticism from allies and opponents of engagement with Iran.

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