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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
    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
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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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    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
    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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      Mystery surrounds $1.2 billion Army contract to build huge detention tent camp in Texas desert

      August 28, 2025

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      Washington, Aug 28 (AP) When President Donald Trump's administration last month awarded a contract worth up to $1.2 billion to build and operate what it says will become the nation's largest immigration detention complex, it didn't turn to a large government contractor or even a firm that specialises in private prisons.

      Instead, it handed the project on a military base to Acquisition Logistics LLC, a small business that has no listed experience running a correction facility and had never won a federal contract worth more than $16 million.

      The company also lacks a functioning website and lists as its address a modest home in suburban Virginia owned by a 77-year-old retired Navy flight officer.

      The mystery over the award only deepened last week as the new facility began to accept its first detainees. The Pentagon has refused to release the contract or explain why it selected Acquisition Logistics over a dozen other bidders to build the massive tent camp at Fort Bliss in west Texas. At least one competitor has filed a complaint.

      The secretive — and brisk — contracting process is emblematic, experts said, of the government's broader rush to fulfil the Republican president's pledge to arrest and deport an estimated 10 million migrants living in the US without permanent legal status. As part of that push, the government is turning increasingly to the military to handle tasks that had traditionally been left to civilian agencies.

      A member of Congress who recently toured the camp said she was concerned that such a small and inexperienced firm had been entrusted to build and run a facility expected to house up to 5,000 migrants.

      “It's far too easy for standards to slip,” said Rep. Veronica Escobar, a Democrat whose district includes Fort Bliss. “Private facilities far too frequently operate with a profit margin in mind as opposed to a governmental facility.” Attorney Joshua Schnell, who specialises in federal contracting law, said he was troubled that the Trump administration has provided so little information about the facility.

      “The lack of transparency about this contract leads to legitimate questions about why the Army would award such a large contract to a company without a website or any other publicly available information demonstrating its ability to perform such a complicated project,” he said.

      Ken A Wagner, the president and CEO of Acquisition Logistics, did not respond to phone messages or emails. No one answered the door at his three-bedroom house listed as his company's headquarters. Virginia records list Wagner as an owner of the business, though it's unclear whether he might have partners.

      Army declines to release contract Defence Secretary Pete Hegseth approved using Fort Bliss for the new detention centre, and the administration has hopes to build more at other bases. A spokesperson for the Army declined to discuss its deal with Acquisition Logistics or reveal details about the camp's construction, citing the litigation over the company's qualifications.

      The Department of Homeland Security, which includes US Immigration and Customs Enforcement, declined to answer questions about the detention camp it oversees.

      Named Camp East Montana for the closest road, the facility is being built in the sand and scrub Chihuahuan Desert, where summertime temperatures can exceed 100 degrees Fahrenheit and heat-related deaths are common. The 60-acre (24-hectare) site is near the US-Mexico border and the El Paso International Airport, a key hub for deportation flights.

      The camp has drawn comparisons to “Alligator Alcatraz,” a $245 million tent complex erected to hold ICE detainees in the Florida Everglades. That facility has been the subject of complaints about unsanitary conditions and lawsuits. A federal judge recently ordered that facility to be shut down.

      The vast majority of the roughly 57,000 migrants detained by ICE are housed at private prisons operated by companies like Florida's Geo Group and Tennessee-based CoreCivic. As those facilities fill up, ICE is also exploring temporary options at military bases in California, New York and Utah.

      At Fort Bliss, construction began within days of the Army issuing the contract on July 18. Site work began months earlier, before Congress had passed Trump's big tax and spending cuts bill, which includes a record $45 billion for immigration enforcement. The Defence Department announcement specified only that the Army was financing the initial $232 million for the first 1,000 beds at the complex.

      Three white tents, each about 810 feet (250 metres) long, have been erected, according to satellite imagery examined by The Associated Press. A half dozen smaller buildings surround them.

      Setareh Ghandehari, a spokesperson for the advocacy group Detention Watch, said the use of military bases harkens back to World War II, when Japanese Americans were imprisoned at Army camps including Fort Bliss. She said military facilities are especially prone to abuse and neglect because families and loved ones have difficulty accessing them.

      “Conditions at all detention facilities are inherently awful,” Ghandehari said. “But when there's less access and oversight, it creates the potential for even more abuse.” Company will be responsible for security A June 9 solicitation notice for the Fort Bliss project specified the contractor will be responsible for building and operating the detention centre, including providing security and medical care. The document also requires strict secrecy, ordering the contractor inform ICE to respond to any calls from members of Congress or the news media.

      The bidding was open only to small firms such as Acquisition Logistics, which receives preferential status because it's classified as a veteran and Hispanic-owned small disadvantaged business.

      Though Trump's administration has fought to ban diversity, equity and inclusion programs, federal contracting rules include set-asides for small businesses owned by women or minorities. For a firm to compete for such contracts, at least 51% of it must be owned by people belonging to a federally designated disadvantaged racial or ethnic group.

      One of the losing bidders, Texas-based Gemini Tech Services, filed a protest challenging the award and the Army's rushed construction timeline with the US Government Accountability Office, Congress' independent oversight arm that resolves such disputes.

      Gemini alleges Acquisition Logistics lacks the experience, staffing and resources to perform the work, according to a person familiar with the complaint who wasn't authorised to discuss the matter and spoke on the condition of anonymity.

      Acquisition Logistics' past jobs include repairing small boats for the Air Force, providing information technology support to the Defence Department and building temporary offices to aid with immigration enforcement, federal records show.

      Gemini and its lawyer didn't respond to messages seeking comment.

      A ruling by the GAO on whether to sustain, dismiss or require corrective action is not expected before November. A legal appeal is also pending with a US federal court in Washington.

      Schnell, the contracting lawyer, said Acquisitions Logistics may be working with a larger company. Geo Group Inc and CoreCivic Corp, the nation's biggest for-profit prison operators, have expressed interest in contracting with the Pentagon to house migrants.

      In an earnings call this month, Geo Group CEO George Zoley said his company had teamed up with an established Pentagon contractor. Zoley didn't name the company, and Geo Group didn't respond to repeated requests asking with whom it had partnered.

      A spokesperson for CoreCivic said it wasn't partnering with Acquisition Logistics or Gemini. (AP) SCY SCY

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