The Economic Times

Trinamool Congress offices faced arson and vandalism across West Bengal on Monday. BJP workers celebrated their victory, while TMC accused BJP of violence. Incidents were reported in Kolkata, Howrah, and other districts. TMC condemned the attacks, calling them gutter politics. BJP denied involvement, suggesting internal TMC conflict. Reports indicate assaults on TMC candidates and party agents.

Kazakhstan's President Kassym-Jomart Tokayev urged a swift transition to an AI-powered economy. He stressed that delaying this shift risks the nation falling behind globally. Traditional growth models are losing effectiveness. The country needs a unified digital transformation and a real-time economy for faster decision-making. Private sector involvement and a robust venture ecosystem are crucial.

President Trump's influence is on trial in Indiana's Republican primaries. Seven state senators face Trump-backed challengers. Ohio's primaries will decide candidates for major U.S. Senate and governor races. Michigan voters will fill a state Senate vacancy in a bellwether district. These contests will reveal the strength of Trump's hold on the Republican Party.

Popular Malayalam actor Santhosh Nair passed away in a road accident in Pathanamthitta. His car collided with a lorry, and he reportedly suffered a heart attack during treatment. Nair, who began his acting career in 1982, featured in over 100 films, portraying diverse roles. He spent his early years with his maternal grandparents.

Vijay Thalapathy Election Result: Tamilaga Vettri Kazhagam (TVK) secured 108 seats in Tamil Nadu, falling just short of a majority. This electoral success is attributed to a long-term organizational strategy by actor-turned-politician Vijay, which involved converting fan networks into welfare groups, testing electoral waters through independent candidates, building a disciplined cadre, and leveraging a distinct campaign symbol and established volunteer networks for effective mobilization.

The Bharatiya Janata Party achieved a significant victory in the West Bengal Assembly elections. Dilip Ghosh won the Kharagpur Sadar seat. This win marks a major milestone for the BJP in the state. The party secured a substantial number of seats, surpassing previous performances. The Trinamool Congress finished second. The election results indicate a shifting political landscape in West Bengal.

The United States and Gulf Arab nations are preparing a United Nations Security Council resolution. This resolution aims to condemn Iran for obstructing the Strait of Hormuz. It follows a previous resolution blocked by Russia and China. The new draft focuses on Iran's mining of waterways and attempts to impose tolls.

A crucial road project is underway in Rajouri's Doongi block. This 13-kilometer road will connect remote border panchayats and link three key blocks. Residents anticipate reduced travel times and improved access to essential services. The initiative is expected to boost local development and livelihoods. This project fulfills a long-standing demand for better infrastructure in the region.

Iran's state media claims US forces attacked civilian cargo boats in the Strait of Hormuz, resulting in five deaths, contradicting Washington's assertion that the vessels were Iranian military boats threatening commercial shipping. The incident occurred during a US mission to secure maritime corridors and ensure freedom of navigation.

US CENTCOM used Sea Hawk and Apache helicopters on Monday to eliminate Iranian small boats threatening commercial shipping in the Strait of Hormuz. As part of Project Freedom, over 100 aircraft from land bases and two carriers are currently working to reopen the waterway and escort commercial vessels.

Global economy faces a grim future if the Middle East conflict continues until 2027. IMF chief Kristalina Georgieva warns of significantly higher inflation and a much worse outcome. Oil prices could reach $125 per barrel, impacting growth and de-anchoring inflation expectations. Physical oil shortages are also a concern.

The United States said it reopened a shipping lane in the Strait of Hormuz after engaging Iranian forces, sinking six boats that were targeting civilian vessels. Two US-flagged merchant ships passed through safely under the new security operation.

Iran's nuclear weapon timeline remains unchanged. U.S. intelligence assessments show it still takes up to a year to build a bomb. Recent U.S. and Israeli attacks targeted conventional military sites. Iran's nuclear facilities were hit, but key material remains. The U.S. aims to prevent Iran from obtaining nuclear weapons through ongoing negotiations.

Tensions flare in the Middle East as Iran denies responsibility for a drone strike on UAE oil facilities. Iran blames US military actions for the incident. Iran's navy fired warning shots at US warships in the Strait of Hormuz. US forces claim to have destroyed Iranian military boats. The situation marks a dangerous escalation amid a Middle East war ceasefire.

Mamata Banerjee faced a significant defeat in the Bhabanipur constituency, losing by over 15,000 votes. This outcome mirrors the Nandigram battle. Factors contributing to the loss included voter alienation, corruption allegations, and job scams. The Election Commission's measures ensured fair polls, allowing voters to participate freely. These developments impacted the Trinamool Congress's performance.

The Bharatiya Janata Party has secured a decisive victory in Assam, forming the government for a third consecutive term. The party achieved a majority on its own for the first time. The National Democratic Alliance, including partners Asom Gana Parishad and Bodoland People's Front, secured a significant number of seats. The Congress party saw a reduction in its tally.

The Bharatiya Janata Party's win in West Bengal signifies a major political achievement. This victory completes the party's expansion into eastern and northeastern India. It establishes the BJP as a pan-India force. The win provides the leadership confidence for future reforms and strengthens its position within the NDA coalition.

The Gorkha community is hopeful for a permanent political solution to their Gorkhaland demand after the BJP's victory. This issue was key to BJP's rise in West Bengal in 2009. The community, a long-time BJP supporter, recalls promises of a solution within six months of government formation. They are looking at a model like the Bodoland Territorial Council.

Petrol, Diesel Prices Today: Fuel prices remained unchanged across major Indian cities on Tuesday, May 5, despite a global oil price surge. Government sources indicate a potential hike of up to Rs 5 per litre for petrol and diesel soon, as retailers aim to recover losses. Domestic LPG cylinder prices are also expected to rise.

US Secret Service agents shot an armed man in downtown Washington on Monday. The incident occurred near the National Mall shortly after Vice President JD Vance's motorcade passed. Agents identified a suspicious individual with a firearm. The man fled, drew his weapon, and fired at agents who returned fire, wounding him. A juvenile bystander was also slightly injured.

Medics are working to evacuate two individuals with hantavirus symptoms from a luxury cruise ship off West Africa after an outbreak claimed three lives. The Dutch-flagged MV Hondius, carrying mostly British, American, and Spanish passengers, has been denied docking as a precaution.

U.S. stocks fell from their record heights, while oil prices jumped following escalations in the Middle East that may undermine the ceasefire in the war with Iran.

US President Donald Trump has intensified warnings against Iran, stating that the United States can't let Iran have a nuclear weapon and threatening severe retaliation if US assets are targeted under Project Freedom.

A large number of assembly seats in West Bengal have reported that electors marked ineligible under the Special Intensive Revision (SIR), along with those still under adjudication, exceed the final victory margins.

Union Home Minister Amit Shah and Prime Minister Narendra Modi thanked Tamil Nadu voters for supporting the BJP and NDA. They reaffirmed the central government's commitment to the state's development. Actor-turned-politician Vijay's party, TVK, made a significant debut, winning many seats. This marks a potential shift in Tamil Nadu's political landscape.

A South Korean ship experienced an explosion and fire in the Strait of Hormuz. U.S. President Trump stated Iran was responsible for the attack. No casualties were reported. Authorities are investigating the cause of the blaze. The incident occurred as the U.S. initiated an operation to secure shipping lanes. South Korea is reviewing intelligence and considering its response.

Prime Minister Narendra Modi hailed the BJP's West Bengal election win. He stated the victory signifies a vote for stability and development amidst global economic challenges. Modi urged an end to violence and vendetta in the state. He assured the new government will work for public aspirations and act against illegal immigrants.

Met Gala 2026: Outside the museum, protesters in colorful outfits held letters spelling out ax the rich and banners reading esistance red carpet and eat the rich.

India has a brand new political map. A massive topple in Bengal, a twist in the Tamil Nadu potboiler, power grip in Assam and Puducherry, and anti-incumbency in Kerala this crucial round of Assembly elections sees BJP tighten dominance across the country, with a very special appearance by Vijays TVK.

Blake Lively-Justin Baldoni settlement ends more than a year of acrimonious litigation that drew intense publicity as details of Lively's allegations and Baldoni's counterclaims trickled out in court filings.

FIFA has concluded agreements with broadcasters in over 175 territories globally, it said in a statement to Reuters.

Actor Vijay's new political party, Tamilaga Vettri Kazhagam, has achieved a stunning victory in Tamil Nadu. The party has become the largest in the state, unseating the incumbent DMK government. MK Stalin has lost his chief minister position. This marks a significant political shift, with Vijay becoming an overnight sensation.

Donald Trump had positioned himself as a champion of unfettered AI development, rolling back Biden-era safety evaluation requirements and casting regulation as a threat to US competitiveness with China.

Layoff resignation timing story: A worker proactively prepared for potential layoffs during a company restructuring by applying for new roles and optimizing his job search with AI tools. This foresight led to a senior position offer with a 30% salary increase, just before his company announced layoffs, resulting in a fortunate transition with severance and a new job lined up.

Quote of the Day: Helen Keller's life, marked by blindness and deafness from infancy, became a testament to resilience. Her journey, guided by Anne Sullivan, led to groundbreaking achievements in education and communication. Keller's powerful quote, Although the world is full of suffering, it is full also of the overcoming of it, reflects her profound personal experience and enduring message of hope.

US interest rates are still high and causing problems for home buyers. Donald Trump criticized Fed Chair Jerome Powell over this issue. Mortgage rates are above 6.5% and changing often. Inflation, global conflict, and economic slowdown are key reasons. Even without a Federal Reserve meeting, rates can move. People planning to buy homes are waiting and watching closely.

Will UAE fight back Iran? The United States moved to reopen the Strait of Hormuz after Iran launched missile and drone attacks on the UAE and commercial ships. The conflict has raised oil prices, disrupted shipping, and increased global economic pressure. Military operations, sanctions, and naval blockades are now shaping the next phase of the crisis.

The United Democratic Front has achieved a historic win in Kerala, defeating the Left Democratic Front. This marks a significant setback for the Communist party, leaving them without any government in India. The Congress now governs four states, showcasing its Kerala unit's strength. The election also saw the incumbent government voted out, a return to Kerala's political trend.

The dispute adds to tensions over a long-delayed transatlantic trade pact. The two sides reached an initial agreement last July, but EU lawmakers have yet to ratify it as they seek amendments. Trump said Friday the bloc had failed to fully comply with the deal.

Indian pharmaceutical exports reached over $31 billion in FY26. March saw a significant 23% drop, primarily due to a slowdown in the United States and China. However, other markets like Africa and Oceania showed strong growth. Vaccines emerged as the fastest-growing export category. The industry is navigating challenges in key markets while exploring new growth avenues.

Several prominent charitable organizations in Mumbai are facing the cancellation of their tax registrations. The tax department cites commercial activities as the reason for rejecting renewals. The Reliance charitable trust is challenging this decision. Other organizations like PD Hinduja Hospital and ISKCON are also in the process of appealing. This situation impacts tax relief for these trusts and donor deductions.

The dominant National Democratic Alliance constituent at the Centre has registered its maiden victory in West Bengal, retained Assam and Puducherry (with alliance partners) and won a record three seats in Kerala. It won only one seat in Tamil Nadu, against four in 2021.

The AINRC-led NDA is poised to form the government in Puducherry. Chief Minister N Rangasamy secured victory in the Thattanchavady constituency. Election Commission figures show AINRC leading in multiple seats. The alliance requires 16 seats for a majority in the 30-member assembly. Rangasamy's win marks a significant step towards his second consecutive term as chief minister.

The UAE has exited OPEC and OPEC+ stating it is a sovereign decision. This comes after an ADNOC tanker was hit by Iranian drones in the Strait of Hormuz. The UAE called it a terrorist attack. Officials emphasized the Strait of Hormuz must remain open for global economic stability.

The TVK party has become the largest in Tamil Nadu, leading in over 100 constituencies. Plans are now in motion to form the government. Candidates are being called to the party office. Discussions with potential allies like the Congress are expected. The DMK has accepted the election results. This marks a significant shift in Tamil Nadu's political landscape.

Vijay-led TVK has emerged as the single largest party in Tamil Nadu, disrupting the long-standing dominance of Dravidian parties. The actor-turned-politician's party is leading in 107 constituencies, surpassing the majority mark needed to form the government. This electoral debut saw significant gains across northern, central, and southern districts, including a major upset with CM MK Stalin losing his seat.

RBI cautioned such campaigns can mislead borrowers into believing their obligations can be written off outside formal processes, which could affect repayment behaviour and weaken credit discipline. Such campaigns not only mislead the general public but also interfere with the orderly functioning of the credit system of the country, it said.

Tensions in the Gulf are escalating rapidly, with a UAE official warning of a potential US or Israeli strike on Iran within 24 hours. Recent missile attacks, naval clashes in the Strait of Hormuz, and heightened military activity suggest a major confrontation may be imminent, impacting global markets and oil prices.