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May 19, 2026
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EV charging and critical power growth drive Exicom's strongest FY26 quarter with EBITDA breakeven and expanding capacity.
Exicom Tele-Systems reported its strongest quarter of FY26, with standalone revenue and EBITDA margin improving sharply and consolidated EBITDA turning breakeven for the first time since the Tritium acquisition. The company linked the improvement to stronger domestic EV charging demand, rising exports and Tritium's commercial scale-up, while noting that the full-year consolidated loss reflected a longer period of Tritium operations in FY26. It also highlighted growth in the critical power business and the inauguration of an integrated Hyderabad manufacturing facility.
May 19, 2026
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Trade confidence in SME family businesses remains strong, but worsening risk and governance tensions are dragging down export potential.
India's SME family business exporters show strong trade optimism, but that confidence is being reduced by a hostile and worsening risk environment. A study of 461 leaders uses four indices to measure forward-looking optimism, macro risk burden, risk momentum, and family governance risk, producing a modestly positive Net Trade Confidence Score. The report highlights a structural gap between business expectations and operating conditions and calls for targeted support on trade literacy, export finance, and family governance in internationalisation decisions.
May 19, 2026
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Money laundering through benami accounts and extortion allegations drove custodial interrogation in a large financial crime probe.
Proceedings under the Prevention of Money Laundering Act involved allegations that Ashok Kharat orchestrated an extortion racket and laundered more than Rs 70 crore through benami bank accounts. The agency alleged misuse of victims' documents, opening of multiple accounts in a single day, and acquisition of properties in the names of Kharat and his family members from the alleged proceeds.
May 19, 2026
Show AI Summary
Temple gold monetisation rumours denied; official communications confirm no approved scheme or strategic reserve classification.
False claims regarding a proposed monetisation scheme for temple gold holdings are expressly denied. Assertions that the Government plans to issue gold bonds to temples in exchange for temple gold reserves, or that any such proposal has been approved, are stated to be completely false, misleading, and without basis. Claims that gold plates on temple towers, doors, or other temple structures would be treated as Strategic Gold Reserves of India are also denied as baseless.
May 18, 2026
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Sanctions compliance settlement follows alleged Iran-linked LPG shipments, with cooperation, self-disclosure and remedial controls credited.
Civil sanctions liability arising from alleged Iran-related LPG shipments was settled with the U.S. Treasury Department's Office of Foreign Assets Control, without any admission of the allegations. The company's purchases from a Dubai-based trader were alleged to have involved LPG that originated from Iran, despite being represented as Omani and Iraqi supply. OFAC credited extensive cooperation, proactive self-disclosure, suspension of LPG imports, and strengthened sanctions compliance measures across the corporate group.
May 18, 2026
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Supply shock monitoring shapes RBI's data-dependent inflation stance as temporary price spikes may be looked through.
The Reserve Bank of India is monitoring whether supply shocks become embedded in the general price level and require monetary policy action. Temporary first-round effects may be looked through, but sustained increases that raise wages, production and transportation costs and generate broader inflation may call for tighter policy. A wide inflation tolerance band provides space to absorb short-run volatility while keeping the medium-term focus on price stability and data-dependent policy.
May 18, 2026
Show AI Summary
Sanctions compliance and voluntary self-reporting led to a reduced OFAC settlement for Iranian-origin LPG import allegations.
Adani Enterprises settled an OFAC sanctions matter involving apparent violations linked to imports of Iranian-origin LPG through Mundra Port by agreeing to pay USD 275 million. The company said the resolution did not constitute a finding of guilt or wrongdoing and resolved all related liabilities. OFAC reduced the amount after voluntary self-reporting, proactive disclosure, cooperation, and corrective compliance steps, including strengthened sanctions controls and enhanced internal measures across the corporate group.
May 18, 2026
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Rupee pressure and forex controls intensify as rising oil prices, dollar strength, and import curbs weigh on currency stability.
The rupee weakened to a record low against the US dollar amid a strong dollar, rising crude oil prices, geopolitical tensions, and foreign investor outflows. Market participants noted that the exchange rate remained under pressure from global sentiment and elevated oil prices. The commentary also noted that RBI intervention and restrictions on imports of gold and silver could support the rupee at lower levels, while higher import duty and licensing controls on precious metals were intended to curb non-essential imports and reduce forex outflows.
May 18, 2026
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Raw jute shortage and trade restrictions push jute mills toward closure, prompting demands for stock release and import relief.
Raw jute shortages, steep price escalation, and trade restrictions have disrupted jute mill operations in West Bengal, leaving mills without a transparent reference price or workable procurement conditions. Millers seek release of residual stocks, easing or withdrawal of stock and trade restrictions, permission for emergency imports, and restoration of a viable price corridor for raw jute. They also urge abolition of agricultural marketing fees and improved payment discipline to suppliers to stabilise supplies and protect employment across the jute belt.
May 18, 2026
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Tribunal infrastructure and capacity need urgent strengthening to support the NCLT and NCLAT insolvency framework.
Institutional strengthening of the NCLT and NCLAT is urged because of their central role in India's company law and insolvency framework. The concerns include permanent and modern infrastructure, uninterrupted courtroom operations, reliable power backup, additional bench strength, permanent staffing, and better support for judicial and technical members. A review of the compulsory rotation policy is also requested to improve continuity and specialisation within the tribunal system.
May 18, 2026
Show AI Summary
Industrial policy incentives drive investment, jobs, exports and sector-specific manufacturing growth across Haryana's new policy framework.
Haryana approved the Make in Haryana Industrial Policy 2026 as the State's principal industrial policy, replacing the 2020 framework and reclassifying industrial areas into core, intermediate, sub-prime and prime/focus categories. The policy is designed to attract large-scale investment, expand employment, increase exports and extend financial incentives across all blocks, including capital subsidy, R&D support, recruitment-linked incentives, export promotion measures and green-industry facilitation. It also provides for net SGST reimbursement, sector-linked assistance for large, mega and ultra mega units, and interest on delayed investor payments after 1 April 2026.
May 18, 2026
Show AI Summary
Provisional attachment of properties under fugitive economic offender and money-laundering laws over alleged proceeds of crime linked to Mirchi family assets.
Provisional attachment of assets under the Fugitive Economic Offenders Act and money-laundering framework has been made in connection with the alleged proceeds of crime linked to late gangster Iqbal Mirchi and his family. The attached assets include three Worli properties in Mumbai and overseas properties in Dubai, with the investigation attributing ownership and control to Mirchi and his associates despite the properties standing in the name of a trust or other entities on paper. The enforcement action arises from multiple police FIRs concerning alleged organised criminal activity, including drug trafficking, extortion and illegal arms activity. The investigation states that the properties were allegedly acquired through laundering of proceeds generated from those activities.
May 18, 2026
Show AI Summary
Russian crude sourcing remains driven by commercial viability and energy security despite the expiry of a sanctions waiver.
India continues to source Russian crude oil on the basis of commercial viability, adequate supply availability and energy security, and the expiry of a temporary US sanctions waiver does not change that approach. Procurement is described as continuing so long as it remains commercially sensible and supply is available. Russian oil remains a core part of India's import basket, with sourcing structured to avoid sanctioned sellers, intermediaries and vessels and to use compliant financial, insurance and trading channels.
May 18, 2026
Show AI Summary
Money laundering investigation leads to judicial custody amid alleged GST fraud, shell companies, and benami property transactions.
Punjab minister Sanjeev Arora was placed in judicial custody in connection with an alleged money laundering investigation arising from claims of GST fraud, suspicious property purchases, shell company routing, and benami holdings. The Enforcement Directorate stated that its questioning had been completed and that it was preparing to file a charge sheet. The investigation also reportedly extended to family members through summons and notices, with some relatives questioned and released.
May 18, 2026
Show AI Summary
Intensive audit of power discoms follows court directions on regulatory assets and limited audit scope.
The Delhi Electricity Regulatory Commission has initiated an intensive audit of Delhi distribution companies through a CAG-empanelled chartered accountancy firm after issuing a tender in line with Supreme Court directions. The audit is tied to the liquidation of accumulated regulatory assets and is confined to examining the circumstances in which the distribution companies continued without recovery of those assets, rather than a comprehensive financial audit. The process follows the Appellate Tribunal for Electricity's ruling that the earlier proposal for a CAG-conducted audit was not required by the Supreme Court and was contrary to the governing framework.
May 18, 2026
Show AI Summary
Silver import restrictions lift domestic prices as gold stays flat amid rupee weakness and global bullion pressure.
Gold prices remained flat in the domestic bullion market, while silver prices edged higher after fresh restrictions were imposed on imports of silver in nearly all forms. The market reaction reflected expectations that tighter import availability could raise local premiums and support domestic silver prices, even as global bullion markets weakened. Domestic gold prices stayed resilient despite international softness because the rupee weakened to a record low, cushioning the decline in local rates.
May 18, 2026
Show AI Summary
Export growth strategy links free trade agreements, import substitution, and Swadeshi to strengthen India's domestic manufacturing base.
India has set an export target of USD 1 trillion for the current year and USD 2 trillion over the next five years, supported by free trade agreements with nearly 38 developed countries, import substitution efforts, and promotion of Swadeshi. The statement also stresses quality, productivity, domestic manufacturing, MSME growth, and wider use of UPI and RuPay to strengthen exports and reduce import dependence.
May 18, 2026
Show AI Summary
Bail as the norm in UAPA cases shapes liberty analysis even where drug trafficking and terror financing are alleged.
Bail continues to be treated as the norm and jail as the exception even in UAPA matters, including cases alleging drug trafficking and terror financing. The gravity of the accusation by itself does not displace the governing bail principle, and personal liberty remains a central consideration in criminal procedure despite the special statutory framework involved in such prosecutions.
May 18, 2026
Show AI Summary
Rupee weakness and forex pressure prompt tighter precious metal import controls to curb dollar outflows and support external stability.
The Indian rupee weakened to a record low against the US dollar amid a strong dollar, rising crude oil prices, geopolitical tensions, and foreign portfolio outflows. The government tightened controls on precious metal imports to reduce forex outflows and restrain non-essential imports by raising import duty on gold and silver and placing silver under a licensed import regime.
May 18, 2026
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Market resilience and domestic investor confidence help Indian markets absorb global shocks and recover after volatility eases.
Indian markets are described as resilient enough to absorb external shocks arising from global crises, including conflict-driven volatility, supply chain disruption, inflationary pressure, spillover effects and second-order effects. The market impact of international developments is presented as natural in an interconnected global system, while the domestic market is said to regain its normal trajectory after the shock subsides. The statement also notes foreign portfolio investment outflows since September 2024, alongside continued confidence among domestic investors.

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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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