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The Economic Times

Economy / The Economic Times

Victoria police launches Operation Securus in Shepparton to crack down on retail theft

Operation Securus: Shepparton police have launched Operation Securus to combat escalating shop theft. A five-member team will work with retailers to target repeat offenders. This initiative follows a successful previous operation. Retail crime has reached a decade high in the region. A new online reporting system will aid police in identifying and apprehending thieves. The operation will initially focus on Shepparton CBD.

16 May 2026 7:50 am
Karnataka, Bangalore Rain Update: Bengaluru to get showers this weekend, IMD sounds orange alert for state and warns of thunderstorms and gusty winds

Bangalore , Karnataka Weather Update: Karnataka is bracing for rainfall across coastal, south Interior, and North Interior regions starting May 16, with a low-pressure area over the Bay of Bengal persisting. Bengaluru may experience moderate to heavy showers, while several districts are under orange and yellow alerts for heavy rain, thunderstorms, lightning, and strong winds.

16 May 2026 7:38 am
Karuppu box office collection day 1: Suriya, Trisha Krishnan's film sees thunderous opening, earns Rs 20 crore globally

Despite facing last-minute release hurdles, Suriya and Trisha's Karuppu achieved a strong opening globally. The Tamil version dominated domestic collections, with strong occupancy, while the Telugu version also contributed significantly. The film's successful debut marks a reunion for the lead actors after nearly two decades. Read on to know how much it earned in India.

16 May 2026 7:19 am
A new Ebola outbreak is confirmed in a remote Congo province, with 65 deaths recorded

Africa CDC has confirmed a new Ebola outbreak in Congo's Ituri province. Hundreds of suspected cases and dozens of deaths have been recorded. The virus is highly contagious and can be fatal. This outbreak raises concerns due to population movement and insecurity. Health authorities are convening an urgent meeting to coordinate a response and prevent further spread.

16 May 2026 7:08 am
Godrej family buys two sea-facing luxury apartments in Worli for Rs 294 cr

Godrej family scion Tanya Dubash has purchased two sea-facing luxury apartments in Mumbai's Worli for over Rs 294 crore, making it one of the country's most expensive residential deals. The ultra-luxury tower Naman Xana has attracted other high-profile buyers, highlighting continued demand for premium Mumbai residences as legacy assets.

16 May 2026 6:50 am
India's April exports jump 13.8%, trade gap widens to 3-month high

A 10% rise in imports, despite a steep decline in inbound shipments from West Asia amid the continuing geopolitical disruptions, widened the trade deficit to $28.38 billion in April from $27.1 billion a year ago. The exports growth came despite India's outbound shipments to West Asia falling by more than a quarter, officials said.

16 May 2026 6:00 am
Four years of frozen fuel prices end as Iran war bites: India raises petrol, diesel by Rs 3/litre but oil firms say it's not enough

Fuel prices have increased by Rs 3 per litre for petrol and diesel. This is the first pump price hike in four years. The move aims to reduce losses for oil companies. However, it is expected to increase freight costs and inflation. More price revisions are anticipated in the coming weeks. CNG prices have also seen a rise.

16 May 2026 5:30 am
African proverb of the day: 'A home without a woman is like a barn without a...' - life lessons on women's role in family unity, love, togetherness, support, emotional connection and what truly makes a home

African proverb of the day: The African saying emphasizes that relationships and emotional connections, not just material comfort, define a home. This saying highlights the vital role of human connection, care, and family in creating warmth and balance, urging appreciation for those who foster these bonds.

16 May 2026 5:23 am
Quote of the day by Confucius: 'Old age, believe me, is a good and pleasant thing. It is true you are gently shouldered off the stage, but then...' inspiring lessons on aging, lifes changing priorities and why growing older will help find peace by Confucianism founder

Quote of the day by Confucius: Confucius viewed aging not with fear but as a comfortable transition. He believed older years offer a unique perspective, allowing one to observe life with gained wisdom and clarity. This shift from active participation to a spectator role brings a different understanding and appreciation.

16 May 2026 4:40 am
Quote of the day by Ambrose Bierce: 'All are lunatics, but he who can analyze his delusion is called a philosopher...' - The dark truth about madness and philosophy explained by the American author-poet

Ambrose Bierces quote of the day reflects his deeply cynical view of human nature, suggesting that everyone lives with some form of illusion and what separates a philosopher is not the absence of bias but the awareness and analysis of it. The idea continues to resonate today because it challenges assumptions about rationality, truth, and how society labels people as sane or intelligent. Rooted in Bierces own experiences as a Civil War soldier and later a sharp satirist, the quote mirrors the the

16 May 2026 3:15 am
Dow Jones, S&P 500 and Nasdaq end this week lower as tech stocks slide, Treasury yields and oil prices climb after Trump-Xi China summit disappoints investors - US stock market performance today May 15

Dow Jones, S&P 500 and Nasdaq today: Wall Street experienced a sell-off on Friday, with major indices like the S&P 500, Nasdaq, and Dow Jones closing lower. Technology stocks led the declines as investors took profits, while rising Treasury yields and inflation concerns added pressure. Disappointment over the Trump-Xi summit and surging oil prices also contributed to the market's cautious mood.

16 May 2026 2:30 am
Quote of the day by O Henry: 'Life is made up of sobs, sniffles, and smiles, with sniffles predominating..' ; life lessons from American author

Life is a tapestry woven with both laughter and tears, joys and setbacks, a reality O. Henry eloquently captured. His quote, Life is made up of sobs, sniffles, and smiles, with sniffles predominating, underscores the inherent presence of pain alongside happiness.

16 May 2026 2:05 am
Quote of the day by Stephen Hawking: 'Success in creating AI would be the biggest event in human history. Unfortunately, it might also...' - lessons from the astrophysicist's warning on risks of artificial intelligence and human responsibility

Quote of the day by Stephen Hawking: Renowned physicist Stephen Hawking cautioned about artificial intelligence. He believed AI could be humanity's greatest achievement, but also its last if risks are not managed. Hawking foresaw AI's power to transform life through science and medicine. However, he warned of dangers like loss of control and misuse.

16 May 2026 1:45 am
Quote of the Day by Aristotle: 'The safest way of not being very miserable is'-Father of Political Science's timeless lesson on excellence, effort and destiny

Aristotle's enduring quote, Excellence is never an accident, emphasizes that greatness stems from high intention, sincere effort, and intelligent execution, not chance. His philosophy, developed through extensive study and teaching at the Lyceum, highlights the importance of deliberate choices and consistent action in shaping one's destiny and character, a principle still relevant today.

16 May 2026 1:38 am
Limited price raise shows how much of global hit govt has absorbed: Goyal

Piyush Goyal stated the government absorbed global oil price hikes by cutting excise duty. He highlighted significant fertiliser subsidies for farmers. The minister also mentioned voluntary austerity appeals for reducing imported commodity consumption. Efforts are underway to boost trade with the US, aiming for preferential market access.

16 May 2026 1:37 am
PSBs tap liquidity buffer to meet strong loan demand

Public sector banks in India are seeing their liquidity coverage ratios decline. This trend is driven by strong loan demand outpacing retail deposit growth. Banks are using their excess liquidity to fund loans. This situation is expected to improve with new regulatory norms starting in Q1 FY27. The changes will impact how certain business accounts are treated for liquidity calculations.

16 May 2026 1:27 am
Smaller banks find it harder to hit a home run

Larger banks are dominating the home loan market. Mid-sized private banks are struggling as competition squeezes profits. State Bank of India, ICICI Bank, HDFC Bank, and Kotak Mahindra Bank are expanding their mortgage books. These big lenders use lower funding costs and wider reach. They see home loans as a way to build lasting customer relationships.

16 May 2026 1:20 am
PFC-REC merger may not be a priority amid war squeeze

Boards of Power Finance Corporation and REC will meet Saturday. Uncertainty surrounds their proposed merger. The government's stake may fall below 51 percent. This could require a substantial capital infusion of around 25,000 crore rupees. Analysts question the feasibility of this. The merger is targeted for April 1, 2027. Discussions continue on the final structure.

16 May 2026 1:16 am
Centre extends Rs 7,280-crore rare earth magnet scheme bidding timelines amid stakeholder demand

The government has extended deadlines for a major scheme promoting rare earth permanent magnet manufacturing. This move aims to encourage more companies to participate. The bid submission date is now June 29, and technical bids will be opened on June 30. This extension provides crucial additional time for stakeholders involved in the bidding process.

16 May 2026 1:16 am
TVS, other investors keen to buy into Jana Small Finance Bank

Jana Small Finance Bank is poised for a significant capital infusion. The TVS Venu Group plans to acquire a 10% stake. Several other investors are also lining up to invest. This marks Jana's first equity raise since going public. The bank's capital adequacy ratio remains strong. TPG Capital may partially reduce its holding.

16 May 2026 1:12 am
Air India weighed down by external shocks: Singapore Air CEO

Air India's losses have significantly impacted Singapore Airlines' annual profit. Geopolitical issues, airspace closures, and currency fluctuations are cited as key reasons. Despite these challenges, Singapore Airlines remains committed to Air India's long-term turnaround. The airline is a core part of its multi-hub strategy. Support for the transformation continues alongside Tata Sons.

16 May 2026 1:06 am
Curbs on compressor imports could hit supply of ACs & refrigerators, warn companies

The concern follows a May 8 order by the Department for Promotion of Industry and Internal Trade (DPIIT), which links compressor imports in the current fiscal to a percentage of volumes imported in FY25.

16 May 2026 1:06 am
Delhi high street retailers push NDMC to rework property tax

At the New Delhi Municipal Corporation (NDMC) under which these markets come, the property tax is up to 25% of the rent collected while in other parts of Delhi it's just 2-3%.

16 May 2026 1:02 am
Import tariff values for gold, silver raised

India's customs board has increased import tariff values for gold and silver. This move aims to manage import costs due to global commodity price changes. Edible oils like palm and soybean oil also see minor adjustments. These new valuations will be effective from May 16, 2026. Policymakers are also looking to control pressure on foreign exchange reserves.

16 May 2026 12:56 am
LVMH to sell Marc Jacobs to WHP, G-III

LVMH has taken a bold step by selling the iconic Marc Jacobs fashion label to a partnership formed by WHP Global and G-III Apparel Group. Marc Jacobs will still hold the reins as creative director, ensuring the brand's identity remains intact.

16 May 2026 12:56 am
Chinese Proverb of the Day: The woman who tells her age is either too young to have anything to lose or too old to have anything to gain Life lessons on perception, social expectations, identity and why confidence speaks louder than age

Chinese Proverb of the Day highlights the meaning of The woman who tells her age is either too young to have anything to lose or too old to have anything to gain. The saying reflects how age is often shaped by social perception, expectations, and personal confidence rather than just a number. It suggests that people may choose to reveal or conceal their age depending on how they feel society will judge them.

16 May 2026 12:55 am
Diageo top executives to exit as CEO pushes for revamp

In a bold transformation, Diageo is embracing a new era under the leadership of CEO Dave Lewis. With an eye for innovation, Lewis is executing a profound restructuring, bidding farewell to several key figures in departments like marketing, Africa, and human resources.

16 May 2026 12:53 am
GST Tribunal revamps appeal process: Division bench review now mandatory for appeals

The move seeks to prevent smaller benches from deciding cases involving important legal questions, ensure consistent rulings, and streamline the process of resolving disputes.

16 May 2026 12:50 am
SC upholds HC order directing Flipkart not to use 'MarQ' name

The Supreme Court has ruled against Flipkart India regarding its 'MarQ' electronics brand. The court found the name too similar to Marc Enterprises' 'Marc' trademark. Flipkart must now stop using the 'MarQ' name and sell off existing stock within eight weeks. This decision follows a Delhi High Court order. Marc Enterprises has used its 'Marc' brand since 1981.

16 May 2026 12:50 am
Petrol exports to attract 3/litre excise duty

New Delhi is shaking up its energy export policy with the introduction of a specialized excise duty on petrol exports. Meanwhile, the government is easing the burden on diesel and aviation fuel exports by cutting associated levies. Starting May 16, exporters will enjoy a zero road and infrastructure cess on petrol and diesel, although domestic fuel prices remain firmly unchanged.

16 May 2026 12:50 am
PM Modi denies proposal to impose surcharge on foreign travel

Addressing concerns about reports suggesting a new tax on international travel, Prime Minister Narendra Modi was quick to clarify that such plans are entirely unfounded. He emphasized the government's focus on facilitating business growth and enhancing living standards. Furthermore, he urged collaboration to navigate the complexities of the current global economy and curb rising costs.

16 May 2026 12:48 am
Bidding deadline for oil, gas blocks extended to June 19

The government has also extended the deadline for the eleventh round under the Open Acreage Licensing Policy (OALP), launched in March. he new bid submission deadline for both rounds is June 19, according to the Directorate General of Hydrocarbons (DGH), the oil ministry's upstream regulator that oversees licensing rounds.

16 May 2026 12:47 am
Petroleum dependence significant across core sectors, official data shows

As oil prices climb, significant Indian industries brace for impact. Transportation, farming, and power generation are especially reliant on petroleum, making them prime targets for economic instability with the unrest in the Middle East. Furthermore, mining and iron ore sectors also show marked susceptibility as recent data unveils these stark vulnerabilities in the economy.

16 May 2026 12:47 am
Winner pays USD 9 million in charity auction for a private lunch with Warren Buffett, Stephen Curry

The auction on eBay was intended to revive an event that Buffett hosted for more than two decades that raised USD 53 million for the GLIDE Foundation homeless charity in San Francisco. This year's auction that wrapped up Thursday night also raised month for Curry's Eat.Learn.Play. Foundation that he established with his wife, Ayesha.

16 May 2026 12:45 am
Allahabad HC grants bail to men held over Ganga iftar row

The Allahabad High Court has granted bail to a group of men. They were accused of consuming non-vegetarian food on a boat in the Ganga river in Varanasi. The men also allegedly threw leftover waste into the river. The court heard their bail applications. The next hearing for other accused is scheduled for May 18.

16 May 2026 12:45 am
Why the saree needs revival, not constant reimagination

As a timeless representation of Indian culture, the saree is calling for a renaissance. Despite its survival through the ages, there's a significant momentum towards modernizing this traditional attire, yet such changes frequently overlook the dedicated weavers behind the craft. Widespread acceptance among diverse socio-economic groups is key to ensuring its longevity.

16 May 2026 12:44 am
Fuel price hike may push inflation up by 20 bps, say experts

Fuel prices have risen, potentially pushing retail inflation up by 0.15 to 0.20 percentage points. Experts warn this could lead to wider price increases across the economy. Higher transport and logistics costs are expected to impact various sectors. This development follows recent increases in gold and milk prices. The full effect on inflation will become clearer in the coming months.

16 May 2026 12:39 am
Commission of Inquirys deadline extended until November 20

The Centre has extended the deadline for the Commission of Inquiry probing Manipur's ethnic violence. The panel will now submit its report by November 20, 2026. This commission was formed in June 2023 to investigate the violence that began in May 2023. Over 260 people have died due to the ongoing conflict in the northeastern state.

16 May 2026 12:39 am
Kyiv mourns as death toll from Russian attack in the Ukrainian capital rises to 24

The cruise missile hit the nine-story corner apartment block Thursday during what the Ukrainian air force said was Russias biggest barrage on the country of the full-scale invasion. Emergency workers finished digging through the rubble searching for victims after more than a day, Zelenskyy said on X.

16 May 2026 12:38 am
Trump plans statue park near National Mall, may trigger legal fight

President Donald Trump is set to unveil a grand vision for West Potomac Park: the National Garden of American Heroes, a statue garden commemorating 250 influential Americans. While this project promises to celebrate national pride, it may face opposition from legal challenges related to D.C.'s rigorous development guidelines.

16 May 2026 12:38 am
India, UAE bolster defence, energy & infra partnership

In a landmark move towards deeper collaboration, India and the UAE have inked multiple agreements focusing on defense, energy, and infrastructure development. During a pivotal meeting, Prime Minister Narendra Modi engaged with UAE President Sheikh Mohammed bin Zayed Al Nahyan to deliberate on critical regional stability initiatives and to firmly denounce recent attacks on the UAE.

16 May 2026 12:37 am
Eating out or ordering online may soon cost more: Food services set to become 510% costlier starting next week amid fuel price hike

Eating out and ordering food will soon cost more. Fuel prices have increased, impacting restaurant expenses. This will lead to a 5-10% rise in prices for consumers. Restaurants are facing higher costs for fuel, LPG, and labor. Some chains will adjust menu prices next week, while others will do so in July.

16 May 2026 12:37 am
Rajnath Singh, N Chandrababu Naidu launch Combat Aircraft infrastructure facility in Andhra Pradesh

India has officially launched its ambitious Advanced Medium Combat Aircraft project. Defence Minister Rajnath Singh and Andhra Pradesh Chief Minister N Chandrababu Naidu attended the groundbreaking ceremony. The manufacturing unit for these next-generation stealth fighter jets will be established in Puttaparthi.

16 May 2026 12:34 am
Steel safeguard measure hits India-UK trade pact rollout

India's trade deal with the UK is delayed by new British steel rules. Officials are seeking a creative solution for early implementation. Meanwhile, India and the US are nearing an interim trade agreement. India also aims to boost exports to $1 trillion by 2026-27, with ongoing reviews for pacts with Korea and the Maldives.

16 May 2026 12:34 am
POTUS: China is paying substantial tariffs, but we didn't discuss levies

While Trump maintained the leaders this week spoke about almost everything you can discuss, except for a reduction of tariffs, he did allow that the two sides outlined efforts to reduce the flow of precursor chemicals used in the production of fentanyl. Trump has cited fentanyl flows in imposing some of the levies he placed on China.

16 May 2026 12:31 am
Fidelity data breach settlement with up to $5,000 compensation for affected customers- here's who can file a claim

Fidelity Investments is settling a class-action lawsuit for $2.5 million following a 2024 data breach. Customers whose financial account and routing numbers were compromised between August 17-19, 2024, may qualify for up to $5,000 in compensation for documented losses. The settlement also includes identity theft protection and credit monitoring services. Claims must be filed by July 27, 2026.

16 May 2026 12:31 am
Textile industry seeks cotton import duty cut as prices surge 25%, output falls short

Indian textile makers are urging the government to abolish the 11% import duty on raw cotton. Domestic prices have surged by 25% in two months. Production is also expected to fall short of initial forecasts. Manufacturers face stiff competition from countries with duty-free cotton imports. This demand follows a government mission to boost cotton productivity and self-sufficiency.

16 May 2026 12:30 am
NHPC sharpens AI focus for real-time flood forecasting

India's dam infrastructure faces challenges from extreme weather. NHPC is now using Artificial Intelligence for better flood forecasting and dam monitoring. An AI platform called 'eAabhas' uses sensors and machine learning for early warnings. This technology will improve accuracy and help protect dams and people. It integrates data from various agencies for better decision-making.

16 May 2026 12:29 am
Quote of the Day by the Professor from Money Heist:When the odds are against us, that's when we shine the brightest Inspiring quote on overcoming challenges, persistence, survival, strategic thinking and why difficult moments reveal true strength

Quote of the Day by the Professor from Money Heist: When the odds are against us, that's when we shine the brightest is a powerful reflection on resilience, mental strength, and the ability to rise during adversity. Spoken by the brilliant mastermind known as The Professor, the quote highlights how true potential often appears in moments of pressure and uncertainty rather than comfort. It encourages people to see challenges not as barriers, but as opportunities for growth, courage, and self-disc

16 May 2026 12:28 am