The Economic Times

An Air India flight experienced a rare hydraulic control loss, injuring 24 passengers. The aircraft's flight data recorders showed a sudden pressure drop across all systems. This incident caused the elevators and ailerons to briefly stop responding to pilot commands. While the captain is under scrutiny, initial data suggests no human error caused the event. Investigators are examining a hydraulic pressure switch to determine the exact cause.

Over the years, the economy has evolved dramaticallyfrom rising incomes and a larger global footprint to deeper integration with the world economy and a shift towards services. India has come a long way, but significant challenges remain. Anoushka Sawhney takes a look.

Quick commerce firms are engaging with manufacturers to boost sales of large appliances. Established e-commerce players are also striving for quicker delivery options. Some businesses are considering models that utilize manufacturer warehouses alongside retail locations. This strategic move is intended to elevate average order values and enhance profit margins, reflecting the evolving consumer demand for speedy delivery across various categories.

India has reduced windfall taxes on petrol, diesel, and aviation fuel exports. The duty on diesel exports is now 24 rupees per litre, while petrol duty is zero. Aviation turbine fuel exports will now face a 19.5 rupee per litre tax. These levies were first imposed in July 2022 and reintroduced in March 2026. India revises these export taxes every fortnight based on global oil prices.

The PM Internship Scheme is designed to bridge the gap between industry requirements and the skill sets of job seekers. Recognizing a significant shortfall in skilled labor nationwide, senior industry leaders emphasized the need for enhanced workforce readiness. Thus, the government upgraded the scheme, raising stipends to 9,000 and lowering the eligibility age to eighteen. Now, final-year undergraduates can participate in this initiative from the corporate affairs ministry.

In July, India's wholesale inflation decreased marginally to 9.8 percent, aided by falling energy prices which alleviated the pressures from increasing primary and manufactured goods costs. Conversely, retail inflation rose slightly to 4.5 percent, with food inflation peaking at a nineteen-month high, primarily due to hikes in prices of manufactured and primary food items. Predictions suggest wholesale price index inflation may dip below 9.5 percent next month.

The Supreme Court fined Reliance Industries ten lakh rupees for delaying a suit. NTPC filed the natural gas supply contract case against Reliance back in 2005. The court noted Reliance's continuous obstruction of the legal proceedings for two decades. This action came after the Bombay High Court's decision regarding witness affidavits. The apex court expressed strong disapproval of the prolonged litigation and its impact.

The New Development Bank is set to invest $7.5 billion in India, focusing on local currency financing aimed at strengthening emerging economies. By launching a rupee bond program, the bank aims to enhance India's domestic capital markets. This initiative reflects the bank's commitment to diversifying international financial structures, capitalizing on the substantial growth prospects that India's development presents.

Thermo Fisher Scientific is amplifying its investment footprint in India, driven by the strong anticipated growth in the biosimilars and innovative medicines sectors. With projections indicating a substantial rise in India's biosimilars exports by 2030, local pharmaceutical companies are pivoting towards advanced biologics and research initiatives. To foster scientific talent, Thermo Fisher has also established a bioprocess center in Hyderabad for comprehensive training.

Arizona State University launched a new bachelor's degree in content creation, sparking debate. Many universities are now offering similar programs to attract students seeking new careers. Content creation is a time-consuming and labour-intensive job, often with low initial pay. While the creator economy is growing, most revenue does not go to individual creators.

The government is actively considering a single-window system designed for space sector approvals, aiming to enhance efficiency in business operations and notably cut approval durations. Multiple departments have engaged in discussions to create this inter-ministerial platform for shared applicants, addressing the longstanding demand from the space industry for reduced regulatory difficulties. This system's implementation is set to streamline the application process for diverse space ventures.

Neo Wealth Partners acquired a 9.9% stake in Keertana Finserv for Rs 230 crore. This investment supports Keertana's expansion in the growing gold loan market. Other firms like Bain Capital and Tata Capital are also active in this sector. Keertana aims to grow its portfolio to Rs 6,000 crore by March 2027. The Indian gold loan market is projected for significant future growth.

The Master Plan 2047 has been greenlit by the Delhi Development Authority and is pending final approval from the government. This initiative seeks to clarify the landscape of real estate in the city, streamlining business operations by simplifying clearance processes. It tackles land scarcity issues with a focus on redevelopment in key zones, and experts predict it will greatly influence the property market in the national capital.

Millet prices are increasing as farmers plant less of these nutritious grains. Lower planting this year could further tighten supplies and raise food costs. Jowar prices saw an 11% year-on-year increase in July, while small millets rose over 21%. Inflation in ready-made food products also climbed to nine percent. Wholesale prices for jowar and ragi indicate higher input costs for manufacturers.

Mitsubishi is nearing an exit from NTPC's Farakka power project. The Japanese firm will compensate NTPC with 851 crore for the project. This agreement follows earlier compensation demands and offers between the two companies. Significant work remains incomplete on the flue gas desulphurisation equipment installation. The project was initially estimated at 1,000 crore when awarded six years ago.

ICICI Bank is seeking a substantial $1.45 billion loan from a banking consortium. Bank of America is leading the syndicate, which includes several international banks. This four-year loan aims to attract leveraged investors to the FCNR-B deposit program. The Reserve Bank of India is absorbing currency hedging costs for these deposits. Funds will support overseas clients making foreign currency deposits with the bank.

The Securities Appellate Tribunal has granted Zee Entertainment and Punit Goenka the go-ahead for a convertible warrants issuance. However, this approval is contingent on the appellants depositing the entire penalty imposed by Sebi. The tribunal highlighted the strong approval from public shareholders for the investment proposal, indicating that this warrants issue could substantially benefit them. Additionally, the deadline for issuing these warrants has been extended by a week.

India's foreign exchange reserves increased by $14.1 billion to $707 billion. Foreign currency assets rose by $9.9 billion, and gold reserves gained $3.9 billion. These reserves have now declined from their earlier peak of $728 billion. Further inflows are expected from FCNR(B) and ECB schemes until August 31. The Reserve Bank of India received $56.8 billion in foreign currency inflows.

K Hospitality plans to open over one hundred Wagamama outlets across India. The company has allocated five hundred fifty crore rupees for this significant expansion. This investment will scale up the popular Asian fare chain throughout the country. Consumer feedback has been very positive since the brand's initial launch last year. The company anticipates continued strong growth in system-wide sales.

The government is increasing scrutiny of sugar stocks due to surging prices. Large industrial buyers are now providing consumption data to the food ministry. Sugar mills must now detail sales of 500 metric tonnes or more annually. Physical stock checks are being conducted at mills across various states. This action follows observations of discrepancies in reported sugar stock data.

Bathware giant Kohler plans to invest at least $100 m over the next decade in the country, where it expects bathrooms to evolve with smart technology.

Food safety officials have intensified action against dairy product adulteration. Recent raids in Ghaziabad resulted in the destruction of paneer and khoya. This follows a major seizure of contaminated paneer and milk in Mathura. Authorities are conducting a nationwide campaign against food adulteration. Consumers are advised to check packaging and report suspicious products.

Heavy rainfall has triggered fresh floods across six Odisha districts. Authorities have relocated over 41,000 people to relief centers. Rising river levels are causing widespread inundation in several affected areas. Rescue teams are actively working to reach cut-off habitations. Agricultural lands and homes have been severely impacted by the ongoing deluge.

Crisil reports India's growth may slow to 6.6 percent this fiscal year. Foreign portfolio investor inflows improved significantly in July, boosting financial conditions. Systemic liquidity surplus widened, and money market rates softened during July. Bank credit growth remained strong, and bond yields declined, while the rupee weakened. The Reserve Bank of India may remain flexible on policy rates due to these factors.

Happy Independence Day 2026: Best Wishes, Quotes, Messages, HD Images, Photos and Greetings for 80th Independence Day, 15 August to Share on WhatsApp, Facebook and Instagram: Every year on August 15th, India joyously commemorates Independence Day, a day that symbolizes the nation's hard-fought liberation from British colonial rule. This celebration pays tribute to the brave freedom fighters who sacrificed everything for independence. The article is filled with heartfelt messages and wishes suita

India's upcoming Census will gather extensive personal and financial details from all citizens. This includes bank accounts, mobile numbers, and identification documents for the first time. Caste information will also be collected for every respondent since Independence. The decennial exercise, approved with Rs 11,718 crore, begins next year. Population enumeration in certain regions will occur from September 1 to 30.

Biologists found a pale aquatic creature, the demon cavefish, after three decades. This species remained undetected in Bobcat Cave, beneath Redstone Arsenal. Genetic analysis revealed it lacks vision genes, suggesting deeper aquifer habitats. Protected federal land helped preserve this fragile subterranean ecosystem. The discovery highlights ongoing biological inventories and undiscovered life forms.

The SRA has set an ambitious goal to construct over 500,000 homes by the end of 2030. To facilitate this, annual targets will hasten slum redevelopment initiatives throughout the area. Innovations like amnesty programs and collaborative models are introduced for projects that have stalled. Additionally, a digital framework and computerized systems will enhance operational efficiency, while the Dharavi redevelopment is advancing through three distinct phases.

The government has removed the 12-minute per hour advertisement cap for television channels. This decision follows sweeping changes in the broadcasting landscape and a growing number of channels. The restriction, introduced in 2006, is being lifted to ensure fair competition and ease of business. Previously, the Delhi High Court had upheld this advertisement duration restriction. The amendment to the Cable Television Networks Rules, 1994, will be notified soon.

The Madhya Pradesh High Court has stayed an FSSAI order banning whisky and rum sales. This interim order was passed on August 6, preventing the ban's immediate effect. The court cited the regulator's failure to consider the company's reply to its notice. The company argued that its products comply with excise laws and challenged FSSAI's jurisdiction. The High Court has directed the Centre to file its response within four weeks.

The CBI has taken decisive action against corruption by arresting five North Western Railway officials in Jaipur and Bikaner. These arrests, made on Thursday, stem from separate bribery cases involving officials who accepted payments to expedite company bill processing. An initial recovery of Rs 1.46 lakh was made, with extensive searches unveiling another Rs 9 lakh related to these cases, and an additional Rs 1.

Wholesale inflation is expected to stay high despite a slight decrease in July. Global energy prices and geopolitical uncertainty pose ongoing risks to price moderation. Manufacturing costs remain elevated, contributing to sustained wholesale price pressures. Economists predict inflation will remain high for much of the year. A gradual decline in wholesale inflation is anticipated with easing energy costs.

Raymond LeDreau lived as an unofficial caretaker on Anacapa Island for nearly twenty-eight years. He served in the Spanish-American War and lost his wife during the 1918 influenza pandemic. LeDreau supported himself through lobster fishing and guarding liquor during Prohibition. A cliff fall at eighty forced his removal to the mainland, after which he vanished. Frenchy's Cove on West Anacapa Island is named in his honor.

India has proposed a supervised approval regime for private nuclear projects. Foreign reactor technologies with proven overseas track records are now eligible for consideration. Developers will face extensive safety reviews throughout each project's lifetime. Regulators can halt progress at critical development stages, ensuring oversight. This move opens India's nuclear sector to private and foreign investment.

Mahindra unveiled its new Scorpio Lifestyler pickup truck for global markets. This new vehicle will launch in India by April 2027. The automaker plans to price the entry-level model below nineteen point seven nine lakh. It combines pickup utility with SUV comfort and features. The Scorpio Lifestyler will also be sold internationally.

In an interview, veteran actor Madhavan talked at length about how he tries to maintain realism in films without compromising on the element of entertainment. He also spoke about how despite his commitment to films, he had never been normal.

Air India is sending its legacy B787-8 aircraft for retrofitting to Boeing's facility in Shanghai. This move aims to expedite the revamp of the airline's wide-body fleet. Currently, three Dreamliners have completed their retrofits, and two are undergoing work. The airline plans to retrofit sixteen Boeing 787-8 aircraft in the year 2027. Air India Group expects to induct over one hundred new planes within the next two years.

Actor R Madhavan, lately seen in the Tamil biographical drama GDN, brought to light 5 remarkable benefits of playing golf. He pointed out that the game can greatly reduce anxiety and alleviate depressive symptoms. Golf is also a fantastic way to build social bonds and effectively manage stress. Moreover, it contributes positively to the mental health recovery journey. Madhavan celebrated the legacy of Bob Walls, a 103-year-old golfer, in his remarks.

Juniper Hotels will invest Rs 850 crore for a new 550-key hotel in Dwarka. This new property is expected to be completed by the year 2030. The company has secured a licence deed with the Delhi Development Authority for this project. Juniper Hotels aims to double its key count to approximately 3,900 by FY 2030-31. The group is also evaluating inorganic opportunities to expand its portfolio.

In an interview, the actor, who rose to stardom doing films such as Alaipayuthey, Minnale, etc., said that he is still willing to do a romantic film, but that must be age-appropriate and mindful of his age.

India recorded an $8.1 billion balance of payments deficit in the April-June quarter. This occurred despite a $2.9 billion surplus recorded for the month of June. The current account balance slipped to a $3.1 billion deficit for the quarter. Net transfers and capital account inflows saw significant increases during June. Policy measures aim to boost dollar inflows for the fiscal year.

Average life insurance premiums rose significantly between FY2021 and FY2025. Policyholders are increasingly choosing higher sum assured amounts for their policies. The proportion of policies with low cover levels has notably declined. Higher value sum assured categories have gained considerable market share. This trend indicates a growing commitment to financial security among policyholders.

The Reserve Bank of India recently announced a revised timeline for the swap facility associated with FCNR(B) deposits, now set to end on August 31, 2026. This adjustment follows an unexpected increase in foreign currency inflows noted until August 13. Meanwhile, borrowers utilizing ECB and OFCB options will continue to benefit from an extended scheme, running through December 31, 2026.

Durgabai Kamat, India's first female actor, shattered societal norms by pioneering her presence in early Indian cinema. With a strong foundation in prose performances and adaptations of Shakespeare, she captured the attention of Dadasaheb Phalke, who cast her as Parvati in his groundbreaking film, Mohini Bhasmasur. Her daughter, Kamlabai, took on the role of Mohini, creating a remarkable legacy as a mother-daughter pairing that would forever alter the landscape of Indian film.

New AI hardware like smart glasses could challenge the smartphone's primary computing role. Smart glasses are showing strong growth, while standalone AI devices struggle to gain traction. Google focuses on making existing devices more helpful with embedded AI capabilities. Smartphones offer a strong foundation with their existing hardware and software ecosystems. The future likely involves a blend of devices, with smartphones remaining a central hub.

A Delhi court permitted the CBI to conduct further investigation into the NEET paper leak. Fresh digital evidence and CFSL reports necessitated a deeper look into the case. The agency seeks to investigate individuals not yet listed as accused in the ongoing probe. The court had previously taken cognisance of the charge sheet against thirteen accused individuals. This development follows the cancellation of the NEET-UG exam amid paper leak allegations.

The BJP criticized Rahul Gandhi's comments on Prime Minister Narendra Modi's foreign policy. BJP spokesperson Sudhanshu Trivedi called Gandhi's remarks arrogant and indicative of madness. He questioned if Gandhi's actions were childish or part of a conspiracy. The BJP stated that Gandhi's language was rude and indecent.

PlayStation Plus subscribers receive new games this August, including Helldivers 2 and Kingdom Come. Vampire Survivors and Hell Is Us also join the Game Catalog for members. Premium subscribers can enjoy classic titles Onimusha and Disney's Atlantis. Helldivers 2 is available immediately, with other games arriving later. This month offers a varied selection of gaming experiences for all players.