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    US oil firms sign deals with Iraq to develop alternative shipping routes
    HC transfers probe against ex-MLC Haji Iqbal from UP STF to SFIO
    Rupee rises 12 paise to close at 96.30 against US dollar
    MP industrial corporation, Amazon ink pact to accelerate e-commerce exports
    Following are the top foreign stories at 2015 hours
    Pending civil suits, arbitral claims stand abated after resolution plan approved under IBC: SC
    India'€™s forex kitty jumps USD 964 mn to USD 675.15 bn
    Rupee rises 14 paise to close at 96.28 against US dollar
    Office of Economic Adviser to Release Revised Index of Core Industries Series with Base Year 2022–23
    Fourth Edition of IICA’s National Conference on Responsible Business Conduct (NCRBC) 2026 held in New Delhi
    Reliance promoters raise stake by 0.5 pc through Rs 8,500-9,000 cr worth of share purchases
    US Senate bill seeks 100% tariffs on India, 4 other nations for buying Russian oil
    NRIs can bring USD 70-80 bn into India through FCNR deposits: expert
    NetAcct Solutions Launches Entries ERP Powered by the Entries AI Platform
    Union Minister of Commerce and Industry, Shri Piyush Goyal Leads High-Level Delegation to Finland to Strengthen Trade and Investment Ties
    India Achieves Major Milestone at Codex Commission with Adoption of Three Global Standards for Spices
    Centre for Trade and Investment Law launches guidebook to help Indian MSMEs expand into global markets
    Brazil calls Trump's 25 pc tariff unjustifiable, vows to impose reciprocal tariffs
    Trump administration races clock to rebuild US tariff wall knocked down by SC
    JK marks maiden export of premium cherries, plums to Singapore
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    July 18, 2026
    Show AI Summary
    Alternative oil export routes aim to reduce Iraq's reliance on the Strait of Hormuz through pipeline investment and regional transit.
    Alternative oil export routes from Iraq are being pursued through agreements to develop pipeline capacity that can reduce reliance on the Strait of Hormuz. Planned pipelines would support larger-scale exports through Syria and Turkey and strengthen energy-security options amid disrupted maritime shipments. Their timing and viability remain uncertain because cross-border construction requires substantial development and coordination. Existing overland shipments through Syria offer a temporary, but less efficient and more costly, route to European markets. Iraq has emphasised its preference for long-term investment partnerships over project-based contracting.
    July 17, 2026
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    Consolidated fraud investigation requires specialised inquiry where an investor complaint forms part of an alleged shell-company network.
    A fraud investigation concerning an alleged real-estate investment scheme was transferred to the Serious Fraud Investigation Office because the named company was stated to be part of a wider alleged shell-company network already under its examination. The FIR was not quashed, as the complainant's individual transaction had not been investigated. A single specialised inquiry was considered necessary to prevent fragmented or conflicting investigations into an allegedly indivisible fraud scheme.
    July 17, 2026
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    Foreign exchange market movement strengthens the rupee as equity gains and possible central-bank support offset oil-price pressure.
    Foreign exchange market movement saw the rupee appreciate against the US dollar, supported by positive domestic equity-market performance, lower US Treasury yields and reported possible central-bank intervention. Elevated West Asia tensions, higher global crude-oil prices and cautious foreign investment flows continued to pressure the currency. Market attention remained focused on global developments, crude-oil movements and foreign institutional investment activity, alongside an increase in foreign-exchange reserves.
    July 17, 2026
    Show AI Summary
    E-commerce export promotion supports Madhya Pradesh businesses through global marketplace access, exporter readiness, and a cross-border export roadmap.
    A memorandum of understanding supports Madhya Pradesh businesses, including MSMEs, entrepreneurs, direct-to-consumer brands, manufacturers, weavers, artisans and producers, in accessing international customers through the Amazon Global Selling programme. The collaboration will improve e-commerce export awareness, exporter readiness and knowledge sharing, while developing a state export roadmap with policy and infrastructure recommendations. It will also identify interventions relating to logistics, access to finance, payment reconciliation and regulatory enablers for cross-border exports.
    July 17, 2026
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    Russian oil purchase tariffs and tighter visa oversight reshape trade exposure and immigration compliance for foreign nationals.
    Proposed trade tariffs on purchases of Russian oil would target specified countries, including India and China, while exempting European purchasers of Russian gas. Separately, tighter United States visa regulations for international students, exchange visitors and journalists would end a long-standing arrangement allowing indefinite residence without government oversight. The reported changes may materially affect foreign nationals, including Indian nationals, through differentiated trade treatment and enhanced immigration compliance requirements.
    July 17, 2026
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    Clean slate doctrine extinguishes uncrystallised operational claims and pending proceedings once an approved insolvency resolution plan becomes binding.
    The clean slate doctrine under the Insolvency and Bankruptcy Code is described as abating or extinguishing pending civil suits and arbitration involving pre-insolvency operational claims that had not crystallised into determinable and quantifiable amounts before resolution-plan approval. Claims must be submitted to and determined by the resolution professional, and only crystallised claims incorporated in the approved plan remain payable under its prescribed treatment. Once final, the creditor list and approved plan bind all stakeholders.
    July 17, 2026
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    Foreign exchange reserves rose as foreign currency assets, gold, Special Drawing Rights and IMF reserve position increased.
    Foreign exchange reserves increased during the reporting week, principally because foreign currency assets rose. Reserve components include foreign currency assets, gold reserves, Special Drawing Rights and the reserve position with the International Monetary Fund. Foreign currency assets, expressed in dollar terms, reflect valuation effects arising from movements in non-US currencies held in the reserves. Gold reserves, Special Drawing Rights and the reserve position with the International Monetary Fund also increased.
    July 17, 2026
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    Rupee exchange-rate movement stabilised after possible central bank intervention, while oil prices and foreign fund flows sustained pressure.
    The rupee strengthened against the US dollar following four declining sessions, reportedly amid possible Reserve Bank of India intervention. Elevated West Asia tensions, higher crude-oil prices and cautious foreign fund flows continued to weigh on the currency, despite consolidation in the absence of major domestic triggers. Market participants were expected to monitor global developments, crude-oil movements and foreign institutional investor activity for the next directional move.
    July 17, 2026
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    Revised Index of Core Industries adopts a new base year, adds Iron Ore, and aligns production measurement methodology.
    The revised Index of Core Industries adopts 2022-23 as its base year and replaces the 2011-12 series. Its weights are derived from the 2022-23 Index of Industrial Production and redistributed pro rata to total 100. Iron Ore is added as a core industry, expanding the basket to nine industries. The Steel Index will use gross production data for consistency with the Index of Industrial Production. In the Coal sector, only Raw Coal is retained; Coal Middlings and Washed Coal are excluded to prevent double counting.
    July 17, 2026
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    Sustainability reporting discipline requires credible disclosures, board-level integration, data assurance and proportionate ESG implementation across business value chains.
    ESG-led responsible business conduct requires sustainability disclosures that are relevant, comparable, evidence-based and verifiable, supported by reliable systems, internal controls, documentation, traceability and independent examination. Sustainability should be integrated into board-level decision-making, fiduciary responsibilities, risk management and long-term enterprise value. Stronger governance, accountability and data-assurance frameworks are needed to address greenwashing, with proportionate reporting, technology and capacity-building supporting implementation across value chains and MSMEs.
    July 17, 2026
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    Promoter shareholding increase through market purchases remains within creeping acquisition limits and signals confidence in long-term growth prospects.
    Promoter and promoter-group shareholding in Reliance Industries Ltd increased by nearly 0.5 percentage points through market purchases during the June quarter. The purchases were reported to be within SEBI creeping acquisition limits, allowing gradual promoter acquisitions without triggering a mandatory open offer where prescribed thresholds are met. The increase may strengthen promoter control and marginally reduce public float, and was characterised as reflecting confidence in long-term growth, earnings trajectory and capital-allocation plans.
    July 17, 2026
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    Tariffs on Russian oil purchasers would target sanctions evasion, with reassessment mechanisms and limited energy-sector exemptions proposed.
    Proposed United States Senate legislation would impose mandatory tariffs on imports from leading purchasers of Russian oil or gas and leading facilitators of Russian oil-sanctions evasion. It provides for periodic reassessment and tariff adjustments, while exempting qualifying countries reducing Russian gas imports. Russian uranium purchases for specified nuclear and medical needs, and certain nuclear and space cooperation activities, would be excluded.
    July 17, 2026
    Show AI Summary
    Foreign currency non-resident deposits enable overseas Indians to invest foreign earnings while supporting India's foreign-exchange reserves.
    Foreign Currency Non-Resident deposits allow Non-Resident Indians and Persons of Indian Origin to maintain overseas earnings as foreign-currency fixed deposits with Indian banks without conversion into Indian rupees. Banks may offer enhanced interest rates for a limited period under an initiative intended to strengthen foreign-exchange reserves and support the rupee. The framework covers the investment process, regulatory requirements, taxation aspects and advantages for eligible overseas investors.
    July 17, 2026
    Show AI Summary
    GST compliance management integrates reconciliation, input tax credit support, invoicing and statutory monitoring within an AI-powered enterprise platform.
    The unified cloud platform combines accounting, manufacturing, inventory, procurement, human resources, payroll, compliance, reporting and document management with an embedded AI agent. Its compliance functions include GST validation, purchase-register reconciliation with GSTR-2B, input tax credit support, supplier filing-gap detection, e-invoicing, e-way bills, TDS and statutory due-date tracking. Financial and operational workflows are intended to use common real-time data, with automation for invoices, journal entries, reconciliations, reporting, workflow approvals and compliance-risk monitoring.
    July 17, 2026
    Show AI Summary
    Institutional trade cooperation expands through industry MoUs, supporting investment, innovation and technology partnerships across strategic economic sectors.
    Bilateral trade and investment cooperation was advanced through ministerial discussions and industry engagements concerning financial markets, innovation, enterprise financing and commercial relations. Two institutional Memoranda of Understanding established mechanisms for industry collaboration and greater business engagement. Sector-specific interactions covered digital and frontier technologies, space, clean energy, bioeconomy, circular economy, infrastructure and advanced manufacturing, focusing on collaboration, investment and technology partnerships.
    July 17, 2026
    Show AI Summary
    Codex spice standards harmonise quality benchmarks for cardamom, coriander and vanilla, supporting trade consistency, market access and export competitiveness.
    Codex standards for large cardamom, coriander and vanilla establish harmonised international quality benchmarks following review by relevant committees on analytical methods, food additives and food labelling. The standards are intended to promote consistent quality requirements, facilitate trade, improve market access and support export competitiveness. India was also accepted as Co-Chair of an Electronic Working Group developing policy guidance on risk analysis for new food products.
    July 17, 2026
    Show AI Summary
    Export readiness for MSMEs strengthens global market access through trade intelligence, standards compliance, preferential origin rules and trade remedy awareness.
    Export readiness for Indian MSMEs is supported through practical guidance on identifying export opportunities, market-access requirements, trade intelligence tools, international standards, sustainability requirements and buyer identification. International expansion strategies include using preferential Rules of Origin and cooperation mechanisms under Free Trade Agreements, selecting export destinations, product positioning, diversification and value addition. Trade remedy awareness and guidance on unfair trade practices and import surges, together with institutional support, partnerships and trade-exhibition participation, can strengthen global competitiveness and integration into global value chains.
    July 16, 2026
    Show AI Summary
    Reciprocal tariff measures and multilateral dispute settlement are pursued in response to contested import duties.
    Reciprocal tariff measures are proposed in response to a new tariff on specified Brazilian imports allegedly involving unfair trade practices. Brazil rejects those allegations and proposes to use its reciprocity-law mechanisms, including reciprocal tariffs and other trade-related countermeasures, while pursuing multilateral dispute settlement. It maintains that trade investigations must conform to multilateral international-trade rules and notes that the tariff may burden exports and increase commercial uncertainty.
    July 16, 2026
    Show AI Summary
    Section 301 tariff authority offers a procedurally constrained route to replace temporary global import tariffs after emergency powers failed.
    Import-tariff authority is shifting from emergency-based measures to temporary and investigatory powers under the Trade Act of 1974. Section 122 supports a global tariff measure only for a limited period, whereas Section 301 permits tariffs or trade sanctions for unjustifiable, unreasonable, or discriminatory foreign trade practices after required public-comment and hearing procedures. Current Section 301 investigations concern forced-labour imports and alleged overproduction by trading partners. A more rule-bound tariff framework may reduce, but not eliminate, commercial uncertainty, and broad use of Section 301 for near-universal tariffs may face legal challenge.
    July 16, 2026
    Show AI Summary
    International food-safety and phytosanitary compliance supports premium cherry and plum exports from Jammu and Kashmir to Singapore.
    Export of premium cherries and plums from Jammu and Kashmir to Singapore was facilitated to expand overseas market access for temperate fruits. The produce underwent scientific cultivation, optimum-maturity harvesting, grading, sorting, packing and cold-chain handling in compliance with international food-safety and phytosanitary standards. The initiative highlights quality enhancement, market development, logistics, export-oriented production and improved post-harvest management for horticultural exports.

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      PMLA / Black Money

      HIGHLIGHTS

      July 8, 2026

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      New Delhi, Jul 8 (PTI) Following are the top stories at 9 PM NATION DEL101 JK-2NDLD ENCOUNTER (8.25 PM)

      LeT terrorist Zakir Ganai killed in multi-day operation in J-K's Shopian Srinagar: A Lashkar-e-Taiba (LeT) terrorist identified as Zakir Ganai was killed in South Kashmir's Shopian district following a relentless six-day operation launched by the Army and other security forces, based on a Jammu and Kashmir Police tip-off, officials said Wednesday.

      DEL111 LD RAM TEMPLE (9.17 PM)

      Donation 'theft': Adityanath defends Ram temple trust; Avinash Shukla named prime accused Ayodhya/Chitrakoot: Uttar Pradesh Chief Minister Yogi Adityanath on Wednesday defended the Ram temple trust saying the SIT probing the alleged donation theft found evidence against only eight out of nearly 150 people engaged in counting offerings, even as police took three accused into custody for further interrogation.

      DEL46 RAHUL-UGC NET (4.18 PM)

      Govt turning blind eye, sleeping soundly despite repeated 'scams' in NEET, NET: Rahul New Delhi: Congress leader Rahul Gandhi on Wednesday attacked the Modi government over alleged irregularities in the UGC-NET exam, saying it continues to turn a blind eye and sleep soundly despite repeated "scams" as years of hard work put in by lakhs of students hold no value for it.

      DEL96 DL-BUILDING-COLLAPSE-TOLL (8.10 PM)

      One dead, 5 to 6 people still feared trapped in Delhi's Rohini building collapse New Delhi: One person died while five to six others are still feared trapped after a three-storey under-construction building collapsed in Delhi's Rohini area on Wednesday, police said.

      DEL56 EDU-NEET-PLAN (4.58 PM)

      2027 NEET-UG plan: Computer-based test to be spread over 6 days across more than 1,000 centres New Delhi: Medical entrance exam NEET-UG, which is set to be conducted as a computer-based test from next year, will be spread over at least six days across more than 1,000 centres, sources said.

      CAL48 WB-MAMATA-DISSIDENTS (8.42 PM)

      Mamata warns dissident TMC leaders: 'Stay with party or join BJP' Kolkata: Former West Bengal chief minister Mamata Banerjee on Wednesday attacked the dissident Trinamool Congress leaders, asking them to either remain with the TMC or openly join the BJP instead of "staying in the middle of the river".

      DEL65 ED-TMC-LD ACCOUNTS FREEZE (5.40 PM)

      ED freezes TMC's Rs 440-cr worth bank deposits under PMLA Kolkata/New Delhi: The Enforcement Directorate (ED) on Wednesday said it has frozen three bank accounts of the Trinamool Congress (TMC), holding deposits worth Rs 440 crore, under the anti-money laundering law following searches in an alleged funds misappropriation case.

      DEL79 SPACE-GAGANYAAN-PARACHUTE-TEST (7.13 PM)

      ISRO successfully conducts critical test on main parachutes for Gaganyaan's crew module New Delhi: The Indian Space Research Organisation (ISRO) successfully conducted a critical test on the main parachutes for the Gaganyaan's crew module.

      DEL91 DFE-DRDO-PINAKA (7.46 PM)

      India conducts successful flight-test of Pinaka Long Range Guided Rocket New Delhi: India on Wednesday conducted a successful flight test of Pinaka Long Range Guided Rocket (LRGR) at the Integrated Test Range, Chandipur in Odisha, officials said.

      BOM32 MH-DOCTORS-2ND LD ASSAULT (6.56 PM)

      Shiv Sena corporator arrested for assaulting doctors at civic hospital; party promises disciplinary action Thane: Shiv Sena corporator Ramesh Mhatre and three of his associates have been arrested for allegedly assaulting doctors and medical staff at a civic-run hospital in Thane district of Maharashtra amid an outrage and political row, forcing the Eknath Shinde-led party to promise disciplinary action.

      BOM23 MH-FARMERS-SUICIDES-MARATHWADA (5.32 PM)

      465 farmer suicides recorded in Marathwada region in first half of 2026 Chhatrapati Sambhajinagar: As many as 465 farmers committed suicide between January and June 2026 in the Marathwada region of central Maharashtra with Chhatrapati Sambhajinagar district reporting the highest cases at 109, an official report said on Wednesday.

      DEL104 2ND LD RAINS (8.36 PM)

      Delhi, Mumbai grapple with monsoon havoc; 16 feared trapped in Pune collapse amid heavy rain New Delhi: Heavy monsoon rains battered large parts of the country on Wednesday, triggering flash floods and widespread disruption to rail and road traffic, with 16 people feared trapped under a collapsed garbage mound in Maharashtra's Pimpri Chinchwad and several parts of Delhi and Mumbai reeling under waterlogging.

      DEL103 CJP-PROTEST-LD DAY 19 (8.32 PM)

      CJP protest enters Day 19; Wangchuk loses over 7 kg, AISA member hospitalised New Delhi: Educator and climate activist Sonam Wangchuk's condition deteriorated further on Wednesday, with doctors reporting that he has lost more than seven kilograms since beginning his indefinite fast 11 days ago.

      LEGAL LGD7 SC-CBSE-GULF COUNTRIES (5.13 PM)

      SC agrees to hear plea filed by CBSE Class XII students from Gulf countries New Delhi: The Supreme Court on Wednesday agreed to hear a plea challenging the CBSE's March 27 assessment scheme for regular students who were affected by the cancellation of Class XII board examination in Gulf countries due to the Iran-US war.

      LGD8 DL-COURT-RIOTS-DELAY (5.20 PM)

      2020 Delhi riots: Court expresses concern over repeated delays in appearance of police witnesses New Delhi: A court here has expressed concern over repeated delays in the appearance of police witnesses and the production of case property in a case related to the 2020 Delhi riots, saying it resulted in wastage of time.

      BUSINESS DEL106 BIZ-INDIA-MALDIVES-INVESTMENTS (8.42 PM)

      India, Maldives conclude talks for investment treaty; legal scrubbing of text on New Delhi: India and the Maldives have concluded negotiations for a bilateral investment treaty (BIT), and the text is undergoing legal scrubbing before the deal is signed.

      FOREIGN FGN41 PM-INDONESIA-LDALL TEMPLE (4.45 PM)

      PM Modi, Prez Prabowo visit Prambanan Temple complex in Yogyakarta; launch conservation project Yogyakarta: Prime Minister Narendra Modi, along with Indonesian President Prabowo Subianto, on Wednesday visited the centuries-old iconic Prambanan Temple complex in Yogyakarta, marking the inauguration of a joint conservation project for this UNESCO World Heritage Site.

      FGN16 US-BISHNOI-LD INDICTMENT (9.59 AM)

      US charges Lawrence Bishnoi, Goldy Brar for Nijjar's killing in Canada in 2023 Washington: The US has charged Lawrence Bishnoi, a gangster imprisoned in India, and his aide Satinderjeet Singh alias Goldy Brar for ordering the assassination of Khalistan separatist Hardeep Singh Nijjar in Canada.

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