The Economic Times

Karnataka, including Bengaluru, is set for continued rainfall until May 21, with a yellow alert issued for the capital and surrounding areas. Heavy pre-monsoon showers, thunderstorms, and gusty winds are anticipated across the state from May 22. Orange alerts are in effect for several southern districts, warning of heavy rain and potential hailstorms.

Donald Trump is purging Republican politicians who have not shown him loyalty. This strategy energizes his core supporters. However, some Republican strategists believe this could hurt the party's chances in the upcoming midterm elections. Candidates in competitive races may feel pressured to align closely with Trump, potentially alienating moderate voters.

Falta polling begins: Voting is underway for the Falta assembly seat re-election in West Bengal's South 24 Parganas district. The repoll was ordered due to electoral offences during the earlier April 29 polling. Over 2.36 lakh voters are eligible to cast their ballots. Tight security is in place with 35 companies of Central Armed Police Force deployed.

US President Donald Trump and Israeli Prime Minister Benjamin Netanyahu held a tense phone call regarding the war on Iran. Washington favors a deal, while Netanyahu wants to resume strikes to weaken Iran. Mediators are working on a peace memo. Trump believes a deal is possible but is ready for war if negotiations fail. Iran is reviewing a proposal.

Chinese President Xi Jinping might visit North Korea next week. This visit could see him mediating between US President Donald Trump and North Korean leader Kim Jong Un. China and North Korea are strengthening ties. Trump has previously met Kim multiple times to discuss North Korea's nuclear program. He remains open to another meeting.

U.S. Treasury yields and oil prices fell as hopes increased that the U.S. is nearing a deal with Iran to end the war in the Middle East, while major stock indexes rose.

Telangana heatwave alert: Telangana faces a severe heatwave as the IMD issues a red alert for 14 districts, with temperatures potentially reaching 47C. Over 84 locations reported heatwave conditions, with Dilawarpur in Nirmal district hitting a scorching 46.5C. While isolated light rainfall is forecast, dry weather is expected to dominate soon.

Oil price today: Brent crude futures rose 81 cents, or 0.77 per cent, to $105.83 a barrel, and U.S. West Texas Intermediate futures were up 97 cents, or 0.99 per cent, at $99.23.

President Trump is expected to sign an executive order on AI and cybersecurity, establishing a voluntary framework for developers to share new models with the government 90 days before public release. This move aims to balance pressure from populist supporters for increased oversight with the tech industry's resistance to mandatory requirements.

Business Insider CEO Barbara Peng is stepping down by the end of next month to pursue new opportunities driven by technological change. Christian Baesler will serve as interim lead. Peng's departure follows recent newsroom staff reductions as the company navigates challenges posed by AI in search.

Airbnb, facing tighter local regulations on short-term home rentals, announced Wednesday it is adding boutique hotels, car rentals and grocery delivery to its app in a bid to transform itself into a one-stop travel shop. The updated app adds grocery delivery through Instacart in more than 25 US cities, as well as airport and train station transfers and luggage storage services in more than 160 cities worldwide.

U.S. stock market bounced back after pressure eased on Wall Street from the bond market and oil prices gave back some of their big gains.

India and Italy elevated their Strategic Partnership to a Special Strategic Partnership during Prime Minister Modi's visit, signing key agreements in defense, technology, and trade. Both nations aim to boost bilateral trade to 20 billion by 2029 and are committed to early implementation of IMEC, fostering deeper cooperation across various sectors.

India has strongly criticized Pakistan at the UN Security Council. India highlighted Pakistan's history of genocidal acts. It stated that Pakistan attempts to hide its internal failures through violence. India also pointed to Pakistan's airstrikes on Afghanistan, which caused civilian casualties. These actions demonstrate Pakistan's disregard for international law and human life.

Iran's new Persian Gulf Strait Authority has established a controlled maritime zone in the Strait of Hormuz. Transit through this zone, defined by specific connecting lines between Iran and the UAE, will now require prior coordination and authorization from the authority.

Selena Gomez's famous quote about Cinderella offers a powerful message on letting go. It highlights the importance of not looking back to find happiness and success. Gomez's own life experiences with public scrutiny and personal struggles make this advice deeply relatable. Her journey from Disney star to entrepreneur emphasizes resilience and emotional honesty.

After a blockbuster theatrical run and weeks of OTT confusion, Dhurandhar 2: The Revenge is finally ready for its digital release in India. Starring Ranveer Singh, the spy thriller brings action, suspense and political drama, while the much-discussed Raw & Undekha version has already sparked massive buzz among fans eager to experience the films uncensored world online. Read on to know more about it.

Iran said on Wednesday it was examining a new US proposal to end the Middle East war, as President Donald Trump described the talks as being on the orderline between a deal and renewed strikes. Ghalibaf warned of a forceful response, while Iran's Revolutionary Guards said any renewed conflict would spread far beyond the Middle East.

The notice issued by the Central Drugs Standard Control Organisation (CDSCO) cites provisions of the Drugs and Cosmetics Act, 1940, and the Cosmetics Rules, 2020.

Meloni described Melody as a very very good toffee in a short video that quickly went viral, riding on the already popular 'Melodi' meme culture around the two leaders' social media camaraderie and triggering a spike in searches and purchases of the decades-old confectionery brand.

Amancio Ortega built the Zara empire from a small clothing job in Spain to a global retail business worth billions. Today, Inditex operates in more than 200 markets and remains the worlds largest fast fashion retailer. Ortega changed fashion forever through speed, affordable style, and customer-driven retail strategy.

Meta has offered rival AI chatbots limited free access to WhatsApp in Europe, with charges to be implemented after a usage threshold is met. This move aims to appease EU regulators concerned about Big Tech's market dominance. Smaller rivals, however, deem the proposal insufficient and discriminatory.

New Chinese regulations are impacting India's goal to become a global electronics manufacturing center. These curbs aim to control supply chains and can lead to penalties for companies shifting production. India's electronics industry is seeking urgent government help. The measures could affect supply chain stability, investments, and export growth. The government is aware and consulting on potential actions.

Insurers may soon see relaxed investment rules for real estate and infrastructure trusts. The regulator is considering a combined 6% exposure limit, up from the current 3% for each. Strong investor interest in recent infrastructure offerings, like the Raajmarg InvIT, has fueled demands for greater insurer participation in these long-duration yield assets.

India is set to launch a national registry for implantable medical devices. This initiative aims to track all devices and patients, ensuring only certified products are used. The registry will help curb overuse and fix accountability. It will also aid in identifying patients during recalls and tracking real-world safety.

A federal judge has ordered the Trump administration to comply with the Presidential Records Act, rejecting a Justice Department opinion that deemed the law unconstitutional. U.S. District Judge John Bates ruled the act is likely constitutional and found a substantial risk of non-compliance.

In an era of social media comparison, Jordan Peterson's quote, Compare yourself to who you were yesterday, not to who someone else is today, offers a powerful antidote. This advice shifts focus from external validation to personal responsibility and gradual self-improvement, resonating deeply with millions seeking a more grounded path to growth and self-worth.

Epicurus quote of the day highlights a simple but enduring idea that true happiness is not defined by possessions but by how much we are able to appreciate and experience life. It suggests that material wealth does not automatically bring satisfaction, as people can feel content with little while others with abundance may still feel empty. The philosophy behind this thought encourages shifting focus away from constant accumulation and towards valuing peace of mind, meaningful relationships, and

Gold jewellery loans have seen a massive 50 percent jump year-on-year, reaching 19 lakh crore. This makes it the fastest growing retail loan category. The surge is driven by rising gold prices and a shift in borrowing habits. This growth has boosted the overall retail loan market. Asset quality has also improved with declining delinquency levels across most segments.

India plans a major shipbuilding cluster in Andhra Pradesh with 30,000 crore investment. This move aims to boost the Indian fleet size. Projects for West Bengal's waterways and ports are also set to accelerate. India has repatriated over 3,000 seafarers due to West Asia disruptions. Shipping services to alternate ports have significantly increased.

Private fuel sellers Nayara Energy and Shell saw sales drop significantly in April. They increased prices after the Iran war began. Consumers shifted to state-run companies that kept prices steady. This caused market share losses for Nayara and Shell. RIL-BP however reported strong sales growth. Localized fuel shortages occurred as demand moved to neighboring stations.

The Central Board of Indirect Taxes and Customs has introduced new procedures for vessel entry and departure. Customs officers will now grant clearance remotely, eliminating the need for physical boarding. This change aims to accelerate port operations and reduce delays across India. Mandatory online filing of cargo declarations will enable this faceless and paperless system.

Indian oil companies are pushing ahead with major expansion and clean energy projects. Indian Oil Corporation plans significant investments in refining and renewable energy. Bharat Petroleum Corporation Limited is also allocating substantial funds for refining and marketing. Hindustan Petroleum Corporation Limited's capital expenditure is expected to be slightly lower. These companies are focused on growth and energy transition.

The Competition Commission of India is enhancing its capabilities to understand digital markets and artificial intelligence. The regulator is hiring data scientists and analysts with expertise in AI tools and digital market operations. This move aims to strengthen the CCI's oversight. The CCI is also increasing approvals for non-problematic transactions through an automated route.

Navi Mumbai International Airport will see lower passenger charges. India's airport tariff regulator has approved reduced user development fees. Domestic flyers will pay 620 and international flyers 1,225. This decision moderates charges at the new airport. The regulator also cut the airport's revenue requirement significantly. These changes will impact revenue recovery for the operator.

India's research and development spending lags behind global leaders. A Niti Aayog report highlights funding issues and bureaucratic delays. The report suggests increasing R&D investment to 2% of GDP. It also calls for streamlining processes and boosting manpower. Reforms aim to enhance India's research landscape and competitiveness.

Indian shoppers are changing their habits. They are visiting stores less often for everyday items. However, when they do shop, they are spending more money each time. This shows a move away from quick buys towards planned purchases. Categories like biscuits and snacks are now part of deliberate shopping lists. This reflects a more cautious consumer approach.

India's sugar industry seeks permission for additional exports. This follows a recent ban on overseas shipments. The industry needs to honor existing contracts with international buyers. The government imposed the ban due to concerns over El Nino and rising domestic prices. This move aims to ensure sufficient sugar for local consumption and build buffer stocks for the next year.

Chinese Proverb of the Day highlights the meaning of Women hold up half the sky. The saying emphasizes the essential role women play in society, family life, leadership, and progress. It reflects the belief that the world cannot function or advance without the contributions, strength, and efforts of women. The proverb also promotes the idea of equality, suggesting that women deserve the same recognition, opportunities, and respect as men in every aspect of life.

The Supreme Court has dismissed a public interest litigation. The plea sought to exclude caste enumeration from the population census. A three-member bench stated this falls within the government's policy domain. The court refused to intervene in the matter. The bench noted that governments need such data for welfare measures. The plea was dismissed.

India's warehousing sector shows strong growth in the first quarter of 2026. Leasing activity increased by 15 percent compared to the previous year, reaching 19.3 million square feet across eight major cities. This surge is fueled by demand from manufacturing and third-party logistics firms. Companies are actively enhancing their supply chain networks and distribution capabilities.

A broad measure of public expenditure fell 7.3% from a year ago, accelerating from the 2.5% decrease in March to mark its sharpest decline since October, according to Bloomberg calculations based on Ministry of Finance data released Wednesday. By contrast, broad fiscal revenue rose 2%.

Taiwan has strongly rejected discriminatory remarks made by a local election candidate. The candidate had vowed to ban Indian immigrants from Taiwan. Taiwan's mission in New Delhi stated that the nation cherishes democracy, inclusivity, and diversity. It supports people-to-people exchanges. This reaffirmation comes after the candidate displayed a billboard with his anti-immigrant pledge.

West Bengal will now identify, remove, and deport illegal Bangladeshi immigrants. This policy excludes Hindu refugees and others eligible under the Citizenship Amendment Act. The state government is also implementing the CAA. Land has been handed over to the Border Security Force for fencing. This move aims to enhance national security and border management.

The Supreme Court has flagged alcohol sold in tetra packs and sachets as deceptive. Notices have been issued to the government and manufacturers like Globus Spirits and Wave Distilleries. The court is concerned about inconspicuous packaging that may resemble fruit juices. This packaging lacks clear warnings and potentially targets underage consumers. The next hearing is scheduled for August 10.

Tangkhul Naga villagers sought security from Manipur's Chief Minister following attacks. They requested police forces and essential supplies. The United Naga Council is asking for details on missing hostages. Meanwhile, the Kuki Inpi Manipur extended a shutdown in Kuki-Zo areas. Peace remains a key focus for the state.

Iran, which has attacked vessels to assert control over the Strait, has expanded its definition of the waterway to include the UAE's Gulf of Oman coastline. The U.S. has imposed its own blockade on Iranian ports and attempted an aborted operation to reopen the chokepoint.

A car caught fire and exploded near New York's Charging Bull statue on May 19. Flames engulfed the vehicle, sending smoke across the Financial District. Pedestrians fled the scene before the blast. Emergency responders arrived quickly and secured the area. Firefighters worked to put out the fire. The cause of the incident is under investigation.