The Economic Times

America is set to release oil from its strategic reserves. Early deliveries are expected by next week. This move aims to tackle rising energy prices. The release is part of a loan system. Companies will return extra barrels as a premium. This initiative is at no cost to taxpayers. It is a global effort with the International Energy Agency.

US-Israeli strikes killed Iran's leader but have not toppled the government, which now, from its perch on the Strait of Hormuz, has put the entire world economy on the war's frontlines. The government quickly put in place a new supreme leader, while its decentralised mosaic defence allowed the military to retaliate without losing much of a step.

Iran's military has warned of retaliation against oil companies linked to the US if its energy infrastructure is targeted. This comes after US forces struck military sites on Kharg Island, a vital oil export hub. Tensions are escalating around the Strait of Hormuz, a key global oil route.

A vehicular homicide charge against Jayden Ryan Wallace, 18, has been dropped. This follows the tragic death of high school teacher Jason Hughes during a late-night prank. The victim's family requested the charges be dismissed. Wallace and four other teenagers were involved in the incident. Hughes died after being struck by a pickup truck.

For the first time, the United States and Israel are fighting a war together, marking a major shift in their decades-long alliance. Earlier U.S. administrations had avoided direct military cooperation with Israel in conflicts, fearing backlash from Arab countries and wider regional tensions.

Is Jeffrey Epstein alive and living in Florida? A viral video from Florida shows a man in a convertible who looks like Jeffrey Epstein. Social media users claim it could be Epstein. Fact checks say Epstein died in jail in 2019. The video has revived conspiracy debates online again.

India and Iran leaders held successful talks on West Asia's security. Iran's representative stated Iran did not start the war but will defend its land. Indian leaders, including the External Affairs Minister and Prime Minister, have engaged in multiple conversations with Iranian counterparts. Discussions focused on regional stability, shipping safety, and energy security.

The U.S. Department of Commerce has withdrawn a proposed rule on AI chip exports that had been sent for inter-agency review in late February, without giving a reason. The plan, titled AI Action Plan Implementation, aimed to regulate global access to AI chips and reportedly considered requiring foreign countries to invest in U.S. data centres or provide security guarantees to receive large shipments.

American forces are increasing their presence in the Middle East with the deployment of Marines and an assault ship. Meanwhile, a large explosion occurred in Tehran during a state-organized rally. Iran continues missile and drone attacks on Israel and Gulf states. The conflict has impacted global oil trade and caused a humanitarian crisis in Lebanon.

India Inc's factory operations face disruption due to commercial LPG rationing. The Gulf war's impact on supplies is affecting manufacturing processes and even canteen menus. Companies are switching to electric cooking equipment and offering simpler meals to workers. This situation presents daily challenges for manufacturers across the country.

In the wake of the Gulf War, India is grappling with a shortage of LPG cylinders. However, the government remains steadfast, promising ample cooking fuel supplies and advocating for a transition to piped natural gas wherever feasible. Meanwhile, domestic LPG production has surged, and measures are being taken to ensure the safety of Indian seafarers navigating the Gulf waters.

India's Finance Minister Nirmala Sitharaman revealed a Rs 1 lakh crore Economic Stabilisation Fund. This fund will help the government manage external economic challenges. The minister assured Parliament that the fiscal deficit target will be met. Additional funds are allocated for defence, rural employment, and fertiliser subsidies. This proactive measure aims to protect farmers and the economy from global disruptions.

The United States has initiated a trade probe into sixty nations, including India, China, the EU, UK, and Japan. This investigation scrutinizes policies regarding goods made with forced labor. The US Trade Representative's office is seeking consultations and will hold public hearings. This move follows a separate probe into excess industrial capacity.

Why has US attacked Kharg Island, where is it located, and why is it very important for Iran? The strike was announced by Donald Trump. US forces targeted military sites on Kharg Island. The island handles most Iran oil exports. The move follows tension in the Strait of Hormuz and global energy concerns.

US preparing for a surprise ground offensive like Venezuela in Iran, and how to get $10 million reward for info on Iran new Supreme Leader Mojtaba Khamenei? The US is sending 2,500 Marines and naval ships to the Middle East while offering a reward for intelligence on Iranian leaders.

Social Security rule for retirees explained: A new law, the Social Security Fairness Act, is boosting benefits for public sector workers. This change removes penalties for those with pensions from jobs not paying into Social Security. Millions are already receiving retroactive payments. Retirees with public pensions should check their Social Security accounts for potential extra money in 2026.

Cuba has embarked on a pivotal conversation with the U.S. government, as President Miguel Diaz-Canel has announced that their talks are focused on mending strained relations. Amidst a critical economic downturn highlighted by frequent power outages and fuel shortages, Cuba is striving for greater energy self-sufficiency.

Why is silver price down by 3.3% and gold by 0.5%, and will precious metals continue to drop or rise again? Gold and silver prices moved lower this week as the dollar gained strength and interest rate cut expectations weakened due to inflation data and geopolitical tensions.

Indian exporters navigate the complexities of European Union regulations, which pose considerable hurdles. Fortunately, the RoDTEP scheme has emerged as a beacon of hope, granting significant relief to over 110,000 exporters.

Social Security Taxes 2026: Over 67 million Americans receive Social Security benefits, yet many retirees do not know up to 85% of their Social Security income can be taxed in 2026. The IRS uses a formula called combined income to decide the taxable share. If income crosses $34,000 for singles or $44,000 for couples, taxes apply. Rising COLA increases, interest income, and retirement withdrawals are quietly pushing more retirees above these long-frozen IRS thresholds.

After nearly two weeks of war, 2,000 people have been killed, most of them in Iran, but many also in Lebanon and a growing number in the Gulf, which has for the first time in decades of Middle East conflicts found itself on the front line. Several million people have been displaced from their homes. As Israeli warplanes pounded Beirut's suburbs with air strikes, Lebanon's interior minister said authorities were unable to accommodate the hundreds of thousands of people who have sought refuge in t

India's trade pact with the U.S. stands firm, safeguarding critical areas such as agriculture and dairy. This collaboration promises mutual advantages, enhancing technology access while propelling India towards its goal of becoming a global data hub. Additionally, the India-UK free trade agreement is anticipated to launch within a month, following a quick ratification by the UK Parliament.

Under the programme, Haryana will expand its air-quality monitoring network and develop a decision-support system to improve the use of data in pollution management and policy formulation.The programme also aims to mobilise about $127 million in private capital for investments across sectors such as transport, energy and industry.

Prime Minister Narendra Modi, addressing a programme in Guwahati, criticized Congress for spreading rumors amidst global economic crises. He highlighted the BJP government's efforts to strengthen India's energy infrastructure and reduce fuel dependence, alongside significant farm support and subsidies to shield farmers from international shocks.

Matthew McConaughey's perspective highlights that life is a continuous journey of commas, not definitive periods. His philosophy emphasizes ongoing growth, learning from experiences, and embracing new opportunities rather than viewing events as final endings. This outlook encourages a forward-moving approach to life's unfolding narrative.

Following an attack on Farooq Abdullah, the Union Home Ministry will review security protocols for all VIPs under central cover. Chaired by Amit Shah, the meeting included top security officials and comes as assembly elections approach in five states. The review also considered threats from the Middle East conflict.

Up to $1,330 checks for 460,000 families could come from Washingtons proposed millionaires tax bill. The plan adds a 9.9% tax on income above $1 million. Lawmakers say the tax could raise $3.5$4 billion yearly. That money would expand the Working Families Tax Credit and cut sales taxes on essentials. Supporters say the Robin Hood tax plan helps middle-class families. Critics warn the Washington income tax proposal may face constitutional challenges.

M.P. Ahammad, Chairman, Malabar Group, has been honoured with the prestigious Business Bhushan Award at the Lokmat Maharashtrian of the Year Awards 2026, in recognition of his visionary leadership and pivotal role in transforming the global jewellery retail landscape and society at large.

With great pride, the Ashmolean Museum has repatriated a 16th-century bronze idol back to its homeland, India. This significant gesture shines a spotlight on countless other Indian idols residing in foreign institutions, raising awareness around the pressing issue of cultural heritage rights.

In the stark expanses of Kutch, the Charans flourished as cultural stewards and powerful mediators of tradition. These elite bards wove tales of lineage and lore, wielding their lyrical prowess to affirm the legitimacy of rulers and ensure the enforcement of solemn agreements through divine oaths.

Iran war Indian casualties: These latest casualties brought the total number of Indian fatalities in the West Asia conflict to five. While the strike in Oman marked the first deaths on land, three Indian sailors have previously been killed in attacks on merchant vessels since the conflict erupted on February 28.

In a significant move for exporters, India's government has rolled out more than Rs 15,700 crore through the RoDTEP initiative this year, benefitting over 1.11 lakh businesses.

Book of the Day: Barbara Kingsolvers storytelling reminds readers that history is not just shaped by governments and leaders but also by the lives of ordinary families navigating unfamiliar worlds.

Quote of the day by Alistair MacLean: Renowned thriller author Alistair MacLean's powerful quote, To all things an end. To every night a dawn, offers enduring hope and resilience. His words remind us that even the longest nights eventually yield to a new day, a message deeply rooted in his own wartime experiences and prolific writing career.

India and the UK, on July 24 last year, signed the Comprehensive Economic and Trade Agreement (CETA) under which 99 per cent of Indian exports will enter the British market at zero duty, while tariffs on British products, such as cars and whisky, will be reduced in India.

India's imports from China are slowing, with exports growing faster this fiscal year. The government highlighted reduced dependency on Chinese imports in sectors like mobile phones, while also detailing non-tariff barriers faced by Indian exporters to the EU and the benefits of the RoDTEP scheme.

Americans Could Receive $3,000 Check: About 938 U.S. billionaires could fund a major relief plan. Under a new bill from Bernie Sanders and Ro Khanna, Americans could receive a $3,000 check through a 5% billionaire wealth tax. The proposal targets households earning $150,000 or less. A family of four could receive $12,000. Lawmakers estimate $4.4 trillion in revenue over 10 years. The bill aims to reduce wealth inequality while supporting healthcare, childcare, and housing programs.

Rahul Gandhi boldly proclaimed that Prime Minister Narendra Modi is psychologically out of the game, sharply critiquing the administration for its lack of gains from the interim trade deal with the US. He committed to initiating a caste census with the Congress party, ensuring representation for Dalits, Adivasis, backward classes, and minorities in the governance of India.

Cathie Wood Oil Price Forecast: Oil markets jumped nearly 50% during the Strait of Hormuz crisis, with WTI crude touching almost $120 before easing. Yet Cathie Wood warns the long-term outlook could flip. She says electric vehicles, autonomous mobility, and falling oil demand may push crude prices toward $50 per barrel in the next decade. Short-term war shocks lift prices. But technology could reshape global energy markets and trigger a deeper oil price decline.

IRS tax update 2026:Millions of Americans filing taxes will find the IRS's updated online withholding estimator crucial. Reflecting recent tax law changes, including new deductions and credits for workers and seniors, the tool helps adjust paycheck deductions. This aims to prevent unexpected tax bills and ensure taxpayers keep more of their earnings throughout the year.