Stories from earlier this week and beyond.
Reliance Retail led by Isha Ambani is relaunching its quick commerce push with a redesigned model, signaling a shift from the earlier approach. The question now is whether this second innings can overcome customer expectations, operational costs, and intense competition—while building a sustainable edge in India’s fast delivery race.
India’s embassy in Tashkent has issued an advisory to Indian students studying medicine in Uzbekistan, asking them to verify their university credentials before enrolling or continuing courses. The move follows complaints about potential breaches related to Foreign Medical Graduate Licentiate rules. The embassy also cautions against admissions beyond university capacity and warns to scrutinize education consultants.
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Alaya By Stage3, an Indian ethnic wear brand, has secured seed funding aimed at expanding operations and strengthening its supply chain. The company plans to integrate AI to improve efficiency across key processes while scaling faster. With a target of Rs 50 crore annual recurring revenue in two years, it also signals a larger institutional funding round later this year.
A bipartisan group of US lawmakers visited the Dalai Lama in Dharamshala, prompting sharp criticism from China. Beijing warned Washington to acknowledge what it calls the Dalai Lama’s separatist role, while the US move is framed as support for Tibetan rights amid worsening US-China tensions. The Dalai Lama, in exile since 1959, continues to pursue meaningful autonomy for Tibet through dialogue.
Prime Minister Narendra Modi sharply criticized Congress, DMK, Trinamool Congress and the Samajwadi Party for defeating a bill meant to fast-track women’s reservation. He said the legislation would still be implemented eventually, and argued that parties opposing it would pay politically at the ballot box, particularly with women voters. The remarks signal a renewed push for the quota ahead of elections.
A new report highlights a stubborn gender leadership gap across Indian companies. It finds that women’s internal promotions fall well behind men’s as they near 50, with career breaks further limiting upward mobility and pay equity. The study also flags uneven access to high-stakes, revenue-generating roles—often critical to promotion pathways.
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Mumbai Indians delivered a dominant 99-run win over Gujarat Titans as Tilak Varma smashed his first IPL century to set a formidable target. Gujarat were hit early with wickets and failed to forge meaningful partnerships. From there, Mumbai’s bowlers tightened the screws, controlling every phase and wrapping up the match in comprehensive fashion.
23andMe, once a standout in direct-to-consumer genetic testing, has seen its momentum fade and market value fall sharply. Its setback highlights tough commercialization hurdles—costs, competition, and sustained demand—that could influence how India’s genetic-testing market grows. Yet the disruption may also open room for smarter, locally aligned offerings and stronger partnerships across healthcare.
Accenture’s latest signals are alarming for Indian IT workers. Despite reporting strong revenue, the company is cutting jobs, seeing muted growth, and has set aside about USD 250 million for severance. The gap between revenue strength and workforce actions suggests the pressure is real, challenging the long-held assumption of steady job security in the sector.
South Korea’s Ministry of Education has rolled out a permanent online promotion hub along with live admission webinars to draw more international students. The platform consolidates details on universities, scholarships, visas, and post-study employment, shifting outreach away from temporary fairs toward a continuous system connecting students and institutions year round.
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Japan is set to require Japanese language proficiency for applicants to engineer and specialist visas, asking for at least B2 CEFR or JLPT N2 levels. The move is intended to curb foreign hiring into low-skill roles, while international students changing visa status may be exempt. Firms with prior labor violations could also face restrictions on hiring.
Bansko, Bulgaria’s top ski destination, is countering climate-driven uncertainty by leaning into an all-seasons strategy that attracts digital nomads. Winter schedules get a boost from its one-hour time difference with London, allowing remote workers to ski early. With 75 km of World Cup-ready slopes, the resort is building a cosmopolitan base beyond peak season.
The Enforcement Directorate has flagged Indian buyers of Dubai properties, alleging they paid deposits or made transactions using international credit cards during visits or via payment links shared by UAE developers. Authorities say many may not have realized they were violating Indian laws, but the ED is probing the transactions and compliance gaps.
India notified final Cape Town Convention rules on January 30, a move meant to help global aircraft lessors recover planes if airlines enter insolvency, as seen in the Go First case. While the update strengthens enforcement pathways to reclaim grounded aircraft, uncertainty remains around how fully the legal framework will protect lessors in practice.
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Newly notified central government rules allow employees with at least 20 years of service to opt for voluntary retirement under the Unified Pension Scheme and receive an assured pro rata payout. The package also ties in retirement benefits including gratuity, leave encashment, and insurance-related schemes, aiming to make VRS decisions more predictable.
Orchid Pharma, once abandoned by investors, is hitting a major milestone with its first novel antibiotic drug. The company outlicensed the experimental therapy to Germany’s Allecra Therapeutics, which has now secured crucial approvals from the US FDA and a European drug regulator. Developed by Indian scientists in 2008, the breakthrough aims to strengthen the global fight against bacterial infections.
Agro Tech Foods, parent of Sundrop oils and ACT II popcorn, is set to acquire Del Monte India for INR 1,300 crore. ET Prime explores how combining these brands could unlock distribution, manufacturing, and brand synergy, and what it could mean for India’s packaged condiment category, where consumers already have established habits and strong competition.
Since ChatGPT’s November 2023 surge, Indian IT firms have signed AI contracts touting efficiency boosts of up to 50% for clients. Now, with the fiscal clock ticking, providers must convert marketing claims into measurable results—an execution test that could reshape trust, pricing, and future AI outsourcing contracts.
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Vedanta’s demerger plan is running into new hurdles as the deadline nears, putting pressure on Anil Agarwal’s team. The split is seen as critical to tackling debt and governance concerns while unlocking shareholder value. With the clock ticking, the Agarwals will need to push through the latest obstacles to keep the plan on track.
Silver prices fell sharply by Rs 2,577 to Rs 2.38 lakh per kilogram in national capital futures trading on Friday. The drop was linked to weak market trends and subdued demand from investors, suggesting cautious sentiment despite earlier volatility in commodities. Traders will now watch whether buying interest returns to halt the slide.
Small-cap mutual funds have roared back with double-digit gains over the past month, outperforming mid and large caps. But experts caution the move looks like a sharp post-correction recovery, not a durable trend, citing stretched valuations and rising investor exuberance. They suggest disciplined SIPs for high-risk investors, while noting large caps may offer better risk-reward now.
Ola Electric’s post-IPO reality is diverging sharply from the upbeat picture it painted before its listing. With continued service problems and fresh debt-raising moves, founder Bhavish Aggarwal faces another lackluster quarter. The company’s strategy for stabilising operations is now under a tighter investor spotlight as expectations reset.
Sebi’s WTM Mohanty said many frauds could have been prevented if CFOs acted as the first line of control over management activities. Speaking at a CFO summit organised by FICCI, he argued that stronger oversight and earlier checks could have reduced wrongdoing, implying that accountability within firms should begin at the finance chief level.
US Trade Representative Jamieson Greer said India is a “tough nut to crack” as US and India negotiators wrapped up talks toward a bilateral trade agreement. India is pushing to protect agricultural markets, while the sides still need to agree on specific products such as distillers dried grains (DDGs). A US Supreme Court ruling against reciprocal tariffs has forced the deal to be recalibrated.
Asian stocks rebounded in early trading as reports said Iran may attend US peace talks in Pakistan, easing geopolitical worries. South Korea’s Kospi hit a record high, while Japan’s Nikkei climbed. Brent crude eased to $95.09. Investors also turned cautious ahead of a key US Federal Reserve confirmation hearing featuring Kevin Warsh.
Influential investor Ranjan Pai has reportedly moved into senior care, putting the spotlight on a fast-growing sector framed as a possible USD30 billion opportunity. The development also raises questions about how capital could influence both formal healthcare capacity and the often-ignored grey economy around ageing services.
A new corporate governance allegation claims that money siphoned from Amtek group loans was used to buy multiple properties in Delhi NCR. Prosecutors say these homes and flats, valued at over INR 30 crore, were then allegedly transferred to former managing director RM Malla and his family for little or no consideration, raising questions about IDBI’s role.
Instagram Edits has completed one year, marking Meta’s push to make mobile video creation simpler end-to-end. The app has evolved from a basic editor into a workflow that supports ideation, editing, and distribution, avoiding desktop-style complexity. Meta says more than 130 updates have been rolled out, largely shaped by creator feedback.
India’s white-collar hiring remains resilient, with steady month-on-month growth and stronger year-on-year momentum. Consumer electronics led the charge with a 70% YoY rise, while senior roles climbed 36%. Mumbai topped city growth, and diversity hiring surged 53% over two years—driven by women accounting for 68% of these hires. Tier-2 cities are catching up too.
Tokyo Haneda Airport has been crowned the world’s cleanest for 2026, earning its tenth win in the major airport category. The global passenger survey also puts Incheon second and Singapore Changi third. Haneda additionally ranks third overall and keeps its 5-star rating, cementing its reputation for cleanliness and passenger experience.
Defence Minister Rajnath Singh said in Berlin that disruptions in the Strait of Hormuz would have direct consequences for India’s energy security, economy, and national stability. Framing it as “stark realities” rather than distant events, he argued that India’s developing economy remains highly vulnerable to any disruption in critical energy routes.
Sam Altman says Elon Musk helped spark OpenAI and that he once looked up to him, but his feelings have changed. Altman claims Musk even believed OpenAI had a “zero percent” chance of succeeding. While Altman praised Musk’s “incredible” contributions, he also said there are aspects he no longer admires.
A Climate Analytics report warns that expanding carbon capture and storage across Asian countries could add about 25 billion tonnes of extra greenhouse-gas emissions by 2050. The analysis argues CCS could lock economies into fossil fuel dependence, while cheaper and lower-risk renewable options are available—raising new concerns about meeting the Paris Agreement’s 1.5°C warming limit.
Tata Consultancy Services is shifting fast in the AI race. After layoffs and a slimmer bench, it has made its largest-ever acquisition, Coastal Cloud, for $700 million, and launched an AI-focused data-centre JV with TPG. The move signals a strategic reversal as TCS tries to catch up with the AI acquisitions it previously avoided.
Escalating tensions in the Persian Gulf are raising fears for millions of Indians employed across the UAE and other Gulf states. Their remittances—amounting to billions—support households and strengthen India’s rupee while funding broader development needs. If shipping routes are disrupted and regional economic fallout deepens, the impact could extend to India’s financial stability.
Japan will raise Japan Rail Pass fares for foreign tourists starting October 1, 2026, marking the first price increase in three years. The seven-day ordinary pass will rise to 53,000 yen from 50,000 yen, an increase of about 5–6%. The change follows broader fare adjustments by railway operators across Japan.
UPSC has announced major rules for the Civil Services Examination 2026. The prelims will be held on May 24, and face authentication will be mandatory at all exam centres. Candidates must upload both photographs and live images, while new eligibility restrictions apply to those already appointed to certain services. UPSC has also shortened the question paper representation period.
Disruptions in the Hormuz Strait and shifting global production are keeping energy markets unstable, delaying price recovery across international markets. For India, this prolonged uncertainty is more than a market story: it could deter foreign investment, adding pressure at a time when stability and predictable returns matter most. Policymakers may need to monitor these spillovers closely.
Fico, a US analytics firm behind credit scoring used by homebuyers, says stringent data localisation rules in India may impair fraud detection for banks. The company already runs traditional fraud models in the country, and is now pitching new payment fraud detection solutions. Its concern centers on how localisation requirements could restrict effective deployment of fraud analytics.
A bill to legalize assisted suicide for terminally ill adults has effectively been derailed in England and Wales. The Terminally Ill Adults (End of Life) Bill cleared the House of Commons in June, but the House of Lords has continued to talk it out, preventing it from moving forward. The outcome leaves the legal status unchanged.
Indian government bonds slid for a third straight day as oil prices climbed amid Middle East tensions. With fresh debt supply and bond auctions approaching, traders turned cautious. Since India imports most of its oil, higher crude directly feeds inflation and rate expectations, pushing overnight index swap rates up as markets brace for stubbornly elevated costs.
Global natural diamond prices have dropped sharply, with Alrosa’s shares down 77% and Anglo American booking a fresh $2.3 billion impairment on De Beers. Yet India’s wedding traditions—and rising gold prices—appear to be buffering demand, keeping diamonds marketed as “forever” even as the global shine fades.
Tensions in Kolkata’s Ekbalpur spiked ahead of West Bengal Assembly elections as BJP and TMC supporters clashed outside Ekbalpur Police Station. A BJP protest led by Rakesh Singh turned violent after counter-sloganeering, prompting a police lathi charge to disperse the crowd. At least nine workers were arrested, while one person suffered severe injuries amid the unrest.
Ravichandran Ashwin has fueled fresh IPL 2026 excitement by hinting that MS Dhoni may be set to feature for Chennai Super Kings against Mumbai Indians. Speaking on his YouTube channel, Ashwin pointed to signs suggesting the veteran wicketkeeper-batter could return to the playing XI soon, turning the upcoming CSK vs MI clash into a must-watch moment for fans.
A surprising gap is emerging: India’s wealthiest states are moving to cashless payments more slowly, even as UPI adoption accelerates in many others. States such as Tamil Nadu and Andhra have led digital-payment growth, while Gujarat, Karnataka, and Delhi lag. The paradox points to how prosperity can shape payment habits differently than expected.
Three independent directors of PTC Financial resigned abruptly on Friday, reigniting scrutiny over the company’s corporate governance. The move comes as longstanding governance problems appear to be resurfacing. With directors stepping down at once, stakeholders are now likely to closely examine what went wrong and how the board plans to restore confidence.
The RBI’s economic capital framework determines how much of its earnings can be transferred to the government as dividends after building reserves. With recent revisions to the framework, the allocation mechanics may change—potentially increasing or reshaping the dividend outcome. ET breaks down what economic capital is, why it matters for public finances, and what the updated rules could mean going forward.
Infosys shares fell after reporting a 21% rise in profit, as its FY27 revenue growth forecast of just 1.5% to 3.5% landed below expectations. Investors were also rattled by concerns over headcount reduction and fewer new deals. While brokerages remain split between Hold and Buy calls, most have cut price targets, citing macro uncertainty and AI disruption risk.
India’s Competition Commission of India has dismissed a complaint targeting Adani Group entities and others in connection with a Solar Energy Corporation of India tender. The CCI said there was no initial evidence of anti-competitive practices and noted the Adani Group does not appear to hold dominance in the power generation market, effectively ending the probe at the preliminary stage.
Pakistan has appointed Sarfaraz Ahmed as the new head coach for their Test team ahead of a two-match series in Bangladesh, following Jason Gillespie’s departure. Shan Masood will remain captain. The 16-member squad includes four new players, while Umar Gul is set to take charge as bowling coach, signalling a targeted revamp for the tour.
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