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July 31, 2026
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Procedural Fair Hearing in competition inquiries requires notice when the Commission departs from investigative findings before imposing action.
Competition law procedure requires the Competition Commission to notify and hear an opposite party when departing from the Director General's findings. The penalty order concerning alleged abuse of dominance in viscose staple fibre supply was set aside because Grasim Industries was not given an opportunity to respond to the Commission's disagreement with the investigative findings. The matter was remanded for fresh, time-bound consideration without a finding on the merits.
July 31, 2026
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Manufacturing contraction highlights weak domestic demand, property-sector pressure and continued reliance on technology-related exports for economic growth.
Manufacturing activity in China contracted in July, as the official purchasing managers' index fell below the expansion threshold and new orders and production declined. Weak domestic demand, lower building activity and possible typhoon-related disruptions contributed to the slowdown. Consumer spending, investment and property-sector weakness continue to affect confidence, while technology-related exports support growth. Policy commitments include strengthening domestic consumption amid continued reliance on exports.
July 31, 2026
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Public-private partnership airport development strengthens aviation, cargo logistics, export infrastructure and sustainable connectivity through an integrated international airport project.
The Bhogapuram airport project is being implemented under a Public-Private Partnership through the Design, Build, Finance, Operate and Transfer framework. It has obtained required aerodrome, safety, fire and environmental clearances and includes infrastructure for domestic and international aviation, passenger processing and airport security. Cargo and cold-chain facilities are intended to support exports and logistics integration, while recycled-water use and LEED Platinum standards form part of the project's sustainability features.
July 31, 2026
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Rupee appreciation against the US dollar continued as foreign inflows and lower crude prices supported domestic currency markets.
Rupee appreciation against the US dollar continued in early trading, supported by foreign capital inflows and lower global crude oil prices. A stronger US dollar constrained further appreciation, while expectations of continued Reserve Bank of India intervention were cited as supporting the rupee. Declining Brent crude prices, gains in domestic equity indices and net foreign institutional investment in equities were also identified as relevant market factors.
July 31, 2026
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Value-added Makhana exports expand international market access, support quality compliance, and improve farmer returns through processing and branding.
Agricultural export facilitation supported the first sea shipment of value-added flavoured Makhana from Bihar to Canada. Processed and packaged to international quality and food-safety standards, the export demonstrates the role of processing, value addition and export-oriented manufacturing in expanding overseas market access. The initiative is stated to improve farmer returns through value addition, while capacity building, export infrastructure, quality compliance, market linkages and stakeholder collaboration support the agri-export ecosystem.
July 30, 2026
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Market access for Indian pharmaceuticals remains central to bilateral efforts to promote sustainable trade and economic cooperation.
Enhanced market access for Indian products, particularly pharmaceuticals, was raised in discussions aimed at strengthening bilateral trade and economic ties. The discussions addressed sustainable trade, and the sides agreed to increase mutual cooperation and communication. India continues to seek greater access to China's information technology, pharmaceutical and agricultural sectors, while pursuing increased pharmaceutical exports and Chinese investment. Bilateral trade increased, but India's trade deficit widened, reflecting an ongoing imbalance in trade flows.
July 30, 2026
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Money laundering asset attachment targets overseas bank deposits linked to alleged loan fraud and fugitive economic offenders.
Provisional attachment under the Prevention of Money Laundering Act was reported against Singapore bank deposits held by a company promoter and associated entities in an alleged loan-fraud and money-laundering investigation. The underlying case arises from allegations of fraud, criminal misappropriation, criminal breach of trust and cheating affecting a consortium of lending banks. Service of the attachment order was reported through mutual legal-assistance arrangements, and the promoters had reportedly been declared fugitive economic offenders.
July 30, 2026
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Deposit interest rate uniformity requires equal rates for similar deposits, while allowing risk-based differentiation for bulk deposits.
Banks must apply uniform deposit interest rates across branches and customers for similar deposit amounts accepted on the same date, without discrimination. Rates payable, including for bulk deposits, must strictly follow schedules disclosed in advance on bank websites. Bulk deposit rates must be published each business day at 10:00 am, subject to a short permitted delay. Differentiated bulk-deposit rates may be offered based on applicable differential run-off rates under the Liquidity Coverage Ratio framework.
July 30, 2026
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Supply-chain continuity measures prioritise energy, fertiliser and seafarer protection amid conflict-driven disruptions across critical maritime transit routes.
Supply-chain continuity and energy security measures were reviewed in response to geopolitical conflicts disrupting maritime transit routes and imports. Measures included diversification of LPG procurement, maintenance of petroleum stocks, expansion of PNG, gas-grid, LNG and city-gas infrastructure, and pipeline connectivity approvals. Fertiliser requirements and alternative procurement sources were considered to ensure uninterrupted supply. A unified monitoring mechanism and support arrangements for seafarers, including timely information, emergency assistance and counselling, were directed to protect citizens, economic interests and the Indian diaspora.
July 30, 2026
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Property digital identity framework proposed through comprehensive surveys, floor-level records, and unique cards to improve ownership verification.
The proposed Delhi Land Records Bill, 2026 contemplates a digital land-records framework requiring scientific surveys of every property, comprehensive authenticated digital records and a unique Property Aadhaar Card. The proposed system would cover rural and urban residential, commercial and other properties, including floor-level records for buildings. It is intended to improve ownership verification, property transactions, inheritance, loan access, building-plan approvals and transparency in land records.
July 30, 2026
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Supply-chain resilience amid maritime conflict drives measures to protect energy imports, fertiliser supplies, seafarers and overseas citizens.
Supply-chain continuity was reviewed in response to conflicts affecting maritime routes through the Strait of Hormuz, the Black Sea, the Red Sea and the Gulf of Aden. The concerns included disruptions to imports of petroleum, natural gas, fertilisers and other essential goods, risks to ships and seafarers, and the safety of Indian citizens in conflict areas. Measures were considered to maintain uninterrupted imports, protect economic interests and address constraints affecting critical energy and trade corridors.
July 30, 2026
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Economic growth and persistent inflation shaped slower output, import pressures, and continued interest-rate restraint despite resilient consumer spending.
United States economic growth slowed in the second quarter as increased imports reduced gross domestic product growth, despite stronger consumer spending and business investment linked to artificial intelligence. The preferred inflation measure moderated but remained above the central bank's target, with core consumer prices showing limited change. The benchmark interest rate was retained for a fifth consecutive meeting, though some regional presidents supported an increase to address elevated inflation. Employment growth and consumer spending continued to support economic resilience amid high living costs and energy-price pressures.
July 30, 2026
Show AI Summary
Gold market volatility reflects retail buying, global price trends, currency movements, and weaker domestic demand linked to higher customs duty.
Gold prices rose on fresh buying by jewellers and retailers amid firm international trends, while silver prices declined. Improved domestic demand and a pullback in the US dollar supported gold, though a stronger rupee limited further gains. India's gold demand declined year-on-year during April-June, attributed to seasonally subdued sales, higher customs duty and an appeal to reduce purchases. Global gold demand remained broadly unchanged, while precious metals were expected to remain volatile and range-bound.
July 30, 2026
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Protection and indemnity insurance expands domestic maritime risk coverage for third-party liabilities and strengthens self-reliant insurance capacity.
Bharat Maritime Insurance Pool has introduced a sovereign-backed Protection & Indemnity insurance product to cover third-party maritime liabilities, including crew and cargo claims, pollution liability and wreck removal. The product expands the pool beyond cargo and hull war-risk coverage and is supported by combined indemnity capacity and a port-correspondent network. The pool is intended to maintain uninterrupted maritime war-risk insurance, build domestic underwriting capacity, strengthen maritime risk management, reduce foreign-market dependence and promote self-reliance in specialised insurance solutions.
July 30, 2026
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Cloud-native digital banking transformation integrates lending, cash management and liquidity tools while supporting scalable, resilient and compliant operations.
Digital banking transformation through a cloud-native software-as-a-service platform entails migration from legacy systems to integrated deposits, lending, virtual account management and liquidity-management capabilities. Real-time data, artificial intelligence foundations, open APIs and event-driven architecture are intended to support digital banking products, corporate cash management and operational agility. Liquidity tools are designed to provide visibility and control over cash positions and working capital. The implementation is intended to deliver scalability, resilience, security and high availability while assisting regulatory compliance; projected benefits remain subject to risks and uncertainties.
July 30, 2026
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Workplace culture recognition highlights continued investment in employee wellbeing, inclusion, learning, collaboration and growth at a stockbroking firm.
Workplace culture recognition was awarded to Kotak Securities through Great Place to Work Certification for a second consecutive year and inclusion among India's Best Workplaces in Investments 2026. The recognition followed assessment of employee feedback, workplace practices and organisational culture, reflecting employee trust, engagement and belonging. The company states that it will continue initiatives supporting employee wellbeing, learning and development, inclusion, collaboration and growth.
July 30, 2026
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Pro-competitive reforms strengthen market conditions through competition policy, investment review, trade facilitation, and reduced international regulatory barriers.
Structural and pro-competitive reforms between 2010 and 2023 are assessed as reducing market distortions and strengthening competitiveness. The assessment covers property-rights protection, domestic competition and international competition, including the Goods and Services Tax, Insolvency and Bankruptcy Code, regulatory improvements and trade-facilitation modernisation. Further priorities include evidence-based competition policy, consumer-welfare review of sector-specific investment restrictions, and cooperation to address international regulatory barriers.
July 30, 2026
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Aadhaar enrolment access expands through a new service centre, with coordinated efforts focused on improving young children's coverage.
Aadhaar enrolment in Manipur has reached approximately 87-88 per cent, with comparatively lower coverage among children aged 0-5 years. The first Aadhaar Seva Kendra in Imphal has been inaugurated to expand access to enrolment and Aadhaar-related services. The State Government is coordinating with welfare and health departments, hospitals and UIDAI to improve young children's enrolment, alongside services available through Deputy Commissioners' offices and authorised enrolment centres.
July 30, 2026
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Secured retail lending growth accompanied enhanced credit controls, digital lending processes, and branch expansion by a middle-layer non-banking finance company.
IndoStar Capital Finance Limited, a middle-layer non-banking finance company registered with the Reserve Bank of India, reported growth in secured used-vehicle finance and micro loans against property for the quarter ended June 30, 2026. It reported higher disbursements, assets under management and net interest income, alongside a lower weighted average cost of funds. The company also stated that it strengthened underwriting, customer-selection filters, scorecards and early-warning systems, while advancing electronic lending processes and expanding its branch and micro-loans-against-property network.
July 30, 2026
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Gold demand trends show central bank buying and OTC investment offsetting weaker ETF and jewellery demand.
Global gold demand remained broadly unchanged during the April-June quarter, with reduced gold exchange-traded fund, bar and coin investment offset in part by over-the-counter investment supported by Asian investors. Central banks and official institutions increased net additions to gold reserves, while high prices reduced jewellery volumes and encouraged demand for lighter products. Total supply was unchanged as increased mine production was offset by lower recycling. Investment is expected to drive future demand, while high prices may continue to constrain jewellery demand and recycling.

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Customs & Trade

Drones, oil and escalation: Ukraine's deep strikes impact Russia, altering war calculations

October 31, 2025

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Kyiv, Oct 31 (AP) At a secret location in rural Ukraine, columns of attack drones are assembled at night and in near silence to strike deep inside Russia.

Their targets are strategic: oil refineries, fuel depots, and military logistics hubs. Since the summer, Ukraine's long-range drone campaign has ramped up dramatically, pounding energy infrastructure across Russia and stretching Moscow's air defences thin.

Built from parts made in a scattered network of workshops, these drones now fly much further than at any point in the war.

Officers in body armour move with quick precision; headlamps glow red to stay hidden. Engines sputter like old motorcycles as exhaust fumes drift into the moonless night. Minutes later, one after another, the drones lift from a makeshift runway and head east. The strikes have caused gasoline shortages in Russia, even forcing rationing in some regions and underscoring a growing vulnerability in the country's infrastructure.

Drones hammer refineries ----------------------------- Western analysts say the attacks on energy infrastructure so far have had a serious — but not crippling — effect. Ukrainian drones have repeatedly hit 16 major Russian refineries, representing about 38 per cent of the country's nominal refining capacity, according to a recent review by the Carnegie Endowment, a US-based think tank.

But it argues the actual impact has been considerably more limited: most plants resumed operations within weeks, and Russia's refining output has been cushioned by idle capacity and existing fuel surpluses.

The deep strikes have, however, given Kyiv the initiative at an important moment. The United States and Europe are ramping up sanctions on Russia's oil industry even as Kyiv's request for US long-range Tomahawk missiles has stalled. President Volodymyr Zelenskyy says Ukraine's improved long-range strike capability is causing real damage – forcing the Kremlin to import fuel and curb exports. “We believe they've lost up to 20 per cent of their gasoline supply — directly as a result of our strikes,” he told reporters at a briefing in Kyiv.

At the secret launch site, the commander overseeing the operation — a broad-shouldered man identified by his call sign, “Fidel,” in accordance with Ukrainian military regulations — watches through night-vision goggles as the drones climb into the star-filled sky.

“Drones are evolving,” Fidel told The Associated Press. “Instead of flying 500 kilometers (310 miles), now they fly 1,000 ... Three factors go into a successful operation: the drones, the people and the planning. We want to deliver the best result. For us, this is a holy mission.” Ukraine thrives on no-frills weapons --------------------------------------- Much of Ukraine's fleet is homegrown. The Liutyi, a workhorse of the nightly attacks, is a waist-high craft with a sausage-shaped body, a propeller at the back, and a distinctive triangular tail.

It looks neither sleek nor intimidating — more Home Depot than Lockheed Martin — but the ease of assembly means it can be kept hidden and constantly tweaked: optimized to slip through heavily monitored frontline airspace.

Typical of Ukraine's no-frills war production philosophy, the Liutyi — whose name means “fierce” in Ukrainian — has become a symbol of national pride and recently featured on a local postage stamp.

The reach of these drones — with some models doubling in range over the past year to routinely strike targets within a 1,000-kilometer radius of the border — marks a shift in the geography of the conflict. Attacks a year ago damaged refineries in a much narrower range, mostly in western Russian border regions. Costs have also come down, further testing expensive air defense systems, with long-range drones now being produced in Ukraine for as little as USD 55,000.

A shift in conflict geography ------------------------------ “What we're seeing is that Ukraine is getting better at taking the war inside Russia,” said Adriano Bosoni, director of analysis at RANE, a global risk analysis firm. “For most of the war, Russia operated on the assumption that its own territory was safe. That's no longer the case.” The strategic logic is attrition by logistics, he argued: by forcing Russia to reroute supplies and commit air defences to a wider area, Kyiv seeks to degrade Moscow's capacity to sustain large-scale operations.

The Paris-based International Energy Agency says repeated drone strikes have cut Russia's refining capacity by about 500,000 barrels a day. That's triggered domestic fuel shortages and curbed exports of diesel and jet fuel, even as overall global oil production remains steady and prices stable.

Kyiv's homegrown strike capability allows independent drone launches, bypassing the Western approval required for imported long-range weapons. That autonomy preceded tougher sanctions on Russia: allies escalated only after Ukraine had spent months hitting Russian refineries.

On the ground, each mission is a study in tradeoffs. Fewer than 30 per cent of drones even reach the target area, so meticulous planning is essential, said Fidel, who reflected on the human cost. “War has fallen to our generation so that we can fight for our kids and they can live in a free democratic country,” he said. “We are currently obtaining experience that will be used by every country in the world, and we are paying the price with our lives and the lives of our friends.” (AP) RD RD

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