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    PM Modi, UK PM Burnham commit to harnessing full potential of mega trade deal
    ITC Q1 profit declines 15.6 pc to Rs 4,508.79 cr; non-cigarette FMCG posts robust growth
    Punjab extends deadline of one-time scheme for settling tax dues of pre-GST period till Sept 30
    PM Modi speaks to UK counterpart Burnham
    Bank credit to industry records robust growth of 19.2 pc in June: RBI data
    Delhi protesters' fingerprints collected from stones for identification via Aadhaar: BJP minister
    Cabinet approves Rs 84,084-cr offshore exploration scheme; govt to fund up to Rs 650 cr per well
    India's forex reserves jump USD 6.12 bn to USD 682.35 bn
    Jharkhand signs pact with CSC eStore to make SHG products made by women available online
    APEDA Facilitates First-Ever Air Shipment of Karnataka's Neelam and Totapuri Mangoes to the Maldives
    Favara-UPI Cross-Border Payment Corridor Goes Live Between Maldives and India
    SC upholds NCLAT order setting aside CCI's Rs 301.6-cr penalty on Grasim Industries
    China's factory activity unexpectedly slips into contraction in July
    PM Modi to inaugurate Bhogapuram Airport on Aug 1 in Andhra Pradesh
    Rupee rises 20 paise to 95.30 against US dollar in early trade
    APEDA Facilitates First-Ever Sea Shipment of Value-Added Flavoured Makhana from Bihar to Canada
    Indian envoy meets Chinese commerce ministry official; Calls for enhanced market access
    ED attaches Rs 94 crore in foreign bank account in fraud case against Delhi-based rice firm
    Ensure uniform deposit rates across all branches: RBI tells banks
    PM takes stock of geo-political situation, safety of seafarers, supply chain constraints
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    July 31, 2026
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    India-UK trade agreement enables duty-free access and bilateral cooperation on investment, technology, and strategic partnership.
    The India-UK Comprehensive Economic and Trade Agreement provides zero-duty market access in the UK for nearly 99 per cent of India's exports and is intended to expand bilateral trade and investment opportunities. The governments committed to maximise its benefits through the Comprehensive Strategic Partnership, including cooperation on technology, innovation, security, clean energy, education and people-to-people links. Advanced technology collaboration, including artificial intelligence, is also contemplated.
    July 31, 2026
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    Excise duty increases on cigarettes pressured profitability, while calibrated pricing and FMCG growth supported market resilience.
    Excise duty increases on cigarettes affected consolidated profitability, prompting calibrated pricing and portfolio measures to protect market share and limit migration to illicit trade. The cigarette portfolio was re-architected across price points through value-accretive offerings and staggered pricing actions. Non-cigarette FMCG growth was supported by demand for packaged foods, dairy and personal-care products. Input-cost inflation was mitigated through inventory cover, commodity hedging and price-volume rebalancing amid crude-price volatility, supply-chain disruption and imported inflation concerns.
    July 31, 2026
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    One-Time Settlement Scheme offers final pre-GST tax dispute resolution relief before stricter recovery action against defaulters begins.
    The One-Time Settlement Scheme 2025 for pre-GST tax dues has been extended until September 30. Eligible taxpayers may resolve pending legacy tax disputes with full waiver of interest and penalties and slab-wise relief in principal tax. After the deadline, recovery action may be intensified under applicable tax laws and the Punjab Land Revenue Act, including property attachment, auction and freezing of bank accounts. The department also supports amicable settlement of tax disputes through the SAMADHAN initiative.
    July 31, 2026
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    Bilateral trade agreement implementation supports expanded trade, investment and strategic cooperation through technology, security, clean energy and community links.
    The India-UK Comprehensive Economic and Trade Agreement was identified as a framework for expanding bilateral trade and investment opportunities following its operationalisation. The two governments proposed closer cooperation to use the agreement for shared prosperity, while advancing their comprehensive strategic partnership through technology, innovation, defence, security, clean energy, education and people-to-people links.
    July 31, 2026
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    Sectoral bank credit growth reflects broad-based expansion across industry, services, agriculture and personal loans, with slower credit-card growth.
    Sectoral bank credit growth accelerated across non-food lending, agriculture, industry, services and personal loans. Industrial credit expanded across micro and small, medium and large enterprises, with strong lending to infrastructure, engineering, food processing, textiles, construction, metals, petroleum-related products and chemical products. Services lending was supported by non-banking financial companies, commercial real estate and trade. Vehicle and housing loans maintained double-digit growth, while credit-card outstanding growth decelerated.
    July 31, 2026
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    Biometric identification of protesters through alleged fingerprint-Aadhaar linkage was described alongside criminal-background profiling and database creation.
    Biometric identification of protesters through fingerprints recovered from alleged stone-pelting evidence was publicly described as a proposed investigative method. A minister stated that fingerprints allegedly found on stones would be linked with Aadhaar numbers to identify participants and examine their prior records. The account also referred to analysis and categorisation of detained protesters' criminal backgrounds, creation of a separate database, and proposed action against participants described as anti-social elements or persons with criminal records.
    July 31, 2026
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    Offshore hydrocarbon exploration support funds high-risk deepwater drilling, shared infrastructure and data acquisition to strengthen domestic energy production.
    The National Offshore Exploration Scheme provides public support for deepwater and ultra-deepwater oil and gas exploration, including seismic and offshore data acquisition, exploratory drilling in frontier basins, and common production and evacuation infrastructure. It addresses the high cost and geological uncertainty of offshore drilling and includes technology adoption, digital programme management, capacity building and collaboration measures. The scheme seeks to expand domestic hydrocarbon discoveries and production, attract investment across the exploration and production value chain, and reduce reliance on imported oil and gas.
    July 31, 2026
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    Foreign exchange reserves increased as foreign currency assets and gold holdings rose, alongside measures to attract forex inflows.
    India's foreign exchange reserves increased during the reporting week, principally because foreign currency assets and gold reserves rose. Foreign currency assets, expressed in United States dollar terms, include valuation effects from movements in currencies such as the euro, pound and yen. Special Drawing Rights and the reserve position with the International Monetary Fund declined. Measures including the FCNR(B) measure were reported as efforts to attract foreign-exchange inflows following rupee pressure and dollar-sales intervention.
    July 31, 2026
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    Digital marketplace access for women's self-help group products expands e-commerce opportunities while panchayat-level citizen services are strengthened.
    Digital marketplace access for women's self-help group products is proposed through a memorandum of understanding between CSC eStore and the Jharkhand State Livelihood Promotion Society. Products marketed under the 'Palash' and 'Adiva' brands are intended to be offered through an e-commerce network to widen market access, support rural women's income and entrepreneurship, and strengthen the rural economy. Digital panchayat services are also being expanded through Common Service Centres, including banking, e-governance and Aadhaar-related services.
    July 31, 2026
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    Agricultural export facilitation expands market access for late-season mangoes through farmer aggregation and direct global market linkages.
    Agricultural export facilitation enabled an air shipment of late-season Neelam and Totapuri mangoes to an international market, expanding market access and extending the mango export season. Direct sourcing through a Farmer Producer Company supported organised aggregation, quality produce, and export-oriented supply chains. Direct procurement and export market linkages enabled participating farmers to realise higher returns than conventional market channels while promoting horticultural export diversification.
    July 31, 2026
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    Cross-border digital payment integration enables real-time Favara transfers from Maldives mobile banking applications to UPI-enabled accounts in India.
    Cross-border digital payment integration between Favara and UPI enables individuals in the Maldives to make real-time person-to-person transfers to UPI-enabled bank accounts in India through mobile banking applications. Transfers are initiated in Maldivian Rufiyaa and credited in Indian Rupees. The initial service is available through participating Maldivian banks. Permitted remittances include family-maintenance transfers under foreign inward and outward remittance categories, and gift-related transfers under foreign outward remittance. Future phases are intended to introduce QR-based merchant payments and other digital payment services.
    July 31, 2026
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    Procedural Fair Hearing in competition inquiries requires notice when the Commission departs from investigative findings before imposing action.
    Competition law procedure requires the Competition Commission to notify and hear an opposite party when departing from the Director General's findings. The penalty order concerning alleged abuse of dominance in viscose staple fibre supply was set aside because Grasim Industries was not given an opportunity to respond to the Commission's disagreement with the investigative findings. The matter was remanded for fresh, time-bound consideration without a finding on the merits.
    July 31, 2026
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    Manufacturing contraction highlights weak domestic demand, property-sector pressure and continued reliance on technology-related exports for economic growth.
    Manufacturing activity in China contracted in July, as the official purchasing managers' index fell below the expansion threshold and new orders and production declined. Weak domestic demand, lower building activity and possible typhoon-related disruptions contributed to the slowdown. Consumer spending, investment and property-sector weakness continue to affect confidence, while technology-related exports support growth. Policy commitments include strengthening domestic consumption amid continued reliance on exports.
    July 31, 2026
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    Public-private partnership airport development strengthens aviation, cargo logistics, export infrastructure and sustainable connectivity through an integrated international airport project.
    The Bhogapuram airport project is being implemented under a Public-Private Partnership through the Design, Build, Finance, Operate and Transfer framework. It has obtained required aerodrome, safety, fire and environmental clearances and includes infrastructure for domestic and international aviation, passenger processing and airport security. Cargo and cold-chain facilities are intended to support exports and logistics integration, while recycled-water use and LEED Platinum standards form part of the project's sustainability features.
    July 31, 2026
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    Rupee appreciation against the US dollar continued as foreign inflows and lower crude prices supported domestic currency markets.
    Rupee appreciation against the US dollar continued in early trading, supported by foreign capital inflows and lower global crude oil prices. A stronger US dollar constrained further appreciation, while expectations of continued Reserve Bank of India intervention were cited as supporting the rupee. Declining Brent crude prices, gains in domestic equity indices and net foreign institutional investment in equities were also identified as relevant market factors.
    July 31, 2026
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    Value-added Makhana exports expand international market access, support quality compliance, and improve farmer returns through processing and branding.
    Agricultural export facilitation supported the first sea shipment of value-added flavoured Makhana from Bihar to Canada. Processed and packaged to international quality and food-safety standards, the export demonstrates the role of processing, value addition and export-oriented manufacturing in expanding overseas market access. The initiative is stated to improve farmer returns through value addition, while capacity building, export infrastructure, quality compliance, market linkages and stakeholder collaboration support the agri-export ecosystem.
    July 30, 2026
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    Market access for Indian pharmaceuticals remains central to bilateral efforts to promote sustainable trade and economic cooperation.
    Enhanced market access for Indian products, particularly pharmaceuticals, was raised in discussions aimed at strengthening bilateral trade and economic ties. The discussions addressed sustainable trade, and the sides agreed to increase mutual cooperation and communication. India continues to seek greater access to China's information technology, pharmaceutical and agricultural sectors, while pursuing increased pharmaceutical exports and Chinese investment. Bilateral trade increased, but India's trade deficit widened, reflecting an ongoing imbalance in trade flows.
    July 30, 2026
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    Money laundering asset attachment targets overseas bank deposits linked to alleged loan fraud and fugitive economic offenders.
    Provisional attachment under the Prevention of Money Laundering Act was reported against Singapore bank deposits held by a company promoter and associated entities in an alleged loan-fraud and money-laundering investigation. The underlying case arises from allegations of fraud, criminal misappropriation, criminal breach of trust and cheating affecting a consortium of lending banks. Service of the attachment order was reported through mutual legal-assistance arrangements, and the promoters had reportedly been declared fugitive economic offenders.
    July 30, 2026
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    Deposit interest rate uniformity requires equal rates for similar deposits, while allowing risk-based differentiation for bulk deposits.
    Banks must apply uniform deposit interest rates across branches and customers for similar deposit amounts accepted on the same date, without discrimination. Rates payable, including for bulk deposits, must strictly follow schedules disclosed in advance on bank websites. Bulk deposit rates must be published each business day at 10:00 am, subject to a short permitted delay. Differentiated bulk-deposit rates may be offered based on applicable differential run-off rates under the Liquidity Coverage Ratio framework.
    July 30, 2026
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    Supply-chain continuity measures prioritise energy, fertiliser and seafarer protection amid conflict-driven disruptions across critical maritime transit routes.
    Supply-chain continuity and energy security measures were reviewed in response to geopolitical conflicts disrupting maritime transit routes and imports. Measures included diversification of LPG procurement, maintenance of petroleum stocks, expansion of PNG, gas-grid, LNG and city-gas infrastructure, and pipeline connectivity approvals. Fertiliser requirements and alternative procurement sources were considered to ensure uninterrupted supply. A unified monitoring mechanism and support arrangements for seafarers, including timely information, emergency assistance and counselling, were directed to protect citizens, economic interests and the Indian diaspora.

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      THE PENINSULA'S GLOBAL 'ART IN RESONANCE' PROGRAMME 2025 SHOWCASES GROUNDBREAKING CONTEMPORARY ARTWORKS

      March 26, 2025

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      Three commissioned artworks — including one in partnership with the Victoria and Albert Museum (V&A) — celebrating innovation and cultural heritage launched to coincide with Art Basel Hong Kong HONG KONG, March 25, 2025 /PRNewswire/ -- The Peninsula Hong Kong has announced the launch of its 2025 "Art in Resonance" programme, continuing its mission to champion emerging and mid-career artists since the programme's inception in 2019. Opening during Hong Kong Art Week, this innovative showcase features commissioned works from Hong Kong artists Phoebe Hui and Chris Cheung (widely known as h0nh1m), alongside Shanghai-based artist Lin Fanglu, in partnership with the Victoria and Albert Museum (V&A).

      From late March through May 2025, these boundary-pushing works will transform The Peninsula Hong Kong's public spaces, offering both hotel guests and art enthusiasts an opportunity to experience contemporary art at the iconic flagship hotel.

      "This exhibition represents a significant milestone in our ongoing commitment to nurturing artistic creativity and cultural exchange," said Gareth Roberts, Executive Director and Chief Operating Officer of The Peninsula's parent company, The Hongkong and Shanghai Hotels, Limited. "We are particularly excited to partner with the V&A to bring this work, and future artworks to the museum's display. Our collaboration will cultivate a broader audience for these superbly talented artists." A Thought-Provoking, Immersive Exhibition The first piece to greet arriving visitors is Lunar Rainbow, a monumental 56-square-metre celestial-themed installation on the hotel's façade by multimedia artist Phoebe Hui (Hong Kong SAR, mainland China). The work features fragmented images of the moon laser-printed on 49 pieces of plate aluminium, created through a custom programme that traces the evolution of lunar imagery from 17th-century scientific moon drawings to contemporary open-source archives, blending the past with the present through a contemporary lens. Custom lighting design echoes a rare natural phenomenon – the moonbow, reflecting on ideas of possibility and new perspectives. Hui's largest artwork to date, Lunar Rainbow pays homage to the moon, a powerful symbol of resilience and hope. Inviting viewers to move forward and embrace the unknown, a serendipitous surprise awaits when the moon installation 'comes together' from a specific angle, offering a perceptual adventure that sparks curiosity and wonder.

      In The Lobby, textile artist Lin Fanglu (Dalian, China) presents She's Bestowed Love, curated by Dr Xiaoxin Li, the V&A's Curator, Asia Department. The large-scale work features vibrant red sculptural forms that celebrate feminine strength and power. Around this maternal core, smaller forms orbit like precious islands, each one telling its own story while remaining connected to the whole, representing the countless moments that shape a woman's journey. Drawing inspiration from the ancient textile traditions of Yunnan's Bai minorities and channelling the nurturing spirit of Greek goddess Gaia, the work creates a dialogue between cultural heritage and contemporary expression. After its showcase at The Peninsula Hong Kong, the installation will travel to London, United Kingdom, and be displayed at the V&A South Kensington, where it will serve as the statement piece of the year-long "Dimensions: Chinese Contemporary Studio Crafts" on display beginning in Autumn 2025.

      "This collaboration represents the intersection of tradition and innovation, which perfectly embodies the V&A's mission," said Dr Melissa Buron, Director of Collections and Chief Curator of the V&A. "By partnering with The Peninsula, we are creating meaningful dialogues between contemporary artistic expression and cultural heritage — sharing powerful creative voices with audiences worldwide." At The Verandah, new media artist Chris Cheung (h0nh1m) (Hong Kong, China), presents The Flow Pavilion, an immersive installation created in partnership with Tai Ping. A one-way mirror structure modelled after a contemporary tea house is the centrepiece of a Zen Garden occupying the café space. Visitors are invited to experience the 'Flow State', a meditative journey of self-connection and tranquillity, by watching a kinetic sphere glide across an exquisite hand-tufted silk carpet, creating patterns reminiscent of the designs in a contemporary Zen Garden. This mesmerising movement is powered by the artist's recorded brainwave patterns during meditation, pairing ancient mindfulness practices with modern technology.

      A Brand-wide Commitment to Contemporary Arts The Peninsula has been committed to promoting the rich and vibrant cultural aspects of its properties' destination cities for generations by inviting its guests to engage with art through numerous channels. The group has hosted artist residencies; mounted enriching and culturally representative exhibits, talks, and symposia; and offered studio visits and workshops with local creators whose work exemplifies the distinctive flavour and energy of their home cities.

      The exhibition works in this year's "Art in Resonance" will remain at The Peninsula Hong Kong through May, after which they will be displayed at other Peninsula properties, and joined by additional, newly commissioned installations from local and international artists.

      Bringing Creativity to Life at The Peninsula Hong Kong In tandem with the exhibition, The Peninsula Hong Kong offers a series of art-inspired experiences, including a celebratory Afternoon Tea at The Lobby featuring pastries inspired by the artworks on display; delicious chocolate bonbons and cookies modelled after specific artworks, and a set of Matcha Mochi paired with Sencha Green Tea at The Verandah. Additionally, guests can enjoy in-room chocolate amenities and postcards that echo the installations. Artistically inspired cocktails are also available at Felix and The Bar, with each drink crafted to complement the exhibited artworks. The hotel's exclusive "The Art of Luxury" stay package, which includes the "Art in Resonance" guided tour and afternoon tea experience, will further illuminate the city's vibrant art scene. Please visit the official hotel website for more details.

      About Art in Resonance Since 2019, The Peninsula's commission-based Art in Resonance programme has spotlighted the work of important emerging and mid-career artists. By providing funding, curatorial support, and exhibition space, Art in Resonance allows these creators to produce significant new public artworks – while simultaneously offering deeply immersive art experiences to Peninsula guests.

      More information can be found at The Peninsula's Art in Resonance programme webpage, www.peninsula.com/art.

      About the V&A The V&A is a family of museums dedicated to the power of creativity —its power to entertain and move, to enrich our lives, open our minds and change the world. We celebrate and share that power through a programme of exhibitions, events, educational and digital experiences, a collection of 2.8 million objects, and through our support for new works and commitment to conservation, research and sustainable design. Together, our work tells a 5,000-year-old story of creativity, helping to advance cultural knowledge everywhere, and inspiring the makers, creators and innovators of today and tomorrow. We are always working to broaden our audiences so that everyone can be part of the V&A – because the V&A and the power of creativity belong to us all.

      About The Hongkong and Shanghai Hotels, Limited (HSH) Incorporated in 1866 and listed on The Stock Exchange of Hong Kong (00045), HSH is the holding company of a Group which is engaged in the ownership, development and management of prestigious hotel, commercial and residential properties in key locations in Asia, the United States and Europe, as well as the provision of tourism and leisure, club management and other services. The Peninsula Hotels portfolio comprises The Peninsula Hong Kong, The Peninsula Shanghai, The Peninsula Beijing, The Peninsula Tokyo, The Peninsula New York, The Peninsula Chicago, The Peninsula Beverly Hills, The Peninsula London, The Peninsula Paris, The Peninsula Istanbul, The Peninsula Bangkok and The Peninsula Manila. The property portfolio of the Group includes The Repulse Bay Complex, The Peak Tower and St. John's Building in Hong Kong; The Landmark in Ho Chi Minh City, Vietnam; and 21 avenue Kléber in Paris, France. The clubs and services portfolio of the Group includes The Peak Tram in Hong Kong; Quail Lodge & Golf Club in Carmel, California; Peninsula Clubs and Consultancy Services, Peninsula Merchandising, and Tai Pan Laundry in Hong Kong.

      Learn more at www.peninsula.com or follow us on Facebook and Instagram.

      Photo - Embedded Media Photo - Embedded Media Photo - Embedded Media Photo - Embedded Media Photo - Embedded Media Logo - Embedded Media (Disclaimer: The above press release comes to you under an arrangement with PRNewswire and PTI takes no editorial responsibility for the same.). PTI PWR PWR

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