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    Syria signs landmark offshore oil field deal with Chevron and Qatari investor
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    Rupee falls 15 paise to close at 90.47 against US dollar
    Competition Comm orders detailed probe against IndiGo for unfair biz practices
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February 4, 2026
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Syria offshore oil deal with Chevron and Qatari investor establishes framework for joint exploration and foreign investment.
A memorandum of understanding between Syria's state-owned petroleum company, Chevron, and Power International Holding creates a framework for joint offshore exploration and development in Syria's territorial waters, focusing on attracting foreign investment, mobilising technical expertise, and enabling operational collaboration under Syrian oversight to expand hydrocarbon production.
February 4, 2026
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Air India Express expects operating profit and plans USD 70M cabin refurbishment and fleet retrofits.
Air India Express projects an operating profit in the second half of FY2025-26 and will invest USD 70 million to standardise and refurbish aircraft cabin interiors, including retrofitting 26 Boeing 737 NGs and ongoing retrofit work on 50 Boeing 737 MAXs that includes converting business-class-configured MAXs to all-economy and upgrading interiors.
February 4, 2026
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Rupee slips to 90.47 as trade deal uncertainty, weak services PMI and higher oil curb gains; range seen 90-90.60.
The rupee depreciated 15 paise to 90.47 against the US dollar amid suspected corporate and importer dollar buying and caution over unsigned India-US trade deal terms, while weaker services PMI and elevated crude oil prices limited gains; analysts cited a near-term USD-INR trading range of 90.00-90.60 with support near 90.05 and resistance around 91.10, and flagged the central bank's upcoming interest rate announcement as a key market influence.
February 4, 2026
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IndiGo faces a CCI probe for allegedly abusing its dominant position by cancelling flights and creating artificial scarcity, limiting access.
CCI ordered a detailed DG investigation after prima facie finding that IndiGo abused its dominant position by cancelling thousands of flights, withholding services and creating artificial scarcity in the domestic air passenger transport market. The regulator noted IndiGo's sustained ~60-61% ASKM share, route exclusivity, larger fleet and financial strength as indicia of dominance, rejected jurisdictional objections, and observed that DGCA lacks competition-law analysis functions, thereby affirming CCI's authority to probe alleged abuse under the Competition Act.
February 4, 2026
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Dalit MPs seek action over presiding officer being called 'yaar'; members suspended for rest of Budget Session.
Dalit MPs lodged a written complaint with the Lok Sabha Speaker alleging that a presiding officer from their community was insulted when opposition members addressed him as "yaar," that the conduct demeaned the Chair and targeted the officer's community, and that papers were thrown at the Chair; following the disorder, eight members were suspended for the remainder of the Budget Session.
February 4, 2026
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India oil purchases remain diversified; replacing Russian crude faces technical blending and volume limits amid tariff tensions.
Kremlin spokespeople rejected assertions that India agreed to stop buying Russian oil, stating India may freely diversify suppliers; analysts warned U.S. light shale cannot directly replace Russia's heavier Urals without costly blending and that U.S. export volumes are insufficient to match Russian shipments. The report also highlights U.S. tariffs on India tied to Russian energy purchases and notes recent declines in India's Russian crude imports.
February 4, 2026
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Telangana politics: BJP accuses the state government of appeasement, welfare failures and preferential land allocations.
The BJP accused the Telangana government of practising appeasement politics and suppressing Telugu language and culture, citing past remarks as evidence of vote bank politics. The party alleged that the Wakf Board's large landholdings indicate preferential allocation, that promised welfare schemes for women, farmers and disadvantaged groups remain unimplemented, and that temple vandalism and a continuing "commission raj and mafia raj" reflect governance failures; these claims underpin the BJP's electoral mobilisation strategy.
February 4, 2026
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India-US trade deal lacks details; government says agriculture safeguarded while opposition calls it a non-statement.
The government asserts the India-US trade arrangement reduces tariffs for Indian exports to 18 per cent and enhances export competitiveness while stating that core sensitivities in food and agriculture have been fully safeguarded. Negotiations over the prior year are said to have protected sensitive domestic sectors even as the pact provides comparative advantage to labour intensive exporters. Opposition parties describe the announcement as a "non statement," faulting lack of disclosed details, potential concessions on agricultural imports, and conflicting public messages from US officials.
February 4, 2026
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Acid-attack case: acquittal attributed to evidentiary contradictions, delayed FIR, missing acid traces and inconsistent testimonies.
Prosecution failed to prove beyond reasonable doubt that the accused committed wrongful restraint, voluntarily caused hurt, or threw acid: the court highlighted an unexplained two week delay in filing the FIR, material contradictions in complainant and witness testimony about presence and conduct at the scene, lack of medicolegal evidence of burn injuries, failure to seize allegedly acid damaged clothing, and no forensic traces of acid at the crime scene, concluding these evidentiary gaps defeated proof of the charged offences.
February 4, 2026
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India's growth 8-10% yearly prompts a push to move household savings into capital markets and mutual funds.
India's GDP is forecast to grow 8-10% annually, prompting calls to shift household savings from bank deposits into capital markets. A large asset management joint venture plans to drive retail mutual fund adoption via technology based distribution, investor onboarding, and financial inclusion, projecting significant mutual fund asset growth and urging incumbents to adapt to a changing financial tech landscape.
February 4, 2026
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Bharat Taxi cooperative ride-hailing app uses a zero-commission model with direct profit distribution and driver social security.
A cooperative ride-hailing platform registered under the Multi-State Cooperative Societies Act, 2002 operates on a zero-commission, surge-free model with direct profit distribution to driver-members, non-exclusivity for drivers, mandated social-security benefits (health and accident insurance, retirement savings, emergency assistance) and support centres, and plans nationwide expansion and integration with national digital public infrastructure through stakeholder MoUs.
February 4, 2026
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Congress MLA released on interim bail amid money laundering and anti corruption probes into an alleged liquor scam.
A political officeholder obtained interim bail after being held in judicial custody following arrest in a PMLA money laundering probe; a separate anti corruption inquiry into an alleged liquor scheme produced additional detention. Allegations span money laundering and corruption, claim large proceeds of crime and substantial loss to the state exchequer, and involve parallel investigative tracks by different agencies.
February 4, 2026
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India-US trade deal will hurt Indian farmers and weaken agriculture due to tariff disparities and lack of parliamentary notice.
The India-US trade arrangement is alleged to create a tariff disparity disadvantaging Indian farmers-US imports at zero duty while Indian exports face 18%-and its public announcement by the US President rather than the government is characterised as an affront to parliamentary oversight. The critique links this trade impact to broader governance concerns: erosion of social justice and democratic accountability, labour law reforms favouring corporate interests, reduced support for disadvantaged groups, and failures in addressing communal violence and inequality.
February 4, 2026
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Individual taxpayers: 88% have opted for the new tax regime; government not planning a sunset clause.
About 88% of individual filers (ITR 1-4) and 97% of presumptive taxpayers have moved to the new tax regime; roughly 60% of corporate income is reported under it. The government is not considering a sunset clause for the old regime. FY27 Budget measures-MAT made final with a reduced old-regime rate and higher STT on futures and options-are expected to further encourage migration and to dissuade aggressive retail trading.
February 4, 2026
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Electoral roll revision challenged over mass logical-discrepancy notices; petition seeks Aadhaar acceptance to prevent wrongful voter deletions.
The chief minister challenged the Special Intensive Revision of electoral rolls, alleging mass notices and wrongful deletions based on logical discrepancies, and sought a direction requiring the poll panel to accept Aadhaar as proof of identity for resolving such discrepancies to ensure inclusion rather than deletion of voters; the court directed sensitive treatment of minor mismatches, asked the poll panel to upload reasons for discrepancy listings, and issued notices for replies.
February 4, 2026
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Air India inspections of Boeing 787 fuel control switches found no issues; regulator requires strict crew procedure compliance.
Air India completed precautionary re-inspections of the Fuel Control Switch across all operational Boeing 787 aircraft and found no issues. The inspections followed a pilot report of a switch defect and independent regulator checks that cleared the FCS. The regulator noted that correct procedure had not been followed in operating the switch and directed Air India to ensure crew compliance; the airline will circulate OEM-recommended operating procedures to all crew and has grounded the affected aircraft for checks.
February 4, 2026
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India-France judicial cooperation strengthened through bilateral meetings on training, technology, arbitration and dispute resolution.
Chief Justice Surya Kant led a delegation in Paris to strengthen judicial cooperation through bilateral meetings with French judicial leaders, focusing on judicial training, court technology, comparative court structures, and approaches to adjudication; the delegation resolved to deepen engagement and promote Alternative Dispute Resolution, arbitration and mediation under the aegis of enhanced Indo French legal exchanges.
February 4, 2026
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Halwara airport to begin operations in March; Air India to launch Delhi-Halwara service, boosting regional air connectivity.
Halwara airport's civil terminal has been inaugurated and is scheduled for operational commencement in early March with Air India to operate the initial Delhi-Halwara service. The terminal was developed on an Indian Air Force base through a Rs 54.67-crore joint venture between the Punjab government and the Airports Authority of India, representing a government-led infrastructure investment to expand regional air connectivity and support local economic sectors.
February 4, 2026
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INDI Alliance cracks as Congress appears indecisive about coalition plans; concerns raised over governance and security.
Claims of weakening Alliance Stability in the INDI Alliance focus on Congress uncertainty about contesting elections with the DMK or independently, raising questions about coalition coherence. Concurrently, the DMK is criticized for alleged governance failures-including drug-related crimes, attacks on marginalized groups, and unsafe university campuses-issues the opposition is urged to probe. The entry of a prominent actor into politics is identified as intensifying electoral competition and unsettling the ruling coalition, while the BJP-led alliance is portrayed as cohesive.
February 4, 2026
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IndiGo faces probe for alleged abuse of dominant position after mass flight cancellations creating artificial scarcity.
IndiGo faces a probe for possible abuse of dominant position after mass flight cancellations that allegedly withheld services and created artificial scarcity, limiting consumer access and producing a prima facie appreciable adverse effect on competition; a detailed investigation by the Director General has been ordered to examine whether these operational decisions amount to unfair business practices and breach competition norms.

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Indo-US trade pact may harm farmers, full details must be disclosed: Congress

February 4, 2026

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Indore, Feb 4 (PTI) Congress on Wednesday demanded that the Union government make full details of the Indo-US trade agreement public, claiming that it could hit the Indian farmers hard.

Recent announcements by US President Donald Trump and his administration suggested that India would buy more "Make in America" products under the pact, said party spokesperson Supriya Shrinate here.

"It is extremely unfortunate that our elected government is not giving even a single clear piece of information about this agreement," she said, adding that the Narendra Modi-led government should disclose the complete details.

Following the trade agreement, US agricultural and dairy products could enter India in large quantities, harming Indian farmers and industries, Shrinate claimed.

Notably, Union commerce minister Piyush Goyal has stated in the Lok Sabha that the pact ensures protection for domestic agriculture and dairy sectors.

Shrinate, meanwhile, also targeted the Centre over the developments in Parliament, alleging that Leader of Opposition in the Lok Sabha Rahul Gandhi was not being allowed to speak in the House on issues of national security.

"He is being shamelessly stopped, while other members are being given the opportunity to speak," she said.

On preparations for the formation of a new government in Manipur after the lifting of President's rule following a year marked by ethnic violence, the Congress leader claimed that nothing had changed in the northeastern state.

The government would have to understand the sentiments of the people of Manipur to win their trust, Shrinate said.

Replying to a question, she said the Congress-led INDIA grouping was fully united to oust the Bharatiya Janata Party from power in the Uttar Pradesh assembly elections next year, and the top leadership would decide on seat-sharing among alliance partners. PTI HWP LAL KRK

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