Stories from earlier this week and beyond.
India is exploring lower taxes for foreign investors in its bond market, aiming to draw in longer-term capital and stabilize the rupee. The idea is to reduce currency-risk concerns that have kept foreigners away after selling equities. Success depends on how much tax relief is offered and the size of any investment limits.
Singapore Airlines Group’s FY26 profit fell 57.4% to SGD 1.184 billion, driven by the absence of a prior one-off merger gain and by losses linked to Air India. Even with weaker earnings, SIA says it remains firmly committed to its Air India investment, calling it essential to its multi-hub strategy in a fast growing aviation market.
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As import duties rise and Prime Minister Narendra Modi urged Indians to delay gold purchases, jewellery brands are pushing recycling offers. Customers can exchange old jewellery for new pieces, with redemption value tied to purity and current market prices. Companies increasingly use XRF machines to test composition accurately, helping buyers get more transparent quotes while potentially reducing India’s gold imports.
Keshia Smith, still mourning the deaths of her son and father, found a rare 3.09-carat diamond at Arkansas’s Crater of Diamonds State Park. The unusual site sits on an ancient volcanic pipe that keeps producing new gems for visitors to take home. She named her find the Za’Novia Liberty Diamond, turning unexpected geology into a symbol of healing and meaning.
Bollywood actor Ranbir Kapoor has acquired a land parcel in Ayodhya for Rs 3.31 crore, in a project near the Sarayu river. The purchase adds to a growing wave of investor attention as infrastructure expands and tourism picks up, turning Ayodhya into a more active real estate and development destination.
The Enforcement Directorate has frozen Gameskraft Technologies assets worth ₹526.49 crore, seizing gold jewellery and cash as part of a money laundering probe. ED claims the company bypassed geolocation bans and used bots to manipulate outcomes, first luring users with small wins before losses at higher stakes. The action follows arrests of cofounders and scrutiny intensified by the 2025 online gaming law.
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Actor Ranbir Kapoor reportedly purchased a 2,134 sq. ft. plot in Ayodhya for Rs 3.31 crore. The land forms part of a sprawling 75-acre development by The House of Abhinandan Lodha, which includes luxury amenities and a vegetarian hotel operated by The Leela. Kapoor said Ayodhya felt like it chose him, framing the buy as a family legacy.
DLF has signaled a major push, forecasting Rs 20,000 crore in sales bookings for FY 2026-27. The company attributes its target to an active pipeline of new residential projects, with upcoming developments planned across Gurugram, Mumbai, and Goa, aiming to convert strong launch momentum into bookings over the coming fiscal.
PFRDA has relaxed National Pension System annuity surrender rules. Subscribers who are dealing with critical illness can now request surrender. The regulator also allows exit under certain conditions for older annuity contracts that include an express surrender clause, giving policyholders more flexibility than before and changing how late-stage liquidity works in NPS.
Dhruva Space has secured a Rs 105 crore grant from the Centre under Project Garud to develop a standardized satellite platform. The effort targets an indigenous manufacturing ecosystem designed for high-volume satellite deployment, enabling quicker integration and faster rollout. The platform is intended to support communications, intelligence, and strategic applications with reduced time from development to deployment.
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Uber is planning to open two new engineering campuses in India, targeting close to 10,000 employees by the end of 2027. The expansion is designed to strengthen product development and day-to-day operations, signaling a major push to deepen local engineering capacity as the company scales its services and technology teams in the country.
Surya Roshni Ltd shares surged about 25% after speculation that the company could demerge its steel pipe and lighting businesses into separate entities. The stock jumped from around Rs 200 to Rs 253 as investors bet the restructuring would improve focus, unlock shareholder value, and potentially re-rate the businesses. No confirmed filing was highlighted in the report.
Karnataka Chief Minister Siddaramaiah clarified that saffron shawls will not be permitted in schools, covering education up to Class 12. He said existing religious practices such as hijab, turbans, rudraksha beads, and sacred threads can continue. Siddaramaiah also weighed in on the NEET controversy, adding to the political debate around campus regulation of religious symbols.
Domestic equities extended gains for a second straight day on Thursday, led by banks, metals and pharma, while IT lagged behind. The session also featured sharp stock moves tied to earnings and company announcements, pushing a handful of large names into the spotlight as big winners and losers.
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Anthropic’s Claude Code product head Cat Wu argues the next phase of AI won’t just respond to prompts—it will act proactively. These systems can understand workflows, anticipate needs, and automate repetitive tasks, reshaping software development and productivity. But Wu stresses that human oversight and decision-making remain essential as AI becomes more autonomous.
Russian President Vladimir Putin has sent condolence messages to President Droupadi Murmu and Prime Minister Narendra Modi after a severe cyclone and storms devastated parts of Uttar Pradesh. The note expressed deep sympathy for those affected and highlighted solidarity with India during the crisis, as rescue and recovery efforts continue across the region.
General Catalyst’s fictional AI “robot dog” ad for “Woof AI” has ignited a heated debate in Silicon Valley. Investor Marc Andreessen criticized the campaign as condescending and smarmy, even while conceding it’s clever. Supporters say the ad is bold; critics argue it’s judgmental—revealing a growing split over how tech brands should challenge or reassure audiences.
Bajaj Group is stepping into healthcare with a planned investment of over Rs 2,000 crore in Pune over the next three years. The group says it will build a comprehensive care model spanning prevention through acute intervention, before scaling it to multiple cities over the next decade, aiming for a broader footprint across India.
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After being tagged on Instagram by a young resident in Alinagar, Bihar, BJP MLA and folk singer Maithili Thakur moved quickly to clear a local garbage issue. She shared the outcome in a video and urged citizens to report civic problems directly to her, turning social media outreach into hands-on, on-ground action that has drawn widespread online praise.
EU heads of missions met Rahul Gandhi and Salman Khurshid, focusing on the EU-India strategic partnership described as “thriving.” The meeting also covered shifting geopolitical dynamics in India and globally. It forms part of the EU’s broader outreach to Indian political parties, signaling continued interest in how India’s internal politics may shape cooperation with Europe.
A decades-old mystery about how reinforced rubber stays extraordinarily strong may be solved. Researchers at the University of South Florida used about 1,500 molecular simulations to show that carbon black particles stop rubber from thinning as it stretches, forcing the material to resist volume changes. That shift in behavior helps explain the toughness behind tires and other reinforced elastomers.
Maharashtra Chief Minister Devendra Fadnavis arrived at Vidhan Bhavan on a motorcycle as part of new austerity steps to cut fuel consumption. The move follows Prime Minister Narendra Modi’s call for fuel conservation. The state government is also reviewing official vehicle usage, with reports of canceled foreign tours, while minister Nitesh Rane walked to Mantralaya.
Air India’s annual report shows losses of 3.56 billion Singapore dollars, equivalent to about $2.8 billion at current exchange rates. The figures come alongside Singapore Air’s results, highlighting how differently major carriers are performing as airlines navigate cost pressure, demand shifts, and financial strain.
UK Health Secretary Wes Streeting has resigned from the government, telling the public he no longer has confidence in Prime Minister Keir Starmer’s leadership. Streeting shared a resignation letter on X, framing the move as necessary ahead of the next general election. The announcement raises immediate questions about stability within the UK government and the health portfolio’s future.
Kerala’s new Chief Minister V.D. Satheesan, a six-time MLA and senior Congress leader, vowed a “new era” after years of Left rule. In his first major media interaction, he promised transparent, efficient governance and said the UDF would rebuild public trust that he claims was eroded under the previous regime.
Delhi Capitals Cricket Academy has launched a new centre in Seattle as it pushes into the United States. The academy will adopt Delhi Capitals coaching methods and partner with Seattle Thunderbolts Academy to develop young cricketers and build clear pathways for both players and coaches, boosting the franchise’s international footprint.
Unnati Agri cofounder Ashok Prasad died on Monday, May 11, following sudden cardiac arrest. He co-founded the agritech in 2011 with Amit Sinha and previously held leadership roles at companies including Tata Teleservices, Paytm, and Nokia. Unnati said he helped shape growth, institutional capabilities, and long-term strategy. Earlier this year, the startup announced it was acquiring Gramophone.
The CBI has detained a retired professor in Latur as its probe into the 2026 NEET-UG paper leak case escalates. The agency’s move suggests it is pursuing a well-organised paper-setting network tied to the city’s reputation as an education hub. Investigators say the development raises new questions about possible connections within the coaching and exam ecosystem.
Mortgage rates are climbing as U.S. Treasury yields rise, pulling refinancing costs higher across the housing market. The average 30-year fixed refinance rate jumped to 6.54%, while standard 30-year mortgage rates reached 6.34%. Sticky inflation and a cautious Federal Reserve outlook are keeping borrowing expensive, leaving homeowners who waited for lower rates facing a tougher reality in 2026.
The ICC reported a 15 percent rise in net surplus to $543.3 million in 2025, driven primarily by a sharp drop in event costs despite a slight fall in total revenue. Members’ funds nearly doubled, signaling improving financial strength. The sport’s governing body is now gearing up for the next media rights cycle, a key phase for future earnings.
Two LPG cargo vessels carrying supplies for India have safely crossed the Strait of Hormuz and are expected to reach Indian ports in the coming days. The move comes amid an ongoing West Asia crisis, highlighting the Centre’s push to protect energy deliveries and keep fuel supply uninterrupted even as regional risks remain elevated.
Apparel industry representatives met Vice President C P Radhakrishnan and ministers, demanding removal of an 11% import duty on cotton. They warn of a projected 45 lakh bales supply-demand gap for the upcoming season, which could push up input costs and strain domestic manufacturers. The request aims to ease cost pressures and protect the sector’s competitiveness.
The Reserve Bank of India has cancelled the registrations of 150 non-banking financial companies, effectively barring them from conducting financial business. The highest number of affected firms are registered in Delhi (about 67) and West Bengal (about 75). The move, taken under the RBI Act, 1934, impacts lending, leasing, and investment activities tied to these NBFCs.
Defence civilian employees have asked the 8th Pay Commission for pay scales, promotions, and benefits on par with Railway employees. The All India Defence Employees’ Federation also wants risk and hardship allowances aligned with uniformed personnel, alongside changes covering minimum pay, pension, and medical benefits. The demand could reshape how compensation and welfare benefits are structured for defence civilians.
Flying Wedge Defence & Aerospace (FWDA) says it has launched its first international manufacturing node in Portugal for its autonomous combat aircraft, Kaal Bhairava. The move, via a partnership with SKETCHPIXEL LDA, is part of FWDA’s “Operation 777” plan to create a global defence technology network with manufacturing footprints beginning outside India.
The Bar Council of India has directed the West Bengal Bar Council to submit a report on Mamata Banerjee’s lawyer enrolment and practice status. After her recent court appearance in lawyer’s attire, the BCI wants details on whether she was duly enrolled and actively practising during and after her tenure as chief minister.
The US is easing entry rules for World Cup fans by ending visa bond requirements for foreign visitors from select qualifying countries. Citizens from Algeria, Cape Verde, Ivory Coast, Senegal, and Tunisia who hold World Cup tickets will no longer have to post large visa bonds to enter the country. The move aims to make travel smoother for fans attending matches.
Thousands packed Tehran as Iran’s World Cup departure rally unfolded with fresh kit reveals and patriotic messages. Yet behind the celebrations, uncertainty remains over whether the squad can enter the United States for the tournament. Iran’s FA says it is working with FIFA to clear visa issues, while the team is set to train in Turkey ahead of kick off.
A viral video from Siddharthnagar, Uttar Pradesh, shows a man pleading for help after his mother was injured in repeated monkey attacks, while the District Magistrate appears focused on his phone. The clip sparked online anger over alleged bureaucratic apathy and “babu culture.” Officials later said a forest team was dispatched to address the issue.
TVS Motor has appointed Ravindran Shanmugam as an independent director, effective May 13, bringing deep experience in technology and consumer-focused businesses. The company says his expertise in digital transformation and AI-led platforms will back its growth ambitions. The move will also need shareholder approval, with his insights expected to shape TVS’s strategic direction.
AlphaGrep Mutual Fund has submitted draft papers to SEBI for its inaugural Multi Asset Allocation Fund. The open-ended scheme plans to invest across equities, debt, commodities and derivatives, using a diversified, rules-based approach designed to target long-term capital appreciation.
The Railway Board has pulled up Indian Railways zones for lagging behind on environmental initiatives, urging faster execution and timely completion. The push is tied to the 2030 goal of becoming a net zero carbon emitter. Despite a significant fund allocation last year, overall progress has been slow, prompting the Board to demand speed and accountability.
Netflix has renewed My Life with the Walter Boys for a fourth season, despite Season 3 not premiering yet. The announcement came during the streamer’s 2026 Upfronts presentation in New York, with Netflix confirming it will be back in Silver Falls again. Fans are already speculating what it means for Jackie’s love triangle.
Two separate ambushes in Manipur left four people dead, including three from the Thadou community and one civilian from the Chiru Naga community, with two others injured. Reports of hostages sparked protests across the region. Manipur’s Home Minister visited the mortuary and met families, who said they would not accept the bodies until those responsible are arrested.
Chris Wood will captain New Zealand at the World Cup with a clear mission: secure their first-ever tournament win and “create some history.” The striker said he believes the squad can compete despite the challenge ahead. New Zealand’s Group G campaign starts next month against Iran, Egypt and Belgium.
The BCCI has named the India A squad for an ODI tri-series in Sri Lanka in June 2026, with Tilak Varma set to lead as captain. Riyan Parag has been named vice-captain, highlighting the BCCI’s focus on grooming emerging talent for the next level. The team features several promising young cricketers across roles.
Britain’s Competition and Markets Authority has opened an antitrust investigation into Microsoft’s dominance in business software. The probe will examine whether bundling products such as Windows, Word, Excel, Teams, Copilot and others weakens competition. If regulators determine Microsoft holds “strategic market status,” targeted enforcement action could follow.
Delhi Chief Minister Rekha Gupta announced a fuel-saving and cost-cutting drive under “Mera Bharat, Mera Yogdaan,” asking private offices, IT firms, and educational institutions to reduce travel and fuel use. The government will shift to work from home two days a week for its own offices and recommends the same approach for the private sector.
Central government employees under CGHS can now list either their parents or parents-in-law as dependents for medical benefits. The move is a one-time option under the CGHS and Central Services (Medical Attendance) Rules, 1944, and once chosen it cannot be reversed by male employees. The clarification is meant to remove earlier ambiguity over eligible dependent categories.
Pakistan says it has successfully test-fired its indigenously developed Fatah-4 ground-launched cruise missile. The military described the system as an advanced weapon built for long-range, precision strikes, marking another milestone in Pakistan’s missile development efforts. Details on range, accuracy, and trial parameters were not provided in the brief report, but the test signals continued progress.
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