Category: Business

Is Your Manicure Safe? Banned Chemical Raises Health Concerns

Staff ReporterBusiness, Health 0

The European Union’s ban on a chemical used in gel manicures raises safety concerns for American consumers as beauty brands seek alternative formulations.

Gel manicures have become a popular choice for millions of consumers, offering long-lasting wear without chips and maintaining a glossy finish through various activities. However, as of September 1, 2025, the European Union (EU) will prohibit the use of a specific chemical in many gel polishes, raising safety questions and uncertainty for nail salons.

The chemical in question is Trimethylbenzoyl Diphenylphosphine Oxide (TPO). This compound is essential for the quick hardening of gel polish under UV light, providing the signature glass-like finish that many users enjoy. The EU’s decision to ban TPO is largely influenced by several studies that have linked exposure to this chemical with potential fertility issues. While these studies primarily focused on animal subjects rather than humans, the EU adopts a precautionary principle when it comes to cosmetic safety.

As a result of this reclassification, TPO has been designated as a Category 1B CMR substance, indicating that it may pose cancer or reproductive risks. Under EU regulations, this classification has triggered an automatic ban on both the marketing and use of cosmetic products containing TPO, which includes professional applications in nail salons.

The distinction between gel and regular nail polish lies not only in their appearance but also in their application processes. According to the Cleveland Clinic, while regular nail polish dries naturally, gel polish requires a specialized UV or LED lamp for quick drying, typically within 60 to 90 seconds. These lamps, while effective for setting gel manicures, emit ultraviolet rays that have been associated with skin cancer and premature aging.

Despite these concerns, studies examining the link between nail salon lamps and cancer have shown inconclusive results. Nevertheless, the EU’s ban mandates that salons must cease the use of products containing TPO immediately, even if they have existing stock. Technically, any old bottles of polish containing TPO will no longer be legal for use in the EU after the deadline.

While the ban currently applies only within the EU, it has sparked discussions about the safety of gel manicures in other regions, including the United States. The good news for consumers is that gel nails are not disappearing from the market. Beauty brands are already reformulating their products to replace TPO with alternative ingredients such as TPO-L, BAPO, and methyl benzoylformate, ensuring that customers can continue to enjoy gel manicures without the associated risks of the banned chemical.

As the beauty industry adapts to these changes, consumers are encouraged to stay informed about the ingredients in their nail products and the potential health implications. The conversation surrounding cosmetic safety continues to evolve, highlighting the importance of regulatory measures in protecting public health.

Source: Original article

Devika Jadhav: Indian-American Designer Merges Cultural Influences in Fashion

Staff ReporterBusiness, Culture, Fashion 0

Devika Jadhav’s fashion brand Amaya merges Indian textile traditions with Western design, promoting sustainability and artisan recognition from her New York City apartment.

In the fast-paced world of New York City fashion, where trends can change overnight, Devika Jadhav stands out with her brand, Amaya. Operating from her modest 900-square-foot apartment, Jadhav manages every aspect of her business—from design to production and marketing. Her mission is ambitious: to blend Indian textile traditions with Western silhouettes while advocating for natural fabrics and the artisans who create them.

“I really wanted to pick up these two very strong pieces of my own identity, which was the East and the West, and come up with a sort of dialogue between the two,” Jadhav explains. “What I’m doing is using the arts and crafts of India and mixing them with Western silhouette design aesthetics. That’s how Amaya was born.”

Jadhav’s journey began in Nimgaon Jali, a small village near Nasik, India, which is difficult to access due to its lack of railway connections. “We moved to Mumbai when I was very young, but I’d go back every vacation. It’s still a part of me,” she reflects.

Her frequent visits to Nimgaon Jali, combined with a childhood spent among fashion enthusiasts, greatly influenced her aesthetic sensibility. “My mom and my aunts were all saree connoisseurs. Discussions about Indian textiles and arts and crafts from across India were very common in our house. That helped me grow an appreciation for the variety of arts and crafts that exist in India,” she says. “We have such a rich textile history.”

Jadhav’s fascination with textiles led her to study at the London College of Fashion, where she began to notice a disconnect between the fashion industry and the craftsmanship she had grown up admiring. “There are these two huge powerhouses of fashion—East and West—but they don’t really communicate. The only communication between these two worlds is very transactional. When it comes to manufacturing, there’s no sharing of ideas or sharing of crafts,” she notes.

This realization became the conceptual foundation of her womenswear label. The name Amaya, which means “free from illusion” in Sanskrit, “night rain” in Japanese, “the end” in Basque, “high place” in Arabic, and “God’s promise” in Hebrew, reflects her vision for the brand.

The pivotal moment for Jadhav came in 2023 when she relocated to the United States. As a consumer, she found herself frustrated by the scarcity of fully natural fabrics. After surveying over 250 people and researching available materials, she identified a significant gap in the market.

<p“A lot of the brands would have a cotton outer shell, but the lining that they would use would be synthetic, so it defeats the purpose. Or they would have blends, like a little bit of cotton with polyester. So there was always some compromise,” she explains.

Determined to address this issue, Jadhav conducted extensive research into fabric quality and established partnerships with Indian artisans. In Jaipur, she collaborated with artisans to develop unique embroidery and block printing techniques. This collaboration also involved artistic reinterpretations of ancient designs, such as 16th-century chintz prints and Mughal motifs. “We hand-painted it, created some beautiful sets of prints that we then made into digital prints,” she shares. “They’re all India-inspired, and they all have a very special story that has made it a lot more magical.”

Amaya’s production process is rooted in sustainability and ethical labor practices. Each piece is produced in small batches—typically just 15 per style—to minimize waste and overstock. For instance, jackets may require 25 to 30 hours of intricate hand-crafted embroidery, with artisans employing multi-generational techniques to create 3D flowers or pearl embellishments. Jadhav emphasizes the importance of fair treatment for artisans: “It’s not enough just to give credit where it’s due. We need to make sure that our artisans are taken care of… We’re not overworking them. We’re making sure they’re well taken care of in terms of the amount of money that they are making.”

For Jadhav, the artisans are the unsung heroes of the fashion industry who often go unrecognized. She cites the recent controversy involving Kolhapuri chappals and a luxury brand as an example of the need for greater acknowledgment of traditional craftsmanship. “They deserve so much recognition for the amount of hard work and skill that they have been practicing for generations,” she asserts.

Jadhav is equally committed to Amaya’s cultural mission. “Nothing makes me happier than speaking to a consumer, talking about block prints, or discussing our arts and crafts, and spreading awareness about the value behind our work,” she says. “Hopefully, [the pieces] will last for a much longer period of time in their wardrobe, rather than being discarded.”

This authenticity is central to her brand narrative. “We already have such a rich history and culture; why not show it off? Why not talk about it?” she asks.

Sustainability is another guiding principle for Jadhav, though she acknowledges the challenges involved. “I would say Amaya is a work in progress and working towards it,” she admits. As a small brand with limited resources, achieving sustainability can be costly. Nevertheless, Amaya implements a zero-waste policy by donating scraps for recycling, shipping orders plastic-free (except for garment wrapping, for which Jadhav is exploring alternatives), and favoring fabric-covered buttons. She envisions a future where she can track everything from pesticide use in cotton farming to transportation emissions in deliveries.

Looking ahead, Amaya is expanding through online sales, New York pop-ups, and an upcoming launch on the brand discovery platform ShopShops. Jadhav’s long-term vision is clear: to create a thriving, collaborative space where East and West coexist in every stitch, and where Indian artisans are recognized, valued, and celebrated on the global stage.

“The world is ready to hear our stories. The world is ready to accept us,” she concludes.

Source: Original article

IMF Loans and Chinese Shipyards Contribute to Pakistan’s Growing Debt Crisis

Staff ReporterBusiness, Economy 0

Pakistan’s escalating debt crisis is exacerbated by loans from the IMF and China, with funds primarily benefiting Chinese shipyards while citizens endure inflation and austerity measures.

Pakistan’s economic landscape in 2025 presents a complex narrative marked by soaring debt, dwindling foreign reserves, and a reliance on loans from the International Monetary Fund (IMF) and China. However, political analysts and sources within the defense establishment suggest that the primary beneficiaries of this precarious financial situation may not be the nation’s struggling populace, but rather Chinese shipyards and original equipment manufacturers (OEMs).

According to the Economic Survey 2024-25, presented by Finance Minister Muhammad Aurangzeb, Pakistan’s debt has surged to an astonishing Rs 76,000 billion within the first nine months of the fiscal year. While the cash-strapped economy is projected to grow at a modest rate of 2.7% by June 2025, this glimmer of hope is overshadowed by a troubling reality: a significant portion of borrowed funds is being directed out of the country to finance Chinese-built warships, submarines, and defense technology.

The IMF’s involvement has been characterized as a double-edged sword. In May 2025, the organization approved a $1 billion disbursement as part of a larger $7 billion, 37-month program aimed at stabilizing Pakistan’s dwindling foreign exchange reserves and preventing a default on its $90 billion debt. While the IMF’s conditions—including fiscal reforms, social spending floors, and austerity measures—are viewed as steps toward economic discipline, experts caution that these measures offer only a temporary fix. A senior economic analyst, speaking on condition of anonymity, remarked, “The IMF loans plug immediate fiscal holes but do little to address structural imbalances. Pakistan remains trapped in a cycle of borrowing to repay borrowing.”

Compounding the issue, a substantial portion of these funds, along with rolled-over Chinese loans, is funneled directly to Chinese shipyards for high-profile defense contracts, including frigates, submarines, and technology transfers. A source within the defense establishment noted, “This is less about Pakistan’s security and more about boosting China’s industrial revenues,” highlighting the implications of Beijing’s Belt and Road Initiative (BRI). While these military projects may enhance prestige, ordinary citizens are left grappling with rising inflation and increased utility costs.

Pakistan’s debt to China now exceeds obligations to any other creditor, with many loans carrying high interest rates and short repayment periods. A political analyst pointed out, “Unlike concessional loans, Chinese financing for energy projects and defense purchases comes with strings attached.” As debt servicing consumes a significant portion of Pakistan’s fiscal resources, little remains for public investment. Even the much-lauded rollovers from China merely postpone the inevitable, adding interest without reducing the principal.

Behind closed doors, assessments reveal that Chinese OEMs and shipyards are enjoying substantial profits, while Pakistan’s economy continues to struggle. A former finance ministry official remarked, “The irony is that Pakistan pays for infrastructure and defense capabilities it can’t fully utilize. The benefits accrue to foreign contractors, not the public.”

The economic outlook for the average Pakistani remains grim. Inflation has driven up the prices of essential goods such as eggs, chicken, sugar, and dairy, significantly straining household budgets. A Karachi-based economist observed, “The government’s focus on military contracts with China seems disconnected from ground realities. Citizens bear the brunt of lender-imposed tariffs and austerity, while foreign shipyards cash in.”

Critics contend that Pakistan’s dependence on external financing supports fiscal and military ambitions but fails to foster broad-based economic growth. A policy expert from Lahore quipped, “The IMF and Chinese loans are a lifeline, but they’re also a noose. The question is whether Pakistan can break free from this debt trap before it chokes the economy.”

As Pakistan navigates this precarious path, voices from within the security establishment defend the emphasis on defense spending, citing regional threats. However, analysts caution that prioritizing expensive military projects over domestic welfare could lead to long-term instability. A source from a defense think tank stated, “The government must balance strategic needs with economic realities. Otherwise, the real cost will be borne by Pakistan’s people, not its creditors.”

With Chinese shipyards thriving and IMF conditions tightening, the future of Pakistan’s economy hangs in the balance. The pressing question reverberating through policy circles is clear: who truly benefits in this high-stakes game of loans and military contracts?

Source: Original article

Indian-American Authors Set to Shine at Jaipur Literature Festival USA 2025

Staff ReporterBusiness, Culture, USA 0

In September 2025, the Jaipur Literature Festival USA will embark on a five-city tour, featuring prominent authors and cultural figures from around the globe.

The Jaipur Literature Festival (JLF) USA is set to return this September with an exciting five-city tour across the United States. This year’s festival will showcase a diverse array of literary and artistic luminaries, including renowned figures such as Shekhar Kapur, Chitra Banerjee Divakaruni, Siddhartha Mukherjee, Kiran Desai, and William Dalrymple, among others.

Presented by Teamwork Arts, the producer of the annual Jaipur Literature Festival and JLF International Festivals, JLF USA will take place from September 5 to September 27, 2025. The festival will kick off in Houston, Texas, and will subsequently travel to New York, Boulder, Colorado, Seattle, and North Carolina.

For over a decade, JLF USA has been a significant part of Teamwork Arts’ international offerings. Following successful editions in Valladolid, Spain, and London in June 2025, the festival is poised to create more connections through literature and dialogue during its U.S. journey. Each edition serves as a platform for powerful conversations, robust discourse, and cultural dialogue, featuring writers, thinkers, historians, scientists, and artists from around the world.

This year’s festival will delve into a variety of themes, including diasporic identities, migration and displacement, gender issues, democracy, medicine, film adaptations, memoir writing, and sacred verse. Key speakers will include Shekhar Kapur, Amish, Chitra Banerjee Divakaruni, Siddhartha Mukherjee, Sonora Jha, Arundhathi Subramaniam, Kiran Desai, Prajakta Koli, William Dalrymple, Kal Penn, Neal Katyal, Meenakshi Ahamed, Ruby Lal, Vikram Vij, and Maneet Chauhan.

“JLF USA platforms voices from across the world and champions their coming together to celebrate the written word, explore innovative ideas, and uphold the spirit of dialogue, diversity, and shared understanding,” said Sanjoy K. Roy, Managing Director of Teamwork Arts.

The festival is celebrated for its open and welcoming atmosphere, fostering a deep sense of community while showcasing South Asia’s unique multilingual literary traditions. Each city in the tour promises an immersive experience, featuring powerful sessions, eclectic performances, and engaging conversations that resonate with attendees.

JLF USA provides unparalleled exposure to some of the world’s leading professionals, thinkers, authors, nation-builders, business leaders, distinguished professors from prestigious universities, and senior research students. Typically, around 80 percent of the festival’s attendees are aged between 30 and 60 years and are based in the United States.

This year’s festival is being held in association with the Consulate General of India in Houston, New York, and Seattle, as well as the City of Boulder in Colorado. JLF North Carolina is supported by the University of North Carolina’s Carolina Asia Center, the Modern Indian Studies Initiative, the College of Arts and Sciences, Carolina Performing Arts, and other public and private partners across the state.

The festival will take place in various locations across the five cities:

In Houston, the festival will run from September 5 to 7, 2025, at notable venues such as the Asia Society Center, Rothko Chapel, Eternal Gandhi Museum, and the Museum of Fine Arts, Houston, in collaboration with the local literary arts nonprofit, Inprint.

New York will host the festival from September 8 to 10, 2025, at the Asia Society, the National Arts Club, and the Center for Fiction.

Boulder, Colorado, will welcome the festival on September 13 and 14, 2025, at the Boulder Public Library.

Seattle will host its edition from September 19 to 21, 2025, at the Seattle Asian Art Museum and Town Hall Seattle.

Finally, North Carolina will conclude the festival with events on September 26, 27, and 28, 2025, at the University of North Carolina, supported by the Carolina Asia Center.

As the festival approaches, anticipation builds for what promises to be an enriching celebration of literature, culture, and community.

Source: Original article

Elite Americans Spend on ‘Boat-Tox’ and On-Demand Personal Care Services

Staff ReporterBusiness, Fashion, Health 0

Wealthy clients are embracing a new trend called “boat-tox,” which offers on-demand Botox and personal care services aboard yachts and private boats.

A novel trend in personal care is emerging, catering to those with the means to indulge in luxury services. Dubbed “boat-tox,” this service allows affluent clients to receive Botox injections and other cosmetic treatments directly on their yachts or private boats.

Dr. Alexander Golberg, a New York-based expert in functional and aesthetic medicine, explained to Fox News Digital that “boat-tox” is part of a broader concierge aesthetic movement. He described it as “luxury care that meets patients wherever they are.” For individuals planning a day on the water with friends, fitting in a Botox treatment has never been easier.

Dr. Golberg founded “Dr. Hamptons,” a service that brings aesthetic treatments directly to clients’ homes. His clientele includes celebrities, CEOs, frequent travelers, and younger professionals seeking convenience and exclusivity. In addition to Botox, the service offers lip enhancements, IV therapy, and wellness drips.

The rise of on-demand medical and cosmetic services can be traced back to the COVID-19 pandemic, during which many medical offices were closed. “People still wanted to look good and feel their best,” Golberg noted.

Members of this concierge service pay an annual fee for access to house and yacht calls, with the assurance that each visit is handled with complete discretion. Sheila Nazarian, a board-certified plastic surgeon from California and star of Netflix’s “Skin Decision: Before and After,” emphasized the exclusivity of house-call services. “Pricing reflects the VIP nature of the service,” she stated. “Patients are paying not just for a treatment, but for the privacy, the house-call exclusivity, and the peace of mind of having an expert show up wherever they are.”

For Nazarian, this could mean administering treatments in a penthouse, on a private jet, or even on the deck of a yacht. However, she cautioned that providing injectables in such settings requires careful consideration of factors like lighting, sterility, and the movement of the vessel.

Dr. Golberg added that injections are only performed when the boat is docked and anchored, ensuring that patients receive the same level of safety and precision as they would in a clinical environment. He stressed that only highly experienced providers should undertake these procedures, as complications—though rare—can be more challenging to address outside of a clinical setting.

As the demand for personalized and luxurious self-care options continues to grow, “boat-tox” represents a unique intersection of convenience and exclusivity in the world of cosmetic treatments.

Source: Original article

Groww Secures SEBI Approval for IPO, Aiming to Raise Up to $1 Billion

Staff ReporterBusiness, Finance/Economy 0

Groww, the Bengaluru-based investment platform, has received approval from Sebi to launch its IPO, aiming to raise between USD 700 million and USD 1 billion.

New Delhi: Billionbrains Garage Ventures, the parent company of the stock broking firm Groww, has secured approval from the Securities and Exchange Board of India (Sebi) to launch its initial public offering (IPO). The company aims to raise between USD 700 million and USD 1 billion, according to industry sources familiar with the development.

This approval marks a significant step for Groww, positioning it for one of the largest fintech listings in India. The proposed IPO will consist of a combination of a fresh issue of equity shares and an offer for sale (OFS) component.

In May, Billionbrains Garage Ventures filed a draft red herring prospectus (DRHP) with Sebi through a confidential pre-filing route. This approach allows companies to keep IPO details private until later stages, a strategy that is gaining popularity among Indian firms seeking flexibility in their IPO plans.

Backed by prominent investors such as Peak XV, Tiger Capital, and Microsoft CEO Satya Nadella, Groww plans to utilize the proceeds from the IPO for technology development and business expansion. This funding will help the company enhance its platform and services to better serve its growing client base.

Founded in 2016, Groww has rapidly established itself as India’s largest stock broker, boasting over 12.3 million active clients and holding more than 26 percent of the market share as of August 2025. The company has demonstrated impressive financial performance, reporting revenues of Rs 4,056 crore and a profit after tax of Rs 1,818 crore for the fiscal year 2025, according to filings with the Registrar of Companies (ROC).

Recently, Groww also completed a USD 200 million funding round, achieving a valuation of USD 7 billion. This round saw participation from Singapore’s sovereign wealth fund GIC and existing investor Iconiq Capital, further solidifying Groww’s financial standing in the competitive fintech landscape.

As Groww prepares to move forward with its IPO, it has appointed several financial institutions to manage the offering. These include JP Morgan India Private Ltd, Kotak Mahindra Capital Company Ltd, Citigroup Global Markets Private Ltd, Axis Capital Ltd, and Motilal Oswal Securities Ltd.

With the approval from Sebi, Groww is poised to file its updated DRHP publicly in the coming weeks, marking an exciting new chapter for the company and its stakeholders.

Source: Original article

Kashmir’s Apple Industry Faces Challenges Due to Highway Closures

Staff ReporterBusiness, Environment, Nation 0

The prolonged closure of the Jammu-Srinagar National Highway has left Kashmir’s apple growers facing significant losses during the peak harvest season due to adverse weather conditions.

Srinagar: The Jammu-Srinagar National Highway (NH-44) has been closed for six consecutive days, primarily due to relentless rainfall and multiple landslides affecting the Ramban and Sarmoli areas. This extended closure has severely disrupted the transportation of apples during the critical harvest season, leaving hundreds of fruit-laden trucks stranded and causing considerable distress among local growers.

The horticulture sector, a crucial part of Kashmir’s economy, is experiencing substantial losses as the blockade hampers the supply chain. Growers are increasingly concerned about the potential spoilage of their perishable produce and are urging authorities to prioritize the movement of apple trucks to mitigate further damage.

Efforts are underway to clear the highway and restore connectivity, but continuous adverse weather conditions complicate these restoration efforts. The situation highlights the vulnerability of the region’s infrastructure to natural calamities and underscores the urgent need for resilient logistical solutions to support the agricultural community.

The India Meteorological Department (IMD) has forecasted continued rainfall across Jammu and Kashmir until September 5, prompting authorities to place all relevant agencies on high alert. In response to the situation, teams from the State Disaster Response Force (SDRF), National Disaster Response Force (NDRF), and the Indian Army have been deployed to address any emergencies that may arise. These agencies are on standby to assist residents in flood-prone and landslide-affected areas.

In the Jammu region, several districts have been severely impacted by heavy downpours, which have triggered landslides and flash floods. Numerous highways and internal roads remain blocked, isolating several villages from their respective district headquarters.

Rescue and clearance operations are actively underway in the affected areas, with officials closely monitoring the evolving situation. Residents living in vulnerable zones have been advised to remain cautious and adhere to advisories issued by local authorities.

The administration has assured the public that all necessary measures are being taken to ensure safety and restore connectivity in the disrupted regions.

Source: Original article

New Clear Protein Trend Gains Popularity in Weight Management

Staff ReporterBusiness, Health 0

Clear protein is emerging as a popular alternative to traditional protein shakes, offering a lighter, visually appealing option for those seeking to boost their protein intake.

In recent months, a new trend has emerged in the world of nutrition: clear protein. This innovative product delivers 20 to 25 grams of protein per serving, similar to classic protein shakes, but comes in bright, juice-style drinks that are lower in fats, carbohydrates, and calories.

High-protein grocery items have gained significant traction over the past year, as consumers increasingly seek products that support muscle repair, immune function, and metabolism. While protein shakes made from whey concentrate have long been a staple in fitness circles, clear protein is now stepping into the spotlight.

Clear protein is primarily made from whey protein isolate and is available in ready-to-drink bottles or as powders that can be mixed with water to create colorful, juice-like beverages. Popular brands such as Isopure Protein Water, Premier Protein Clear, and Ryse are already making their way onto store shelves, while flavored isolate powders from companies like Alani Nu, Ghost, and Transparent Labs offer a variety of fruity options.

According to The Vitamin Shoppe, searches for “clear protein” increased by 11% in July, marking the seventh consecutive month it has been a top search term on their website. This surge in interest reflects a growing consumer desire for high-protein options that do not feel heavy.

Registered dietitian-nutritionist Lauren Manaker recently highlighted the appeal of clear protein, stating, “It addresses a gap in the market for consumers who want high protein without the heaviness. It’s also visually appealing and fits well with the push for lighter, on-the-go health products.”

Whey protein isolate, the primary ingredient in clear protein, is known for being lower in fat, carbohydrates, calories, and lactose compared to whey protein concentrate. This makes it a suitable choice for individuals with digestive issues and offers a higher concentration of protein by weight.

Both whey protein isolate and concentrate typically provide 20 to 25 grams of protein per serving, according to Lena Beal, a cardiovascular dietitian and spokesperson for the Academy of Nutrition and Dietetics. These proteins are absorbed quickly, making them effective for post-workout recovery. Some experts suggest that whey protein isolate may have a slight advantage in absorption due to its purity.

However, Beal cautions that clear protein is not inherently healthier than its traditional counterparts. “Clear protein isn’t necessarily healthier by default,” she told Today.com. “It’s the same protein just in a lighter format.” In fact, the product itself is not new; isolate-based clear protein has been utilized in hospitals for years to help patients meet their nutritional needs when food intake is limited.

Despite its rising popularity, experts warn that clear protein often contains added artificial flavorings and sweeteners to compensate for the lack of fats and sugars that enhance the flavor of traditional protein powders. Additionally, clear protein products can be more expensive than their conventional counterparts.

“Until we have more data to prove otherwise, neither is inherently better,” Manaker said. “It’s all about what fits your goals and lifestyle.” The recommended dietary allowance for protein is 0.8 grams per kilogram of body weight for healthy adults. However, many experts suggest higher protein intake for athletes, older adults, and pregnant or breastfeeding women.

Both whey protein isolate and concentrate provide essential amino acids, making them excellent options for individuals looking to increase their protein intake. Ultimately, the choice between clear protein and traditional protein shakes comes down to personal preference and dietary goals.

Source: Original article

Mary Kay Transitions Iconic Pink Cadillac to Fully Electric Model

Staff ReporterBusiness, Politics 0

The iconic Mary Kay pink Cadillac is transitioning to electric mobility with the introduction of the Cadillac Optiq, exclusively available to the company’s top sales performers.

Mary Kay Inc. is making a significant shift in its iconic brand by introducing a fully electric version of its legendary pink Cadillac. The new Cadillac Optiq, wrapped in a custom “pink pearl” finish, will be available exclusively to the top 1% of the company’s sales force.

This transition marks a pivotal moment for the brand, which has a rich history dating back nearly 60 years. The company’s founder, Mary Kay Ash, faced gender discrimination when she was denied a car purchase without a man’s signature. This experience fueled her determination to create a legacy that empowers women through entrepreneurship and sales.

In a recent press release, CEO Ryan Rogers, who is also the grandson of Mary Kay Ash, emphasized the significance of this move. “With the introduction of the all-electric OPTIQ, we’re honoring that iconic legacy while driving into a transformative future—one grounded in our commitment to sustainability and dedication to inspiring and celebrating the achievements of our independent sales force for generations to come,” he stated.

The shift to electric vehicles (EVs) is not merely a change in the type of car being offered; it represents a broader shift in mindset. The new Cadillac Optiq signifies that luxury, reward, and eco-consciousness can coexist without compromise. The pink Cadillacs have long been symbols of achievement and recognition within the Mary Kay community, and this electric version aims to uphold those values while embracing modern sustainability practices.

Only the top 1% of Mary Kay’s sales force qualifies for this prestigious vehicle, which is not given lightly. Recipients have the option to choose a $900 monthly bonus instead, but approximately 90% opt for the car. The exclusivity of these vehicles is further enhanced by their two-year leasing period. Once the lease ends, the cars are returned and repainted to their original factory color, making a true pink Cadillac a rare sight outside of Mary Kay circles.

As the automotive industry evolves, the introduction of the electric Cadillac highlights a significant trend: EVs are no longer limited to tech-savvy early adopters or urban commuters. They are now making their way into industries steeped in tradition and glamour, showcasing how companies can maintain their legacy while embracing innovation.

This move by Mary Kay is not just a marketing strategy; it aligns the brand with modern values while honoring its founder’s pioneering spirit. The decision to go electric in such a distinctive and eye-catching shade of pink is a refreshing approach to sustainability, demonstrating that style and eco-friendliness can indeed go hand in hand.

As legacy brands like Mary Kay integrate electric vehicles into their offerings, it raises questions about how this will influence attitudes toward sustainability in industries traditionally rooted in conventional practices. The electric Cadillac serves as a testament to the potential for change, encouraging other companies to consider similar transitions.

In conclusion, the introduction of the electric Cadillac Optiq represents a bold step forward for Mary Kay, blending its rich history with a commitment to a sustainable future. This initiative not only honors the legacy of Mary Kay Ash but also sets a precedent for other brands in the industry.

Source: Original article

Japan Increases Investments in India Across Multiple Sectors

Staff ReporterBusiness, Economy 0

India and Japan have solidified their economic partnership with over 170 memoranda of understanding, representing more than $13 billion in investments across various sectors, including clean energy and technology.

India and Japan have reached a significant milestone in their strategic and economic partnership, unveiling more than 170 memoranda of understanding (MoUs) over the past two years. These agreements represent over $13 billion in fresh investment commitments, reflecting Japan’s growing confidence in India’s economic trajectory.

The agreements were highlighted during Prime Minister Narendra Modi’s visit to Tokyo for the India–Japan Economic Forum on August 29. Major Japanese corporations are committing to substantial projects across various sectors, signaling a robust integration into India’s industrial and human capital landscape.

Nippon Steel, through AM/NS India, plans to invest ₹15 billion in Gujarat and ₹56 billion in an integrated steel plant in Andhra Pradesh. Suzuki Motor Corporation is set to invest ₹350 billion for a new plant in Gujarat and ₹32 billion for expanding its production line. Additionally, Toyota Kirloskar has announced investments of ₹33 billion for Karnataka and ₹200 billion for a new facility in Maharashtra. Other notable investments include Sumitomo Realty’s $4.76 billion in real estate and JFE Steel’s ₹445 billion to enhance electrical steel production.

In the renewable energy sector, Osaka Gas is set to establish 400 MW of renewable power capacity, with plans for future green hydrogen projects. Furthermore, Astroscale will become the first Japanese private company to launch satellites using the Indian Space Research Organisation’s (ISRO) PSLV platform.

The agreements are also poised to transform India’s small and medium enterprises (SMEs) by integrating them into global supply chains. Tokyo Electron and Fujifilm, in collaboration with Tata Electronics, are developing a semiconductor ecosystem that will enable Indian SMEs to supply high-value components. The partnership between Toyota and Suzuki aims to incorporate hundreds of tier-2 and tier-3 Indian firms, while Fujitsu plans to hire 9,000 engineers for its Global Capability Center, thereby boosting demand for IT-linked SMEs.

Officials have noted that these collaborations will allow Indian firms to adopt global standards, infuse new technologies, and access broader markets, ultimately enhancing India’s export competitiveness.

Japanese engagement is also reaching grassroots levels, focusing on sustainable development and improving farmer incomes. Sojitz Corporation, in partnership with Indian Oil, will invest $395 million to establish 30 biogas plants that will produce 1.6 million tonnes annually. This initiative aims to create income streams for farmers supplying crop residues and agricultural waste. Additionally, Suzuki Motor Corporation, in collaboration with the National Dairy Development Board and local cooperatives, will set up four biogas plants in Gujarat’s Banaskantha district, investing ₹2.3 billion under a UNIDO programme supported by Japan’s Ministry of Economy, Trade and Industry (METI). These plants will convert cow dung into carbon-neutral biogas for CNG vehicles, which constitute one-fifth of India’s passenger car market. The project is expected to reduce emissions, generate rural jobs, and enhance energy self-sufficiency.

Exports are another critical aspect of the new MoUs. Nippon Steel’s expansion will bolster specialty steel exports to the automotive and energy sectors. Meanwhile, Toyota and Suzuki plan to export hybrid and electric vehicles manufactured in India to Africa, the Middle East, and Southeast Asia. The semiconductor collaboration between Fujifilm and Tata will integrate India into global chip supply chains, and Osaka Gas’s renewable energy ventures will contribute to international clean energy flows. This strategy exemplifies the emerging model of “Make in India with Japan, Export to the World.”

Human resources and knowledge exchange are rapidly expanding under the India–Japan Talent Bridge programme and METI’s initiatives. The two countries have set a target of 500,000 exchanges over five years, encompassing students, interns, and professionals in sectors such as semiconductors, artificial intelligence, robotics, IT, and clean energy. Career fairs have been organized at leading Indian universities, including IIT Guwahati, IIT Kharagpur, and Delhi University. Indian students and professors are being invited to Japan for company visits and academic roundtables, while internships are being offered both physically and online. For mid-career professionals, specialized job fairs supported by Talent Market Reports are being rolled out to help Japanese firms navigate India’s labor market.

Japanese companies are also expanding their presence directly in India. Nidec is establishing a global software development center in Bengaluru, while Musashi Seimitsu is focusing on e-axles for two-wheeler electric vehicles with an emphasis on India and Africa. Dai-ichi Life Techno Cross is hiring bilingual IT engineers, and Money Forward India is developing fintech platforms with local talent. Additionally, Beyond Next Ventures is funding deep-tech start-ups and offering internships. METI has allocated ¥15 billion for skills and HR cooperation, which includes company missions to India, job fairs, and Japanese language training for Indian recruits.

Japan’s commitment to balanced regional development is further evidenced by an MoU between the Government of Assam and ASEAN Holdings, aimed at investing in industrial infrastructure, logistics, and agro-based industries. This agreement aligns with India’s Act East Policy and Japan’s long-standing focus on developing the northeast region.

The broader strategic outlook was also evident at the Japan–India–Africa Forum and the ninth Tokyo International Conference on African Development (TICAD) summit, where India was positioned as a key player in industrial corridors and connectivity initiatives. Priorities identified include securing rare earth minerals, building resilient supply chains in semiconductors and electric vehicles, and expanding export markets for goods manufactured in India using Japanese technology.

From steel plants in Gujarat to biogas projects in Banaskantha, and from Assam’s strategic role to Tokyo’s advanced research and development hubs, the India–Japan MoUs are laying the groundwork for a new era of cooperation. With “Make in India, Make for the World” as the guiding vision, this partnership is poised to reshape industries, agriculture, and human capital not only for the two nations but also for the wider region and beyond.

Source: Original article

Former RBI Governor Urjit Patel Appointed Executive Director at IMF

Staff ReporterBusiness, Politics 0

Former Reserve Bank of India Governor Urjit Patel has been appointed as the Executive Director at the International Monetary Fund for a three-year term, succeeding K. Subramanian.

New Delhi: The Indian government announced on Friday the appointment of Urjit Patel, the former Governor of the Reserve Bank of India (RBI), as the Executive Director at the International Monetary Fund (IMF) for a term of three years.

The announcement was made through an official note stating, “The Appointments Committee of the Cabinet has approved the appointment of Dr. Urjit Patel, Economist and Former RBI Governor, to the post of Executive Director (ED) at the International Monetary Fund, for a period of three years with effect from the date of assumption of charge of the post, or until further orders, whichever is earlier.”

In this new role, Patel will represent India and several neighboring countries, including Bangladesh, Bhutan, and Sri Lanka, at the Washington-based global financial institution.

This appointment marks Patel’s return to the IMF, where he began his career in 1990 after earning his Ph.D. He worked on various desks, including those for the United States, India, the Bahamas, and Myanmar, until 1995.

Following his tenure at the IMF, Patel was appointed to the RBI, where he played a crucial advisory role in several key areas, including the development of the debt market, banking sector reforms, pension fund reforms, and the targeting of the real exchange rate.

Patel became the 24th Governor of the RBI in September 2016, succeeding Raghuram Rajan. His tenure was characterized by significant policy interventions, notably the introduction of an inflation-targeting framework and the management of economic challenges following the government’s demonetization initiative in November 2016.

In December 2018, Patel resigned from his position as RBI Governor, citing personal reasons. His resignation followed a public dispute with the government regarding issues of central bank autonomy and surplus reserves.

As Patel steps into his new role at the IMF, his extensive experience in both national and international financial institutions is expected to contribute significantly to the representation of India and its neighboring countries.

Source: Original article

Cybersecurity Expert Shares Tips to Prevent Online Shopping Tracking

Staff ReporterEconomy, Technology 0

Using email aliases for online shopping can enhance your privacy by preventing companies from tracking your online activities across various platforms.

In today’s digital landscape, many individuals underestimate the significance of their email addresses. While most view their email as a simple identifier for receiving receipts and shipping updates, it serves a much larger purpose. Your email is essentially a key to your online identity, utilized by companies to construct behavioral profiles, target advertisements, and, in some cases, facilitate fraud following data breaches. When you consistently use the same email address across different platforms, you create a universal key that can be exploited.

To safeguard my privacy, I employ email aliases for online shopping. This practice not only helps me remain anonymous but also significantly reduces the amount of spam I receive. In this article, I will explain what email aliases are, their importance, and how they can shift the balance of power in your favor.

Every time you enter your primary email address on a shopping website, you provide that company with a lasting connection to your behavior across various platforms and devices. Although companies may hash or encrypt your email, the underlying behavioral patterns remain intact. This means you can still be tracked. However, using aliases can disrupt this tracking chain.

Instead of sharing my actual email address, I create a unique alias for each website I interact with. While these emails still reach my primary inbox through forwarding, the company never sees my real address. This minor adjustment prevents them from linking my activities to other accounts or websites. Although it is not a foolproof solution, it introduces enough friction to hinder tracking systems.

Each alias I utilize acts as a tracker. If one begins to receive spam, I can identify which site sold or compromised my data. Many individuals are unaware of where a data breach occurs; they simply assume that “it happens.” My approach is different. When an alias starts receiving unwanted emails, I do not waste time trying to unsubscribe or set up filters. Instead, I disable the alias, effectively eliminating the problem.

Research indicates that the average e-commerce site employs between 15 and 30 third-party scripts, analytics trackers, ad pixels, and behavioral beacons. Even if the site itself operates honestly, its underlying infrastructure may not. Your email traverses multiple layers, including mailing tools, CRM platforms, and shipping plugins. A single misconfiguration or a careless developer can lead to your data being mishandled.

Using an alias minimizes the risk. In the event of a data breach, your core identity remains secure. Furthermore, aliases not only enhance privacy but also promote more thoughtful online behavior. Since I began using them, I have become more deliberate about where I sign up and why. The mental pause required to generate a new alias encourages me to think critically about my online interactions. I can also establish rules, such as directing all product warranties to products@myalias.com and all newsletters to news@myalias.com.

However, relying solely on aliases is not sufficient for online safety. It is essential to start with a secure email provider. By creating email aliases, you can protect your personal information and minimize spam. These aliases forward messages to your primary address, streamlining the management of incoming communications and reducing the risk of data breaches. For recommendations on private and secure email providers that offer alias addresses, visit Cyberguy.com.

While we have made strides in password hygiene—many now use password managers and enable two-factor authentication—our email habits have largely remained unchanged. Most individuals still depend on a single email address for all their activities, including shopping, banking, subscriptions, work, and family communication. This practice is not only inefficient but also poses a significant security risk. Utilizing email aliases is a straightforward method to fragment your digital identity, complicating matters for potential attackers and decreasing the likelihood that a single breach will affect multiple accounts.

Would you continue using your primary email for all your activities if you understood that it made you more susceptible to tracking? Share your thoughts with us at Cyberguy.com.

Source: Original article

Secretary Scott Bessent Optimistic About Trade Deal Amid Tariff Challenges

Staff ReporterBusiness, Politics 0

U.S. Treasury Secretary Scott Bessent expressed optimism about resolving trade disputes with India, despite the implementation of a new 50% tariff on Indian imports.

WASHINGTON, D.C. — On August 27, U.S. Treasury Secretary Scott Bessent conveyed his confidence that the United States and India will ultimately find a resolution to their ongoing trade disputes, even as a significant new 50% tariff on Indian imports came into effect on the same day.

In an interview with Fox Business Network, Bessent acknowledged the “very complicated” nature of the relationship between the two nations. He emphasized the strong personal rapport between President Donald Trump and Indian Prime Minister Narendra Modi as a crucial factor in navigating these challenges. Bessent pointed out that while India is recognized as the world’s largest democracy, the United States holds the title of the world’s largest economy, making their negotiations particularly intricate.

The recent tariff increase, enacted under President Trump’s Executive Order 14329, is largely perceived as a punitive response to India’s ongoing purchase of Russian oil. Bessent also noted that India has adopted a protracted and “performative” approach to negotiations. He mentioned that India had initially engaged in discussions following Trump’s “Liberation Day” announcement on April 2, but a deal that he anticipated would be finalized by May or June has yet to materialize.

Bessent underscored the United States’ advantageous position as the deficit country in this trade relationship. “I’ve said this all along during the tariff negotiations: the U.S. is the deficit country. When there is a schism in trade relations, the deficit country is at an advantage. It’s the surplus country that should worry,” he stated, referring to the significant trade deficit the U.S. has with India.

He concluded with a hopeful outlook, saying, “At the end of the day, we will come together.” This sentiment reflects a belief that despite current tensions, a resolution is possible.

Source: Original article

Texas Businessman Charged with Federal Tax Evasion in Texas

Staff ReporterBusiness, Law/Legal, Politics 0

A Texas businessman has been indicted for federal tax evasion, accused of diverting company funds for personal use and failing to report significant income.

TYLER, TX – A federal grand jury in the Eastern District of Texas has indicted Anil Surabhi, a 43-year-old Indian citizen residing in McKinney, on charges of attempting to evade taxes.

The indictment alleges that Surabhi, who managed an IT services company based in Georgia, misappropriated substantial company funds for his personal gain.

According to the legal document, Surabhi’s misuse of funds included financing private investments, covering personal expenses, and making real estate purchases. Notably, he is accused of failing to report these significant disbursements as income on his individual income tax returns.

If convicted of the federal charge, Surabhi could face a maximum sentence of five years in federal prison.

Source: Original article

India’s Economic Panel Identifies US Tariffs as Growth Risk Amid Mild Inflation

Staff ReporterBusiness, Economy, Politics 0

India’s monetary policy committee highlights global trade tensions and tariffs as significant risks to growth, while maintaining a positive outlook on inflation and the resilience of the economy.

India’s monetary policy committee has identified global trade tensions and tariffs as evolving risks that could hinder economic growth. Despite these concerns, the committee expressed confidence in the resilience of the Indian economy and noted a benign inflation outlook.

The committee’s assessment reflects a careful consideration of the current global economic climate, where trade disputes and tariff impositions have become increasingly prevalent. These factors are seen as potential obstacles that could impact India’s growth trajectory.

While the risks associated with international trade are acknowledged, the committee remains optimistic about the overall health of the Indian economy. They pointed out that various indicators suggest a robust economic framework capable of weathering external pressures.

Furthermore, the committee emphasized that the inflation outlook is favorable, suggesting that price stability is being maintained despite the challenges posed by external factors. This positive inflation outlook is crucial for sustaining economic growth and ensuring consumer confidence.

The interplay between global trade dynamics and domestic economic policies will be critical in shaping India’s economic future. As the committee continues to monitor these developments, their insights will play a vital role in guiding monetary policy decisions moving forward.

In summary, while global trade tensions and tariffs present significant risks, the Indian economy’s resilience and a favorable inflation outlook provide a foundation for continued growth.

Source: Original article

Nifty Drops Below 25,000 as Sensex Falls Under 82,000 in Early Trading

Staff ReporterBusiness, Finance/Economy 0

Indian stock markets faced a downturn on Friday, primarily due to selling activity by Foreign Portfolio Investors, which negatively impacted investor sentiment.

Indian stock markets experienced a notable decline on Friday, with the Nifty index falling below the 25,000 mark and the Sensex slipping under 82,000. This downturn was largely attributed to increased selling by Foreign Portfolio Investors (FPIs), which has significantly affected overall investor sentiment.

The market’s reaction reflects broader concerns among investors regarding economic conditions and potential volatility in the financial landscape. FPIs, which play a crucial role in the Indian equity market, have been net sellers recently, contributing to the downward pressure on stock prices.

As investors assess the implications of these sales, market analysts are closely monitoring the situation for any signs of recovery or further declines. The sentiment among traders remains cautious, with many looking for indicators that could signal a stabilization in the markets.

Overall, the selling trend by FPIs has raised questions about future investment flows and the potential impact on market performance in the coming weeks. Investors are urged to stay informed and consider the broader economic context as they navigate these turbulent market conditions.

According to NDTV, the situation underscores the importance of understanding market dynamics and the influence of external factors on domestic trading activities.

Source: Original article

India’s Stance on Russian Oil and Implications of Trump Tariff

Staff ReporterBusiness, Economy, Politics 0

India may find a receptive market in Russia for its exports amid challenges in the U.S., according to a senior Russian diplomat.

A senior Russian diplomat has extended an invitation to India, suggesting that the country is welcome to export its products to Russia if it encounters difficulties accessing the U.S. market. This statement was made on Wednesday, highlighting the ongoing economic dynamics between India and Russia in the context of global trade tensions.

The diplomat’s remarks come at a time when India is navigating complex trade relationships, particularly with the United States, where tariffs and regulatory challenges have made it increasingly difficult for Indian goods to enter the market. The suggestion to look towards Russia as an alternative market reflects a strategic pivot that could benefit both nations.

India has been a significant player in the global market, exporting a variety of goods ranging from textiles to pharmaceuticals. However, the recent trade climate has prompted Indian exporters to seek new opportunities beyond traditional markets. The Russian market, with its own unique demands and needs, presents a potential avenue for Indian products.

As geopolitical tensions continue to shape international trade, the relationship between India and Russia may strengthen. The Russian diplomat’s comments underscore a willingness to enhance bilateral trade ties, which could lead to increased economic cooperation between the two countries.

In light of these developments, Indian exporters may need to assess the feasibility of entering the Russian market. This could involve understanding local regulations, consumer preferences, and logistical considerations that differ from those in the U.S.

Overall, the invitation from Russia serves as a reminder of the shifting landscape of global trade, where countries are increasingly looking to diversify their trading partners in response to challenges posed by tariffs and other trade barriers.

According to NDTV, the evolving trade dynamics could open new doors for Indian businesses seeking to expand their reach in the international market.

Source: Original article

Tata Consultancy Services Shares Decline Following Layoff Announcement

Staff ReporterBusiness, Cover, Economy 0

Tata Consultancy Services’ shares declined on Monday after the company announced plans to lay off approximately 12,200 employees in fiscal year 2026.

Shares of Tata Consultancy Services (TCS), a leading player in the technology sector, experienced a downturn on Monday. This decline followed the company’s recent announcement regarding significant layoffs.

TCS revealed that it plans to reduce its workforce by approximately 12,200 employees in fiscal year 2026. This decision has raised concerns among investors and analysts, contributing to the drop in the company’s stock price.

The announcement comes amid a broader trend in the tech industry, where many companies are reassessing their workforce in response to changing market conditions and economic pressures. TCS’s decision to downsize reflects the challenges faced by the sector as it navigates a post-pandemic landscape.

As one of the largest IT services firms globally, TCS’s workforce reduction is significant. The company has been a key player in providing technology solutions and services to various industries, and such a move could have implications for its operational capabilities and market position.

Investors are closely monitoring the situation, as layoffs can often signal deeper issues within a company or sector. The market’s reaction to TCS’s announcement underscores the sensitivity of investors to employment changes within major corporations.

In the wake of the announcement, TCS’s shares have faced pressure, reflecting investor sentiment regarding the company’s future prospects. The layoffs are expected to be part of a broader strategy to streamline operations and enhance efficiency in a competitive environment.

As TCS moves forward with its plans, stakeholders will be watching closely to see how the company manages this transition and what impact it will have on its overall performance in the coming years.

According to NDTV, the situation remains fluid as TCS navigates these changes in its workforce.

Source: Original article

RBI Governor Discusses Future Trade Agreements Following UK Deal

Staff ReporterCover, Economy, Politics 0

Reserve Bank Governor Sanjay Malhotra expressed support for the recent free trade agreement with the UK, highlighting its potential benefits for various sectors of the Indian economy.

On Friday, Reserve Bank of India Governor Sanjay Malhotra praised the newly signed free trade agreement (FTA) with the United Kingdom, emphasizing its significance for the Indian economy.

Malhotra stated that the FTA is expected to provide a boost to multiple sectors, enhancing trade relations between India and the UK. He noted that such agreements are crucial for fostering economic growth and expanding market access for Indian businesses.

The Governor’s remarks come at a time when India is actively pursuing trade agreements with various countries to strengthen its economic ties globally. The FTA with the UK is seen as a strategic move to enhance bilateral trade and investment opportunities.

Malhotra’s endorsement of the agreement reflects a broader vision for India’s economic landscape, where trade partnerships play a vital role in driving growth and innovation. The Governor highlighted the importance of these agreements in creating a more resilient and competitive economy.

As India continues to navigate the complexities of global trade, the establishment of FTAs with key partners like the UK is expected to facilitate smoother trade flows and reduce barriers for Indian exporters.

In conclusion, the Reserve Bank Governor’s support for the UK free trade agreement underscores the potential benefits it holds for the Indian economy, paving the way for enhanced collaboration and growth in various sectors.

Source: Original article

TCS Market Valuation Declines by Rs 28,149 Crore Following Layoff Announcement

Staff ReporterBusiness, Economy, Politics 0

Tata Consultancy Services has seen a significant decline in its market valuation, losing over Rs 28,000 crore following the announcement of employee layoffs.

Tata Consultancy Services (TCS) has experienced a substantial decrease in its market valuation, eroding by Rs 28,148.72 crore within just two days. This decline follows the company’s recent announcement regarding layoffs affecting approximately 12,000 employees from its global workforce this year.

The decision to reduce its workforce has raised concerns among investors and analysts, leading to a notable impact on the company’s stock performance. The layoffs are part of TCS’s broader strategy to streamline operations and adapt to changing market conditions.

As one of India’s largest IT services firms, TCS’s actions are closely monitored by stakeholders in the industry. The layoffs reflect ongoing challenges in the technology sector, where companies are increasingly focusing on efficiency and cost management in response to economic pressures.

The market’s reaction to TCS’s announcement underscores the sensitivity of investors to workforce changes, particularly in a sector that has seen rapid growth and transformation in recent years. The loss in market valuation highlights the potential risks associated with such strategic decisions.

In the wake of the layoffs, TCS will need to navigate the complexities of maintaining employee morale and ensuring that remaining staff remain engaged and productive. The company’s leadership will likely face scrutiny as they implement these changes and communicate their long-term vision to stakeholders.

As TCS moves forward, it will be essential for the company to demonstrate its commitment to innovation and growth, even in the face of workforce reductions. The ability to adapt to market demands while managing human resources effectively will be crucial for TCS’s future success.

According to NDTV, the market valuation decline serves as a reminder of the delicate balance companies must maintain between operational efficiency and workforce stability.

Source: Original article

Marco Rubio Discusses Tariffs on Indian Oil Imports from Russia

Staff ReporterBusiness, Politics, Politics 0

U.S. Secretary of State Marco Rubio explains the rationale behind imposing tariffs on India for Russian oil purchases while sparing China, despite its significant role as a buyer of Russian oil.

U.S. Secretary of State Marco Rubio has clarified the reasons behind the United States’ decision to impose tariffs on India for its purchases of Russian oil, while simultaneously sparing China, the largest buyer of Russian oil, from similar sanctions. India faces a 50 percent tariff, which includes a 25 percent duty specifically related to its trade with Moscow.

In an interview with Fox Business, Rubio emphasized that the majority of Russian oil purchased by China is refined and subsequently sold in the global marketplace. He pointed out that imposing additional sanctions on China could inadvertently lead to higher global energy prices.

“If you look at the oil that’s going to China and being refined, a lot of that is then being sold back into Europe,” Rubio explained. He noted that European nations continue to purchase natural gas from Russia, although some are attempting to reduce their dependence on it. “There are countries trying to wean themselves off it, but there’s more Europe can do with regard to their own sanctions,” he added.

Rubio cautioned that sanctioning Chinese refiners could have disruptive consequences for global oil prices. He stated, “If you put secondary sanctions on a country—let’s say you were to go after the oil sales of Russian oil to China—well, China just refines that oil. That oil is then sold into the global marketplace, and anyone who’s buying that oil would be paying more for it or, if it doesn’t exist, would have to find an alternative source for it.”

He also mentioned that European nations, which purchase Russian oil refined in China, have expressed concerns about potential punitive measures against Beijing. “We have heard, when you talk about the Senate bill that was being proposed—where there was a hundred percent tariff on China and India—we did hear from a number of European countries—not in press releases, but we heard from them—some concern about what that could mean,” Rubio remarked.

When asked about the possibility of sanctions against Europe for its continued purchases of oil and gas from Russia, Rubio was cautious. “I don’t know about sanctions on Europe directly, obviously, but certainly there are implications to secondary sanctions,” he said. He expressed a desire to avoid a tit-for-tat situation with European nations, suggesting that they could play a constructive role in addressing the issue.

Rubio’s comments highlight the complex dynamics of international energy trade and the challenges of implementing sanctions in a way that does not exacerbate global economic conditions.

Source: Original article

Income Tax Department Launches Online Filing for ITR Form 3

Staff ReporterBusiness, Economy, Finance/Economy 0

The Income Tax Department has announced the online filing of ITR Form Number 3, benefiting taxpayers with various income sources.

The Income Tax Department has officially enabled the online filing of ITR Form Number 3. This development is particularly significant for taxpayers who derive income from business activities, share trading, or investments in unlisted shares.

With the introduction of this online filing option, taxpayers can now conveniently submit their ITR-3 through the e-filing portal. This move aims to streamline the tax filing process and enhance accessibility for individuals and businesses alike.

Taxpayers who fall under this category are encouraged to take advantage of the new system, which is designed to simplify the filing experience. The online platform not only facilitates easier submission but also allows for quicker processing of tax returns.

The ITR-3 form is specifically tailored for individuals and Hindu Undivided Families (HUFs) who have income from a business or profession. It is also applicable to those who earn income from capital gains, particularly from share trading and investments in unlisted shares.

As the tax season approaches, the Income Tax Department’s initiative to enable online filing is expected to significantly reduce the burden on taxpayers. This enhancement aligns with the government’s broader efforts to digitize tax processes and improve overall efficiency in tax administration.

Taxpayers are advised to visit the official e-filing portal to access the new ITR-3 form and to ensure they meet all necessary requirements for filing. This development marks a positive step towards making tax compliance more user-friendly and accessible for all.

According to NDTV, the online filing option is part of the department’s ongoing commitment to modernize tax services and provide taxpayers with the tools they need for efficient filing.

Source: Original article

Musk and Altman Rivalry: A Potential Indian-American Contender Emerges

Staff ReporterBusiness, Politics, Technology 0

In the ongoing rivalry between tech giants, Aravind Srinivas’s Perplexity emerges as a potential contender, challenging established players like ChatGPT.

The world of artificial intelligence is witnessing a fierce competition, particularly between prominent figures like Elon Musk and Sam Altman. Amidst this rivalry, a new player has emerged: Aravind Srinivas and his company, Perplexity. The question arises: is Perplexity a genuine contender in this high-stakes game, or is it merely a pawn in a larger strategy orchestrated by the tech giants?

As the landscape of AI continues to evolve, the dynamics between established companies and emerging startups become increasingly complex. Musk and Altman represent two sides of a coin, each with their own vision for the future of AI. Musk, known for his bold and often controversial statements, has been vocal about his concerns regarding the potential dangers of AI. On the other hand, Altman, the CEO of OpenAI, has focused on advancing AI technology while promoting safety and ethical considerations.

In this context, Perplexity’s rise can be seen as a strategic move by other tech giants who may be looking to support smaller players in order to challenge the dominance of established entities like ChatGPT. By lifting a “David” onto their shoulders, these companies might be aiming to create a more balanced competitive landscape.

Aravind Srinivas’s Perplexity has garnered attention for its innovative approach to AI, positioning itself as a formidable alternative to larger competitors. The startup’s focus on providing unique solutions and addressing specific market needs may resonate with users who are seeking alternatives to mainstream offerings.

However, the question remains whether Perplexity can sustain its momentum in a market that is heavily influenced by the actions and decisions of tech giants. The support from larger players could provide a significant boost, but it also raises concerns about the potential for overshadowing the startup’s unique identity and vision.

As the rivalry between Musk and Altman continues to unfold, the emergence of Perplexity serves as a reminder that the landscape of AI is not solely defined by the actions of a few prominent figures. Instead, it is a complex ecosystem where innovation can come from unexpected sources, challenging the status quo and reshaping the future of technology.

In conclusion, the competition in the AI sector is far from straightforward. With players like Aravind Srinivas and his Perplexity entering the fray, the dynamics of the industry are shifting. Whether this new contender can carve out its niche remains to be seen, but it undoubtedly adds an intriguing layer to the ongoing narrative of AI development.

Source: Original article

INDIA STANDING STRONGER; EVEN IF THERE IS NO DEAL

Mathew joyEconomy, Diplomacy 0
Dr. Mathew Joys, Las Vegas

India has thrown its weight behind the thrilling Summit meeting in Alaska, where US President Donald Trump and Russian President Vladimir Putin took center stage! Their commitment to peace is not just admirable—it’s inspiring! India is upbeat about the progress made during the summit, and the resounding call for dialogue and diplomacy is something everyone craves. The urgency for a speedy resolution to the conflict in Ukraine has never been clearer!

In an electrifying three-hour conversation, Trump and Putin tackled the ongoing turmoil in Ukraine. While they may not have finalized an agreement to end the war, Putin expressed that an “understanding” was reached between them. Trump labeled the encounter as “very good,” but made it clear: no deals will be sealed without concrete agreements!
Just hours before this pivotal meeting, India’s Prime Minister Narendra Modi delivered a riveting Independence Day 2025 speech, announcing tax cuts and ambitious policy reforms! With a powerful message about fostering self-reliance in a protectionist global economy, he urged citizens to roll up their sleeves and produce high-quality goods at home.
Unfortunately, Trump’s push for a ceasefire in Ukraine didn’t bring about the desired results, as Putin remained steadfast. This backdrop sets the stage for the Indian Ministry of External Affairs’ reaction to Trump’s recent decision to impose a staggering 50% tariff on India’s exports to the US. The reason? India’s burgeoning oil trade with Russia.
Trump didn’t hold back when asked about the economic implications of the talks, commenting, “Well, they lost an oil client, so to speak, which is India, which was doing about 40% of the oil; China, as you know, is doing a lot.”
Amidst these global talks, India’s stock market is defying the odds with remarkable resilience. The Sensex surged by an impressive 66.28 points, hitting a dazzling 80,670.36, while the Nifty climbed by 42.85 points to reach 24,627.90. The Indian rupee is also on the rise, gaining 7 paise against the US dollar, now valued at 87.68!
Leading the charge in the Sensex were powerhouses like Tech Mahindra, Tata Consultancy Services, Mahindra & Mahindra, HCL Tech, Larsen & Toubro, and Tata Steel. In the wider Asian market, excitement was in the air as indices in South Korea, Japan, China, and Hong Kong basked in positive trading trends today, standing in stark contrast to declines seen in US markets. What a time to be watching these developments unfold!
With the punishing tariffs imposed on Indian exports by U.S. President Donald Trump expected to hurt growth in the world’s fastest-growing major economy, Modi announced lower goods and services taxes (GST) from October – a move that could help boost consumption.

Farmers, fishermen, cattle rearers are our top priorities,” Modi said in his customary annual address from the ramparts of the Red Fort in New Delhi.

Modi will stand like a wall against any policy threatening their interests. India will never compromise when it comes to protecting the interests of our farmers, even before Trump!

Sensex Falls 500 Points Amid Concerns Over Trump Tariffs

Staff ReporterBusiness, Economy, Politics 0

Indian shares fell sharply as the U.S. announced a 25% tariff on imports from India, effective August 1, raising concerns about market stability.

Indian stock markets experienced a significant downturn on Thursday, following the announcement from the United States regarding new tariffs. The U.S. government stated it would impose a 25% tariff on goods imported from India, effective August 1. This decision has raised concerns among investors and market analysts about the potential impact on the Indian economy.

The announcement of the tariff comes amid ongoing trade tensions between the two nations. The U.S. has also indicated that there may be additional penalties, although the specifics of these penalties have not yet been disclosed. The uncertainty surrounding these measures has led to a negative sentiment in the Indian markets.

As a result of the tariff news, Indian shares opened lower, with the Sensex dropping by 500 points shortly after the market opened. This decline reflects the immediate reaction of investors to the potential economic repercussions of the tariffs.

Market analysts are closely monitoring the situation, as the imposition of tariffs could have broader implications for trade relations between India and the U.S. The Indian government has yet to respond officially to the announcement, but the potential for retaliatory measures remains a concern among traders.

In the context of a global economy still recovering from the impacts of the COVID-19 pandemic, the introduction of new tariffs could hinder growth prospects for both nations. Investors are advised to remain cautious as the situation develops.

According to market experts, the long-term effects of the tariffs will depend on how both governments navigate this new phase of trade relations. The Indian markets have historically shown resilience in the face of external shocks, but the current climate of uncertainty could pose challenges ahead.

As the situation unfolds, stakeholders in both countries are urged to stay informed and prepared for potential changes in trade dynamics. The coming weeks will be critical in determining the trajectory of the markets and the broader economic landscape.

Source: Original article

Ambuja Cements Reports Strong Performance for FY 2025-26

Staff ReporterBusiness, Finance/Economy 0

Ambuja Cements has reported record quarterly sales of 18.4 million tonnes for the first quarter of FY 2025-26, marking a 20 percent increase compared to the previous year.

Ambuja Cements has kicked off the financial year 2025-26 with impressive results, achieving its highest quarterly sales to date. The company reported sales of 18.4 million tonnes, reflecting a significant 20 percent increase year-on-year.

This robust performance underscores Ambuja Cements’ strong market position and operational efficiency. The growth in sales is indicative of the company’s strategic initiatives and its ability to meet rising demand in the construction sector.

As the company continues to expand its footprint, it remains focused on enhancing production capabilities and optimizing supply chain operations. The increase in sales volume not only highlights Ambuja’s commitment to growth but also its resilience in a competitive market.

The strong quarterly results are expected to bolster investor confidence and position Ambuja Cements favorably for future growth opportunities. The company aims to sustain this momentum throughout the fiscal year, leveraging its established brand and market presence.

Overall, Ambuja Cements’ performance in the first quarter of FY 2025-26 sets a positive tone for the remainder of the year, as it continues to adapt to market dynamics and consumer needs.

Source: Original article

US Tariffs Create Opportunities for Indian Supply Chain Industry

Staff ReporterBusiness, Economy 0

The U.S. decision to impose a 25 percent tariff on India presents both challenges and significant opportunities for the country’s supply chain, according to industry leaders.

The recent announcement from the United States regarding a 25 percent tariff on imports from India has sparked a mixed reaction among industry leaders. While some view this move as a challenge, many believe it opens up substantial opportunities for India’s supply chain sector.

Industry experts argue that the tariffs could encourage Indian manufacturers to enhance their competitiveness and innovation. By facing higher costs for exports to the U.S., companies may be motivated to improve efficiency and invest in technology, ultimately leading to a stronger domestic supply chain.

Moreover, the tariffs could prompt Indian businesses to explore new markets beyond the United States. Diversifying export destinations may reduce reliance on the U.S. market and mitigate the impact of tariffs in the long run.

Some leaders in the industry suggest that this situation could also lead to increased collaboration between Indian companies and foreign firms looking to establish or expand their presence in India. Such partnerships could foster knowledge transfer and boost local capabilities.

Additionally, the tariffs may drive the Indian government to implement policies that support domestic industries. This could include incentives for local production, which would not only benefit manufacturers but also create jobs and stimulate the economy.

As the situation develops, industry leaders are closely monitoring the potential impacts of the tariffs on various sectors. The consensus is that while challenges exist, the opportunity to strengthen India’s supply chain and enhance its global competitiveness is significant.

According to industry leaders, the key will be to adapt swiftly to the changing landscape and leverage the situation to foster growth and innovation within the country.

Source: Original article

Trump Comments on Potential 25% Tariff on Indian Oil Imports

Staff ReporterBusiness, Politics 0

US President Donald Trump suggested that Russia has lost India as an oil client due to US penalties, while indicating he may reconsider imposing additional tariffs on Indian oil purchases.

US President Donald Trump claimed on Friday that Russia has lost India as one of its oil clients following the announcement of US penalties against New Delhi for its continued purchases of Russian crude oil. However, he also indicated that he might not impose secondary tariffs on countries that continue to procure Russian oil.

Trump’s comments came as India has yet to confirm any cessation of oil purchases from Moscow. This follows Washington’s announcement of a 25 percent duty on Russian oil imports, which is set to take effect on August 27. This duty is in addition to a previous 25 percent tariff imposed on Indian goods last month.

The US has threatened sanctions against Moscow and secondary sanctions on countries that buy its oil if there are no efforts to end the ongoing war in Ukraine. Currently, China and India are the two largest buyers of Russian oil.

“Well, he (Russian President Vladimir Putin) lost an oil client, so to speak, which is India, which was doing about 40 percent of the oil. China, as you know, is doing a lot… And if I did what’s called a secondary sanction, or a secondary tariff, it would be very devastating from their standpoint. If I have to do it, I’ll do it. Maybe I won’t have to do it,” Trump stated in an interview with Fox News as he departed for Alaska to meet with Putin.

On August 6, Trump escalated his tariff strategy against India by imposing an additional 25 percent duty on Indian goods, which he later doubled to 50 percent due to New Delhi’s ongoing imports of Russian oil. This move has drawn condemnation from India, which described the tariffs as “unfair, unjustified and unreasonable.” The tariffs are expected to significantly impact sectors such as textiles, marine, and leather exports. Prime Minister Narendra Modi has previously stated that India would not yield to economic pressure.

As a result of these actions, India is set to face the highest US tariff of 50 percent, alongside Brazil, specifically targeting its Russian oil imports. Both Russia and China have criticized Trump for exerting what they consider illegal trade pressure on India.

According to a Bloomberg report, Indian state-owned refiners have ceased purchasing Russian crude following Trump’s announcement, although the Indian government has not officially confirmed this. Indian Oil Corporation Chairman AS Sahney stated that India continues to buy oil based solely on economic considerations and has not halted its purchases from Russia.

In 2022, India emerged as the largest customer of Russian oil after Western nations imposed sanctions on Moscow due to its invasion of Ukraine. A report from the State Bank of India indicated that India’s crude oil import bill could rise by USD 9 billion this financial year and USD 12 billion the following year if the country stops buying Russian crude. The report also suggested that India could consider sourcing oil from Iraq, its top supplier before the Ukraine conflict, followed by Saudi Arabia and the UAE, should it decide to cut off Russian supplies.

Data intelligence firm Kpler Ltd reported that Russian crude is being offered to Indian buyers at lower prices as European Union sanctions and US penalties cloud the demand outlook.

Source: Original article

Adani Enterprises Reports 74% Increase in Q1 Consolidated EBITDA

Staff ReporterBusiness, Economy 0

Adani Enterprises Ltd. has reported a significant increase in EBITDA from its incubating businesses, highlighting the strength and scalability of its operating model.

Adani Enterprises Ltd. (AEL) has experienced a notable rise in the contribution of earnings before interest, taxes, depreciation, and amortization (EBITDA) from its incubating businesses. This increase underscores the strength and scalability of the company’s operating model.

The growth in EBITDA reflects AEL’s strategic focus on developing and nurturing new infrastructure ventures. As these businesses mature, they are expected to play a crucial role in enhancing the overall financial performance of the company.

Adani Enterprises has been actively investing in various sectors, including renewable energy, logistics, and agribusiness, which are integral to its long-term growth strategy. The company’s commitment to innovation and operational efficiency has positioned it well to capitalize on emerging opportunities in the market.

As AEL continues to incubate and scale its businesses, stakeholders are optimistic about the potential for sustained growth and profitability. The strong performance in EBITDA is a testament to the effectiveness of the company’s approach to business development.

In summary, the substantial increase in EBITDA from incubating businesses is a positive indicator of Adani Enterprises’ operational strength and its ability to adapt and thrive in a competitive landscape.

Source: Original article

Adani Realty Tops Hurun Real Estate List as Most Valuable Unlisted Firm

Staff ReporterBusiness, Finance/Economy 0

Adani Realty has been recognized as the most valuable unlisted real estate company in the ‘2025 GROHE-Hurun India Real Estate 150 list’, announced on Thursday.

Adani Realty has reaffirmed its status as the leading unlisted real estate firm in India, according to the recently released ‘2025 GROHE-Hurun India Real Estate 150 list’. This announcement was made on Thursday, highlighting the company’s significant position in the real estate sector.

The Hurun Report, known for its comprehensive rankings and insights into various industries, has consistently recognized Adani Realty for its robust performance and growth in the competitive real estate market. The 2025 list underscores the company’s continued success and its ability to navigate the challenges of the industry.

Adani Realty’s commitment to quality and innovation has played a crucial role in its ascent to the top of the unlisted real estate rankings. The company has been involved in numerous high-profile projects, contributing to its reputation and financial strength.

As the real estate market evolves, Adani Realty’s strategic initiatives and focus on customer satisfaction have set it apart from its competitors. The firm’s ability to adapt to changing market dynamics while maintaining high standards has been pivotal in achieving this recognition.

This accolade not only reflects Adani Realty’s current standing but also signals its potential for future growth in the real estate sector. The company is poised to continue its upward trajectory, leveraging its strengths to capitalize on emerging opportunities.

According to the Hurun Report, the 2025 GROHE-Hurun India Real Estate 150 list serves as a benchmark for assessing the performance and value of real estate companies across the country. Adani Realty’s position at the top of this list reinforces its status as a leader in the industry.

As the real estate landscape continues to change, stakeholders and investors will be closely watching Adani Realty’s next moves, eager to see how the company will maintain its leadership position in the years to come.

Source: Original article

Sensex and Nifty Fall Amid Concerns Over U.S. Tariff Imposition

Staff ReporterBusiness, Cover, Economy, Politics 0

U.S. President Donald Trump has announced a 25 percent tariff on all goods imported from India, effective August 1, raising concerns in the market.

U.S. President Donald Trump has declared a significant economic measure that is set to impact trade relations between the United States and India. Starting August 1, a 25 percent tariff will be imposed on all goods imported from India. This announcement has sent ripples through financial markets, raising concerns among investors and analysts alike.

In addition to the tariff on Indian goods, President Trump also indicated that there would be unspecified penalties for purchasing Russian crude oil and military equipment. This dual announcement has heightened tensions in international trade and could lead to further complications in U.S.-India relations.

The imposition of tariffs is a strategic move that reflects the ongoing trade negotiations and disputes between the two nations. Analysts are closely monitoring the potential repercussions of this decision, as it could affect various sectors of the Indian economy, including manufacturing and exports.

Market reactions have been swift, with both the Sensex and Nifty indices showing declines as investors digest the implications of the tariff announcement. The uncertainty surrounding trade policies often leads to volatility in stock markets, and this situation appears to be no exception.

As the situation develops, stakeholders from both countries will be watching closely to see how these tariffs will influence trade dynamics and economic growth. The long-term effects of such measures could reshape the landscape of U.S.-India trade relations.

According to NDTV, the announcement has raised alarms among businesses that rely heavily on exports to the U.S., which may now face increased costs and competitive disadvantages.

Source: Original article

Adani Power Reports 27.1% Sequential Growth in Q1 Revenue

Staff ReporterBusiness, Cover, Economy 0

Adani Power reported a remarkable 27.1% sequential increase in its Q1 FY26 revenue, reaching Rs 3,305 crore, compared to Rs 2,599.23 crore in the previous quarter.

Adani Power announced on Friday a significant financial milestone, revealing a 27.1 percent sequential increase in its revenue for the April-June quarter of fiscal year 2026 (Q1 FY26). The company’s revenue reached Rs 3,305 crore, a notable rise from the Rs 2,599.23 crore reported in the preceding quarter (Q4 FY25).

This impressive growth reflects Adani Power’s robust operational performance and strategic initiatives aimed at enhancing its market position. The surge in revenue is indicative of the company’s ability to capitalize on favorable market conditions and demand for power generation.

As one of India’s leading power producers, Adani Power has been focusing on expanding its capacity and improving efficiency across its operations. The company’s commitment to sustainability and renewable energy sources has also played a crucial role in its growth trajectory.

Investors and analysts are likely to view this financial performance as a positive sign of the company’s resilience and potential for future growth. The increase in revenue not only underscores Adani Power’s operational strength but also reflects broader trends in the energy sector.

As the company continues to navigate the evolving energy landscape, stakeholders will be keenly observing its strategies and performance in the upcoming quarters.

According to NDTV, this sequential surge positions Adani Power favorably as it strives to meet the growing energy demands of the country while maintaining a focus on sustainable practices.

Source: Original article

Adani Group Refutes Reports of Partnership with Chinese Firm BYD

Staff ReporterBusiness, Economy, Politics 0

The Adani Group has denied reports of a collaboration with Chinese companies BYD and Beijing Welion New Energy Technology.

The Adani Group has firmly rejected a media report that suggested a partnership with Chinese firms BYD and Beijing Welion New Energy Technology.

This denial comes amid ongoing scrutiny and speculation regarding the Group’s international business dealings.

In a statement released on Monday, the Adani Group emphasized that the claims made in the report were unfounded and inaccurate.

The Group’s response highlights its commitment to transparency and the importance of accurate information in the business landscape.

As the Adani Group continues to expand its operations, it remains focused on strategic partnerships that align with its vision and values.

According to industry analysts, the Group’s proactive stance in addressing such rumors is crucial for maintaining investor confidence and market stability.

The Adani Group’s operations span various sectors, including energy, resources, logistics, agribusiness, real estate, financial services, and defense.

In recent years, the Group has made significant investments in renewable energy and infrastructure, positioning itself as a key player in India’s economic growth.

As the situation develops, stakeholders are advised to rely on official communications from the Adani Group for accurate information regarding its business activities.

Source: Original article

Banks to Clear Cheques Within Hours Starting October 4, RBI Announces

Staff ReporterBusiness, Economy, Finance/Economy 0

The Reserve Bank of India will implement a new system on October 4 that allows for the clearance of cheques within hours, significantly shortening the current processing time.

The Reserve Bank of India (RBI) is set to revolutionize the cheque clearance process with a new mechanism that will take effect on October 4. This initiative aims to reduce the time it takes for cheques to clear from the current period of up to two working days to just a few hours.

This change is expected to enhance the efficiency of banking operations and improve customer satisfaction by providing quicker access to funds. The RBI’s decision comes in response to the growing demand for faster financial transactions in an increasingly digital economy.

With this new system, customers will benefit from a more streamlined process, allowing them to manage their finances with greater ease. The move aligns with the RBI’s broader goal of modernizing the banking sector and ensuring that it meets the needs of today’s consumers.

As the banking landscape continues to evolve, the RBI’s initiative represents a significant step forward in enhancing the speed and reliability of cheque transactions. This change is likely to have a positive impact on both individual customers and businesses that rely on cheque payments.

According to industry experts, the introduction of this mechanism could lead to a shift in how people view cheque payments, making them a more viable option for everyday transactions. The RBI’s commitment to improving the banking experience is evident in this latest development.

Overall, the implementation of quicker cheque clearance is a welcome change for many, as it promises to reduce delays and improve overall banking efficiency.

Source: Original article

Skittles and M&Ms to Transition to Natural Dyes Soon

Staff ReporterBusiness, Health, Politics 0

Mars is set to replace artificial dyes in Skittles and M&Ms with natural alternatives, responding to growing health concerns and regulatory scrutiny.

In a significant shift for the candy industry, Mars, Incorporated has announced plans to replace artificial dyes in its popular products, Skittles and M&Ms, with natural alternatives. This decision comes amid increasing scrutiny over the health implications of synthetic food colorings.

The move is seen as a response to the ongoing campaign led by Health and Human Services Secretary Robert F. Kennedy Jr., who has made artificial dyes a focal point of his health advocacy efforts. Kennedy’s stance has resonated with consumers who are becoming more health-conscious and concerned about the ingredients in their food.

As part of this initiative, Mars aims to enhance the appeal of its products by aligning with consumer preferences for more natural ingredients. The company has stated that it is committed to improving the quality of its offerings while addressing public health concerns.

Natural dyes are derived from various plant sources, offering a more wholesome alternative to synthetic options. This transition could potentially reshape the candy market, as other manufacturers may follow suit in response to consumer demand for transparency and healthier choices.

The decision to switch to natural dyes reflects a broader trend within the food industry, where companies are increasingly prioritizing clean labels and ingredient integrity. As consumers become more educated about food additives, the pressure on brands to adapt has intensified.

While the timeline for the rollout of these changes has yet to be specified, Mars is expected to begin implementing natural dyes in its products in the near future. This move could set a precedent for other confectionery brands, prompting a reevaluation of their ingredient sourcing and production practices.

As the conversation around food safety and health continues to evolve, Mars’ decision may serve as a catalyst for further changes in the industry. The company’s commitment to reforming its product formulations could lead to a more significant shift towards natural ingredients across various food categories.

In conclusion, Mars’ initiative to replace artificial dyes in Skittles and M&Ms with natural alternatives marks a pivotal moment in the candy industry, reflecting changing consumer preferences and the growing demand for healthier food options.

Source: Original article

Adani Ports Reports 21% Revenue Increase in First Quarter

Staff ReporterBusiness, Economy, Politics 0

Adani Ports and Special Economic Zone Limited reported a 21% increase in quarterly revenue, reaching Rs 9,126 crore, fueled by significant growth in logistics and marine operations.

Adani Ports and Special Economic Zone Limited (APSEZ) announced on Tuesday a remarkable 21% increase in its quarterly revenue, amounting to Rs 9,126 crore. This growth is attributed to substantial expansions in both logistics and marine sectors.

The logistics segment saw a twofold increase, while the marine operations experienced an impressive 2.9 times growth. These figures highlight the company’s robust performance in a competitive market.

This surge in revenue underscores APSEZ’s strategic initiatives and operational efficiencies that have positioned it as a leader in the ports and logistics industry.

As the demand for logistics and marine services continues to rise, APSEZ is well-poised to capitalize on these trends, further enhancing its market presence and financial performance.

According to NDTV, the company’s strong quarterly results reflect its commitment to expanding its capabilities and improving service delivery across its various business segments.

Source: Original article

RBI Maintains Rate at 6.5% Amid Economic Concerns

Staff ReporterBusiness, Economy, Politics 0

The Reserve Bank of India has maintained its repo rate at 5.5% amid ongoing pressure on the rupee from U.S. President Donald Trump’s tariff threats.

The Reserve Bank of India (RBI) has decided to keep its repo rate steady at 5.5%. This decision comes as the Indian rupee faces significant pressure, largely attributed to tariff threats issued by U.S. President Donald Trump.

The RBI’s choice to maintain the current rate reflects a cautious approach in light of external economic pressures. The central bank is likely weighing the potential impacts of global trade tensions on the Indian economy.

As the rupee struggles against the dollar, the RBI’s decision aims to stabilize the currency and provide a buffer against further depreciation. The ongoing tariff disputes could have far-reaching implications for trade and investment flows, making it crucial for the RBI to monitor these developments closely.

In addition to the repo rate decision, the RBI’s outlook on India’s GDP growth remains optimistic, projecting a growth rate of 6.5%. This forecast counters the narrative of a “dead economy” suggested by President Trump, indicating confidence in India’s economic resilience.

The RBI’s commitment to maintaining the repo rate at 5.5% is seen as a strategic move to support economic stability while navigating the complexities of international trade relations. As the situation evolves, the RBI will continue to assess the economic landscape and adjust its policies as necessary.

Overall, the RBI’s decision reflects a balance between fostering economic growth and addressing the challenges posed by external factors, particularly the ongoing tariff threats from the United States.

Source: Original article

Adani Power Plans $3 Billion Greenfield Thermal Plant in Bihar

Staff ReporterBusiness, Election, Government 0

Adani Power has announced plans to invest $3 billion in a new 2,400 MW greenfield thermal power plant in Bihar, following the receipt of a Letter of Intent.

Adani Power has officially received a Letter of Intent (LoI) to develop and operate a significant greenfield thermal power plant in Bihar. The project will have a capacity of 2,400 megawatts and represents an investment of $3 billion.

This development marks a substantial commitment by Adani Power to enhance the energy infrastructure in Bihar, a state that has been focusing on improving its power generation capabilities. The new thermal power plant is expected to contribute significantly to the region’s electricity supply.

With this investment, Adani Power aims to bolster its presence in the Indian energy sector, particularly in renewable and thermal power generation. The company has been actively involved in various energy projects across the country, and this new initiative aligns with its strategy to expand its operational footprint.

The establishment of the thermal power plant is anticipated to create numerous job opportunities during both the construction and operational phases. This is expected to have a positive impact on the local economy, providing employment and supporting ancillary industries.

As India continues to face challenges related to energy demand and supply, projects like this one are crucial for ensuring a stable and reliable power supply. The government has been encouraging private investments in the energy sector to meet the growing needs of the population and support economic growth.

Adani Power’s investment in Bihar is part of a broader trend of increasing private sector involvement in the energy market, which is vital for achieving the country’s energy goals. The new plant is expected to play a key role in meeting the energy requirements of the region while also contributing to the overall development of the state’s infrastructure.

As the project progresses, it will be closely monitored by both the company and regulatory authorities to ensure compliance with environmental and operational standards. The focus will be on sustainable practices to minimize the ecological impact of the new facility.

In summary, the establishment of the 2,400 MW greenfield thermal power plant by Adani Power in Bihar represents a significant investment in the region’s energy future, promising to enhance power generation capabilities and stimulate economic growth.

According to NDTV, this initiative underscores Adani Power’s commitment to expanding its energy portfolio and supporting India’s transition towards a more robust energy infrastructure.

Source: Original article

Tata Consultancy Services Announces Wage Hikes Despite Recent Layoffs

Staff ReporterBusiness, Finance/Economy, India 0

Tata Consultancy Services will implement wage hikes for approximately 80% of its workforce, primarily benefiting mid to junior-level employees.

India’s largest IT services company, Tata Consultancy Services (TCS), has announced a significant wage hike for its employees. The company revealed that approximately 80% of its workforce will benefit from this increase, focusing primarily on mid to junior-level positions.

This decision comes at a time when the company is also navigating challenges, including recent layoffs affecting around 12,000 employees. Despite these layoffs, TCS remains committed to investing in its remaining workforce, aiming to enhance employee satisfaction and retention.

The wage hikes are set to take effect from September 1, marking a proactive approach by TCS to support its employees during a period of transition within the company. The management believes that these adjustments will not only boost morale but also help in attracting and retaining talent in a competitive job market.

As the IT sector continues to evolve, TCS’s decision to implement these wage increases reflects its strategy to maintain a motivated and skilled workforce. The company has emphasized the importance of recognizing and rewarding employee contributions, especially in a rapidly changing industry landscape.

In recent years, TCS has been known for its robust employee engagement initiatives and has consistently ranked among the top employers in India. The latest wage hike is expected to reinforce this reputation, ensuring that employees feel valued and supported.

With the ongoing challenges in the global economy, TCS’s commitment to its employees through wage increases is a positive signal in the IT sector. The company aims to navigate these complexities while fostering a culture of growth and development.

As TCS prepares for the implementation of these wage hikes, employees are hopeful that this move will lead to improved job satisfaction and a more stable work environment. The company’s leadership is optimistic that these changes will contribute to a stronger organizational culture and better overall performance.

In conclusion, TCS’s decision to raise wages for a significant portion of its workforce underscores its dedication to employee welfare, even amidst the backdrop of layoffs. This initiative is a testament to the company’s long-term vision of sustaining a motivated and engaged workforce, essential for navigating the challenges of the IT industry.

Source: Original article

Sensex and Nifty Fall as US Doubles Tariffs on Indian Goods

Staff ReporterBusiness, Economy, Politics 0

Benchmark equity indices Sensex and Nifty fell in early trading on Thursday following the announcement of increased U.S. tariffs on Indian goods due to ongoing imports of Russian oil.

In early trade on Thursday, the benchmark equity indices in India, Sensex and Nifty, experienced a decline. This downturn was triggered by a significant policy change from the United States.

U.S. President Donald Trump announced an additional 25 percent duty on Indian goods, effectively doubling the tariff to 50 percent. This decision comes in response to India’s continued imports of Russian oil, a move that has drawn criticism from the U.S. government.

The increase in tariffs is expected to have a ripple effect on various sectors of the Indian economy, particularly those that rely heavily on exports to the United States. Analysts are closely monitoring the situation, as the implications of these tariffs could lead to a reevaluation of trade strategies between the two nations.

Market reactions to the announcement were immediate, with both Sensex and Nifty showing signs of stress as investors reacted to the potential for increased costs and reduced competitiveness in the global market.

As the situation develops, stakeholders in both countries will be watching closely to assess the long-term impacts of these tariffs on trade relations and economic performance.

According to NDTV, the ongoing geopolitical tensions and trade disputes are likely to influence market sentiment in the coming days.

Source: Original article

Toyota Lowers Profit Forecast Due to Potential Tariff Impacts

Staff ReporterBusiness, Economy, Politics 0

The Trump administration’s recent tariffs on Japanese car imports have prompted Toyota to revise its profit forecast downward, highlighting the impact on Japan’s automotive industry.

The Trump administration has imposed a significant 25 percent tariff on Japanese cars imported into the United States, a move that has sent shockwaves through Japan’s vital auto sector.

This tariff, enacted in April, is part of a broader trade strategy that has raised concerns among Japanese automakers, including industry giant Toyota. The decision to levy such a high tariff is seen as a direct challenge to Japan’s automotive exports, which play a crucial role in the country’s economy.

As a result of these tariffs, Toyota has announced a downward revision of its profit forecast. The company is grappling with the financial implications of the increased costs associated with exporting vehicles to the U.S. market. This adjustment reflects the broader uncertainty that many Japanese manufacturers are facing in light of changing trade policies.

The automotive industry in Japan has long been a cornerstone of the nation’s economy, contributing significantly to both employment and export revenues. With the introduction of these tariffs, the future of this sector appears increasingly precarious.

Analysts are closely monitoring how these tariffs will affect not only Toyota but also other Japanese automakers, as they navigate the challenges posed by the U.S. trade environment. The potential for retaliatory measures from Japan could further complicate the situation, leading to a cycle of escalating trade tensions.

In response to the tariffs, Toyota and other manufacturers may need to reassess their production strategies and supply chains. This could involve shifting production to other countries or increasing prices for consumers in the U.S. market, ultimately affecting sales and profitability.

The implications of these tariffs extend beyond just the automotive industry. They could also impact related sectors, including parts suppliers and service providers, creating a ripple effect throughout the economy.

As the situation develops, stakeholders in the automotive industry will be watching closely to see how these tariffs influence not only Toyota’s operations but also the broader landscape of international trade.

According to industry experts, the long-term effects of these tariffs could reshape the dynamics of the global automotive market, as companies adapt to new realities in trade and competition.

Source: Original article

Top Analyst Suggests Buying Dips in New Bull Market

Staff ReporterBusiness, Finance/Economy, Science & Technology 0

The end of a bear market in April and subsequent market activity signal the beginning of a new bull market, according to Morgan Stanley’s Mike Wilson, who advises investors to keep buying market dips.

The stock market’s tumultuous selloff in April has marked the end of a bear market and ushered in a new bull market, according to Mike Wilson, Morgan Stanley’s chief U.S. equity strategist and chief investment officer. In recent comments, Wilson explained that while market volatility is to be expected, it should not deter investors from buying on market dips, as he believes the bull market remains in its early stages.

Wilson shares a perspective that may alleviate growing concerns regarding a potential U.S. recession. He notes that the nation experienced a “rolling recession” over the last three years, which has now concluded. The sharp downturn in the stock market witnessed in April, exacerbated by unexpected tariffs introduced by then-President Donald Trump, marked the definitive end of the bear market, Wilson shared during an interview on Bloomberg TV.

“Now we’re in a new bull market, and capital markets activity is just another sign that that analysis, or that conclusion, is probably correct,” he said.

Wilson highlighted that any market turbulence or consolidation phases along the way are not just normal but favorable compared to a market that climbs continuously without correction, as seen in 2020. The recent trajectory of the stock market, characterized by sharp drops followed by swift recoveries—typified as a V-shaped recovery—reflects this sentiment.

In April, the S&P 500 plummeted nearly 20% from its previous high but has since rebounded by approximately 30%, achieving new record highs and a year-to-date increase approaching 9%.

Despite the impressive recovery, Wilson predicts interim moderation in the stock market during the third quarter, presenting an opportunity for continued investment in the rally.

“I want to be very clear: it’s still early in the new bull market, so you want to be buying these dips,” Wilson stated.

In a note circulated last month, Wilson proposed that the S&P 500 could potentially reach 7,200 by mid-2026, suggesting that he leans towards a more optimistic, “bull case” scenario. His predictions are underpinned by robust corporate earnings, increased AI integration, a weakened dollar, Trump-era tax cuts, pent-up consumer demand, and anticipated Federal Reserve interest rate cuts in early 2026.

Wilson’s outlook aligns with an emerging wave of optimism among leading Wall Street analysts, who are growing increasingly hopeful as trade tensions ease, facilitated by new trade agreements.

Reflecting this sentiment, John Stoltzfus, Oppenheimer’s chief investment strategist, raised his S&P 500 target for 2025 from 5,950 to 7,100, restoring his December 2024 forecast. Should the S&P 500 achieve this milestone, it would indicate a 21% gain for the year, marking a third consecutive year of substantial growth not witnessed since the booming U.S. economy of the late 1990s.

The vigorous dip-buying activities by retail investors, contrasted by cautious stances among institutional investors, have further propelled the market. However, the success of buying dips has made it increasingly challenging as investors race to capitalize on the slightest market declines, which in turn accelerates recoveries.

Steve Sosnick, chief strategist at Interactive Brokers, told CNBC that the lifespan of market dips continues to shorten as investors, anxious to seize opportunities, rush to purchase at the first hint of a downturn. He advised against impulsive dip-buying, recommending instead that investors perform thorough analysis to pinpoint stocks of genuine value.

Sosnick warned of the risks that accompany hasty dip-buying strategies, including the potential of investing in stocks that persistently decline in value. “The market has a way of making the maximum number of people wrong at the most inopportune time,” he added.

With the market poised at the dawn of what Wilson and other strategists see as a promising bull phase, it remains imperative for investors to stay informed and exercise discernment in navigating potential opportunities and pitfalls.

Source: Original article

Kerala Liquor Body Proposes Home Delivery Service

Staff ReporterBusiness, India 0

Kerala’s state-run beverages corporation, BEVCO, has proposed a plan for home delivery of liquor to increase revenue and reduce overcrowding at retail outlets.

The Kerala State Beverages (Marketing & Manufacturing) Corporation Limited, known as BEVCO, has submitted a proposal to the state government to initiate home delivery of liquor through online sales. This plan is part of a broader strategy to boost state revenue and manage congestion at retail stores.

Implementing such a system would necessitate changes to Kerala’s Abkari Act, which currently governs alcohol distribution in the state. According to the proposal, individuals aged 23 and above would be allowed to order alcohol online, contingent on mandatory age verification. This move is expected to not only streamline the sales process but also enhance state revenue significantly.

This isn’t the first time Kerala has explored digital solutions to manage liquor sales. During the COVID-19 lockdown, the state introduced a virtual queue system through an app to control crowding at liquor stores. However, home delivery wasn’t made available to the general populace during that period. A temporary exception was made to deliver liquor to individuals experiencing withdrawal symptoms upon presentation of a doctor’s prescription.

Comparing with neighboring states, Kerala operates relatively few retail liquor outlets. BEVCO manages approximately 278 stores, which is considerably fewer on a per capita basis than in states like Tamil Nadu and Karnataka. This shortfall is a key factor behind the lengthy queues and crowded conditions at these retail locations, an issue BEVCO hopes to alleviate through home delivery.

Alcohol consumption in Kerala is notably high, and liquor sales represent a crucial revenue stream for the state. In the 2023-24 fiscal year, sales exceeded Rs 19,000 crore, marking it as one of the largest income sources. The state government depends heavily on this income to finance various public services and infrastructure initiatives.

Proponents of BEVCO’s proposal argue that home delivery will not only boost overall liquor sales—particularly of premium brands—but also increase government revenue. Additional advantages cited include easing long queues and reducing the crowded conditions prevalent at retail outlets, which are frequently criticized for their inadequate facilities, especially affecting women and the elderly.

Despite its potential benefits, the proposal is met with significant opposition. Social and anti-alcohol groups contend that the home delivery system could exacerbate alcohol consumption and related issues, like alcoholism. There are also apprehensions about the risk of underage drinking, notwithstanding the proposed age verification procedures. Moreover, political pushback and resistance from traditional retail associations have historically posed substantial challenges to similar initiatives.

While Kerala is deliberating this proposal, several other Indian states have already implemented or tested liquor home delivery services. States such as Odisha and West Bengal currently permit home delivery of alcohol. During the COVID-19 lockdowns, states like Maharashtra, Jharkhand, and Chhattisgarh temporarily adopted this model to prevent virus spread.

Further, regions including Delhi, Karnataka, Haryana, and Punjab have also experimented with pilot programs, often collaborating with renowned online delivery platforms like Swiggy and Zomato to align with evolving consumer preferences and increase tax revenues.

The proposal from BEVCO continues to be evaluated as Kerala weighs the potential economic and social impacts of initiating home delivery for liquor sales.

Moody’s: Tariffs Could Impact India’s Manufacturing Ambitions

Staff ReporterEconomy, Global 0

President Donald Trump’s proposed 50% tariffs on Indian imports could significantly hinder India’s manufacturing aspirations and impede economic growth, according to a Moody’s Ratings report.

The 50% tariffs that President Donald Trump has proposed imposing on Indian imports are likely to have a substantial impact on India, according to Moody’s Ratings. The organization warned that these measures could greatly impair India’s efforts to bolster its manufacturing sector, as well as slow down the country’s economic growth.

Moody’s indicated that India’s real GDP growth may decrease by approximately 0.3 percentage points from the current forecast of 6.3% for the fiscal year ending March 2026. This potential decline is attributed to the significant increase in tariffs, which could make India less competitive compared to other countries in the Asia-Pacific region.

Beyond 2025, Moody’s projects that the wider tariff gap—especially when compared to other countries in the Asia-Pacific—would greatly restrict India’s manufacturing ambitions. This is particularly concerning for the higher value-added sectors such as electronics, which have seen notable investment interest in recent years.

The report also highlighted the issues surrounding India’s energy supply. Reducing imports of Russian oil to avoid penalty tariffs could put pressure on India to find alternative crude supplies, which might not be available in sufficient quantities. This shift would likely increase India’s import bill, aggravating the current account deficit.

Amid these challenges, the weakened tariff competitiveness resulting from the proposed U.S. tariffs might deter investment inflows, further widening the current account deficit.

Despite these concerns, Moody’s expressed optimism that a negotiated solution could be found, positioning the final outcome somewhere between the extremes described in their analysis.

According to Investing.com, the analysis emphasizes the risk posed to India’s economic growth and manufacturing aspirations by the proposed tariffs and calls attention to the broader impacts on geopolitical and trade relations.

Trump and Miller Alter US Higher Education for International Students

Staff ReporterBusiness, USA 0

The Trump administration’s strategy to reshape U.S. higher education by imposing restrictions on international students has raised concerns about financial sustainability, technological competitiveness, and the academic landscape.

In recent developments, the Trump administration has leveraged financial pressures and legal settlements to compel American universities to reduce their reliance on enrolling international students. This shift, led by White House Deputy Chief of Staff Stephen Miller, suggests a broader move to reshape higher education’s engagement with the world, where ideological motivations take precedence over economic rationale.

The crux of this initiative lies in a landmark agreement with Columbia University, finalized on July 23, 2025. While the public discourse centered on the university’s handling of antisemitic incidents, the detailed agreement disclosed an objective to diminish financial dependency on international tuition—a measure that might soon serve as a national exemplar.

This clause challenges conventional financial strategies since international students typically pay higher tuition, offsetting financial aid and public funding deficits. Nearly 40% of Columbia’s student body comprises international students, making this agreement a potential threat to the university’s fiscal framework. Yet, it appears that the administration is willing to accept these risks in pursuit of broader goals beyond the academic domain.

Miller, a known proponent of restricting immigration pathways, has now focused his energies on education policies. Alongside strategist May Mailman, Miller has engaged in confidential discussions with university officials nationwide to integrate policy concessions, particularly those limiting international student enrollment. Brown University, which is currently under investigation but has a lower percentage of international students, has not been required to adopt similar enrollment conditions, indicating that institutions deemed overly globally oriented or against the administration’s nationalist stance are particularly targeted.

The economic implications of such policies are substantial. According to the NAFSA: Association of International Educators, international students contributed nearly $44 billion to the U.S. economy and were responsible for supporting over 378,000 jobs during the 2023–2024 academic year. A significant reduction, estimated between 30% to 40%, in new international enrollments could severely impact both university budgets and local economies.

International students are also disproportionately represented in rigorous fields, making up 71% of full-time graduate students in computer science and 73% in electrical and computer engineering in 2025. Limiting their admission not only threatens the vitality of academic departments but also undermines the nation’s technological innovation and competitiveness.

Beyond enrollment restrictions, the administration is proactively dismantling systems that facilitate international students remaining and working in the U.S. after graduation. Notably, Joseph Edlow of the U.S. Citizenship and Immigration Services has announced intentions to eliminate Optional Practical Training (OPT) and STEM OPT extensions. Concurrent revisions to the H-1B visa process, emphasizing salary-based selection, pose additional barriers to recent graduates seeking employment.

The proposed abolition of the “duration of status” policy, which currently permits students to remain in the U.S. throughout their studies, would add bureaucratic challenges, increasing the risk of interruptions and deportation.

The overall demographic trends underscore the significance of expanding international enrolment. As U.S.-born college-age populations decline, economist Madeline Zavodny predicts that absent international students and the offspring of immigrants, the U.S. could face a loss of 5 million undergraduates and over a million graduate students by 2037.

International students not only bolster student numbers but also enhance the academic milieu. Their presence drives institutional investments in STEM fields, further benefiting domestic students by cultivating more enriched learning environments. Far from displacing U.S. students, international peers likely contribute positively to educational experiences.

Furthermore, the implications for U.S. innovation are profound. Around one-quarter of U.S.-based billion-dollar startups were established by individuals who had initially arrived as international students, emphasizing the significant role they play in American ingenuity and success.

Recent calls by Trump to impose a 15% cap on international enrollment at elite institutions like Harvard underscore a strategic insularity. However, such isolationist tendencies neglect the value of global academic exchange in sustaining U.S. prosperity.

The Columbia agreement is emblematic of potential nationwide policy shifts, blending immigration limitations with educational governance. With more than 50 other universities under scrutiny, this model may soon proliferate nationally, threatening not just university independence but also the foundational ideals of intellectual openness and global engagement.

Through this lens, the administration’s integration of anti-immigration goals into higher education reform serves to redefine universities as instruments of nationalism rather than facilitators of global understanding. While economic repercussions and academic fallout are apparent, the erosion of America’s global leadership in education could represent the most lasting impact.

America’s Fastest Train Debuts in NYC This August

Staff ReporterUSA, Business 0

Amtrak is set to introduce its NextGen Acela, the fastest train in America, on the Northeast Corridor, signaling a transformation in U.S. rail travel with an emphasis on speed, comfort, and sustainability.

Amtrak has announced the scheduled launch of its NextGen Acela, anticipated as the fastest train in America. This cutting-edge locomotive will begin its service on the Northeast Corridor starting Thursday, August 28, promising quicker and more efficient travel between New York City, Boston, and Washington, D.C.

The debut of this new train establishes a modern standard for American rail travel. Designed by global rail manufacturer Alstom and assembled in Hornell, New York, the NextGen Acela represents a leap forward for the U.S. train industry. Capable of reaching speeds up to 160 mph, Amtrak plans to have 28 of these new trains operating by 2027, with the first five entering service in August.

This development presents significant opportunities for travelers in New York City. Whether it’s a spontaneous weekend getaway or a business trip, passengers can look forward to new travel possibilities departing from Penn Station. The train offers an array of modern amenities, such as USB ports, high-speed Wi-Fi, and comfortable seating with ample legroom, which enhance the travel experience. The NextGen Acela also features 27% more seating capacity and expanded service schedules during weekdays and weekends, making trips to Washington, D.C. or Boston more accessible than ever.

Amtrak President Roger Harris highlighted the transformative nature of the new train, stating, “NextGen Acela is more than a new train—it’s an evolution of travel.” Indeed, it ushers in a new era of rail travel within the United States, marking a milestone with its upcoming launch.

The NextGen Acela is engineered for comfort and efficiency, boasting features sought after by today’s travelers. These include ergonomic seating, large windows for panoramic views along the East Coast, and comprehensive onboard services such as food and drink from Café Acela, as well as free 5G-enabled Wi-Fi. This first-class approach to rail travel aims to provide a superior experience for all passengers.

Booking a seat on the NextGen Acela is designed to be straightforward, with options available via the Amtrak app, website, or at station kiosks. As the official launch approaches, Amtrak plans to release further information on how to book tickets for these new trains alongside the ongoing operation of the current Acela models.

Beyond convenience, the NextGen Acela represents a commitment to sustainable transportation. Built employing the skills of workers from the Machinists Union and incorporating components from over 180 suppliers across 29 states, the project is estimated to have generated 15,000 U.S. jobs. It also offers an environmentally friendlier alternative to short-haul flights or driving, aligning with broader ecological goals.

This new addition to Amtrak’s fleet is a pivotal element of the company’s extensive modernization plan, which includes upcoming Amtrak Airo trains scheduled for other corridors, more efficient long-distance locomotives, and interior upgrades across various train cars. This comprehensive initiative is part of Amtrak’s vision for the future of rail travel, aiming to improve efficiency and passenger experience across its network.

According to Secret NYC, the introduction of the NextGen Acela marks a significant step forward in American transportation, offering a glimpse into the future of high-speed rail travel.

Indian-Origin CEO Reshma Kewalramani on Fortune’s List with Ambani

Staff ReporterBusiness, Cover, Pharmaceuticals 0

Reshma Kewalramani’s remarkable journey from Mumbai to becoming the CEO of Vertex Pharmaceuticals highlights her influence as one of the most powerful and wealthy women of Indian origin in global business.

Reshma Kewalramani, an Indian-origin CEO, stands as a testament to global leadership in biotechnology. Having moved to the United States at the age of 11, she now leads Vertex Pharmaceuticals, a distinguished Fortune 500 biotech company. Kewalramani’s breakthrough career trajectory is marked by her notable rise in the business world, fortified by her academic accomplishments and professional competencies.

Kewalramani, MD, FASN, serves as both the Chief Executive Officer and President of Vertex Pharmaceuticals. Entering the company in 2017, she rapidly ascended the corporate ladder, initially serving as Chief Medical Officer and Executive Vice President of Global Medicines Development before assuming the CEO role in 2020. Her tenure has been transformative, securing approvals for five groundbreaking drugs aimed at treating the root causes of cystic fibrosis (CF), thereby significantly improving the quality of life for numerous patients.

Kewalramani’s educational journey is rooted in medicine, having obtained her medical degree with honors from the seven-year program at the Boston University Chobanian & Avedisian School of Medicine. She further honed her skills, completing both her internship and residency in internal medicine at Massachusetts General Hospital, followed by a fellowship in nephrology as part of the joint program between Mass General and Brigham and Women’s Hospital. Her leadership capabilities were enhanced by completing the General Management Program at Harvard Business School, adding significant value to her diverse skill set.

A recognized Fellow of the American Society of Nephrology, Kewalramani’s contributions to healthcare and leadership have garnered significant recognition. Her inclusion on both the TIME 100 Most Influential People in the World and TIME 100 Health lists underscores her lasting impact and visionary stature in the biotech sector.

Within this elite corporate sphere, she shares global influence with notable leaders such as Jensen Huang, CEO and co-founder of Nvidia, who topped Fortune’s 2025 list of the world’s 100 most powerful businesspeople. Huang, along with other technology titans like Microsoft’s Satya Nadella, Meta’s Mark Zuckerberg, Alphabet’s Sundar Pichai, and Huawei’s Ren Zhengfei, epitomizes fierce competition at the pinnacle of corporate leadership, all striving for advancement and innovation.

Source: Original article

Tesla Leases 51,000 Sq Ft in Gurugram for ₹40 Lakh/Month

Staff ReporterBusiness, India 0

Tesla has secured a new lease for nearly 51,000 square feet of space in Gurugram to accommodate a service center, warehouse, and retail outlet, continuing its expansion in India after opening its first location in Mumbai.

Elon Musk’s Tesla India Motor & Energy Pvt Ltd has signed a lease for nearly 51,000 square feet of super built-up area at Orchid Business Park on Sohna Road in Gurugram. This marks the company’s second commercial space in India following its Mumbai debut last month.

The leased area includes a 33,475 square foot chargeable section from Garwal Property Pvt Ltd. It will function as a service center, warehouse, and retail outlet. The lease is set to begin on July 15, 2025, and was registered on July 28, according to documents reviewed by CRE Matrix.

The lease has an initial monthly rent of ₹40.17 lakh, with an annual escalation of 4.75%. Over the nine-year term, the rent will increase incrementally each year: ₹42.07 lakh in the second year, ₹44.07 lakh in the third year, and so forth until reaching ₹58.22 lakh in the ninth year.

The landlord’s share of the property is divided among Suncity Real Estate LLP, with a 21% share, Orchid Infrastructure Developers Pvt Ltd, which holds 3.06%, and Garwal Property Pvt Ltd with the largest share of 75.94%. Rent payments are stipulated to be made before the seventh day of each month.

The facility also includes 51 parking spaces and required a security deposit of ₹2.41 crore for the nine-year term.

Alongside this expansion, Tesla plans to inaugurate a showroom in Delhi’s Worldmark Mall, Aerocity, on August 11. Efforts to reach Tesla and Garwal Property Pvt Ltd for comments were unsuccessful.

Previously, Tesla leased 24,565 square feet of warehouse space at Lodha Logistics Park in Mumbai’s Kurla area for ₹24.38 crore over a five-year term, highlighting the company’s strategic push into the Indian market.

Source: Original article

Airline Named Most Recommended Global Brand in 2025

Staff ReporterBusiness, Global 0

Emirates has been named the Most Recommended Global Brand for 2025 by YouGov, earning the highest recommend score among brands worldwide.

Emirates, based at Dubai International Airport, received the prestigious accolade with a Recommend score of 88.4%, positioning it as the leading brand over all international competitors. This achievement highlights the airline’s significant customer satisfaction and loyalty, as it was the only carrier to make it into the global top 10 list.

The 2025 YouGov Recommend Rankings, developed through insights from BrandIndex, assess brand advocacy by measuring the likelihood of current customers recommending a brand to others. Emirates’ performance notably surpassed the next closest brand, Toyota, which achieved a score of 84.7%.

The rankings were derived from over one million surveys conducted between June 1, 2024, and May 31, 2025, across 28 global markets. The scores were weighted according to market size and customer base, providing Emirates a data-supported lead over other prominent brands such as Levi’s, adidas, Nintendo, and Nike.

Sir Tim Clark, President of Emirates, attributed the airline’s success to its commitment to quality, innovation, and customer care, stating, “This recognition underscores the deep connection and loyalty we’ve built with passengers… to do so with care, reliability, and excellence.”

Throughout the first half of 2025, Emirates showcased a strong operational momentum with strategic expansions and investments focused on customer-centric improvements. The airline launched new routes, including three fresh destinations with Hangzhou set to follow, redesigned nine retail stores across Asia, Africa, and Europe, and introduced the Airbus A350 to ten cities. In addition, Emirates became the world’s first Autism Certified Airline™, demonstrating its commitment to inclusive travel.

Looking ahead, the airline plans to upgrade its aircraft, including the Boeing 777, Airbus A380, and A350, on nearly half its global network by December 2025, reaching over 70 cities. With 2 million Premium Economy seats expected to be offered, luxury travel will become more accessible to passengers.

This global recognition for Emirates follows multiple regional honors, including being named the Most Recommended Brand in the UAE with a score of 92.6% and having the most satisfied customers among US flyers according to YouGov’s 2024 US Airlines Report. Additionally, Emirates holds strong brand consideration among Millennials and Gen Z in the United States, reinforcing its reputation as a top-rated airline across diverse demographics and geographies.

In the 2025 YouGov Global Rankings, Toyota followed Emirates with a score of 84.7%, maintaining its brand strength despite global trade challenges. Levi’s, adidas, Nintendo, and Nike rounded out the top competitors, each with notable achievements in their industries.

According to YouGov, the rankings are based on daily survey responses from over 1 million customers across 28 markets, evaluating the likelihood of current customers to recommend a brand. Scores are tailored to account for the customer base size in each market.

Emirates’ top ranking in 2025 is a testament to its dedication to providing premium service offerings and consistent investment in enhancing the passenger experience across its global network.

Google CEO Sundar Pichai Addresses IT Layoffs with Employees

Staff ReporterBusiness, Cover, Technology 0

Google CEO Sundar Pichai has urged employees to do more as the tech giant navigates challenges brought on by widespread layoffs in the IT industry, primarily due to artificial intelligence advancements and economic uncertainties.

Amid a bleak outlook for the global IT sector, Google CEO Sundar Pichai has issued a directive to his workforce with a simple but significant message: “I think we have to accomplish more.” This statement was made in an internal town hall meeting and reiterated through a company-wide memo directed at Google’s employees worldwide, emphasizing the need for increased productivity, innovation, and responsible corporate behavior.

Pichai’s communication emerges at a pivotal time for Google and its parent company, Alphabet, both of which are facing increasing competition in emerging fields such as artificial intelligence (AI) and cloud services. These challenges are compounded by broader economic pressures prompting major firms to reconsider and restructure their human capital.

In his message to employees, Pichai underscored the expectation that “The world is looking to Google for leadership and responsible innovation.” He urged employees to push their limits, work more smartly, and elevate the standards of success. Google aims to channel its resources strategically into areas considered key for future growth. These priorities include making substantial investments in AI, developing cutting-edge climate technology, and creating next-generation search experiences.

Pichai highlighted the importance of speeding up execution to rapidly convert ideas into tangible outcomes. He insisted on optimizing internal operations, eliminating redundancies, and enhancing collective team productivity by reviewing projects to ascertain their alignment with Google’s strategic targets.

Moreover, Brian Saluzzo, a leading figure at Google, stressed the importance of equipping software engineers with advanced tools to make “everybody at Google be more AI-savvy.” This involves integrating AI into coding processes to address leading needs and accelerate development timelines.

To support these initiatives, Saluzzo mentioned the creation of a robust suite of AI products designed for employees to facilitate faster progress. A focal point of this development is a platform called “AI Savvy Google,” which acts as a central resource hub. It offers diverse resources, including specialized courses, practical toolkits, and engaging learning sessions, to help employees better navigate the AI landscape.

According to Financial Express, these moves reflect Google’s proactive approach to maintaining its competitive edge while adapting to rapidly evolving technological and economic landscapes.

Tesla Grants Millions in Shares to CEO Musk Worth $29 Billion

Staff ReporterBusiness, Profile 0

Tesla has awarded Elon Musk a $29 billion stock grant in response to his transformative leadership, despite recent controversies affecting the company’s performance.

Tesla Inc. presented an extensive stock grant to its CEO and leader, Elon Musk, on Monday, valued at a striking $29 billion. This award acknowledges Musk’s impactful role in the substantial growth of the electric vehicle company, though recent political controversies have negatively influenced the company’s market performance.

The substantial grant comprises 96 million in restricted shares, marking the first payment Musk has received in years after his 2018 compensation package was invalidated by a Delaware court. This latest reward follows a court decision that once again nullified Musk’s previous compensation package just eight months ago. Tesla is contesting the ruling on appeal.

In its public statement, Tesla described the grant as a “first step, good faith” initiative to ensure Musk’s continued leadership. The company emphasized his significant contributions not only to Tesla but also through his roles with SpaceX, xAI, and other ventures. Recently, Musk has expressed a need for increased shares and control to shield himself from confrontations with shareholder activists.

Acknowledging Musk’s contributions, the company highlighted a $735 billion increase in Tesla’s market value since 2018. However, this year, Tesla’s stock has faced a 25% decline, primarily attributed to backlash over Musk’s affiliations with former President Donald Trump, in addition to rising competition from traditional and Chinese automakers.

In a challenging financial quarter, Tesla reported a significant drop in profits, from $1.39 billion to $409 million, coupled with reduced revenue that fell short of even lowered Wall Street expectations.

Investors have expressed increasing concern regarding Tesla’s current direction, especially as Musk has been heavily engaged in political activities in Washington, D.C., aligning with the Trump administration’s efforts to reduce the size of the U.S. government.

In the regulatory filing, Tesla specified that Musk is obliged first to pay the company $23.34 per share of the restricted stock when it vests, aligning with the exercise price per share set in his 2018 compensation package.

The compensation controversy stems from a lawsuit filed by a Tesla stockholder, who contested the legitimacy of Musk’s 2018 pay package, which could potentially reach a maximum value of $56 billion depending on the company’s stock performance. Delaware Chancellor Kathleen St. Jude McCormick reaffirmed her decision to revoke Musk’s previous compensation package, which she claimed was a result of misleading negotiations with non-independent directors.

Musk, one of the world’s wealthiest individuals, appealed the court’s decision in March. Subsequently, in April, Tesla announced plans to form a special committee to reassess his compensation as CEO.

Wedbush Securities analyst Dan Ives commented that the new stock grant might help to ease some of the anxiety among Tesla shareholders. “We believe this grant will now keep Musk as CEO of Tesla at least until 2030 and removes an overhang on the stock,” Ives stated in a client note. “Musk remains Tesla’s big asset and this compensation issue has been a constant concern of shareholders once the Delaware soap opera began.”

Recently, Tesla scheduled an annual shareholders meeting for November to comply with Texas state regulations, following pressure from over 20 Tesla shareholders. These shareholders have witnessed a dramatic decline in Tesla’s stock value and requested public notification of the upcoming annual meeting.

Despite the company’s operational challenges, Tesla experienced nearly a 2% rise in its stock during midday trading on Monday, according to Associated Press.

Fed Interest Rate Cut Likely After Labor Department Data Release

Staff ReporterBusiness, Economy, Money 0

Investor anticipation for a Federal Reserve interest rate cut has surged following weaker-than-expected U.S. labor data and significant leadership changes within the Federal Open Market Committee.

As the new week begins, confidence among investors for a cut in the base interest rate by the Federal Reserve has grown substantially. This comes after the latest U.S. labor data revealed a notable shortfall, with July’s payroll growth at just 73,000 compared to forecasts of around 100,000. Additionally, previous figures for May and June have been significantly revised down, suggesting deeper vulnerability in the job market. The probability of a rate cut in September now stands at 87%, influenced further by the resignation of FOMC member Adriana Kugler, potentially paving the way for a more dovish trajectory at the Fed.

Until the data revision, analysts were doubtful that the Federal Reserve would opt for an interest rate cut. However, the recent adjustments to the employment numbers have shifted many to speculate that a rate reduction might be on the table, particularly aligning with President Trump’s calls for cheaper money to stimulate economic activity amidst labor market concerns.

The Labor Department’s report last Friday not only highlighted July’s underwhelming payroll numbers but also included downward revisions totaling a reduction of 258,000 for May and June. This disclosure has ignited discussions on the frail state of the labor market, where the three-month average gain now rests at 35,000, a stark sign of potential economic fragility.

In response to these revisions, President Trump dismissed Erika McEntarfer, the Bureau of Labor Statistics commissioner, expressing dissatisfaction over the mishandling of employment statistics. As investors come to grips with these developments, attention also veers towards upcoming trade-related volatility, given Trump’s tariff deadline set for August 7.

Kugler’s resignation from the FOMC provides President Trump an opportunity to appoint a new member who might be sympathetic to his stance on lowering the base rate. This possibility increases optimism among analysts hoping for a path towards interest rate normalization.

Before the New York markets opened this week, the market atmosphere reflected investor sentiments: the S&P 500 had closed down 1.6%, and the Nasdaq was down 2.24% last Friday. Across the Atlantic, London’s FTSE 100 rose 0.3%, and Germany’s DAX rose 1.1%. However, S&P futures indicated a 0.65% rise, pointing to some investors buying the dip.

In Asia, where expectations for imminent trade deals with China or India remain dim, Japan’s Nikkei 225 decreased by 1.25%, while India’s Nifty 50 saw an increase of 0.65%. Anticipations build around September when many analysts expect Fed Chairman Jerome Powell to announce a rate cut, potentially hinting at such a shift during the forthcoming Jackson Hole Symposium.

The volume of trading in the CME’s 30-Day Federal Funds futures and options dramatically increased between July 31 and August 1, driven by the altered labor data, indicating a strong expectation for a base rate drop to around 3.75%, equivalent to two cuts by the Fed. Markets are pricing in more cuts by the end of the year.

The economic outlook’s unexpected downgrade was not the ideal scenario for rate cuts, as investors had hoped for stable inflation levels to encourage such moves. Nonetheless, some, like Deutsche Bank’s Jim Reid, point out the Fed’s potential to pivot given the recent changes in key personnel and economic data. He highlights the increased probability of a rate cut as Fed members may reassess their positions in light of the revised payroll data.

Reid further suggested that the current scenario offers President Trump a chance to appoint a dovish member to the Fed, possibly aligning with his economic agenda. Present member dissenters, who were Trump appointees, contribute to the conversation surrounding potential shifts within the Fed’s approach.

Alongside these developments, Macquarie analysts now anticipate a swifter timeline for interest rate cuts, tying their predictions directly to the labor market’s latest performance. David Doyle from Macquarie notes that while September’s cut chances have risen, the decision lies with future employment and inflation data developments.

Fed Chairman Jerome Powell had previously underscored the importance of maintaining a delicate balance between inflation and employment. He remarked on the need for attentiveness to potential risks in employment while promising that upcoming data would better inform the Fed’s future monetary policy.

In contrast, Bernard Yaros from Oxford Economics remains cautious in reevaluating the company’s forecast, suggesting that the recent labor report poses challenges, yet is not conclusive enough to forecast immediate rate cuts.

The market activity before the New York opening bell reflected a mixed but upward tilt: S&P 500 futures were up 0.7% premarket, Europe’s STOXX 600 alongside the FTSE 100 and China’s CSI 300 showed gains, while Japan’s Nikkei 225 faced declines. Bitcoin remained stable at approximately $114,551.

This information outlines the economic landscape as shaped by recent labor data and emerging monetary policy expectations.

Source: Original article

India Advancing With Digital Currency e₹ (e-rupee)

Mathew Joys, Las VegasEconomy, Technology 0
Cryptocurrencies, especially Bitcoin, have gained considerable global attention, but a significant development is also taking place in India with the launch of the “e-rupee,” or digital currency, by the Reserve Bank of India (RBI). This initiative represents a crucial advancement in the evolution of money.
INDIA ADVANCING WITH DIGITAL CURRENCY 1The e₹ (e-rupee) is set to function as legal tender in a digital format, with major banks in India gradually informing their customers about its applications. The objective is to integrate digital currency into everyday financial transactions, much like how ATMs and credit cards are used today.
The e-rupee introduces a new category of currency that is coded, sovereign, and programmable, which could redefine our understanding of currency value and financial interactions. This transition promises not only greater convenience but also empowers individuals to have increased control over their financial futures. Through this initiative, India is positioning itself as a leader in a transformative financial landscape.
The e-rupee functions similarly to paper money but offers programmable features that can dictate how, when, and where it is used. This capability introduces a new level of control in financial transactions.
An essential aspect of this system is the e-wallet, a digital wallet that allows users to manage and store digital rupees conveniently on their mobile devices. E-wallets are considered secure, often more so than traditional payment methods such as credit cards or cash, provided they are used correctly.
A notable example of the e-rupee’s application is the Subhadra Yojana, launched in Odisha in September 2024,INDIA ADVANCING WITH DIGITAL CURRENCY 2 where Rs 10,000 in digital rupees was directly transferred to 12,000 women quickly, securely, and without intermediaries. This transaction demonstrated the potential for digital accountability, illustrating how CBDCs can enable targeted financial support for specific purposes, thereby transforming governance and welfare distribution.
Currently, over 130 countries are exploring central bank digital currencies. In India, tests for offline payments, interbank settlements, and regulated cross-border operations are already in progress, particularly with the UAE and ASEAN nations.
The shift towards sovereign digital money will have significant implications for investors and market participants. This transition is expected to enhance transparency, requiring companies to adapt their payment processes. It will enable clearer visibility into the performance of various fintech enterprises and may streamline operations in banking, microfinance, and regulatory compliance.
Digital currency represents a strategic evolution of India’s monetary structure, impacting policies, investment opportunities, and the mechanics of financial transactions. Financial professionals who overlook this shift risk missing new emerging pathways, while those who embrace it may find new avenues for investment as the future of money unfolds.

India to Persist with Russian Oil Imports, Sources Confirm

Staff ReporterEconomy, Diplomacy 0

India plans to continue its purchase of Russian oil, despite U.S. warnings of potential penalties, according to Indian government sources familiar with the matter.

India has decided to maintain its oil trade with Russia despite threats of penalties from U.S. President Donald Trump. Two unnamed sources from the Indian government revealed that the country will proceed with its long-term oil contracts with Russia, indicating the complexity of abruptly stopping oil imports.

Last month, President Trump, through a Truth Social post, suggested that India might face additional penalties for its continued purchases of Russian arms and oil. On August 1, Trump mentioned hearing that India would cease buying oil from Russia. However, The New York Times reported on August 2 that senior Indian officials confirmed there has been no change in India’s policy towards oil imports from Russia. One official clarified that no directives were given to oil companies to reduce imports from Russia.

According to Reuters, the nation’s state refiners momentarily halted buying Russian oil as the discounts diminished in July. Indian foreign ministry spokesperson Randhir Jaiswal addressed this during an August 1 briefing, stating that India evaluates its energy purchasing decisions based on availability, market offerings, and global circumstances. He emphasized India’s “steady and time-tested partnership” with Russia and noted that India’s international relations should not be viewed through the perspective of other countries.

The U.S. administration has not responded to requests for comments regarding the situation. Reports indicate that Indian state refiners, including Indian Oil Corp, Hindustan Petroleum Corp, Bharat Petroleum Corp, and Mangalore Refinery Petrochemical Ltd, have not sought Russian crude oil in the past week due to shrinking discounts, a fact shared by sources aware of their procurement plans.

Amidst these tensions, it remains clear that Russia continues to serve as the top oil supplier to India, supplying about 35% of the country’s oil needs. President Trump recently threatened to impose 100% tariffs on countries purchasing Russian oil unless Russia reaches a peace agreement with Ukraine. From January to June this year, data shows India imported about 1.75 million barrels per day of Russian crude, marking a 1% increase from the previous year.

Nayara Energy, one of the major buyers of Russian oil, faced fresh challenges after being sanctioned by the European Union due to its majority ownership by Russian entities, including Rosneft. Following these sanctions, Nayara’s chief executive resigned and was replaced by Sergey Denisov, a seasoned veteran of the company. The sanctions have also hindered the discharge of oil carried by three vessels from Nayara Energy.

Despite the international pressure and sanctions, India’s ongoing reliance on Russian oil underlines the strategic and economic importance of maintaining its energy supply lines. The dynamics of global diplomacy and trade continue to influence India’s decision-making processes in the energy sector.

Indian-Origin Tycoon Surinder Arora Proposes Heathrow Airport Revamp

Staff ReporterBusiness, Economy 0

Surinder Arora, a prominent Indian-origin businessman in the UK, seeks to join the race to revamp Heathrow Airport with a cost-efficient expansion proposal.

Surinder Arora, a leading hotelier and businessman of Indian descent, has unveiled plans to submit a proposal for the redevelopment of Heathrow Airport. With this announcement, Arora joins a competitive field of industrialists aiming to oversee the transformation of the UK’s sole hub airport.

The Arora Group, led by Arora, has characterized their proposal as a “cost-efficient solution” for Heathrow’s expansion. They have partnered with Bechtel, a U.S.-based company with a global reputation in airport development, having been involved in nearly 200 airport projects worldwide. The proposed development includes a fully operational runway by 2035, enhancing the infrastructure significantly.

The plans also feature the construction of a new Terminal 6, which is slated to open in two phases: T6A by 2036 and T6B by 2040. According to a statement from the Arora Group, Terminal 6 will be a modernized facility situated west of the existing Terminal 5. In complement to the new terminal, a signature runway spanning 2,800 meters is designed to cater to airlines, passengers, and cargo, aligning with economic growth goals set by the UK government.

Surinder Arora, the Founder and Chairman of the Arora Group, spoke about this unique opportunity, highlighting the group’s track record of completing projects on time and within budget, including those near Heathrow Airport. Arora expressed satisfaction with the government’s decision to open the bid process to all interested parties rather than granting exclusivity to the current airport operator, despite its history.

The proposal from the Arora Group is built on the principles of cost-effectiveness, sustainability, and timeliness. Their vision is to enhance the airport’s capabilities, contributing to the UK’s connectivity and commerce.

Carlton Brown, the CEO of the newly formed Heathrow West Limited, emphasized the strategic importance of the project. He stated, “I want to see Heathrow help Britain become the best-connected nation in the world and facilitate the trade and inward investment our UK economy needs to compete globally.” He added that Heathrow should be able to outpace not just its European counterparts, but also major international competitors like Dubai and Singapore.

The redevelopment of Heathrow Airport could potentially redefine its role as a global hub. With Surinder Arora’s proposed changes, it aims to enhance the airport’s infrastructure, improve passenger and cargo services, and boost the UK economy’s connectivity with the world.

July Jobs Report Weakens, Treasury Yields Tumble, Fed Governor Resigns

Staff ReporterBusiness, Nation, USA 0

U.S. Treasury yields dropped significantly on Friday following a weaker-than-anticipated July jobs report and the announcement of new tariffs by President Donald Trump.

U.S. Treasury yields experienced a substantial decline on Friday after the release of a disappointing July nonfarm payroll report and the introduction of new tariffs by President Donald Trump. The yields saw further downward movement after Federal Reserve Governor Adriana Kugler announced her resignation, allowing Trump the opportunity to nominate a new member to the central bank committee responsible for setting interest rates.

The yield on the 2-year Treasury note fell over 25 basis points to 3.698% as traders adjusted their expectations for a potential interest rate cut by the Federal Reserve at their upcoming meeting in September. The 10-year Treasury note yield decreased by 13 basis points to 4.236%, while the 30-year bond yield pulled back by 4.8 basis points to 4.837%. In financial terms, one basis point is equivalent to 0.01%, with yields and bond prices moving inversely to each other.

“Bond prices exploded higher on the all-important jobs report, as the door to a Fed rate cut in September just got opened a crack wider,” noted Chris Rupkey, chief economist at FWDBONDS. “The labor market looks in much worse shape than we thought. Bet on it. The labor market is not rolling over, but it is badly wounded and may yet bring about a reversal in the U.S. economy’s fortunes.”

Yields initially decreased further when the nonfarm payrolls for July were reported as weaker than expected, with significant downward revisions for May and June. According to the Bureau of Labor Statistics, nonfarm payrolls grew by 73,000 last month. Economists surveyed by Dow Jones had predicted an increase of 100,000 jobs. Additionally, the unemployment rate rose to 4.2%, as anticipated.

The employment figures for June were revised to 14,000 new jobs from the previously reported 147,000, and May’s numbers were adjusted down to 19,000 from 144,000. Following this data release, President Trump announced the firing of Erika McEntarfer, commissioner at the U.S. Bureau of Labor Statistics, who was responsible for gathering this employment data.

Later in the day, the Federal Reserve confirmed Kugler’s resignation without specifying a reason. Her departure paves the way for Trump to appoint a new member who may support the lower interest rates that the president has advocated. Although the Fed opted to maintain current rates during their Wednesday meeting, two Trump-appointed members of the Federal Open Market Committee dissented, expressing a preference for rate cuts.

The Federal Reserve’s benchmark funds overnight lending rate has remained steady between 4.25% and 4.50% since December.

Investors were also attentive to trade developments as Trump adjusted tariff rates ahead of his self-imposed deadline on Friday, marking the end of a pause on “reciprocal” tariffs. Trump signed an executive order late Thursday, revising tariffs from 10% to as high as 41%, set to take effect on August 7.

In a phone interview with NBC News following the announcement, Trump expressed willingness for further trade negotiations, although he asserted it was “too late” for other nations to avoid the upcoming tariffs. “It doesn’t mean that somebody doesn’t come along in four weeks and say we can make some kind of a deal,” he added.

Source: Original article

US Tariffs Generate Significant Revenue

Staff ReporterEconomy, Politics 0

Donald Trump has significantly altered the global trading landscape since returning to the White House with his administration’s imposition of substantial tariffs on numerous countries.

Since his return to power, President Donald Trump has implemented far-reaching tariffs across the globe, fundamentally impacting international trade and the U.S. economy. On April 2, labeled as “Liberation Day,” Trump announced a series of steep “reciprocal” tariffs affecting numerous nations worldwide. While many of these tariffs are currently on hold, agreements have been reached with several countries, including the United Kingdom, Vietnam, Japan, and the European Union, to reduce certain tariff levels.

However, specific goods, notably automobiles and steel, have faced significant industry-focused tariffs, resulting in the highest overall U.S. tariff rates in nearly a century. These tariffs are ultimately borne by U.S. companies importing foreign goods, affecting both domestic and international economic dynamics.

The raised tariffs have led to increased revenue for the U.S. government. According to Yale University’s Budget Lab, as of July 28, 2025, the average effective U.S. tariff rate on imported goods rose to 18.2%, the highest since 1934. This rate increased from 2.4% in 2024, before Trump’s reelection. As a result, tariff revenues surged to $28 billion in June 2025, a threefold increase from 2024 monthly totals.

The Congressional Budget Office (CBO) projected that the increased tariff revenue would reduce U.S. governmental borrowing by $2.5 trillion over the next decade. Nevertheless, the CBO warned that the tariffs could also shrink the U.S. economy compared to its potential without them and might not offset revenue losses from the Trump administration’s tax cuts.

Despite intentions to reduce trade deficits, the U.S. trade deficit has widely expanded. This is partly due to U.S. companies stockpiling goods to avoid tariffs, boosting imports beyond the increase in exports. Consequently, the U.S. goods trade deficit, reaching a record $162 billion in March 2025, persisted at significant levels despite falling back to $86 billion in June.

Trump’s harsh tariffs on China initially peaked at 145% before easing to 30%, dramatically impacting Sino-American trade. Chinese exports to the U.S. in the first half of 2025 decreased by 11% compared to the same period in 2024. Concurrently, Chinese exports to other regions have increased, with notable growth to places like India, the EU, the UK, and ASEAN countries.

Concerns have emerged about “tariff jumping,” where Chinese firms potentially sidestep U.S. tariffs by relocating operations to neighboring Southeast Asian countries, a tactic previously observed with Trump’s tariffs on Chinese solar panels. This phenomenon may explain the rise in Chinese exports to ASEAN nations.

In response to Trump’s trade policies, some countries have forged new trade alliances. The UK and India recently concluded a long-negotiated trade agreement. Similarly, the European Free Trade Association, comprising Norway, Iceland, Switzerland, and Liechtenstein, announced a deal with Mercosur, a group of Latin American nations. The EU is advancing a trade agreement with Indonesia, and Canada is considering a free trade agreement with ASEAN.

The U.S.-China trade tension has also shifted dynamics in agricultural trade. China, historically a major importer of U.S. soybeans, has increasingly relied on Brazilian suppliers due to new Chinese tariffs on U.S. agricultural imports. In June 2025, China imported 10.6 million tons of soybeans from Brazil compared to just 1.6 million tons from the U.S. This trend recalls when the Trump administration had to compensate U.S. farmers for losses from earlier tariffs.

In the domestic market, U.S. consumer prices are experiencing a rise. Economists have cautioned that these tariffs would ultimately raise prices by increasing import costs. June’s official inflation rate was 2.7%, a slight upturn from May’s 2.4%, yet below January’s 3% rate. Although earlier stockpiling helped mitigate retail price increases, recent data suggests Trump’s tariffs are beginning to impact consumer prices. Harvard University’s Pricing Lab found that prices of imported goods and tariff-affected domestic products are rising more swiftly than unaffected domestic items.

Powell Suggests Potential Interest Rate Increase, Not a Cut

Staff ReporterEconomy, Finance 0

Federal Reserve Chair Jerome Powell held interest rates steady, emphasizing a cautious approach to rate cuts amid internal dissent and market expectations for a potential reduction in September.

In a widely expected move, U.S. Federal Reserve Chair Jerome Powell opted not to reduce the base interest rate, maintaining it at 4.25% to 4.5%. This decision comes despite mounting pressure from various quarters, including President Donald Trump, who has been vocal about his preference for a rate cut.

Powell’s remarks during a press conference highlighted a cautious stance on monetary policy. While acknowledging the impact of tariffs on inflation, he stressed the importance of further data before making any adjustments. “Higher tariffs have begun to show through more clearly to prices of some goods, but their overall effects on economic activity and inflation remain to be seen,” he stated. He added that the FOMC is balancing the risks, with the potential for tariff-driven inflationary effects being either short-lived or more persistent.

Some analysts had anticipated a rate cut possibly in September, during the next Federal Open Market Committee (FOMC) meeting. However, Powell’s reluctance to alter rates was seen as a pragmatic response to current economic signals, despite a growing split within the FOMC.

Two members dissented from the decision, marking the highest level of internal friction in over 30 years. Powell contended that the economy is not hindered by the existing policy stance, and any premature rate reduction could necessitate later increases.

According to a note by Bank of America’s macroeconomics team, Powell’s press conference exhibited a more hawkish tone than expected. The team noted that Powell emphasized data dependency for any potential rate cut in September, suggesting that maintaining the current rate helps balance risks to the Fed’s dual mandate.

The financial markets reacted to Powell’s cautious remarks, with equities falling and treasury yields rising post-announcement. UBS’s Paul Donovan pointed out that while Powell attempted to rationalize dissenting views within the FOMC, the market may perceive these disagreements as politically motivated, particularly given the administration’s stance.

Despite diminished confidence following Powell’s speech, some analysts remain hopeful for a rate cut by September. Powell did mention attentiveness to employment-related risks, which offers some grounds for optimism.

Goldman Sachs’ chief U.S. economist, David Mericle, noted the absence of direct hints regarding a September reduction from Powell’s briefing. Nonetheless, Goldman continues to project multiple cuts in 2025, foreseeing rates eventually lowering to 3% to 3.25% by the end of 2026.

UBS Global Wealth Management’s Chief Investment Officer, Mark Haefele, echoed these sentiments, particularly due to labor market indicators such as the Job Openings and Labor Turnover Survey (JOLTS), which showed declines in job openings, hires, and a decreasing quits rate. The Conference Board’s consumer confidence survey also indicated a rise in individuals perceiving jobs to be scarce, signaling potential labor market softening.

Haefele remains optimistic about a September rate cut, suggesting investors focus on medium-duration high-grade bonds for stable portfolio income. Despite Powell’s cautious stance, the possibility of a rate cut remains a subject of debate leading up to the FOMC’s September meeting.

Tariffs on the Rise as Trump’s Trade Deadline Passes

Staff ReporterBusiness, Pharmaceuticals 0

A Thursday stock market rally faltered as President Donald Trump released letters demanding pharmaceutical companies address drug pricing.

A rally in U.S. stocks lost momentum Thursday afternoon following social media posts by President Donald Trump, who shared letters to executives at several U.S. and European pharmaceutical corporations, calling for immediate action on drug pricing issues.

The Dow Jones Industrial Average fell by 275 points, or 0.6%, marking its fourth consecutive day of losses. The S&P 500 dipped 0.4%, sliding into negative territory, while the Nasdaq Composite decreased by 0.15%, despite previously rising by as much as 1.5% earlier in the day.

In his communications to companies such as Pfizer, Trump outlined a timeline for addressing concerns related to drug prices. His letter demanded, “Moving forward, the only thing I will accept from drug manufacturers is a commitment that provides American families immediate relief from the vastly inflated drug prices and an end to the free ride of American innovation by European and other developed nations.”

Initially, the S&P and Nasdaq indexes found support from gains in tech giants Meta Platforms (META) and Microsoft (MSFT), which rose 12% and 4%, respectively. However, the broader market weakened as pharmaceutical stocks declined.

Shares in Merck (MRK) dropped by 4%, dragging down the Dow. Meanwhile, shares of Eli Lilly (LLY) and Pfizer (PFE) fell by 2% and 1.6%, respectively. U.S.-traded shares of Novo Nordisk (NVO) and AstraZeneca (AZN) also saw declines, falling 5% and 3.6%, respectively.

According to CNN, the stock market’s performance was influenced by the pharmaceutical sector, which faced pressure due to heightened scrutiny over drug pricing policies.

Source: Original article

Trump Imposes Tariffs on India; New Delhi Delays Deal

Staff ReporterBusiness, Economy, Politics 0

U.S. President Donald Trump announced 25% tariffs on imports from India amid ongoing negotiations for a bilateral trade deal, but India remains resolute against making concessions that could harm its domestic agricultural sector.

The United States has targeted India with 25% tariffs on its exports, along with an unspecified penalty, as a trade agreement remains elusive. Despite this pressure, India has not hastily moved towards a deal, unlike countries such as Japan, which recently reached agreements with the U.S. covering market access for American autos and agricultural products.

The reluctance from India stems from a desire to protect its agricultural sector from increased U.S. imports, to safeguard the interests of its local farmers who represent a significant portion of the electorate. Recently, in the trade deal with the United Kingdom signed last week, India successfully shielded its crucial agricultural sectors from tariff concessions, setting a precedent for its negotiations with the U.S.

Carlos Casanova, a senior economist at UBP, commented on the steadfast approach by India, explaining that exports to the U.S. form a relatively small portion of India’s economy. Thus, the country is cautious about opening its agricultural sector to U.S. companies. Official U.S. data from 2024 confirms that goods imports from India amounted to $87.4 billion.

India’s Commerce and Industry Minister, Piyush Goyal, emphasized India’s cautious stance regarding its agricultural sector in a recent interview. He indicated that protecting the interest of farmers and micro, small, and medium enterprises is a priority. Goyal reiterated that New Delhi is not bound by deadlines when negotiating trade agreements and would only pursue a deal that aligns with national interests. He expressed confidence in securing a beneficial agreement by October-November 2025.

In discussion with CNBC, Jayant Dasgupta, former ambassador of India to the World Trade Organization, stated that India’s red lines, particularly concerning agriculture, genetically modified foods, and dairy, are firmly drawn, suggesting limited room for concessions.

Meanwhile, Harsha Vardhan Agarwal, president of the Federation of Indian Chambers of Commerce & Industry, expressed hope that the recent U.S. tariffs would be a temporary measure, anticipating the finalization of a long-term trade agreement soon.

Analysts have noted strategic reasons for Washington to expedite an agreement with India, underscoring the importance of maintaining a strong bilateral partnership in shaping the Indo-Pacific region. Harsh V. Pant of the Observer Research Foundation highlighted the U.S.’s interest in not alienating India during these negotiations.

This ongoing negotiation showcases the delicate balancing act of international trade agreements, wherein countries must weigh domestic concerns against international diplomatic goals.

Source: Original article

India Leads China’s Smartphone Exports to US, Manufacturing Up 240%

Staff ReporterBusiness, Economy, USA 0

India has surpassed China as the leading exporter of smartphones to the United States, highlighting a significant shift in manufacturing supply chains away from Beijing amid ongoing tariff uncertainties.

India’s emergence as the top exporter of smartphones to the U.S. has been substantiated by a report from research firm Canalys. Smartphones manufactured in India accounted for 44% of American imports of such devices in the second quarter of this year, a substantial rise from 13% during the same timeframe last year. The total volume of Indian-made smartphones shipped to the U.S. soared by 240% compared to a year ago, illustrating India’s growing significance in the global smartphone supply chain.

Meanwhile, Chinese smartphones made up only 25% of the U.S. import market by the end of June, down from 61% the previous year. Vietnam also surpassed China, with a 30% share of smartphone exports to the U.S. These shifts underscore a reconfiguration of global supply chains, driven by geopolitical and economic tensions.

According to Sanyam Chaurasia, a principal analyst at Canalys, the primary driver of India’s increased exports has been Apple’s accelerated strategy to expand manufacturing in the country due to heightened trade tensions between the U.S. and China. For the first time, India has exported more smartphones to the U.S. than China, marking a pivotal moment in global trade dynamics.

There are reports that Apple has been hastening its plans to produce a significant portion of the iPhones sold in the U.S. within Indian facilities, aiming to manufacture approximately 25% of all iPhones in India over the coming years. This strategic shift reflects broader efforts to mitigate risks associated with tariffs and geopolitical tensions.

Despite these moves, challenges remain. Former President Trump threatened additional tariffs on Apple products unless they were manufactured domestically, though such a shift was viewed as impractical by experts due to the potential for soaring costs. Notably, many of Apple’s key products, including iPhones and Mac laptops, have been granted temporary tariff exemptions, though these measures are subject to change.

Apple’s peers, such as Samsung Electronics and Motorola, have also begun relocating assembly operations for U.S.-bound smartphones to India, but their progress is considerably more gradual and limited compared to Apple. Canalys reports that these companies are striving to diversify their manufacturing footprints to reduce dependency on China.

The trend of shifting last-mile assembly to India is gaining traction among global manufacturers, who are allocating more capacity in India to cater to the U.S. market. Renaud Anjoran, executive vice president of Agilian Technology, a Chinese electronics manufacturer, noted that the company is renovating a facility in India with plans to move a portion of its production there. The firm anticipates launching trial production runs soon before scaling up to full-scale manufacturing despite India’s lower yield rates compared with China due to quality and logistical issues.

Despite the increase in smartphone shipments, it’s important to note that these numbers do not necessarily translate to final sales but do serve as an indicator of market demand. In the U.S., iPhone shipments fell by 11% year-over-year to 13.3 million units in the second quarter, reversing a previous quarter’s growth rate of 25.7%, according to Canalys. Globally, iPhone shipments decreased by 2% from a year ago, totaling 44.8 million units from April to June.

The challenges are reflected in Apple’s stock performance, with shares declining by 14% this year amid concerns regarding tariff exposure and increasing competition in the smartphone and artificial intelligence sectors.

While Apple has commenced assembly of iPhone 16 Pro models in India, it continues to depend heavily on China’s established manufacturing infrastructure to meet U.S. demand for high-end models. The complexity of these supply chains illustrates the delicate balance companies must maintain in an evolving global trade landscape.

Amidst these uncertainties, former President Trump imposed a 26% tariff on imports from India in April, which pales in comparison to the significantly higher tariffs levied on Chinese goods then. These duties were deferred, providing a temporary hiatus in tariff pressures pending an August 1 deadline.

Source: Original article

Fed Holds Interest Rates Steady Despite Pressure from Trump

Staff ReporterBusiness, Economy 0

Policymakers at the Federal Reserve voted 9-2 to maintain current interest rates, despite significant pressure from President Trump to reduce borrowing costs.

The Federal Reserve decided on Wednesday to keep its benchmark interest rate between 4.25% and 4.5%, resisting calls from President Trump to lower it. This decision influences the borrowing costs for businesses and consumers, with many investors speculating that a rate cut could occur at the Fed’s next meeting in September.

Since reducing interest rates by a full percentage point last year, the Federal Reserve has held rates steady, waiting to assess the impact of President Trump’s new tariffs and other policies on the economy. Trump has frequently criticized Federal Reserve Chair Jerome Powell for not reducing rates faster, derisively assigning the nickname “Too Late” to Powell.

The White House also expressed concerns about cost overruns related to a $2.5 billion renovation of two Federal Reserve buildings in Washington. Tensions heightened last week when Trump and Powell had a verbal exchange during a building tour, with Trump allegedly inflating the project’s cost to over $3 billion. Powell corrected him, explaining that this higher figure included a third building completed earlier.

Despite these interactions, Powell maintains that the president’s personal attacks have not influenced his policy decisions. “I’m very focused on just doing my job,” he said at a central bankers’ meeting in Portugal. With over ten months left in his term, which expires next May, Powell expressed a desire to leave the economy in a stable condition for his successor.

The debate over interest rates continues as inflation remains above the Federal Reserve’s 2% target. Economists are concerned that Trump’s tariffs might further increase prices. For instance, consumer prices rose by 2.7% in June compared to the previous year, marking a more considerable annual increase than in the preceding month.

Yet, with unemployment still low, the Federal Reserve faces little immediate pressure to cut borrowing costs. The Labor Department’s upcoming report on July’s job gains, due on Friday, could further influence the central bank’s future policy decisions.

According to NPR, the Federal Reserve’s cautious approach reflects a broader strategy to balance economic growth with price stability amid ongoing political and economic challenges.

Source: Original article

Trump Imposes 25% Tariff on Indian Imports

Staff ReporterEconomy, Cover, USA 0

President Donald Trump has announced a 25% tariff on imports from India, marking the latest development in his aggressive trade policy during his second term.

President Donald Trump declared on Wednesday that imports from India will be subjected to a new 25% tariff. This decision is the most recent action in his administration’s vigorous trade policies that have increasingly become a focal point of his presidency.

The announcement, made via Trump’s social media platform Truth Social, cited India’s existing tariffs as being “far too high” and criticized their trade restrictions as “strenuous and obnoxious.” Additionally, Trump mentioned penalties targeting India’s reliance on Russian energy and military hardware.

Trump’s declaration arrives just before a crucial trade negotiation deadline on Friday, which he asserted would remain firm without extensions. He has indicated that a plethora of other nations could also experience elevated baseline tariff levels, potentially reaching as high as 20%, which builds on the already heightened 10% tariffs introduced in April.

The potential tariff levels could approach the historic highs that Trump initially proposed on April 2, deemed “Liberation Day,” which had initially unsettled global markets and triggered stock market declines.

Having initially retreated from those threats, President Trump has gradually reinstated elevated tariff measures, reminiscent of levels seen during the 1930s when protectionist trade strategies were employed in a bid to reinvigorate the U.S. economy, albeit with counterproductive outcomes that exacerbated the Great Depression.

According to the Yale University Budget Lab, as of their recent Monday analysis, U.S. consumers face a de facto tariff rate of 18.2%, the highest since 1934. This could result in a household loss equivalent of up to $2,400 by 2025. Notably, these figures were calculated before Trump’s recent tariff announcement on India.

While the 25% tariff on Indian imports is lower than the previously suggested 26% on April 2, it marks a substantial rise from India’s customary average tariff rate of 2.4% on exports to the U.S. In recent years, India has been a critical partner for the U.S., exporting approximately $90 billion in annual goods.

India recently overtook other suppliers as the leading source of smartphones imported into the United States, aligning with Apple’s strategic move to relocate production away from China due to heightened tariffs and geopolitical tensions, as reported by Bloomberg. Apple notably exported $17 billion worth of iPhones from India last year.

Apple CEO Tim Cook noted during the company’s May 1 earnings call that, starting this quarter, the majority of iPhones sold in the U.S. would likely originate from India.

beyond smartphones, the U.S. imports a variety of products from India, including chemicals, plastics, leather goods, agricultural commodities, and metals.

In the previous year, India imposed an average tariff rate of 5.2% on U.S. goods, primarily purchasing oil, cement, stone, glass, and machinery from American markets.

President Trump’s focus on tariffs as a key trade strategy perpetuates a climate of unpredictability within the global economy. Over recent weeks, Trump has unveiled new agreements with several other countries aimed at refining trade conditions with the U.S. Despite the intentions, critics argue these deals are mired in ambiguous details and difficult promises to implement.

However, major stock indices have shown resilience and have continued to rise, partly because some companies observe that the tariffs’ impact may not be as severe as initially anticipated when Trump first introduced his sweeping country-specific tariffs in April.

Nonetheless, the recently negotiated bilateral trade agreements come with tariffs significantly higher than historical norms. These agreements stipulate 19% tariffs on goods from Indonesia and the Philippines, and 15% tariffs on imports from Japan and the European Union.

Furthermore, a new deal with Vietnam imposes tariffs of 20% on its exports, with potential increases to 40% for goods rerouted from China.

Trump’s Trade War Victory Faces New Challenges

Staff ReporterEconomy, Politics 0

President Donald Trump has defied expectations by navigating a complex trade war landscape, achieving a temporary trade victory that has raised America’s customs revenue without triggering significant fallout or global retaliation, although challenges remain on the horizon.

The economic downturn many anticipated from President Donald Trump’s aggressive trade policies has yet to materialize. Contrary to predictions, the United States has managed to increase customs revenue through higher import tariffs, while keeping inflation reasonably low. Meanwhile, trading partners have mostly absorbed the higher tariffs, avoiding significant retaliation, offering Trump what some see as a trade war victory, albeit potentially short-lived.

Recent agreements with various international partners have resulted in increased tariffs on foreign goods entering the United States while maintaining minimal or zero tariffs on American exports. Some nations have opened markets previously inaccessible to U.S. goods, pledged investments in the United States, and removed what the Trump administration views as barriers to trade, like digital services taxes.

However, there are signs that Trump’s early success may not endure. In Europe, dissatisfaction is brewing. Following a last-minute agreement to meet Trump’s trade deal deadline, several European leaders expressed discontent. French Prime Minister François Bayrou described the situation as a “dark day,” while Hungarian Prime Minister Viktor Orban criticized Trump’s approach. Bernd Lange, head of the European Parliament’s trade committee, said the resulting framework is “not satisfactory.” The European Union must resolve key issues to avoid unraveling the fragile trade ceasefire.

On the northern front, U.S.-Canada trade talks have stalled. Although Canada has backed down on the digital services tax criticized by Trump, the president continues to threaten increased tariffs on Canadian products like lumber. While the US-Mexico-Canada Agreement (USMCA) keeps many Canadian goods tariff-free, it doesn’t cover all imports. Potential tariff hikes on Canadian goods could impact American consumers. Notably, this dispute highlights uncertainties in the recent de-escalation of the trade war; despite having negotiated the current trade agreement during his first term, Trump retains the power to reintroduce tariffs.

Negotiations with China remain precarious as well. The anticipated next round of talks aims to continue suspending the historically high tariffs imposed by both countries. However, progress beyond this pause remains uncertain. The U.S. administration has voiced frustration over China’s perceived delays in fulfilling previous commitments and has sought decreased regulatory barriers on technology shipments. While China desires more access to critical semiconductors, the U.S. seeks increased availability of rare earth magnets. The administration has criticized China’s slow progress, arguing the failure to meet prior agreements hampers critical electronics production. Despite Trump’s softened rhetoric in recent months, U.S.-China trade relations teeter on a precarious edge.

A pivotal decision regarding the legality of Trump’s tariffs looms. On Thursday, a court hearing will determine whether most of Trump’s tariffs are lawful under the International Emergency Economic Powers Act. A federal court previously ruled that Trump exceeded his authority by levying tariffs on these grounds. The appeals court has temporarily halted the ruling, with a final decision pending. If the court rules against Trump, he may resort to alternative methods to impose tariffs, though this could limit his latitude without Congressional approval, potentially allowing for only brief, low-rate tariffs.

The U.S. economy shows mixed signals amidst these global trade tensions. Though robust, as indicated by strong retail sales, a healthy labor market, and rising consumer confidence, potential inflation effects warrant caution. The Bureau of Labor Statistics reported a slow increase in prices for some tariff-affected goods, a developing trend in categories such as clothing, appliances, and electronics. Major retailers like Walmart and consumer goods firms like Procter & Gamble have acknowledged upcoming price hikes due to tariffs. Automobile giants GM, Volkswagen, and Stellantis each reported at least $1 billion in tariff-related costs last quarter.

While economists expect inflation to rise in the coming months, reminiscent of recent inflationary nostalgia, projections fall short of anticipating a severe crisis. As these tariffs settle in, price shocks reminiscent of spiked inflation rates in recent years are not anticipated, although consumers remain cautious due to past economic pressures.

French PM Criticizes EU-US Trade Deal as Submission

Staff ReporterBusiness, Politics 0

France has criticized a recent trade agreement between the European Union and the United States, labeling it a “dark day” for Europe and suggesting it reflects a submission to U.S. interests.

PARIS — A new trade deal framework between the United States and the European Union has sparked controversy, with France branding the agreement as disadvantageous for Europe. French Prime Minister Francois Bayrou described the deal as a “dark day” for the continent, arguing that it indicated a capitulation to U.S. President Donald Trump. The accord introduces a 15% tariff on EU goods while not immediately affecting U.S. imports with reciprocal European tariffs.

Bayrou’s strong reaction underscores ongoing discontent in France, which had consistently urged tougher EU negotiations with the Trump administration. France’s stance markedly differed from the more measured approaches of Germany and Italy, which preferred a conciliatory strategy.

“It is a dark day when an alliance of free peoples, brought together to affirm their common values and to defend their common interests, resigns itself to submission,” Bayrou wrote on the social media platform X, referring to the “von der Leyen-Trump deal.”

Despite receiving criticism from the French government, the deal has been met with a more subdued response from Berlin and Rome. The varied reactions highlight the differing economic priorities within the EU. Whereas France has been vocal in its opposition, President Emmanuel Macron has remained silent since the agreement was signed by Trump and European Commission President Ursula von der Leyen.

While French ministers acknowledged some positive aspects of the deal — such as exemptions in the spirits and aerospace sectors — they maintain that it is fundamentally imbalanced. European Affairs Minister Benjamin Haddad voiced dissatisfaction and called for the EU to utilize its anti-coercion instrument, a mechanism designed for non-tariff retaliation.

Trade Minister Laurent Saint-Martin further criticized the EU’s negotiation tactics, suggesting that the bloc should have been more assertive in addressing what he saw as an aggressive maneuver by Trump. “Donald Trump only understands force,” Saint-Martin said on France Inter radio. “It would have been better to respond by showing our capacity to retaliate earlier. And the deal could have probably looked different,” he added.

Macron had previously advocated for a tit-for-tat response to any U.S. tariffs, favoring equivalent measures on American imports, particularly in the services sector where the U.S. runs a surplus with the EU.

The discord within Europe was further evident as the softer stance promoted by German Chancellor Friedrich Merz and Italian Prime Minister Giorgia Meloni prevailed. Their countries’ greater dependence on U.S. exports likely influenced their preference for a diplomatic approach.

The trade deal remains a contentious subject, reflecting broader complexities in transatlantic relations. As the EU navigates its collective economic interests, the agreement’s implications will likely continue to stir debate among member states.

Source: Original article

Google CEO Becomes Billionaire; Advises Gen Z on Success Secrets

Staff ReporterBusiness, Technology 0

Google CEO Sundar Pichai, now a billionaire, advocates for embracing discomfort as a means to personal and professional development, a lesson he shares with Generation Z to guide them toward success.

Sundar Pichai, the CEO of Google and newly inducted billionaire, emphasizes the importance of stepping outside comfort zones as a pathway to progress. This mindset, he suggests, has been instrumental in his journey from an unknown product manager to leading a $2.3 trillion global tech company. Speaking to Generation Z, Pichai advises that while traditional career advancements might seem logical, following one’s heart can often lead to discovering one’s true passion.

Pichai acknowledges that the road to success isn’t devoid of challenges, even for prominent leaders. He admits to moments of self-doubt, sensing others in his surroundings excelled beyond his capabilities. However, he reassures young individuals that such discomfort is an integral part of growth.

“At various points in my life, I’ve worked with people who I felt were better than me,” Pichai shared on Lex Fridman’s podcast. “You want that feeling a few times, trying to get yourself in a position where you’re working with people who you feel are kind of like stretching your abilities, is what helps you grow.

“Putting yourself in uncomfortable situations, and I think often you’ll surprise yourself,” he added.

Having started as a product manager in 2004, Pichai climbed the ranks at Google on the strength of this philosophy and caught the attention of cofounders Larry Page and Sergey Brin, eventually being named CEO in 2015. Although he concedes that an element of luck plays a role in success, he stresses the importance of pursuing what one loves—even if it initially seems irrational.

“You’re thinking about what you want to do, your brain is telling you something. But when you do things, I think it’s important to listen to your heart, and see whether you actually enjoy doing it,” Pichai said.

Success, according to Pichai, also involves surrounding oneself with the right people. He highlights the significance of working with driven individuals on collaborative journeys, which has been crucial in transforming Google into a multitrillion-dollar corporation.

“You find mission-oriented people who are in the shared journey, who have this inner drive to excellence, to do the best, and motivate people, and you can achieve a lot that way,” he said.

The culture of excellence at Google might also entail extended working hours beyond the conventional nine-to-five, as revealed in an internal memo by Sergey Brin. This memo, seen by the New York Times, urged AI-focused employees to be present in the office throughout the week, suggesting 60-hour workweeks as the optimal benchmark for productivity. Although Pichai has expressed support for more flexible work environments, the competitive landscape in AI demands tech giants strive for supremacy.

Despite high-pressure scenarios, Pichai maintains a calm manager demeanor. He believes self-motivated employees usually recognize their errors quickly, and a managerial overreaction could exacerbate the situation.

“At times, you’re working with people who are so committed to achieving, if they’ve done something wrong, they feel it more than you do, so you treat them differently,” Pichai explained. “Occasionally, there are people who you need to clearly let them know, like, ‘That wasn’t okay,’ or whatever it is, but I’ve often found that not to be the case.”

While Pichai has recently joined the billionaires’ circle, his wealth contrasts sharply with that of Google’s cofounders. Larry Page and Sergey Brin rank among the world’s top 10 richest individuals, holding net worths of approximately $174 billion and $163 billion, respectively, compared to Pichai’s $1.1 billion.

In 2009, Larry Page advised college graduates to focus on solving problems that would eventually enable greater efficiency.

“Technology, and especially the internet, can really help you be lazy,” Page told University of Michigan students. “Find the leverage in the world, so you can be more lazy.”

Contemporary challenges, including AI’s impact on the job market, present unique obstacles to today’s youth, much like what graduates faced during the Great Recession. Nevertheless, Page encourages perseverance.

“Overall, I know it seems like the world is crumbling out there, but it is actually a great time in your life to get a little crazy, follow your curiosity, and be ambitious about it,” he said. “Don’t give up on your dreams. The world needs you all.”

According to Fortune, Pichai’s insights offer valuable guidance for Gen Z’s burgeoning workforce.

Source: Original article

Mumbai Begins Construction on Third Airport Project

Staff ReporterBusiness, India 0

A pre-feasibility study for a greenfield airport near the Vadhavan Port project has commenced, aiming to transform the area into a key logistics and maritime hub in India.

The Maharashtra Airport Development Company Ltd (MADC), supported by the Government of Maharashtra, has initiated a pre-feasibility study for a new greenfield airport near the forthcoming Vadhavan Port project. Officials familiar with the development expect a final report within six to nine months, with the study being conducted by a joint venture between Grant Thornton and Nippon Koei India.

This proposed Vadhavan Airport, strategically located to serve the upcoming Vadhavan Port in Palghar, is expected to become a pivotal part of India’s logistics and maritime infrastructure. Together with the port, the airport aims to form an essential component of the India-Middle East-Europe Economic Corridor (IMEC), which is intended to enhance India’s container handling capacity by 23.2 million TEUs, aspiring to elevate the country as a dominant player in global maritime trade.

The Vadhavan Airport will provide crucial air connectivity for cargo and passengers, particularly facilitating transport to and from nearby industrial and warehousing clusters, including Bhiwandi. By integrating rail, road, and air transport infrastructures, the port and airport will create a comprehensive multimodal logistics ecosystem.

Preparatory work for the pre-feasibility study, including site visits, has already been completed. The study, managed by Grant Thornton and Nippon Koei India, will assess the technical, financial, and environmental aspects of developing the proposed airport. The results will guide MADC and the government on future development steps, ensuring alignment with Maharashtra’s broader infrastructure strategy.

The establishment of the Vadhavan Airport is poised to alleviate congestion at Mumbai’s existing Chhatrapati Shivaji Maharaj International Airport and the under-construction Navi Mumbai Airport. It is also expected to spur economic growth in Palghar by facilitating better connectivity and development opportunities.

This initiative is part of Maharashtra’s ambitious vision to transform the state into a hub of logistics, transport, and international commerce. With planned rail and road linkages connecting the Vadhavan Port and surrounding areas, the airport will play a critical role in a synchronized logistics framework that enhances the efficiency of moving goods and passengers. It supports India’s national logistics policy, which is focused on creating a more robust, integrated, and globally competitive supply chain.

The greenfield airport initiative embodies India’s commitment to sustainable and future-ready infrastructure development. As it aligns closely with the IMEC and regional warehousing hubs, the project becomes a vital part of the country’s long-term trade goals. Additionally, by expanding development beyond congested urban centers, the Vadhavan Airport is set to foster jobs, connectivity, and inclusive growth in Palghar and neighboring areas.

This report was based on details from an article by Aviation A2Z.

Source: Original article

Airbus A380: Comparing Emirates, Etihad, and Qatar Airways

Staff ReporterTravel, Business 0

Middle Eastern airlines Emirates, Etihad Airways, and Qatar Airways are renowned operators of the massive Airbus A380, a symbol of luxury and efficiency in long-haul air travel.

The Airbus A380, recognized as the world’s largest passenger airliner and the sole full-length double-deck jet, has left a significant mark in aviation history. Initiated in the late 1980s to compete with Boeing’s 747 in the long-haul market, Airbus officially launched the A380 program in December 2000, investing nearly $11 billion. The prototype’s maiden flight occurred in April 2005, and by December 2006, the aircraft received its type certificate from the European Union Aviation Safety Agency (EASA) and the Federal Aviation Administration (FAA). Singapore Airlines introduced it into commercial service in October 2007, and production continued until 2021, resulting in over 250 A380s built.

Emirates, Etihad Airways, and Qatar Airways are among the most notable operators of the A380 in the Middle East. Emirates leads with the largest A380 fleet globally. According to aviation database ch-aviation, Emirates has 118 A380s, with 93 currently active and 25 inactive. The fleet’s average age is 10.6 years, offering a total capacity of 60,616 seats. The oldest aircraft, registered as A6-EDF, is 19.4 years old, while the newest, A6-EVQ, is just over four years old.

Emirates has built a reputation for luxury with its A380s, featuring private first-class suites, onboard showers, and a lounge. The airline has also committed $2 billion to retrofit its A380s, adding premium economy cabins and refreshing interiors. Emirates deploys its A380s globally, covering six continents and over 50 destinations. Europe’s 21 destinations mark its most frequent A380 destination, with significant routes to North America and a notable connection to São Paulo, Brazil, in South America. Other popular routes include flights to Bangkok, Manchester, Paris, Jeddah, and Cairo, with London Heathrow being the most frequented destination with over 40 weekly flights.

Etihad Airways, meanwhile, operates a smaller fleet of ten A380s, seven of which are currently active. These aircraft have an average age of 10 years and a total seating capacity of 4,860. Etihad’s A380s are known for their luxurious cabins, including the “First Apartment” and the exclusivity of “The Residence,” a three-room suite with a living room, bedroom, and en-suite shower.

The airline maintains a modest network for its A380s, with four active routes. Recently, Etihad ceased its Abu Dhabi to New York JFK service, redirecting its focus to routes like Abu Dhabi to Toronto, Singapore, Paris, and London.

Qatar Airways also utilizes a fleet of ten A380s, with eight currently in service. The fleet, averaging ten years in age, features aircraft like the younger A7-APJ, at just 7.6 years old. Each A380 accommodates various classes, including private suites in business class and a dedicated economy class offering.

Qatar Airways’ A380s serve destinations such as London, Paris, Bangkok, and Sydney, after ceasing operations to Perth. London Heathrow, in particular, stands out for its frequent, year-round service. The airline’s robust schedule sees it maximize routes with consistent high demand, ensuring efficient use of its A380 fleet.

These airlines demonstrate how the A380, even as production ends, remains a pivotal aircraft in their operations, showcasing luxury and capacity unmatched by other models.

AI Bot Gains Traction on Wall Street with Growing User Base

Staff ReporterBusiness, Economy 0

In an unprecedented display of artificial intelligence, the trading bot Galileo FX reportedly earned a return of $14,158 from a $3,200 investment in one week, as verified by MyFxBook.

The new AI trading bot, Galileo FX, has captured the attention of the investment world with its remarkable performance. This bot reportedly generated a return of $14,158 from a modest $3,200 investment within just a week. The trading records have been independently verified by MyFxBook, a well-respected third-party verification service, which has prompted interest and curiosity from both novice and experienced traders alike.

Galileo FX is designed to be user-friendly, with an intuitive interface that simplifies trading for beginners. Its ease of use allows even those without previous trading experience to engage effortlessly in the market, thereby expanding its appeal to a wider audience.

Since its launch, Galileo FX has shown impressive results. Starting with an initial investment of $200 in January 2025, it reportedly amassed a profit of $61,500 by June 2025—yielding an extraordinary return of 30,750% over five months. These achievements have further fueled interest among traders across the globe.

The bot employs cutting-edge AI technology to forecast market trends and execute trades autonomously. It offers various trading speeds, from conservative to aggressive, which accommodate different risk preferences and strategies. This adaptability, coupled with its high degree of accuracy, has helped establish Galileo FX as a preferred choice among traders.

While initial skepticism was understandable due to the remarkable returns, full disclosure and independent verification by MyFxBook have alleviated many doubts. The bot has reportedly generated $9,100 in profits over eight months trading a single GBP/USD forex pair, boasting a 100% success rate with no losses. Over 300 similar verified performances are featured on their website, underscoring its consistent profitability.

According to a survey, 98.7% of Galileo FX users reported making over $1,500 in their first week of trading. This success has led to an increase in downloads, with more than 8,000 users reportedly benefiting from substantial daily profits.

Galileo FX is available in three versions—Personal, Plus, and Pro—each offering unique features and benefits. Despite its growing popularity, the long-term availability of the bot is uncertain amid reports of a potential acquisition by a major US hedge fund. For now, it remains accessible for purchase via its official website.

The combination of simplicity and sophistication sets Galileo FX apart. Users can quickly install the software and begin generating profits, emphasizing its efficient design and performance.

This development follows significant advancements in AI technologies, such as ChatGPT, marking an expected progression in AI applications. As Galileo FX continues to impact the financial sector, it is closely watched by industry observers.

Source: Original article

India’s Pharma Exports Up 92% in Six Years

Staff ReporterBusiness, Health 0

India’s pharmaceutical exports have climbed by 92% over the past six years, spurred by strategic government initiatives and the Aatmanirbhar Bharat vision.

India’s pharmaceutical industry has experienced a significant boost, with exports expanding from Rs 1,28,028 crore in the fiscal year 2018–19 to Rs 2,45,962 crore by 2024–25. This impressive growth was confirmed by Minister of State for Chemicals and Fertilisers Anupriya Patel during a session in the Lok Sabha, with the minister emphasizing the impact of targeted schemes in fostering such expansion.

The growth trajectory can be attributed to several government initiatives, including the Promotion of Research and Innovation in Pharma MedTech Sector (PRIP), the Production Linked Incentive (PLI) Scheme for Pharmaceuticals, and the Scheme for Promotion of Bulk Drug Parks.

The PRIP scheme, endowed with a budget of Rs 5,000 crore, aims to catalyze a shift in the pharmaceutical and MedTech sectors from traditional cost-based models to innovation-driven growth. This initiative particularly focuses on strengthening research and development, enhancing collaboration between industry and academia, and promoting drug discovery as well as development. Remarkably, under this scheme, seven Centres of Excellence have been established.

The PLI schemes have also played a crucial role. Since the launch of the PLI Scheme for Pharmaceuticals, India has seen a substantial enhancement in domestic manufacturing capabilities, allowing for diversification into high-value products. By March 2025, investments in this scheme totaled Rs 37,306 crore, surpassing the initially committed Rs 17,275 crore over six years. Sales of approved products from the PLI Scheme for Pharmaceuticals reached a cumulative Rs 2,66,528 crore, with exports accounting for Rs 1,70,807 crore of that total.

Likewise, the PLI Scheme for Bulk Drugs was instituted with a Rs 6,940 crore allocation to mitigate India’s reliance on critical imports by stabilizing the domestic supply of active pharmaceutical ingredients (APIs). Against a committed investment of Rs 3,938.5 crore, the scheme attracted actual investments of Rs 4,570 crore by its third year, indicating a positive trend towards self-reliance.

Additional initiatives include the Pradhan Mantri Bhartiya Janaushadhi Pariyojana, which aims to provide affordable, high-quality generic medicines through the extensive network of Jan Aushadhi Kendras (JAKs). By June 6, 2025, approximately 16,912 JAKs were operational nationwide, serving an estimated 10–12 lakh individuals daily. The scheme covers 2,110 different medicines and 315 medical products and devices across key therapeutic categories, offering them at prices that are 50–80% lower than branded alternatives. This has accrued estimated savings of Rs 38,000 crore for Indian citizens over 11 years, while also creating self-employment opportunities for over 16,000 individuals, including 6,800 women entrepreneurs.

These ambitious initiatives reflect India’s concerted effort to advance its pharmaceutical sector through a combination of innovation, strategic investment, and broader access to affordable healthcare, according to India New England.

Google CEO Downplays Silicon Valley AI Talent Competition

Staff ReporterBusiness, Science & Technology 0

Google CEO Sundar Pichai downplayed concerns over its capacity to retain top AI talent, asserting that the company’s retention metrics remain “healthy” amidst fierce competition in Silicon Valley.

In Google’s recent second-quarter earnings call, CEO Sundar Pichai addressed the escalating competition for artificial intelligence talent, a battle intensified by Meta’s creation of a ‘superintelligence’ division and its recruitment of researchers with lucrative offers.

Analysts have voiced concerns about the potential increase in costs to maintain leadership in AI due to the fierce talent wars. Specifically, Bernstein analyst Mark Shmulik questioned Pichai about the impact these talent battles might have on Google’s AI-related expenses and its ability to retain top researchers.

Pichai reassured investors and analysts, indicating that Google has navigated similar challenges in the past. He emphasized that the company’s key retention metrics remain robust.

“We continue to look at both our retention metrics, as well as the new talent coming in, and both are healthy,” Pichai stated during the call. “I do know individual cases can make headlines, but when we look at numbers deeply, I think we are doing well through this moment.”

Despite Business Insider’s request, Google did not immediately provide specific retention metrics. Meanwhile, the competition has seen Meta entice several former Google employees, such as Pei Sun, who contributed to Google’s Gemini AI assistant and Waymo, its self-driving car project.

The race for AI talent is not exclusive to industry giants like Meta. Emerging AI-focused companies, such as OpenAI and Anthropic, have also enticed talent away from Google’s DeepMind, as highlighted by a report from the venture capital firm, SignalFire. The report revealed that Google researchers are 11 times more likely to move to Anthropic than vice versa.

On the earnings call, Pichai elaborated on Google’s strategies for retaining top AI researchers, emphasizing factors beyond financial compensation. He underscored Google’s investments in advanced computational resources, including access to the latest computer chips, to keep researchers at the forefront of AI innovation.

Pichai further explained that leading AI researchers are driven by the opportunity to “be at the frontier driving progress, and so the mission, and how state-of-the-art the work is, matters. So that’s super important to them,” he added.

According to Business Insider, these dynamic shifts in talent echo the broader challenges and opportunities Silicon Valley faces as it endeavors to maintain its edge in the ever-evolving field of artificial intelligence.

Warren Buffett Prefers Modest Living and Simple Meals Over Luxury

Staff ReporterBusiness, Lifestyle 0

Warren Buffett, revered for his investment acumen and vast wealth, has resided in the same relatively modest Omaha home since 1958, paying just $31,500 at the time and demonstrating a preference for value over ostentation.

Warren Buffett, the legendary investor and chairman of Berkshire Hathaway, is not only known for steering one of the world’s most financially powerful companies, but also for his humble lifestyle choices. Despite amassing a personal fortune that has hovered around $100 billion, he continues to live in the same Omaha, Nebraska, residence he purchased in 1958 for a modest $31,500. This decision underscores his philosophy of valuing practicality over extravagance.

Buffett’s residence, while not small by ordinary standards, appears relatively modest for a billionaire. The 6,500-square-foot home is located on a quiet corner lot and was originally constructed in 1921. Its proximity to Berkshire Hathaway’s headquarters allows Buffett to forego a luxury limousine and comfortably commute to work, all within a five-minute drive.

In a 2010 letter to Berkshire Hathaway shareholders, Buffett highlighted the purchase of his home as the third-best investment of his life. His steadfast decision not to upgrade to a more extravagant dwelling stands in contrast to typical billionaire tendencies to own multiple properties across various locales.

Buffett has consistently articulated his belief that additional possessions do not necessarily equate to increased happiness. In a 2017 interview with People magazine, he expressed skepticism about the joy of owning multiple homes, echoing the sentiment that accumulating possessions can, in fact, lead to burdens.

This philosophy extends beyond real estate and into his consumption habits as well. Buffett has made clear that he doesn’t find more pleasure in expensive meals over a simple hamburger from McDonald’s, underscoring his belief that personal enjoyment isn’t tied to the amount of money spent.

Buffett’s commitment to value-driven investments echoes throughout his financial decisions. Early in his marriage, he and his wife opted to delay purchasing a house to ensure they could do so without depleting their savings, choosing instead to invest their funds wisely. This disciplined approach isn’t about frugality but is rather a testament to Buffett’s strategic financial thinking.

Today, Buffett’s home is valued between $1.34 million and $1.5 million, which represents a staggering increase of more than 4,700% from the original purchase price. Yet, for Buffett, the appreciation in value is secondary to the happiness and contentment derived from his home, which remains invaluable. This principle of prioritizing value over superficial allure permeates his public and private life alike.

According to Yahoo Finance, Buffett’s lifestyle choices offer a compelling narrative about the relationship between wealth and happiness, reinforcing the notion that true success isn’t measured solely by material possessions.

India’s Economy to Reach Third Largest Globally by 2028: Report

Staff ReporterCover, Economy, Nation 0

India is projected to become the world’s third-largest economy by 2028, with its GDP expected to exceed $10 trillion by 2035, driven by key states reaching significant economic milestones, according to a report by Morgan Stanley.

India is on the path to becoming the third-largest economy in the world by 2028, with its gross domestic product (GDP) anticipated to more than double to $10.6 trillion by 2035. This forecast comes from a recent report by Morgan Stanley released on July 23.

The financial services firm’s analysis suggests that India’s growth will be significantly influenced by its states, with Maharashtra, Tamil Nadu, Gujarat, Uttar Pradesh, and Karnataka expected to reach the $1 trillion economic milestone in the coming years.

Currently, the leading states include Maharashtra, Gujarat, and Telangana, according to Morgan Stanley. Additionally, Chhattisgarh, Uttar Pradesh, and Madhya Pradesh have shown substantial improvements in their economic rankings over the past five years.

The report highlights that India is poised to contribute approximately 20 percent to global growth in the near future, thereby elevating the earnings potential for major multinational corporations operating in the region.

In its latest bi-monthly monetary policy review, the Reserve Bank of India (RBI) maintained its GDP growth forecast for the fiscal year 2026 at 6.5 percent. This outlook comes after increased central government expenditure on infrastructure, which has risen to 3.2 percent of the GDP for fiscal year 2025, compared to 1.6 percent in fiscal year 2015.

According to Moneycontrol, these infrastructural investments and the economic dynamism at the state level are pivotal to India’s projected economic ascent.

Source: Original article

India Association of Long Island Holds 47th Annual Gala

Staff ReporterBusiness, India, Nation 0

The India Association of Long Island (IALI) hosted its 47th Annual Gala on July 18, celebrating Indian-American entrepreneurs and their significant contributions to the community.

Held at the Long Island Marriott in Uniondale, New York, the black-tie event brought together prominent community leaders and guests to honor three distinguished business figures: Chintu Patel, Co-Founder of Amneal Pharmaceuticals; Harry Singh, Founder of Bolla Oil Corp.; and Naveen Shah, Founder of Navika Capital.

The gala began with a welcome address by Amita Karwal, IALI’s Cultural Chair, followed by introductions from Shashi Malik, Gala Chair, who invited the audience to celebrate Jasbir Jay Singh, President of IALI. President Singh expressed gratitude to the officers, executive and ad hoc committees, past presidents, sponsors, elected officials, and honorees for their support and participation. He highlighted the humility of the honorees and shared updates on IALI’s initiatives, including the proposed IALI Community Center building project.

A key highlight of the evening was a panel discussion with the honorees, who shared insights on their journeys of success, resilience, and philanthropy. Their stories of perseverance and dedication drew enthusiastic applause from the audience.

The gala also acknowledged the contributions of various sponsors and community leaders, including Kanak Golia, Ravi Chopra, Anil Jain, and Sunil Jain. Attendees enjoyed a dinner and cocktail reception catered by Mint Restaurant, famed for its exquisite Indian cuisine.

With over 3,000 members and a legacy of 46 years, IALI remains a cornerstone of the Indian-American community on Long Island, promoting cultural heritage, service, and unity. This year’s officers include Ravindra Kumar as Vice President, Hargovind Gupta as Secretary, and Sujata Seth as Treasurer. The executive team consists of dedicated members like Dr. Abha Bhatnagar, Amita Karwal, Ashwani K. Sharma, and others. The Gala Committee included Shashi Malik and Bhavna Sharma.

The Indian Panorama Editor, Prof. Indrajit Saluja, conducted interviews with each honoree to delve deeper into their entrepreneurial paths and future aspirations.

Chintu Patel, recognized for his leadership in the pharmaceutical industry, shared that the greatest reward is inspiring young entrepreneurs to pursue their dreams. He recounted starting Amneal Pharmaceuticals with limited resources but with a vision to make affordable medicines accessible. Despite challenges, Patel’s company has grown to a significant presence with $3 billion in revenue, focusing on essential and affordable pharmaceuticals. On potential U.S.-India tariff issues, he emphasized the importance of ensuring a stable drug supply chain for crucial medicines.

Naveen Shah discussed his journey from an accounting career to establishing the Navika Group of Companies, a venture into commercial real estate. With leadership and teamwork at its core, Navika has expanded to own and manage multiple properties. Shah spoke about the importance of legacy—creating enduring value for future generations, emphasizing corporate responsibility.

Harry Singh Bolla shared candid thoughts on receiving awards, stating his belief that recognition should be reserved for those offering selfless community service. Bolla highlighted the achievements of Indian-Americans and the responsibilities that come with success. Discussing his values, he expressed deep pride in his Sikh heritage and American opportunities, urging others to commit to community well-being as a measure of true success.

The gala underscored the IALI’s dedication to fostering unity and cultural appreciation within the Indian-American community while celebrating outstanding achievements in entrepreneurship.

Source: Original article

India’s Economy Steady Despite Global Uncertainties, Central Bank Reports

Staff ReporterEconomy, Cover, India 0

India’s economy remains resilient despite global geopolitical tensions and trade uncertainties, according to the Reserve Bank of India.

India’s economy is showing signs of resilience against the backdrop of global fluctuations, as the Reserve Bank of India (RBI) elaborated in its monthly bulletin released on Wednesday. The central bank highlighted India’s ability to withstand international challenges, such as geopolitical tensions and trade uncertainties.

Last month, the RBI made a significant move by reducing its key policy rate by an unexpected 50 basis points and lowering the cash reserve ratio for banks. These changes were possible due to low inflation, which offered the bank the flexibility to prioritize growth amid unpredictable global conditions. India’s economic activity has remained steady, the bulletin noted, supported by favorable prospects for summer-sown crops, robust momentum in the services sector, and moderate growth in industrial activity.

The report also pointed out that “high-frequency indicators suggest stability in aggregate demand,” signaling a positive outlook for India’s economic prospects. Retail inflation in the country dropped to 2.10% in June, marking a six-year low and further contributing to positive economic sentiment.

Additional factors propelling economic stability included “de-escalating geopolitical tensions in the Middle East and optimism on trade deals,” as well as a relaxation in regulatory norms for infrastructure financing, which collectively improved financial market sentiment in the latter part of June.

Despite these optimistic indicators, the bulletin also highlighted that domestic investor sentiment was cautious in the first half of July. This caution was attributed to ongoing uncertainty over a potential trade agreement between India and the United States and mixed corporate earnings for the quarter ending in June.

The RBI’s insights into India’s economic resilience underscore the country’s ability to navigate complex international challenges while maintaining domestic stability and growth.

World Bank: Indian Cities Require $2.4 Trillion for Climate Infrastructure

Staff ReporterClimate, Economy 0

India needs to invest over $2.4 trillion by 2050 to develop climate-resilient urban infrastructure, as extreme weather linked to climate change poses increasing challenges for its rapidly expanding cities, the World Bank stated on Tuesday.

India faces a monumental task as it endeavors to equip its burgeoning urban areas against the impacts of climate change, necessitating an investment of more than $2.4 trillion by 2050. The World Bank report underscores that the nation’s cities, home to a population expected to nearly double to 951 million by 2050, are increasingly at risk due to erratic weather patterns and rising sea levels.

The report, titled “Towards Resilient and Prosperous Cities in India,” emphasizes the urgency of large-scale investments in critical urban infrastructure such as housing, transportation, water systems, and waste management. Absent these investments, the nation could incur escalating costs arising from weather-related damages. Auguste Tano Kouame, the World Bank’s country director for India, highlighted the need for cities to bolster their resilience to ensure the safety of their residents, during the report’s launch, which was developed in partnership with India’s urban development ministry.

Urban flooding already results in significant financial losses, costing India approximately $4 billion annually. This figure is expected to rise to $5 billion by 2030 and could soar to $30 billion by 2070 if no corrective measures are implemented.

The World Bank’s projections, based on conservative urban population growth models, estimate that infrastructure investment needs could reach $10.9 trillion by 2070. These projections increase to $2.8 trillion and $13.4 trillion, respectively, under a scenario of moderate urbanization.

The World Bank’s report advocates for timely interventions which could prevent billions in annual losses due to flooding and extreme temperatures. Investing in resilient and efficient municipal infrastructure and services is paramount, according to the findings.

Currently, India allocates approximately 0.7% of its gross domestic product to urban infrastructure— a figure below global standards. The report urges a substantial increase in public and private financial flows to meet this shortfall. To achieve the necessary improvements in urban infrastructure, the report calls for greater coordination among federal, state, and municipal governments, including enhancing project financing and instituting climate-linked fiscal transfers.

In addition, the World Bank underscores the need for India to expand partnerships with the private sector, particularly in fields such as energy-efficient water supply, sanitation, waste management, and the construction of green buildings. Presently, private investment constitutes a mere 5% of total urban infrastructure investment.

According to News India Times, addressing these challenges is critical not only for mitigating future economic losses but also for ensuring the safety and sustainability of urban centers nationwide.

Source: Original article

US Food Insecurity Doubles Since 2021 Amid Economic Disparity Concerns

Staff ReporterCover, Money, U.S. 0

Amid economic prosperity, an increasing number of Americans are battling food insecurity, with recent data revealing that 15.6% of U.S. adults lacked sufficient food sometime in May, almost double from 2021.

The United States, despite being an economic powerhouse, faces a growing challenge as more citizens struggle to afford basic necessities like food. This alarming trend has been brought to light by new findings from Morning Consult, reported by Axios, which show a significant rise in the number of U.S. adults experiencing food scarcity.

In May, 15.6% of adults in the U.S. reported they sometimes or often did not have enough to eat, marking a nearly 100% increase from two years ago. Back in 2021, expanded benefits such as the Supplemental Nutrition Assistance Program (SNAP) and an enhanced Child Tax Credit contributed to improving food access. However, the rollback of these supports has coincided with worsening food security for many.

John Leer, Chief Economist at Morning Consult, highlighted the widening gap between flourishing financial markets and the reality many Americans face daily. “There’s such a disconnect now between record highs on Wall Street and elevated levels of food insecurity,” Leer remarked in the report.

Philadelphia’s Share Food Program, a significant food bank network in the area, has observed a 120% surge in demand for food over the past three years. Program Director George Matysik noted that the need began rising as federal aid started decreasing in 2022. He expressed concern that the recent SNAP cuts approved by Congress could further exacerbate the situation. The Urban Institute’s research suggests that the reconciliation package could cause 22.3 million families to lose all or part of their SNAP benefits.

The spike in food insecurity accompanies a broader increase in living costs. Food prices, according to the Consumer Price Index, have climbed 26% over the last five years, with the USDA anticipating a further 2.9% rise in 2025. Inflation isn’t limited to groceries, affecting everything from rent to utilities and transportation, thereby eroding purchasing power for many households.

To combat rising costs, consumers are urged to be vigilant with their budgets. Reducing major expenses, such as car insurance, by comparing various options can help ease financial strains. Forbes reports the average cost of full-coverage auto insurance as $2,149 per year, though significant savings can be found by comparing quotes from different insurers.

Technological solutions like the Upside cash-back app provide additional avenues for savings, enabling users to earn cash-back on essential purchases like gas, groceries, and dining. Such strategies assist in managing the impact of inflation on household finances.

Investors concerned with protecting their assets from inflation often turn to traditional safeguards such as gold. Unlike fiat currency, gold cannot be produced in unlimited quantities and is viewed as a stable investment during economic uncertainties. Over the past year, gold prices have surged over 35%, emphasizing its value as an investment.

Financial expert Ray Dalio, founder of Bridgewater Associates, the world’s largest hedge fund, acknowledged gold’s role in a well-rounded investment portfolio, calling it an “effective diversifier” during economic downturns. Investors looking for tax advantages can consider opening a gold IRA through services like Priority Gold, which facilitate holding physical gold within retirement accounts.

Real estate also remains a popular hedge against inflation. As property values and rental incomes often rise with inflation, real estate investments can provide a reliable income stream. The S&P CoreLogic Case-Shiller U.S. National Home Price Index reports a more than 50% increase over the last five years, reflecting the sector’s resilience.

Crowdfunding platforms, such as Arrived, now offer easy access to the real estate market, allowing investors to purchase shares in rental properties with relatively small investments. Supported by high-profile investors like Jeff Bezos, Arrived simplifies the process by letting users select pre-vetted properties to invest in, offering an opportunity for income generation without the traditional burdens of property ownership.

This multifaceted approach to managing personal finances amid economic challenges provides a roadmap for maintaining stability and growth, even as larger structural inequities persist.

According to Axios, these revelations underline a critical disconnect between financial indices and the lived realities of millions of Americans grappling with basic needs.

Source: Original article

Gold and Silver Prices Significantly Increase Over Six Years

Staff ReporterEconomy, India 0

Gold prices in India have soared by 200 percent over the past six years, driven by economic uncertainty and geopolitical tensions, while silver prices have also experienced significant increases.

Gold prices in India have surged dramatically, increasing by an impressive 200 percent over the past six years. Between May 2019 and June 2025, prices soared from ₹30,000 to over ₹1,00,000 per 10 grams, reflecting the precious metal’s rising value amidst global economic and geopolitical uncertainties.

Motilal Oswal Financial Services Limited (MOFSL) has continued to maintain a bullish outlook on gold. In a recent research note, the firm highlighted ongoing geopolitical tensions and economic uncertainty as the central factors fueling gold’s upward trajectory.

“Periods of heightened market volatility driven by inflation, global economic shifts, and geopolitical instability have all contributed to gold’s continued upward momentum,” stated MOFSL in their analysis.

Manav Modi, an Analyst for Precious Metals Research at MOFSL, commented, “We’ve been fortunate to ride the gold rally since 2019. While we maintain our overall positive outlook, we’re exercising caution as of July 2025—not exiting our position, but awaiting clearer signals.” He further mentioned that for gold prices to exceed current record levels, significant new catalysts would be necessary. Until that transpires, a phase of consolidation is anticipated.

In the meantime, both gold and silver witnessed strong gains at the start of the trading week. Silver prices once again surpassed ₹1.13 lakh per kilogram, alongside a notable increase in the price of 24-carat gold, which rose by more than ₹650.

On July 14, silver reached an all-time high of ₹1,13,867 per kilogram. According to figures from the India Bullion and Jewellers Association (IBJA), the price of 24-carat gold increased by ₹653 to ₹98,896 per 10 grams, up from ₹98,243 the previous Friday. Additionally, 22-carat gold rose from ₹89,991 to ₹90,589 per 10 grams, and 18-carat gold went up from ₹73,682 to ₹74,172 per 10 grams.

Silver prices climbed by ₹765 to ₹1,13,465 per kilogram, compared to ₹1,12,700 in the prior session.

Futures contracts have mirrored this bullish sentiment. On the Multi Commodity Exchange (MCX), the August 5, 2025, gold contract rose by 0.67% to reach ₹98,685 per 10 grams. Similarly, the September 5, 2025, silver contract increased by 0.93%, climbing to ₹1,14,001 per kilogram.

The rally extends globally, with Comex silver rising 1.16% to $38.91 per ounce, and gold gaining 0.71% to hit $3,382.10 per ounce, according to reports by IANS.

Berkshire Hathaway Anticipates Housing Market Shift

Staff ReporterBusiness, Finance/Economy, Housing 0

Berkshire Hathaway HomeServices has predicted that the anticipated selling of homes by retiring Baby Boomers could exacerbate the housing affordability crisis for younger generations.

First-time homebuyers have faced significant hurdles in the housing market over recent years, as affordability issues have mounted and the supply of available homes has decreased. This situation has predominantly affected younger buyers, with many in Generation Z and Millennials being unable to reach the key financial milestone of homeownership.

In contrast, Baby Boomers have experienced a more stable and buyer-friendly market throughout their lives, with the exception of the 2008 subprime mortgage crisis. As many Boomers now approach retirement and consider selling their homes to relocate, industry experts suggest this shift could upend the housing market.

While high mortgage rates and stagnant housing activity have impacted older generations, it is the younger generations who have borne the brunt of the increasingly expensive housing market. According to Berkshire Hathaway HomeServices, retiree homeowners looking to downsize may soon find themselves competing with first-time homebuyers for smaller, more affordable properties.

Affordability has long been the primary obstacle preventing younger buyers from purchasing homes. Many young buyers believe that if the mortgage rates were to drop below 6%, it would improve conditions enough for them to enter the housing market. Although housing inventory levels are beginning to improve, many people remain hesitant to list their homes for sale until rates decrease further, which has kept the market in a state of limbo.

A Berkshire Hathaway HomeServices blog points out that “they [Baby Boomers] accumulated significant equity from staying in their homes and paying down their mortgages and benefiting from escalating home prices over the course of 13 to 16 years.” It notes that nationwide home prices have increased by 47% over just the past five years, but many Boomers who remain in their homes have little financial motivation to sell amid high interest rates.

Experts anticipate that when Baby Boomers do choose to relocate for retirement and sell their homes in large numbers, it could exacerbate the housing affordability crisis for younger generations. As Boomers sell their homes and purchase smaller homes with cash, they inadvertently make it more difficult for first-time and lower-income homebuyers to compete.

Younger generations, particularly Millennials and Gen Z, will need to compete with senior Boomers, Gen Xers approaching retirement, and institutional investors. Companies like Blackstone, which has a portfolio of approximately 60,000 residential single-family homes, as well as institutional and foreign investors who intend to buy and rent or hold homes, contribute to higher home prices by reducing the inventory of smaller, newer, and more affordable homes.

Berkshire Hathaway HomeServices expects a significant number of unoccupied homes to be left behind by aging Baby Boomers. As demand among older and younger buyers shifts towards smaller, affordable homes, these vacated properties could significantly impact the already fragile housing market.

As the Baby Boomers enter their later years, they are unlikely to sustain upkeep on large and expensive homes. “What boomers will leave behind as they vacate their homes, whether for alternative lifestyles such as assisted living, long-term care homes, and multigenerational living, or through loss of life, is a growing inventory of unoccupied homes and homes for sale,” continues the Berkshire Hathaway HomeServices blog. If expensive homes remain unsold, housing experts worry the resulting widespread surplus could lead to market pricing collapses.

Between 2026 and 2036, it is predicted that between 13.1 and 14.6 million Boomers will transition away from homeownership, which raises concerns among housing industry experts about a potential price collapse due to the influx of available homes.

According to The Street, these shifts suggest significant disruptions in the housing market as Baby Boomers exit the scene, bringing both challenges and opportunities to younger prospective homeowners.

Beef Prices Surge, Following Trend Seen with Eggs

Staff ReporterBusiness, Economy 0

Beef prices in the United States have reached record highs, with an almost 9% increase since January, complicating the ability to decrease them compared to other food items like eggs.

The United States is facing unprecedented beef prices, mirroring a previous spike that affected the egg market. While egg prices have since declined after avian flu outbreaks and recovery in supply, beef prices have climbed to record levels. As of now, beef is retailing at $9.26 per pound, with data from the Department of Agriculture indicating a nearly 9% increase since the beginning of the year.

Recent data from June’s consumer price index reveals that steak prices have surged by 12.4% and ground beef by 10.3% over the past year. This presents a challenging scenario for consumers and the market, with solutions not easily found.

Experts suggest that reducing beef prices is complex. Michael Swanson, the chief agriculture economist at Wells Fargo, describes the cattle industry as akin to the ‘Wild West,’ unlike the more structured egg market, which is often managed more like ‘Corporate America.’

The surge in beef prices has been brewing for a decade, driven by shrinking cattle herds, ongoing drought conditions, and increased imports, all while demand remains robust. Tyson Foods CEO Donnie King recently highlighted these unprecedented market conditions during an earnings call, stating that these are the toughest the beef industry has faced.

According to the American Farm Bureau Federation (AFBF), cattle herd sizes are at their lowest in 74 years, with many ranchers opting out due to dwindling profitability. Despite record prices, cattle farmers face slim margins thanks to high supply costs. Sustained droughts have impacted pasture lands, resulting in costly feed arrangements instead of free grazing, further adding to their challenges.

Imported beef now plays a significant role, accounting for approximately 8% of U.S. beef consumption, with countries like Argentina, Australia, and Brazil contributing to the supply. Meanwhile, U.S. beef exports have decreased by 22% in May compared to last year, as highlighted by AFBF data. Michael Swanson notes that this shift toward international beef supply has come as a surprise, deviating from the previously balanced import-export landscape.

Despite these record-breaking prices, beef consumption in the U.S. remains strong. To combat high prices, some retailers like Walmart are adapting by creating direct supplier partnerships. Walmart recently inaugurated a self-owned beef facility in Olathe, Kansas, aiming to streamline operations and reduce costs by removing intermediaries. John Laney, executive vice president of food at Walmart, emphasized the benefits of this new setup, stating it would provide more consistency, transparency, and value to customers.

The potential for price decreases in the beef market is largely dependent on consumer habits, according to Bernt Nelson of the AFBF. Historic trends show that consumer demand for meat climbs with improved financial situations and recedes with economic downturns. As household financial uncertainties grow, beef demand could decline, which might eventually impact producers and ranchers negatively.

Michael Swanson warns of the risks tied to the cyclical nature of the market. “We are nearing the peak of the current cycle, and there is concern within the industry of being trapped with overpriced cattle as prices inevitably start to fall,” he notes, underscoring the delicate balance the industry must maintain to avoid significant losses.

According to CNN, there is cautious optimism that consumer behavior, market developments, and strategic retailer adaptations may eventually stabilize this volatile market.

Source: Original article

Natasha Sarin and Yale Budget Lab Analyze Important Budget Bill

Staff ReporterEconomy, Cover, Health 0

The One Big Beautiful Bill Act (OBBBA) is projected to significantly increase the U.S. federal deficit by more than $4 trillion over the next decade, while disproportionately affecting lower-income households by reducing their after-tax income.

The Yale Budget Lab estimates that the federal deficit will grow by over $4 trillion in the coming decade as a result of the One Big Beautiful Bill Act (OBBBA), according to Natasha Sarin, co-founder and president of The Budget Lab at Yale. Speaking at the American Community Media briefing, Sarin discussed the long-term economic impacts of this legislation on the national deficit and the broader economy.

The fiscal implications of the OBBBA are significant. Sarin, a professor at Yale Law School and the Yale School of Management, remarked that the bill functions as “Robinhood in reverse.” She explained that the federal deficit is expected to increase, leading to a debt-to-GDP ratio rising from its current level close to 100% to about 135% by the end of the decade. This would mean that the nation’s debts will substantially surpass its economic output.

Sarin noted that higher deficits will escalate the government’s borrowing costs, which will, in turn, affect households and businesses by increasing mortgage rates and the cost of various loans. This could result in higher expenses for car loans, student loans, and small business loans, contributing to a decreasing economic output over time.

Analyzing the winners and losers from the OBBBA, Sarin, along with her colleague Richard Prisinzano, Director of Policy Analysis at the Yale Budget Lab, questioned the distribution of trillions of dollars set to be spent under this legislation. Their findings indicate that households in the lowest 10% income bracket could lose approximately $700 annually in after-tax and transfer income over the decade spanning 2026 to 2034.

For the country’s wealthiest, the scenario is quite the opposite. The top 1% of earners could see an increase of about $30,000 per year in after-tax income. Those in the top 0.1% income bracket, earning more than $5.18 million, as per estimates from CBS MoneyWatch, could benefit by as much as $286,440 annually.

Sarin underscored that the bottom 40% of income earners would be worse off post-OBBBA, bearing the burden of cuts in programs like Medicaid and SNAP, which outweigh the benefits from any tax changes included in the bill.

The OBBBA entails significant changes in tariff policies, with effective tariff rates rising to about 18.7%, compared to approximately 2% at the beginning of the current administration. Sarin pointed out that lower-income households, which spend a larger portion of their income on essential goods, including food, energy, housing, and transportation, are particularly susceptible to the effects of higher tariffs.

The OBBBA incorporates a historic $900 billion cut to Medicaid, marking the largest reduction in the program’s history. Though framed primarily as a tax cut bill, the legislation represents the most profound change to the healthcare system since the Affordable Care Act (ACA), said Larry Levitt, Executive Vice President for Health Policy at the Kaiser Family Foundation.

Levitt stated that the Congressional Budget Office estimates this legislation will decrease federal health spending by more than a trillion dollars over the next decade and potentially increase the uninsured population by 11.8 million. These figures might decrease slightly due to last-minute bill changes. However, the magnitude of these healthcare system changes is considerable, with 4.8 million individuals expected to lose coverage primarily due to bureaucratic complexities and increased Medicaid renewal requirements.

The healthcare marketplace will also undergo significant transformation. New income verification procedures will complicate the process of obtaining coverage, and the discontinuation of automatic coverage renewal may result in many losing their insurance. Furthermore, many low-income, lawfully present immigrants will become ineligible for premium assistance under the ACA, as well as Medicaid and Medicare.

Levitt highlighted potential administrative efforts to penalize states like California for using state funds to provide healthcare to undocumented immigrants. Congress has waived notable amounts of Medicare and Medicaid funding, totaling about half a trillion dollars, but there is no certainty that such waivers will continue in the future.

The enhanced premium tax credits available under the ACA are set to expire at the year’s end. If not extended, these developments could cause out-of-pocket premiums for more than 20 million enrollees to surge by an average of more than 75%, potentially leaving millions uninsured by the beginning of 2026. Notably, many of the significant changes introduced by the OBBBA will unfold gradually, with notable effects emerging after the upcoming midterm elections and beyond.

Billionaires Pledge $1 Billion for AI-Driven Economic Mobility

Staff ReporterBusiness, Cover, Money 0

Five of America’s leading philanthropists have pledged more than $1 billion to a new initiative aimed at improving economic mobility for low-income Americans, with the support of artificial intelligence company Anthropic.

In the United States, the dream of climbing the economic ladder is becoming increasingly elusive. In response, five influential billionaires—Bill Gates, Charles Koch, Steve Ballmer, Scott Cook, and John Overdeck—are joining forces in a bid to reverse this trend and reinvigorate the notion of equal opportunity. These philanthropists have collectively committed over $1 billion to establish NextLadder Ventures, a philanthropic venture focused on enhancing economic mobility. This new initiative also involves a partnership with artificial intelligence giant Anthropic to leverage technology for this cause.

Charles Koch, known for his book “Believe in People: Bottom-Up Solutions For A Top-Down World,” writes about the societal challenges contributing to a declining sense of upward mobility. He cites rising suicide rates and drug overdoses as indicative of a society moving towards a stark divide between those who progress and those who fall behind. Through NextLadder Ventures, Koch and his fellow billionaires aim to steer change toward a more equitable environment.

Ryan Rippel, CEO of NextLadder Ventures, brings valuable insight and experience from his tenure at the Gates Foundation, focusing on economic mobility. He explains that the coalition of these billionaires is driven by a shared question: how to effect meaningful change for individuals facing significant economic barriers daily.

Rippel, who faced his own financial challenges growing up in Missouri after losing both parents, sees this mission as vital. Currently, more than one in ten Americans live below the poverty line, according to the U.S. Census Bureau. On top of that, data from the Urban Institute indicates that over half of U.S. citizens are unable to save beyond their monthly expenses. Rippel believes advancing AI and similar technologies could play a significant role in addressing these economic challenges.

Kevin Bromer, executive director of the Ballmer Group, reflects on the collective effort: “We had a common recognition that we’re at an inflection point in the social impact and technology spaces and viewed this as the perfect time to come together and have an opportunity to go further as a group than we could individually.”

The $1 billion from NextLadder Ventures will be allocated over the next seven years across nonprofit and for-profit ventures. This funding will be dispersed via grants, equity investments, and revenue-based financing methods. Proceeds from such investments will be reinvested to maintain their philanthropic mission.

Though no funding commitments have been formalized yet, entities like CarePortal and Rasa-Legal are examples of initiatives aligned with NextLadder’s mission. CarePortal connects children and families in need with community resources, while Rasa-Legal assists clients in expunging criminal records at a fraction of the usual cost.

Anthropic’s contribution to the initiative includes providing free AI processing power and technical support to NextLadder Ventures’ beneficiaries, facilitating innovative solutions to reach the market more swiftly.

Over the coming 15 years, NextLadder Ventures plans to incorporate more philanthropic partners and secure additional funding. The goal is to foster a robust market of scalable technologies capable of aiding low-income individuals, social workers, legal aid providers, and others in overcoming economic hurdles such as job loss and housing instability.

Beyond NextLadder Ventures, these billionaire philanthropists intend to continue their support for economic mobility through their respective foundations. Gates, Ballmer, and Koch are notable figures on Forbes’ list of top American philanthropists, each having made significant contributions to various social causes. Gates, for instance, has distributed nearly $47.7 billion through the Gates Foundation, primarily targeting health and poverty alleviation.

Meanwhile, Steve Ballmer, alongside his wife Connie, has focused on education and economic mobility, including pledges to Communities In Schools and StriveTogether. Charles Koch has contributed approximately $1.9 billion, mainly through the Stand Together network, focusing on education and criminal justice reform. Though not in the top 25 philanthropists, Scott Cook and John Overdeck have each donated nearly $500 million through their foundations.

Brian Hooks, CEO of Koch’s Stand Together, highlights the uniqueness of this collaborative effort, stating, “I don’t think there’s ever been a collaboration among philanthropies quite like this. The potential for all of us to do much more than we could in another situation is just enormous.”

Source: Original article

India’s Cooling Inflation Spurs Rate Cut Calls, Demand Concerns

Staff ReporterBusiness, Cover, Economy 0

A significant drop in India’s retail inflation to record lows is fueling calls for interest rate cuts, highlighting concerns over weakening demand.

India has witnessed a substantial decrease in retail inflation, reaching a six-year low, prompting discussions about potential interest rate cuts within the year. Analysts suggest that this decline underscores a weakening demand in the economy, necessitating further financial stimulus.

The drop in June’s headline inflation is paired with low core inflation, which remains below 4% when excluding gold, silver, and fuel prices. This indicates softer underlying consumption, which analysts believe could require additional support from monetary policy.

The Reserve Bank of India (RBI) executed a greater-than-expected interest rate cut of 50 basis points in June, changing its stance to ‘neutral,’ which signaled limited scope for additional cuts. However, the unexpected inflation figures from Monday have led to increased speculation about further easing. Swap rates have declined, reflecting market bets on at least one more rate cut.

Economist Radhika Rao from DBS Bank anticipates another 50 basis point cut in the current easing cycle. She said the softer-than-expected data, such as production, credit growth, and auto sales, alongside inflation figures below projections for the first half of fiscal 2026, will likely motivate the RBI’s monetary policy committee to further reduce rates, without specifying a timeframe.

The next RBI policy review is in early August, but analysts predict the bank will wait for more data and clarity regarding global trade tensions before acting, potentially in September or October.

Signs of weak demand are emerging in sectors like automotive and real estate. Car sales to dealers in June hit an 18-month low, and home sales in India’s top seven cities fell by 20% during the April-June quarter, according to a report from real estate consultancy Anarock.

Gaura Sen Gupta, chief economist at IDFC First Bank, expects the central bank to cut rates once more in either October or December, citing high-frequency indicators that continue to show moderation in urban consumption and private capital expenditures.

India’s central bank projects inflation for the year to remain below 3.7%, as Governor Sanjay Malhotra told CNBC TV-18. He emphasized that the monetary policy committee will consider both the current and future inflation outlook when deciding on further rate adjustments.

In an earlier interview following the June policy decision, Governor Malhotra noted that lower-than-expected inflation could provide additional room for policy maneuvering. Economist Samiran Chakraborty from Citi mentioned that despite the RBI’s ‘neutral’ stance, the softer Consumer Price Index (CPI) figures present an opportunity for some monetary easing.

The average inflation rate in the April-June quarter was 2.7%, below the RBI’s forecast of 2.9%. Citi projects July’s inflation could hit a record low of 1.1% and estimates an annual average of 3.2% for the financial year 2025-26, the lowest since 1990.

The deceleration in urban consumption in India, attributed to weak wage growth and depleted household savings, began last year. Despite a rural demand recovery following a strong monsoon, progress has been inconsistent.

Sales of two-wheel vehicles, a rural demand proxy, increased by merely 4.7% in June but dropped 12.5% month-on-month. Private investment also remains sluggish, with capacity utilization stuck at around 75–76% for over a year—below the threshold typically needed to spur new capital expenditures.

Madhavi Arora, an economist at Emkay Global, suggested that investment is unlikely to see immediate growth due to global trade uncertainties and a skeptical domestic demand outlook. She pointed out that India’s growth seems stagnant at a range of 6.0%–6.5%, largely due to absent private sector participation.

Although government capital expenditures rose in the first quarter of fiscal 2026, the previously announced tax cuts in the budget limit further fiscal stimulus options. According to IDFC’s Sen Gupta, with constraints on fiscal policy to stimulate growth, monetary policy will need to play a critical role.

Source: Original article

Tax Bill Provides Americans With Notable Benefits to Consider

Staff ReporterBusiness, Finance/Economy, USA 0

Recent changes in the tax and spending legislation, known as the One Big Beautiful Bill (OBBB), have introduced significant tax benefits that taxpayers should start planning for now, even before the tax season opens.

The latest tax guidelines offer several enticing opportunities beyond the well-known provisions like the elimination of taxes on tips and overtime and the $6,000 bonus deduction for seniors. Notable additions include deductions for charitable contributions and auto loan interest, as well as enhanced deductions and credits for families.

Brian Gray, a certified public accountant and tax partner at Gursey Schneider, notes the increase in planning opportunities for taxpayers who normally take the standard deduction, compared to past regulations such as the 2017 Tax Cuts and Jobs Act (TCJA). This change aims to make tax planning more accessible to everyday Americans.

Charitable Contributions for All

Under OBBB, taxpayers who take the standard deduction can benefit from a reinstated charitable contributions deduction starting in 2026. During the pandemic, the CARES Act allowed a temporary deduction for cash donations, but this provision expired. Now, individuals can deduct $1,000, or $2,000 per couple, as above-the-line charitable contributions without needing to itemize. This deduction not only reduces adjusted gross income but may also qualify taxpayers for additional deductions or tax credits.

Deducting Interest on Auto Loans

The new law also allows taxpayers to deduct interest on new personal auto loans without itemizing, marking a significant shift from previous requirements that were repealed in 1986. Starting in 2025 and through 2028, individuals can claim up to $10,000 in such deductions, provided they meet specific conditions. Brian Schultz from Plante Moran Wealth Management highlights that qualifying vehicles must be newly bought, assembled in the U.S., and intended for personal use, with certain income limitations.

Such deductions could change the decision-making process for potential car buyers, enabling them to weigh the benefits of purchasing versus leasing a vehicle.

Enhanced Benefits for Families

The OBBB also increases benefits for families who do not itemize deductions. For those with a Dependent Care Flexible Spending Account (DCFSA) through their employer, the annual contribution limit will permanently rise to $7,500, up from $5,000. Despite the increase taking effect next year, plans for this hike will begin in 2025, offers Schultz.

Previously, the highest contribution occurred briefly in 2021 during COVID circumstances, reaching $10,500, up from the long-standing $5,000, as noted by Newfront, an insurance brokerage firm.

The Child and Dependent Care Credit (CDCC) will also experience a double increment starting in 2026. For families with the lowest incomes, the credit percentage will increase to 50% from 35% of qualifying expenses, capping at $3,000 for one child and $6,000 for two or more children. The percentage gradually lessens as household income rises.

Schultz warns that new income phase-outs need attention, prompting taxpayers to be vigilant about their income levels to maximize the benefits of these new provisions.

While the tax season may seem far off, these developments underline the importance of early planning to harness the full potential of the new tax law changes, according to USA Today.

Source: Original article

Bitcoin Creator Satoshi Nakamoto Surpasses Gates in Wealth, Nears Buffett

Staff ReporterBusiness, Economy 0

Satoshi Nakamoto, the mysterious creator of Bitcoin, now stands as the 11th richest individual globally, surpassing tech moguls Bill Gates and Michael Dell, as his holdings exceed $130 billion.

Pseudonymous Bitcoin creator Satoshi Nakamoto has climbed to the 11th spot on the list of the world’s wealthiest individuals, propelled by the astonishing rise of Bitcoin’s value. With the cryptocurrency reaching new all-time highs, Nakamoto’s Bitcoin portfolio—estimated at $130 billion by Arkham Intelligence—has surpassed the net worth of Microsoft co-founder Bill Gates and Dell Technologies founder Michael Dell.

Nakamoto’s wealth now outshines Gates, who holds a net worth of $117 billion, and Dell, with $126.5 billion, according to Forbes. The recent surge in Bitcoin’s value, a 14% increase over the past month, was pivotal in this wealth ranking shift.

Close in Nakamoto’s sights is Warren Buffett, the CEO of Berkshire Hathaway and a well-known critic of Bitcoin. With a net worth of $141 billion, Buffett stands just ahead of Nakamoto. Should Bitcoin’s price increase slightly from $118,912 to $128,650, Nakamoto’s wealth would surpass Buffett’s.

Buffett once likened Bitcoin to “rat poison” and declared in 2022 that even buying all Bitcoin for $25 wouldn’t tempt him, despite its 204% increase since then. Currently, Nakamoto’s fortune trails Buffett’s by only $12 billion.

Forbes calculates the net worth of billionaires by monitoring public holdings and estimating private holdings based on relevant market indices. Nakamoto’s Bitcoin fortune is frequently estimated through an analysis known as the “Patoshi Pattern.” This pattern reflects early mining operations where a single entity mined the first 22,000 Bitcoin blocks—a feat many attribute to Nakamoto. The pattern suggests Nakamoto mined 1.1 million BTC, aligning with Arkham Intelligence’s approximation of 1.096 million BTC.

Despite the widespread belief regarding Nakamoto’s holdings, the precise amount of Bitcoin owned by Nakamoto remains uncertain, with the potential for slightly more or less than the estimates suggest.

The true identity of Satoshi Nakamoto remains shrouded in mystery, despite numerous attempts to reveal it. Theories range from Bitcoin Core developer Peter Todd, who has denied the claim, to notable figures like Adam Back and the late Hal Finney. Others speculate on possibilities such as Tesla CEO Elon Musk’s involvement, a group effort, or even a clandestine governmental initiative. Yet, no conclusive evidence has confirmed these theories.

As Econoalchemist, a pseudonymous Bitcoin miner, told Decrypt, “I think Satoshi was one person in terms of the number of entities that controlled his accounts, like the Bitcoin Talk Forum. But I do believe Satoshi was well-connected among cryptographers, researchers, and cypherpunks, and he leveraged those relationships to build Bitcoin.”

To date, Bitcoin wallets thought to be Nakamoto’s have never recorded any activity, according to Arkham Intelligence. This silence has led to speculation that Nakamoto might no longer be alive. The question looms: why not sell at least a fraction amidst Bitcoin’s significant appreciation?

Even if Nakamoto is alive, there might be reasons against selling. As Econoalchemist speculated, “I do think Satoshi could still be alive, but I don’t think he would ever sell his coins. He built an alternative cash system, and I don’t believe he did that for the gains in the failed system Bitcoin was designed to replace.”

Recently, a proposal was submitted to enhance Bitcoin’s blockchain software, targeting the hypothetical threat posed by quantum computing. Although this proposal will affect only 25% of all Bitcoin, including Nakamoto’s alleged holdings, its advocates argue that the potential risk necessitates preventive measures.

Experts, increasingly concerned, warn that quantum computing could eventually crack the cryptographic keys protecting lucrative wallets. Should this occur, not only Nakamoto’s BTC but an entire 25% of the total Bitcoin supply, as estimated by Deloitte, could be compromised, leading to a catastrophic “liquidation event.”

According to Decrypt

Source: Original article

AI Engineer Shares Tips for Entering Big Tech Industry

Staff ReporterBusiness, Technology 0

Despite the changing landscape of tech education, both traditional higher education and strategic career moves remain vital for securing a role in AI engineering, according to Kriti Goyal, a successful machine learning engineer based in the United States.

Kriti Goyal’s journey into the realm of artificial intelligence and machine learning began in the unlikely setting of Bikaner, a small town in Rajasthan, India. Initially inclined towards medicine, her trajectory changed after watching a pivotal video presented by tech leaders like Mark Zuckerberg and Bill Gates. This video illuminated the power of coding as a tool to transform ideas into tangible products, setting Goyal on a path that would lead her to a prominent role in a major U.S. tech firm.

Currently a member of the Foundation Model framework team, Goyal plays a critical role in constructing the foundations of machine learning models. Her work involves developing code that enables software to identify and generate patterns from unrecognized data, a task integral to the advancement of machine learning applications.

Goyal’s professional journey began with an internship in India at the same company where she is now employed in the U.S. Although she enjoyed her time working in India, she realized that core strategic decisions were predominantly made at the company headquarters in the United States. This realization fueled her decision to move to the U.S. in pursuit of professional growth.

The pivotal decision to pursue a master’s degree was instrumental in facilitating her transition to the United States. Goyal valued the advanced knowledge acquired through her master’s program at the University of Wisconsin-Madison, but she also emphasized the importance of networking. The connections made during her studies proved advantageous when she reached out to former colleagues and managers, ultimately easing her path to securing a machine learning internship.

Her proactive approach during her internship included pitching internal projects to various teams, a strategy that played a significant role in her securing a full-time role in AI engineering. Her current role as a machine learning engineer involves a daily routine of research, team collaborations, and coding—a balance she finds rewarding.

Goyal acknowledges the evolving nature of tech education, noting that while higher education remains beneficial, it’s not the only pathway to success. She highlights a noticeable bias in hiring practices that favor candidates with advanced degrees, but also recognizes the potential to bypass traditional pathways through networking and proving one’s skills. Goyal suggests that environments like San Francisco and New York offer opportunities to replicate the networking and structured systems traditionally provided by universities.

This multifaceted approach reflects Goyal’s perspective that while academia can offer advantages, particularly in teaching, tech professionals can also succeed by demonstrating their abilities and adapting to the dynamic demands of the industry.

Source: Original article

Indri: India’s Emerging Premium Single Malt Whisky Brand

Staff ReporterBusiness, Economy 0

Indri Whisky from India is revolutionizing the industry by combining traditional methods with innovative flair, making its premium single malts stand out on the global stage.

Indri, one of India’s burgeoning premium whisky brands, epitomizes a shift from mass-market blends to acclaimed single malts, demonstrating the country’s evolving strength in the global whisky market. Rooted in Haryana’s rich agricultural plains near the Himalayan foothills, Indri blends ancient Indian traditions with contemporary distilling techniques.

Named after the village of its distillery in Karnal district, Haryana, Indri thrives in a distinct microclimate characterized by hot summers and tempered winters, courtesy of the brisk Himalayan winds. This climate aids in creating a maturation profile that balances rich fruit and layered oak with spice, offering a surprising structural finesse to whisky connoisseurs accustomed to rapid maturation in tropical climates.

Part of Piccadily Distilleries, itself a division of Piccadily Agro Industries Group founded in 1967, the Indri distillery was established in 2012. Prior to its launch, the company had already gained local prominence through brands like Whistler and Kamet. Inspired by the global accolades received by Indian single malt pioneers such as Amrut and Paul John, the distillery ventured into crafting authentic single malts. Sourcing high-quality six-row Indian barley from Rajasthan and employing copper pot stills manufactured in India, the distillery ensures an authentic local touch.

The maturation process at Indri involves a mix of cask types, including ex-bourbon barrels, premium French red wine casks, and Pedro Ximénez (PX) sherry casks. With the first domestic single malt release in 2020 and international spread in 2021, they practice small-batch craftsmanship with careful cask management, which is vital due to India’s accelerated maturation rates owing to its warm climate.

Indri’s signature bottling, Trini – The Three Wood, matures in three different cask types: ex-bourbon, French wine, and PX sherry. This variety infuses a smooth, fruit-forward character with layered spice notes, presenting an appealing option for whisky novices and aficionados alike. Moreover, for those seeking bolder flavors, the DRU (Distiller’s Reserve Unfiltered) at cask strength and other Single-Cask releases, such as the 7-Year-Old Red Wine Cask, provide deeper tasting experiences. Each expression showcases the brand’s innovation and dedication to authentic craftsmanship, reflecting Indri’s ability to challenge conventional whisky-making narratives.

Indri’s whiskies consistently meld orchard and tropical fruit notes, sweet malt aromas, and seasoned oak spices, evident of careful maturation practices. Since its global debut, Indri has rapidly been recognized in international spirit competitions, with critics lauding its balanced complexity and market value, solidifying its status among the top Indian single malts and emerging global brands.

The DRU (Distiller’s Reserve Unfiltered) Single Malt stands out with its bold, unfiltered character. Bottled at natural cask strength, it offers an intense array of caramel, toasted oak, tropical fruit, and nuanced baking spices. The robust mouthfeel and high proof amplify these flavors, contributing to a long, warming finish.

Meanwhile, Indri’s 7-Year-Old Single Malt matured in a red wine cask enriches its robust malt with vinous depth, providing an aromatic collage of dark berries, spiced plum, and creamy butterscotch. This single-cask release offers a smooth palate with jam-like notes, caramelized sugar, and subtleties of tannins, culminating in a lingering, fruit-forward finish.

The Trini – The Three Wood, as the distillery’s flagship, exemplifies its balanced craftsmanship. Matured in three cask types, it delivers a rich profile with honeyed malt, dried fruits, and seasoned oak, ensuring an approachable yet complex tasting adventure.

In essence, Indri represents India’s bold stride into the world of premium single malt whiskies, paralleled with the finest Scotch and Japanese offerings. Its terroir-driven production attracts both local and international enthusiasts eager to explore India’s single malt sensation, making Indri a compelling choice for whisky enthusiasts worldwide.

Source: Original article

Trump Uses Office to Boost Family Business Profits

Staff ReporterPolitics, Business 0

President Donald Trump’s second term has been marked by leveraging the power of his office for unprecedented personal gain, drawing scrutiny over perceived conflicts of interest.

In a stark departure from the promises of his first term, President Donald Trump has increasingly entwined his political role with his business interests during his second term, resulting in significant financial gains for the Trump family businesses. From investments in cryptocurrency to international development deals, the Trump Organization has seen an unprecedented influx of wealth since Trump’s election, amassed from varied sources, including foreign governments and billionaires.

James Thurber, an emeritus professor at American University specializing in political corruption, noted the abnormal nature of these developments, emphasizing that Trump appears to prioritize personal wealth over public interest. The scale of the Trump Organization’s income during his second term surpasses that of the first, with sprawling ambitions stretching from virtual currencies to global development projects.

A notable shift in the Trump family’s business operations involves cryptocurrencies, where they have reportedly garnered substantial returns. A conservative estimate pegs one of Trump’s crypto ventures at generating at least $320 million since January, while another secured a $2 billion investment from a foreign sovereign wealth fund.

Trump’s family members have been active internationally as well, pursuing new development opportunities in the Middle East and working on a Mediterranean island resort in partnership with Albania’s government. First lady Melania Trump, too, has cashed in, securing a $40 million documentary deal with Amazon, a company whose founder was a frequent target of Trump’s criticisms.

The Trump administration’s intertwining of presidential duties with business interests has drawn criticism for apparent conflicts of interest. However, little consequence is expected, as a Republican-controlled Congress and a Supreme Court with a conservative majority have created an environment where Trump is unlikely to face serious repercussions. Notably, Congress has relaxed oversight mechanisms that previously held presidents accountable for such conflicts.

In some cases, Trump’s own allies have cautioned against certain actions, but these warnings have largely gone unheeded. For instance, Trump accepted a $400 million airplane from the Qatari government, announcing it would be added to his presidential library after leaving office. Such moves have led critics, like Oregon Senator Jeff Merkley, to label the situation as highly corrupt.

Since the scandal surrounding President Richard Nixon, most presidents have taken measures to distance themselves from financial conflicts. However, Trump deviates from this precedent, having handed control of his business empire to his children rather than placing it in a blind trust. This arrangement leaves his financial dealings closely tied to his presidency.

Trump’s foray into cryptocurrencies highlights a significant conflict of interest, as he once criticized them but has since promoted crypto ventures he and his family stand to benefit from. His administration’s efforts to relax industry oversight raise questions about whether his policies are influenced by personal profit rather than national interest.

The Trump Organization has not provided comments regarding its cryptocurrency activities, and White House statements claim that Trump’s legislative actions in the crypto sector aim to position the U.S. as a global leader in digital finance, rather than self-driven financial motives.

Trump’s burgeoning crypto ventures—managed by his sons and associates—underscore the potential for financial gain. For instance, his meme coin, $Trump, earned substantial fees after initial elections. Transparent conflict issues remain as industry insiders reportedly promised financial backing for Trump’s campaign.

The administration’s recent crypto policies, such as the prohibition of certain cryptocurrencies by Congress members, were sought by the industry and have benefited Trump’s business connections. High-profile foreign investors linked to questionable dealings have also surfaced, including Justin Sun, whose investments in Trump’s crypto projects correlate with potential legal indulgences.

Amid these controversies, Trump continues to host events that enhance the allure of his brand, such as a dinner for top crypto investors. Such strategies amplify concerns among experts who equate Trump’s monetization of the presidency with sidestepping traditional political finance laws.

While other political figures have adhered to stringent regulations on campaign contributions, Trump’s incorporation of cryptocurrency appears to bypass these legal frameworks, raising alarms among legal professionals.

According to The Associated Press, Trump’s ventures represent a significant departure from previous presidential norms, suggesting an evolving landscape where digital assets redefine political finance dynamics.

Top 10 Cities for Millionaires to Live and Invest by 2025

Staff ReporterEconomy, Global 0

The list of the world’s richest cities in 2025 reveals a dynamic shift, with emerging metropolises like Singapore and Sydney gaining prominence among the ultra-wealthy alongside established financial hubs.

The financial landscape of the world is undergoing a significant transformation as we approach 2025, with new trends emerging in the distribution of wealth. While cities such as New York and the Bay Area remain at the forefront as major financial hubs, other cities like Singapore and Sydney are seeing a rise in prominence as top destinations for the affluent. This shift is encapsulated in a recent report from Henley & Partners in collaboration with New World Wealth, which outlines the world’s wealthiest cities based on millionaire and billionaire populations.

New York City continues to lead as the richest city globally, boasting approximately 384,500 millionaires, 818 centimillionaires (individuals with assets exceeding $100 million), and 66 billionaires. The city’s financial industry, coupled with its high-end real estate market and cultural attractions, makes it an enduring draw for the ultra-wealthy despite challenges such as high living costs and concerns about safety.

In the United States, the Bay Area, encompassing Silicon Valley and San Francisco, holds its place as a burgeoning center of wealth. With a staggering 98% increase in prosperity over the past decade, the area is now home to around 305,700 millionaires. Its renowned tech sector and culture of innovation are key factors driving this economic surge.

Tokyo establishes itself as the wealthiest city in Asia, with 298,300 millionaires. The steady accumulation of wealth in the city is attributed to technological advancements, a strong corporate presence, and a stable economy.

Singapore is emerging as a favored enclave for affluent individuals, with 244,800 millionaires and 30 billionaires residing in the city-state. Its appeal is rooted in factors such as safety, a lack of capital gains tax, and pro-business regulations, which together foster an environment conducive to wealth accumulation.

Los Angeles finds its niche by blending entertainment with business, hosting 43 billionaires, 516 centimillionaires, and 212,100 millionaires. Though Hollywood remains its claim to fame, the city is also a major hub for industries such as real estate and technology.

Although London has experienced a 15% decline in its wealthy population over the past decade, with 227,000 millionaires, it remains an appealing destination due to its historical and cultural significance. Challenges like Brexit, increased taxes, and changes to domicile laws have impacted its affluent demographics, but the city’s allure persists.

Paris, with 165,000 millionaires, is the richest city in mainland Europe. Its unique combination of business, fashion, and culture ensures its ongoing attraction for wealthy individuals.

Hong Kong continues to be a vital financial hub, home to 154,900 millionaires. Despite a slight dip in its affluent population, the city’s financial services industry and strategic location maintain its draw for the wealthy.

Sydney, with its growing community of 152,900 high-net-worth individuals, is increasingly popular among the world’s wealthy elite. Economic growth and a high standard of living are key drivers of its rising status among affluent citizens.

Chicago rounds out the top ten wealthiest cities with 127,100 millionaires. Its diverse economy and strategic location make it a significant center of wealth within the United States.

The global distribution of wealth is notably shifting, as cities that were not traditionally seen as financial epicenters begin to attract and cultivate significant concentrations of wealth. This trend signifies a change in where the ultra-rich choose to live and invest their fortunes, pointing to broader economic and social transformations on the global stage.

Cheers to New Beginnings: Foreign Exchange Brewing Co. Celebrates Grand Opening in Aurora

Ajay GhoshBusiness, Community 0

Asian Media USA ©

Aurora, IL: On July 2, 2025, downtown Aurora buzzed with excitement as Foreign Exchange Brewing Co. officially opened at 110 Cross St, Aurora, IL 60506. The grand opening, marked by a vibrant ribbon-cutting ceremony at noon, drew local dignitaries, community members, and beer enthusiasts to celebrate a milestone for Aurora’s growing business scene. With clinking glasses, heartfelt speeches, and a palpable sense of pride, Foreign Exchange emerged as a symbol of innovation, flavor, and community in the city.

 The event was a lively blend of music, cheers, and camaraderie, reflecting Aurora’s growth and the entrepreneurial spirit of Foreign Exchange’s founder, Ricky. The brewery, a homegrown venture, has been crafting and distributing beers for five years, but this opening marked its first permanent home in Ricky’s hometown. The crowd’s energy was electric, with chants of “Heat! Heat! Heat!” echoing through the streets, a playful nod to the passion fueling the day.

 Samir, a broadcaster from Asian Media USA, emceed the event with infectious enthusiasm. “We’re here at the grand opening of Foreign Exchange Brewing Co.,” he announced. “This is a big moment with a ribbon-cutting, the mayor’s office, aldermen, and tons of people. It’s a celebration of business growth in Aurora—and beer! Woohoo!” His words set the tone for a day filled with community spirit.

 The ribbon-cutting was a highlight, symbolizing not just a new brewery but the realization of a dream rooted in Aurora. Attendees included representatives from the Aurora Convention and Visitors Bureau, Deputy Mayor Casey Quas, and aldermen Carl Franco (Ward 5), Will White (Alderman at Large), and Jonathan Nunees (Ward 4). Their presence underscored the city’s commitment to fostering local businesses and economic growth.

 Alderman Jonathan Nunees spoke with pride about Aurora’s transformation. “It’s amazing to see what downtown Aurora versus what it is today was,” he said. “The most important thing is seeing a fellow Auroran reinvest in this community with Foreign Exchange.” Having visited during the soft opening, Nunees praised the brewery’s beers and welcoming vibe. “If you haven’t tried their products, you’re in for a treat,” he said, sparking cheers.

 Deputy Mayor Casey Quas delivered a warm welcome on behalf of the mayor’s office. “Thank you for choosing Aurora as your home,” Quas said. “We’re excited and here to support you.” The sentiment reflected the city’s embrace of Foreign Exchange as a cornerstone of downtown’s revival.

 Ricky, the visionary behind Foreign Exchange, was the event’s heart. His journey from homebrewing in Leland Tower to opening a brewery showcased perseverance and community spirit. “I started home brewing right over there,” he said, pointing to the nearby building. “It’s crazy to see it grow into this. We’ve been brewing for five years, and now we have a home in my hometown.” Ricky emphasized the brewery’s mission to build community through exceptional beer and a space for connection. “We hope to be a beacon for Aurora, where people enjoy their time and discover local businesses,” he said, crediting his “killer” kitchen staff and top-tier cocktail program.

 The ribbon-cutting was a moment of pure joy. As the crowd counted down, “One, two, three!” the ribbon fell, and applause erupted, accompanied by more “Heat! Heat! Heat!” chants. Photographers captured every moment, from VIP smiles to the excitement of first-time visitors eager to sample Foreign Exchange’s offerings.

Foreign Exchange Brewing Co. is more than a brewery; it’s a love letter to Aurora. The space at 110 Cross St. is a gathering place for craft beer enthusiasts, foodies, and locals. The menu features diverse beers—crisp lagers to bold IPAs—crafted with precision. The kitchen offers dishes that pair perfectly with the drinks, while the cocktail program elevates the experience with creative flair.

 The opening highlighted Aurora’s evolution into a hub of innovation and culture. As Nunees noted, downtown Aurora has transformed, with businesses like Foreign Exchange leading the charge. The brewery’s commitment to quality and community aligns with the city’s vision of a vibrant, inclusive downtown.

For many, the event was personal. “My family has been waiting for this place to open,” Samir shared, echoing the crowd’s sentiments. The brewery’s opening is a win for beer lovers and anyone who believes in the power of local businesses to transform communities. Guests mingled, sampled beers, and explored the inviting space as music played, and optimism filled the air.

 Foreign Exchange isn’t just a business; it’s a symbol of Aurora’s resilience and creativity. By choosing Aurora, the brewery invests in the city’s growth, inviting others to do the same. Whether you’re a craft beer aficionado or seeking a place to connect, Foreign Exchange is a destination worth visiting.

 As the sun set on July 2, 2025, the grand opening left a lasting mark on Aurora. Foreign Exchange’s story is just beginning, but its impact is clear: it’s a place where community, creativity, and great beer unite. Here’s to Foreign Exchange—a new home, a new beginning, and a reason to raise a glass in Aurora.

 Covered by Asian Media USA, under the leadership of Chairman Suresh Bodiwala, this event highlights the organization’s dedication to showcasing community stories. Asian Media USA remains committed to celebrating Aurora’s entrepreneurial spirit and cultural richness.

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 Suresh Bodiwala
Chairman

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Rupee Declines as US Inflation Concerns Elevate Dollar

Staff ReporterEconomy, Finance/Economy 0

The Indian rupee weakened slightly as U.S. inflation reports signaled rising costs due to tariffs, diminishing expectations for Federal Reserve rate cuts and boosting the dollar.

The Indian rupee closed at 85.94 per U.S. dollar on Wednesday, marking a decline of 0.1% from its previous close of 85.81. This move was influenced by the latest U.S. inflation data, which indicated that tariffs were starting to drive up prices, consequently weakening the likelihood of rate cuts by the Federal Reserve. This pushed U.S. Treasury yields higher and gave a lift to the dollar.

The dollar index stood at 98.5, close to the three-week high reached on Tuesday, while most Asian currencies traded flat to slightly lower. U.S. consumer prices showed the largest jump in five months in June, highlighting the impact of tariffs on certain goods.

According to the CME’s FedWatch tool, the probability of the Federal Reserve maintaining its current rate levels in September has increased to almost 50%, a significant rise from about 30% the previous week. This shift comes amid ongoing pressure from U.S. President Donald Trump, who has consistently criticized Federal Reserve Chair Jerome Powell for not reducing benchmark interest rates.

MUFG noted, “Building evidence of the pick-up in inflation from tariffs supports the Fed’s caution over resuming rate cuts in the near-term despite the barrage of criticism from the Trump administration.”

The stronger dollar pushed the rupee below the 86 mark during early trading on Wednesday. However, the rupee recovered as a surge of dollar selling interest emerged at this level, noted traders from a state-run bank. They also highlighted dollar sales by large custodian banks, typically indicating foreign portfolio inflows, as another factor bolstering the rupee.

In India’s stock markets, the BSE Sensex and the Nifty 50 indices closed slightly higher, despite declines seen in most regional markets.

Market participants are now focusing on upcoming U.S. wholesale inflation data and remarks from Federal Reserve policymakers for further indications on the future path of U.S. interest rates. Additionally, updates on U.S. trade negotiations remain in view, although market reactions to these have become more muted compared to earlier in the year.

Fed Reports Businesses Passing Tariff Costs to Consumers

Staff ReporterCover, Economy 0

Businesses are transferring increased input costs due to tariffs onto consumers, resulting in higher prices, according to the Federal Reserve’s latest report.

The Federal Reserve’s recently released “Beige Book,” an anecdotal survey of domestic economic conditions, has highlighted a widespread trend wherein businesses across various sectors are raising prices to counter the additional costs imposed by tariffs. This trend was reported across all 12 of the Fed’s regional districts, reflecting a national impact.

“Many firms passed on at least a portion of cost increases to consumers through price hikes or surcharges,” noted the Beige Book. Companies that opted not to pass these costs on to consumers encountered narrowed profit margins, as consumer price sensitivity continues to grow.

The Labor Department reported an increase in the Consumer Price Index (CPI) in June, partially attributed to these tariffs, with the annual rise reaching 2.7% up from 2.4% in May and 2.3% in April. This increase aligns with economists’ predictions, who anticipated that the inflationary pressures from tariffs would become visible as summer progressed and as prior inventories cleared.

Fitch Ratings has cited the aggregate U.S. tariff rate at 14.1%, marking the highest rate in decades. This figure encompasses President Trump’s 10% general tariff, along with specific tariffs targeting China and certain individual goods. However, the country-specific “reciprocal” tariffs are currently on hold amid ongoing trade negotiations, and will remain paused until August 1.

Import prices recorded a modest increase of 0.1% in June, according to the Labor Department, yet they are down 0.2% compared to the previous year due to lower energy prices. This outcome fell short of economists’ expectations. Fuel import prices decreased by 0.7% in June, following a significant 5% drop in May, as tensions in the Middle East influenced global energy markets. West Texas Intermediate crude oil witnessed a decline of over 10% this month.

Excluding fuel and food imports, core import prices saw a moderate rise of 0.2% in June, following a smaller 0.1% increase in May.

Adding to the economic dynamics, the U.S. dollar has depreciated by approximately 9% since the start of the year, a trend exacerbated by the ongoing trade war initiated by President Trump. Economists suggest that this decline in the dollar’s value could further exacerbate inflation.

Michael Pearce, deputy chief U.S. economist at Oxford Economics, commented to Reuters, “Since the Trump administration began imposing tariffs, the dollar has depreciated, which could lead to a larger pass-through from tariffs to consumer prices.” He underscored the potential for a weaker dollar to amplify the likelihood of firms transferring a more significant share of tariff costs to consumers.

Coca-Cola Disputes Trump’s Sugar Claim, Supports Corn Syrup Safety

Staff ReporterBusiness, Health 0

The Coca-Cola Company has disputed former President Donald Trump’s assertion that it would replace high-fructose corn syrup with cane sugar in its U.S. beverages.

The Coca-Cola Company has publicly refuted a claim made by Donald Trump regarding a potential switch from high-fructose corn syrup to cane sugar in their U.S. beverages. Trump, in a post on Truth Social, stated that he had discussions with Coca-Cola executives and that the company had agreed to use “REAL Cane Sugar” in their products. He expressed his gratitude toward Coca-Cola’s decision-makers, suggesting that the change would be beneficial.

Initially, the beverage giant responded with a polite statement acknowledging the former president’s enthusiasm. Coca-Cola expressed interest in exploring new offerings within their product line but did not confirm any shift to cane sugar. By Thursday, however, the company released a more comprehensive statement defending the use of high-fructose corn syrup, which has been a subject of debate and concern over its links to obesity.

In its statement, Coca-Cola clarified that high-fructose corn syrup, despite its long name, is merely a corn-derived sweetener. The company emphasized its safety, noting that HFCS contains calories similar to table sugar and is metabolized similarly in the body. Furthermore, Coca-Cola referenced the American Medical Association (AMA), which has indicated that HFCS is no more culpable for obesity than table sugar or other full-calorie sweeteners. Coca-Cola assured consumers that its products do not contain harmful substances.

The American Medical Association in 2023 declared that there is insufficient evidence to specifically limit high-fructose corn syrup use in the food supply or necessitate warning labels on products containing HFCS. According to a report by The Guardian, Trump has been known for his preference for Diet Coke, including the installation of a button in the Oval Office to summon a butler with a can. Interestingly, Diet Coke is sweetened with aspartame, an artificial low-calorie sweetener, rather than corn syrup or cane sugar.

This development follows repeated discussions and controversies surrounding sugar alternatives in food and beverage products in the United States, with varying opinions among experts and consumers about their health implications.

According to The Guardian, Coca-Cola’s continued defense of high-fructose corn syrup highlights the company’s commitment to maintaining its current formulation at least for now with a focus on addressing public health concerns through accurate information.

Larry Ellison Becomes Second Richest After Oracle AI Investments

Staff ReporterBusiness, Technology 0

Oracle founder Larry Ellison, at 80, has surpassed Mark Zuckerberg to become the world’s second-richest person, with a net worth climbing to $251 billion following Oracle’s strong earnings and strategic investments in AI infrastructure.

At the age of 80, Larry Ellison has surpassed Mark Zuckerberg, becoming the world’s second-richest person. Ellison’s net worth now sits at $251 billion, bolstered by a dramatic increase of nearly $60 billion in 2025 alone, as reported by the Bloomberg Billionaires Index.

Ellison’s financial ascent is largely attributed to his substantial 40% stake in Oracle, the database company he founded in 1977. Oracle’s value has surged by 41% so far this year, with substantial gains seen in recent weeks.

The soaring stock value comes amid a favorable market landscape for artificial intelligence investments, a sector in which Ellison has been heavily involved. The tech industry has benefited from policies under Trump’s second presidency that favor AI stocks. For instance, Nvidia’s CEO Jensen Huang, similar to Ellison, has seen significant growth in wealth, partially due to the government’s approval for his company to ship advanced microchips to China.

Ellison prominently aligned himself with President Trump during the unveiling of Stargate, a major initiative aimed at strengthening the U.S. position in AI development. This ambitious project plans to invest $500 billion into AI infrastructure over the coming four years, with Oracle, SoftBank, OpenAI, and MGX serving as initial equity founders. Oracle and OpenAI are also pivotal technology collaborators alongside companies like Arm, Microsoft, and Nvidia.

Recent increases in Oracle’s value are linked to the company’s robust performance and heightened commitment to AI investments. Oracle recently announced impressive year-end results, reporting Q4 revenues of $15.9 billion, marking an 11% increase, while remaining performance obligations rose by 41% to $138 billion.

Continuing its AI focus, Oracle has committed an additional $3 billion to expand cloud services and AI infrastructure in Germany and the Netherlands. Despite the positive investor response to Oracle’s moves, some analysts urge caution regarding future projections for the company.

A report from Goldman Sachs following Oracle’s fiscal results adopted a ‘neutral’ stance, with analysts noting Oracle’s strong Oracle Cloud Infrastructure demand momentum. Nonetheless, they warned of potential risks, suggesting that the company might overcommit to low-margin, capital-intensive training cycles that could impact its future free cash flow generation.

Trust in US Dollar’s Global Supremacy Diminishing

Staff ReporterCover, Economy, Politics 0

Global de-dollarization is not a threat to stability but rather a rebalancing of global monetary dynamics as countries reject an economic system historically tilted in Washington’s favor.

For over eighty years, the U.S. dollar has held the position of the world’s leading reserve currency, established at the 1944 Bretton Woods Conference and reinforced by the United States’ postwar industrial prowess and military influence.

Today, this dominance is increasingly being challenged from various fronts worldwide—from African revolutionary initiatives to economic recalibrations within Europe, and from the collective counteractions of BRICS nations to the geopolitical complexities involving Ukraine and Israel.

The erosion of global trust in Washington’s leadership of the international financial order has hastened a long-anticipated shift toward a multi-polar monetary structure.

The BRICS economic alliance, consisting of Brazil, Russia, India, China, and South Africa, and recently expanded to include Egypt, Saudi Arabia, Argentina, Ethiopia, Iran, and the United Arab Emirates, is spearheading this de-dollarization trend. Now surpassing the G7 in purchasing power parity (PPP), BRICS is increasingly pushing for a reformed global financial system.

Nations within this bloc have begun trading in their own currencies, reducing reliance on the U.S. dollar. For example, India and Russia conduct oil transactions in rupees and rubles, while China and Brazil have developed processes for settling trade in yuan and Brazilian reals. Russia’s exclusion from the SWIFT financial system following its invasion of Ukraine has expedited this transition.

Economist Jeffrey Sachs has criticized the United States for using the dollar as a geopolitical tool through financial sanctions and trade restrictions. In response, countries in the global south are vigorously pursuing economic autonomy.

A quiet yet significant movement is unfolding in Africa, especially across the Sahel region. Influential leaders, such as Ibrahim Traoré of Burkina Faso, have declared intentions to abandon the CFA franc, a currency historically linked to French control and the euro. Traoré has emerged as a prominent voice in the call for economic self-governance, proposing the establishment of a pan-African currency to serve as a symbol of decolonization.

The proposed unified African currency, supported by countries like Mali, Niger, and Guinea, represents more than monetary policy; it signals a decades-long economic revolution. The West African bloc ECOWAS is actively discussing the long-overdue “Eco” currency as a challenge to U.S. and European monetary dominance.

African intellectuals and economists, including Kenyan professor PLO Lumumba, argue that political independence must coincide with economic sovereignty. This transformation is as much about identity and dignity as it is about financial transactions.

Recent calls in Italy and Germany to retrieve parts of their gold reserves from the United States highlight the underlying global uncertainty. Previously, the Bundesbank demonstrated its skepticism by recalling gold during the Obama administration. The potential for a second Trump presidency and his aggressive policies have further catalyzed these precautionary measures.

As the U.S. faces mounting national debt exceeding $36 trillion and annual interest payments surpassing $1 trillion, its reliance on the dollar’s reserve status to finance deficits is increasingly questioned. Unlike other nations, the U.S.’s monetary policy allows it to print dollars freely, maintaining an economic equilibrium others do not share.

Nobel laureate Joseph Stiglitz has repeatedly cautioned against the continuous exploitation of this “exorbitant privilege,” which seems unsustainable. Emerging economies bear the brunt of inflationary pressures resulting from U.S. monetary practices, enduring economic volatility not of their own making.

Ongoing military expenditures in Ukraine and Israel undermine confidence in American fiscal responsibility and the dollar’s stability. These conflicts, supported through deficit financing, amplify doubts about the sustainability of U.S. financial practices.

Despite this, over 58% of global reserves remain dollar-denominated, and nearly 90% of currency exchanges involve the dollar, underscoring its entrenched global presence. However, the strength of any currency fundamentally relies on trust, which appears to be waning. A shift toward a multi-currency global economy with regional financial systems is increasingly plausible.

The critical issue is not if but when the dollar will relinquish its supremacy. As former President Donald Trump proposes steep tariffs on BRICS nations, the path forward for the U.S. depends on whether it will embrace financial modernization or hold onto privileges that the world may soon leave behind.

Initially, the dollar’s dominance was built on U.S. moral authority and industrial strength, but the contemporary landscape has evolved post-COVID and post-colonization. Nations worldwide are redefining economic sovereignty, critiquing a financial system long perceived as biased toward Washington.

In 2025, the persistent conflict involving the Palestinian people has exacerbated global discontent, further tarnishing the U.S.’s moral standing. The de-dollarization movement represents a recalibration of global economic power, not a threat. The global south is no longer petitioning for change; it is materializing it. Continued U.S. intransigence risks forfeiting both its currency leadership and international influence.

As Sachs noted, reliance on force is unsustainable for global leadership. The global community is realigning, each nation asserting its place in the evolving financial landscape.

Source: Original article

India, China Wealth Increased Through Rice Cultivation

Staff ReporterCover, Economy, India 0

Rice has long been central to economic growth in both India and China, fostering social structures that allowed entrepreneurial independence and later contributing significantly to the colonial economies through its adaptable cultivation.

Professor Emerita Francesca Bray of the University of Edinburgh, specializing in social anthropology, has explored the significant role of rice in historical agricultural societies. Her research reveals how rice cultivation shaped both the economic and social landscapes of regions, particularly in pre-colonial and colonial eras.

Initially delving into the history of agriculture in China, Bray’s interest broadened to agrarian networks and social systems, with a particular focus on rice due to its unique characteristics. Unlike global commodities like wheat and corn, which are traded and consumed internationally, rice is primarily consumed locally within the countries that produce it. This local consumption has kept rice fields smaller in scale and maintained a diversity of crops and occupations, unlike the standardized industrial monocultures prevalent with other grains.

This smaller scale of rice farming allowed for a deviation from feudal agricultural models. Many rice farms were managed by small-scale farmers rather than landlords, allowing them entrepreneurial freedom. As long as these farmers met rent obligations, they had autonomy and often evolved from tenants to landowners, a testament to the economic upward mobility facilitated by rice cultivation. In southern China and Malaysia, this system encouraged the accumulation of wealth within generations, as farmers frequently contributed taxes or reinvested into their own communities without the constraints of feudal labor systems.

Historian Roy Bin Wong’s work, “China Transformed,” challenges common characterizations of rice-based economies as less advanced than their Western counterparts. Bray highlights that the rice-centered economy of southern China evolved into a global economic powerhouse over centuries, developing sophisticated financial systems essential in global capitalism, even if it did not experience an industrial revolution akin to Europe’s.

With the onset of colonialism, rice became integral to the burgeoning global industrial economy. During the 18th century, it was a staple in the slave trade between West Africa and the Americas and became a primary food source for colonial workforces across the tropics. Rice cultivation expanded significantly under European colonial powers, who established export-driven rice zones in regions like Indochina and Indonesia. This expansion often displaced local markets and made rice a key commodity in supporting the global colonial labor force.

Colonial administrators imposed policies that formalized intensive labor practices, as noted by historian Peter Boomgaard. The expansion of rice fields often involved harsh conditions and tied workers to their labor through debt and cash taxes, a situation that later provided a foundation for the Green Revolution of the 1960s and 1970s.

Gender also played a significant role in rice production, differing from region to region. In China, traditional notions dictated that men worked the fields while women engaged in textile production at home, though the commercialization of the textile industry eventually saw more male participation. Despite many women working in rice fields, their contributions were underrepresented in historical records, highlighting a gendered perception of labor roles.

Rice’s historic and ongoing socio-economic impact in regions like India and China underscores its vital role in agricultural economies and its influence on broader global economic systems, according to Francesca Bray.

Source: Original article

International Students Overlook India’s Growing Business Schools

Staff ReporterBusiness, Education, India 0

Despite India’s booming economy and the increasing stature of its business schools, international student enrollment remains low due to a lack of brand awareness and understanding of the benefits of studying in the country.

India’s economy is booming, and its top business schools are climbing the global rankings, making the country a rising star in higher education. Despite this growth, international students remain scarce in India’s educational landscape, particularly within its business schools.

A new report from the education consultancy CarringtonCrisp provides insights into this phenomenon. Titled the International India study, the report is based on responses from 4,160 prospective business students across 22 countries. It found that while a substantial 79% of respondents are interested in studying abroad, a mere 8% consider India a likely destination for their studies. This low level of interest persists even amidst positive perceptions of India’s economy, visa accessibility, and welcoming environment.

“Despite the rapid growth of the Indian economy and the increasing prominence of its business schools, international students are rare, especially compared to the traditional education powerhouses of Europe, Australia, and North America,” says Andrew Crisp, the study’s author and co-founder of CarringtonCrisp. He attributes the low numbers to a significant lack of brand awareness and understanding of the advantages offered by studying in India.

The study highlights just how far behind India is in attracting international talent compared to its global peers. According to the All India Survey on Higher Education (AISHE), only 46,000 international students were enrolled in nearly 2,400 Indian institutions in the 2021-22 academic year, with more than a quarter coming from neighboring Nepal.

In stark contrast, the United Kingdom hosted over 750,000 international students in 2022-23, Australia reported more than 450,000 in 2023, and the United States saw its international student population rise to a record high of more than 1.1 million in 2024.

Recognizing this gap, the Indian government has sought to increase international enrollments by allowing institutions to admit up to 25% more students beyond their domestic capacity, specifically reserving these additional seats for international students. However, achieving growth in this area requires a deeper understanding of how India is viewed by prospective students globally—a focus of CarringtonCrisp’s report.

Despite India’s strengths, the report identified significant barriers to international enrollment, with awareness at the forefront. A full third of respondents admitted they could not name a single reputable Indian business school. Other cited barriers included a preference for studying in other countries (21%), lack of available scholarships (19%), and unease about living in India (17%).

However, there are notable advantages that Indian schools can leverage. India was rated second only to the United States for having a strong and dynamic economy (50% versus 52%), and as the most welcoming destination for international students (57%). It was also viewed as the easiest country to secure a student visa (56%).

Furthermore, India’s relative affordability is appealing. Nearly half (45%) of potential students saw India as offering excellent value for a business degree, and 41% found travel to the country affordable and convenient given its geographical proximity. Interest is particularly high among students in Nigeria (18%), the UAE (15%), and South Africa (15%).

Though long-term full-degree enrollment may be limited at present, there is strong enthusiasm among international students for shorter-term or hybrid programs with Indian institutions. Over 80% of survey respondents expressed a very or extreme interest in joint degrees between an Indian business school and one in their home country. There was also considerable interest in studying a single module for up to three months in India or engaging in multiple short, intensive courses offered by Indian schools.

“Building partnerships with institutions in other countries is a big opportunity for Indian business schools,” Crisp points out. “These programs can help schools build brand awareness, communicate the benefits of studying in India, and showcase the quality of their academic offerings.”

India’s top business schools are already expanding their global reach. IIM Ahmedabad recently launched its first international campus in Dubai, while the Indian School of Business (ISB) has expanded collaborations with leading universities in the U.S. and Europe. Additionally, more Indian schools are pursuing international accreditations and climbing global rankings published by organizations like The Financial Times and Poets&Quants.

These efforts, while promising, remain in their early stages compared with more established international education destinations. As the International India report emphasizes, building global appeal will require time, consistency, and creative partnerships.

Nevertheless, the report suggests a growing interest, particularly in education models that allow students to “sample” Indian education before committing to a full degree program. The challenge lies in converting this curiosity into actual enrollment.

“India has a strong story to tell,” Crisp concludes. “Now it needs to be heard.”

Source: Original article

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World’s Wealthiest Family Worth $1.4 Trillion Outpaces Musk, Bezos

Staff ReporterBusiness, Cover, Finance/Economy 0

The House of Saud, the ruling family of Saudi Arabia, boasts a staggering net worth of $1.4 trillion, surpassing the combined fortunes of prominent billionaires Elon Musk and Jeff Bezos.

The world often turns its gaze toward the immense wealth of individuals like Elon Musk, Jeff Bezos, Mukesh Ambani, Mark Zuckerberg, and Warren Buffett. However, a royal dynasty quietly eclipses them all in terms of combined fortune—the House of Saud, the ruling family of Saudi Arabia. Originating not from the corporate or financial hubs of Silicon Valley or Wall Street, their wealth instead hails from the heart of the Middle East, where they govern one of the most resource-rich nations on the planet.

The House of Saud’s financial empire is vast, with a net worth estimated at a staggering $1.4 trillion (£1.1 trillion). This outsized fortune towers over other notable figures, with Musk’s net worth around $396 billion (£313 billion), and Bezos at $240 billion (£190 billion). Saudi Arabia’s royal family far surpasses each, maintaining wealth on an unmatched scale.

The source of this wealth is deeply rooted in oil. As the ruling family of the world’s largest oil-exporting country, they control one of Earth’s most valuable natural resources. Central to this is Saudi Aramco, the national oil company considered among the most profitable worldwide, significantly contributing to the family’s financial dominion. Yet, their wealth doesn’t reside solely in oil. The House of Saud has wisely diversified, investing in real estate, art, technology, and private business ventures, extending its reach far beyond its oil-rich borders.

There’s little secrecy about the opulent lifestyle maintained by the Saudi royals. Their assets are breathtaking, including private jets, mega-yachts, palatial residences, priceless art collections, and an array of exotic cars. Notably, the family owns the world’s largest private jet, a customized Boeing 747-400, renowned for its lavish interior. Royals ride in style, with some vehicles in their garage, like gold-plated Lamborghini Aventadors and Rolls-Royce Phantoms, tallying a worth of over $22 million. Al Yamamah Palace, the king’s residence, is an epitome of grandeur—reportedly containing over 1,000 rooms.

An expansive family, the House of Saud includes approximately 15,000 members, yet true power remains concentrated among about 2,000 close relatives. Spearheading this dynasty is King Salman bin Abdulaziz Al Saud, who ascended the throne in 2015. The king is one of the renowned “Sudairi Seven,” sons born to the favored wife of Ibn Saud, the kingdom’s founding leader. He is succeeded by Crown Prince Mohammed bin Salman, known as MBS since 2017. MBS stands as a pivotal and sometimes polarizing figure, credited with Vision 2030—a sweeping reform initiative aimed at modernizing Saudi Arabia and reducing its economic dependence on oil. His tenure, however, has faced criticism regarding human rights concerns, involvement in the Yemen conflict, and the suppression of dissent. Despite these contentious issues, MBS’s wealth and opulent lifestyle are extraordinary, with assets such as the $400 million superyacht Serene featuring helipads, underwater observation areas, and lavish suites.

The Al Saud dynasty has governed Saudi Arabia for over 80 years, tracing its roots as far back as the 18th century. As one of the world’s oldest and most influential monarchies, the family seamlessly blends conservative Islamic governance with immense modern wealth. Unlike other royal families that often serve a symbolic role, the House of Saud remains actively engaged in governance, wielding influence over politics, religion, economics, and global affairs. This stands in stark contrast to the British royal family, whose financial worth and global influence, notably under the leadership of the late Queen Elizabeth II and now King Charles III, remain modest in comparison to the towering trillions managed by the Saudis.

Source: Original article

Gold and Silver Prices Drop Due to Global Tariff Uncertainty

Staff ReporterEconomy, Money 0

Gold and silver prices experienced a downturn on Tuesday due to growing uncertainty over U.S. tariff policy.

After enjoying a two-day rise, gold and silver prices took a hit as global markets reacted to increasing uncertainties surrounding U.S. tariffs. The India Bullion and Jewellers Association (IBJA) reported a significant decline in the price of 24-carat gold, which saw a reduction of over ₹300. The cost for ten grams of 24-carat gold fell by ₹387, decreasing from ₹98,303 to ₹97,916.

Similarly, 22-carat gold prices also registered a decline. Ten grams of this gold category dropped ₹354, from ₹90,045 to ₹89,691. In parallel, 18-carat gold experienced a reduction of ₹290, settling at ₹73,437 from its prior price of ₹73,727.

Jateen Trivedi, an analyst at LKP Securities, commented on the situation, saying, “Continued tariff escalations by the U.S. on its global trade partners have kept uncertainty high, which typically supports safe-haven buying in gold.”

Silver markets mirrored this downward trend as prices dropped by ₹1,870 per kilogram, moving from ₹1,13,867 to ₹1,11,997.

Despite these declines in the spot market, futures trading showed mixed results. Gold futures, set to expire on August 5, 2025, rose slightly by 0.04% to ₹97,815 on the Multi Commodity Exchange (MCX). Conversely, silver futures expiring on September 5 decreased by 0.29% to ₹1,12,611.

This pattern was echoed on international markets. On the Comex, silver prices fell 0.38% to $38.59 per ounce, while gold saw a minor increase of 0.21%, reaching $3,366.20 per ounce. Trivedi further explained, “Gold traded within a narrow band of ₹97,750 to ₹98,050, tracking positive momentum on Comex near $3,365 with a $20 gain.”

Upcoming U.S. Consumer Price Index (CPI) data expected later this week has also kept traders vigilant, with many anticipating ongoing volatility in gold prices. Analysts predict the price to fluctuate between ₹97,500 and ₹98,500.

However, the drop in prices on Tuesday did present a brief opportunity for buyers to acquire gold and silver at reduced prices before further market fluctuations occur.

According to IANS, these developments reflect a complex global economic landscape where investors continue to grapple with uncertainty.

India Misses Tariff Deal, Signals Potential Future Agreement

Staff ReporterEconomy, Diplomacy 0

President Donald Trump sent out new tariff rate letters last week to over two dozen countries, but notably omitted India, Taiwan, and Switzerland, signaling potential trade agreements may soon be formalized with these nations.

President Donald Trump recently dispatched letters to over 24 countries, detailing their new tariff rates and categorizing them as “trade deals.” However, India, Taiwan, and Switzerland, which did not receive any letters, are believed to be nearing potential agreements, with announcements possibly coming in the next few weeks.

Trump has previously hinted that an agreement with India is on the horizon, although specifics are still being finalized. Former officials familiar with U.S.-India trade relations interpret the absence of a letter as positive, suggesting that receiving one could have offended the Indian government, potentially disrupting a nearly concluded agreement between the two nations.

According to Mark Linscott, a former negotiator for the U.S. Trade Representative’s Office, “The letters are pretty aggressive and direct.” He explained that India might perceive such a letter as disrespectful unless it recognized the progress made in negotiations, thus derailing talks.

On Tuesday, Trump reiterated the possibility of a deal with India, assuring reporters that “we’re going to have access into India.” Despite this, the Indian embassy in Washington chose not to comment.

India’s trade delegation, led by Rajesh Agrawal, chief negotiator and special secretary in the Department of Commerce, arrived in Washington on Monday, rekindling hopes of an imminent trade deal. India stands as the largest U.S. trading partner among the nations subjected to Trump’s reciprocal tariffs but not served a letter. The European Union, South Korea, Japan, Canada, and Mexico, among others, have received threats of tariffs between 25 and 35 percent effective August 1.

This intense round of trade negotiations occurs amid sensitive economic conditions in the U.S. The Bureau of Labor Statistics reported Tuesday that the Consumer Price Index rose by 2.7% in June over the previous year, up from 2.4% in May, raising concerns that Trump’s higher tariffs might be inflating prices. This scenario has fueled worry among economists and the business community that trade uncertainties are adversely impacting the broader economy.

Alongside the impending August 1 deadline for instituting substantial tariffs on a multitude of countries, Trump is also contemplating additional tariffs unrelated to prior discussions, potentially complicating ongoing trade talks.

Trump has expressed dissatisfaction with the group of emerging market nations known as BRICS, which includes India. The president is considering a 50 percent tariff on Brazil due to the bloc’s recent initiatives to distance from the dollar as the global standard. He has also threatened a 10 percent tariff on all BRICS countries and even a 100 percent tariff on nations purchasing oil and gas from Russia amid the ongoing war in Ukraine. Notably, India is the second-largest importer of fossil fuels from Russia.

The initial agreement expected between India and the United States is seen as the first stage of a more all-encompassing trade deal anticipated by fall. In Trump’s administration, no deal is deemed complete until the president officially confirms it, as indicated by his last-minute intervention in a recent agreement made with Vietnam.

Lisa Curtis, former deputy assistant to the president and senior director for South and Central Asia on the National Security Council, remarked, “This is Trump. Until everything is signed, sealed, and delivered, there’s going to be a certain amount of nervousness.”

An unnamed White House official disclosed that currently, no additional tariff letters are being prepared, although they noted the situation remains “fluid.”

India began trade talks with the U.S. in February when Trump unveiled his ambitious global trade restructuring agenda. Despite the president’s ongoing discussions about mediating peace between India and Pakistan earlier this year complicating relations, the hope is still alive for a deal that Prime Minister Narendra Modi can present domestically.

In a previous administration, Trump nearly finalized a bilateral trade agreement with India akin to those negotiated with Japan and South Korea. However, the deal fell apart over disagreements on agricultural disputes and other contentious issues. Linscott noted, “India has put a heck of a lot on the table, particularly with respect to tariffs.”

Similar to India, Taiwan and Switzerland, which also conduct significant trade with the U.S. and didn’t receive letters, are in negotiations aimed at evading high “reciprocal” tariffs and those affecting vital sectors like Taiwan’s semiconductor and Switzerland’s pharmaceutical industries. Both countries have made substantial foreign investments in the U.S., including Taiwan Semiconductor Manufacturing Company’s $165 billion investment in semiconductor production in Arizona.

Notably, a list of 36 nations not receiving letters includes smaller countries with limited U.S. trade but still facing enormous tariff hikes. Trump previously lowered the steepest tariff rates for countries like Cambodia and Laos, but it’s uncertain if he will extend similar reductions to nations like Madagascar (47 percent), Mauritius (40 percent), or Lesotho, which currently faces a 50 percent tariff, the same punitive rate expected for Brazil.

An official from Paraguay expressed “relief” that the country hadn’t received a letter, though they couldn’t ascertain why their nation was spared while others were not. “There is no pattern still,” remarked the official. “All those countries have been involved in trade talks and controversies with the USA.”

The official lamented, “It is bad for everyone. We worked hard for so many years to have a trading system predictable and rules based,” emphasizing that the current situation reflects the opposite.

For countries like India not receiving letters, reaching substantive agreements seems more plausible.

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