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    Macron faces backlash after interrupting Africa summit panel in Kenya
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May 13, 2026
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Pan-Africanist rhetoric draws backlash as Macron's Africa summit intervention reignites debate over France's colonial legacy.
French President Emmanuel Macron faced criticism after interrupting a panel session at the Africa Forward Summit in Kenya and demanding silence from the audience. The backlash also followed his claim to be a "Pan-Africanist," amid debate over France's shift from a colonial legacy toward a partnership of equals with African countries.
May 13, 2026
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Rooftop solar demand surges as fuel costs spike, with Asian consumers turning to cleaner and cheaper power options.
Rising fuel and electricity costs triggered by the Iran war are accelerating demand for rooftop solar power across energy-hungry Asia, with the Philippines reporting a sharp increase in installations and customer inquiries as households, businesses, and public institutions seek alternatives to expensive and uncertain fossil-fuel supply. The article describes a broader regional shift toward rooftop solar, including policy interest in Indonesia, Vietnam, and Thailand, alongside similar demand growth in the United States and Europe as consumers look for a practical way to reduce electricity bills and improve energy resilience.
May 13, 2026
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Import duty on precious metals raised to curb discretionary imports and ease pressure on foreign exchange reserves.
Import duty on gold, silver and platinum was increased to 15 per cent, with related items also revised, as a calibrated price-based measure to moderate discretionary imports and reduce pressure on foreign exchange reserves. The stated rationale was to preserve market flexibility while easing external-sector stress, prioritising forex for essential imports and supporting balance-of-payments stability amid the West Asia crisis.
May 13, 2026
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Rural resilience and sustainable livelihoods take centre stage in the new India-IFAD strategy for long-term development.
The Government of India and IFAD launched an eight-year Country Strategic Opportunities Programme for 2026-2033 to advance rural incomes, strengthen resilience, and expand sustainable livelihood opportunities. Aligned with the Viksit Bharat@2047 vision, the programme focuses on social, economic, and climate resilience in rural communities and on strengthening knowledge systems to scale proven development models within India and across the Global South. The strategy emphasises Self-Help Groups, Farmer Producer Organisations, and cooperatives as platforms linking finance, technology, infrastructure, and markets.
May 13, 2026
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Maritime insurance pooling strengthens continuous cover, underwriting capacity, and sovereign backstop for shipping risks amid sanctions and tensions.
The Bharat Maritime Insurance Pool is a domestic marine insurance arrangement with combined underwriting capacity and a sovereign guarantee to support continuous cover for Indian flagged or controlled vessels, and vessels destined to or departing from India. It covers Hull and Machinery, Cargo, Protection and Indemnity, and War risk, especially where sanctions exposure, withdrawal of foreign reinsurance support, or geopolitical tensions may disrupt shipping operations and trade flows. A Governing Body and Underwriting Committee oversee the pool, while GIC Re acts as administrator. Claims up to USD 100 million are met from pool capacity, and larger claims may use the sovereign guarantee after exhaustion of reserves, member contributions, and reinsurance.
May 13, 2026
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Competition approval for CPPIB India's acquisition of shareholding in Ctrl S Datacenters advances a proposed investment combination.
Competition approval was granted for the acquisition by CPPIB India Private Holdings Inc., a Canadian investment holding company and wholly owned subsidiary of CPPIB, of certain shareholding in Ctrl S Datacenters Limited. The transaction concerns a proposed combination involving investment by CPPIB through CIPH in Ctrl S, which provides data centre and colocation services and related managed services in India.
May 13, 2026
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Merger and stake acquisition in Lloyds Engineering Works approved under competition law review.
Competition Commission of India approved a proposed combination involving acquisition of a 7.14% shareholding in Lloyds Engineering Works Limited by Thriveni Earthmovers Private Limited through a block deal, and merger by absorption of Lloyds Infrastructure & Construction Limited, Metalfab Hightech Private Limited and Techno Industries Private Limited into Lloyds Engineering Works Limited as the surviving entity. The parties are described by their respective businesses in contract mining, engineering, construction, manufacturing of heavy equipment, lightweight engineering structures, and manufacture of elevators, escalators, motors and pumps.
May 13, 2026
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Competition clearance for Kimberly-Clark's acquisition of Kenvue covers consumer health, hygiene and personal care businesses.
Competition Commission of India approved the acquisition of sole control over Kenvue Inc. by Kimberly-Clark Corporation pursuant to an agreement and plan of merger. The transaction concerns consumer products groups active in personal care, health, hygiene and related product lines, including fibre-based absorbency products, baby care, feminine hygiene, consumer health, oral care, skin care, sun protection, baby toiletries and baby wipes.
May 13, 2026
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Competition Commission approval of acquisition and control of GVK Energy by Adani Power under insolvency resolution.
Competition Commission of India approved the acquisition of 100% share capital and control of GVK Energy Limited by Adani Power Limited pursuant to the corporate insolvency resolution process under the Insolvency and Bankruptcy Code, 2016. The proposed combination relates to change in ownership and control of the Target in the context of insolvency resolution. Adani Power Limited is a listed thermal power producer, while GVK Energy Limited is engaged in hydroelectric power generation through its subsidiary AHPL and provides operation and maintenance services to AHPL.
May 13, 2026
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User Development Fee structure at Noida International Airport set for domestic and international passengers with gradual tariff increases ahead.
AERA fixed the User Development Fee for Noida International Airport for the 2026-27 period at Rs 490 for departing domestic passengers, Rs 980 for departing international passengers, Rs 210 for arriving domestic passengers and Rs 420 for arriving international passengers, and approved gradual increases over the first control period. It also allowed a Variable Tariff Plan for landing and parking charges to support early route development, with charges to rise progressively over the concession period. AERA said the tariff structure reflects the characteristics of a greenfield airport, including higher upfront investment, statutory compliance requirements and phased capacity expansion.
May 13, 2026
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Rupee recovery supported by higher gold and silver import tariffs aimed at easing foreign exchange pressure.
The rupee recovered in early trade after higher import tariffs on gold and silver were expected to curb overseas purchases and reduce pressure on foreign exchange reserves. The currency's gains were moderated by elevated crude oil prices and the strength of the US dollar, while market participants also linked the move to a possible narrowing of the current account deficit through lower precious-metal imports.
May 13, 2026
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Illegal constructions and municipal membership scrutiny follow notice, failed stay request and demolition at AIMIM corporator's properties.
Municipal action targeted alleged illegal constructions at the residence, office and shops of an AIMIM corporator after a notice called for a reply within 72 hours on the status of the properties. The corporator sought a stay, but no stay was granted, and the civic body proceeded with demolition under police protection while indicating that the property's fate could be decided if no satisfactory response was received. The matter was also linked to proposed action regarding the corporator's membership in the municipal body, subject to verification of property documents and alleged nondisclosure in the nomination process.
May 13, 2026
Show AI Summary
Import duty on gold and silver raised to curb non-essential imports and conserve foreign exchange amid balance of payments stress.
Import duty on gold and silver was increased to 15 per cent by raising the social welfare surcharge and agriculture infrastructure and development cess, effective 13 May 2026. The measure was intended to curb non-essential imports of precious metals and conserve foreign exchange amid a rising import bill and balance of payments stress. It reversed the earlier reduction in customs duty on gold to 6 per cent and was aimed at moderating inbound shipments driven largely by the jewellery industry.
May 12, 2026
Show AI Summary
User Development Fee fixed for Noida International Airport, with a Variable Tariff Plan allowed for early route expansion.
Airports tariff regulation for Noida International Airport fixed the User Development Fee for the 2026-27 period at Rs 490 for departing domestic passengers, Rs 980 for departing international passengers, Rs 210 for arriving domestic passengers and Rs 420 for arriving international passengers. A Variable Tariff Plan was also permitted, mainly for landing and parking charges, to encourage airlines to open new routes, increase flights and expand their network in the early operational years.
May 12, 2026
Show AI Summary
Stamp duty exemption claim rejected, with recovery of deficit duty and penalty sustained on a high-value land sale deed.
Stamp duty exemption claims for a high-value land sale deed in Mundhwa were rejected, and the recovery of deficit duty and penalty was sustained after appellate review by the Maharashtra State Chief Controlling Revenue Authority. After issuance of show-cause notices and consideration of the company's written reply, the Collector of Stamps assessed duty liability at about Rs 21 crore, including duty under the Maharashtra Stamp Act and additional municipal levies. The authority held that the exemption claim was untenable and affirmed the earlier order directing payment of the stamp duty and penalty.
May 12, 2026
Show AI Summary
Transparent income tax compliance gets a tech-driven push with simpler language, digital assistance and automated refund processing.
Income tax administration is being repositioned around a simplified, transparent and technology-driven compliance framework under the Income Tax Act, 2025, with emphasis on reducing litigation, improving voluntary compliance and aligning taxpayers and tax authorities through clearer language. The department is promoting digital assistance and taxpayer outreach through initiatives such as an AI-powered chatbot, educational FAQs and brochures, and printed guidance on exemptions and TDS in regional language.
May 12, 2026
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Rupee weakness amid global risk aversion, crude price surge and expectations of possible RBI support
The rupee fell to a fresh record low against the US dollar amid global risk aversion, stronger dollar trends and a sharp rise in Brent crude prices. Traders linked the weakness to concerns over India's trade deficit and balance-of-payments pressures if oil prices remain elevated, while noting that any RBI intervention could support the currency at lower levels. The report also notes foreign institutional selling and weakness in domestic equity markets.
May 12, 2026
Show AI Summary
Export growth, self-reliance and quality manufacturing drive India's push toward higher competitiveness and global market expansion.
India's economic resilience, export performance and external-sector strength were highlighted alongside the need for greater efficiency, productivity, self-reliance and import reduction. Free trade agreements with developed economies were presented as tools to expand exports and attract investment, while artificial intelligence, robotics and quantum computing were described as force multipliers for competitiveness. The text also urged a shift from assembled to designed, engineered and manufactured goods, with non-negotiable quality, deeper localisation, stronger R&D and alignment with global standards.
May 12, 2026
Show AI Summary
AI-first banking trust positioning emphasizes compliant by design transformation, core-system integration, and measurable operational outcomes.
Maveric Systems announced a new brand positioning, "Engineering Trust in AI-First Banking," for financial institutions shifting from digital-first to AI-first operating models. The positioning emphasizes embedding AI into core banking systems, applying fairness, explainability, reliability, privacy and regulatory compliance by design, and delivering measurable outcomes through a proprietary AI @ Scale framework, supported by platforms for quality intelligence, data integrity, customer intelligence and intelligent operations.
May 12, 2026
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Foreign-exchange conservation measures prompt ICAI to curb overseas travel and promote virtual meetings among members and officers.
ICAI proposed foreign-exchange saving measures for members, officers and families amid the West Asia conflict and higher oil prices. The institute said it would issue an advisory to curb foreign travel and encourage other ways of conserving foreign exchange, including using virtual meetings where possible. Foreign travel by office-bearers and officers would be restricted to cases of absolute necessity, and the measures would be implemented mandatorily within ICAI.

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Customs & Trade

Europe faces stray Ukrainian drones as Kyiv targets Russian oil exports

May 21, 2026

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Kyiv, May 21 (AP) Over the past months, Ukrainian drones have crashed into the chimney of a power plant in Estonia, hit empty fuel tanks in Latvia and been shot down by Romanian fighter jets stationed in Lithuania.

For the first time in a NATO and European Union capital, Lithuanians were pictured sheltering in underground car parks in Vilnius on Wednesday, as authorities warned of unidentified drone activity.

No one has died or been injured recently, but the increasing airspace incursions have prompted some Baltic ministers to chastise Ukraine for the violations. In Latvia, officials' handling of the stray drones led to a political crisis that triggered the collapse of the government earlier this month.

Ukraine has ramped up attacks on Baltic Sea ports used for Russian energy exports in an attempt to hit Moscow's war chest as US President Donald Trump's war in Iran has driven up the price of oil, a key revenue stream for the Kremlin.

As Ukraine's drones have snaked up north, they have skirted the borders of NATO members Latvia, Lithuania, Estonia and Finland. Some of them were not detected before they crashed and landed in some of the Baltic states.

Ukrainian officials apologised and said the drones were aimed at military targets inside Russia but were sent off course by Russian electronic interference.

The string of airspace violations has prompted questions about the state of air defences on NATO's eastern flank.

Ukraine is targeting Russian ports on the Baltic Sea ----------------------------------------------------------- Ukraine's intensifying attacks against Russia have focused on arms factories, ports on the Baltic Sea and energy facilities as the war in Iran has boosted oil prices.

It has particularly targeted the ports of Ust-Luga and Primorsk, close to the borders of Estonia and Finland. Russia uses the ports to load up ships taking its oil exports through the Baltic Sea.

During one attack in May, which set part of the port of Primorsk on fire, more than 60 Ukrainian drones were shot down, Leningrad region governor Alexander Drozdenko said.

After stray Ukrainian drones entered Latvian airspace on May 7, the country's Defence Minister Andris Spruds resigned, leading Prime Minister Evika Silina to also quit days later because she was left without a majority in the coalition government.

On May 19, a Romanian fighter jet based in Lithuania shot down a Ukrainian drone over southern Estonia. Estonian Defence Minister Hanno Pevkur said it was likely aimed at targets in Russia and that he told Ukraine to send its drones “as far from NATO territory as possible.” On Wednesday, NATO fighter jets escorted an unidentified drone which crossed into Lithuania, prompting a red alert urging citizens to take cover around the capital Vilnius, Lithuania's defence ministry said. Contact with the drone was lost, and the military was searching for it, the ministry said.

Russian electronic interference sends drones off course ---------------------------------------------------------------- Since Russia's 2022 invasion of Ukraine, Nordic and Baltic nations have increasingly warned about electronic interference from Russia disrupting communications with planes, ships and drones.

In the Baltic region, Russia often uses jamming and spoofing to send drones off course.

Satellite communications systems — known collectively as the Global Navigation Satellite System, or GNSS — receive precise time signals from satellites around 20,000 kilometres (12,400 miles) away in space. A smartphone, car, marine or aircraft navigation system compares how long it takes to receive signals from several different satellites to calculate an exact location.

Jamming occurs when a receiver is overwhelmed by a strong radio signal transmitted in the same frequency range as GNSS and other satellite navigation signals, leaving the receiver unable to fix its location or time. Spoofing involves transmitting fake signals that imitate a real GNSS satellite signal, commonly known as GPS, to mislead a phone, ship, or aircraft into thinking it is in a different place.

Lithuanian Foreign Minister Kestutis Budrys said Tuesday that Russia is “deliberately” redirecting Ukrainian drones into Baltic airspace with electronic interference.

Drones have been entering Baltic airspace for many months --------------------------------------------------------------------- In September 2025, about 20 Russian drones flew into Poland, putting the spotlight on holes in NATO's air defences, as multimillion-dollar jets were scrambled. Those drones were not detected in advance, Estonia's defence minister said at the time.

Neither was a Ukrainian military drone which crashed with explosives in Lithuania last week, Vilmantas Vitkauskas, chief of Lithuania's National Crisis Management Centre, said on Sunday.

While Poland and Romania responded to the drone incursions last year by deploying new anti-drone technology — the first used by the NATO alliance aimed specifically at countering drones — that system is not in place across the entire Baltic region.

Defending against drones requires solving a complex set of technological, financial and bureaucratic problems and "there is no one solution against every type of drone,” Colonel Janno Mark of the Estonian Defence Forces said.

Tackling various types of drones operating at different speeds and altitudes requires a layered air defence response, Mark said during military exercises in southeastern Estonia.

Budrys, the Lithuanian foreign minister, told AP in an interview Saturday that the Baltic countries are likely going to have to continue to counter incursions from Ukrainian drones as Kyiv now has the capability to reach targets “deep in Russia” as well as ports on the Baltic Sea. The way to counter those drones, he said, is actually with Ukraine's help, as the most effective anti-drone systems have been developed in the country.

Ukraine denies claims it is preparing attacks from the Baltics --------------------------------------------------------------------- Writing on X, Budrys accused Moscow of “waging smear campaigns” after Russia's Foreign Intelligence Service, the SVR, claimed on Tuesday that Ukraine is preparing to launch drone attacks against Russia from the territory of the Baltic countries.

The SVR claimed Ukrainian military personnel had already deployed to Latvia and warned that the country's NATO membership wouldn't protect it from “just retribution.” It did not provide evidence for its claims.

Ukraine's foreign ministry spokesman, Heorhii Tykhyi, said Tuesday that none of the Baltic states or Finland has ever allowed Ukraine to use their airspace for strikes against Russia.

Budrys called the SVR claim a “transparent act of desperation” and an attempt to sow chaos and distract from a “simple reality” — that Ukraine is hitting Russia's military machine hard.

NATO Secretary-General Mark Rutte praised the alliance's reaction to the drone incidents, saying that they had been met with “a calm, decisive and proportionate response.” “This is exactly what we planned and prepared for,” Rutte said, blaming Russia's war on Ukraine for the incursions. (AP) SKS SKS

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