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    DRI seizes 15 kg methamphetamine, 4 kg pseudoephedrine, 85 lakh smuggled cigarettes, and 2 drone-dropped Pakistan-made pistols in nationwide operation...
    DRI intensifies crackdown on precious metals smuggling; seizes 15 kg smuggled gold, 20 kg silver and ₹2 crore cash in nationwide operations; 13 ...
    Union Minister of Commerce and Industry Shri Piyush Goyal concludes successful visit to Spain, Belgium, Finland and Estonia; strengthens India's econo...
    Trump wants Iran added to Russia sanctions bill
    HDFC Bank profit rises 5 pc to Rs 19,060 cr in Q1
    Indian-origin woman sentenced to 2 years jail over Covid business loan fraud in UK
    Onion growers welcome agri market near Vadhvan port, urge govt to develop Nashik as export hub
    Vizhinjam port to begin full EXIM operations from Aug 18
    Union Minister of Commerce and Industry Shri Piyush Goyal Engages with Leading Finnish Technology and Industrial Companies to Deepen India–Finland P...
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    MP industrial corporation, Amazon ink pact to accelerate e-commerce exports
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    Pending civil suits, arbitral claims stand abated after resolution plan approved under IBC: SC
    India'€™s forex kitty jumps USD 964 mn to USD 675.15 bn
    Rupee rises 14 paise to close at 96.28 against US dollar
    Office of Economic Adviser to Release Revised Index of Core Industries Series with Base Year 2022–23
    Fourth Edition of IICA’s National Conference on Responsible Business Conduct (NCRBC) 2026 held in New Delhi
    Reliance promoters raise stake by 0.5 pc through Rs 8,500-9,000 cr worth of share purchases
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    July 20, 2026
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    Intelligence-led anti-smuggling enforcement disrupts narcotics, illicit tobacco and cross-border arms trafficking through coordinated seizures and arrests.
    Intelligence-led operations addressed narcotics smuggling, illicit tobacco trade and cross-border arms trafficking. Methamphetamine allegedly smuggled from Myanmar and pseudoephedrine intended for illegal export were seized, with arrests made under the NDPS Act, 1985. An import container falsely declared as carrying plastic storage boxes contained smuggled foreign-made cigarettes. Drone-dropped parcels containing Pakistan-made pistols were recovered near the international border and handed to jurisdictional police for action under the Arms Act, 1959.
    July 20, 2026
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    Precious-metals smuggling enforcement targets concealed gold transport, illicit sale proceeds and airport insider facilitation networks.
    Organised precious-metals smuggling was targeted through intelligence-led operations involving seizures of foreign-origin gold, silver and cash believed to represent sale proceeds, with arrests of persons allegedly connected with possession, transport and facilitation of smuggled goods. The operations addressed concealment in luggage-frame rods, undergarments and specially fabricated vehicle cavities, and included alleged airport-staff assistance in clandestinely removing smuggled gold during passenger transit.
    July 20, 2026
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    India-EU economic cooperation advances through FTA implementation, investment facilitation, digital partnerships, manufacturing collaboration and market-access discussions across Europe.
    India advanced economic engagement with European partners through discussions on trade, investment, technology cooperation, manufacturing, digital infrastructure and market access. The engagements emphasised early signing and implementation of the India-EU Free Trade Agreement, investment protection, geographical indications, regulatory cooperation and professional mobility. Cooperation initiatives included digital payments interoperability, artificial intelligence, advanced manufacturing, clean energy, cybersecurity, fintech, telecom, research and supply-chain resilience. European businesses were encouraged to establish India as a manufacturing, innovation and export hub, including through opportunities for MSMEs, startups and future-oriented sectors.
    July 19, 2026
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    Russian oil purchase tariffs would target major buyers and sanctions-evasion facilitators, with specified energy, nuclear and cooperation exemptions.
    Proposed United States legislation on Russian sanctions would impose tariffs on imports from countries identified as major purchasers of Russian crude oil or natural gas or leading facilitators of Russian oil-sanctions evasion. It provides for periodic reassessment and tariff adjustment based on purchasing behaviour, while exempting specified reduced natural-gas imports, United States uranium purchases for nuclear and medical needs, and certain nuclear and space cooperation. The revised proposal also addresses sanctions-evasion fleets and Chinese support for Russia's defence industrial base.
    July 18, 2026
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    Corporate governance and asset quality improvements accompany stronger banking profitability amid continuing leadership reappointment considerations.
    Banking-sector performance reporting records higher profitability, improved asset quality and lower provisions for bad loans, although operating profit declined and capital adequacy moderated. Corporate governance developments include appointment of a part-time chairman following the former chairman's resignation and concerns about internal practices. The chairman's prior financial-services role was associated with actions against shell companies and ponzi schemes targeting black-money structures. Reappointment of the managing director and chief executive officer remains subject to committee consideration.
    July 18, 2026
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    Covid business loan fraud involved inflated turnover, duplicate applications, personal diversion, and criminal sentencing with recovery action.
    Covid business loan fraud involved false Bounce Back Loan applications based on inflated turnover, duplicate claims, and false declarations that funds would be used solely for business purposes. The loan proceeds were diverted to personal accounts for personal debts, personal finance, stocks and shares, and transfers between company accounts. The borrower pleaded guilty to fraud offences, received a custodial sentence, and faces recovery proceedings for the fraudulently obtained funds under the Proceeds of Crime Act 2002.
    July 18, 2026
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    Onion export infrastructure: growers seek a Nashik export hub, dedicated terminal and logistics link to global markets.
    Onion growers seek development of Nashik as a National Onion Export Hub linked to the proposed agricultural market near Vadhvan port. The proposed framework includes an onion export terminal, grading, sorting, packing, quality testing and customs-clearance facilities, and rail, container and cold-chain logistics. Additional requests include a stable national onion export policy, support for processing industries, direct farmer producer organisation participation in exports, an export promotion cell, and a training, research and export-guidance centre.
    July 18, 2026
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    EXIM operations at Vizhinjam will establish an international cargo gateway while retaining open-access common-user port services.
    Full export-import (EXIM) operations at Vizhinjam International Seaport are scheduled to commence from August 18, transitioning the port from a transshipment hub into an international cargo gateway. The launch is intended to reduce logistics costs, improve supply-chain efficiency, enhance export competitiveness, and support investment and employment. The port will continue as an open-access, common-user facility serving shipping companies on an equal basis.
    July 18, 2026
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    India-Finland technology cooperation expands across digital infrastructure, sustainable manufacturing, research partnerships, investment, and emerging industrial technologies.
    India-Finland cooperation was advanced through discussions on telecommunications, digital infrastructure, electronics manufacturing, research and development, innovation, clean technologies, advanced materials, and technology transfer. Further priorities included smart urban infrastructure, sustainable construction, advanced manufacturing, localisation, industrial machinery, clean industrial solutions, and investment. The engagements also explored EV charging infrastructure and reinforced business-to-business linkages for long-term cooperation in technology, sustainable manufacturing, research, and investment.
    July 18, 2026
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    Alternative oil export routes aim to reduce Iraq's reliance on the Strait of Hormuz through pipeline investment and regional transit.
    Alternative oil export routes from Iraq are being pursued through agreements to develop pipeline capacity that can reduce reliance on the Strait of Hormuz. Planned pipelines would support larger-scale exports through Syria and Turkey and strengthen energy-security options amid disrupted maritime shipments. Their timing and viability remain uncertain because cross-border construction requires substantial development and coordination. Existing overland shipments through Syria offer a temporary, but less efficient and more costly, route to European markets. Iraq has emphasised its preference for long-term investment partnerships over project-based contracting.
    July 17, 2026
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    Consolidated fraud investigation requires specialised inquiry where an investor complaint forms part of an alleged shell-company network.
    A fraud investigation concerning an alleged real-estate investment scheme was transferred to the Serious Fraud Investigation Office because the named company was stated to be part of a wider alleged shell-company network already under its examination. The FIR was not quashed, as the complainant's individual transaction had not been investigated. A single specialised inquiry was considered necessary to prevent fragmented or conflicting investigations into an allegedly indivisible fraud scheme.
    July 17, 2026
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    Foreign exchange market movement strengthens the rupee as equity gains and possible central-bank support offset oil-price pressure.
    Foreign exchange market movement saw the rupee appreciate against the US dollar, supported by positive domestic equity-market performance, lower US Treasury yields and reported possible central-bank intervention. Elevated West Asia tensions, higher global crude-oil prices and cautious foreign investment flows continued to pressure the currency. Market attention remained focused on global developments, crude-oil movements and foreign institutional investment activity, alongside an increase in foreign-exchange reserves.
    July 17, 2026
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    E-commerce export promotion supports Madhya Pradesh businesses through global marketplace access, exporter readiness, and a cross-border export roadmap.
    A memorandum of understanding supports Madhya Pradesh businesses, including MSMEs, entrepreneurs, direct-to-consumer brands, manufacturers, weavers, artisans and producers, in accessing international customers through the Amazon Global Selling programme. The collaboration will improve e-commerce export awareness, exporter readiness and knowledge sharing, while developing a state export roadmap with policy and infrastructure recommendations. It will also identify interventions relating to logistics, access to finance, payment reconciliation and regulatory enablers for cross-border exports.
    July 17, 2026
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    Russian oil purchase tariffs and tighter visa oversight reshape trade exposure and immigration compliance for foreign nationals.
    Proposed trade tariffs on purchases of Russian oil would target specified countries, including India and China, while exempting European purchasers of Russian gas. Separately, tighter United States visa regulations for international students, exchange visitors and journalists would end a long-standing arrangement allowing indefinite residence without government oversight. The reported changes may materially affect foreign nationals, including Indian nationals, through differentiated trade treatment and enhanced immigration compliance requirements.
    July 17, 2026
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    Clean slate doctrine extinguishes uncrystallised operational claims and pending proceedings once an approved insolvency resolution plan becomes binding.
    The clean slate doctrine under the Insolvency and Bankruptcy Code is described as abating or extinguishing pending civil suits and arbitration involving pre-insolvency operational claims that had not crystallised into determinable and quantifiable amounts before resolution-plan approval. Claims must be submitted to and determined by the resolution professional, and only crystallised claims incorporated in the approved plan remain payable under its prescribed treatment. Once final, the creditor list and approved plan bind all stakeholders.
    July 17, 2026
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    Foreign exchange reserves rose as foreign currency assets, gold, Special Drawing Rights and IMF reserve position increased.
    Foreign exchange reserves increased during the reporting week, principally because foreign currency assets rose. Reserve components include foreign currency assets, gold reserves, Special Drawing Rights and the reserve position with the International Monetary Fund. Foreign currency assets, expressed in dollar terms, reflect valuation effects arising from movements in non-US currencies held in the reserves. Gold reserves, Special Drawing Rights and the reserve position with the International Monetary Fund also increased.
    July 17, 2026
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    Rupee exchange-rate movement stabilised after possible central bank intervention, while oil prices and foreign fund flows sustained pressure.
    The rupee strengthened against the US dollar following four declining sessions, reportedly amid possible Reserve Bank of India intervention. Elevated West Asia tensions, higher crude-oil prices and cautious foreign fund flows continued to weigh on the currency, despite consolidation in the absence of major domestic triggers. Market participants were expected to monitor global developments, crude-oil movements and foreign institutional investor activity for the next directional move.
    July 17, 2026
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    Revised Index of Core Industries adopts a new base year, adds Iron Ore, and aligns production measurement methodology.
    The revised Index of Core Industries adopts 2022-23 as its base year and replaces the 2011-12 series. Its weights are derived from the 2022-23 Index of Industrial Production and redistributed pro rata to total 100. Iron Ore is added as a core industry, expanding the basket to nine industries. The Steel Index will use gross production data for consistency with the Index of Industrial Production. In the Coal sector, only Raw Coal is retained; Coal Middlings and Washed Coal are excluded to prevent double counting.
    July 17, 2026
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    Sustainability reporting discipline requires credible disclosures, board-level integration, data assurance and proportionate ESG implementation across business value chains.
    ESG-led responsible business conduct requires sustainability disclosures that are relevant, comparable, evidence-based and verifiable, supported by reliable systems, internal controls, documentation, traceability and independent examination. Sustainability should be integrated into board-level decision-making, fiduciary responsibilities, risk management and long-term enterprise value. Stronger governance, accountability and data-assurance frameworks are needed to address greenwashing, with proportionate reporting, technology and capacity-building supporting implementation across value chains and MSMEs.
    July 17, 2026
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    Promoter shareholding increase through market purchases remains within creeping acquisition limits and signals confidence in long-term growth prospects.
    Promoter and promoter-group shareholding in Reliance Industries Ltd increased by nearly 0.5 percentage points through market purchases during the June quarter. The purchases were reported to be within SEBI creeping acquisition limits, allowing gradual promoter acquisitions without triggering a mandatory open offer where prescribed thresholds are met. The increase may strengthen promoter control and marginally reduce public float, and was characterised as reflecting confidence in long-term growth, earnings trajectory and capital-allocation plans.

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      Elon Musk helped Trump win; now he's looking at Europe, and many politicians are alarmed

      January 7, 2025

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      London, Jan 7 (AP) Fresh from pouring his money and energies into helping Donald Trump win re-election, Elon Musk has trained his sights on Europe, setting off alarm bells among politicians across the continent.

      The Tesla and SpaceX chief executive has endorsed the far-right Alternative for Germany, demanded the release of jailed UK anti-Islam extremist Tommy Robinson and called British Prime Minister Keir Starmer an evil tyrant who should be in prison.

      Many European politicians have been left concerned by the attention. Musk's feed on his social network X is dotted with abusive language — labelling politicians “stupid cretin” and “snivelling cowards” — as well as retweets of far-right and anti-immigrant accounts.

      Andrew Chadwick, professor of political communication at Loughborough University, said Musk is using X “a bit like an old-style newspaper mogul,” to promulgate his political views.

      “We've seen Musk start to align himself much more obviously with an international movement of the far right,” Chadwick said. ”If you look at the kinds of people who Musk himself is boosting on his platform … he's increasingly started to assemble a group of different right-wing influencers, many of them with large followings, and presenting their evidence as a basis for his interventions into European politics.” Musk has inserted himself into politics in Germany, which is headed for a Feb 23 election after centre-left Chancellor Olaf Scholz's fractious three-party coalition government collapsed.

      On Dec 20, Musk wrote on X: “Only the AfD can save Germany,” a reference to the Alternative for Germany party, which is under observation by the domestic intelligence agency for suspected extremism.

      He doubled down on support for the AfD in an article for the Welt am Sonntag newspaper, claiming Germany is “teetering on the edge of economic and cultural collapse.” Later this week Musk is due to hold a live chat on X with AfD co-leader Alice Weidel.

      Scholz's response embodies the dilemma faced by European politicians — should they ignore and let Musk's comments go unchallenged, or engage and risk amplifying them? Scholz has said it's important to “stay cool” over personal attacks, but called Musk's involvement in German politics worrying. In a new year message, Scholz pointedly noted that Germany's way forward “will not be decided by the owners of social media channels” but by German voters.

      French President Emmanuel Macron warned Monday about the risks posed by unchecked power in the hands of tech billionaires and the destabilising impact they could have on democratic institutions.

      “Who could have imagined, 10 years ago, that the owner of one of the world's largest social networks would intervene directly in elections, including in Germany?” Macron said.

      Greek Health Minister Adonis Georgiadis said Musk's behaviour was “troubling and far from amusing.” “Someone cannot simply use their platform, wealth and connections to try to dictate how governments are formed in each nation,” he told Parapolitika Radio. “This is becoming increasingly dangerous.” Musk has increasingly focused on British politics since the centre-left Labour Party was elected in July, calling Starmer an “evil” leader presiding over a “tyrannical police state”.

      Musk's recent focus is on child sexual abuse, particularly a series of cases that rocked northern England towns several years ago, in which groups of men, largely from Pakistani backgrounds, were tried for grooming and abusing dozens of mostly white girls. The cases have been used by far-right activists to link child abuse to immigration and Islam.

      Musk has accused Starmer of failing to bring perpetrators to justice when he was England's director of public prosecutions between 2008 and 2013 — a charge Starmer strongly denies.

      “Starmer must go and he must face charges for his complicity in the worst mass crime in the history of Britain,” Musk tweeted.

      Chadwick said “there's been a hesitancy on the part of the political elite in the UK to engage” with Musk's “incredibly inflammatory remarks.” But Starmer changed tack Monday, condemning “lies and misinformation” and accusing UK Conservative politicians who have echoed some of Musk's points of “amplifying what the far right are saying.” “I enjoy the cut and thrust of politics, the robust debate that we must have, but that's got to be based on facts and truth, not on lies,” the prime minister said.

      Starmer is facing calls to tighten Britain's laws on foreign interference, and governments around the world are under pressure to leave X. Both the UK and German governments say they have no plans to quit the platform.

      Musk's X is under investigation by European authorities attempting to curb hatred, disinformation and other toxic content on social media. The European Union has launched infringement proceedings against X under the bloc's Digital Services Act, and EU spokesman Thomas Regnier said it will look at whether Musk's livestream interview Thursday with the AfD's Weidel gives inappropriate “preferential treatment” to the party during a pre-election period.

      Musk, a self-styled free-speech advocate, is critical of efforts to regulate social media. He has compared British attempts to weed out online misinformation through the Online Safety Act to censorship in the Soviet Union.

      Musk clearly enjoys baiting mainstream politicians on social media, but Chadwick said it “remains to be seen” whether his posting changes public attitudes or helps the causes he champions.

      And the political interventions carry risk for him. His comments are being watched closely by Tesla investors for signs he could be turning off car buyers who don't agree with his politics.

      Tesla is already struggling in Europe, where new registrations for Musk's electronic vehicles fell 13% in the first nine months of 2023, according to auto researcher Jato Dynamics. In Germany, Tesla registrations dropped 44%.

      Jato senior analyst Felipe Munoz said that Musk's outspokenness is rare and risky for the owner of a publicly traded company — though it may pay off in the end.

      “Europe is going to (the) right,” he said, pointing to politicians including France's Marine Le Pen and Italian Premier Giorgia Meloni.

      “Look at what happened in the US. His bet on Trump worked. He is playing the same game in Europe.” (AP) SCY SCY

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