The Economic Times

US President Donald Trump has extended a waiver allowing foreign-flagged ships to transport oil and other commodities between US ports for 90 days, while tightening the rules amid opposition from shipbuilders. The revised waiver requires individual voyages to receive case-by-case approval, as the administration seeks to ease fuel transportation bottlenecks.

An IAS officer noticed a young girl playing inside Bilaspur Central Jail. He inquired about her circumstances and discovered her wish to attend school. Jain International School then offered support for her education and accommodation. This intervention allowed Khushi to experience a life beyond prison walls. Her story highlights the impact of adult attention on a child's future.

A US federal court dismissed criminal charges against Gautam Adani and two executives. The Justice Department requested this dismissal with prejudice, closing the case. This prosecution had linked the Adani Group to solar-power contracts in India. Prosecutors had alleged bribery and misleading investors about misconduct. The court's decision ends a significant legal challenge for the conglomerate.

Brookfield India REIT and NCW's Prime Offices Fund will jointly acquire a Mumbai office space. This significant transaction involves an enterprise value of Rs 1,700 crore for the property. The acquisition marks Prime Offices Fund's initial entry into the Mumbai real estate market. Brookfield will continue to manage the acquired office space after the deal. This move strengthens Brookfield India REIT's portfolio and presence in Mumbai.

Quick commerce platforms anticipate hiring thirty to forty percent more temporary workers this festive season. This surge reflects increased product availability and consumer preference for instant deliveries. Tech-savvy individuals are particularly sought after for specialized operational roles. Staffing firms project around one hundred thousand temporary jobs, with some estimates reaching three hundred thousand. Wages are expected to rise between twelve and twenty-two percent based on work loc

Britain is now experiencing a flash drought caused by a combination of very low rainfall and higher temperatures. Rivers, reservoirs, and groundwater levels continue to decline while the continued hot and dry conditions are increasing the risk of wildfires, the government said.

Agatha Christies witty take on marriage, Marry while you're young, because as you get older you become wiser, offers a humorous look at how age and experience can change the way people approach relationships. The quote also connects with themes seen in Christies writing, where human behaviour, trust and relationships often played an important role.

ICICI Prudential AMC's board approved acquiring ICICI Securities' PMS business. This acquisition will broaden the company's existing portfolio management offerings. The PMS business caters to high net worth individuals with customized investment solutions. Assets under management stood at 2,910 crore as of March 31, 2026. The transaction is expected to be completed within a year after approvals.

Banks have disbursed merely seventeen percent of the credit guarantee scheme funds. Loan sanctions remain slow as banks show caution with smaller microfinance institutions. Larger microfinance companies are hesitant to borrow under the government's guarantee program. About one thousand crore rupees went to small and medium-sized microfinance entities.

Five city gas distributors led national compressed biogas sales in 2025-26. The overall blending ratio reached 0.92%, nearing the government's one percent mandate. Torrent Gas and BPCL spearheaded efforts to blend biogas with natural gas supplies. India currently operates 207 functional compressed biogas plants to boost output. A new scheme aims to strengthen the biogas program through assured demand and stable pricing.

The Bombay High Court ordered Amazon to transfer expired goods to the FDA. This action follows the agency's earlier reprimand for its drastic warehouse measures. The court also mandated the FDA to file its affidavit by August 27. Amazon had challenged the suspension of its warehouse license. This directive ensures scientific disposal of perishable and expired items.

Sun Pharma recalled eleven eyecare products after an eye specialists' body issued a safety alert. This alert warned about bacterial contamination found in certain batches of their Predmet eyedrop medicine. The All India Ophthalmological Society stressed patient safety due to potential serious ocular infection risks. Sun Pharma stated the recall was a precautionary measure while investigations continued. The company assured that other products were manufactured at different qualified sites.

India and the Southern African Customs Union are on the verge of finalizing terms for a significant trade pact. This agreement aims to set the groundwork for future negotiations involving market access and other sensitive subjects. The SACU, comprising South Africa and four additional member countries, has been in discussions for this preferential trade agreement since 2008, though past talks faced hurdles.

The ISL's media rights value has fallen from 275 crore a year paid by JioStar to 8.6 crore offered by FanCode for the 2025-26 season. JioStar had bid 5 crore for the property. FanCode and Sony Sports Network broadcast the league after intervention by the sports ministry helped facilitate the staging of the season, with the organisational burden falling disproportionately on the clubs.

The unemployment landscape in India shifted significantly in the April-June quarter, rising to 5.4%. Notably, rural areas faced increasing joblessness, with urban unemployment also experiencing a slight uptick. Female unemployment hit 5.7%, while males followed suit. A concerning youth unemployment rate of 15.9% emerged, especially among young women. Chhattisgarh stood out with a troubling 12.8% unemployment rate.

Indian banks have sought RBI approval to spread mark-to-market losses on investment portfolios across the remaining three quarters, citing bond-market volatility triggered by the West Asia crisis. Rising government bond yields have weighed sharply on banks treasury income.

The Centre has proposed limiting states powers to impose taxes, cess and other levies on mineral rights and mineral-bearing land, seeking a more uniform fiscal framework and lower costs for miners following a 2024 Supreme Court ruling allowing additional state taxes.

The Supreme Court suggested forming special courts for Manipur violence cases. These courts would exclusively handle investigations by the CBI and NIA. The Gauhati High Court Chief Justice was urged to establish these separate courts. The court also directed security agencies to ensure uninterrupted investigations by federal agencies. Details of cases will be shared with affected families and their lawyers.

Finance Minister Nirmala Sitharaman said UPI transactions will remain free for consumers, with most low-value payments also staying free. Any future MDR would apply only to limited merchant transactions above a prescribed threshold, with its scope to be decided later.

The corporate affairs ministry plans to implement an evidence-based methodology for the upcoming Digital Competition Bill. A thorough market analysis is currently being conducted to establish benchmarks for major tech firms. Systemically impactful digital entities will be subjected to preventive regulations enforced by the antitrust authority. This proposed legislation aims to curb undesirable practices proactively. The ministry's responses contributed to a parliamentary committee's findings.

India Independence Day 2026: Youth power will be a central theme at the upcoming Independence Day celebrations. Young achievers and innovators will be honored as special guests at the event. The national song 'Vande Mataram' will be sung from the Red Fort ramparts for the first time. Military bands will perform across India, and flower petals will be showered. Approximately five thousand special guests, including students, have been invited to the function.

A US judge dismissed criminal charges against Indian billionaire Gautam Adani. The Justice Department decided to abandon the fraud and bribery case against him. Adani denied any agreement was made for the dismissal of the indictment. He had previously pledged a ten billion dollar investment in the United States. The Adani Group has consistently denied any wrongdoing in this matter.

Quote of the Day by Kate Hudson: Kate Hudsons quote, Being active and good health is the most important beauty regime because that will affect you for the rest of your life, explores the importance of physical activity, healthy living, self-care, and long-term well-being. The quote suggests that true beauty should go beyond appearance and that maintaining good health can support confidence, energy, and a better quality of life for years to come.

West Bengal Chief Minister Suvendu Adhikari suspended an investigating officer and transferred an inspector. He visited the family of a Trinamool worker who died in custody. The Chief Minister ordered a magisterial inquiry into the custodial death. He provided compensation and a job to the deceased worker's wife. Adhikari admitted to police negligence while awaiting post-mortem results.

The Supreme Court voiced serious concern regarding escalating drug abuse and trafficking nationwide. Justices noted the gravity of the situation and its widespread impact across the country. A petition seeking reforms in enforcement measures under the NDPS Act was heard by the bench. The plea highlights drug abuse's threat to youth health and national security. The court issued notices to the Centre and state governments for their response.

Indias payments network is shifting towards software-based channels, with UPI QR codes and online card transactions growing while ATMs and other hardware-based infrastructure stagnate or decline. UPI QR codes rose 16.9% year-on-year to 792.6 million in June.

Eight people from Assam were injured in firing from Arunachal Pradesh on Monday. The incident occurred along the inter-state border due to an alleged land encroachment dispute. Injured individuals were admitted to local hospitals, with some in critical condition. Assam's chief minister stated the matter is almost resolved and is being addressed. Both states have previously agreed to resolve their long-standing border disputes.

Iran's Supreme Leader appointed six senior commanders to key military and IRGC posts. Ali Abdollahi became Chief of Staff while Kioumars Heydari is Deputy Chief. Ahmad Vahidi now commands the IRGC, and Mostafa Izadi is his deputy. Ali Azmaei leads the IRGC Navy, and Hossein Taeb heads the Basij. These appointments follow recent news about the Supreme Leader's health and other personnel changes.

The Telecom Regulatory Authority of India has rolled out a new numbering system with the 1601 series, aimed at service and transactional calls from utility companies. This initiative also includes courier and logistics services, ensuring these communications are distinct from other sectors. The goal is to safeguard essential financial and governmental transactions, while the 1600 series will still be designated for BFSI and government communications.

NBFCs outpaced banks in retail lending growth in June, with loans rising over 20% year-on-year compared with 16% for banks. Growth was driven by jewellery and consumer durable loans as banks remained cautious in unsecured and low-ticket lending segments.

Hindustan Copper Limited announced a substantial profit increase for the first quarter. Total income also saw a significant rise compared to the previous year. Rising London Metal Exchange copper prices offer a positive outlook for the company. HCL is actively monitoring expansion projects to boost ore production. The company is also progressing with mine reopenings and exploration efforts.

The government said AAI has received a request to waive airport-airline cross-holding restrictions, though the civil aviation ministry has yet to examine it. Any relaxation could attract new airline investment but faces concerns over competition, airport access and potential conflicts of interest.

India is set to ramp up rice utilization for ethanol production this year, amid reduced planting of maize and sugarcane, raising concerns about feedstock availability. Fortunately, the government maintains a healthy stock of rice, offering a safety net. With sugar prices soaring to unprecedented levels due to crop output fears, this strategy aligns with India's ambitious goal of achieving a 20% ethanol blending ratio.

Lightstorm has raised 2,500 crore from IndusInd Bank to build AI-focused fibre infrastructure connecting major data centre clusters across India. The 10-year debt facility will support connectivity between hubs including Mumbai, Chennai and Hyderabad and international AI zones.

Indias medical device industry and healthcare groups have opposed the draft Drugs, Medical Devices and Cosmetics Bill, 2026, arguing that treating medical devices like pharmaceuticals and imposing criminal penalties for regulatory lapses could hurt manufacturing, investment and innovation.

By August 7, farmers have successfully planted Kharif crops at 87.7% of the expected seasonal average. While rainfall deficiencies have mitigated, the focus is now firmly on crop yields. The acreage for critical crops like rice and pulses trails behind last years figures. On a positive note, reservoir water levels have improved significantly following recent rainfall. Nevertheless, the IMD warns of below-normal rainfall for the upcoming monsoon weeks.

Dhamaal 4 has brought Ajay Devgn, Arshad Warsi, Riteish Deshmukh and Jaaved Jaaferi together for another round of treasure-hunt chaos and comedy. The Indra Kumar directorial has been running in theatres since its July 10 release and has made its mark at the box office. Now, as the film completes its theatrical run, fans who missed it in cinemas are waiting to know when they can watch it from home.

At 83, Amitabh Bachchan continues to maintain a demanding work routine, recently revealing that his schedule stretched from 7 am to 7 am during the work on Kaun Banega Crorepati Season 18. His words, commitments are commitments, highlight his long-standing belief in discipline, routine and staying dedicated to work at every stage of life.

Delhi has recorded a sharp increase in H1N1 influenza cases this season. Infections have risen to 1,344 from 229 during the corresponding period last year. Doctors caution against dismissing H1N1 as routine seasonal flu, as it can become serious. Vaccination and basic precautions remain key measures for reducing severe illness. Vulnerable groups should pay close attention to symptoms and seek timely medical care.

Bangladesh requested Sheikh Hasina's extradition from India during a meeting with the Indian High Commissioner. The meeting also covered important bilateral issues and strengthening relations between the two nations. Bangladesh expressed outrage over Hasina's media interaction in New Delhi, calling her a convicted genocider. The prime minister also sought the extradition of suspects in a student leader's murder case.

Quote of the day by Jesus Christ exhorts believers and readers alike to reconsider the relationship between what they have and what they are willing to share. If you want to be perfect is therefore not simply a statement about giving away possessions. It is an invitation to examine the heart, loosen the grip of material attachment and discover whether genuine abundance might be found in generosity.

An Air India A320 encountered severe technical issues, including three hydraulic failures, which led to a sudden loss of about 300 feet in altitude. Teams from France and Airbus are set to aid the Aircraft Accident Investigation Bureau in their inquiry. Some passengers and crew members sustained injuries during the incident, and results from pilot-in-command testing for psychoactive substances are still pending.

Two separate passenger incidents on US flights prompted emergency responses and law enforcement involvement. A United Airlines flight diverted to Milwaukee after a passenger allegedly made a threat. An Alaska Airlines flight returned to the gate in Miami due to disruptive passengers. The FAA has reported over 830 unruly passenger cases this year. Violators face significant civil penalties and potential criminal charges for their actions.

Dilip Buildcon has sold solar and transmission projects valued at Rs. 8,400 crore to Alpha Alternatives. This strategic divestment involves stakes in two special purpose vehicles, Mekhali Power Transmission and DBL Renewable. The transaction will be completed through a phased subscription and closing mechanism. Dilip Buildcon aims to recycle capital and strengthen its balance sheet with this deal.

The experts also highlighted that going forward, the government should decrease ethanol-blended fuel prices to compensate consumers for a drop in efficiency and expenditures incurred due to wear and tear of vehicle components.

Sony Pictures Networks India has unveiled its festive season content slate. This slate includes fiction, reality, movies, regional programming, and live sports. Sony LIV is positioned as the digital home for all SPNI offerings. The lineup features established shows and new homegrown concepts. This diverse content aims to connect with audiences across India.

Karnataka food safety officials inspected 60 three- and five-star Bengaluru hotels, seizing over 1,000 kg of allegedly unsafe, expired or mislabelled products. Notices were issued, some kitchens faced action, and samples from major international food chains were sent for testing.

HDFC Bank reduced its lending rates by five basis points across maturities. Bank of Baroda will increase its three-month lending rate by ten basis points. HDFC's new rates became effective from August seventh for various tenors. Bank of Baroda's revised rate will take effect from August twelfth. The banks are adjusting their marginal cost of funds based lending rates.