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    India-EU TTC meet: Goyal says work program on FDI screening concluded
    India logs USD 2.8 bn current account surplus in April-May: RBI data
    Cong leader Baghel alleges BJP links to Mahadev betting app after Ebix Group chairman's arrest
    ED attaches Rs 158-crore assets of Delhi hospital in PMLA probe
    Mahadev app case: Chhattisgarh court sends Ebix chairman Vikas Garg to 10-day ED custody
    Bengal seeks to leverage India-UK CETA, eyes export boost for labour-intensive sectors
    Kolkata flags off first jewellery exports to UK under CETA
    UK-India trade pact comes into force; Envoy Cameron hails it as 'gold standard'
    RBI issues draft ‘Guidance on Regulatory Expectations for Data Governance’
    Govt unveils Rs 1.9 lakh cr semiconductor, mobile manufacturing push
    India-UK trade pact takes effect as Modi says deal will deepen economic ties and boost exports
    Cabinet approves two multitracking projects covering Four Districts across Odisha and Jharkhand, increasing the existing network of Indian Railways by...
    Cabinet approves National Investment Policy for Urea-2026 for Atmanirbhar Bharat (NIPU-2026)
    Cabinet approves development of 6 lane Greenfield Elevated Corridor & Ramps/Loops & Foot Over Bridge between National Highway-19 and Varanasi Ring Roa...
    Cabinet approves development of 6/4 lane Elevated Corridor along Varuna River Bank & its Ramps/Loops in Uttar Pradesh on Hybrid Annuity Model at total...
    Bajaj Finance Launches Loan Fest with Exclusive Rewards on Personal Loan Disbursal
    China's GDP growth slows sharply in second quarter, misses target
    Cabinet approves Rs 62,500 crore for Mobile Phone Manufacturing Scheme
    Cabinet okays new National Investment Policy to create 10 mn tons of fresh urea capacity
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    July 15, 2026
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    Foreign investment screening cooperation advances investment flows alongside trade, technology, supply-chain resilience and prospective investment-protection commitments.
    India and the European Union concluded a work programme on foreign direct investment screening, exchanging best practices to facilitate investment flows. Trade and Technology Council cooperation addresses market access, standards harmonisation, supply-chain requirements, deep-tech innovation and critical dependencies. The parties also discussed free trade agreement ratification, World Trade Organization reform, and prospective investment-protection and geographical-indications agreements. The Council provides an institutional mechanism for cooperation on trade, trusted technology and economic security.
    July 15, 2026
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    Balance of payments reporting shows a current account surplus despite a wider trade deficit and portfolio investment outflows.
    Balance of payments data for April-May 2026 records a current account surplus, supported by increased net services receipts, higher inward remittances and a marginal reduction in net income outgo. The merchandise trade deficit widened as imports rose more than exports. The overall balance of payments moved into deficit, while net foreign direct investment increased and net foreign portfolio investment recorded a larger net outflow.
    July 15, 2026
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    Online betting money laundering investigation examines alleged proxy accounts, simulated salary payments, cross-border routing, and custodial investigation of the money trail.
    Money-laundering allegations concerning an online betting syndicate involve purported routing of betting proceeds through fictitious or proxy bank accounts, simulated salary payments, share-capital investments, and foreign institutional channels. An Ebix Group chairman was arrested in connection with the alleged money trail and remanded for investigation. The investigating agency states that prosecution complaints have been filed and that separate state economic-offence and central investigations address connected cases. Political-link allegations were denied, and the stated laundering assertions remain under investigation.
    July 15, 2026
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    Money laundering asset attachment addresses alleged fund diversion through false invoices, inflated construction costs, shell entities and accommodation entries.
    Provisional attachment under the Prevention of Money Laundering Act was undertaken in an alleged financial-fraud investigation involving a hospital company. The allegations concern diversion of company funds through purportedly false medical-implant invoices and inflated hospital-construction costs routed through a related company. Accommodation-entry operators and shell entities were allegedly used to conceal the origin of illicit funds. The proceeding arose from a Serious Fraud Investigation Office chargesheet against the hospital promoters.
    July 15, 2026
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    Money-laundering investigation into online betting proceeds leads to custodial remand amid allegations of layered fund routing.
    A special PMLA court remanded Ebix Group chairman Vikas Garg to Enforcement Directorate custody in an investigation into alleged money laundering linked to online betting operations. The agency alleged that betting proceeds were routed through accommodation entries, shell entities and layered transactions into entities owned or controlled by Garg, and were used to acquire shares, securities and other assets. It also alleged dissipation or encumbrance of Ebix shares and an attempt to mortgage or sell property treated as proceeds of crime.
    July 15, 2026
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    India-UK CETA tariff elimination strengthens export prospects for labour-intensive leather, jute, jewellery and agricultural products in British markets.
    India-UK CETA tariff concessions are expected to improve West Bengal's export competitiveness in the United Kingdom. Duty-free access applies to tea, mangoes and betel leaves, while import duties on jewellery have been removed. Labour-intensive leather, jute, and gems and jewellery sectors are identified as principal beneficiaries, with tariff removal also improving seafood export prospects. Further competitiveness measures are proposed to help exporters use the agreement's trade opportunities.
    July 15, 2026
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    Zero-duty market access under CETA enables Indian jewellery exporters to enter overseas markets without import tariffs.
    Zero-duty access under the India-UK Comprehensive Economic and Trade Agreement enables eligible Indian gem and jewellery exports to enter the United Kingdom market without UK import tariffs. The agreement is expected to improve market access and support value-added manufacturing, employment, skill development, and the participation of artisans, micro, small and medium enterprises, and exporters in West Bengal's gem and jewellery sector.
    July 15, 2026
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    UK-India trade agreement introduces wider market access, tariff reductions and social security arrangements to support bilateral commerce.
    The UK-India Comprehensive Economic and Trade Agreement has entered into force, providing expanded market access, tariff reduction and trade facilitation. India receives zero-duty access for nearly all exports to the UK, while UK products entering India receive duty-free or reduced-tariff treatment. The framework covers goods including textiles, leather, engineering products, food, cosmetics, alcoholic beverages and premium cars. A bilateral social security agreement has also been operationalised to support wider commercial engagement.
    July 15, 2026
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    Data governance expectations propose stronger lifecycle controls, quality standards, accountability and third-party data-sharing safeguards for regulated financial entities.
    Draft regulatory guidance on data governance proposes expectations for regulated financial entities to maintain data that is accurate, consistent, secure and fit for purpose. The framework addresses data-governance arrangements, defined roles, data architecture, metadata and data lineage, data quality, and third-party data-sharing arrangements. It applies to specified banking entities, financial institutions, non-banking financial companies, asset reconstruction companies and credit information companies, and invites stakeholder feedback on the proposed framework.
    July 15, 2026
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    Semiconductor and mobile manufacturing incentives support domestic production, component sourcing, design investment, exports and resilient electronics supply chains.
    Semicon 2.0 and the Mobile Phone Manufacturing Scheme provide manufacturing support to expand domestic electronics production, exports and local value addition. Semicon 2.0 covers chip design, equipment and materials, fabrication, advanced packaging and testing, research, and talent development, while supporting semiconductor intellectual property and critical-component manufacturing. The mobile-phone scheme provides production-linked incentives linked to eligible sales, with additional support for domestic component sourcing and Indian investment in product design and research. The measures seek to reduce import dependence and strengthen domestic critical-technology capabilities.
    July 15, 2026
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    India-UK trade liberalisation expands tariff preferences, services access and skilled professional mobility while preserving protections for sensitive domestic sectors.
    The India-United Kingdom Comprehensive Economic and Trade Agreement establishes preferential tariff treatment for goods and expands cooperation in services, digital trade, government procurement, investment and professional mobility. India retains protections for sensitive sectors through phased tariff reductions and quota-based access, while duties on British automobiles and alcoholic beverages are reduced in stages. The accompanying social-security convention exempts eligible Indian professionals temporarily assigned to the United Kingdom from simultaneous contributions in both jurisdictions, supporting skilled-worker mobility and reducing employment-related costs.
    July 15, 2026
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    Railway capacity augmentation strengthens multimodal connectivity, freight movement, operational reliability and lower-emission transport across Odisha and Jharkhand.
    Railway capacity augmentation is approved through doubling of the Paradeep-Haridaspur route and construction of a fourth line on the Rajkharsawan-Dangoaposi route. The projects aim to reduce congestion, improve railway operational efficiency and reliability, and strengthen integrated multimodal connectivity. Enhanced capacity is intended to support freight transport of coal, iron ore, dolomite, limestone and gypsum, improve regional and tourist connectivity, promote logistics efficiency, and reduce oil imports and carbon emissions.
    July 15, 2026
    Show AI Summary
    Urea investment policy promotes gas-based domestic manufacturing through transparent cost treatment, return-on-equity parameters, and foreign-exchange risk mitigation.
    NIPU-2026 provides a framework for investment in new gas-based urea manufacturing units to increase indigenous production and reduce reliance on imported urea. It separates fixed and variable costs for transparency, provides a prescribed return-on-equity band, and mitigates foreign-exchange exposure through conversion of fixed costs into Indian rupees after four years at prevailing exchange rates. The policy supports self-sufficiency through additional domestic urea manufacturing capacity.
    July 15, 2026
    Show AI Summary
    Greenfield elevated corridor development strengthens multimodal connectivity, urban decongestion, road safety and pilgrimage access through the Hybrid Annuity Model.
    Development of a six-lane greenfield elevated connector corridor between National Highway-19 and the Varanasi Ring Road has been approved under the National Highways (Original) programme through the Hybrid Annuity Model. The access-controlled corridor includes elevated road infrastructure, bridges, loops, ramps, link roads and service roads, and is intended to divert through traffic from congested urban roads. Aligned with the PM Gati Shakti National Master Plan, it integrates road, rail, air and inland-water connectivity while improving access to logistics, religious, educational and cultural destinations.
    July 15, 2026
    Show AI Summary
    Hybrid annuity corridor development advances urban decongestion, multimodal connectivity, safer travel and efficient passenger and freight movement.
    A predominantly elevated 6/4-lane link and connector corridor along the Varuna River Bank has been approved under the Hybrid Annuity Model. Comprising carriageways, flyovers, loops, ramps and service roads, it will connect NH-31 with the Varanasi Ring Road under the Varanasi Decongestion Plan. The corridor is intended to reduce congestion and travel time, improve safety and freight movement, and strengthen access to transport, economic, social and logistics nodes through multimodal integration.
    July 15, 2026
    Show AI Summary
    Personal loan disbursal incentives provide eligible borrowers reward bundles, subject to eligibility conditions, verification, assessment and applicable terms.
    Personal loan disbursal incentive campaign offers eligible borrowers an entertainment and lifestyle voucher bundle upon successful disbursal during the specified promotional period. Reward availability is conditional on customer eligibility and applicable terms and conditions. The collateral-free, digitally processed credit facility involves eligibility-based approval, review of loan terms, KYC and bank-account verification, and application assessment before disbursal.
    July 15, 2026
    Show AI Summary
    Domestic-demand weakness slows China's economic growth despite export support from artificial-intelligence technology and electric-vehicle demand.
    China's economic growth slowed in the second quarter amid weak domestic demand, property-market weakness, subdued consumer confidence and higher energy costs. Export demand, especially for artificial-intelligence technology and electric vehicles, supported foreign trade and industrial production, but underscored reliance on overseas demand. Property investment and new-home prices continued to decline, while youth unemployment remained elevated. Further support measures focused on new infrastructure could be considered as investment growth weakens and systemic risks require management.
    July 15, 2026
    Show AI Summary
    Mobile phone manufacturing incentives link eligible sales, domestic sourcing, design and research support to indigenous brands and expanded production.
    The Mobile Phone Manufacturing Scheme establishes a five-year incentive-linked framework for manufacturing mobile phones in India. It provides differentiated incentive support on eligible sales, additional support for domestic sourcing of key components and sub-assemblies, and a further incentive for product design and research and development aimed at building Indian brands. The scheme seeks to expand domestic production and exports, promote technological sovereignty, create patents, support employment, and strengthen domestic value capture in mobile-phone manufacturing.
    July 15, 2026
    Show AI Summary
    Domestic urea investment policy supports new natural gas-based capacity through subsidy-cost separation, assured returns, and foreign-exchange risk mitigation.
    National Investment Policy 2026 establishes an investment framework to add domestic natural gas-based urea production capacity and reduce import reliance. Extending the New Investment Policy 2012, it provides for separation of fixed and variable costs for subsidy calculation, assured returns for urea plant companies, and foreign-exchange risk mitigation to support investment in new domestic urea manufacturing capacity.
    July 15, 2026
    Show AI Summary
    India-UK free trade agreement expands zero-duty export access and reduces duties on specified United Kingdom goods.
    The India-UK Comprehensive Economic and Trade Agreement entered into force with zero-duty market access for nearly all Indian exports to the United Kingdom. It is expected to support sectors including textiles, leather, gems and jewellery, engineering goods, marine products, chemicals and processed foods. A bilateral social security agreement has also become operational. The arrangement reduces Indian import duties on specified United Kingdom goods, including Scotch whisky and premium UK-built cars.

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      Syria's Druze seek place in changing nation, navigating pressures from government, Israel

      March 10, 2025

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      Jaramana (Syria), Mar 10 (AP) Syria's Druze minority has a long history of cutting their own path to survive among the country's powerhouses. They are now trying again to navigate a new, uncertain Syria since the fall of longtime autocrat Bashar Assad.

      Members of the small religious sect find themselves caught between two forces that many of them distrust: the new, Islamist-led government in Damascus and Syria's hostile neighbor, Israel, which has used the plight of the Druze as a pretext to intervene in the country.

      Syria's many religious and ethnic communities are worried over their place in the new system.

      The transitional government has promised to include them, but has so far kept authority in the hands of the Islamist former insurgents who toppled Assad in December -- Hayat Tahrir al-Sham, or HTS. That and HTS's past affiliation with Sunni Muslim extremist al-Qaida, has minorities suspicious.

      The most explosive hostilities have been with the Alawite religious minority, to which Assad's family belongs. Heavy clashes erupted this week between armed Assad loyalists and government forces, killing at least 70, in the coastal regions that are the Alawites' heartland.

      In contrast, the Druze -- largely centered in southern Syria -- have kept up quiet contacts with the government. Still, tensions have broken out.

      Last week in Jaramana, a suburb of Damascus with a large Druze population, unknown gunmen killed a member of the government's security forces, which responded with a wave of arrests in the district.

      Israel's Prime Minister Benjamin Netanyahu and military officials weighed in by threatening to send forces to Jaramana to protect the Druze. Druze leaders quickly disavowed the offer. But soon after, someone hung an Israeli flag in Sweida, an overwhelmingly Druze region in southern Syria, prompting residents to quickly tear it down and burn it.

      Many fear another flare-up is only a matter of time.

      Multiple Druze armed militias have existed for years, originally set up to protect their communities against Islamic State group fighters and drug smugglers coming in from the eastern desert. They have been reluctant to set down their arms. Recently a new faction, the Sweida Military Council, proclaimed itself, grouping several smaller Druze militias.

      The result is a cycle of mistrust, where government supporters paint Druze factions as potential separatists or tools of Israel, while government hostility only deepens Druze worries.

      A struggle to unite a divided country On the outskirts of Sweida, a commander in Liwa al-Jabal, a Druze militia, stood on a rooftop and scanned the hills with binoculars. He spoke by walkie-talkie with a militiaman with an assault rifle below. They were watching for any movement by militants or gangs.

      “Our arms are not for expansionist purposes. They're for self-defence and protection,” said the commander, who asked to be identified only by his nickname Abu Ali for security reasons. “We have no enemies except those who attack us.” Abu Ali, who is a metal worker as his day job, said most Druze militiamen would merge with a new Syrian army if it's one that “protects all Syrians rather than crushes them like the previous regime”.

      The Druze religious sect began as a 10th-century offshoot of Ismailism, a branch of Shiite Islam. Over half of the roughly 1 million Druze worldwide live in Syria. Most other Druze live in Lebanon and Israel, including in the Golan Heights, which Israel captured from Syria in the 1967 Mideast War and annexed in 1981.

      In Syria, the Druze take pride in their fierce independence. They were heavily involved in revolts against Ottoman and French colonial rule to establish the modern Syrian state.

      During Syria's civil war that began in 2011, the Druze were split between supporters of Assad and the opposition. The Sweida region stayed quiet for much of the war, though it erupted with anti-government protests in 2023.

      Assad reluctantly gave Druze a degree of autonomy, as they wanted to avoid being involved on the frontlines. The Druze were exempted from conscription into the Syrian army and instead set up local armed factions made of workers and farmers to patrol their areas.

      Druze say they want Syria's new authorities to include them in a political process to create a secular and democratic state.

      “Religion is for God and the state is for all” proclaimed a slogan written on the hood of a vehicle belonging to the Men of Dignity, another Druze militia patrolling the outskirts of Sweida.

      Being inclusive will not hurt him Many Druze quickly rejected Israel's claims to protect the minority. Hundreds took to the streets in Sweida to protest Netanyahu's comments.

      “We are Arabs, whether he or whether the Lord that created him likes it or not. Syria is free,” said Nabih al-Halabi, a 60-year-old resident of Jaramana.

      He and others reject accusations that the Druze want partition from Syria.

      But patience is wearing thin over what many see as arbitrary layoffs of public sector workers, shortage of economic opportunities, and the new authorities' lack of more than token inclusion of Syrians from minority communities. For the first time, a protest took place in Sweida on Thursday against Damascus' new authorities.

      Interim President Ahmad al-Sharaa has promised to create an inclusive system, but the government is made up mostly of his confidantes. The authorities convened a national dialogue conference last week, inviting Syrians from different communities, but many criticised it as rushed and not really inclusive.

      “What we are seeing from the state today, in our opinion, does not achieve the interests of all Syrians,” said retired nurse Nasser Abou-Halam, discussing local politics with other residents in Sweida's public square where near-daily protests took place.

      “It's a one-colour government, with leadership appointed through factions rather than through elections.” Al-Sharaa “has a big opportunity to be accepted just to be Syrian first and not Islamist first. Being inclusive will not hurt him”, said Bassam Barabandi, a former Syrian diplomat currently based in Washington. “On the contrary, it will give him more power.” Economic woes shorten the honeymoon Syria's new leaders have struggled to convince the United States and its allies to lift Assad-era sanctions. Without the lifting of sanctions, it will be impossible for the government to rebuild Syria's battered infrastructure or win over minority communities, analysts say.

      “I'm scared sanctions won't be lifted and Syria won't be given the chance,” said Rayyan Maarouf, who heads the activist media collective Suwayda 24. He has just returned to Sweida after fleeing to Europe over a year ago because of his activism.

      “Syria could go back to a civil war, and it would be worse than before,” he said.

      Outside Sweida, Abu Ali was helping train new volunteers for the militia. Still, he said he hopes to be able to lay down his weapons.

      “There is no difference between the son of Sweida or Jaramana and those of Homs and Lattakia,” he said. “People are tired of war and bloodshed … weapons don't bring modernism.” (AP) PY PY

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