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    Cabinet okays new National Investment Policy to create 10 mn tons of fresh urea capacity
    India-UK trade pact 'new gold standard' of trade deals: UK High Commissioner Cameron
    World shares are mixed, oil prices climb as Iran threatens to block Middle East energy exports
    Raktsey Karpo, Halman apricots spearhead Ladakh's biggest export drive; LG pitches processing unit
    UK-India trade agreement significant milestone: Vice president
    Commerce Minister Piyush Goyal must clarify: Cong slams govt on US bill for 100-pc tariffs on India
    Tehran threatens to halt all Mideast energy exports after US reimposes its blockade on Iran
    RBI invites public comments on the draft “Reserve Bank of India (Acquisition and Holding of Shares or Voting Rights) Amendment Directions, 2026”
    PROVISIONAL ESTIMATES OF WHOLESALE PRICE INDEX, OUTPUT PRODUCER PRICE INDEX, AND TRIAL INPUT PRODUCER PRICE INDEX FOR THE MONTH OF JUNE 2026, AND FINA...
    PM hails operationalisation of India-UK CETA; says it will give fresh momentum to farmers, MSMEs
    India-UK trade pact comes into force
    Rayzon Solar Achieves NABL Accreditation for Its R&D Laboratory, Elevating Standards in Solar Manufacturing Excellence
    China's economy grew at 4.3% annual pace in 2nd quarter, slowest since late 2022
    Industry celebrates 'landmark' FTA entry into force to catalyse India-UK trade
    Stock markets rebound in early trade; Sensex jumps 553 points
    Rupee rises 5 paise to 96.11 against US dollar in early trade
    US Senators unveil bill for 100 per cent tariffs on India, four others for buying Russian oil
    PNB case: Nirav Modi's sister wants to record her statement via video conference
    Rupee falls 48 paise to close at 96.16 against US dollar
    RBI guv asks banks to leverage advanced technologies
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    July 15, 2026
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    Domestic urea investment policy supports new natural gas-based capacity through subsidy-cost separation, assured returns, and foreign-exchange risk mitigation.
    National Investment Policy 2026 establishes an investment framework to add domestic natural gas-based urea production capacity and reduce import reliance. Extending the New Investment Policy 2012, it provides for separation of fixed and variable costs for subsidy calculation, assured returns for urea plant companies, and foreign-exchange risk mitigation to support investment in new domestic urea manufacturing capacity.
    July 15, 2026
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    India-UK free trade agreement expands zero-duty export access and reduces duties on specified United Kingdom goods.
    The India-UK Comprehensive Economic and Trade Agreement entered into force with zero-duty market access for nearly all Indian exports to the United Kingdom. It is expected to support sectors including textiles, leather, gems and jewellery, engineering goods, marine products, chemicals and processed foods. A bilateral social security agreement has also become operational. The arrangement reduces Indian import duties on specified United Kingdom goods, including Scotch whisky and premium UK-built cars.
    July 15, 2026
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    Middle East energy export disruption risks raise oil prices and unsettle global equity markets amid renewed conflict.
    Middle East energy-export disruption risks increased following renewed conflict and a threatened halt to regional oil and gas exports amid a blockade of Iranian ports. Concerns over the security of shipping through the Strait of Hormuz contributed to higher oil prices and reduced Gulf traffic flows, reflecting the potential for wider interruption of energy transportation. Global equity markets showed mixed movements as investors assessed escalating conflict, oil-supply disruption, inflation data and corporate earnings.
    July 15, 2026
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    Apricot export facilitation enables overseas market access through exporter-managed supply chains, cold-chain transport, and proposed local processing capacity.
    Apricot export facilitation for Ladakh's indigenous Raktsey Karpo and Halman varieties is being implemented through an agreement under which exporters manage harvesting, sorting, grading, packing, transportation and marketing. Administrative measures include transport monitoring, expedited transit arrangements and cold-chain support for perishable produce. A proposed apricot processing unit is intended to improve value addition, address short shelf life and support smoother exports while reducing post-harvest losses.
    July 15, 2026
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    India-UK trade agreement expands market access, tariff reductions, services trade and professional mobility across identified commercial sectors.
    The India-UK Comprehensive Economic and Trade Agreement entered into force as a free trade arrangement intended to expand bilateral market access and promote movement of goods and services. It provides for tariff reductions and supports trade, services and professional mobility. The agreement is expected to create opportunities for businesses, entrepreneurs, farmers, manufacturers, MSMEs and skilled workers, including in textiles, leather, gems and jewellery, engineering goods, marine products, chemicals and processed foods.
    July 15, 2026
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    Punitive tariffs for Russian oil purchases could make trade duties a geopolitical mechanism targeting India and other countries.
    Proposed United States tariff legislation would impose punitive tariffs on India and other specified countries for purchasing oil from Russia. Certain European countries purchasing Russian gas would be exempted on the stated basis that their purchases are limited and that they are reducing dependence on Russia. If enacted, the measure would expressly authorise tariffs as a geopolitical mechanism directed at countries considered to be financing another nation's war effort.
    July 15, 2026
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    Strait of Hormuz transit rights remain contested as blockade measures, toll disputes, and hostilities threaten regional energy exports.
    Maritime access through the Strait of Hormuz is disputed following the reimposition of a naval blockade, retaliatory threats affecting regional energy exports, and attacks on shipping routes. An interim arrangement had provided for toll-free transit during a limited negotiating period but left the later regulatory position unresolved. One side asserts a right to regulate traffic and potentially levy transit charges, while the opposing position maintains that passage should remain open without tolls. Continuing hostilities and stalled negotiations threaten navigational access and energy trade flows.
    July 15, 2026
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    Major banking shareholding acquisitions: draft directions propose simplified approval for subsequent investments by institutional fund categories.
    Draft directions propose a simplified approval process for subsequent acquisitions of major shareholding or voting rights in banking companies by mutual funds, insurance companies and pension funds. The proposals cover commercial banks, small finance banks, payments banks and local area banks. Regulated entities, the public and other stakeholders may provide feedback through the Reserve Bank's online consultation facility or by email within the stated consultation period.
    July 15, 2026
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    Wholesale and producer price indices report rising June inflation, revisions to April estimates, and manufacturing input-price movements.
    Provisional June 2026 and final April 2026 estimates are reported for the Wholesale Price Index, Output Producer Price Index, and trial Input Producer Price Index under the base year 2022-23. Wholesale inflation increased year-on-year, driven principally by mineral oils, food articles, basic metals, and chemicals and chemical products. April WPI and Output PPI estimates were revised upward, while the April trial Input PPI was revised downward. The release also provides group-wise monthly and cumulative index data, weighted response rates for WPI estimates, and provisional and final data classifications.
    July 15, 2026
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    India-UK trade agreement operationalisation expands market access, tariff reductions, skilled mobility and social security support for enterprises and professionals.
    The India-United Kingdom Comprehensive Economic and Trade Agreement is intended to facilitate greater two-way movement of goods and services through tariff reductions and stronger access to the UK market for farmers, entrepreneurs, MSMEs and other sectors. Together with the Agreement on Social Security, it is described as promoting cooperation in technology, professional services and innovation, supporting mobility for skilled Indian talent, and assisting Indian professionals temporarily working in the UK.
    July 15, 2026
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    Zero-duty market access under the India-UK trade pact expands opportunities for domestic goods, enterprises, professionals and skilled mobility.
    The India-UK Comprehensive Economic and Trade Agreement has been operationalised, enabling a range of domestic goods to enter the UK market at zero customs duty and expanding market access for Indian farmers, entrepreneurs and micro, small and medium enterprises. A social security agreement has also entered into force to support Indian professionals temporarily working in the UK, improve enterprise competitiveness, and complement cooperation in technology, professional services, innovation and skilled-worker mobility.
    July 15, 2026
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    Accredited photovoltaic module testing strengthens reliability validation, safety qualification, and in-house product development under internationally recognised laboratory quality standards.
    NABL accreditation under ISO/IEC 17025:2017 recognises a photovoltaic module laboratory's technical competence to conduct testing through accepted procedures, calibrated equipment, qualified personnel and quality-management controls. Its scope includes module design and safety qualification, degradation testing and high-temperature operating-condition assessment. Environmental, electrical and mechanical evaluations-including thermal cycling, damp heat, humidity freeze, UV exposure, mechanical loads, leakage current, insulation and power testing-support design verification, reliability analysis, manufacturing consistency and product development.
    July 15, 2026
    Show AI Summary
    Export-led growth exposes weak domestic demand as high-technology manufacturing support raises trade imbalance and employment concerns.
    China's growth has become increasingly reliant on strong exports of high-technology manufactured products, while domestic consumption and investment remain weak. Household spending is constrained by the property-sector downturn and uncertainty over jobs and wages. Policy support and investment in artificial intelligence, robotics and advanced manufacturing have strengthened exports but raised concerns about trade imbalances, excess production capacity and employment creation. The policy direction identified is to strengthen the domestic market and maintain employment while pursuing higher-quality growth.
    July 15, 2026
    Show AI Summary
    India-UK trade agreement enables tariff reductions, market access and digital trade facilitation for expanded cross-border commerce and investment.
    India-UK Comprehensive Economic and Trade Agreement (CETA) entered into force, establishing tariff reductions, expanded market access and greater certainty for cross-border trade and investment. Its 30 chapters cover trade in goods and services, sanitary and phytosanitary measures, technical barriers to trade, digital trade, intellectual property and government procurement. Trade-facilitation and digital provisions are intended to improve cross-border commerce, while the framework supports bilateral business, investment and collaboration across services, manufacturing, technology and healthcare sectors.
    July 15, 2026
    Show AI Summary
    Equity market rebound follows softer United States inflation, supporting expectations of a less aggressive Federal Reserve policy stance.
    Indian benchmark equity indices rebounded in early trading, supported by bank and selected large-cap shares after the preceding session's decline. Softer-than-expected United States consumer inflation strengthened expectations of a less aggressive Federal Reserve monetary-policy stance and supported global risk sentiment. Stronger United States equities, generally positive Asian markets, Brent crude movements and foreign institutional investor equity sales were identified as relevant market factors.
    July 15, 2026
    Show AI Summary
    Foreign exchange market conditions lifted the rupee early, but crude prices, investor outflows and geopolitical tensions restrained gains.
    Foreign exchange market conditions supported an early appreciation of the rupee against the US dollar, while elevated crude oil prices, foreign institutional investor outflows, higher US Treasury yields and West Asia tensions limited gains. A weaker dollar and positive domestic equity-market opening provided support. Intensified US-Iran conflict and risks to regional energy exports contributed to higher crude prices and dollar demand. Higher wholesale price inflation and growth in net direct tax collection formed part of the domestic economic backdrop.
    July 15, 2026
    Show AI Summary
    Proposed geopolitical tariffs would target major purchasers of Russian oil, alongside broad sanctions on Russia's economic sectors.
    Proposed United States legislation would authorise tariffs of up to 100 per cent on India, China, Slovakia, Hungary and Azerbaijan as major purchasers of Russian oil. It also contemplates broad blocking sanctions affecting Russia's energy, financial and defence sectors and designated persons. The tariffs would be narrowly targeted and subject to restricted waiver authority, while certain European purchasers of Russian gas would be exempted based on limited dependence and efforts to reduce reliance on Russia.
    July 14, 2026
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    Video-conference statement request in PNB fraud case pending decision on approver plea, with prosecution reply sought
    Purvi Modi, an accused in the Punjab National Bank fraud case, has sought permission to record her statement before the special CBI court through video conference. She has applied to become an approver, and the CBI has stated that her statement should be recorded before that application is decided. The court has sought the prosecution's response. Purvi Modi and her husband have already become approvers in a related money-laundering investigation conducted by the Enforcement Directorate.
    July 14, 2026
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    Rupee depreciation reflects crude oil pressures, safe-haven dollar demand, widening trade deficit, and rising global economic uncertainty
    The Indian rupee depreciated against the US dollar amid higher crude oil prices, renewed geopolitical concerns, increased safe-haven demand for the dollar, and rising global bond yields. Higher crude prices increased India's dollar-denominated import requirements, widened the trade deficit, and intensified foreign-exchange outflows. Merchandise exports increased year-on-year, but the trade deficit widened because of stronger imports. Wholesale price inflation also rose, while net direct tax collections increased on account of higher corporate tax receipts.
    July 14, 2026
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    Advanced technology in banking requires cybersecurity, internal controls, fraud prevention, and safeguards against data misuse.
    Banks were encouraged to use advanced technologies, including artificial intelligence, to expand their reach, improve operational efficiency, reduce costs, and enhance customer experience. This approach must be supported by robust cybersecurity, strong internal controls, and safeguards against fraud and misuse of data. The banking sector was also urged to serve all segments of the economy prudently, strengthen customer service, and consider developments involving the Central KYC Records Registry, counterfeit currency detection, MuleHunter, central bank digital currency, the Unified Lending Interface, Account Aggregator, FX Retail, and Retail Direct.

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      Senate passes $901 billion defence bill that pushes Hegseth for boat strike video

      December 18, 2025

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      Washington, Dec 17 (AP) The Senate gave final passage on Wednesday to an annual military policy bill that will authorise $901 billion in defense programs while pressuring Defense Secretary Pete Hegseth to provide lawmakers with video of strikes on alleged drug boats in international water near Venezuela.

      The annual National Defense Authorization Act, which raises troop pay by 3.8%, gained bipartisan backing as it moved through Congress. It passed the Senate on a 77-20 vote before lawmakers planned to leave Washington for a holiday break. Two Republicans — Sens. Rand Paul and Mike Lee — and 18 Democrats voted against the bill.

      The White House has indicated that it is in line with President Donald Trump's national security priorities. However, the legislation, which ran over 3,000 pages, revealed some points of friction between Congress and the Pentagon as the Trump administration reorients its focus away from security in Europe and toward Central and South America.

      The bill pushes back on recent moves by the Pentagon. It demands more information on boat strikes in the Caribbean, requires that the US keep its troop levels in Europe at current levels and sends some military aid to Ukraine.

      But overall, the bill represents a compromise between the parties. It implements many of Trump's executive orders and proposals on eliminating diversity and inclusion efforts in the military and grants emergency military powers at the US border with Mexico. It also enhances congressional oversight of the Department of Defense, repeals several years-old war authorizations and seeks to overhaul how the Pentagon purchases weapons as the US tries to outpace China in developing the next generation of military technology.

      “We're about to pass, and the president will enthusiastically sign, the most sweeping upgrades to DOD's business practices in 60 years,” said Sen. Roger Wicker, the Republican chair of the Senate Armed Services Committee.

      Still, the sprawling bill faced objections from both Democratic and Republican leadership on the Senate Commerce Committee. That's because the legislation allows military aircraft to obtain a waiver to operate without broadcasting their precise location, as an Army helicopter had done before a midair collision with an airliner in Washington, D.C. in January that killed 67 people.

      "The special carve-out was exactly what caused the January 29th crash that claimed 67 lives,” Sen. Ted Cruz, the Republican chair of the Senate Commerce Committee, said at a news conference this week.

      Cruz said he was seeking a vote on bipartisan legislation in the next month that would require military aircraft to use a precise location sharing tool and improve coordination between commercial and military aircraft in busy areas.

      Boat strike videos ------------------- Republicans and Democrats agreed to language in the defense bill that threatened to withhold a quarter of Hegseth's travel budget until he provided unedited video of the strikes, as well as the orders authorizing them, to the House and Senate Committees on Armed Services.

      Hegseth was on Capitol Hill Tuesday ahead of the bill's passage to brief lawmakers on the US military campaign in international water near Venezuela. The briefing elicited contrasting responses from many lawmakers, with Republicans largely backing the campaign and Democrats expressing concern about it and saying they had not received enough information.

      The committees are investigating a Sept. 2 strike — the first of the campaign — that killed two people who had survived an initial attack on their boat. The Navy admiral who ordered the “double-tap” strike, Adm. Frank “Mitch” Bradley, also appeared before the committees shortly before the vote Wednesday in a classified briefing that also included video of the strike in question.

      Several Republican senators emerged from the meeting backing Hegseth and his decision not to release the video publicly, but other GOP lawmakers stayed silent on their opinion of the strike.

      Democrats are calling for part of the video to be released publicly and for every member of Congress to have access to the full footage.

      “The American people absolutely need to see this video,” said Sen. Richard Blumenthal, a Connecticut Democrat. "I think they would be shocked.” Congressional oversight -------------------------- Lawmakers have been caught by surprise by the Trump administration several times in the last year, including by a move to pause intelligence sharing with Ukraine and a decision to reduce US troop presence in NATO countries in eastern Europe. The defense legislation requires that Congress be kept in the loop on decisions like that going forward, as well as when top military brass are removed.

      The Pentagon is also required, under the legislation, to keep at least 76,000 troops and major equipment stationed in Europe unless NATO allies are consulted and there is a determination that such a withdrawal is in US interests. Around 80,000 to 100,000 US troops are usually present on European soil. A similar requirement also keeps the number of US troops stationed in South Korea at 28,500.

      Lawmakers are also pushing back on some Pentagon decisions by authorizing $400 million for each of the next two years to manufacture weapons to be sent to Ukraine.

      Cuts to diversity and climate initiatives ------------------------------------------ Trump and Hegseth have made it a priority to purge the military of material and programs that address diversity, anti-racism or gender issues, and the defense bill would codify many of those changes. It will repeal diversity, equity and inclusion offices and trainings, including the position of chief diversity officer. Those cuts would save the Pentagon about $40 million, according to the Republican-controlled House Armed Services Committee.

      The US military has long found that climate change is a threat to how it provides national security because weather-related disasters can destroy military bases and equipment. But the bill makes $1.6 billion in cuts by eliminating climate-change related programs at the Pentagon.

      Repeal of war authorisations and Syria sanctions ----------------------------------------------------- Congress is writing a closing chapter to the war in Iraq by repealing the authorization for the 2003 invasion. Now that Iraq is a strategic partner of the US, lawmakers in support of the provision say the repeal is crucial to prevent future abuses. The bill also repeals the 1991 authorisation that sanctioned the US-led Gulf War.

      The rare, bipartisan moves to repeal the legal justifications for the conflicts signaled a potential appetite among lawmakers to reclaim some of Congress's war powers. (AP) AMS

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