July 28, 2025
Equity Markets Fall Amid Private Bank Profit Drop and Uncertainty Over India-US Trade Deal
Equity markets declined due to significant selling pressure in a major private bank following its quarterly profit report, which revealed a substantial drop in net profit and highlighted stress in its retail commercial vehicle portfolio amid adverse macroeconomic conditions. Uncertainty surrounding a pending bilateral trade deal between India and the United States further dampened investor sentiment. Persistent foreign institutional investor outflows and weak Asian market trends contributed to the downturn. Key technology and telecom firms also experienced declines, while select industrial and financial stocks showed gains. Market analysts noted that the delayed trade agreement and workforce reductions in the IT sector exacerbated negative market sentiment. Overall, the combination of corporate earnings concerns, geopolitical trade uncertainties, and foreign investor withdrawals led to a notable fall in benchmark equity indices.
July 28, 2025
Domestic Currency Gains Slightly Amid US-India Tariff Talks and Dollar Demand Pressure
The domestic currency appreciated slightly against the US dollar amid ongoing US-India tariff negotiations, with limited gains due to continued dollar demand from importers and foreign fund outflows. Despite positive developments in trade agreements between other global partners, the local unit remained stable, opening at 86.43 against the dollar. Foreign institutional investors sold equities significantly, and the country's foreign exchange reserves declined by over one billion USD in the week ending mid-July. Market participants are closely monitoring upcoming US Federal Reserve policy decisions, while crude oil prices rose modestly following eased tariff concerns from recent trade agreements. The equity market showed minor declines alongside these currency and trade developments.
July 28, 2025
Chief Minister's 5-Day Singapore Visit to Boost Port Growth, Tech Innovation, Green Energy, and Sports Partnerships
The Chief Minister of an Indian state is undertaking a five-day visit to Singapore focused on enhancing port-led industrial growth, urban development, and international sports collaboration. Meetings with Singaporean government officials and corporate representatives aim to foster cooperation in energy, technology, industrial innovation, and smart logistics. Discussions include partnerships with aerospace and industrial technology firms, green energy solutions, and aligning sports infrastructure and athlete development with global standards. The visit also involves engagement with academic institutions to promote workforce transformation and culminates in presenting the state's development roadmap at a bilateral business forum. Strategic talks with major port operators are planned to enhance export infrastructure and industrial clusters.
July 28, 2025
Top Officials Meet to Discuss Tariffs, Trade Imbalances, and Fentanyl Controls Ahead of Leader Summit
Top officials from two major economies are scheduled to meet in Stockholm to discuss maintaining current tariff levels and preparing for a potential summit between their leaders later in the year. The talks aim to address longstanding trade imbalances, market access, industrial overcapacity, and chemical controls related to fentanyl production. Previous rounds have resulted in a status quo of tariffs, with the importing country maintaining a 30% rate and the responding country a 10% rate, alongside specific fentanyl-related tariffs. The discussions may also cover broader geopolitical issues, including energy purchases from sanctioned countries and possible security concessions. While tariff reductions are unlikely at this stage, the meeting is viewed as a critical step toward a more comprehensive trade agreement and easing tensions between the two nations.
July 28, 2025
US and EU agree on 15% tariff for most European goods, excluding strategic items, under new trade deal
The United States and the European Union have reached a trade agreement imposing a 15% tariff on most European goods imported into the U.S., reducing the threat of a previously proposed 30% tariff. The deal excludes certain strategic goods from tariffs and involves the EU purchasing significant amounts of U.S. energy and investing heavily in the U.S. However, key issues remain unresolved, including tariffs on steel and pharmaceuticals, and specific details on agricultural tariffs and investment sources. The higher tariffs are expected to increase costs for U.S. consumers and reduce profits for European exporters, potentially slowing economic growth. The agreement maintains market access and provides some stability but leaves uncertainty due to incomplete terms. Reactions vary, with some welcoming the avoidance of escalation and others warning of negative impacts on export industries, particularly automotive companies affected by prior tariffs.
July 28, 2025
US-EU Agree on 15% Uniform Tariff with Key Exemptions to Avoid Trade War and Boost Energy, Investments
The United States and the European Union reached a trade agreement establishing a uniform 15% tariff on most goods to prevent the imposition of higher tariffs that threatened to trigger a trade war. The deal includes commitments by the EU to purchase substantial U.S. energy supplies and increase investments, alongside a major military equipment acquisition. Certain strategic products, such as aircraft, chemicals, generic drugs, semiconductor equipment, and some agricultural goods, will remain exempt from tariffs. The agreement requires further negotiation and approval by EU member states and lawmakers. The framework aims to provide stability and predictability in transatlantic trade, with both parties emphasizing fairness and open market access. The agreement averts imminent tariff imposition deadlines and potential retaliatory measures that could have significantly impacted various sectors on both sides.
July 28, 2025
Passenger Caught Carrying Rs 29.67 Lakh Cash Without Documents Under Suspicion of Hawala Transaction
A passenger traveling on a train was apprehended for carrying approximately Rs 29.67 lakh in cash without valid documentation. The arrest occurred following intelligence about a large sum being transported to another state. Upon inspection, authorities found the cash in the passenger's possession and preliminary inquiries indicated the money was linked to an illegal hawala transaction. The seized funds have been transferred to the Income Tax Department for further investigation.
July 27, 2025
US and EU Agree on 15% Tariff Cap to Prevent Punitive Import Taxes and Retaliatory Trade Measures
The United States and the European Union reached a comprehensive tariff agreement following high-level negotiations aimed at preventing the imposition of punitive import taxes scheduled by the U.S. The deal addresses longstanding trade imbalances and aims to avoid retaliatory tariffs from the EU on American goods. The agreement was finalized shortly before a firm U.S. deadline for tariff enforcement, which had threatened to impose rates up to 30 percent on EU imports. The parties agreed on tariff rates comparable to a recent U.S.-Japan deal, around 15 percent, with no willingness to lower them further. The resolution averts potential economic disruptions affecting a wide range of products, including agricultural goods and industrial items, and reflects ongoing efforts to stabilize transatlantic trade relations amid broader geopolitical and economic negotiations.
July 27, 2025
US and EU Agree on Trade Framework to Avoid 30% Tariffs and Ease Ongoing Trade Tensions
The United States and the European Union reached a trade framework following negotiations between their respective leaders, aimed at addressing ongoing tariff disputes. The agreement was announced shortly before a scheduled deadline for the US to impose tariffs, which had been threatened at rates up to 30 percent. The framework seeks to ease tensions and avoid the implementation of steep tariffs that could impact trade relations. This development follows months of negotiations and threats of tariffs intended to reduce the US trade deficit with key partners. The agreement represents a mutual effort to prevent escalation and promote more stable trade relations between the parties.
July 27, 2025
US and EU trade talks stall over 15% tariff demand, risking higher tariffs and trade tensions by August 1 deadline
The United States and the European Union engaged in critical trade negotiations aimed at resolving disputes over tariffs, with the US insisting on maintaining a minimum 15 percent tariff rate on EU imports. The US threatened to impose a 30 percent tariff if no agreement was reached by the August 1 deadline, while the EU warned of retaliatory tariffs on American goods. Despite ongoing talks involving high-level officials, including the US President and the European Commission chief, no final deal was secured, with fairness and tariff rates remaining key issues. The US Commerce Secretary confirmed the tariff deadline was firm but indicated continued openness to negotiations. Failure to reach an agreement risks escalating trade tensions and increasing costs on a wide range of products between the two major economies.
July 27, 2025
Political coalition challenges Election Commission's citizenship verification under Section 14A, citing voter disenfranchisement risks
A political coalition challenged the Election Commission's Special Intensive Revision (SIR) exercise in Bihar, alleging it functions as an unlawful citizenship test and constitutes disenfranchisement ahead of state elections. They argued the Commission lacks authority to verify citizenship and that the process is rushed, lacking transparency and consultation with political parties. Concerns were raised about removal of millions of voters, including deceased individuals and those with multiple registrations, with claims that the exercise disproportionately affects marginalized groups. The coalition urged the Commission to halt the SIR until after elections, emphasizing that citizenship verification should be conducted by designated authorities through proper procedures. The Election Commission reported receiving enumeration forms from over 91% of voters, identifying significant numbers of deceased, relocated, or duplicate registrants during the exercise. The coalition indicated plans for intensified opposition to the process, asserting it undermines democratic inclusivity.
July 27, 2025
Temple Management Challenges State Ordinance on Shrine Control Under Religious Autonomy Laws
A temple management committee challenged a state government ordinance in the Supreme Court, contesting the transfer of administrative control of a religious shrine to the state. The dispute involves the legality of the government's authority to regulate the shrine's management, raising questions about the balance between state intervention and religious institution autonomy. The case highlights ongoing tensions regarding government oversight of religious entities and the protection of their independent administration.
July 27, 2025
Airline to Boost International Capacity to 40% by 2030 with New Long-Range Aircraft and MRO Facility
A major airline plans to expand its international routes by adding new long-range aircraft to increase its international capacity from 28% to 40% by 2030. The airline recently commenced flights to new European destinations using leased wide-body aircraft and intends to incorporate additional long-range models into its fleet within the next two years. It also aims to enter the maintenance, repair, and overhaul (MRO) sector by establishing a new facility in a key city, capitalizing on growing infrastructure development. Despite challenges such as economic uncertainties, aircraft groundings, and fuel cost volatility, the airline is managing risks through fleet diversification, leasing strategies, and partnerships with original equipment manufacturers.
July 27, 2025
Over 2,700 Government Schools Need Repairs, Rs 254 Crore Pending Approval After Deadly Roof Collapse
Over 2,700 government school buildings in a state require major repairs, with Rs 254 crore allocated for renovations pending approval from the finance department. A recent roof collapse at a government school resulted in seven child fatalities and multiple injuries, highlighting the urgent safety concerns. Reports indicate administrative delays and lack of budget sanctioning have hindered timely repairs. Local authorities faced criticism for quickly dismantling the collapsed structure, raising suspicions of evidence tampering. Political leaders condemned bureaucratic inertia and called for prompt action to address the hazardous conditions. Despite prior warnings and requests to relevant officials about unsafe school infrastructure, no substantial remedial measures have been taken, exacerbating risks to student safety.
July 27, 2025
Transport Corporation Cuts Costs by Buying Electricity via Power Exchange, Targets 15% Green Energy Use
A regional transport corporation has initiated electricity procurement through a power exchange for a key sub-station, aiming to reduce operational costs and enhance sustainability. This transition is projected to save approximately Rs 1 crore annually from a single drawl point in the first year. The corporation consumes around 326 million units of electricity yearly, with power expenses constituting 30 to 35 percent of total operational costs. Agreements have been established with power trading and transmission entities to facilitate this shift. The electricity sourced via the exchange is expected to be more economical than traditional utilities, and the corporation plans to obtain at least 15 percent of its power annually from green energy sources. The power exchange model is being implemented in phases along a major transport corridor, with full commissioning anticipated later in the year.
July 27, 2025
Eight Arrested for Abduction and Forced Religious Conversion Under UP Prohibition Act 2021 Section Rules
Eight individuals were arrested by Uttar Pradesh Police for involvement in an organized gang accused of abducting and forcibly converting a 19-year-old woman to another religion. The arrests followed a complaint alleging abduction and conversion through emotional exploitation, inducements, and coercion. Authorities recovered the victim safely during a joint police and cyber cell operation and registered a case under relevant sections of the Bharatiya Nyaya Sanhita and the Uttar Pradesh Prohibition of Unlawful Religious Conversion Act, 2021. The accused reportedly used explicit videos and recorded conversations to blackmail the victim's family, while two female suspects allegedly assisted in psychological manipulation by influencing the victim's beliefs. Police seized multiple SIM cards, phones, and identity documents linked to the case and continue to search for other gang members still at large.
July 27, 2025
Disabled CAPF personnel to stay in service with pay, promotions, medical care, and benefits under new guidelines
Central Armed Police Forces personnel who suffer permanent disabilities during operations will remain in service, receive their due pay, and be honored, along with a one-time monetary package, according to a government official. A committee led by the CRPF Director General is tasked with recommending measures to relax fitness norms and ensure disabled personnel receive promotions and benefits. Injured personnel will be reassigned to suitable units and continue to receive pay and allowances until retirement. The government plans to provide advanced medical care, including limb replacement surgeries, and financial support from existing schemes or budgets. Efforts will also focus on improving basic amenities for personnel, especially women, in remote and conflict-affected areas. The Ministry of Home Affairs emphasizes the importance of equipping forces with new technology to address evolving security challenges and maintain operational effectiveness.
July 27, 2025
IT Services Giant to Cut 12,261 Jobs, Focus on AI and Workforce Realignment in 2024
A major IT services company plans to lay off approximately 12,261 employees, representing about 2 percent of its global workforce, primarily affecting middle and senior-level staff. The workforce reduction is part of a strategic initiative to transform into a "future-ready organization" by investing in technology, artificial intelligence, market expansion, and realigning its workforce. The company has also implemented reskilling and redeployment programs and will offer impacted employees benefits, outplacement services, counseling, and support. The layoffs are scheduled to occur over the course of the year despite a recent increase in overall employee numbers.
July 27, 2025
Political coalition challenges Election Commission's voter revision exercise under transparency and legal authority concerns
A political coalition challenged the Election Commission's Special Intensive Revision exercise in Bihar, alleging it functions as a citizenship test and lacks legal authority. They criticized the Commission for institutional arrogance, lack of transparency, and hurried timing ahead of state elections. The coalition claimed the exercise risks large-scale voter disenfranchisement, citing removal of millions of voters and inadequate consultation with political parties. They questioned the Commission's refusal to accept common identity documents and disputed data on deaths and voter shifts. The Election Commission reported receiving over 91% of enumeration forms, identifying deceased voters, relocations, and multiple registrations. The coalition urged the Commission to halt the exercise until after elections and anticipated judicial scrutiny of the process.
July 27, 2025
State Launches Massive Tree Planting Drive to Plant 25 Million Saplings in One Day for Environmental Conservation
A state government initiated a large-scale environmental campaign aiming to plant 25 million saplings in one day as part of a broader commitment to plant 100 million saplings over five years. The initiative coincides with a regional environmental festival and includes new budget allocations for green projects focused on forest development and water conservation. The government emphasized the ecological importance of tree planting, linking it to cultural values and historical conservation efforts. Additional measures include the establishment of a museum honoring environmental protectors and the use of drone technology for aerial seeding. The event also featured memorial activities for recent local tragedies and commitments to enhance public safety infrastructure.
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