The Economic Times

Prateek Yadav news: Prateek Yadav, stepbrother of Akhilesh Yadav and husband of BJP leader Aparna Yadav, passed away at 38 in Lucknow. Known for his love of animals and passion for fitness, his recent Instagram posts showcased his adventurous spirit and emotional connection to his pet. The cause of death is under investigation.

India and Japan have strengthened economic ties. A key dialogue focused on industrial and technological cooperation. Five sectors were prioritised: critical minerals, semiconductors, ICT, clean energy, and pharmaceuticals. Both nations aim to build resilient supply chains. Discussions also covered defense, trade, and energy security.

Petrol, Diesel price today: Amidst West Asia crisis, petrol and diesel prices remain unchanged, but Petroleum Minister Hardeep Singh Puri warned of daily losses exceeding Rs 1,000 crore for oil companies. He indicated that the government may have to make a decision on price hikes soon, as retailers face significant financial pressure.

The CBI is now investigating the NEET-UG 2026 paper leak. Rajasthan Police previously claimed a paper leak mafia sold leaked questions. The network allegedly spanned multiple states. The CBI has registered a case and is questioning suspects. Investigators found matches between a guess paper and the actual exam questions.

Prime Minister Narendra Modi has ordered a significant cut in his official carcade. The Special Protection Group is reducing convoy vehicles by nearly half. He also wants more electric vehicles used. This move signals a broader push for austerity across government ministries. Officials are now discussing ways to cut fuel use, including promoting metro travel and carpooling.

Gold rates today: India has significantly boosted import duties on gold and silver to 15% from 6% to curb overseas purchases and protect foreign exchange reserves. In Delhi, the rates of 24k, 22k and 18k gold stand at Rs 1,54,140, Rs 1,41,310 and Rs 1,15650, respectively. The rates in Mumbai are Rs 1,53,990, Rs 1,41,160 and Rs 1,15,650.

President Donald Trump's ambitious Golden Dome missile defense system is projected to cost a staggering USD 1.2 trillion over two decades. This futuristic plan, intended to protect America, is significantly more expensive than initially announced. The Congressional Budget Office analysis highlights the substantial financial commitment required for this advanced defense initiative.

Nvidia CEO Jensen Huang will accompany President Donald Trump on his upcoming visit to China, joining over a dozen other U.S. executives. This inclusion comes despite Nvidia's powerful H200 chips not yet being sold to China due to difficulties obtaining government permission. The White House has not yet commented on the matter.

S&P Global Ratings said India is coping with global financial pressures better than headline data indicate, adding that concerns over foreign investment outflows are overstated. The agency said India has enough buffers to manage a wider current-account deficit caused by rising oil prices.

Quote of the day by Friedrich Nietzsche: Friedrich Nietzsche's philosophy posits that interpretation, not objective truth, shapes our understanding of reality. What prevails as truth is often a function of power, with dominant narratives molded by societal institutions and authorities. This perspective encourages critical thinking about how versions of reality are framed and accepted.

Kuwait alleges Iran attempted an attack on Bubiyan Island. This incident occurs as U.S. President Trump visits China. Tensions are high in the Persian Gulf. Israel has deployed air defense to the UAE. The Strait of Hormuz remains a critical point of contention. Norway reports stranded vessels due to shipping disruptions.

India has contracted diammonium phosphate (DAP) fertilizer at prices nearly 40% higher than pre-war levels as the Middle East conflict disrupts supplies and lifts global prices. Indian Potash Ltd. agreed to buy about 1.35 million tons of DAP for delivery on the west and east coasts at around $930-$935 per ton, exceeding the 1.2 million tons sought in last weeks tender.

A federal appeals court has put a hold on a ruling that found President Donald Trump's global tariffs unlawful. This means importers will continue to pay the 10% tariffs for now. The court is considering the administration's request to keep collecting the levies while it appeals the decision. This pause creates uncertainty for businesses.

President Donald Trump is in Beijing for a state visit with Chinese leader Xi Jinping. The leaders will discuss trade, aiming to sign deals for American food and aircraft. They will also address differences through a new Board of Trade. The status of Taiwan and potential weapons sales are major topics. Trump expressed optimism for a strong U.S.

S&P 500, Nasdaq and Dow Jones on May 12: US stocks closed mixed as tech momentum cooled amid rising energy prices and fresh inflation data. The S&P 500 and Nasdaq dipped, while the Dow Jones edged higher. West Texas Intermediate crude jumped on US-Iran tensions, and April's CPI rose to its highest level since May 2023, signaling continued consumer pressure.

Airports tariff regulator AERA has set the User Development Fee (UDF) for Noida International Airport at Rs 490 for departing domestic and Rs 980 for international passengers for the 2026-27 period. These rates are comparable to national averages and aim to encourage airline expansion. The airport, set to begin operations on June 15, will see gradual UDF increases through 2031.

Donald Trump is scheduled to arrive in Beijing on Wednesday ahead of his meetings on Thursday and Friday. Trup and Xi Jinping are due to visit the Temple of Heaven on Thursday, according to the White House.

Quote of the day by Aristotle: The ancient Greek philosopher, defined love as a single soul inhabiting two bodies. This concept highlights deep emotional unity and understanding between individuals. It emphasizes that true love allows for individuality while fostering a strong, shared connection.

India has raised import duties on gold and silver to 15% from 6% to curb imports and reduce pressure on foreign exchange reserves. The new structure includes a 10% basic customs duty and a 5% Agriculture Infrastructure and Development Cess.

US President Donald Trump told the media that among the several items for discussions with China, trade would be a key focus area.

Officials at both the finance ministry and Niti Aayog are identifying economic opportunities presented by the Iran conflict, as well as gauging the impact of the surge in global oil prices on the economy under different price bands. Niti Aayog will likely draw up a report on matter.

While consumer demand had started improving over the past four months after a prolonged slowdown, rising crude oil prices, supply disruptions and Prime Minister Narendra Modis recent call for austerity could threaten to derail that recovery, said executives and analysts. The impact is expected to be sharpest in electronics.

Jason Collins, the former NBA center, has died at 47 after battling glioblastoma. Collins, who came out in 2013, was celebrated for his courage and advocacy for inclusivity. His family expressed gratitude for the support received during his treatment.

Chinese proverb of the day: Excessive talking without clear purpose often yields no real progress, much like climbing a tree to catch fish. This Chinese proverb emphasizes that effective communication requires aligning words with meaningful action and purposeful direction. True achievement stems from efficient effort matched to specific goals, not just prolonged discussions.

Brandon Clarke cause of death : Memphis Grizzlies forward Brandon Clarke, 29, has died, with authorities investigating a possible overdose after responding to an emergency call in Los Angeles. Drug paraphernalia was reportedly found at the scene. Clarke's agency and the Grizzlies organization have expressed profound grief over his passing.

Quote of the day by Eckhart Tolle: Eckhart Tolle's quote emphasizes living in the present moment, as it's all we truly have. By focusing on the Now, individuals can reduce stress, improve emotional balance, and find greater clarity and peace. This mindfulness approach, popularized by Tolle, encourages appreciating simple moments and taking responsibility for one's experience.

Jewish Proverb of the Day: A timeless Jewish proverb emphasizes that acquiring wisdom and understanding is far more valuable than material wealth like gold and silver. This ancient teaching remains relevant today, guiding individuals to prioritize inner riches, ethical decision-making, and meaningful relationships over mere financial gain for a more fulfilling life.

US Treasury yields today: Global bond markets are experiencing unease. Rising oil prices and persistent inflation are reshaping interest rate expectations in the US and globally. US Treasury yields are climbing as inflation fears intensify. This situation is causing investors to rethink Federal Reserve rate cut possibilities. UK bond markets are also facing pressure.

Air India Flights: Rumors of Air India suspending all international flights until July 2026 are misleading. The airline has temporarily reduced services on select routes due to rising costs and geopolitical tensions, not a complete cancellation. Flights to major global destinations continue, though some long-haul sectors face reduced frequency.

Consumers are rushing to buy bridal jewellery across India. This surge follows Prime Minister Narendra Modi's call for austerity measures. Jewellers report a significant increase in sales. Customers fear higher import duties or GST on gold. Many are advancing purchases planned for later in the year. This buying frenzy is driven by uncertainty and cultural significance of gold.

The famous quote Big things have small beginnings from Lawrence of Arabia highlights the importance of patience, persistence, and believing in gradual progress. The saying reminds people that major achievements rarely happen overnight and often begin with small actions, simple ideas, or uncertain first steps. It encourages individuals not to underestimate humble beginnings or feel discouraged by slow progress.

Airlines are experiencing weak forward bookings and muted growth plans due to high airfares and a weaker rupee, following a call to postpone foreign travel. While large-scale cancellations haven't occurred, the focus is shifting towards boosting domestic tourism and its economic benefits.

Rani Kapur has turned to the Supreme Court in an effort to block Priya Kapur from disrupting the RK Family Trust along with five affiliated businesses. Her plea comes just in time for a mediation process orchestrated by the court. Rani claims Priya is attempting an unlawful takeover of family resources.

The statistics ministry has adjusted the release date for provisional GDP estimates and fourth-quarter data to June 7 annually, moving from the last working day of May. This change, driven by data availability delays, will see FY26 provisional GDP and Q4FY26 data released on June 5.

India has launched its significant Bharat Maritime Insurance Pool. The initiative aims to bolster domestic maritime trade by reducing dependence on foreign insurers. The pool offers a substantial sovereign guarantee, ensuring continuous insurance coverage for vessels. This move provides crucial assurance for India's growing maritime sector. The first insurance covers have now been issued to key entities.

Rahul Gandhi convened a meeting with the Kerala Congress leadership to navigate the party's chief ministerial options. During the discussion, he sought valuable feedback on key candidates, spotlighting the dynamics of recent public advocacy. Leaders expressed their inclinations toward KC Venugopal, VD Satheesan, and Ramesh Chennithala, while the Indian Union Muslim League is preparing to contribute their perspective.

A major private hospital group warns of a crisis for advanced cancer patients under the Central Government Health Scheme. A reimbursement cap on life-saving immunotherapy drugs is creating financial strain for hospitals. This policy threatens patient access to essential treatments. The association has identified nine specific drugs that are now out of reach for many beneficiaries.

New research indicates that stronger grip strength and the ability to easily stand from a chair are powerful predictors of a longer, healthier life for older women. A study found that greater muscle strength was linked to significantly lower mortality risk, even when accounting for physical activity and other health factors.

Indian banks foresee robust corporate loan growth this fiscal year. Demand is surging from key sectors including renewable energy, infrastructure, and manufacturing. Major lenders like SBI and Bank of Baroda report strong loan pipelines. This expansion signals a positive outlook for business lending across the country. However, banks face liquidity challenges in sustaining this growth.

NEET-UG 2026 paper leak: Despite recommendations from the K Radhakrishnan Committee following the 2024 NEET-UG crisis, the National Testing Agency (NTA) faces renewed scrutiny over alleged paper leaks for NEET-UG 2026. Basic security measures like functional CCTV surveillance remain a challenge, raising concerns about the implementation of proposed reforms.

Vodafone Idea's board will meet on May 16 to discuss a significant fundraising plan, aiming to secure fresh capital through equity and warrants. This move is crucial for the debt-laden telco to strengthen its financial position, fund network upgrades, and compete effectively against rivals.

Renewable energy and power ministries will convene Wednesday to address industry concerns regarding the deviation settlement mechanism and curtailment of green power. Stricter grid compliance rules have raised viability issues for renewable energy projects, prompting ongoing discussions and government examination of these critical matters.

In a disconcerting turn of events, the National Testing Agency finds itself embroiled in fresh controversy following serious allegations of examination paper leaks. This development echoes past challenges faced in 2024 and multiple blunders in 2026, including disruptive power failures and incorrect answer keys.

Canara Bank saw a 10% dip in net profit last quarter, mainly due to treasury losses. The bank is now prioritizing core income to maintain its net interest margins. Advances are expected to grow between 11-12% this year, while deposit growth is projected at 9-10%. Asset quality remains strong with a low slippage ratio.