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    PM Modi's huglomacy, photo-ops did not amount to much: Cong on India-US interim trade pact
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February 7, 2026
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India US interim trade pact requires India to stop Russian oil imports and reduce duties on US goods, risking trade shifts.
The interim India US framework commits India to cease direct or indirect imports of Russian oil under penalty of a reinstated 25% tariff if non compliance is found, and provides for reciprocal tariff reductions: India will eliminate or reduce duties on a broad set of US industrial and agricultural goods while US duties on certain Indian goods will fall to 18%, with prompt implementation intended and further negotiation toward a Bilateral Trade Agreement.
February 7, 2026
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US India interim trade framework establishes reciprocal tariff adjustments, rules of origin, and commitments to reduce non tariff barriers.
An interim trade framework establishes reciprocal tariff and market access commitments: India will reduce or eliminate tariffs on U.S. industrial and specified agricultural goods while the United States will apply an 18 percent reciprocal tariff on designated Indian-origin goods and, subject to the Interim Agreement, remove that reciprocal tariff for a range of goods. The parties will adopt rules of origin ensuring benefits accrue predominantly to them, address long-standing non-tariff barriers including medical devices and ICT licensing, discuss standards and conformity assessment procedures, and pursue broader BTA negotiations to expand market access, digital trade rules, and economic security alignment.
February 7, 2026
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Credit derivatives: draft enables derivatives on credit indices and total return swaps; public feedback invited by Feb 27.
The Reserve Bank has published a draft revised Master Direction consolidating provisions for credit derivatives, including credit default swaps, and proposing enabling provisions for derivatives on credit indices and total return swaps on corporate bonds; public comments are invited by February 27, 2026 by email or postal submission to the Chief General Manager, Financial Markets Regulation Department.
February 7, 2026
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RBI invites comments on draft amendment removing prior approval for NBFC branch openings in India.
The Reserve Bank published Amendment Directions, 2026, removing the requirement of prior approval or intimation for NBFCs (including Housing Finance Companies) to open branches in India and inviting comments on the draft until February 27, 2026 via the 'Connect 2 Regulate' portal or by submission to the Registration and Authorisation Group; relevant provisions of the Directions on Acceptance of Public Deposits and Housing Finance Companies will be amended consequentially.
February 7, 2026
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Karnataka Deputy Chief Minister D K Shivakumar says elevation timing uncertain and all must abide by party high command.
Deputy Chief Minister D K Shivakumar stated that the timing of any elevation to chief ministership depends on the Congress high command, that everyone must abide by the party's decision, and he would not predict a post budget change.
February 7, 2026
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Assembly proposal condemns MLA remarks on madrasa funding; remarks expunged and opposition staged brief walkout.
Speaker allowed a government member to move a resolution condemning an opposition MLA's remarks alleging madrasa funding supports "anti-social elements" in a minority community; the Speaker said such communal comments would not be permitted, the matter is under consideration, and the contested portions of the MLA's speech were expunged from House records, prompting a brief opposition walkout and competing claims about the propriety and motive for the action.
February 7, 2026
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Vinay Kumar Dubey honoured for legal excellence, NPA resolution work and extensive social-service initiatives supporting vulnerable communities.
Vinay Kumar Dubey, Chairman of VKDL NPA Advisory Council and member of the Hindi Advisory Committee, was honoured for professional contributions, expertise in NPA resolution balancing bank, industry and public interests, and longstanding legal assistance to economically weaker sections.
February 7, 2026
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International oil smuggling disrupted by mid sea transfers; vessels seized and to be handed to customs for investigation.
An international oil smuggling syndicate using coordinated mid sea transfers to evade duties was intercepted when three vessels were boarded about 100 nautical miles west of Mumbai. Digital surveillance and vessel movement pattern analysis within the Exclusive Economic Zone identified suspects; onboard electronic data, document checks, and crew interrogation corroborated the scheme. The vessels, suspected of frequent identity changes and foreign ownership, will be escorted to Mumbai and handed to Customs and law enforcement for further investigation and action.
February 7, 2026
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Satish Gupta's Gujarat debut exhibition spotlights Ahmedabad's emergence within India's growing contemporary art market.
Satish Gupta's Gujarat debut solo exhibition 'Haiku of a Still Mind' at Bespoke Art Gallery in Ahmedabad is presented as the state's first museum-quality solo show of his spiritually rooted work, curated by Devin Gawarwala, featuring paintings and metal sculptures priced between Rs. 5 lakh and Rs. 5 crore and positioned as a milestone within a national market projected to reach Rs. 5,000 crore by 2030 amid rising domestic collectors, HNW participation, and institutional buying.
February 7, 2026
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Voter deletions in India via roll-revision risk excluding marginalised citizens absent transparency and safeguards.
The article argues that the Election Commission's Special Intensive Revision can operate as a mechanism for widespread voter deletions-through classifications like deaths, migration or "logical discrepancy"-disproportionately affecting marginalised groups. It notes state-level resistance and court challenges reframing timing, implementation and bias as issues of transparency and accountability, and warns that without safeguards and scrutiny such exercises risk becoming tools for electoral exclusion.
February 7, 2026
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Oil smuggling operation intercepted mid-sea; three vessels detained and set for handover to customs and enforcement agencies.
Coast Guard forces interdicted three vessels after digital maritime surveillance detected an illicit ship-to-ship transfer about 100 nautical miles offshore; boardings, document verification, electronic data corroboration, and crew interviews established a syndicate modus operandi involving vessel identity changes to evade customs duties, and the vessels were detained for handover to customs and enforcement agencies for further legal processes.
February 7, 2026
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Temple entry: court says ceremonial guest entry by non-Hindus isn't a statutory violation and rules must align with the Act.
Permissive ceremonial entry by non Hindus as guests is distinct from a right of entry and cannot be treated as a violation of the parent Act; Rule 3(a)'s prohibition on non Hindu entry appears inconsistent with the Act's object, and subordinate rules that conflict with the Act should be reconsidered, amended or modified to align with legislative intent, constitutional values and social harmony after consultation with relevant stakeholders.
February 7, 2026
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HCLTech named to Fortune's World's Most Admired Companies 2026 list for IT services and innovation.
HCLTech was named to Fortune's 2026 World's Most Admired Companies list in IT services based on a survey of over 3,000 executives, board members and analysts evaluating nine parameters such as quality of management, innovation, global competitiveness, talent attraction and social responsibility; the release highlights HCLTech's AI focus, global scale and consolidated revenues.
February 7, 2026
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Sonata Software reports consolidated PAT growth, a one time labour code expense and a quarterly interim dividend declared.
Consolidated PAT before exceptional item rose 6.1% QoQ to INR 127.5 crore and 21.4% YoY, with consolidated revenue growth led by Domestic Products & Services and steady International IT Services. An exceptional one time employee benefit expense of INR 31.3 crore was recognised under the new Labour Codes, reducing PAT post exceptional item to INR 104.4 crore. The company declared a quarterly interim dividend of INR 1.25 per share and reported key operating metrics including EBITDA, DSO, ROCE, RONW, cash balances and segmental performance.
February 7, 2026
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CHANDO 4-Butylresorcinol (577) research shows targeted microRNA inhibition reduces melanin and brightens Asian skin with high tolerability.
CHANDO identified that a specific microRNA drives UV-induced pigmentation by regulating MITF, TYR, and TYRP1, and reported that 4-Butylresorcinol (577) inhibits this microRNA's abnormal expression to reduce melanin overproduction; laboratory and clinical testing showed reductions in dark spots and sallowness with high tolerability, and 577 has been incorporated into CHANDO's Cellcrystal Whitening Radiance Series.
February 7, 2026
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Angel Yeast Indonesia project trains local workers and pairs a 20,000 ton yeast plant with wastewater treatment and fertilizer reuse.
Angel Yeast's Indonesia project deploys a six month training program to prepare 29 local employees to commission and operate a Lampung facility comprising a 20,000 ton annual yeast line, a 3,500 ton/day wastewater treatment unit, and a 20,000 ton organic fertilizer plant. The plan emphasises local molasses sourcing, by product repurposing into animal feed, conversion of treated wastewater to fertilizer, technology transfer, workforce development, and a circular economy approach to reduce waste and support regional value chains, with commissioning targeted for 2027.
February 7, 2026
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Dubstep's Love on Loop campaign awards purchasers on Instamart prizes based on maximum Dubstep spend during the campaign.
A promotional campaign, Love on Loop, makes Swiggy users who purchase eligible Dubstep products on Instamart eligible to win prizes based on maximum spends during the campaign: nine INR 3,000 dinner vouchers and one grand prize of air tickets for two to Goa plus a potential meet-and-greet, all subject to availability and terms. The promotion is exclusive to Instamart and tied to the launch and marketing of the limited edition Dubstep Buzz X12 Wireless Earbuds - Love Edition, with product features and quick-commerce delivery highlighted to facilitate participation.
February 7, 2026
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Female genital mutilation: Merck Foundation and African First Ladies promote education, media outreach, awards and scholarships to end FGM.
Merck Foundation and African First Ladies marked the International Day of Zero Tolerance for FGM through a dedicated episode of their pan African TV program, the More Than a Mother Awards to recognise media raising awareness, and the Educating Linda scholarship program funding secondary education for high performing, underprivileged girls across numerous African countries, using media, storybooks, animation, songs, and school material distribution to promote education as the core strategy to end FGM and related harms.
February 7, 2026
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Embassy REIT reports 17% revenue growth and declares distributions while evaluating acquisition of a Bengaluru office asset.
Embassy REIT delivered 17% YoY revenue growth and 19% NOI growth in Q3 FY2026, declared distributions of Rs. 613 crores (Rs. 6.47/unit), reported 4.6 msf year to date leasing with c.94% portfolio occupancy, and received an invitation to offer to acquire the 0.4 msf Embassy Zenith in Bengaluru while continuing redevelopment and acquisition activity within its development pipeline.
February 7, 2026
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Shikshagraha announces 2026 awards honoring grassroots education leaders with grants, mentorship and partnerships to reach millions.
Shikshagraha announced the 2026 Shikshagraha Awards granting multi-year monetary support, mentorship, national visibility and policy engagement to three grassroots education leaders to help scale practitioner-led improvements. Concurrently, Shikshagraha and the Childaid Network Foundation formed a strategic partnership to combine regional implementation experience and national convening power with an explicit goal of mobilising partners and government relationships to reach two million children.

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Milan Cortina Olympics officially open with multi-site ceremony for spread-out Winter Games

February 7, 2026

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Milan, Feb 7 (AP) Featuring tributes to da Vinci and Dante, Puccini and Pausini, Armani and Fellini, pasta and vino, and other iconic tastes of Italian culture -- plus Mariah Carey hitting all the high notes in "Nel Blu Dipinto Di Blu" aka "Volare" -- an unprecedented four-site, dual-cauldron opening ceremony got the Milan Cortina Olympics officially started on Friday.

Allowing athletes to participate in the Parade of Nations at the mountain locales for the most spread-out Winter Games in history created what perhaps was an unintended consequence: Zero competitors from any of the first five countries announced actually showed up at the main hub, Milan's San Siro soccer stadium.

While signs bearing the names of Greece -- which always leads the procession as the birthplace of the Olympics -- Albania, Andorra, Saudi Arabia and Argentina were carried into the home of Serie A soccer titans AC Milan and Inter Milan, there were no athletes from those places around. Instead, they were participating at simultaneous festivities held at Cortina d'Ampezzo in the heart of the Dolomites, Livigno in the Alps, and Predazzo in the autonomous province of Trento.

The first country with athletes at San Siro was Armenia -- and their entrance drew raucous cheers from a crowd filled with 61,000 ticket-holders plus others.

Later, a smattering of boos met Israel's four representatives at the Milan ceremony. There have been some calls for Israel to be banned from the Olympics over the war in Gaza, which began with Hamas' deadly attack in October 2023.

And while athletes from the US were cheered when they appeared, Vice President J D Vance was jeered when he was shown briefly on the arena's video boards from his spot in the tribune. Support for the United States among its allies has been eroding as the Trump administration has taken an aggressive posture on foreign policy, including punishing tariffs, military action in Venezuela and threats to invade Greenland.

The contingent from Venezuela got a big backing when entering. So did that from Ukraine, where a war continues four years after Russia invaded.

The ceremony's organisers have said they sought to convey themes of harmony and peace, seeking to represent the city-mountain dichotomy of the particularly unusual setup for these Olympics while also trying to appeal to a sense of unity at a time of global tensions. South African actor Charlize Theron and Italian rapper Ghali delivered messages of peace toward the end of the night.

"I hope the opening ceremony is seen by everyone as an opportunity to be respectful," new International Olympic Committee President Kirsty Coventry said when asked this week about possible crowd reactions.

The loudest greeting was reserved, naturally, for host Italy, which walked in last, to an electronic version of "The Barber of Seville." The ceremony was already nearly three hours old -- and not yet done -- by the time Italian President Sergio Mattarella officially declared the Milan Cortina Games open following a speech by Coventry, the first woman to lead the IOC.

"Thank you for believing in the magic of the Olympic Games," she said, then several minutes later made sure to make mention of the "media rights holders" who pay to broadcast the event.

Soon, tenor Andrea Bocelli's voice was belting out Puccini's "Nessun Dorma" and its closing refrain of "Vincerò," Italian for "I will win!" As he concluded, torch bearers headed out of the arena to light a cauldron at the Arch of Peace, 4 kilometres from San Siro.

One symbol of how far-flung things are at these Olympics: Instead of the usual one cauldron that is lit and burns throughout the Games, there were going to be two, both intended as an homage to Leonardo da Vinci's geometric studies. The other is 400 kilometres away in Cortina.

The people given the honour of lighting both was a closely guarded secret, as is usually the case at any Olympics. At the 2006 Turin Games, it was Italian cross-country skier Stefania Belmondo.

The full collection of competition venues for the next two-plus weeks dot an area of more than 22,000 square kilometres, roughly the size of the entire state of New Jersey. The multi-city ceremony format on Friday allowed up-in-the-mountains sports such as Alpine skiing, bobsled, curling and snowboarding to be represented without requiring folks to make the several-hours-long trek to Milan.

It did not exactly feel like a Winter Games in the country's financial capital, where the temperature was a tad below 10 degrees Celsius, and the sky was a crisp, clear azure all afternoon Friday. Not a trace of clouds, let alone snow.

As Italy welcomed the world by displaying symbols of its heritage, the show produced by Olympic ceremony veteran Marco Balich began with dancers from the academy of the famed Milan opera house Teatro alla Scala reimagining 18th-century sculptor Antonio Canova's marble works.

People wearing oversized, mascot-style heads representing opera composers Giacomo Puccini, Gioachino Rossini and Giuseppe Verdi appeared on the central stage, before giant paint tubes floated above and dropped silk of red, blue and yellow -- the primary colours -- before an early parade of various-colour-wearing characters arrived in the stadium. They represented music and art, literature and architecture, appreciations for beauty and history and, above all, "La Dolce Vita" (loosely, Italian for "The Good Life" and the name of a 1960 film by Federico Fellini).

There were references to ancient Rome, the Renaissance, the Venice Carnival and the country's noted traditions in various areas such as cuisine and literature, such as "Pinocchio" and Dante's "Inferno." A runway walk showcased outfits -- created by the late fashion designer Giorgio Armani, who died last year at 91 -- in the colours of Italy's flag: red, green and white. And balladeer Laura Pausini sang Italy's national anthem.

Carey got loud cheers in Milan as she sang in Italian. In Cortina, hundreds of fans sang along with her, and a roar emerged when they realised she was performing the song with the "Volare" refrain.

Another local touch: Italian actress Sabrina Impacciatore, of "White Lotus" fame, led a segment that took viewers through a century of past Olympics, with examples of evolving equipment, sportswear and music. And actress and comedian Brenda Lodigiani demonstrated the popular Italian hand gestures often used to communicate in place of words. (AP) RUK RUK

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