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    US applications for jobless benefits jump by 22,000 to 231,000 last week, most in 2 months
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February 5, 2026
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Unemployment claims rose to 231,000, signaling modestly higher separations amid a broader hiring slowdown and fewer job openings.
Initial unemployment-claim applications rose by 22,000 to 231,000 for the week ending January 31, above forecasts, with the four-week moving average up to 212,250 and continuing claims at 1.84 million. These high-frequency claim measures indicate modestly higher separations amid an overall hiring slowdown: just 50,000 jobs added in December and 584,000 jobs for 2025. Declining job openings and high-profile corporate layoffs, coupled with recent Fed rate trims and a subsequent hold, are identified as contributing factors to softer hiring momentum.
February 5, 2026
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Civil Services Examination requires mandatory face authentication and restricts eligibility of candidates already appointed to IAS, IFS, or IPS.
UPSC requires mandatory face authentication at examination venues, advises Aadhaar use for identity verification, mandates upload of photograph, live photograph capture and three signatures in the CAF, and bars withdrawal or post submission corrections. The notification enforces eligibility restrictions: serving IAS and IFS officers are ineligible for CSE 2026; appointments to IAS/IFS after prelims preclude mains participation and appointments after mains commencement but before results exclude candidates from CSE 2026 consideration. Time to make representations on prelim papers is reduced to five days.
February 5, 2026
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West Bengal interim budget expands cash transfers and targeted allowances to consolidate voter blocs ahead of assembly elections.
The interim vote-on-account repackages targeted welfare as electoral commitments by immediately raising Lakshmir Bhandar allowances, proposing the conditional Banglar Yuva Sathi unemployment stipend with an Rs 5,000 crore allocation, increasing stipends and compensations for frontline workers, granting a four per cent dearness allowance hike for government employees and pairing these measures with MSME parks, a Rs 2,000 crore rural job allocation and a river-erosion master plan for electorally sensitive districts.
February 5, 2026
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West Bengal interim budget projects 14% higher spending to Rs 3.96 lakh crore and narrows the revenue deficit.
The interim budget projects total expenditure of Rs 3.96 lakh crore for 2026-27 with a vote-on-account for the first four months, a marginal overall deficit of Rs 4 crore (Rs 62.70 crore including opening balance), and a narrowed revenue deficit of Rs 21,759.34 crore. Major allocations include Rs 1.80 lakh crore for social welfare and Rs 86,533.10 crore for capital expenditure (over half for loan repayments); own-tax revenues, central grants-in-aid, and market borrowings are separately forecast.
February 5, 2026
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India US trade deal nearing completion reportedly cuts US tariffs on Indian exports to 18 percent and advances critical minerals cooperation.
A bilateral India US trade agreement is in advanced finalisation and reportedly includes a tariff reduction to 18 percent and removal of a 25 percent additional levy tied to energy purchases; the deal is expected to boost Indian exports and labour intensive industries. Concurrently, cooperation on critical minerals is advancing and further engagement on defence and energy is anticipated, while India emphasises energy security and historical commercial ties with Venezuela when assessing supply options.
February 5, 2026
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Soda ash plant expansion gets environmental clearance, doubling capacity, adding sodium bicarbonate production and jobs.
SOKA has obtained environmental clearance to double soda ash capacity from 500,000 to 1,000,000 MTPY in phased steps (first to 750,000 MTPY), will add sodium bicarbonate production, uses a captive co generation power facility, and anticipates ~2,000 new jobs while strengthening domestic supply for detergents, glass (including solar glass), textiles, chemicals, and export markets.
February 5, 2026
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Leasing residential flats does not automatically bar consumer-protection claims; focus is on the purchaser's dominant commercial purpose.
A purchaser's exclusion from "consumer" status due to leasing depends on whether the dominant purpose of purchase was profit-generating commercial activity; the onus of proving such a commercial purpose and a close nexus to profit lies on the party asserting the exclusion, and mere leasing does not ipso facto demonstrate that dominant commercial intention.
February 5, 2026
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Bharat Taxi launch: cooperative, driver-owned ride-hailing with zero-commission fares and direct profit sharing.
A driver-owned ride-hailing platform registered as a multistate cooperative implements a zero-commission, surge-free fare model that keeps Rs 20 per Rs 100 as the platform share (owned by drivers) and channels Rs 80 directly to drivers, pairs collective ownership with mandated social-security measures, and will expand from initial pilot regions to nationwide operation within three years.
February 5, 2026
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Housing completion, modification of sports board ban, and dearness allowance directed for past service period.
Orders addressed completion of 16 stalled housing projects by a state contractor for an insolvent developer; modification permitting a sports administrator's board association; direction to pay dearness allowance for 2008-2019 as a legally-enforceable right; adjournment of an NSA detention challenge; upholding of a legislative election. The court authorised the civil service commission to flag delays in senior police appointment proposals, called for fresh hearing of retrospective environmental clearance challenges, and listed petitions on election challenges and deregistration for parties promising pre-poll freebies.
February 5, 2026
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European Central Bank holds deposit rate at 2% as growth stays resilient and inflation sits below target.
The European Central Bank kept its deposit rate at 2 percent as lower rates, low unemployment and easing energy costs supported resilient eurozone growth, while inflation fell to 1.7 percent. A US EU tariff deal reducing trade uncertainty and anticipated higher public spending in Germany, plus France's budget resolution via special powers, contribute to forecasts that rates may remain unchanged into 2027 absent stronger growth.
February 5, 2026
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Silver and gold plunged amid a global selloff as a stronger dollar and Chinese futures liquidations intensified the rout.
Silver and gold fell sharply as a stronger US dollar, hawkish Fed remarks and reduced safe haven demand triggered a global selloff; international pressures, notably a steep decline in Shanghai silver futures and forced liquidations at a major Chinese silver futures fund, intensified the rout and transmitted additional downward pressure to domestic precious metal prices.
February 5, 2026
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Manipur finances: state resources and tax collection rose, excise revenues and security funding increased, boosting resettlement and anti-narcotics efforts.
State resources rose from Rs 1,443 crore to Rs 2,087 crore between 2023-24 and 2024-25, with own tax collections improving markedly (Rs 1,254 crore by October 2025 versus Rs 608 crore in October 2024). Phased lifting of prohibition is expected to boost excise duty. The administration pursues a zero tolerance policy on narcotics-destroying illicit poppy cultivation and seizing drugs-and has secured Rs 196.61 crore for security and smart policing plus over Rs 54 crore for police infrastructure, while targeting resettlement of more than 10,000 IDP households.
February 5, 2026
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India-EU and India-US FTAs expected to boost manufacturing, exports, investment and job creation in key sectors.
NDA leaders in Kerala endorsed the economic effects of India's Free Trade Agreements with the US and EU, arguing the accords will expand market access, boost manufacturing and exports in electronics, semiconductors, apparel and footwear, attract investment, spur startups and job creation, and position India as a competitive supplier. They criticised the state government's development record and opposition resistance. An industry representative denied any improper link to an enforcement notice, characterised inspections as routine, and said alleged violations must be proven in court.
February 5, 2026
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Rajasthan's stone industry: investor-friendly policies, single-window clearances and infrastructure to boost value addition and exports.
The state announced an investor-friendly, policy-stable initiative for the stone industry centred on a single-window clearance, simplified procedures, stronger industrial infrastructure and improved logistics to facilitate business setup, value addition and access to global markets.
February 5, 2026
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SaltDiscovery Media Group launches Brand Communion to cover branding, marketing, and consumer behaviour with multilingual plans.
SaltDiscovery Media Group celebrated five years and launched Brand Communion, an English-language flagship focused on brands, marketing, public relations, consumer behaviour, and corporate storytelling for India and the Eurasian market, with plans for multilingual expansion; the group emphasised responsible journalism, intent to bolster research and analytics, expand its global contributor network in 2026, and to broaden its publishing portfolio including the forthcoming Business Journal Live.
February 5, 2026
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KaarTech named among India's Top 50 Best Workplaces in IT & IT BPM for commitment to trust and people first culture.
KaarTech was named one of India's Top 50 Best Workplaces in IT & IT BPM for 2025 by Great Place to Work India, attributed to a people first culture emphasising trust, inclusion, innovation, and strong employee experience, with the company's global operations, SAP S/4HANA engagements, proprietary IP (KTern.AI), and industry awards presented as contextual support for its workplace practices.
February 5, 2026
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Urban India protein deficiency survey finds 60% not consuming protein daily; affordability and awareness are key barriers.
A nationwide urban survey of over 207,000 respondents finds roughly 60% of urban Indians do not consume protein-rich foods daily and that major knowledge gaps exist about recommended protein intake and symptoms of deficiency. Affordability, not availability, is the principal barrier, with taste and dietary restrictions also limiting consumption. The release reports industry responses including a high-protein milk product and a partnered awareness campaign aimed at improving protein access and literacy.
February 5, 2026
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Bank of England keeps interest rate at 3.75%, forecasts inflation toward 2% and signals possible further cuts.
The Bank of England maintained its policy rate at 3.75 per cent with the Monetary Policy Committee narrowly split (five to hold, four to cut). Accompanying forecasts project inflation falling toward the 2 per cent target from 3.4 per cent, and the Bank signalled scope for further reductions in the Bank Rate later in the year provided inflation declines as projected.
February 5, 2026
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India Art Fair 2026 spotlights BMW's decade-long cultural partnership and Afrah Shafiq's immersive commissioned installation.
BMW Group India returns as presenting partner of India Art Fair 2026, operationalising its decade-long cultural sponsorship through the "The Future is Born of Art" Commission; the 2026 Commission, themed "Crafting in Continuum," is awarded to Afrah Shafiq for an immersive fac ade installation that combines textile traditions with an interactive Augmented Reality experience, while BMW also presents the limited-run Concept Speedtop in a collectors' showcase.
February 5, 2026
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Cloud decision intelligence platform Cloudeva.ai opens public preview for multi-cloud governance and accountable change management.
Cloudeva.ai provides a decision layer over existing infrastructure, finance, and security tooling that interprets cloud changes through business, financial, and regulatory context to produce auditable, explainable decisions about who changed what and why. The public preview enables real-environment testing, governance workflow design for regulated operations, and direct collaboration with the founding team to address multi-cloud governance, accountability, auditability, and operational risk.

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Abolish UT-with-Assembly system, would be gift to nation: J-K CM Omar to PM

February 5, 2026

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Jammu, Feb 5 (PTI) Chief Minister Omar Abdullah on Thursday appealed to Prime Minister Narendra Modi to abolish the Union Territory-with-Assembly system, while expressing hope that long-pending Transaction of Business Rules would be approved in the coming days to end “governance confusion” in Jammu and Kashmir.

Replying to a debate on the motion of thanks to the lieutenant governor’s address in the assembly, Abdullah said the sooner the UT-with-Assembly system is removed from the Constitution, the more beneficial it would be for the country.

“It is true that working in a Union Territory is extremely difficult. I hold my ears and ask who came up with this model of a UT with an Assembly. I say this openly— if our Prime Minister wants to give a gift to this country, it should be to abolish this system.

"If you want to keep a UT, then do not keep an Assembly; and if an area is fit to have an Assembly, then make it a state,” the chief minister said during his over an hour-long speech.

Referring to the speech of a legislator who recently claimed that the chief minister had himself admitted that officers do not listen to him, Abdullah said “though there is no truth in the statement but it is extremely difficult to run the government with your hands tied behind the back through this UT-with-Assembly model, which is a huge betrayal of the people’s mandate”.

“How difficult it is to work under these conditions...while preparing a budget, would you change your finance secretary 10 days before presenting it?” Abdullah asked Speaker Abdul Rahim Rather, who had been finance minister several times in the past.

“We were preparing the budget, and on social media I read that the finance secretary of Jammu and Kashmir— because now we are part of the UT cadre and transfers are not in our control— has been transferred to Delhi with immediate effect. This is the situation. Tell me, is there anywhere else in the country where, while a budget is being prepared, the finance secretary is suddenly told goodbye,” Abdullah said.

Thankfully, he said, after speaking with the chief secretary, it was ensured that the finance secretary is retained till February 9.

“Otherwise, he would have left, and I do not know under what circumstances the budget would have been prepared. This is the situation.

“The most important post in administration is considered to be the Resident Commissioner in Delhi, because his job is to coordinate with the central government, follow up on projects, and secure approvals. But our Resident Commissioner’s post has been given as an additional charge to the Divisional Commissioner, Jammu. Now tell me, how will the Divisional Commissioner of Jammu also handle the work of the Resident Commissioner in Delhi?” he said.

Abdullah, however, expected hope that the long pending Business Rules would be approved in the coming days.

“Until our Business Rules are approved—and work on this is ongoing—it will take time because it is a complex issue...I am fully confident that in the coming days our Business Rules will be fixed. Until we receive full statehood, this confusion over Business Rules continues to trap many of our issues,” he said.

The Jammu and Kashmir government framed the Transaction of Business Rules in March last year and sent the file to the LG for approval to facilitate smooth governance without confusion. PTI TAS TAS KVK KVK

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