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COMEDK UGET 2026 provisional answer key released now on comedk org objection ends May 18

COMEDK UGET 2026 provisional answer key released now on comedk org objection ends May 18

COMEDK has released the COMEDK UGET 2026 provisional answer key at 11:00 AM on comedk.org for the engineering entrance held on May 9. Candidates can log in, download their response sheets, and estimate scores for Physics, Chemistry, and Mathematics. The objection window is open until May 18 at 2 PM, with students required to submit supporting academic documents and pay a processing fee of ₹500 per question via the official portal using candidate login credentials.

Summarised by Beize from a story on The Economic Times on 16 May 2026
KKR face Gujarat Titans in must win IPL 2026 as playoffs slip fast after RCB loss

KKR face Gujarat Titans in must win IPL 2026 as playoffs slip fast after RCB loss

Kolkata Knight Riders host an in-form Gujarat Titans on Saturday at Eden Gardens with their season hanging by a thread after a recent loss to RCB. Sitting on 9 points from 11 games, KKR can mathematically still reach the playoffs, but they face the prospect of missing out for a second straight year. A win sets up a tight qualification web involving other results, with conditions potentially allowing progress even at 13 points if Net Run Rate and competitors cooperate. Kolkata is expected to be hot and cloudy with light rain chances.

Summarised by Beize from a story on Republic on 16 May 2026

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Trump Says US and Nigeria Killed ISIS Second in Command in Targeted Nigeria Operation

Trump Says US and Nigeria Killed ISIS Second in Command in Targeted Nigeria Operation

US President Donald Trump says a targeted operation in Nigeria—carried out by US forces working with Nigerian security personnel—killed Abu-Bilal al-Minuki, described as ISIS’s second-in-command globally. Born in Nigeria’s Borno State and sanctioned by the US in 2023, al-Minuki was reportedly a key regional leader for ISIS’s Lake Chad area, handling operational and financial direction. Trump said ISIS believed it could evade detection, but US intelligence tracking led to his elimination.

Summarised by Beize from a story on Republic on 16 May 2026
Pakistan plans PKR 100 billion defence boost tied to IMF revenues and anti corruption reforms

Pakistan plans PKR 100 billion defence boost tied to IMF revenues and anti corruption reforms

Pakistan is preparing its 2026-27 budget with an IMF-linked reform programme, aiming to lift defence spending by about PKR 100 billion. Defence expenditure is estimated at PKR 2.665 trillion, up from PKR 2.564 trillion this year. The IMF projects federal revenues to climb to PKR 17.144 trillion, over PKR 2 trillion higher than the current year, alongside a 13.5% increase. The plan also includes digitising all federal and provincial payments by June 2027, identifying 10 corruption-prone institutions, and strengthening provincial anti-corruption agencies.

Summarised by Beize from a story on The Economic Times on 16 May 2026
Amit Shah urges synchronized global drug laws and real time intelligence to stop narco terrorism by 2047

Amit Shah urges synchronized global drug laws and real time intelligence to stop narco terrorism by 2047

Union Home Minister Amit Shah used the R N Kao Memorial Lecture to press for a unified global crackdown on narcotics, warning that fragmented international responses let drug cartels exploit legal gaps. Speaking to diplomats from 40-plus countries, he called for synchronized laws, standardized punishments, real-time intelligence sharing, and seamless extradition of transnational kingpins. Shah linked drug trafficking to terrorist funding, organized crime, and lasting harm to human health, saying the world must act before damage becomes irreversible within a decade.

Summarised by Beize from a story on The Economic Times on 16 May 2026
HDFC Bank Leads Massive Q4 FII Selloff as Foreign Investors Exit Indian Stocks Again

HDFC Bank Leads Massive Q4 FII Selloff as Foreign Investors Exit Indian Stocks Again

Foreign institutional investors have accelerated their exit from Indian equities, selling about $53 billion since late 2024 and pushing the MSCI India index down roughly 8% between September 2024 and May 2026. In Q4, HDFC Bank topped the list with foreign investors cutting 47.95 crore shares and selling Rs 41,449 crore, alongside heavy selling in Kotak Mahindra Bank and Bharti Airtel. Despite the pressure from FIIs, domestic institutions have increasingly taken the lead.

Summarised by Beize from a story on The Economic Times on 16 May 2026

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Virat Kohli sets 2027 ODI World Cup condition only if he can add real value

Virat Kohli sets 2027 ODI World Cup condition only if he can add real value

Virat Kohli says he has “nothing left to prove” and will only consider playing the 2027 ODI World Cup if he believes he can contribute meaningfully to India. After retiring from T20Is following the 2024 World Cup and closing his Test career last year, he’s focused solely on ODIs. Kohli played 13 ODIs in 2024, scoring 651 runs, and has already struck three IPL centuries this season. He also bristled at doubts, urging clarity from selectors.

Summarised by Beize from a story on The Economic Times on 16 May 2026
Bhojshala Dhar Devotees Pray After MP HC Declares Complex a Temple and Bars ASI Control Changes

Bhojshala Dhar Devotees Pray After MP HC Declares Complex a Temple and Bars ASI Control Changes

Devotees entered the Bhojshala-Kamal Maula complex in Dhar on Saturday to offer prayers after the Madhya Pradesh High Court’s Indore Bench declared the disputed site a temple and granted Hindus the right to worship. The court recognised the complex as belonging to Raja Bhoj and ruled it was historically dedicated to Goddess Vagdevi, dating to the Bhoj-Parmar dynasty. The ruling modified an earlier ASI order that had allowed Friday namaz for a limited time, while keeping the monument under ASI custody.

Summarised by Beize from a story on Republic on 16 May 2026
TMC leader arrested days before Falta re poll as EC timelines tighten and violence charges surface

TMC leader arrested days before Falta re poll as EC timelines tighten and violence charges surface

With Falta set for re-election on May 21 and results due May 24, West Bengal politics is heating up. Local police arrested Saidul Khan, a Trinamool Congress leader and vice-president of the Falta Panchayat Samiti, linking him to charges of attempted murder and inciting political violence after a Friday night raid. The move comes as the BJP now governs the state after ousting the TMC, and Chief Minister Suvendu Adhikari is scheduled to campaign ahead of the vote.

Summarised by Beize from a story on Republic on 16 May 2026
Lavrov phone joke in Delhi turns viral as buzzing cameraman prompts a comically dark line

Lavrov phone joke in Delhi turns viral as buzzing cameraman prompts a comically dark line

Russian Foreign Minister Sergey Lavrov went viral in Delhi after a repeatedly buzzing phone derailed a press conference and he joked, “If you don’t surrender your phone, they will take out a gun,” prompting laughter. The lighter moment stood out during his stay for talks with PM Narendra Modi and External Affairs Minister S Jaishankar around Ukraine, West Asia, and energy trade. Lavrov also said Russia’s oil shipments to India have increased using openly published trade data ahead of a US waiver expiry.

Summarised by Beize from a story on The Economic Times on 16 May 2026

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Gujarat man arrested for allegedly consenting to landlord rape his wife and 13-year-old daughter over Rs 2000 rent

Gujarat man arrested for allegedly consenting to landlord rape his wife and 13-year-old daughter over Rs 2000 rent

In Gujarat’s Morbi district, a shocking case has surfaced after police said a tenant allegedly consented to his landlord and the landlord’s relative repeatedly raping his wife and his 13-year-old daughter when he fell behind on Rs 2,000 monthly rent. The complaint filed by the victims’ mother and grandmother on May 1 invokes the Bharatiya Nyaya Sanhita and POCSO. Authorities claim assaults occurred at the rented home, the landlord’s residence, and another location in Tankara. The tenant and landlord are arrested, with investigations ongoing.

Summarised by Beize from a story on The Economic Times on 16 May 2026
Dr Reddy’s launches generic Semaglutide in Canada first G7 approval could widen GLP-1 access fast

Dr Reddy’s launches generic Semaglutide in Canada first G7 approval could widen GLP-1 access fast

Dr Reddy’s Laboratories has launched a generic Semaglutide injection in Canada for adults with type 2 diabetes, following Health Canada approval granted on April 28, 2026. The move makes Canada the first G7 nation to authorize Semaglutide, positioning the company among the earliest generics entrants in that market. The launch follows Dr Reddy’s recent introduction in India under the brand name Obeda. Supplied as a sterile prefilled pen, it is offered in 2 mg and 4 mg strengths.

Summarised by Beize from a story on The Economic Times on 16 May 2026
Tata Trusts May 16 board meeting deferred as regulator probes Sir Ratan Tata Trust board composition

Tata Trusts May 16 board meeting deferred as regulator probes Sir Ratan Tata Trust board composition

Tata Trusts’ May 16 board meeting has been deferred after Maharashtra’s Charity Commissioner Amogh S. Kaloti ordered the trusts to wait for an inspector’s report amid governance complaints. The case centers on the composition of Sir Ratan Tata Trust (SRTT) and how new limits under Section 30A(2) of the Maharashtra Public Trusts Act apply to lifetime trustees. Three life trustees at SRTT reportedly exceed the intended ceiling, while Tata Trusts says it is reviewing regulatory directions.

Summarised by Beize from a story on Republic on 16 May 2026
Lucknow University professor booked after viral audio allegedly offers exam papers for a private meeting

Lucknow University professor booked after viral audio allegedly offers exam papers for a private meeting

A Lucknow University assistant professor, Dr Paramjeet Singh of the Zoology department, has been detained after an objectionable audio clip went viral. In the recording, he is alleged to repeatedly urge a female student to meet him and claims he has “two papers” arranged, even after she refuses. The university alerted police, and an FIR was filed at Hasanganj police station following a complaint by the Controller of Examinations. Singh denies allegations, citing internal politics, as ABVP protests demand action.

Summarised by Beize from a story on Republic on 16 May 2026

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Congress tensions in Kerala as Ramesh Chennithala pushes for Home portfolio and berths in new cabinet

Congress tensions in Kerala as Ramesh Chennithala pushes for Home portfolio and berths in new cabinet

Ahead of the UDF government swearing-in in Kerala on Monday, internal Congress tensions are surfacing around cabinet formation. Senior leader Ramesh Chennithala is reportedly unhappy with how negotiations are progressing, pressing for the Home department under CM VD Satheesan and cabinet berths for two MLAs considered close to him. Sources say neither demand has been accepted yet, fueling speculation that Chennithala may opt out of the ministry. The party now must balance factional interests after Satheesan’s CM selection.

Summarised by Beize from a story on Republic on 16 May 2026
SBI and Groww among top FII gainers as foreigners pile into select stocks despite $53b exit

SBI and Groww among top FII gainers as foreigners pile into select stocks despite $53b exit

Foreign institutional investors have withdrawn about $53 billion from Indian equities since late 2024, pressuring many large-cap names even as MSCI India fell roughly 8% from September 2024 to May 2026. Yet in Q4, FIIs increased holdings in several stocks in value terms. State Bank of India led with a Rs 9,319 crore rise in FII holdings during the March 2026 quarter, followed by Power Grid, NTPC, Vedanta and others, including stock broker Billionbrains Garage Ventures and GE Vernova T&D India.

Summarised by Beize from a story on The Economic Times on 16 May 2026
Quant Mid Cap Fund dumps Lenskart NMDC and SBI Cards while quietly betting big on SAIL

Quant Mid Cap Fund dumps Lenskart NMDC and SBI Cards while quietly betting big on SAIL

Quant Mid Cap Fund exited Lenskart Solutions completely in April, along with full exits from NMDC and SBI Cards and Payment Services, according to its monthly disclosure. The Lenskart sale coincided with days of boycott calls after allegations about curbs on religious symbols at stores—later addressed through clarifications and a revised “In-Store Style Guide.” The fund simultaneously added Steel Authority of India, increased exposure to Reliance Industries, and shifted sector allocations toward healthcare and iron and steel.

Summarised by Beize from a story on The Economic Times on 16 May 2026
SEBI lets InvITs borrow beyond 49% debt cap to fund capex and repairs

SEBI lets InvITs borrow beyond 49% debt cap to fund capex and repairs

SEBI has issued new guidelines for Infrastructure Investment Trusts (InvITs), allowing them to take on debt beyond the existing 49% cap relative to the value of their assets. The change opens a fresh funding route for InvITs to finance capital expenditure, upgrades, and repairs across infrastructure projects. While the move could improve liquidity for asset maintenance and growth plans, it also raises fresh questions about leverage levels, risk management, and how investors will weigh the new capital structure.

Summarised by Beize from a story on The Economic Times on 16 May 2026

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Gig workers union demands higher payouts with 5-hour app shutdown over fuel price shock

Gig workers union demands higher payouts with 5-hour app shutdown over fuel price shock

The Gig & Platform Service Workers Union (GIPSWU) has called for a nationwide five-hour shutdown of app-based services today, from 12 PM to 5 PM. The union says rising fuel costs after a roughly ₹3 per litre hike in petrol and diesel will squeeze earnings for lakhs of gig workers, arguing that platform payouts have stayed largely unchanged. It demands a central law, legal protections, and a minimum kilometre-based service rate of ₹20 per km, citing stagnant delivery charges and NITI Aayog estimates of rapid gig-worker growth.

Summarised by Beize from a story on Inc42 on 16 May 2026
WPI jumps to 8.3 percent in April 2026 fuelled by oil shock and metal rally warns Bank of Baroda

WPI jumps to 8.3 percent in April 2026 fuelled by oil shock and metal rally warns Bank of Baroda

India’s Wholesale Price Index accelerated to 8.3% in April 2026, the highest since October 2022, driven mainly by fuel and manufactured goods. Fuel and power inflation surged to 24.7%, led by a steep rise in mineral oils as global crude prices climb amid the US-Iran conflict and Gulf shipping disruptions. Core WPI hit 5%. While food inflation eased to 2.3% due to weak foodgrain and pulses, international food prices are moving up, raising risk of a later rebound.

Summarised by Beize from a story on The Economic Times on 16 May 2026
India’s monthly household basket set to cost more as fuel shock spreads to FMCG essentials

India’s monthly household basket set to cost more as fuel shock spreads to FMCG essentials

Rising fuel costs linked to the West Asia conflict are expected to ripple into India’s packaged foods and household staples. Analysts say higher freight, logistics, and input expenses will squeeze margins for FMCG firms already coping with 8 to 10 percent inflationary pressures. Several companies have begun calibrated price hikes of 2 to 5 percent, while Nestlé India and Hindustan Unilever are reportedly evaluating further increases. If oil volatility persists, firms may also cut “grammage,” hitting consumption recovery—especially in rural markets.

Summarised by Beize from a story on The Economic Times on 16 May 2026
Europe stock markets stumble because they lack the AI and energy resilience investors now demand

Europe stock markets stumble because they lack the AI and energy resilience investors now demand

European stocks are losing momentum as investors pivot from cheap regional equities to the AI trade and worry about a global energy shock. The Stoxx Europe 600 has fallen behind the US and Asia because Europe’s economy is exposed to inflation and supply-chain disruptions from the Middle East conflict, and because its benchmarks contain too little AI-heavy exposure. Even with earnings growth expected, forecasts may be cut as energy hits and higher European borrowing costs threaten growth.

Summarised by Beize from a story on The Economic Times on 16 May 2026
Revanth Reddy demands Modi rollback petrol diesel hike after election results within days over Rs 3

Revanth Reddy demands Modi rollback petrol diesel hike after election results within days over Rs 3

Telangana Chief Minister A Revanth Reddy has demanded the Centre roll back a recent increase in petrol and diesel prices, calling it unjustifiable and damaging to multiple sectors. In an X post, he said the justification tied to the US-Iran war amounts to breaking the backbone of the common man. Reddy claimed the government promised before elections in four states and one Union Territory that prices would not rise, yet increased them by more than Rs 3 within days.

Summarised by Beize from a story on The Economic Times on 16 May 2026
Global bond markets brace for decades of rate pain as Iran linked energy spikes fuel sticky inflation

Global bond markets brace for decades of rate pain as Iran linked energy spikes fuel sticky inflation

Global bond markets are bracing for sharp interest rate pain as investors recalibrate for higher-for-longer rates. Benchmark 10-year U.S. Treasury yields reached their highest level in about a year, shortly after the government sold 30-year bonds at the highest yield since 2007. Traders link the move to sticky inflation and energy shocks tied to the war with Iran, pushing expectations of further central-bank hikes worldwide and pressuring mortgages, lending, stocks, and growth.

Summarised by Beize from a story on The Economic Times on 16 May 2026
Man dies after suspected shark attack near Rottnest Island as white shark sightings spike

Man dies after suspected shark attack near Rottnest Island as white shark sightings spike

A 38-year-old man has died after a suspected shark bite near Rottnest Island, off Western Australia, on Saturday May 16. Police said he was in the water at Horseshoe Reef when the attack occurred around 10am. He was taken by vessel to Geordie Bay, where St John WA paramedics treated him, but he could not be revived. A rescue helicopter was dispatched to evacuate him to the mainland. The ABC also reported a public sighting of a roughly five-meter white shark nearby.

Summarised by Beize from a story on The Economic Times on 16 May 2026
US stocks tumble as crude spike lifts Treasury yields and shocks the AI rally

US stocks tumble as crude spike lifts Treasury yields and shocks the AI rally

US stocks fell sharply on Friday, reversing AI-driven record momentum as crude prices surged and stoked global inflation worries. Benchmark Treasury yields jumped, making bonds more appealing than equities and weighing on risk appetite. The Trump-Xi summit produced little, while US-Iran tensions—after sharp comments—raised doubts about the Strait of Hormuz reopening. Despite the pullback, the S&P 500 notched its seventh straight weekly gain. Incoming Fed chair Kevin Warsh faces mounting pressure amid sticky inflation concerns.

Summarised by Beize from a story on The Economic Times on 16 May 2026
NIA chargesheets Cambodia-linked cyber slavery syndicate, including absconding kingpin Anand Kumar Singh

NIA chargesheets Cambodia-linked cyber slavery syndicate, including absconding kingpin Anand Kumar Singh

The National Investigation Agency has filed a chargesheet against five people, including an absconding alleged mastermind, in a case involving trafficking and cyber slavery of Indian youths in Cambodia. NIA says kingpin Anand Kumar Singh, also known as Munna Singh, recruited victims through agents and travel channels in India and worked with associates in Cambodia. The scheme allegedly “sold” youths to fake companies for USD 2,000–3,000 each, then seized passports, forcing victims into scam-company work while meting out torture.

Summarised by Beize from a story on The Economic Times on 16 May 2026
Europe shares tumble as Iran energy fears spark inflation spiral and rate-hike pricing across sectors

Europe shares tumble as Iran energy fears spark inflation spiral and rate-hike pricing across sectors

European equities slid for the week as STOXX 600 fell 1.5% to 606.92, driven by soaring energy costs tied to US Iran tensions. Analysts warned inflation is starting to bleed into consumer and producer prices, pushing markets toward at least two European Central Bank rate hikes by year end. The bond selloff mirrored the shift. Cyclical sectors and defence led the drop, with banks down 6% and materials off 5.1%, while select semiconductors and firms like Technoprobe bucked the trend.

Summarised by Beize from a story on The Economic Times on 16 May 2026
TCS CEO K Krithivasan earns 28 crore in FY26 as pay ratio hits 332 times median employee

TCS CEO K Krithivasan earns 28 crore in FY26 as pay ratio hits 332 times median employee

Tata Consultancy Services reported that CEO and MD K Krithivasan earned over Rs 28 crore in FY26, up 6.3% year-on-year. The pay includes Rs 167.6 lakh salary, Rs 143.7 lakh benefits and allowances, and a large Rs 25 crore commission. His remuneration works out to 332.8 times the median employee pay. TCS also disclosed COO Aarthi Subramanian’s commission-based pay and CFO Samir Seksaria’s increased compensation, alongside Rs 1,388 crore restructuring expenses for “future-ready” transformation.

Summarised by Beize from a story on The Economic Times on 16 May 2026
West Bengal launches re-verification of caste certificates issued since 2011 after authenticity doubts

West Bengal launches re-verification of caste certificates issued since 2011 after authenticity doubts

West Bengal has ordered district administrations to re-verify caste certificates issued since 2011, including those distributed through the Duare Sarkar outreach camps. The backward classes welfare department’s directive covers about 1.69 crore certificates over 15 years: roughly 1 crore for Scheduled Castes, 21 lakh for Scheduled Tribes, and 48 lakh for Other Backward Classes. Authorities say doubts have emerged over the authenticity of some certificates and warn of strict penalties for improper issuance. The state is also re-scrutinizing certificates tied to names removed from electoral rolls during the recent SIR exercise.

Summarised by Beize from a story on The Economic Times on 16 May 2026
Jayant Patil slams Maharashtra govt for sidelining distressed farmers while funding needless projects

Jayant Patil slams Maharashtra govt for sidelining distressed farmers while funding needless projects

Senior NCP (SP) leader Jayant Patil accused the Maharashtra government of telling farmers it lacks funds while continuing “unnecessary” projects. He said pending farmer demands remain stalled despite the state’s mounting debt. Patil raised alarm for Konkan mango, cashew, and onion growers who are facing unseasonal rain and market prices below the Minimum Support Price, leaving them struggling to secure fair returns. His remarks followed police detentions during a Mumbai protest demanding action on farmers’ issues.

Summarised by Beize from a story on The Economic Times on 16 May 2026
NTET 2026 Results Declared by NTA Here Is How to Download Scorecard and Check Marks

NTET 2026 Results Declared by NTA Here Is How to Download Scorecard and Check Marks

The National Testing Agency has declared NTET 2026 results for postgraduate candidates in Indian System of Medicine and Homoeopathy. The exam was held on April 28, 2026 in computer-based mode in English and Hindi. Of 9,368 registered candidates, 9,051 appeared. Scorecards can now be downloaded from the official NTA NTET portal using the application number and login credentials. The results have been forwarded to NCISM and NCH, and candidates should monitor updates for admissions and recruitment.

Summarised by Beize from a story on The Economic Times on 16 May 2026
Crude oil jumps 8% in a week near 110 as Iran talks sour and Hormuz reopening hopes fade

Crude oil jumps 8% in a week near 110 as Iran talks sour and Hormuz reopening hopes fade

Crude oil surged nearly 8% over the week, pushing Brent to $109.26 and WTI to $105.42, as renewed U.S. and Iran rhetoric dimmed hopes for a quick deal on ship attacks near the Strait of Hormuz. While a ceasefire remains, expectations for rapid reopening have weakened, raising fears of longer disruptions to oil and LNG flows through a route carrying nearly one-fifth of global supplies. Analysts warn pricing could stay volatile if Hormuz closure drags into June or beyond.

Summarised by Beize from a story on The Economic Times on 16 May 2026
UAE gifts Cerebras AI superchip to Modi unveiling Condor Galaxy India compute cluster

UAE gifts Cerebras AI superchip to Modi unveiling Condor Galaxy India compute cluster

After hosting BRICS foreign ministers in New Delhi, Prime Minister Narendra Modi flew to the UAE, where President Sheikh Mohamed bin Zayed Al Nahyan presented him a Cerebras AI chip. The gift formalises Condor Galaxy India, an 8-exaflop supercomputing partnership backed by G42 and C-DAC. Sixty-four Cerebras CS-3 systems will power a major AI compute cluster in India, aiming to bring sovereign training capacity onshore, cut reliance on foreign clouds, and give startups and researchers frontier-scale access.

Summarised by Beize from a story on Inc42 on 16 May 2026
PGIM India restarts subscriptions in 3 international funds again as Rs 2 lakh daily limit returns

PGIM India restarts subscriptions in 3 international funds again as Rs 2 lakh daily limit returns

PGIM India Mutual Fund has reopened subscriptions for three international fund-of-funds—Global Equity Opportunities, Emerging Markets Equity, and Global Select Real Estate Securities—with effect from May 18. The decision follows a temporary subscription restriction imposed on March 10 to prevent breaching overseas investment limits. Investors can again place fresh SIPs or STPs up to Rs 2 lakh per day per investor per scheme, at primary holder PAN level. Existing terms remain unchanged, and installments continue as previously scheduled.

Summarised by Beize from a story on The Economic Times on 16 May 2026
Sugar Week sparks hopes and fears as El Niño and Petrobras policy swing Brazil fuel demand

Sugar Week sparks hopes and fears as El Niño and Petrobras policy swing Brazil fuel demand

New York Sugar Week ended amid near five-year lows, but traders are watching two volatile levers: Brazilian fuel economics and El Niño’s potential hit to India’s cane. With Brazil’s large crops already pressuring raw sugar, mills may shift cane toward gasoline-related ethanol, depending on the “sugar mix.” Estimates range as low as 45% versus last year’s 50.4%. Petrobras has held gasoline prices steady despite broader gains, affecting ethanol demand. Separately, El Niño-driven dryness could influence India output, at a time when exports are already curtailed and restrictions are debated for 2026-27.

Summarised by Beize from a story on The Economic Times on 16 May 2026
Gold slips to a one week low as dollar and yields surge on Middle East inflation fears

Gold slips to a one week low as dollar and yields surge on Middle East inflation fears

Gold fell to a more than one-week low on Friday, pressured by rising U.S. Treasury yields and a firmer dollar, which increase the opportunity cost of non-yielding bullion. The sell-off deepened as Middle East conflict sparked inflation concerns, lifting expectations for higher interest rates. Spot gold slid 2.6% to $4,527.80 per ounce, its lowest since May 5. Other precious metals also tumbled, with silver down 8.7% and on track for its worst day since March 3.

Summarised by Beize from a story on The Economic Times on 16 May 2026
Samsung faces an 18-day strike over AI chip bonuses that could reshape global supply chains

Samsung faces an 18-day strike over AI chip bonuses that could reshape global supply chains

Samsung Electronics is bracing for an 18-day strike by more than 45,000 workers starting May 21, a move that could disrupt memory chip output vital for AI data centers and consumer devices. The dispute centers on bonus pay: Samsung wants memory employees (about 27,000) to receive at least six times more than staff in its logic chip design and manufacturing units. Union leaders warn the gap will drive talent away, weaken foundry operations, and threaten Samsung’s push to be a one-stop semiconductor supplier worldwide.

Summarised by Beize from a story on Republic on 16 May 2026
Indian-origin San Jose obstetrician probed by US Congress in alleged birth tourism visa schemes

Indian-origin San Jose obstetrician probed by US Congress in alleged birth tourism visa schemes

A California obstetrician of Indian origin, Dr. Athiya Javid of San Jose, has drawn scrutiny after a US House Committee inquiry into alleged “birth tourism” businesses. Lawmakers say foreign patients used maternity services to secure automatic citizenship for children by traveling on temporary visas, and accuse some clinics of offering support beyond healthcare such as housing help and legal consultations. Investigators are requesting records dating to January 2020, including ads, contracts, visa coaching materials, and revenue figures. The move renews debate over immigration and birthright citizenship.

Summarised by Beize from a story on The Economic Times on 16 May 2026
Oil shock could widen India deficit and lift inflation as US Iran war drags on expert warns

Oil shock could widen India deficit and lift inflation as US Iran war drags on expert warns

As the US-Iran conflict shows no signs of ending, former UN Economic Advisor Santosh Mehrotra warns India faces a fresh oil-driven spiral. He says every USD 10 rise in global oil can widen India’s current account deficit by about 0.3% of GDP and similarly lift CPI. With GDP and CPI revisions already reflecting the “current situation,” he fears prolonged war effects. He points to Strait of Hormuz disruptions, tighter LPG supply hurting restaurants and ceramics, and a diesel hike that could further spread inflation to consumers.

Summarised by Beize from a story on The Economic Times on 16 May 2026
UAE flatly denies Iran claims of direct aggression role while citing thousands of intercepted Iranian projectiles

UAE flatly denies Iran claims of direct aggression role while citing thousands of intercepted Iranian projectiles

At the BRICS Foreign Ministers’ Meeting in New Delhi, the UAE rejected Iran’s accusations that Abu Dhabi was directly involved in aggression against Tehran during the West Asia conflict. UAE Minister of State Khalifa Shaheen Al Marar said the claims will not affect its “principled positions” or sovereign decision-making, while the UAE accused Iran of repeated strikes on Emirati infrastructure. Abu Dhabi also cited near 3,000 intercepted ballistic missiles, cruise missiles and drones, and warned against actions that it says obstruct maritime routes and target civilian facilities.

Summarised by Beize from a story on The Economic Times on 16 May 2026
Trump’s coercive Iran pressure stalls because his demands require humiliating defeat from Tehran

Trump’s coercive Iran pressure stalls because his demands require humiliating defeat from Tehran

President Donald Trump’s coercive diplomacy toward Iran is struggling to bring talks to the negotiating table, analysts say, because his approach demands an “absolute victory” narrative that would require Tehran to concede total defeat. With Iran focused on saving face domestically and maintaining leverage through the Strait of Hormuz, both sides remain deadlocked despite strikes that degraded Iran’s military capabilities. The standoff also reverberates globally via energy supply shocks, while Trump faces domestic blowback tied to gasoline prices and low approval ratings.

Summarised by Beize from a story on The Economic Times on 16 May 2026
Maharashtra mother abandoned with toddler now drives auto daily to afford an English medium education dream

Maharashtra mother abandoned with toddler now drives auto daily to afford an English medium education dream

Komal Gaikwad of Parbhani was forced into a life-changing pivot after financial hardship blocked college and her husband left her alone when her daughter Teju was just 18 months old. With childcare impossible, she rented an auto and began driving it herself, adjusting the vehicle so her toddler could stay comfortable beside her. Earning Rs 400 to Rs 500 a day, she saved relentlessly and bought her own rickshaw on EMI. A viral video amplified her story, as her ultimate goal remains Teju’s English-medium schooling.

Summarised by Beize from a story on The Economic Times on 16 May 2026
Nabard cancels ₹7000 crore bond sale as bids stall at ₹3030 crore

Nabard cancels ₹7000 crore bond sale as bids stall at ₹3030 crore

Nabard has withdrawn a planned three-year bond sale scheduled for Friday, citing weak investor demand that would have forced higher borrowing costs. The lender targeted ₹7,000 crore, including a ₹5,000 crore greenshoe option, but received bids worth only about ₹3,030 crore. Dealers estimate yields could have been about 7.79% for the base amount and as high as 8.04% if all bids were accepted. Since few expected Nabard to accept 8%, bidding stopped around ₹3,000 crore.

Summarised by Beize from a story on The Economic Times on 16 May 2026
Maritime drivers face higher gas bills this long weekend as Nova Scotia PEI and New Brunswick rates jump

Maritime drivers face higher gas bills this long weekend as Nova Scotia PEI and New Brunswick rates jump

Ahead of the long weekend, drivers in Canada’s Maritime provinces are set to pay more at the pumps as gasoline and diesel prices rise in Nova Scotia, Prince Edward Island and New Brunswick. Halifax-area regular self-serve gasoline moved up to 196.2 cents per litre, while Nova Scotia diesel rose to 216.1 cents. PEI gasoline and diesel also increased, and in New Brunswick both fuel types climbed, pushing a seafood vendor’s weekly gas budget from about $150 to roughly $200.

Summarised by Beize from a story on The Economic Times on 16 May 2026
Rajasthan becomes chip hub as Sahasra Semiconductor starts packing in Bhiwadi with 400 crore push

Rajasthan becomes chip hub as Sahasra Semiconductor starts packing in Bhiwadi with 400 crore push

Union Minister Ashwini Vaishnaw virtually laid the foundation stone for the Sahasra Semiconductor facility in Bhiwadi, Rajasthan—an SME-led ATMP/OSAT chip packaging plant worth over ₹400 crore. The 57,000 sq. ft. site will start at about 60 million units annually and aims for 400–600 million units within 2–3 years. Built with Class 10K and 100K cleanrooms, it already ships more than 60% of output abroad while supporting India’s push to deepen semiconductor capabilities.

Summarised by Beize from a story on IndianWeb2 on 16 May 2026
New York LIRR strike halts busiest commuter rail, leaving 250000 riders scrambling for backups

New York LIRR strike halts busiest commuter rail, leaving 250000 riders scrambling for backups

A strike by Long Island Rail Road workers has paralyzed New York’s busiest commuter rail system after contract talks with the MTA ended without an agreement. About half of the roughly 7,000 workers—across five unions—walked out at 12:01 a.m. Saturday. Around 250,000 weekday riders must find alternative routes or work from home, with highways expected to worsen. The dispute centers on pay: unions want 16% over four years, while the MTA is offering at least 9.5% over three years plus an effective 4.5% in year four.

Summarised by Beize from a story on The Economic Times on 16 May 2026
Haryana greenlights CBI probe into five IAS officers in 590 crore IDFC First Bank fraud case

Haryana greenlights CBI probe into five IAS officers in 590 crore IDFC First Bank fraud case

Haryana has authorized the CBI to investigate the alleged role of five IAS officers in a Rs 590-crore IDFC First Bank fraud case. The approval, granted under Section 17A of the Prevention of Corruption Act, enables the agency to question the officers after earlier legal barriers. The probe follows claims that government funds were diverted through fraudulent approvals into private banks like IDFC First Bank and AU Small Finance Bank. CBI searches in Chandigarh and Panchkula led to seizures of financial records and digital evidence. Sixteen people have been arrested so far.

Summarised by Beize from a story on The Economic Times on 16 May 2026
Rupee crosses 96 per dollar for first time then snaps back after RBI intervention as oil soars

Rupee crosses 96 per dollar for first time then snaps back after RBI intervention as oil soars

The Indian rupee breached 96 per US dollar for the first time as crude prices neared $110 a barrel, then recovered to close at 95.96 after RBI intervention late in the session. Analysts link the fall to persistent external pressure from the Russia Ukraine and West Asia conflict-driven energy costs and a widening need for long-term dollar inflows. Policymakers are discussing measures to attract direct FX, including step-by-step actions over the next 2-3 months, plus recent import duty hikes on bullion.

Summarised by Beize from a story on The Economic Times on 16 May 2026
Nvidia and Walmart earnings may decide Wall Street direction as AI cheers and inflation tests consumers

Nvidia and Walmart earnings may decide Wall Street direction as AI cheers and inflation tests consumers

Wall Street is coming off another leg higher, but investors say next week’s earnings could test whether the rally is broad or fragile. Nvidia reports Wednesday, with its AI-driven surge watched as a read on data-center demand and whether rivals are eroding its lead. On Thursday, Walmart and other retailers including Home Depot, Target and TJX will reveal how inflation-pressured consumers are coping, after rising energy costs and hot price data. Analysts call retail resilience the key.

Summarised by Beize from a story on The Economic Times on 16 May 2026
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