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    Trane Technologies Reports Strong Second Quarter Results; Raises Full-Year Revenue and EPS Guidance
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    Raymond Lifestyle Limited Delivered a stable Q1 FY27 Performance
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    India and Rwanda Hold First Joint Trade Committee Meeting to Deepen Bilateral Trade and Investment Cooperation
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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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      Russia may hope to use Trump's 50-day window to wear down Ukraine, but quick gains seem unlikely

      July 16, 2025

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      Washington, Jul 16 (AP) President Donald Trump's ultimatum to Russia to accept a peace deal in Ukraine within 50 days or face bruising sanctions on its energy exports has given the Kremlin extra time to pursue its summer offensive.

      The dogged Ukrainian resistance, however, makes it unlikely that the Russian military will make any quick gains.

      President Vladimir Putin has declared repeatedly that any peace deal should see Ukraine withdraw from the four regions that Russia illegally annexed in September 2022 but never fully captured.

      He also wants Ukraine to renounce its bid to join NATO and accept strict limits on its armed forces -– demands Kyiv and its Western allies have rejected.

      A chronic shortage of manpower and ammunition has forced Ukrainian forces to focus on holding ground rather than launching counteroffensives.

      But despite a renewed Russian push — and an onslaught of aerial attacks on Kyiv and other cities in recent weeks — Ukrainian officials and analysts say it remains unlikely that Moscow can achieve any territorial breakthrough significant enough in 50 days to force Ukraine into accepting the Kremlin's terms anytime soon.

      Russia's main targets Since spring, Russian troops have accelerated their land gains, capturing the most territory in eastern Ukraine since the opening stages of Moscow's full-scale invasion in 2022.

      Russian forces are closing in on the eastern strongholds of Pokrovsk and Kostyantynivka in the Donetsk region, methodically capturing villages near both cities to try to cut key supply routes and envelop their defenders — a slow offensive that has unfolded for months.

      Capturing those strongholds would allow Russia to push toward Slovyansk and Kramatorsk, setting the stage for the seizure of the entire Donetsk region.

      If Russian troops seize those last strongholds, it would open the way for them to forge westward to the Dnipropetrovsk region. The regional capital of Dnipro, a major industrial hub of nearly 1 million, is about 150 kilometres (just over 90 miles) west of Russian positions.

      The spread of fighting to Dnipropetrovsk could damage Ukrainian morale and give the Kremlin more leverage in any negotiations.

      In the neighboring Luhansk region, Ukrainian troops control a small sliver of land, but Moscow has not seemed to prioritize its capture.

      The other two Moscow-annexed regions — Kherson and Zaporizhzhia — seem far from being totally overtaken by Russia.

      Early in the war, Russia quickly overran the Kherson region but pulled back from large swaths of it in November 2022, retreating to the eastern bank of the Dnieper River. A new attempt to cross the waterway to seize the rest of the region would involve massive challenges, and Moscow doesn't seem to have the capability to mount such an operation.

      Fully capturing the Zaporizhzhia region appears equally challenging.

      Russian attempts to establish a buffer zone Moscow's forces captured several villages in northeastern Ukraine's Sumy region after reclaiming chunks of Russia's Kursk region from Ukrainian troops who staged a surprise incursion in August 2024.

      Ukraine says its forces have stopped Russia's offensive and maintain a presence on the fringe of the Kursk region, where they are still tying down as many as 10,000 Russian troops.

      Putin recently described the offensive into the Sumy region as part of efforts to carve a “buffer zone” to protect Russian territory from Ukrainian attacks.

      The regional capital of Sumy, a city of 268,000, is about 30 kilometres (less than 20 miles) from the border. Putin said Moscow doesn't plan to capture the city for now but doesn't exclude it.

      Military analysts, however, say Russian forces in the area clearly lack the strength to capture it.

      Russian forces also have pushed an offensive in the neighbouring Kharkiv region, but they haven't made much progress against fierce Ukrainian resistance.

      Some commentators say Russia may hope to use its gains in the Sumy and Kharkiv regions as bargaining chips in negotiations, trading them for parts of the Donetsk region under Ukrainian control.

      “A scenario of territorial swaps as part of the talks is quite realistic,” said Mikhail Karyagin, a Kremlin-friendly political expert, in a commentary, Wearing down Ukraine with slow pressure Ukrainian commanders say the scale and pace of Russian operations suggest that any game-changing gains are out of reach, with Moscow's troops advancing slowly at a tremendous cost to its own forces.

      While exhausted Ukrainian forces are feeling outnumbered and outgunned, they are relying on drones to stymie Moscow's slow offensive. Significant movements of troops and weapons are easily spotted by drones that are so prolific that both sides use them to track and attack even individual soldiers within minutes.

      Russian military commentators recognize that Ukraine's drone proficiency makes any quick gains by Moscow unlikely. They say Russia aims to bleed Ukraine dry with a strategy of “a thousand cuts”, using relentless pressure on many sectors of the front and steadily increasing long-range aerial attacks against key infrastructure.

      “The Russian army aims to exhaust the enemy to such an extent that it will not be able to hold the defence, and make multiple advances merge into one or several successes on a strategic scale that will determine the outcome of the war,” Moscow-based military analyst Sergei Poletayev wrote in an analysis.

      “It's not that important where and at what speed to advance: the target is not the capture of this or that line; the target is the enemy army as such.” Western supplies are essential for Ukraine Ukrainian troops on the front express exasperation and anger about delays and uncertainty about US weapons shipments.

      Delays in US military assistance have forced Kyiv's troops to ration ammunition and scale back operations as Russia intensifies its attacks, Ukrainian soldiers in eastern Ukraine told The Associated Press.

      The United States will sell weapons to its NATO allies in Europe so they can provide them to Ukraine, according to Trump and US Secretary of State Marco Rubio. Included are Patriot air defense systems, a top priority for Ukraine.

      Speeded-up weapons shipments from European allies are crucial to allowing Ukraine to stem the Russian attacks, according to analysts.

      “The rate of Russian advance is accelerating, and Russia's summer offensive is likely to put the armed forces of Ukraine under intense pressure,” Jack Watling of the Royal United Services Institute in London said in a commentary.

      But most of the capabilities that Ukraine needs — from drones to artillery systems — can be provided by NATO allies in Europe, he said.

      “In the short-term, Europe can cover most of Ukraine's needs so long as it can purchase some critical weapons types from the US,” Watling said. (AP) PY PY

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