The Economic Times

Amidst the Persian Gulf war, the UAE secretly navigated its oil exports through the Strait of Hormuz using 'dark' ship transits. Korean shipping tycoon Ga-Hyun Chung's Sinokor Group played a pivotal role, leasing a significant portion of vessels for these risky shuttle runs. This covert operation allowed the UAE to maintain pre-war export levels, capitalizing on surging oil prices and creating immense profits for Sinokor and its partners.

Prime Minister Narendra Modi embarked on a significant three-nation tour to Indonesia, Australia, and New Zealand, aiming to bolster India's Act East Policy and its vision for a free and open Indo-Pacific. The visits, scheduled from July 6-11, 2026, will focus on deepening strategic partnerships, enhancing trade, and strengthening people-to-people ties with each nation. Interactions with the Indian diaspora are also a key highlight of this diplomatic outreach.

A Boeing 747-8, gifted by Qatar, is now serving as a temporary Air Force One for President Trump. While awaiting new presidential aircraft, this jet, valued at $400 million and further modified with taxpayer funds, is expected to become a centerpiece at Trump's planned Miami presidential library. However, the donation has faced scrutiny over its ethics and the significant upgrade costs.

President Trump heads to Turkey to press NATO allies on defense spending pledges. He expects immediate action on the 5% GDP target, a key focus after last year's summit. Despite ongoing disputes, Trump seeks to solidify his influence on the alliance's future, while also planning meetings on Ukraine and Syria. This summit serves as a crucial test of commitment to increased defense contributions.

The US Department of Justice has strongly defended dropping bribery charges against Gautam Adani, citing weak evidence and jurisdictional issues. Senior Advocate Harish Salve suggested the case was a ame and shame tactic with a political agenda to pressure India. The DoJ's firm stance, emphasizing prosecutorial discretion and the case's Indian locus, leaves little room for the presiding judge to continue proceedings, with experts anticipating the case's closure.

Mumbai Rain Local Train Status: Mumbai's rail network faced significant disruption Monday as landslides in the Bhor Ghat section halted Mumbai-Pune long-distance services. While suburban locals on Central and Western Railway lines are running with minor delays, commuters are advised to check live status. Restoration efforts are underway, but no reopening timeline is confirmed. The IMD has issued an orange alert for Mumbai, with a red nowcast warning for intense rain and gusty winds.

Mumbai's flight operations are facing significant disruptions due to heavy rainfall and poor visibility. Major airlines like IndiGo, Akasa Air, SpiceJet, and Air India have issued travel advisories, urging passengers to check their flight status. Several flights were diverted over the weekend, and the impact is expected to persist as airlines work to normalize schedules. Commuters are advised to stay updated before heading to the airport.

This week's OTT lineup offers something for everyone. From Sunny Deol's courtroom thriller Ikka to Ram Charan's sports drama Peddi, and Shane Nigam's Balti. New releases also include I'm Not Afraid, Nothing to Lose, Trying Season 5, Parimala & Co., and the crime drama The Westies across Netflix, Apple TV+, ZEE5, SonyLIV and Prime Video. Read on!

India's auto sector recorded passenger vehicle sales growth of 28.63% in June. The overall automobile industry saw a 21.83% jump, driven by strong performances in tractors and two-wheelers. Rural areas outpaced urban centers in passenger vehicle growth. Notably, alternative fuel vehicles, including EVs, experienced a remarkable 40.35% increase.

Iran is holding a grand funeral procession in Tehran for its late Supreme Leader Ayatollah Ali Khamenei, whose coffin, along with those of family members lost in an airstrike, is being transported through the capital. The nation anticipates massive public turnout to demonstrate solidarity. Meanwhile, US-led negotiations concerning the Strait of Hormuz and Iran's nuclear program are reportedly paused until after Khamenei's burial in Mashhad.

Oberoi Realty has launched its luxury housing project in Gurugram, achieving gross bookings of Rs 8,109 crore. The project, known as 'Three Sixty North,' located on the prestigious Golf Course Extension Road, has experienced exceptional demand, with 832 units sold in its initial phase. This extraordinary performance highlights the brand's successful entry into the Delhi-NCR market, with projected revenues soaring to Rs 16,000 crore.

Tripura anticipates a massive Rs 1 lakh crore investment at the upcoming Destination Tripura Business Conclave-2026, commencing July 9. Union Minister Jyotiraditya Scindia will attend the event aimed at boosting employment and state income. Focus sectors include health, education, IT, and tourism. Last year's conclave saw Rs 30,000 crore in MoUs, with Rs 8,000 crore already initiated. Over 500 national and international delegates are expected.

France, Norway, and England have advanced to the FIFA World Cup 2026 quarter-finals after thrilling Round of 16 encounters. Kylian Mbappe's penalty secured France's win, while Erling Haaland's late brace stunned Brazil. England, despite a red card, triumphed over hosts Mexico in a dramatic five-goal contest. Today's fixtures include Portugal vs. Spain, USA vs. Belgium, and Argentina vs. Egypt.

Global interest rates are set to remain higher for longer, with Bloomberg Economics forecasting borrowing costs elevated by up to half a percentage point through 2028. This shift, influenced by lingering inflation risks from the Iran conflict's energy shock and the AI race, means consumers and businesses face more expensive loans. Central banks, wary of past inflation surges, are maintaining hawkish stances, impacting economies worldwide.

Entrepreneur Ankur Warikoo suggests five essential articles for those in their mid-twenties, a pivotal life stage. These readings, he believes, offer profound insights into making crucial decisions about careers, relationships, and finances. Warikoo emphasizes that these short, impactful pieces can reshape perspectives for a decade, urging readers to absorb their wisdom slowly and revisit them annually for lasting guidance.

Iran is currently in discussions with Japanese companies regarding the potential resumption of oil sales, backed by a U.S. sanctions waiver that expires on August 21. Purchasers are advocating for a longer waiver and enhanced protections for shipping, following troubling occurrences in the Strait of Hormuz. Initial conversations are taking place, yet obtaining insurance remains a critical issue for Japanese refineries.

A chartered accountant warns that home loan borrowers often overlook the total repayment, which can double the initial amount. He highlights that early EMIs heavily favour interest, delaying equity building. Instead of investing, aggressive prepayment is advised for guaranteed, tax-free returns. A strategy of lower EMIs with substantial prepayments, or annual extra payments, can save lakhs and significantly shorten loan terms, ultimately offering financial freedom.

Indian banks are significantly reducing their reliance on short-term debt sales, known as certificates of deposit (CDs). This shift is driven by the Reserve Bank of India's initiative to attract foreign-currency deposits, offering a cheaper and more stable funding alternative. Lenders anticipate this trend to continue, impacting CD rates and strengthening their balance sheets with more durable capital.

Heavy rains have crippled transport between Mumbai and Pune. Central Railway has suspended train services due to landslides and track damage in the Bhor Ghat section. The Mumbai-Pune Expressway and old highway are also closed to traffic following landslides. Authorities urge commuters to postpone non-essential travel as restoration efforts are underway. Suburban train services in Mumbai remain largely unaffected.

Pati Patni Aur Woh Do, the romantic comedy that received a mixed reception from audiences, is set for its digital debut. The film, a spiritual sequel to the 2019 hit, stars Ayushmann Khurrana as Prajapati Pandey, whose life unravels due to a series of misunderstandings involving his wife, a friend, and a colleague. Read on to know when and where to watch the movie on OTT.

Mumbai rains today: Heavy rains have caused significant disruptions to Mumbai-Pune train services, with landslides in the Karjat-Lonavala Bhor Ghat section halting operations early Monday. Multiple railway lines were affected, leading to the cancellation, diversion, and regulation of numerous long-distance trains. Restoration efforts are underway, and passengers are urged to verify train status and utilize helplines for updates.

OPEC+ has boosted oil production quotas for the fifth consecutive month, raising questions about shipping capacity and buyer demand. While Middle East exports are recovering post-conflict, they remain below pre-war levels. The market anticipates a return to oversupply, contingent on stable shipping routes and China's re-entry into the market, which is expected as prices potentially fall.

Prime Minister Modi's Australia visit is set to feature a significant uranium supply pact, bolstering India's nuclear power ambitions. Discussions will also cover critical minerals, cybersecurity, and clean energy. This follows a decade-old framework and aims to deepen economic ties, building on the landmark ECTA trade agreement which has already boosted bilateral trade to $54.4 billion.

After a two-month break, Sumona Chakravarti recently revealed she underwent surgery for endometriosis after years of battling the condition. The actor said the experience changed her outlook on life and social media. She now hopes to create a space for meaningful conversations on health, wellness, independence and other important life topics. Read on!

Welcome to TrendMap, your guide to the performance of different investment segments. In this edition, we present a 10-year performance tracker of various factor-based investment strategies. The annual returns are ranked for 6 key NSE Factor indices, with a broad-based index, Nifty 500, thrown in for comparison. This map shows that no single-factor strategy consistently outperforms, making a strong case for diversification. By Sameer Bhardwaj.

If you are confused by personal finance terms, jargon and calculations, heres a series to simplify and deconstruct these for you. In the 110th part of this series, Riju Mehta lists the legal certificates that are crucial for home ownership.

An investment must first stand up as an investment, and be a tax-saver only by accident. However, this problem has now solved itself. The new tax regime, now the default and chosen by close to three in four taxpayers, has done away with such deductions. Where there is no Section 80C to chase, there is no reason to go shopping for the bad product in March.

Strong revenue growth, rising data demand and a landmark Jio IPO signal a favourable sector outlook.

In the United States, those graduating in the 21st century especially have been seeking to return to the homes of their boomer parents. In India, in contrast, living with parents has remained a default option for young adults until they get married or move to another city for a joban arrangement that isendorsed by tradition.

Foreign universities are now opening campuses in India, offering Indian students a chance to earn international degrees without leaving the country. This influx is driven by India's large student market and policy changes. While offering a more affordable global education, these campuses present fewer course options and facilities compared to their parent institutions abroad.

With tech employees holding up to 80% of their net worth in a single stock, advisers say not selling is a real danger.

Miscounted days in India, missed NRO interest and TDS mismatches can invite notices from a data-savvy tax department.

Many Indians stretch finances for dream homes, but hefty home loans lead to years of uncomfortable choices. Borrowers face lifestyle compression, career stagnation, and deferred savings, impacting family life and personal well-being. Experts urge homebuyers to prioritize true affordability over aspirations, stressing that a loan should enhance life, not dictate it, by considering future uncertainties and maintaining financial flexibility.

Norway secured a stunning 2-1 World Cup victory over Brazil, largely thanks to the heroics of out-of-contract goalkeeper Orjan Nyland. A FIFA eligibility ruling unexpectedly placed Nyland in the starting lineup, where he made a crucial penalty save and numerous other stops. Despite a late Neymar penalty, Nyland's performance secured Norway's place in the quarter-finals.

Telecom regulator Trai is seeking powers under the IT Act to act against call management apps like Truecaller. These platforms are reportedly tagging and blocking legitimate commercial communication numbers (1400 and 1600) as spam, hindering government initiatives and legitimate businesses. Trai aims to be designated an 'authorised agency' to enforce compliance, with the IT ministry reportedly agreeing to the demand.

Psychology says people who carefully open a gift and keep the wrapper for future use aren't simply trying to save paper. Psychology links this behavior to planning, resource management, emotional attachment, and mindful decision-making. Studies suggest that small daily habits can reflect larger thinking patterns. This explainer looks at the psychology behind preserving gift wrapping, the theories connected to it, research findings, and the life lessons people can learn from this habit.

The quote of the day comes from Keanu Reeves, whose life has been shaped by both remarkable success and heartbreaking personal loss, giving added depth to one of his most memorable reflections on life and mortality. His thoughtful words resonate with people because they highlight the importance of love, remembrance and the bonds people leave behind. Alongside the meaning behind the quote, his journey from humble beginnings to becoming one of Hollywood's most respected actors reflects a life mark

Proverb of the day: The saying, An army of sheep led by a lion would defeat an army of lions led by a sheep, explains why leadership is often more important than individual strength. The proverb highlights strategy, courage, morale, and direction. Though commonly linked to Alexander the Great, its exact origin remains uncertain. The message continues to guide people in workplaces, education, sports, business, and daily life.

Leading TV distributors like Tata Play and Airtel Digital TV are pushing for lower content fees from broadcasters. Facing subscriber losses and escalating channel prices, these platforms find current deals unsustainable. While some broadcasters are offering discounts, major players with strong channel portfolios are expected to resist demands for a 5-7% reduction, as the pay-TV market continues to shrink.

NCLT has cleared the Bhutani Group's acquisition of Entertainment City, which includes The Great India Place and Worlds of Wonder. The group plans a Rs 10,000 crore investment to transform the Noida site into a major entertainment hub. This NCLT order resolves a long-standing dispute, allowing Bhutani Infra to proceed with developing the 147-acre project, which also features vacant land for future expansion.

West Asian tourism destinations like the UAE, Saudi Arabia, and Oman are banking on India to revive their sector post-conflict. These nations are rolling out attractive travel deals and boosting flight capacity, with India showing resilient demand. Ras Al Khaimah, for instance, aims for 3.5 million visitors by 2030, with India as a key driver, already seeing significant growth.

India is set to host the BRICS Anti-Drug Agencies Meeting in Guwahati from July 6-7. This crucial gathering aims to bolster intelligence sharing and operational cooperation among member nations to combat the evolving landscape of drug trafficking, including synthetic drugs and darknet-enabled operations. The meeting will focus on practical strategies for interdiction, capacity building, and collective responses to emerging threats, marking a shift towards action-oriented collaboration.

Baskin Robbins' operator Graviss Group is reportedly in talks to acquire the India rights for Dunkin' Donuts from its global parent, Inspire Brands. This comes after Jubilant FoodWorks decided to exit its 15-year franchise deal due to mounting losses. If the deal materializes, Graviss is expected to revamp Dunkin's business in India, potentially introducing more localized offerings and a broader menu to revive the struggling donut-and-coffee concept.

India and Russia are targeting $50 billion in mutual investments by 2030, focusing on joint ventures in advanced manufacturing, critical minerals, and green technology. A recent meeting in Moscow saw both nations agreeing to encourage private sector exploration and collaboration. India highlighted its cost-effective skilled workforce and investment-friendly reforms, while the Making in Russia for India model was also promoted to boost bilateral industrial ties.

Dilip Asbe, CEO of NPCI, has joined Swift's global supervisory board, a significant step for India's payment ambitions. This appointment, pending regulatory approval, grants India a voice in global payment standards, recognizing the success of UPI. Asbe's leadership has been pivotal in developing India's advanced payment systems, positioning the nation as a key influencer in shaping future cross-border financial infrastructure.