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    Trane Technologies Reports Strong Second Quarter Results; Raises Full-Year Revenue and EPS Guidance
    CBN dismantles inter-state counterfeit drug network in Bihar under Operation Vajra; mastermind arrested
    DRI seizes quantities of gold; drugs, e-cigarettes and other contraband in pan-India Ops; 20 persons, including 5 foreign nationals, arrested
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    India and Rwanda Hold First Joint Trade Committee Meeting to Deepen Bilateral Trade and Investment Cooperation
    West Bengal GST collection rises 2 pc in July to Rs 5,564 crore
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    August 3, 2026
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    Forward-looking financial disclosure raises revenue and earnings guidance while describing non-GAAP measures, capital allocation, and material business risks.
    Financial performance reporting identifies increased bookings, revenue growth, continuing earnings, and backlog, with segment-level operating and margin measures. The release addresses cash flow, capital allocation through dividends, acquisitions and share repurchases, and increased full-year revenue and earnings guidance. Forward-looking statements concerning financial performance, operations, demand, liquidity and capital deployment are subject to identified risks and uncertainties. Non-GAAP measures are presented as supplemental to GAAP measures, with definitions and reconciliations stated to be available in accompanying materials.
    August 3, 2026
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    Counterfeit drug enforcement targets illicit manufacture, storage and trafficking networks, with coordinated seizures and referral of non-narcotic stock.
    Counterfeit-drug enforcement under Operation Vajra addressed an inter-state network involved in the illicit manufacture, storage and distribution of narcotic drugs, psychotropic substances and spurious pharmaceutical products. Searches of unregistered godowns recovered narcotic products, unauthorisedly manufactured Buprenorphine injection ampoules, and counterfeit non-NDPS medicines. A farmhouse-based illicit manufacturing facility was dismantled, with machinery, chemicals and related materials seized under the NDPS Act, 1985.
    August 3, 2026
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    Anti-smuggling enforcement targets concealed gold, narcotics, protected products, prohibited e-cigarettes and restricted imports through coordinated intelligence operations.
    Intelligence-led anti-smuggling operations resulted in seizures of foreign-origin gold, narcotic drugs, hydroponic weed, protected wildlife and forest products, prohibited electronic cigarettes, and restricted poppy seeds and areca nuts. The operations identified concealment through fabricated baggage cavities, false cargo declarations, misdeclaration of origin, forged documentation, and concealment in transport vehicles. Poppy seeds are restricted under the Foreign Trade Policy and may be imported only subject to conditions concerning legally cultivated produce from designated countries and registration of import contracts with the Narcotics Commissioner.
    August 3, 2026
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    Tax devolution advance instalment strengthens State finances for accelerated capital and developmental expenditure through distribution of Union tax proceeds.
    Tax devolution was released to State Governments as an additional advance instalment alongside the normal monthly devolution schedule. The fiscal transfer shares net proceeds of Union taxes and duties with States, with the stated purpose of strengthening State finances and supporting accelerated capital and developmental expenditure. The release includes a State-wise distribution of tax-devolution proceeds.
    August 3, 2026
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    Financial performance reporting highlights revenue and EBITDA growth, garmenting recovery, retail optimisation, ESG commitments, and forward-looking risk disclosures.
    Financial performance reflects growth in total income and EBITDA, with improved margin, reduced net working-capital days, and a net-cash position. Branded textiles and high-value cotton shirting reported lower revenue due to the prior-year base effect, while branded apparel grew but faced lower margin from channel mix. Garmenting improved through order-book execution, tariff rationalisation, and new global clients. ESG priorities include female representation, waste-management initiatives, renewable energy, emissions reduction, and workplace safety. Forward-looking statements remain subject to regulatory, political, economic, and technological risks.
    August 3, 2026
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    Foreign exchange market support strengthens the rupee as lower crude prices, portfolio inflows and reserve growth improve sentiment.
    Foreign exchange market conditions supported an early appreciation of the rupee against the US dollar, attributed to lower global crude oil prices, a weaker dollar, sustained foreign portfolio inflows, higher foreign exchange reserves, and Reserve Bank of India presence in the foreign exchange market. Domestic equity market gains and net foreign institutional equity purchases were also identified as supporting factors.
    August 2, 2026
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    Gold smuggling detection targets sophisticated concealment methods through strengthened passenger profiling, intelligence gathering and coordinated investigations into organised networks.
    Gold smuggling detection at Kerala airports led to multiple seizures, registration of cases and arrests in alleged smuggling attempts. Organised networks reportedly use gold in paste or compound forms concealed in clothing, body cavities, aircraft seats and other unconventional locations. Enforcement measures include strengthened passenger profiling, intelligence gathering and inter-agency coordination, while investigations continue to identify associated syndicates and financiers.
    August 2, 2026
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    Offshore exploration funding supports deepwater drilling, shared infrastructure and seismic data to strengthen domestic hydrocarbon production potential.
    The Samudra Manthan National Offshore Exploration Scheme provides direct budgetary support for high-risk deepwater and ultra-deepwater exploratory drilling, subject to cost-sharing and per-well limits. Support is available to eligible operators holding or securing exploration acreage. The scheme also funds offshore data acquisition and shared subsea, receipt and processing infrastructure through a Common Hub Infrastructure model. It is intended to promote risk exploration, improve commercialisation of offshore discoveries and strengthen domestic hydrocarbon production potential within the existing exploration and licensing framework.
    August 1, 2026
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    GST compliance enforcement combines taxpayer refunds, analytics-based fraud detection, cancellation of fake registrations, and recovery of outstanding VAT arrears.
    Punjab attributed increased GST collections to voluntary compliance, intelligence-based enforcement and technology-driven tax administration, while facilitating compliant taxpayers through timely GST refunds. Data analytics, risk profiling and field verification were used to identify tax evasion, bogus billing, fake input tax credit networks and misuse of the GST registration framework. Measures included penalties, cancellation of fraudulent registrations and recovery of long-pending VAT arrears through attachment and auction of defaulters' properties.
    August 1, 2026
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    Cross-border barter trade resumes through Shipki La, subject to permitted goods, time limits, and import-export compliance requirements.
    Cross-border barter trade through Shipki La between India and Tibet resumed after a six-year interruption. Traders may exchange specified goods under a barter arrangement and must return within 72 hours. Traders are required to comply strictly with import-export regulations prescribed by the Union Ministry of Commerce, emphasising transparency and regulatory compliance. Expansion of permitted goods may be pursued through prescribed governmental and external-affairs channels.
    August 1, 2026
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    Export growth projections outline pathways for Odisha to expand merchandise trade through export diversification, MSME support and financing initiatives.
    Export growth projections for Odisha set out base, optimistic and ambitious scenarios through FY 2029-30, based respectively on historical growth, envisaged national export growth, and a larger share of national exports. Odisha's export basket remains concentrated in metals and minerals, led by aluminium products, with China as the principal export destination. Odisha Vision 2047 identifies exports, including MSME contributions, as an economic transformation driver, while export-financing and risk-mitigation initiatives aim to address financing gaps for exporters and MSMEs.
    August 1, 2026
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    GST compliance enforcement through AI analytics supported sustained net GST collection growth despite rate rationalisation reforms and reduced compliance costs.
    GST revenue mobilisation in Andhra Pradesh showed year-on-year growth in net GST and total commercial tax collections through July 2026, despite rate-rationalisation reforms. Revenue growth was attributed to AI-based scrutiny and analytics, machine-learning risk scoring, AI-driven IGST reversals, UPI-based enforcement analytics, data sharing, predictive analytics, registration verification, and Aadhaar-integrated expansion of the professional-tax base. These measures were stated to strengthen compliance, curb wrongful input tax credit claims, broaden taxpayer coverage, and improve revenue mobilisation.
    August 1, 2026
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    Economic-offences fraud chargesheets address alleged fictitious loans, forged insurance surrender papers, and diversion of bank and policy funds.
    Economic-offences chargesheets were filed in separate alleged bank and insurance fraud matters. The bank investigation alleged fictitious loan sanctions and overdrafts beyond delegated authority, involving cheating, forgery, use of forged documents and criminal conspiracy. The insurance investigation alleged that duplicate policy records and forged surrender documents were used to open a fraudulent account in a policyholder's name and divert policy proceeds. Records, witness statements, documentary evidence and forensic examination were cited in support of the allegations.
    August 1, 2026
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    PM Vishwakarma Scheme implementation expands artisan enrolment, skills, credit, e-commerce access and export facilitation while addressing documentation barriers.
    PM Vishwakarma Scheme implementation in Delhi facilitated artisan enrolment, application processing, skill training, toolkit distribution, loan access, e-commerce onboarding and export-related support. Awareness workshops and tele-calling campaigns were used to promote participation and follow up on benefits. Key implementation challenges concerned outreach to informal clusters, digital literacy, delays in Aadhaar and IEC documentation, and additional support for Divyang artisans. Planned action includes expanding workshops, scaling e-commerce onboarding, strengthening export facilitation and coordination with implementing agencies.
    August 1, 2026
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    Goods and Services Tax collections rise on domestic consumption and imports, while elevated import revenue prompts assessment of underlying drivers.
    Goods and Services Tax collections for July increased over the corresponding prior-year period, supported by domestic sales and imports. Gross receipts included Central GST, State GST and Integrated GST, with net GST revenue calculated after adjusting refunds. For the April-July period, gross and net collections also increased. Commentary linked domestic GST growth to consumption, formalisation and industrial activity, while identifying elevated import GST collections as an area requiring assessment of import composition, currency effects and volumes.
    August 1, 2026
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    GST revenue collections show provisional gross, refund and net revenue trends, with State-wise settlement and domestic collection data.
    GST revenue collections for July 2026 are reported provisionally through gross domestic and import revenue, domestic and export-related refunds, and net GST revenue after refunds. The data also sets out SGST collections and the SGST share of IGST settled to States and Union Territories, both monthly and cumulatively. State-wise domestic GST growth excludes GST on imported goods, while jurisdiction-wise data allocates collections between central and State formations and identifies CGST, SGST and IGST components.
    August 1, 2026
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    Bilateral trade cooperation expands through a Joint Trade Committee covering investment, critical minerals, healthcare, digital technologies and market access.
    Bilateral trade and investment cooperation between India and Rwanda is to be advanced through a structured Joint Trade Committee mechanism for reviewing commerce, diversifying trade, promoting investment, facilitating business engagement and addressing market-access and logistical issues. Priority cooperation includes critical minerals, pharmaceuticals and healthcare, agriculture and agro-processing, standards harmonisation, digital public infrastructure, fintech, cybersecurity, green mobility and renewable energy. Investment focal points will support engagement, while capacity-building assistance and close monitoring of the Agreed Minutes are intended to support time-bound implementation.
    August 1, 2026
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    GST collection growth in West Bengal continued year-on-year in July but remained below the national growth trend.
    West Bengal's July GST collection increased year-on-year and over the preceding month, marking a second consecutive month of annual growth. Official data also indicated that the State's annual growth rate was below the national trend, while gross domestic GST revenue excluding imports and overall gross GST collections including import-related taxes rose nationally during July.
    August 1, 2026
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    GST collection growth reflects higher revenue mobilisation from domestic transactions and imports, with refunds adjusted in net revenue.
    Goods and Services Tax collections increased in July, driven by higher revenue from domestic transactions and imports. The gross collection comprised Central GST, State GST and Integrated GST components. Refunds also increased during the month, and net GST revenue was determined after adjustment of refund outflows from gross tax receipts.
    August 1, 2026
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    Concessional foreign-exchange swaps encourage bank deposits and foreign borrowings to strengthen balance-of-payments resilience and foreign-exchange liquidity.
    The Reserve Bank of India introduced a concessional foreign-exchange swap facility to encourage foreign-currency inflows, strengthen the balance of payments and support foreign-exchange liquidity. The facility applies to fresh Foreign Currency Non-Resident (Bank) deposits, Overseas Foreign Currency Borrowings and External Commercial Borrowings. Foreign Currency Non-Resident (Bank) deposits constitute the principal source of inflows mobilised under the arrangement. The facility is available for specified time-bound periods, with a later availability period for Overseas Foreign Currency Borrowings and External Commercial Borrowings.

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      From Buenos Aires to Rome: Key dates in life of Pope Francis

      April 21, 2025

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      Vatican City, Apr 21 (AP) Key events in the life of Jorge Mario Bergoglio, who became Pope Francis and died on Monday: December 17, 1936: Jorge Mario Bergoglio is born in Buenos Aires, Argentina, the eldest of five children to Mario Jose Bergoglio, an accountant from Italy, and Regina María Sívori, the daughter of Italian immigrants.

      December 13, 1969: Ordained a priest with the Jesuit religious order, which he would lead as Argentina provincial superior during the country's murderous dictatorship that began in the 1970s.

      May 20, 1992: Named auxiliary bishop of Buenos Aires and in 1998 succeeds Cardinal Antonio Quarracino as archbishop of the Argentine capital.

      February 21, 2001: Elevated to cardinal by St. John Paul II.

      May 2007: Helps draft the final document of the fifth meeting of the Latin American bishops conference in Aparecida, Brazil, synthesising what would eventually become his concerns as pope for the poor, Indigenous peoples and the environment and the need for a missionary church.

      March 13, 2013: Elected 266th pope, the first from the Americas, the first Jesuit and the first to take the name of Francis, after St. Francis of Assisi.

      April 13, 2013: Creates a kitchen cabinet of eight cardinals from around the globe to help him govern the church and reorganize its bureaucracy.

      May 12, 2013: Canonizes the “Martyrs of Otranto”, 813 Italians slain in 1480 for defying demands by Turkish invaders to convert to Islam. With one ceremony, Francis nearly doubled the 480 saints made by St. John Paul II over his quarter-century pontificate, which at the time was more than all his predecessors combined for 500 years.

      July 8, 2013: Makes first trip outside Rome to the Sicilian island of Lampedusa to meet with newly arrived migrants and denounces the “globalisation of indifference” shown to would-be refugees.

      July 30, 2013: Declares “Who am I to judge?” when asked about a gay priest during a news conference, signalling a more welcoming stance toward LGBTQ+ community.

      November 26, 2013: Issues mission statement for his papacy in Evangelii Gaudium, (“The Joy of the Gospel”), denouncing the world financial system that excludes the poor and declaring the Eucharist is “not a prize for the perfect but a powerful medicine and nourishment for the weak”.

      May 25, 2014: Makes an unscheduled stop to pray at wall separating Israel from West Bank town of Bethlehem, in a show of support for the Palestinian cause.

      June 8, 2014: Hosts Israeli and Palestinian presidents for peace prayers in the Vatican gardens.

      March 20, 2015: Accepts the resignation of the “rights and privileges” of Scottish Cardinal Keith O'Brien after adult men accuse him of sexual misconduct.

      June 18, 2015: Issues his environmental manifesto “Laudato Si” (“Praised Be”), calling for a cultural revolution to correct the “structurally perverse” global economic system that exploits the poor and has turned Earth into “an immense pile of filth".

      July 10, 2015: Apologises in Bolivia for the sins and crimes of the Catholic Church against Indigenous peoples during the colonial-era conquest of the Americas.

      September 8, 2015: Overhauls the annulment process to make it faster, cheaper and simpler so divorced Catholics can remarry in the church.

      September 24, 2015: Challenges Congress to rediscover America's ideals by acting on climate change, immigration and poverty reduction in the first speech by a pope at the US Capitol.

      November 29, 2015: Inaugurates the Jubilee of Mercy by opening the Holy Door of the cathedral in Bangui, Central African Republic, rather than at the Vatican.

      Febrruary 12, 2016: Meets Russian Orthodox Patriarch Kirill during a stopover in Havana and declares “We are brothers,” in first such meeting between a pope and patriarch in over 1,000 years.

      February 18, 2016: Prays for dead migrants at the US-Mexico border, later says then-presidential candidate Donald Trump is “not a Christian” for wanting to build a border wall.

      April 8, 2016: Opens the way to letting divorced and civilly remarried Catholics receive Communion in a footnote to the document “Amoris Laetitia” (“The Joy of Love”).

      April 16, 2016: Visits a refugee camp in Lesbos, Greece, and brings 12 Syrian Muslims to Rome aboard his papal plane in an appeal for solidarity toward migrants.

      September 19, 2016: Is questioned in a letter by four conservative cardinals seeking clarification of his opening to divorced and remarried Catholics.

      December 1, 2017: Declares at a meeting in Bangladesh with Myanmar Rohingya refugees that, “The presence of God today is also called Rohingya.” January 19, 2018: Accuses sex abuse victims of slander during a visit to Chile, further undermining Catholic Church's credibility. Subsequently orders a Vatican investigation into Chile's abuse crisis.

      April 12, 2018: Admits to “grave errors” in judgment in Chile's sex abuse scandal. Later summons Chilean bishops to Rome to secure their resignations and invites abuse victims to Vatican to apologize.

      August 3, 2018: Declares capital punishment “inadmissible” under all circumstances in a change to official church teaching.

      July 28, 2018: Accepts the resignation of Cardinal Theodore McCarrick from the College of Cardinals, orders him to penance and prayer pending an investigation into allegations of sexual misconduct with minors and adults.

      August 26, 2018: Retired Vatican ambassador Archbishop Carlo Maria Vigano publishes bombshell accusation claiming US and Vatican officials for two decades covered up McCarrick's sexual misconduct, demands Francis resign.

      September 22, 2018: Vatican and China sign landmark agreement over bishop nominations.

      October 14, 2018: Canonizes slain Salvadoran Archbishop Óscar Romero after his saint-making process was held up for decades by conservative cardinals.

      February 4, 2019: Signs the “Human Fraternity” document with the imam of Al Azhar, establishing collaborative relations between Catholics and Muslims.

      February 16, 2019: Defrocks McCarrick after Vatican investigation finds he sexually abused minors and adults.

      February 21, 2019: Opens first Vatican summit on child protection, warns bishops the faithful demand action, not just condemnation of clergy sexual abuse.

      May 9, 2019: Issues new church law requiring clergy sex abuse to be reported in-house, although not to police; establishes procedures for investigating accused bishops, cardinals and religious superiors.

      October 25, 2019: Apologizes to Amazonian bishops, tribal leaders after conservative activists steal Indigenous statues from Vatican-area church and throw them into Tiber River in show of opposition to the pope.

      November 24, 2019: Declares the use and possession of nuclear weapons “immoral” during a visit to Hiroshima and Nagasaki, Japan.

      December 17, 2019: Abolishes use of “pontifical secret” in clergy sex abuse cases, allowing bishops to share internal documentation about abusers with law enforcement.

      February 12, 2020: Declines to approve ordination of married men as priests after appeals from Amazonian bishops, sidestepping issue in document “Querida Amazonia” (“Beloved Amazon”).

      March 27, 2020: Delivers solitary evening prayer to the world facing the coronavirus pandemic from the promenade of St. Peter's Square.

      October 4, 2020: Issues encyclical “Fratelli Tutti” (“Brothers All,”), arguing the pandemic proves theories of market capitalism failed and a new type of politics is needed to promote human fraternity.

      November 10, 2020: Vatican report into McCarrick finds Vatican, U.S. bishops, cardinals and popes played down or dismissed reports of sexual misconduct but spares Francis.

      March 5-8, 2021: Becomes first pope to visit Iraq, meeting with its top Shiite Muslim cleric.

      July 4, 2021: Undergoes intestinal surgery at Rome's Gemelli hospital, has 33 centimeters (13 inches) of colon removed.

      January 5, 2023: Presides at funeral Mass for Pope Benedict XVI.

      January 24, 2023: Declares in an Associated Press interview that “Being homosexual is not a crime.” March 29, 2023: Is admitted to Rome's Gemelli hospital for respiratory infection; is released April 1.

      June 7, 2023: Undergoes surgery to remove intestinal scar tissue and repair a hernia in the abdominal wall.

      October 4, 2023: Opens a synod on making the church more responsive to ordinary faithful during which women are allowed to vote alongside bishops for the first time.

      November 28, 2023: Cancels visit to Dubai to address UN climate conference and outline a new ecological manifesto “Laudate Deum” ("Praise God") because of a new case of acute bronchitis.

      December 16, 2023: Vatican tribunal convicts Cardinal Angelo Becciu of embezzlement and sentences him to 5½ years in prison in one of several verdicts in a complicated financial trial that aired the city state's dirty laundry and tested its justice system.

      December 19, 2023: Approves blessings for same-sex couples provided they don't resemble marriage, sparking fierce opposition from conservative bishops in Africa, Asia and elsewhere.

      July 5, 2024: Vatican excommunicates leading Francis critic Archbishop Carlo Maria Vigano for schism.

      September 10, 2024: Some 600,000 people, half of East Timor's population, attend Francis' Mass in Dili in what is believed to be the biggest turnout for a papal event in terms of the proportion of the population.

      December 26, 2024: Opens the holy door of Rome's Rebibbia prison, two days after formally inaugurating the 2025 Jubilee.

      January 16, 2025: Appears wearing a sling after a fall that bruised his right arm, just weeks after another apparent fall bruised his chin.

      February 14, 2025: Is hospitalized after a bout of bronchitis worsens and then develops into a complex lung infection and double pneumonia.

      February 28, 2025: His doctors briefly consider suspending treatment after a breathing crisis but decides instead on an aggressive course that risks organ damage.

      March 13, 2025: Marks the 12th anniversary of his election as pope while hospitalised.

      March 23, 2025: Is released from the hospital after 38 days of treatment but looked weak and frail earlier that day when appearing on a balcony to greet the crowd below.

      April 17, 2025: Still recovering from double pneumonia, Francis keeps his Holy Thursday tradition of spending time with the least fortunate, visiting inmates at Rome's Regina Caeli prison.

      Although he says he couldn't perform the ritual of washing the feet of 12 people in a gesture of humility, he adds he wanted to be with them and “do what Jesus did on Holy Thursday”. (AP) PY PY

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