Stories from earlier this week and beyond.
The U.S. Department of Health and Human Services says one of 17 Americans repatriated from the MV Hondius has tested mildly positive for the Andes strain of hantavirus, while a second passenger has mild symptoms and has not yet been confirmed. Both are being transported in biocontainment units to specialized treatment centers in the United States. The cruise outbreak has left eight people ill, with six confirmed, and multiple deaths reported by WHO, while officials say the risk of spread is low.
India’s Fisheries Department will explore a production-linked incentive (PLI) scheme for MSMEs in the seafood sector, aiming to improve global competitiveness and accelerate exports. The plan, discussed in a high-level meeting between commerce and industry minister Piyush Goyal and fisheries minister Rajiv Ranjan Singh, targets a major shift toward value-added seafood and a larger export base. Export-oriented infrastructure and sustainability measures are part of the roadmap, alongside strengthening sanitary and phytosanitary compliance from production to packing.
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Likely Russian government hackers attempted to compromise a security researcher known for investigating spyware attacks, including efforts to hijack Signal accounts. Instead of being taken by surprise, the researcher reversed the intrusion and uncovered new details about the hackers’ espionage campaign. The case highlights how sophisticated targeting can extend beyond victims to the investigators studying them.
Arunachal Pradesh Cabinet approved a revamped Inner Line Permit regime under the Bengal Eastern Frontier Regulation, 1873, including a fully digital eILP system with QR-code verification at every check gate. It also introduces Aadhaar-based authentication, mandatory police verification, and stricter sponsor accountability for work-related permits, alongside enhanced penalties for overstay and surprise compliance checks. The cabinet additionally cleared Tenancy Rules, 2026 and an Airport Area Development Authority Bill, 2026. At the same time, sweeping austerity steps restrict travel, reduce convoys, and push paperless and energy-saving practices.
PDP leader Iltija Mufti sharply criticized Jammu and Kashmir CM Omar Abdullah for refusing an alcohol ban, arguing his justification—that Hindus may drink because religion permits it—doesn’t add up. Posting on X, Mufti demanded to know how Hindu-majority states like Gujarat and Bihar managed alcohol prohibitions “without a whimper.” She also said Abdullah dismissed religious sensibilities of the majority with indifference. Abdullah, meanwhile, defended his stance by saying people aren’t being forced to drink.
At 10,269 feet in north Kashmir’s Sadhana Pass, India’s Army and the J&K administration inaugurated a new checkpoint and the Shaurya Gatha war museum. Set on the Shamshabari Range, the integrated transit facility includes airport-style infrastructure, frisking protocols, and trained dogs aimed at stopping narcotics smuggling. The museum, built by the 28 Infantry Division and 104 Brigade, preserves Tangdhar’s role in three India-Pakistan wars, including a viewpoint honouring Brigadier Harbaksh Singh. Officials also promoted battlefield tourism and cultural heritage.
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Karnataka’s IT Ministry held a high-level spacetech ecosystem consultation chaired by Minister Priyank Kharge, bringing together startups, academia, industry, HAL and public institutions. The standout plan: a Common Assembly, Integration and Testing (AIT) facility in the state, using land near Bengaluru and a Public-Private Partnership model. Officials also discussed easier access to existing test infrastructure, manufacturing parks, and Karnataka’s draft Space Policy.
Prime Minister Narendra Modi will begin a five-nation tour from 15 to 20 May, starting in the UAE before moving to the Netherlands, Sweden, Norway, and Italy. MEA Secretary (West) Sibi George said the agenda is built around strengthening the Comprehensive Strategic Partnership with the UAE and expanding cooperation in energy, defence, and technology. The Netherlands leg highlights semiconductors and IMEC, while Norway and the Nordic summits focus on the Blue Economy, AI, resilient supply chains, and the green transition.
India’s listed REITs and InvITs are a key pipeline for long-term infrastructure capital, backed by distribution rules and a mostly single-layer tax design. But Budget 2026’s revised treatment of MAT credits creates a structural dilemma for REIT/InvIT SPVs: shifting to the new corporate tax regime may make dividends taxable for unit holders, cutting yields, while staying outside risks MAT credit lapse and future liabilities. Either way, cash-flow uncertainty could raise the cost of capital. Policy design must protect predictability.
Savannah Guthrie marked Mother’s Day with a raw plea for help in finding her missing mother, Nancy Guthrie, who vanished from her Arizona home in late January. Investigators suspect abduction after finding her blood on the porch and learning that security cameras were disconnected beforehand. The FBI says recovered DNA from a glove may connect to a masked person seen in doorbell footage. Officials stress the family is not involved, while Guthrie urges anonymous tips, with federal and family rewards totaling $1.1 million.
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Finance Minister Nirmala Sitharaman says the 16th India-EU Summit in New Delhi in January delivered decisive momentum to the strategic partnership, taking ties to a higher level. She pointed to the successful conclusion of negotiations for the India-EU free trade agreement, alongside the signing of a Security and Defence Partnership and adoption of a mobility cooperation framework. The EU ambassador urged an investment liberalisation chapter and a separate investment protection pact, as legal review of the roughly 1,000-page FTA is set to end in July.
Maharashtra has signed an MoU with AM Intelligence Labs for a proposed Rs 1.14 lakh crore investment to build an Integrated Green Data Centre Park and an AI Compute Hub in the Mumbai region. The plan, backed by the state’s IT Policy 2023 and Green Data Centre Park Policy 2024, is designed to run entirely on renewable energy. Officials expect around 8,000 direct jobs plus additional roles, with construction and operations covering high-tech careers.
Karnataka, a top high-tax alcohol market, plans to scrap government price controls and move to strength-based excise taxation from April 2026. The shift would let liquor firms set prices and replace tax slabs with a strength-linked structure, potentially altering margins and consumer prices. The move comes as premium liquor demand continues to lift results for players like United Spirits.
At a Rose Garden dinner, President Donald Trump drew laughter after describing the White House’s deteriorating condition in a near-profane slip, saying he would have called it a “Shit House” when he returned. He then credited ongoing renovations for restoring damaged plaster, walls, and interiors to “perfect” condition, showcasing marble statues and gold-trimmed Oval Office details. Trump also promoted a nearly $400 million ballroom tied to security upgrades, with reports suggesting Republican pressure for taxpayer-funded protections.
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The Delhi High Court, led by Justice Swarna Kanta Sharma, has reportedly issued a notice of criminal contempt against AAP leader Arvind Kejriwal over “extremely defamatory” content circulated against her. The judge also indicated contempt proceedings may follow against other AAP figures, including Manish Sisodia and Durgesh Pathak, warning that tolerating such attacks could lead to “anarchy.” The development emerged during CBI arguments challenging discharge orders in the Delhi excise policy case, amid a recusal row.
Rajasthan Police’s SOG escalated its NEET-UG 2026 paper leak probe by detaining alleged mastermind Manish Yadav and paper distributor Rakesh Mandawariya, while widening arrests across five states. Sources say the network’s chain traces to Nashik in Maharashtra, where a physical paper was sent to Haryana for reproduction before being split into sets and distributed to Rajasthan, Telangana, Andhra Pradesh and Jammu & Kashmir. NTA has already cancelled the exam and ordered a CBI probe. Around 45 people are reportedly in custody so far.
Axis Mutual Fund has temporarily suspended new subscriptions to three overseas fund-of-fund schemes—Global Equity Alpha, Global Innovation, and Greater China Equity—from May 13, 2026. In a notice-cum-addendum, it said lump-sum, switch-ins, fresh registrations of systematic transactions, and systematic transactions received after 3:00 PM on May 13 will be rejected. Already-registered SIPs will be paused and any instalments deducted after the effective date will be refunded within applicable timelines, while other scheme terms remain unchanged.
Indian auto demand kicked off FY 2026-27 with a strong start as passenger vehicle dispatches to dealers rose 25.4% year-on-year to 4,37,312 units in April, according to SIAM. Utility vehicles and passenger cars powered the growth, while vans, two-wheelers and three-wheelers also posted sharper gains. Overall vehicle wholesales increased 27.9% to 23,16,671 units despite worries over high commodity prices linked to West Asia disruptions.
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U.S. President Donald Trump downplayed recent strikes on Iranian targets as a “love tap,” telling ABC News that the ceasefire remains in effect even after an exchange of fire near the Strait of Hormuz. During the call, he rejected claims that escalation meant the agreement had collapsed, while the U.S. Navy reported successful transit through the strategic waterway despite Iranian attacks. Separate reports said U.S. strikes hit maritime corridors near Iran’s Qeshm port and Bandar Abbas, described as limited and not a return to full war.
Honda plans to begin introducing India-specific car models from 2028 as it rebuilds and expands its automobile business. The company says India is one of its top growth markets alongside North America and Japan, and will rework specifications to match local preferences. Honda also intends to lift two-wheeler production in India to about 80 lakh units by 2028 from 62.5 lakh, using strong motorcycle sales to encourage upgrades to passenger vehicles.
A delegation of more than a dozen U.S. CEOs will join President Donald Trump on his May 14-15 summit with China’s Xi Jinping, but this time the visit is built around “tangible asks” rather than big trade announcements. Companies including Tesla, Meta, Mastercard, Visa, BlackRock, Illumina and others are seeking regulatory approvals, market access and investment openings amid tougher scrutiny of U.S. tech, shifting export controls and political tension. Officials say the summit is meant to unlock stalled conversations.
As India tries to contain the economic fallout from the West Asia conflict, the Prime Minister’s Office is coordinating across ministries to protect growth, inflation and the current account. Officials are mapping opportunities from the Iran-linked disruption while modeling the hit from soaring global oil prices under different price bands. Finance and commerce teams are considering easing FEMA, improving bilateral investment treaty terms, substituting select imports with domestic production, and tightening curbs on non-essential purchases like bullion and gems.
Ian Crosby, reeling from Bench Accounting’s 2024 shutdown and sale for scraps, is raising $10 million for a new venture called Synthetic. The company aims to deliver a fully autonomous AI bookkeeper for startups, producing accrual-based financials without human involvement. Though the product is still in design and Crosby admits it may not yet be technically possible, Khosla Ventures is leading the Seed round, arguing that founders can grow from past failures.
Cerebras has begun trading on the Nasdaq Global Select Market under the ticker CBRS, marking its U.S. stock market debut. The move puts the chipmaker’s growth plans directly in front of investors, but debut stocks can be volatile. Here’s what the listing means, and the key factors to watch before deciding whether CBRS belongs in your portfolio.
The Supreme Court is pulling deeper into a bitter Kapur family trust battle after 80-year-old Rani Kapur filed a fresh plea for urgent intervention. During the hearing, the bench remarked that the feud is so intense that “Mahabharat will look very small,” vowing to examine the matter. Rani wants restraint against interference in the RK Family Trust and a stay on a May 18 RIPL board meeting, arguing proposed independent directors and bank signatory changes could reshape control despite mediation proceedings.
Indian equities snapped lower on Friday as US-Iran tensions escalated, the rupee slid, and financial stocks saw heavy selling. The Nifty ended down 150.50 points at 24,176.15 and the Sensex lost 516.33 points to 77,328.19. Among the biggest movers, SBI dropped about 7% after margin pressure and weaker operating performance. Meanwhile, Titan hit fresh 52-week highs on a 35% YoY profit jump, while Urban Company slumped on a 57x surge in Q4 losses.
S&P Global Ratings upgraded London-based Vedanta Resources Ltd to BB from B+, citing improved finances and cost efficiency after the group’s demerger. The agency also raised ratings on the company’s senior unsecured notes to BB- from B-. The stable outlook reflects expected better cash flows, proactive refinancing, and ongoing deleveraging. S&P pointed to stronger aluminium competitiveness, a ramp-up of the Lanjigarh alumina refinery, backward integration into bauxite mining, and a liquidity position supported by long-term banking lines and sizable cash balances.
Marquee investor GQG Partners has sold nearly 58.9 lakh shares of Adani Enterprises in a block deal worth about Rs 1,435 crore. SBI Mutual Fund bought the entire stake at Rs 2,435.6 per share. The sale comes after the stock surged sharply during the session, rising up to 9%.
Meta and Google have partnered with familiar children’s brands like Sesame Street, Girl Scouts, and Highlights to promote “responsible” technology use for kids under 12. Critics say the move functions as reputation management: the same platforms are built to be hard to disengage from, and lawsuits allege addictive design that harms youth mental health. Reuters reviewed internal and court-released materials, including early proposals to recruit third parties to rebut addiction claims.
Delhi NCR has emerged as India’s leading D2C startup hub, topping both funding and deal counts between 2015 and Q1 2026. D2C startups in the region raised over $3.5 billion across 434 deals, beating Bengaluru’s $3.4 billion and Mumbai’s $2 billion. The NCR also spawned standout exits like Lenskart and Honasa Consumer. Analysts link the shift to faster-growing startup ecosystems, early-stage investor interest, and rising demand for omnichannel brand building.
Bitcoin hovered near $81,000 on Monday even after stronger-than-expected US nonfarm payrolls reduced hopes for near-term rate cuts. Sentiment stayed supported as Bitcoin ETFs logged about $630 million in net inflows last week, while investors looked ahead to the Senate’s upcoming CLARITY Act vote for regulatory clarity. Analysts said this week’s direction will hinge on CPI data, Fed signals, and broader geopolitics, with oil moving sharply after US-Iran tensions adding to volatility.
Instafix, a 30-minute doorstep repair service for premium smartphones, has raised Rs 7.55 crore in a pre-seed round co-led by Titan Capital and 8i Ventures. The startup, founded by ex-Blinkit leaders in 2025, responds to a broken repair experience that often returns within days and lacks reliable warranty coverage. Instafix says each repair is done on-site by certified technicians, typically in 30 minutes, backed by up to 12 months warranty, and costs up to 50% less than OEM centres. The funding will scale operations beyond iPhones.
Mizoram Chief Minister Lalduhoma on Thursday launched two online platforms to digitize allocation and booking processes managed by the General Administration Department. The Quarters Allotment Management System (QAMS) replaces manual handling of applications, vacant quarter updates, and changes caused by retirements or deaths, letting applicants apply and complete forms online. He also unveiled the Mizoram House Online Reservation System, enabling out-of-Aizawl residents to reserve accommodations without in-person visits. QAMS is already operational, and the reservation system saw 2,796 applications in its trial phase.
Quick commerce firm Zepto has received SEBI approval to proceed with its IPO, paving the way for an updated draft red herring prospectus to be filed in about six to eight weeks. Sources say the company is targeting a sizable listing potentially worth Rs 11,000–12,000 crore, with sizing and pricing still not final. Zepto is also reported to hold Rs 6,000–7,000 crore in cash. The move comes as rivals like Blinkit and Instamart see growth moderation but improving profitability.
Global oil prices spiked Tuesday as Brent crude jumped above $105 a barrel, driven by renewed worries about the fragile US-Iran ceasefire and a sustained disruption at the Strait of Hormuz. The Strait has been effectively closed for around 70 days, raising the threat of a widening supply gap. Saudi Aramco’s warning of 100 million barrels lost weekly underscores how long the crunch could last. India, which imports nearly 90% of oil, faces rising costs, OMC cash hemorrhaging, and fresh pressure on the rupee and equities.
US initial jobless claims rose moderately to 211,000 last week, signaling no major shift. The labor market remains stable as the unemployment rate held at 4.3%. Inflation pressures are still building: producer prices recorded their biggest jump in four years, but nonfarm payrolls continued strong gains.
Uttar Pradesh CM Yogi Adityanath compared the current West Asia crisis to the COVID era, urging citizens to adopt a “collective responsibility” mindset to protect fuel, food, and fertiliser supplies. Speaking at the “9 Defining Years of Transforming UP” conclave, he pushed self-reliance through public transport, renewable energy, carpooling, electric vehicles, and rural biogas community kitchens. He also touted major UP gains since 2017, including infrastructure expansion, rising agricultural output, and tripled per capita income, positioning the state as an investment hub.
Pakistan’s bid to present itself as a neutral go-between in the US-Iran standoff is being challenged after reports claimed Iranian military aircraft were quietly hosted at Nur Khan Airbase near Rawalpindi. CBS News, citing US officials, said the aircraft transfer followed shortly after Trump announced a ceasefire with Iran in early April. Analysts argue the timing and the base’s sensitivity undercut Pakistan’s mediator narrative, especially as reports also point to separate Iranian air activity involving Mahan Air. Pakistan and Taliban officials denied claims.
India’s Commerce Ministry says the India-EU Free Trade Agreement will cover nearly one-third of global trade and potentially affect about 2 billion people, calling it one of the biggest deals ever. Officials describe it as “mother of all deals,” reaching almost one fourth of global GDP and around $11 trillion in trade. The pact goes beyond tariffs, including services, digital trade, telecom, financial services, IP and regulatory practices. Businesses also flagged automotive tariff reductions and asked for clear rollout timelines.
Empromptu AI says most enterprises waste the most valuable training signal: the corrections experts make to outputs from AI apps already in production. Its new Alchemy Models captures validated responses, routes them into a continuous fine-tuning pipeline, and produces small task-specific “Expert Nano Models.” Customers own the resulting weights, but the approach is tied to Empromptu’s platform.
Renewable energy minister Pralhad Joshi said the renewable energy and power ministries will meet on Wednesday to address industry complaints over two pressure points: the deviation settlement mechanism and curtailment of green power. He said stricter grid compliance rules have raised viability concerns for renewable projects, with the government already holding several rounds of talks. The deviation settlement mechanism can impose grid penalties when actual supply or demand diverges from scheduled forecasts, adding uncertainty for developers and distributors.
US Immigration and Customs Enforcement says it has identified 10,000 foreign students, including some from India, accused of abusing the Optional Practical Training (OPT) part of their visas. OPT allows limited US work for up to 12 months, sometimes 24, and can be a path to H-1B sponsorship. ICE acting Director Todd Lyons said investigators found cases involving suspect employers and instances where beneficiaries were “managed” from India, violating rules requiring US training and direction. ICE calls OPT a “magnet for fraud.”
Iranian President Masoud Pezeshkian says dialogue with the United States does not mean surrender, stressing Tehran will not retreat on sovereignty or national rights. As a diplomatic step, Iran submitted its response to a US de-escalation proposal through Pakistani mediators, with talks aimed at ending regional war and restoring commercial shipping. But the tone turned tougher: Iran warned restraint is over, citing recent maritime strikes, issuing retaliation threats against US interests, and outlining a staged 14-point plan.
US authorities are reportedly nearing a resolution to fraud matters involving Asia’s richest person Gautam Adani. The US Justice Department could announce as early as this week that it is dropping criminal fraud charges that have hovered over Adani for more than a year, sources said. Separately, the Securities and Exchange Commission is working to settle a parallel civil fraud case filed in November 2024, likely involving a monetary penalty. Ending both cases could clear the way for Adani’s return to international capital markets and faster expansion.
Beneath Yellowstone’s famous geysers lies a far more complex system of underground water, steam, and heat driven by molten magma. Because this subterranean labyrinth is constantly changing, geyser activity can behave unexpectedly and occasionally trigger minor eruptions. For visitors, that means the surface spectacle is only part of a restless geological engine below.
Peak XV Partners, India’s largest VC firm, has appointed former Fractal executive Shelly Singh as an operating partner in its San Francisco office. The move signals a sharpened focus on US deals, particularly artificial intelligence, and places an operator-led lens on supporting founders. Singh, previously Fractal’s chief growth officer and a founder of Samya.ai, will help portfolio companies drive go-to-market acceleration, growth strategy, and organizational design. The appointment follows Peak XV’s increasing US investments after its separation from Sequoia.
Oil prices jumped sharply after the US and Iran failed to agree on a peace proposal, leaving the Strait of Hormuz restricted. Brent futures rose about $3.21 to $104.50 per barrel and US WTI climbed roughly $3.06 to $98.48, more than 3% on the day. Traders cited heightened shipping and supply fears, as drone incidents, nuclear tension, and reported naval actions raise the odds of further disruption. Analysts say the next move hinges on diplomacy and whether Hormuz reopens.
Google has quietly reduced the default free cloud storage for new accounts from 15GB to 5GB shared across Gmail, Drive, and Photos. The missing 10GB is unlocked only after users link a phone number during setup, a requirement that reportedly wasn’t part of signup earlier this year. Google also revised its help documentation to say “up to 15GB” rather than “15GB,” signaling a conditional offer. Existing users are unaffected.
A viral post on X has reignited debate over toxic workplace expectations after an employee was reportedly summoned for disciplinary action for leaving at the official closing time. The dispute reportedly began when an HR representative asked for the reason for a disciplinary meeting and challenged how early the employee departed. The worker said they clocked out exactly at 5 PM, prompting online outrage. The incident has also fueled fresh discussion on burnout, work-life boundary erosion, and warning signs like persistent physical pain and chronic exhaustion.
upGrad has filed with India’s Competition Commission for approval to acquire Unacademy, sealing an all-stock deal after months of speculation. The merger, expected to be valued around ₹2,055 crore, marks a steep drop from Unacademy’s 2021 peak valuation and is aimed at letting upGrad enter online test preparation. Unacademy is also expected to bring ₹900–₹950 crore in cash at closing. The talks, once paused over valuation mismatch, resumed after a term sheet signed in March.
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