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    US economy grows a sluggish 1.5% second-quarter with inflation remaining stubbornly high
    Gold rises Rs 1,000 to Rs 1.48 lakh/10g on fresh retail buying
    DFS Launches Protection & Indemnity Insurance Product under Bharat Maritime Insurance Pool (BMIP)
    Investec Selects Infosys Finacle SaaS Platform on Microsoft Azure for Digital Banking Transformation
    Kotak Securities Earns Great Place to Work® Certification and Recognition Among India's Best Workplaces™ in Investments 2026
    India rises from 82nd to 57th in global rankings, in structural and pro-competitive reforms: Report by Competere Foundation
    Aadhaar enrolment in Manipur has reached 87-88 pc: Officials
    IndoStar Capital Finance Limited Q1FY27 Disbursements ₹ 1,235 crore up 44% vis-à-vis Q1FY26
    Global gold demand flat at 1,269 tonnes in June quarter, says WGC
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    CCI approves amalgamation of Go Digit Infoworks Services, holding company of Go Digit General Insurance Ltd, with Go Digit General Insurance Ltd, such...
    CCI approves acquisition of units of Oaktree capital group Holdings, L.P. (OCGH), and Oaktree Equity Plan, L.P. (OEP) by Brookfield Asset Management L...
    Assam Exports First International Consignment of Purabi Ice Cream to Bhutan
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    July 30, 2026
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    Economic growth and persistent inflation shaped slower output, import pressures, and continued interest-rate restraint despite resilient consumer spending.
    United States economic growth slowed in the second quarter as increased imports reduced gross domestic product growth, despite stronger consumer spending and business investment linked to artificial intelligence. The preferred inflation measure moderated but remained above the central bank's target, with core consumer prices showing limited change. The benchmark interest rate was retained for a fifth consecutive meeting, though some regional presidents supported an increase to address elevated inflation. Employment growth and consumer spending continued to support economic resilience amid high living costs and energy-price pressures.
    July 30, 2026
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    Gold market volatility reflects retail buying, global price trends, currency movements, and weaker domestic demand linked to higher customs duty.
    Gold prices rose on fresh buying by jewellers and retailers amid firm international trends, while silver prices declined. Improved domestic demand and a pullback in the US dollar supported gold, though a stronger rupee limited further gains. India's gold demand declined year-on-year during April-June, attributed to seasonally subdued sales, higher customs duty and an appeal to reduce purchases. Global gold demand remained broadly unchanged, while precious metals were expected to remain volatile and range-bound.
    July 30, 2026
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    Protection and indemnity insurance expands domestic maritime risk coverage for third-party liabilities and strengthens self-reliant insurance capacity.
    Bharat Maritime Insurance Pool has introduced a sovereign-backed Protection & Indemnity insurance product to cover third-party maritime liabilities, including crew and cargo claims, pollution liability and wreck removal. The product expands the pool beyond cargo and hull war-risk coverage and is supported by combined indemnity capacity and a port-correspondent network. The pool is intended to maintain uninterrupted maritime war-risk insurance, build domestic underwriting capacity, strengthen maritime risk management, reduce foreign-market dependence and promote self-reliance in specialised insurance solutions.
    July 30, 2026
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    Cloud-native digital banking transformation integrates lending, cash management and liquidity tools while supporting scalable, resilient and compliant operations.
    Digital banking transformation through a cloud-native software-as-a-service platform entails migration from legacy systems to integrated deposits, lending, virtual account management and liquidity-management capabilities. Real-time data, artificial intelligence foundations, open APIs and event-driven architecture are intended to support digital banking products, corporate cash management and operational agility. Liquidity tools are designed to provide visibility and control over cash positions and working capital. The implementation is intended to deliver scalability, resilience, security and high availability while assisting regulatory compliance; projected benefits remain subject to risks and uncertainties.
    July 30, 2026
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    Workplace culture recognition highlights continued investment in employee wellbeing, inclusion, learning, collaboration and growth at a stockbroking firm.
    Workplace culture recognition was awarded to Kotak Securities through Great Place to Work Certification for a second consecutive year and inclusion among India's Best Workplaces in Investments 2026. The recognition followed assessment of employee feedback, workplace practices and organisational culture, reflecting employee trust, engagement and belonging. The company states that it will continue initiatives supporting employee wellbeing, learning and development, inclusion, collaboration and growth.
    July 30, 2026
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    Pro-competitive reforms strengthen market conditions through competition policy, investment review, trade facilitation, and reduced international regulatory barriers.
    Structural and pro-competitive reforms between 2010 and 2023 are assessed as reducing market distortions and strengthening competitiveness. The assessment covers property-rights protection, domestic competition and international competition, including the Goods and Services Tax, Insolvency and Bankruptcy Code, regulatory improvements and trade-facilitation modernisation. Further priorities include evidence-based competition policy, consumer-welfare review of sector-specific investment restrictions, and cooperation to address international regulatory barriers.
    July 30, 2026
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    Aadhaar enrolment access expands through a new service centre, with coordinated efforts focused on improving young children's coverage.
    Aadhaar enrolment in Manipur has reached approximately 87-88 per cent, with comparatively lower coverage among children aged 0-5 years. The first Aadhaar Seva Kendra in Imphal has been inaugurated to expand access to enrolment and Aadhaar-related services. The State Government is coordinating with welfare and health departments, hospitals and UIDAI to improve young children's enrolment, alongside services available through Deputy Commissioners' offices and authorised enrolment centres.
    July 30, 2026
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    Secured retail lending growth accompanied enhanced credit controls, digital lending processes, and branch expansion by a middle-layer non-banking finance company.
    IndoStar Capital Finance Limited, a middle-layer non-banking finance company registered with the Reserve Bank of India, reported growth in secured used-vehicle finance and micro loans against property for the quarter ended June 30, 2026. It reported higher disbursements, assets under management and net interest income, alongside a lower weighted average cost of funds. The company also stated that it strengthened underwriting, customer-selection filters, scorecards and early-warning systems, while advancing electronic lending processes and expanding its branch and micro-loans-against-property network.
    July 30, 2026
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    Gold demand trends show central bank buying and OTC investment offsetting weaker ETF and jewellery demand.
    Global gold demand remained broadly unchanged during the April-June quarter, with reduced gold exchange-traded fund, bar and coin investment offset in part by over-the-counter investment supported by Asian investors. Central banks and official institutions increased net additions to gold reserves, while high prices reduced jewellery volumes and encouraged demand for lighter products. Total supply was unchanged as increased mine production was offset by lower recycling. Investment is expected to drive future demand, while high prices may continue to constrain jewellery demand and recycling.
    July 30, 2026
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    Sports infrastructure PPP framework enables private stadium operation while requiring free coaching, child protection compliance, and student performance tracking.
    The PPP framework permits private operators to modernise, operate and maintain school sports stadiums at their own cost, while providing free organised sports training to enrolled students. Operators may commercially offer paid coaching and facilities to external users outside school hours, subject to student-related obligations. Selection is based on technical eligibility and detailed evaluation of sports, PPP, operational and technology capabilities. Agreements have an initial five-year term, with possible extension based on performance, mutual consent and public interest. Child-protection compliance, bank-routed transactions and disqualification for insolvency or statutory and child-safety violations apply.
    July 30, 2026
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    Quarterly financial reporting highlights operational growth, FDA inspection compliance, product integration, and prior insolvency proceeds in pharmaceutical operations.
    Quarterly financial reporting records revenue growth and improved EBITDA performance across CDMO, Complex Hospital Generics and Consumer Healthcare operations. CDMO growth was linked to order inflows, higher capacity utilisation, pricing discipline and commercial expansion, while quality compliance included an Establishment Inspection Report for the Sellersville facility and continued Zero Official Action Indicated status. The prior-year exceptional item related to one-time insolvency proceeds from a supplier claim filed before the NCLT. Consumer Healthcare growth was attributed to power brands, e-commerce, premiumisation, pricing and cost optimisation.
    July 30, 2026
    Show AI Summary
    Proposed e-Way Bill enhancements remain on hold, with no production changes required pending further communication.
    Proposed e-Way Bill enhancements have been kept on hold until further notice. Stakeholders are not required to make production-environment changes pursuant to the earlier advisories concerning those enhancements. The related advisories and FAQs are to be withdrawn from the GST Portal pending further communication.
    July 30, 2026
    Show AI Summary
    Innovation-led industrial growth promotes deep-tech investment, startup commercialisation, technology-enabled MSMEs, quality manufacturing and global market expansion.
    Innovation-led industrial growth is linked to deep technology, research and development, skilled manpower, startups, MSMEs and globally competitive manufacturing. Public initiatives include long-term risk capital for emerging technologies, affordable computing capacity and semiconductor investment support. Startups are encouraged to move from prototypes to commercialisation through industry adoption and early domestic investment. Manufacturing and MSME policy emphasise technology adoption, automation, productivity, branding and uncompromising quality. Free Trade Agreements are presented as supporting global market access and export expansion.
    July 29, 2026
    Show AI Summary
    Fraudulent Aadhaar enrolment allegations involve forged supporting documents, misuse of operator credentials, remote access, and continuing investigation.
    Forgery of Indian identity and supporting documents is alleged in an interstate racket using false birth, domicile and school certificates to obtain Aadhaar cards for foreign nationals. The racket allegedly misused authorised Aadhaar enrolment operator login credentials and used virtual private networks and remote access to enrol applicants. The alleged mastermind was arrested, and investigation, including proposed custodial interrogation, remains ongoing.
    July 29, 2026
    Show AI Summary
    Citizenship proof requires more than identity, tax, electoral or banking records when nationality remains unestablished.
    Voter identity cards, Aadhaar cards, PAN cards and bank-account records were treated as non-conclusive proof of Indian citizenship. The petitioner and detainee were required to establish citizenship under the Immigration and Foreigners Act, 2025, and an appeal against deletion from electoral rolls did not itself satisfy that burden. The inability to identify the burial locations of the detainee's parents prevented proposed DNA-based verification and supported an adverse inference concerning their citizenship.
    July 29, 2026
    Show AI Summary
    Corporate Mitra Scheme builds local compliance professionals to strengthen MSME regulatory, financial, taxation, accounting and governance support.
    The Corporate Mitra Scheme develops qualified and accredited para-professionals to provide MSMEs with accessible, affordable compliance and business-support services. Corporate Mitras are intended to assist enterprises with regulatory compliance, finance, taxation, accounting and governance-related requirements, enabling MSMEs to focus on innovation, expansion and growth. IICA Shillong serves as the nodal agency for Northeast regional coordination, stakeholder liaison, promotion and awareness, with regional participation encouraged through reserved course seats and a fee concession.
    July 29, 2026
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    Amalgamation of Go Digit Infoworks with Go Digit General Insurance approved, with the general insurer continuing as surviving entity.
    The Competition Commission of India approved the amalgamation of Go Digit Infoworks Services Private Limited, the holding company of Go Digit General Insurance Limited, with Go Digit General Insurance Limited as the surviving entity. Infoworks has no present market-facing business activities. Go Digit General provides general and health insurance products and services in India, with a specialised focus on general insurance.
    July 29, 2026
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    Competition approval enables Brookfield's indirect acquisition of Oaktree entities, combining alternative investment management businesses.
    Competition approval was granted for Brookfield Asset Management Ltd. to indirectly acquire units in Oaktree Capital Group Holdings, L.P. and Oaktree Equity Plan, L.P., resulting in the acquisition of the Oaktree operating group of entities. Brookfield Asset Management is a global alternative asset manager, while the Oaktree group provides alternative investment management services.
    July 29, 2026
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    Processed dairy exports to Bhutan expand through compliance support, market access facilitation, and planned diversification of longer-shelf-life products.
    Processed dairy exports from Assam to Bhutan commenced with a Purabi Ice Cream consignment exported by North East Dairy and Foods Limited and manufactured through Assam's cooperative dairy network. The Agricultural and Processed Food Products Export Development Authority supported export documentation, regulatory compliance, market access and stakeholder coordination. The initiative seeks to expand value-added dairy exports from the North Eastern Region, with plans to introduce longer-shelf-life products and increase exports according to market demand.
    July 29, 2026
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    Financial-market depth requires reliable liquidity, risk transfer, transparent products and shared institutional responsibility for resilient long-term financing.
    Financial-market depth requires reliable liquidity and price discovery, efficient risk distribution, and diverse, meaningful participation across market conditions. Government and corporate bond markets, money markets, and foreign exchange and derivative markets should channel long-term savings into investment and enable management of interest-rate, currency and credit risks. Product innovation must serve genuine needs and be supported by suitability assessments, transparent disclosure, fair pricing, independent valuation and user risk-management capacity. Regulators, market institutions, issuers, investors and infrastructure providers share responsibility for resilient, transparent and trusted markets.

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      More evacuations are ordered as another wildfire breaks out in Los Angeles area

      January 10, 2025

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      Los Angeles, Jan 10 (AP) More evacuations were underway across Los Angeles on Thursday as another fire broke out.

      The Los Angeles Fire Department issued orders Thursday afternoon for what's known as the Kenneth Fire. The fire is burning near the West Hills neighbourhood that is packed with homes in the San Fernando Valley.

      More than 4,000 structures have been destroyed in the Eaton Fire in the Los Angeles area, as thousands more have burned in the Pacific Palisades community, fire officials said Thursday.

      Los Angeles County Fire Chief Anthony Marrone said structures could include homes, apartment buildings, commercial buildings or even vehicles.

      Firefighters aided by calmer winds saw the first signs of successfully beating back the deadly and devastating wildfires Thursday, though the fires still burned out of control in and around Los Angeles as the enormity of the devastation started to come into focus with haunting scenes of destruction.

      Dozens of blocks were flattened to smoldering rubble in scenic Pacific Palisades. Only the outlines of homes and their chimneys remained. In Malibu, blackened palm strands were all that was left above debris where oceanfront homes once stood.

      At least five churches, a synagogue, seven schools, two libraries, boutiques, bars, restaurants, banks and groceries were lost. So too were the Will Rogers' Western Ranch House and Topanga Ranch Motel, local landmarks dating to the 1920s. The government has not yet released figures on the cost of the damage or specifics about how many structures burned.

      AccuWeather, a private company that provides data on weather and its impact, estimated the overall damage could reach USD 57 billion.

      City leaders were encouraged Thursday after firefighters made significant gains at slowing the spread of the two biggest fires that had ignited block after block from Pacific Palisades to inland Altadena, a community near Pasadena.

      Crews also knocked down a blaze in the Hollywood Hills, allowing an evacuation to be lifted Thursday. The fire that sparked up late Wednesday near the heart of the entertainment industry came perilously close to igniting the famed Hollywood Bowl outdoor concert venue.

      “While we are still facing significant threats, I am hopeful that the tide is turning,” Los Angeles County Supervisor Kathryn Barger said Thursday.

      Water dropped from aircraft helped fire crews quickly seize control of the fires in the Hollywood Hills and Studio City, Los Angeles Mayor Karen Bass said. Much of the widespread destruction occurred Tuesday after those aircraft were grounded due to high winds.

      Wind gusts were expected to strengthen Thursday evening through Friday morning, with another round of strong winds expected early next week, raising concerns that the conditions could worsen, the National Weather Service said.

      But Thursday's daytime forecast provided a window for firefighters — including crews pouring in from neighboring states and Canada — to make progress in reining in blazes that have killed at least five people and caused thousands of people to flee their homes.

      Los Angeles Fire Department Capt. Erik Scott said firefighters were able to keep the Hollywood Hills blaze in check because “we hit it hard and fast and Mother Nature was a little nicer to us.” Fire officials said Thursday that they don't yet know the cause of the fires but are actively investigating.

      Wind fuels the fires Earlier in the week, hurricane-force winds with gusts up to 80 mph (129 kph) blew embers, igniting the Southern California hillsides.

      Thousands of homes, businesses and other structures have been destroyed in those blazes, known as the Palisades and Eaton fires. Los Angeles Fire Chief Kristin Crowley said the Palisades Fire alone has burned thousands of coastal structures.

      Right now, it's impossible to quantify the extent of the destruction other than “total devastation and loss,” said Barbara Bruderlin, head of the Malibu Pacific Palisades Chamber of Commerce.

      “There are areas where everything is gone, there isn't even a stick of wood left, it's just dirt,” Bruderlin said.

      The five deaths recorded so far were from those two fires. Cadaver dogs and search crews are searching through rubble and the death toll is expected to rise, Los Angeles County Sheriff Robert Luna said.

      Anthony Mitchell, a 67-year-old amputee, and his son, Justin, who had cerebral palsy, were waiting for an ambulance to come, but they did not make it out, Mitchell's daughter, Hajime White, told The Washington Post.

      Shari Shaw told KTLA that she tried to get her 66-year-old brother, Victor Shaw, to evacuate Tuesday night but he wanted to stay and fight the fire. Crews found his body with a garden hose in his hand.

      On Thursday, recovery crews pulled a body from rubble of what was a beachfront residence in Malibu on the scenic Pacific Coast Highway. A charred washer and dryer were among the few things that remained.

      While the two main fires were no longer spreading significantly, both remained at 0 per cent containment, officials said.

      In Pasadena, Fire Chief Chad Augustin said Wednesday that the city's water system was stretched and further hampered by power outages, but even without those issues, firefighters would not have been able to stop the fast-moving blaze because of the erratic wind gusts.

      Still, questions have been raised about why some hydrants ran dry and what caused the water system to buckle when it was needed most.

      180,000 people are ordered to evacuate In Pacific Palisades, a hillside area dotted with celebrity homes, block after block of California Mission Style homes and bungalows were reduced to charred remains.

      Roughly 180,000 people are under evacuation orders, and the fires have consumed about 45 square miles (117 square kilometers) — roughly the size of San Francisco. The Palisades Fire is already the most destructive in Los Angeles' history.

      At least 20 arrests have been made for looting, and the city of Santa Monica declared a curfew Wednesday night because of the lawlessness, officials said. Luna said to protect properties national guard troops would be stationed near the areas ravaged by fire and a curfew was expected to go into effect from 6 p.m. until 6 a.m., starting as soon as Thursday.

      Actors lost homes Flames destroyed the homes of several celebrities, including Billy Crystal, Mandy Moore and Paris Hilton.

      Jamie Lee Curtis pledged USD 1 million to start a “fund of support” for those affected by the fires that touched all economic levels from the city's wealthy to its working class.

      A longer fire season The main fires grew rapidly in different areas that had two things in common: densely packed homes in places that are choked with dry vegetation that was primed to burn. Flames moved so quickly that many barely had time to escape.

      California's wildfire season is beginning earlier and ending later due to rising temperatures and decreased rainfall tied to climate change, according to recent data.

      Dry winds, including the notorious Santa Anas, have contributed to warmer-than-average temperatures in Southern California, which has not seen more than 0.1 inches (2.5 millimeters) of rain since early May.

      Picking up the pieces with nowhere to go Robert Lara sifted through the remains of his home in Altadena on Thursday with tears in his eyes, hoping to find a safe containing a set of earrings that once belonged to his great-great-grandmother.

      “All our memories, all our sentimental attachments, things that were gifted from generation to generation to generation are now gone,” he said.

      His mother and uncle lost their homes, too.

      “I haven't slept for two whole days now, and I keep asking myself, What do I do? Where do I start?'” he said. “We're lost.” (AP) GSP

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