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    Rupee rises for 6th day, gains 12 paise to 95.31 against US dollar as crude drops
    ACE Software Posts Earnings Turnaround; Standalone Profit Before Tax Up 43% YoY
    Rajya Sabha passes bill to tackle payment delays faced by MSMEs amid Opposition protests
    MPC's 3-day meeting begins amid expectations of status quo on interest rates
    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
    Union Government releases tax devolution of ₹1,09,019 crore to State Governments, as one advance instalment to accelerate their capital and deve...
    Raymond Lifestyle Limited Delivered a stable Q1 FY27 Performance
    Rupee rises 31 paise to 95.12 against US dollar in early trade
    Customs seizes 8 kg gold worth over Rs 11 cr at Kerala airports in one week
    Drill, Baby, Drill: India to fund Rs 650 cr per well for 60 deepsea wells to break its oil import habit
    Punjab GST revenue rises 20 pc to Rs 10,447 crore in April-July: Cheema
    India-China trade through Shipli La resumes after six years
    Odisha's export can reach USD 50 billion by FY 2029-30: Study
    Andhra records 21 per cent growth in net GST collections till July
    J&K crime branch chargesheets accused in separate bank, insurance fraud cases
    MCD-facilitated PM Vishwakarma Scheme enrols over 41,000 artisans in Delhi
    Gross GST mop-up grows 15.4 pc to over Rs 2.11 lakh cr in July on higher imports, sales
    Gross and Net GST revenue collections for the month of July, 2026
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    August 3, 2026
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    Foreign exchange market movement strengthened the rupee as lower crude prices, investment inflows and improved risk sentiment provided support.
    Foreign exchange market movement saw the rupee strengthen for a sixth consecutive trading session against the US dollar, supported by declining global crude oil prices, a softer dollar, foreign institutional investment inflows and gains in domestic equity markets. Improved global risk sentiment followed the decision to defer planned US military strikes against Iran and allow diplomatic engagement. Renewed geopolitical tensions were identified as a factor that could limit further appreciation.
    August 3, 2026
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    Quarterly financial performance reflects revenue growth, improved standalone profitability, and continued investment in AI-led digital technology platforms.
    Quarterly financial performance reported revenue growth in standalone and consolidated operations, higher standalone profit before tax, and a return to consolidated profitability. The company continues to invest in an AI-led, intellectual-property-driven digital technology strategy through enterprise software, SaaS platforms, digital commerce, cloud, data and AI solutions. Its priorities include scalable platforms, proprietary technology assets, recurring-revenue offerings, partnerships and selective acquisitions. Complete financial results, notes to accounts and regulatory disclosures are available through exchange filings and the company website.
    August 3, 2026
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    MSME delayed-payment reforms strengthen award recovery, faster dispute adjudication, invoice discounting, and interim supplier payment protection.
    MSME delayed-payment reforms seek faster adjudication, strengthened recovery and improved liquidity for enterprise suppliers. Courts may direct payment of at least half of an awarded amount where a setting-aside application remains pending beyond six months. Mediated settlements and arbitral awards may be recovered as arrears of land revenue and recognised as legally enforceable debts under the insolvency framework. The measures also provide graded penalties, voluntary digital registration, invoice settlement through the Trade Receivables Discounting System, and additional Facilitation Councils.
    August 3, 2026
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    Monetary policy rate setting remains cautious as inflation, liquidity, growth and global uncertainty shape the policy stance.
    Monetary policy rate setting is expected to remain cautious amid global uncertainty, rising inflation risks and steady domestic growth. The inflation outlook is affected by energy-price pass-through, higher input costs, and seasonal and monsoon-related food-price pressures. Policy decisions are expected to remain data-dependent, guided primarily by domestic inflation, liquidity conditions and economic growth. A cautious or neutral stance is identified as preferable while external risks and inflation developments persist.
    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.

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      Poland once threw its doors open to millions of Ukrainian refugees, but mood shifted

      May 11, 2025

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      Warsaw, May 11 (AP) In the early months of 2022, as Russia's full-scale invasion of Ukraine began, millions of Ukrainians — mostly women and children — fled to Poland, where they were met with an extraordinary outpouring of sympathy. Ukrainian flags appeared in windows. Polish volunteers rushed to the border with food, diapers, SIM cards. Some opened their homes to complete strangers.

      In the face of calamity, Poland became not just a logistical lifeline for Ukraine, but a paragon of human solidarity.

      Three years later, Poland remains one of Ukraine's staunchest allies — a hub for Western arms deliveries and a vocal defender of Kyiv's interests. But at home, the tone toward Ukrainians has shifted.

      Nearly a million Ukrainian refugees remain in Poland, with roughly 2 million Ukrainian citizens overall in the nation of 38 million people. Many of them arrived before the war as economic migrants.

      As Poland heads into a presidential election on May 18, with a second round expected June 1, the growing fatigue with helping Ukrainians has become so noticeable that some of the candidates have judged that they can win more votes by vowing less help for Ukrainians.

      “The mood of Polish society has changed towards Ukrainian war refugees,” said Piotr Dlugosz, a professor of sociology at the Jagiellonian University in Krakow who has carried out research on the views toward Ukrainians across central Europe.

      He cited a survey by the Public Opinion Research Centre in Warsaw that showed support for helping Ukrainians falling from 94% at the start of Russia's full-scale invasion in February 2022 to 57% in December 2024.

      “Many other studies confirm the change in mood,” he said. “At the same time, it should be remembered that helping refugees after the outbreak of the war was a natural moral reflex, that one should help a neighbour in need. All the more so because Poles remember the crimes committed by Russians against Poles during and after two world wars.” Candidates adjust to anti-Ukrainian sentiment Among those to transform the shift in mood into campaign politics is conservative candidate Karol Nawrocki, a historian and head of the Institute of National Remembrance who is the Law and Justice party's chosen candidate and one of the frontrunners.

      Law and Justice, still in government in 2022, led the humanitarian response to the crisis along with President Andrzej Duda, a conservative backed by the party who travelled to Kyiv during the war.

      As Nawrocki seeks to succeed Duda, he is showing ambivalence toward Ukrainians, stressing the need to defend Polish interests above all else.

      Duda and Law and Justice have long admired Donald Trump, and Nawrocki — who was welcomed at the White House by Trump on May 1 — has at times used language that echoes the American president's.

      “Ukraine does not treat us as a partner. It behaves in an indecent and ungrateful way in many respects,” Nawrocki said in January.

      After Ukrainian President Volodymyr Zelenskyy's tense visit to the Oval Office in February, Nawrocki declared the Ukrainian leader needed to “rethink” his behaviour toward allies.

      Last month Nawrocki vowed that if he wins, he will introduce legislation that would prioritise Polish citizens over Ukrainians when there are waits for medical services or schools.

      “Polish citizens must have priority,” Nawrocki said in a campaign video. “Poland first. Poles first.” Further to the right, candidate Slawomir Mentzen and his Confederation party have gone beyond that. He has blamed Ukrainians for overburdened schools, inflated housing prices, and accused them of taking advantage of Polish generosity.

      At an April 30 rally of a far-right candidate, Grzegorz Braun, his supporters climbed up to a balcony on city hall in Biala Podlaska and pulled down a Ukrainian flag that had been hanging there since February 2022 as an expression of solidarity.

      The political centre is adjusting too.

      Rafal Trzaskowski, the liberal-minded mayor of Warsaw from Prime Minister Donald Tusk's centrist party who welcomed Ukrainians to his city in 2022, proposed in January that only Ukrainian refugees who “work, live and pay taxes” in Poland be granted access to the popular “800+” child benefit — 800 zlotys ($210) per month per child.

      The requirements were already tightened recently, and some refugee advocates described it as a concession to far-right narratives.

      Ukrainians say they're helping Poland, too Ukrainian Ambassador to Poland Vasyl Bodnar disputes claims that Ukrainians are taking more than they give. About 35,000 receive support without working, he said, but what they receive is only a fraction of what Ukrainians contribute in taxes. He noted that some 70,000 Ukrainian-run businesses now operate in Poland.

      “Ukrainians are helping the Polish economy to develop,” he told The Associated Press.

      Malgorzata Bonikowska, president of the Centre for International Relations, said that it is normal for tensions to emerge when large numbers of people from different cultures suddenly live and work side-by-side. And Poles, she added, often find Ukrainians pushy or entitled, and that rubs them the wrong way. “But there is still very stable support for helping Ukraine. We truly believe Ukrainians are Europeans, they are like our brothers.” Rafal Pankowski, a sociologist who heads Never Again, a group that fights xenophobia, has tracked anti-Ukrainian sentiment from the start of the full-scale war. At first, the far right was very isolated in its anti-Ukrainian opinions, he said.

      “What is happening this year is harvest time for all those anti-Ukrainian propagandists, and now it goes beyond the far right," he said.

      Kateryna, a 33-year-old Ukrainian who has lived in Poland for years, has seen the change up close. In 2022, strangers often greeted her with sympathetic looks and with the words “Slava Ukraini” (Glory to Ukraine).

      But then last fall, a man on a tram cursed her for reading a Ukrainian book. This spring, outside a social security office, another man shoved her and screamed, “No one wants you here.” Such incidents remain rare — Poles and Ukrainians co-existing on friendly terms is still the norm. But she feels such incidents were unthinkable three years ago.

      She asked that her last name not be used because she works as a manager in a company that would require to have clearance to be identified publicly.

      Her parents remain in Ukraine, and her brother serves in the army. Like many in the region, she believes Ukrainian resistance is keeping Poland safe by holding the Russians at bay.

      Tensions now, she worries, only serve Moscow. “We must stick together,” she said. (AP) SCY SCY

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