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The Economic Times

Economy / The Economic Times

India, South Korea to jointly develop laser weapons, air defence systems

India and South Korea are set to collaborate on advanced defence technologies. Plans include joint development and production of next-generation weapon systems. This partnership aims to leverage Korea's technological prowess and India's manufacturing capabilities. Discussions focused on areas like maritime security and emerging technologies. Agreements were signed for directed energy weapons and self-propelled air defence systems.

20 May 2026 11:59 pm
KG Basin case: Supreme Court refuses to pause hearing for 'mediation'

The three companies wanted a bench comprising Chief Justice Surya Kant and Justices Joymalya Bagchi and Vipul M Pancholi to stop the hearing in the case till the mediation is over as they wanted attempt mediation for deciding the case.

20 May 2026 11:57 pm
Rahul targets PM, Shah; BJP chief says 'it is insult to people'

Rahul Gandhi labelled Prime Minister Modi and Home Minister Shah as raitors for allegedly attacking the Constitution and handing over national assets to industrialists. Addressing a party meeting in Amethi, he refused to apologize for his remarks, which the BJP condemned as an insult to the nation and reflective of his frustration over electoral losses.

20 May 2026 11:54 pm
Where there's a will, there are funds to deal with urban challenges

Projects worth 15,000 crore across six states are being awarded to kick-start the Centre's 1 lakh crore Urban Challenge Fund. These initiatives include water supply for villages, lake cleaning, and traffic congestion solutions. The funding model involves a 25% contribution from the Centre and states, with the remaining 50% sourced from municipal bonds, bank loans, and PPPs.

20 May 2026 11:51 pm
Psychology says women often feel the need to control everything at home and it is not OCD but generational mental load

The psychology behind women wanting things done a certain way often points to a deeper link between stress, mental load, anxiety and social expectations. While true Obsessive-compulsive disorder requires professional diagnosis, many everyday control behaviors are more closely connected to emotional overwhelm than to personality flaws.

20 May 2026 11:47 pm
India, Italy look to expand trade, defence ties amid Persian headwinds

India and Italy have elevated their relationship to a Special Strategic Partnership. Prime Minister Narendra Modi and Italian Prime Minister Giorgia Meloni announced this major step. The two nations will hold annual meetings and boost defense and maritime security cooperation. Trade targets are set to increase significantly. Both countries are committed to combating terrorism and resolving global issues through dialogue.

20 May 2026 11:45 pm
Assam cabinet approves notification and implementation of Assam State Data Policy (ASDP) 2026

The Assam cabinet has approved the Assam State Data Policy 2026. This new policy replaces the 2022 version. A Centre for Data Management will be established. This agency will create a unified data repository for analytics and AI. Departments will systematically share data. This aims to drive innovation for departments and citizens.

20 May 2026 11:43 pm
OpenAI IPO filing could come before SpaceX goes public: Will Sam Altman beat Elon Musk and Anthropic in the biggest AI and space market race of 2026? Complete details on Wall Streets largest IPO wave

OpenAI IPO: Wall Street is entering its biggest IPO wave since 2022. OpenAI, SpaceX, Anthropic, Shein, and Kunlunxin could together raise nearly $200 billion. OpenAI may file for its IPO before SpaceX goes public. That changes the entire AI market race. Investors are now watching Sam Altman, Elon Musk, and Anthropic more closely than ever. These mega IPOs could reshape Nvidia, Microsoft, Nasdaq, AI stocks, tech valuations, and global markets. The battle is no longer only about innovation. It is

20 May 2026 11:36 pm
Former Cuban President Raul Castro charged with murder in US

Former Cuban President Raul Castro faces murder charges in the United States. This indictment stems from a 1996 incident where Cuban jets shot down exile planes. The US is increasing pressure on Cuba's government. A ceremony in Miami honors victims of the 1996 event. US Secretary of State Marco Rubio offers aid to Cuba.

20 May 2026 11:31 pm
Quote of the day by Martin Luther King Jr.: 'The function of education is to teach one to think intensively and to...' - inspiring lessons on education, critical thinking and why character matters more than grades by the Baptist minister and activist

Quote of the day by Martin Luther King Jr.: He emphasized that true education cultivates both intensive and critical thinking, alongside strong character. This dual focus is crucial in today's information-saturated world, where intelligence must be paired with honesty and empathy to foster a just society and prevent social harm.

20 May 2026 11:17 pm
Cloudnine to acquire Apollos maternity chain Cradle

Cloudnine Hospitals is set to acquire Apollo Cradle and Apollo Fertility. This strategic move will create India's largest maternity and children's healthcare network. Apollo Health and Lifestyle Limited will hold a significant stake in the combined entity. The deal aims to enhance specialized healthcare access across India.

20 May 2026 11:10 pm
CBI books former Navy captain in disproportionate assets case

The CBI has filed an FIR against a former Indian Navy captain for allegedly amassing disproportionate assets exceeding Rs 3 crore. During his service, including sensitive postings, the officer and his family's assets reportedly grew significantly between 2010 and 2020. The agency alleges a substantial portion of these assets cannot be explained by known income sources.

20 May 2026 10:52 pm
GRSE launches first next-gen offshore patrol vessel for Indian Navy

Defence PSU GRSE launched Sanghamitra, the first of four next-generation offshore patrol vessels for the Indian Navy. The vessel is larger and more capable than conventional patrol vessels. It features enhanced endurance and firepower. The ship can operate in coastal waters for asset protection and interdiction operations. It will also undertake surveillance and mine warfare missions.

20 May 2026 10:46 pm
Iran's threat to Hormuz submarine cables

Iran's Revolutionary Guard Corps has threatened to impose permits on submarine fiber-optic cables passing through the Strait of Hormuz. This move could disrupt global data flow, impacting financial transactions and government communications. While some countries have alternative routes, Qatar, hosting a key cable terminal, faces significant impact. Repairing damaged cables could become challenging due to potential Iranian interference.

20 May 2026 10:43 pm
Tripura moves to build Northeast AVGC-XR hub

Tripura convened a stakeholder consultation for its draft AVGC-XR Policy, aiming to foster creativity, innovation, and digital employment. Senior officials and industry experts discussed talent development, entrepreneurship, and content creation. The policy seeks to position Tripura as an AVGC-XR hub, synergizing with existing state initiatives for economic growth.

20 May 2026 10:28 pm
Employee planned vacation 6 months earlier, HR rejected it later. He then teaches them a lesson about office rules

A Reddit post about an employees denied vacation request has triggered debate online after the worker claimed the leave had effectively been approved months earlier under company policy. The employee said HR never responded within the stated approval window but later rejected the trip after new management took over. Despite being told they had exceeded their PTO limit, the worker decided to go ahead with the vacation, arguing the company was applying policies unfairly and contributing to severe

20 May 2026 10:14 pm
CCI approves stake purchase in Burger King India operator by Lenexis consortium

The Competition Commission of India has given its approval for a partial ownership acquisition in Restaurant Brands Asia Limited. This deal involves a consortium led by Lenexis Foodworks Private Limited. The acquisition will occur through various steps including equity and warrant subscriptions, and an open offer. Restaurant Brands Asia operates Burger King outlets across India.

20 May 2026 9:52 pm
SpaceX Starship V3 launch set this week: How to watch next-gen mega rocket test

SpaceX is getting ready to launch Starship Version 3, the next-generation spacecraft designed for Moon and Mars missions under NASAs Artemis program. The test flight marks the first significant launch of 2026 and introduces a redesigned rocket with increased size, thrust, and upgraded Raptor engines. The mission will analyze booster recovery systems, heat shield performance, and satellite deployment capabilities. It comes amid delays in development and growing expectations for future crewed luna

20 May 2026 9:52 pm
Xi plays a masterful hand amid Trumps chaos and Putins decline

Chinese leader Xi Jinping and Russian President Vladimir Putin met in China, projecting unity against US dominance. They signed agreements and criticized US defense policies. However, Russia's economic dependence on China is evident, while China carefully manages its global interests. This summit highlights China's strategic balancing act between the US and Russia.

20 May 2026 9:47 pm
US Treasury yields reach highest levels since 2007 here's how it will change the way Americans borrow, spend and invest

High Treasury yields' impact on consumer finances: Treasury yields are reaching multiyear highs, impacting borrowing costs, investments, and consumer confidence. This rise, driven by inflation fears and geopolitical concerns, means higher mortgage rates and increased government debt expenses.

20 May 2026 9:45 pm
No Ebola case in India yet, centre reviews preparedness after WHO declares global health emergency

India's Health Ministry held a high-level meeting to assess preparedness for Ebola Virus Disease following a WHO declaration. Officials confirmed no cases in India and urged calm, emphasizing the nation's vigilance and readiness. States have been directed to ensure readiness at all levels, with SOPs circulated for screening, quarantine, and case management.

20 May 2026 9:45 pm
Quote of the day by German-born painter Hans Hofmann: The ability to simplify means to eliminate the unnecessary so Timeless warning about noise, stress and distraction is suddenly going viral among fans of minimalism and modern creativity

Quote of the day: Great quotes endure because they express complex human experiences in just a few memorable words. Hans Hofmanns statement continues to resonate online because it speaks to something timeless: the search for clarity in an increasingly chaotic world.

20 May 2026 9:39 pm
African Proverb of the Day: A womans strength is Life lessons on communication, social connection, perception and why your voice has power

African Proverb of the Day highlights the meaning of A womans strength is a multitude of words. The saying reflects how communication, expression, and spoken wisdom are often seen as powerful tools through which a woman influences her family and community. It suggests that words carry emotional strength, guidance, and authority, shaping relationships, resolving conflicts, and passing on knowledge.

20 May 2026 9:29 pm
BHIM Payments App sees 300% growth in FY26 driven by cashbacks and user trust

BHIM Payments App saw a significant 300% growth in FY26. Monthly transactions surged to 21.6 crore in March 2026. Cashback offers are a key growth driver. The app aims to expand to feature phones. NBSL is partnering with banks to embed BHIM technology into their mobile applications. This move will deepen the digital payment ecosystem across India.

20 May 2026 9:22 pm
Adani, Reliance, Lodha, JSW bid for 206-acre Mumbai redevelopment projects

Leading real estate firms are vying to redevelop three large housing colonies in Mumbai. These projects span prime areas like Worli, Bandra Reclamation, and Andheri West. The Maharashtra Housing and Area Development Authority is overseeing the process. This initiative aims to upgrade living standards for residents in older colonies. It promises modern housing and improved urban infrastructure for thousands.

20 May 2026 9:15 pm
Sudden layoff, no severance package, EMIs on Rs 2 crore home loan, panic attacks. Delhi man shares what he learnt after a tough struggle

Delhi-based entrepreneur Gaurav Kawatra has gone viral after sharing how he lost his Rs 5 lakh-a-month corporate job in 2018 while managing a Rs 2 crore home loan. In a LinkedIn post, he recalled receiving only a three-day notice period with no severance package, followed by months of panic attacks, rejection and financial stress.

20 May 2026 9:11 pm
Parishram hi safalta ki kunji hai: Italian PM Meloni flaunts Hindi to highlight India-Italy ties

Italian Prime Minister Giorgia Meloni praised the deepening India-Italy relationship during Prime Minister Narendra Modi's visit. The two nations have elevated their ties to a Special Strategic Partnership. Discussions focused on boosting bilateral trade to 20 billion euros by 2029 and expanding cooperation in technology and defense. The visit marks a significant milestone in bilateral engagement.

20 May 2026 9:05 pm
Anti-encroachment drive in Mumbai's Bandra slum turns violent; locals hurl stones, police lathi-charge

A demolition drive in Mumbai's Bandra slum turned violent. Authorities razed an illegal religious structure. Local residents protested, leading to clashes with police. Stone-pelting occurred, injuring a police constable. Several people were detained. The operation aims to clear encroached railway land near Bandra railway station.

20 May 2026 9:03 pm
African proverb of the day: 'He who runs after good fortune runs away from...' - thought-provoking life lessons on the dark side of chasing wealth and ambition and why more money doesn't always mean more happiness and peace

African proverb of the day: Many chase success, but this can lead to losing peace. Modern life pressures people to achieve more, often at the cost of well-being. Traditional wisdom reminds us that inner peace and contentment are vital. This proverb highlights the importance of balance and appreciating the present moment. True fulfillment comes from within, not just material gains.

20 May 2026 9:01 pm
Manav Shah makes history for IGPL by qualifying for US Open

Manav Shah has made history by qualifying for the 2026 US Open. He is the first player from the IGPL to achieve this milestone. Shah secured his spot at the demanding final qualifying event in Dallas. This achievement marks a significant moment for Indian-origin golfers globally. Shah's journey includes previous victories and consistent performances on various tours.

20 May 2026 9:01 pm
Congress to have 2 ministers in Tamil Nadu, to join Tamil Nadu cabinet after 59 yrs

The Congress party is set to join the Tamil Nadu cabinet after a 59-year hiatus. Two Congress MLAs, Rajesh Kumar and P Viswanathan, will be sworn in as ministers on Thursday. This marks a significant return for the party to the state government.

20 May 2026 8:58 pm
Charlie Kirk post controversy: Tennessee man bags $835,000 settlement after he was sent jail Facebook post

Many people across the U.S. lost their jobs over social media comments about Kirks death, Larry Busharts case stood out as a rare instance in which such online speech led to criminal prosecution.

20 May 2026 8:58 pm
Private, govt banks pledge full support to ECLGS 5.0

Banks are fully supporting the new Emergency Credit Line Guarantee Scheme 5.0. This scheme aims to help businesses facing challenges due to the West Asia conflict. Government officials highlighted its importance for MSMEs in Maharashtra. The scheme provides working capital support. A digital portal simplifies loan applications. This initiative will accelerate credit delivery to eligible businesses.

20 May 2026 8:40 pm
Streaming platforms double down on South Indian hits

South Indian cinema is increasingly dominating the streaming landscape, accounting for nearly 60% of theatrically successful films acquired by platforms in 2025. Stronger viewer engagement, evidenced by high completion rates, drives this trend, with regional content offering consistent value and a dependable acquisition ecosystem for streamers.

20 May 2026 8:37 pm
Timeless poetry of the day by Charles Bukowski: 'Some people never go crazy. What truly horrible lives they must lead...'

Charles Bukowskis writing continues to resonate because of how honestly he explored loneliness, emotional exhaustion and the struggles of ordinary life. In The Crunch, his famous line reflects the sadness of living without emotional vulnerability or passion rather than glorifying chaos. Shaped by a difficult childhood, years of poverty and rejection, Bukowski built a literary voice that felt raw and deeply personal, which is why readers still connect with his work.

20 May 2026 8:19 pm
Kumaraswamy chairs consultation meeting to speed up adoption of e-buses & e-trucks

Union Minister HD Kumaraswamy convened a high-level consultation in New Delhi to accelerate the adoption of electric buses and trucks nationwide. The meeting, involving fleet operators, financial institutions, and industry representatives, aimed to understand operational realities and strengthen government-industry collaboration for a sustainable clean mobility transition.

20 May 2026 8:13 pm
'Sweetening relationships since 1983': Parle reacts to Modi gifting Melody to Meloni

Prime Minister Narendra Modi gifted Melody toffees to Italian Prime Minister Giorgia Meloni. This gesture sparked a viral Melodi meme online. Parle Products shared the moment on social media. The company anticipates increased domestic and international sales following this global exposure. The act promoted Indian products on an international platform.

20 May 2026 8:10 pm