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    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
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    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
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    MCD-facilitated PM Vishwakarma Scheme enrols over 41,000 artisans in Delhi
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    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
    Show AI Summary
    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
    Show AI Summary
    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
    Show AI Summary
    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.

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      Venezuela releases jailed Americans in deal that frees migrants deported to El Salvador by US

      July 19, 2025

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      Caracas (Venezuela), Jul 19 (AP) Venezuela on Friday released 10 jailed US citizens and permanent residents in exchange for getting home scores of migrants deported by the United States to El Salvador months ago under the Trump administration's immigration crackdown, officials said.

      The complex, three-country arrangement represents a diplomatic achievement for Venezuelan President Nicolás Maduro, helps President Donald Trump in his goal of bringing home Americans jailed abroad and lands Salvadoran President Nayib Bukele a swap that he proposed months ago.

      “Every wrongfully detained American in Venezuela is now free and back in our homeland,” Secretary of State Marco Rubio said in a statement in which he thanked Bukele, a Trump ally.

      Bukele said El Salvador had handed over all the Venezuelan nationals in its custody. Maduro described Friday as “a day of blessings and good news for Venezuela." He called it “the perfect day for Venezuela.” Venezuelans leave El Salvador's mega-prison Central to the deal are more than 250 Venezuelan migrants freed by El Salvador, which in March agreed to a USD 6 million payment from the Trump administration to house them in its notorious prison.

      That arrangement drew immediate blowback when Trump invoked an 18th-century wartime law, the Alien Enemies Act, to quickly remove the men that his administration had accused of belonging to the violent Tren de Aragua street gang, teeing up a legal fight that reached the US Supreme Court. The administration did not provide evidence to back up those claims.

      The Venezuelans had been held in a mega-prison known as the Terrorism Confinement Centre, or CECOT, which was built to hold alleged gang members in Bukele's war on the country's gangs. Human rights groups have documented hundreds of deaths as well as cases of torture inside its walls.

      Lawyers have little access to those in the prison, which is heavily guarded, and information has been locked tight, other than heavily produced state propaganda videos showing tattooed men packed behind bars.

      Photos and videos released by El Salvador's government on Friday showed shackled Venezuelans sitting in a fleet of buses and boarding planes surrounded by officers in riot gear. One man looked up and pointed toward the sky as he climbed aboard a plane, while another made an obscene gesture toward police.

      After arriving in Venezuela, some of the migrants crossed themselves, cried and hugged one another. They wore face masks and street clothes.

      Maduro alleged that some of them were subjected to various forms of abuse at the Salvadoran prison, and one of them even lost a kidney “due to the beatings he received.” Interior Minister Diosdado Cabello told reporters the men would undergo medical tests and background checks before they could go home.

      One of the men is reportedly Andry Hernández Romero, a makeup artist who fled Venezuela last year and was taken into Immigration and Customs Enforcement custody at a border crossing in San Diego before eventually being flown to El Salvador.

      Representative Robert Garcia, D-Calif., posted on social media Friday night: “We have been in touch with Andry Hernandez Romero's legal team and they have confirmed he is out of CECOT and back in Venezuela. We are grateful he is alive and are engaged with both the State Department and his team.” In April, Bukele proposed exchanging the Venezuelans for the same number of what he called “political prisoners” held by Maduro. The suggestion provoked a harsh response from Venezuelan authorities, who called his comments “cynical” and referred to Bukele as a “neofascist." Families say the Americans released are innocent.

      The State Department office responsible for negotiating the release of American detainees posted a photo Friday evening of the newly released prisoners smiling for the camera inside an aeroplane bringing them home, some clutching an unfurled American flag.

      A plane carrying the freed Americans arrived late Friday evening at Joint Base San Antonio, with some waving flags and rushing to embrace each other after they landed.

      Among those released was 37-year-old Lucas Hunter, whose family says he was kidnapped in January by Venezuelan border guards from inside Colombia, where he was vacationing.

      “We cannot wait to see him in person and help him recover from the ordeal,” his younger sister Sophie Hunter said.

      Venezuelan authorities detained nearly a dozen US citizens in the second half of 2024 and linked them to alleged plots to destabilise the country.

      “We have prayed for this day for almost a year. My brother is an innocent man who was used as a political pawn by the Maduro regime," said a statement from Christian Castenada, whose brother Wilbert, a Navy SEAL, was arrested in his Caracas hotel room last year.

      Global Reach, a nonprofit organisation that had advocated for his release and that of several other Americans, said Venezuelan officials initially and falsely accused him of being involved in a coup but backed off that claim.

      The three-country swap gives Maduro a boost.

      The release of the Venezuelans, meanwhile, is an invaluable win for Maduro as he presses his efforts to assert himself as president despite credible evidence that he lost reelection last year.

      Long accused of human rights abuses, Maduro for months has used the migrants' detention in El Salvador to flip the script on the US government, forcing even some of his strongest political opponents to agree with his condemnation of the migrants' treatment.

      Their return will allow Maduro to reaffirm support within his shrinking base, while demonstrating that even if the Trump administration and other nations see him as an illegitimate president, he is still firmly in power.

      Just a week ago, the US State Department reiterated its policy of shunning Maduro government officials and recognising only the National Assembly elected in 2015 as the legitimate government of the country. Signed by Rubio, the cable said US officials are free to meet and have discussions with National Assembly members, “but cannot engage with Maduro regime representatives unless cleared by the Department of State.” Maduro's crackdown on dissent spurs detentions.

      The Americans were among dozens of people, including activists, opposition members and union leaders, that Venezuela's government took into custody in its brutal campaign to crack down on dissent in the 11 months since Maduro claimed to win reelection.

      Besides the US, several other Western nations also do not recognise Maduro's claim to victory. They instead point to tally sheets collected by the opposition coalition showing that its candidate, Edmundo González, won the July 2024 election by more than a two-to-one margin.

      The dispute over results prompted immediate protests, and the government responded by detaining more than 2,000 people, mostly poor young men. González fled into exile in Spain to avoid arrest.

      More than 7.7 million Venezuelans have migrated since 2013, when its oil-dependent economy came undone and Maduro became president. Most settled in Latin America and the Caribbean, but after the COVID-19 pandemic, many saw the US as their best chance to improve their living conditions.

      The US and Venezuela have agreed on other releases Despite the US not recognising Maduro, the two governments have carried out other recent exchanges.

      In May, Venezuela freed a US Air Force veteran after about six months in detention. Joseph St Clair's family has said the language specialist, who served four tours in Afghanistan, had travelled to South America to seek treatment for post-traumatic stress disorder.

      Three months earlier, six other Americans whom the US government considered wrongfully detained in Venezuela were released after Richard Grenell, Trump's envoy for special missions, met with Maduro at the presidential palace.

      Grenell, during the meeting in Caracas, urged Maduro to take back deported migrants who have committed crimes in the US. Hundreds of Venezuelans have since been deported to their home country.

      Maduro's government had accused the Trump administration of “kidnapping” the children by placing them in foster care after their parents were deported. (AP) SKS RD RD

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