The Economic Times

Heavy rainfall has caused district administrations to close schools up to Class 12. Many school buses had already begun their morning routes after the announcement. The India Meteorological Department issued a heavy rainfall alert for many Uttar Pradesh districts. Authorities in Mathura and Hathras also declared school holidays due to weather. Residents are urged to follow advisories and avoid unnecessary travel.

Iran's chief negotiator declared the Strait of Hormuz will open under Iranian arrangements. This statement follows retaliatory strikes exchanged between Tehran and Washington in the region. Mohammad Bagher Ghalibaf warned the United States about consequences for its actions. He emphasized that bullying and broken promises will not go unpunished. Ghalibaf clearly stated that any strike would be met with a reciprocal strike.

Heavy rains lashed Delhi and NCR early Thursday, bringing relief from humidity. Waterlogging occurred in several low-lying areas, affecting the morning commute. The India Meteorological Department issued an Orange Alert for Delhi and a Red Alert for some NCR parts. Forecasts predict continued rainfall and thunderstorms through July 11. Residents are advised to remain alert for disruptions and plan travel accordingly.

Prime Minister Narendra Modi pitched India and Australia as trusted partners. He called for deeper cooperation in trade, investment, and technology. Bilateral trade ties have strengthened significantly in recent years. India offers substantial financial support for emerging technology sectors. The nation is also preparing an ecosystem for clean energy sources.

Heavy rains lashed Delhi, Noida, and Gurugram, bringing relief from humidity. Waterlogging affected traffic movement and caused flight delays across the region. The India Meteorological Department issued an Orange Alert for Delhi and surrounding areas. Monsoon showers also intensified across North India, impacting other cities. Residents experienced much-needed relief from the recent sweltering heat.

Several U.S. states are preparing to sue Paramount over its Warner Bros. Discovery acquisition. California is leading the investigation into potential competition law violations. This merger faces opposition from Hollywood actors and theater owners fearing job losses. Paramount argues the combination will help it compete for audiences and talent. A lawsuit could delay the deal and increase Paramount's significant debt burden.

President Trump defended recent US military strikes against Iran. These actions were a direct response to Iran's reported bombing of commercial ships. He warned Tehran of significantly harsher consequences for any future attacks. The strikes mark a sharp escalation in the conflict near the Strait of Hormuz. This follows indications that diplomatic efforts between Washington and Tehran have collapsed.

Customs duty concessions on electronics manufacturing parts are extended until March 2029. This move supports investments in battery cell manufacturing and advanced electronics assembly. Lithium-ion battery machinery now has expanded eligibility for concessional customs duty. Display assembly components for automotive and medical uses also receive duty relief. Wireless charging components for mobile phones are similarly granted customs duty concessions.

US President Trump faces challenges exiting the Iran war after renewed attacks. A faltering ceasefire highlights difficulties in forging a comprehensive peace deal. Escalation risks full-scale war, while backing down empowers Iran's leverage. Analysts believe Trump is in a difficult position with few gains. The situation suggests managed instability with recurring violence ahead.

Prime Minister Narendra Modi met Australian Prime Minister Anthony Albanese in Melbourne. He was welcomed by the Indian community with cultural performances. The Australian-India Orchestra performed 'Maa Tujhe Salaam' for the Prime Minister. Modi also witnessed a unique musical performance featuring the Didgeridoo and Tabla. Discussions will focus on strengthening bilateral cooperation across various sectors.

From emotional family stories to gripping crime dramas and adventurous fantasy, this week's releases offer plenty of entertainment across genres. Netflix dominates the streaming calendar with multiple new originals, while Apple TV+ adds another chapter to one of its most popular series. Whether you're planning a weekend binge or a movie outing, these titles are worth keeping on your watchlist. Read on to know when and where to watch them online.

Rescuers found wreckage of a cargo plane off Karachi's coast. The aircraft had reported a navigation system issue before losing contact. Flight data showed sharp altitude changes before a steep final descent. Efforts are underway to locate the five crew members on board. The investigation into the crash is now proceeding.

Kuwait's military announced on Thursday that their air defense systems were actively engaged, intercepting what they described as hostile missile and drone attacks. The army's General Staff confirmed that any audible explosions were a direct result of these defensive actions, though the source of the attacks remained unspecified in their public statement.

United States forces conducted new airstrikes targeting Iran early Thursday. Missile alerts sounded in Bahrain and Qatar following the American military action. Iran had launched attacks on Bahrain and Kuwait earlier in response. These exchanges have raised fears of a renewed conflict in the region. Negotiations for a permanent peace deal continue amid escalating tensions.

UK insurer Aviva Plc is set to fully own its Indian life insurance venture. This move follows India's recent policy allowing total foreign ownership in the sector. Aviva will buy the remaining 26% stake from its partner, Dabur Invest Corp. Full ownership offers greater strategic flexibility and faster decision-making for business expansion. The transaction marks the first deal under the government's liberalized foreign ownership policy.

Tata Sons chairman N Chandrasekaran is setting up an interim management committee for Air India. The airline faces a delay in appointing a new chief executive officer. Pradeep Singh Kharola joins the committee to streamline operations and improve execution. Air India's revenue doubled, but losses after tax significantly widened last year. The airline continues to navigate industry-wide disruptions and elevated fuel prices.

Quote of the Day by Gary Cooper: Gary Cooper's quote highlights life's universal lessons on resilience and humility. It reminds us that no one is invincible and setbacks are natural. Failure should be viewed as an opportunity for growth and learning. The actor's words encourage perseverance and courage in overcoming obstacles. This timeless wisdom remains relevant in today's competitive world.

Life advice by John F. Kennedy: John F. Kennedy emphasized that change is life's constant law. He believed looking only to the past or present misses the future. Embracing new ideas and experiences aids adaptation and personal growth. This forward-looking mindset is crucial for achieving lasting success. Kennedy, the 35th US president, served from 1961 to 1963.

The idiom 'walking on eggshells' describes extreme caution in conversations. This phrase vividly captures the feeling of navigating tense relationships and situations. It signifies being careful to avoid upsetting or angering someone. This expression is commonly used in various personal and professional contexts. Understanding this idiom highlights the importance of open and respectful communication.

Bette Davis quote highlights happiness as a byproduct of balance. Chasing happiness at any cost can lead to emptiness and regret. Lasting joy comes from appreciating life's journey and maintaining perspective. Davis, a celebrated American actress, had a career spanning over fifty years.

Quote of the Day by Nikola Tesla: Nikola Tesla's famous prediction, In the twenty-first century, the robot will take the place which slave labor occupied in ancient civilization, continues to spark discussions about artificial intelligence, robotics and the future of work. Spoken in 1935, the quote reflects Tesla's belief that machines would eventually take over repetitive labour, allowing people to focus on creativity, learning and innovation rather than physical toil.

Excessive criticism can significantly harm creativity and individual initiative. A strong wind can extinguish a torch, symbolizing how too much negativity destroys potential. People are emotionally fragile and constant fault-finding damages their spirit. This excessive pressure can ruin opportunities and personal well-being. Such relentless judgment ultimately kills productivity and dampens ambition.

Robert Frost's quote highlights home as a place of unconditional acceptance. This timeless message emphasizes belonging and genuine relationships over achievements. Frost's early life involved challenges before his celebrated literary career. His enduring words offer comfort and emotional security in a changing world. The poet's wisdom remains relevant for finding true happiness and connection.

Quote of the day by Tiger Woods highlights the importance of believing in yourself before taking on any challenge. The quote explains that confidence begins long before the competition starts. Tiger Woods says success requires preparation, commitment and the belief that victory is possible. His words continue to inspire athletes, professionals, students and anyone working toward personal and professional goals while facing setbacks with determination.

Today's Quote of the Day by Aryabhata reveals a surprising truth that challenged the world's understanding of the universe more than 1,500 years ago. His timeless words on perspective and motion continue to inspire curious minds, proving that great discoveries often begin by questioning what seems obvious.

The Employees' Provident Fund Organisation board will meet July 25 to approve key provisions. This meeting will ratify crucial elements of the new centralised IT project. The CITES project aims to significantly enhance services for millions of subscribers. Simplified rules for partial withdrawals and automatic PF transfers are expected. Easier access to member information will also be a key benefit.

The Employees' Provident Fund Organisation will auto-process 8.25% interest for FY26 by July 15. This credit will be applied to nearly 340 million members' accounts. A new CITES 2.01 member portal will also be launched simultaneously. The organization has also raised the auto-settlement limit for advance claims to 5 lakh. This new system aims to provide a unified view of member accounts and services.

India closely monitors West Asia maritime tensions following recent ship attacks. No Indian-flagged vessels were among those recently attacked near the Strait of Hormuz. Vessel movement through the Strait of Hormuz has once again been restricted by authorities. A decision on reissuing advisories for seafarers to West Asia is pending. The Directorate General of Shipping continues its 24x7 grievance redressal mechanism.

Private banks are expected to show stronger profit growth than public sector banks this quarter. Analysts predict private lenders' profits will climb ten percent year-on-year. Balance sheet growth also favors private banks, with higher deposit expansion. However, public sector banks led in loan book expansion during the June quarter. Investor focus will remain on individual bank performance and execution.

Improved July rainfall has narrowed the country's deficit to twenty-four percent. This development raises hopes for faster kharif sowing across several regions. However, overall sowing still trails last year's pace significantly. Government plans include contingency measures and a national seed reserve. Farmers are advised to shift to short-duration, less water-intensive crops.

Axis Bank has seen three senior executives resign from their positions. These departures add to a significant reshuffling occurring within private sector lenders. Anil Agarwal and Vikas Shinde, long-serving executives, have left the bank. Jimmy Tavadia, group head of trading, also resigned from his role. These changes coincide with the lender reorganizing key corporate banking positions.

Life insurers saw a 16.6% rise in new business premium during the April-June quarter. Private sector firms expanded faster than LIC, driven by regular premium products. Regular premium collections grew nearly twenty percent year-on-year, while single premium business increased. SBI Life Insurance emerged as the fastest-growing player among listed companies. Private insurers continue gaining market share while LIC retains its dominant position.

The Central Board of Direct Taxes has granted income-tax exemption to NCCL's Core Settlement Guarantee Fund. This tax benefit will continue for assessment years 2019-20 through 2026-27. The exemption ensures continued tax relief under the new Income-Tax Act provisions. This relief remains available as long as the fund files its income-tax returns. The notification removes uncertainty over the tax treatment of this important market safeguard.

Credit cards now hold 38% of unsecured credit, down from 56% in 2016. Small personal loans under fifty thousand rupees have gained significant market share. Card balances remain stable at fifteen to sixteen percent of total consumption credit. Delinquency data shows risk spilling across various credit products. Occasional card users exhibit low delinquency rates across their credit portfolios.

The Centre plans to invite bids for national highway projects using a new toll-cum-annuity model. This hybrid approach combines build-operate-transfer and hybrid annuity model features. The revised agreement aims to optimise risk allocation and boost investor confidence significantly. The government will provide upfront financial support for certain projects with viability gap funding. This initiative seeks to revive private sector participation in infrastructure development.

Indian banks are experiencing a slowdown in special foreign currency deposit collection. Rising overseas borrowing costs are impacting banks' leverage offerings to clients. High-net-worth individuals seek double-digit dollar returns, assessing tax implications. Banks are recalibrating deposit mobilization strategies after recent guideline releases. Investor expectations for higher spreads are increasing due to Indian supply.

Vehicles running on fuels other than petrol and diesel made up a record 40% of all passenger vehicles sold in June, FADA data released earlier this week showed.

The coal ministry has invited applications for a 37,500 crore scheme. This initiative promotes surface coal and lignite gasification projects across India. The government aims to convert domestic coal into higher-value fuels and chemicals. Eligible developers can receive financial support for commercial-scale projects. Applications are due by September 7, with a pre-application conference on July 20.

The National Investigation Agency conducted searches at twenty locations across multiple states. These searches are connected to a petrol bomb attack on an RSS office in Ranchi. Three men arrested in the attack were linked to the ISI-funded Tehreek-e-Taliban Hindustan. Officials stated the accused were radicalized in Dubai and communicated with handlers. They filmed the attack and sent the video to their handler after the incident.

The government plans to act against drugmakers with unlisted products. This move aims to stop the sale of irrational fixed-dose combinations. Expert committees suggest unapproved formulations could face license cancellation. Previous government directions failed to ensure lasting compliance with regulations. A new comprehensive framework is now being developed to resolve this issue.

US authorities have charged jailed gangster Lawrence Bishnoi and Goldy Brar for ordering Nijjar's assassination. This action is part of a wider crackdown on transnational organized crime groups. The probe focused on crime syndicates impacting the Indian diaspora globally. Nijjar's killing had previously strained India-Canada relations significantly. Bishnoi's syndicate reportedly has hundreds of operatives across India and abroad.

NATO Secretary General Mark Rutte stated disputes among leaders showed alliance strength. He believes these disagreements offer a lesson for Russian President Vladimir Putin. Rutte sees no need to alter his approach to dealing with President Trump. He emphasised that democracies can openly disagree and then reunite. This ability to converge around common purpose distinguishes democracies from other nations.

The Army is procuring hundreds of one-way attack drones for 1500 crore. Tata Advanced Systems Limited emerged as the lowest bidder for this significant procurement. Supplies are expected to commence within six months of contract signing. These drones are designed to be resistant to jamming and spoofing. Additional orders for similar systems are anticipated in the coming months.

Novo Nordisk's weight-loss drugs are regaining market share from Indian generics. Innovator brands show steady month-on-month sales growth, unlike generics. Eli Lilly's tirzepatide brands also experienced sales growth in the recent period. Doctors prefer innovator semaglutide due to similar pricing and pioneering status. The crowded generic market is causing brands to lose their individual market share.

Dutch prosecutors have initiated criminal proceedings against Tata Steel IJmuiden. The company faces charges for illegally releasing harmful substances into the environment. This action follows a 2022 investigation prompted by a complaint from over 800 individuals. Authorities allege failures in maintenance and unauthorized operations at the steel plant. Tata Steel acknowledges concerns and is implementing improvement measures to minimize issues.

NATO leaders concluded their summit in Ankara, with no firm date set for the next meeting. The upcoming summit will be hosted by Albania, though the exact timing remains undecided. Some alliance members prefer to reduce the frequency of annual summits. This shift comes after a recent summit which included US President Donald Trump. Albania's defense spending was also a factor in delaying the date announcement.

A Lashkar-e-Taiba terrorist was killed in Shopian on Wednesday. Security forces launched an operation in Meemandar orchards after spotting suspects. The slain terrorist, Zakir Ahmad Ganie, joined the LeT's offshoot in 2023. Forces continue searching for another suspect named Latif in the area. Three over-ground workers were also apprehended in Anantnag.

Quote of the day by Nikola Tesla: One's salvation could only be brought about through his own efforts reminds people that lasting success begins with personal responsibility and self-discipline. The quote comes from Tesla's autobiography My Inventions and reflects his own journey of overcoming challenges. It continues to inspire people to take accountability, build resilience, pursue innovation, and achieve personal success through consistent effort rather than depending on others.

Global nuclear power capacity is projected to increase by forty-four percent over the next decade. This growth is driven by rising electricity demand and significant reactor construction in China and India. China is on track to become the world's largest nuclear nation by the end of this decade. Efforts to combat climate change and increasing social acceptance are also boosting nuclear energy.