The Economic Times

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.

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.

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.

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.

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.

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.

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.

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.

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.

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.

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%.

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.

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.

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.

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.

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

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.

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.

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.

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.

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.

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.

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.

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.

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.

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.

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.

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.

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.

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.

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.

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.

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.

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.

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.

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.

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

Chhattisgarh's Chief Minister, Vishnu Deo Sai, has launched an innovative program aimed at revitalizing inactive police and paramilitary camps within tribal territories by transforming them into 'Seva Kendras'. This initiative aspires to deliver a plethora of government services right to the heart of underserved communities.

A young tech professional from a top engineering college earns a substantial salary but lacks job satisfaction. He finds coding uninteresting despite his success. Offered admission to a premier business school, he hesitates due to the prospect of another competitive academic journey. He acknowledges the comfort of his current tech career but questions his long-term engagement with coding.

An engineer's simple question about a startup's revenue model led to an HR manager abruptly ending an interview. The techie sought to ensure company stability before committing to unpaid work. Fellow Redditors supported the engineer's inquiry, highlighting the HR's defensive reaction and the importance of due diligence in startup environments. Many shared similar experiences with unproven ventures.

Russia has increased oil supplies to India, according to Foreign Minister Sergey Lavrov. This comes as a crucial US waiver for purchasing Russian crude is set to expire. Lavrov met with Prime Minister Narendra Modi and External Affairs Minister S Jaishankar to discuss energy trade and strengthen the strategic partnership.

Jewish Proverb of the Day: A Jewish proverb reveals true heroism lies in conquering personal urges. This ancient wisdom highlights self-control as the ultimate strength. It applies to modern life, guiding relationships, careers, and personal well-being. Mastering impulses leads to freedom and inner peace. This focus on internal battles offers a timeless perspective on personal growth and resilience.

Quote of the day by Benjamin Franklin is rapidly trending across self-improvement, emotional intelligence, and wisdom quote searches in 2026. Franklins timeless words He that would live in peace & at ease, Must not speak all he knows or judge all he sees reflect a deep truth about modern life. In an age driven by opinions, social media reactions, and constant judgment, this Benjamin Franklin quote on peace and silence feels more relevant than ever.

Chinese proverb of the day: Ancient Chinese saying highlights the profound impact of our words and actions. Spoken words, whether kind or harsh, linger and shape trust and reputations, often being repeated and transformed. Similarly, our deeds serve as silent examples, influencing others to imitate our behavior.

Karnataka is set to establish a dedicated drone flight testing facility near Bengaluru. The state aims to streamline regulations and attract drone manufacturers and startups. This initiative includes creating shared testing spaces and simplifying regulatory pathways. Discussions also covered skilling and government adoption of drone technology.

African Proverb of the Day highlights the meaning of A woman is a flower in a garden; her husband is the fence around it. The proverb uses symbolic imagery to reflect traditional ideas about love, marriage, protection, and partnership. It suggests that, like a flower in a garden, a woman deserves care, respect, and a supportive environment to flourish.