Headline inflation drops to 2.8% in May while core inflation stays above 4% for fourth month
A leading ratings agency reported headline inflation based on consumer price index fell to 2.8 percent in May 2025, driven by declining food inflation. However, core inflation excluding food and fuel has risen above four percent for four consecutive months, though remaining below the decadal trend. The agency noted that rising core inflation indicates strengthening domestic demand but attributed most recent increases to global economic volatility rather than domestic factors. Gold prices, which react to global signals, distort domestic price signals in India's core inflation index due to higher weighting compared to other countries, potentially causing misinterpretation of economic indicators.

Enforcement Directorate raids dozen locations over police constable recruitment scam involving paper leaks and money laundering
The Enforcement Directorate conducted multi-state raids in connection with a money laundering investigation into an alleged scam in the recruitment of police constables during 2023. At least a dozen locations were searched across multiple states under the Prevention of Money Laundering Act. The examination aimed to fill 21,391 vacancies and attracted over 18 lakh aspirants but was cancelled following allegations of paper leaks. An inter-state gang allegedly generated illicit funds by leaking exam papers and selling them to candidates, using the proceeds to create personal assets. The masterminds are reportedly the same individuals involved in the 2024 examination paper leak scandal.

New meme coin project raises $1M in presale, plans Layer-2 blockchain and launchpad platform launch
A new meme coin project has raised over $1 million in its presale phase, with tokens initially priced at $0.001 and currently at $0.0011. The project plans to launch a Layer-2 blockchain specifically for meme coins and a dedicated launchpad platform. Meanwhile, an established meme coin trades around $0.000012 with modest gains, while another major meme coin faces declining whale confidence and reduced derivative positions. The newer project has announced exchange listings and a token giveaway worth $777,000 to boost community engagement.

ED admits no authority to seal locked premises during PMLA searches under Section 17
The Enforcement Directorate informed the Madras High Court that it lacks authority to seal premises found locked during searches under the Prevention of Money Laundering Act. The statement came during hearings on petitions filed by a film producer and businessman challenging ED's search and sealing actions at their properties. While acknowledging power under Section 17 of PMLA to break open locks, the Additional Solicitor General stated ED chose not to escalate the situation. The agency was instructed to withdraw notices from the premises and return seized materials. The court reserved orders on interim applications and scheduled the main petition hearing for four weeks later.

Asian markets fall on Middle East tensions and Fed rate cut uncertainty
Asian markets declined Thursday amid Middle East tensions and mixed Wall Street signals. The US President warned of potential direct involvement in the Israel conflict while Iranian leadership rejected surrender calls. Japan's Nikkei fell 1.0%, Hong Kong's Hang Seng dropped 2.1%, and Shanghai Composite lost 0.8%. Oil prices rose on supply disruption fears. The Federal Reserve indicated possible two interest rate cuts this year, though uncertainty around tariffs and inflation remains. US markets were closed for holiday. Fed officials await clarity on tariff impacts before making policy decisions.

State doubles peanut cultivation share to 4.7% with World Bank project boosting yields significantly
The state government is actively promoting peanut cultivation, particularly in a specific region, where production has increased significantly in recent years. The state's share in national peanut cultivation has more than doubled from 2 percent to 4.7 percent between 2013-2016 and present. Under a World Bank-supported agricultural project, the government is developing a dedicated peanut cluster covering seven districts. The state has improved yields from 809 kg per hectare to approximately 1,688 kg per hectare, surpassing the previous national average. The government procures peanuts at minimum support price of Rs 6,783 per quintal through designated agencies across multiple districts.

Digital wealth platform launches academy to train mutual fund distributors amid India's advisor shortage
A digital wealth management platform launched an academy to train mutual fund distributors, addressing India's shortage of qualified advisors. The company partnered with a former mutual fund managing director who has four decades of financial services experience. The initiative aims to improve India's low mutual fund penetration rate of 3% compared to global averages. The academy offers structured certification programs with live instruction, focusing on ethical advisory principles and client relationship building. Industry leaders support the initiative, emphasizing the need for tech-driven platforms to expand capital markets and promote long-term thinking among distributors.

Global engineering company becomes strategic supplier for Swedish automaker's electrification and software-defined vehicle initiatives
A global product engineering company has been selected as a strategic supplier by a Swedish automotive manufacturer known for safety and sustainability innovations. The expanded partnership will focus on product engineering, embedded software solutions, and Product Lifecycle Management services. The engineering company will support operations from multiple global delivery hubs including Sweden, India, Romania, and Poland. This collaboration aims to enhance the automaker's engineering capacity while supporting their ambitions in electrification, software-defined vehicles, and sustainable mobility solutions through the supplier's expertise in automotive transformation and digital engineering capabilities.

Russian President offers to mediate Iran-Israel nuclear dispute while rejecting Ukraine ceasefire conditions
The Russian President offered to mediate between Iran and Israel, suggesting Moscow could help negotiate a settlement allowing Iran to pursue peaceful nuclear programs while addressing Israeli security concerns. He shared proposals with Iran, Israel, and the United States but emphasized decisions remain with the countries' leadership. Russia maintains over 200 workers at Iran's nuclear facilities and has built reactors there. The President praised recent American peace efforts in Ukraine, stating the conflict might not have started under different leadership. He rejected immediate ceasefire offers, making them conditional on halting mobilization and Western arms supplies. Russia continues military operations while claiming to target only military infrastructure, though residential damage has been documented.

India ranks 4th globally with 54 universities in QS World Rankings 2026, up 390% from 2015
India achieved 4th position globally for highest university representation in QS World University Rankings 2026, with 54 universities ranked compared to 11 in 2015, marking a 390% increase. The institution from Delhi secured 123rd rank, leading Indian universities, while the institution from Bombay dropped to 129th position. Three Indian universities ranked in top 200 globally. A private university from Chandigarh achieved 575th world rank and 16th position among Indian institutions. The growth reflects India's emergence as a major higher education hub, with increased research output, patent filings, and international student enrollment over the past decade.

Middle Eastern attack on oil producer raises energy security concerns despite limited price impact from spare capacity
A Middle Eastern nation attacked a major oil-producing country, raising concerns about global energy markets and economic growth. The targeted nation exports 2 million barrels daily, mostly to an Asian buyer at discounted prices due to sanctions. However, oil price impacts remain limited due to significant spare production capacity held by major exporters and substantial emergency reserves. Global oil surplus and declining industrial demand in the Asian market have further cushioned price volatility. The conflict's timing appears politically motivated, potentially aimed at diverting attention from regional humanitarian issues. Economic implications include constrained central bank policies, reduced growth forecasts, and increased shipping insurance costs through strategic maritime chokepoints.

Indian and British commerce ministers finalize Free Trade Agreement during Hyde Park walk, aiming to double bilateral trade to USD 120 billion by 2030
Indian and British commerce ministers concluded Free Trade Agreement negotiations during an informal walk in London's Hyde Park, where the British counterpart treated the Indian minister to chocolate ice cream. The FTA, which began negotiations in January 2022, was formally confirmed on May 6 and aims to double bilateral trade to USD 120 billion by 2030. The agreement includes a Double Contribution Convention preventing duplicate social security taxes for temporary workers. The Indian minister emphasized the deal's benefits for business stability, investment confidence, and joint market opportunities, comparing it to a "good marriage" while addressing concerns about temporary worker provisions during the UK-India Week summit.

Archer Amish Award for Storytellers launches with $25,000 prize for novel "The Way Home"
The inaugural Archer Amish Award for Storytellers was presented at IGF London 2025, with a winner receiving $25,000 for their novel "The Way Home." The UK Culture Minister presented the award, emphasizing cultural connections between nations. The award celebrates contemporary Indian fiction and was created in collaboration with bestselling authors. The ceremony was part of IGF London 2025, marking a decade since a landmark UK visit and celebrating the finalized UK-India Free Trade Agreement. Three finalists competed for the prize, which aims to bring Indian stories to global platforms.

Chinese airline launches co-branded travel card offering free access to scenic locations and restaurant discounts for international visitors.
A major Chinese airline partnered with a city government to launch a co-branded travel card for international visitors. The card provides free access to 14 scenic locations including classical gardens and cultural sites, plus discounts at over 100 restaurants and hotels. The digital payment card uses advanced wallet technology and can be recharged at currency exchange machines or through a mobile app. International travelers can purchase flight and card packages through the airline's website when set to Chinese language mode. Physical cards are collected at the international airport or city terminal upon arrival.

AI search traffic may surpass traditional organic search by 2028, with AI visitors valued 4.4 times higher
A research study by a traffic analysis company found that a question-and-answer platform ranks as the most frequently cited website in AI-powered search overviews. The study indicates AI search traffic may exceed traditional organic search by 2028, with AI search visitors valued 4.4 times higher than regular visitors. The platform's chief revenue officer noted that human-generated answers remain valuable to both users and algorithms. The findings suggest brands appearing in trusted, cited sources are better positioned for long-term visibility and revenue growth in the evolving AI-powered search landscape.

Japanese EV manufacturer appoints first L5 category dealer in India for high-speed electric three-wheelers
A Japanese electric vehicle manufacturer appointed its first L5 category dealer in India, marking expansion into high-speed electric three-wheelers. The Varanasi-based dealership will sell and service the flagship model offering 200km range starting at 3.65 lakh rupees with zero down payment options. The company received over 100 dealership inquiries within two weeks of launch and targets 100 dealers nationwide. The manufacturer encourages existing L3 dealers to transition to L5 segment due to regulatory restrictions on traditional rickshaws in city areas.

Global data analytics company acquires AI-powered insights provider to enhance capabilities across financial services and technology sectors
A global data analytics company acquired a leading AI-powered insights provider to enhance its data analytics and AI capabilities. The acquired firm, founded in 2007 with offices in New York, London and Pune, specializes in combining advanced data and AI tools with domain expertise for clients in financial services, technology and media sectors. The acquisition aims to accelerate client outcomes and expand capabilities in banking, financial services, information services, technology, media and telecom verticals through complementary strengths and increased scale.