The Economic Times

Security forces and Naxalites are engaged in an encounter in Bijapur district, Chhattisgarh. The gunfight began this morning in the forested hills. A joint team of security forces was conducting an anti-Naxalite operation. They received information about Maoist cadres in the area. An exchange of fire is ongoing. More details are expected.

The world is entering what the World Economic Forum (WEF) calls an Age of Competition, marked by intensifying geoeconomic rivalry, rising societal polarization and accelerating technological disruption, according to the Global Risks Report 2026, released ahead of the WEF annual event.

American and Pakistani soldiers have completed joint training in Pakistan. The exercise, named 'Inspired Gambit 2026', focused on infantry skills and counterterrorism tactics. This event marks a strengthening of defence ties between the two nations. The training took place at Pakistan's National Counter-Terrorism Centre. This collaboration highlights renewed engagement between the US and Pakistani defense establishments.

The Maharashtra civic elections 2026 saw the BJP-led Mahayuti alliance achieve a significant victory, securing over 1,800 seats statewide and ending Shiv Sena's long-held control of the BMC. Devendra Fadnavis and the BJP emerged as major winners, while Uddhav Thackeray's Sena and the Congress faced substantial setbacks. The results underscore a shift in urban Maharashtra's political landscape.

Shiv Sena (Uddhav Balasaheb Thackeray) (UBT) on Saturday gave its first reaction following the Brihanmumbai Municipal Corporation (BMC) elections, striking a defiant tone and signalling that the political fight in Maharashtra is far from over and will continue until the Marathi community receives the respect it deserves.

Bob Hawke served as Australia's 23rd Prime Minister. He was known for his charisma and negotiation skills. Hawke guided Australia through major economic changes. These included financial deregulation and floating the Australian dollar. He also focused on social and environmental issues. His leadership left a lasting impact on modern Australia. Hawke remains a popular and influential figure.

India's upcoming Union Budget is expected to boost electric vehicle adoption. Measures will likely focus on strengthening domestic manufacturing and reducing reliance on imports. Incentives could be recalibrated to encourage investment across the EV value chain. This aims to support sustainable transport and conserve foreign exchange.

A 4.1 magnitude earthquake jolted Gujarat's Kutch district early Saturday, causing panic but no reported casualties or damage. The tremor's epicenter was located 55 km north northeast of Khavda. Kutch, situated in a high-risk seismic zone, regularly experiences such events, a reminder of the devastating 2001 earthquake.

This year's Republic Day parade on January 26 will celebrate 150 years of 'Vande Mataram'. The event will highlight India's military might and rich culture. Special guests from various fields will attend. The parade will feature advanced military equipment and cultural displays. The theme 'Vande Mataram' will be central to the celebrations.

Mauni Amavasya 2026 kab hai: This Sunday marks Mauni Amavasya, a significant day for spiritual practices. Devotees will observe silence, perform holy dips, and engage in charity. The day is enhanced by auspicious yogas like Shiva Vas Yoga and Sarvarth Siddhi Yoga. Rituals performed during Brahma Muhurat are highly valued. Prayers for ancestral peace are also a key focus.

US Ambassador Sergio Gor met Reserve Bank of India Governor Sanjay Malhotra. They discussed boosting cooperation between the two nations. A key focus was on new, advanced US technology. Gor also met Tata Companies Chairperson N Chandrasekaran during his India visit. The meetings highlight strengthening ties and technological collaboration.

The posters were displayed by Bharatiya Janata Party (BJP) Yuva Morcha Mumbai president Tajinder Singh Tiwana, who was also elected as a corporator in the civic polls. Large hoardings praising Fadnavis' leadership appeared across the city, reflecting a celebratory mood within the BJP camp following its strong performance in the country's richest civic body.

At 45, Venus Williams is set to become the oldest player in Australian Open women's singles history. She expressed surprise at the record, focusing instead on her comeback and the attitude required in sport. Williams, a seven-time major winner, will face Olga Danilovic in her first-round match.

A tourist bus carrying students and teachers overturned near Thiruvananthapuram. At least 17 people were injured in the accident. The bus was on an industrial visit when it lost control and crashed. Local residents assisted in the rescue efforts. One person sustained serious injuries and was moved to another hospital. An investigation is underway to determine the cause.

The Bharatiya Janata Party has seized control of Mumbai's Brihanmumbai Municipal Corporation, ending decades of Thackeray family rule. This marks a significant political shift in India's financial capital. The BJP-led Mahayuti alliance secured a majority, signaling a new era of governance. Voters favored alignment with national politics over regional identity.

BJP MP Tejasvi Surya linked recent BMC election wins to urban voters' trust in the party's leadership and expressed confidence in similar victories in proposed Greater Bengaluru Authority elections. He also strongly criticized the proposed Bengaluru Metro fare hike as anti-people and unscientific, warning of protests if implemented.

Zimbabwe has bolstered its preparations for the ICC Men's T20 World Cup 2026 by appointing West Indies legend Courtney Walsh as bowling consultant. Walsh, with extensive subcontinent experience, will mentor the team as they aim to perform strongly after missing the previous edition. This strategic inclusion aims to enhance the team's bowling prowess for the upcoming global tournament.

Steve Smith's explosive 41-ball century, including a record 32 runs in one over, powered the Sydney Sixers to a thrilling five-wicket victory over David Warner's Sydney Thunder. Warner's unbeaten 110 had set the Sixers a target of 190. Smith's remarkable innings, featuring nine sixes, stole the show despite Warner's century.

Indian Coast Guard intercepted a Pakistani fishing boat, 'Al-Madina', with nine crew members inside India's Exclusive Economic Zone off the Gujarat coast. The vessel was found within the International Maritime Boundary Line and attempted to flee before being apprehended. An FIR has been filed under the Immigration and Foreigners Act, marking the second such incident recently.

The BJP-Shiv Sena (Eknath Shinde) alliance has emerged as the leading bloc in the Brihanmumbai Municipal Corporation (BMC) elections, securing a significant number of seats. The Shiv Sena (Uddhav Balasaheb Thackeray) and MNS alliance also garnered a notable share of votes and seats, indicating a competitive civic mandate.

The FAA has warned U.S. airlines about potential risks from military activities and GPS interference over Mexico, Central America, and parts of South America. These advisories, lasting 60 days, follow heightened U.S.-Mexico tensions and threats of military action. Mexico clarified its airspace remains unaffected for its operators.

Other days of free park admission in 2026 are Donald Trump's birthday, Presidents Day, Memorial Day, Independence Day, Constitution Day, Veterans Day, President Theodore Roosevelt's birthday (October 27) and the anniversary of the creation of the Park Service (August 25).

The White House is exploring an executive order to limit credit card interest rates. This move aims to reduce costs for Americans. Administration officials are discussing the details with industry leaders and Congress. The plan is part of a wider effort to ease financial burdens on citizens. This initiative reflects a significant policy consideration.

U.S. private equity firm Hellman & Friedman is exploring a sale of medical devices maker Cordis, aiming for a valuation exceeding $9 billion. Several publicly traded medical device companies are reportedly considering bids. Hellman & Friedman acquired Cordis in 2021 for approximately $1 billion.

Iran faces uneasy calm after deadly protests, with a hard-line cleric demanding death for detainees and threatening President Trump. Trump, however, expressed gratitude for canceled executions, signaling a potential de-escalation. Thousands have reportedly died, with a week-long internet blackout continuing as outward normality returns to Tehran.

The European Commission is exploring a new path for Ukraine's EU membership. This approach, part of a potential peace deal with Russia, could grant Ukraine early accession without immediate full rights. Kyiv would earn these rights through transition periods, offering a security guarantee and economic stability.

X, formerly Twitter, experienced a significant global outage on Friday. Tens of thousands of users reported issues across the United States, United Kingdom, and India. The platform's functionality has largely returned. This follows another outage earlier in the week. X has not yet commented on the cause of these disruptions.

Google did not seek to postpone other requirements, such as limiting contracts that let it preload apps, including its Gemini AI chatbot, to one year in duration.

Quote of the Day: Karl Marx's quote, Necessity is blind until it becomes conscious. Freedom is the consciousness of necessity, encapsulates his philosophy of transforming passive acceptance of material conditions into active change. His life and intellectual journey, from Enlightenment ideas to Hegelian dialectics and revolutionary commitment, shaped his belief that understanding societal forces is the key to liberation and purposeful action.

Reports of possible gunfire near Emory University in Atlanta caused a police emergency alert on campus. The situation was reported near Emory Point, close to the CDC headquarters. Police and university officials are investigating what happened. Authorities have not confirmed a shooting. Residents and students were advised to stay away from the area for safety.

Song of the Day: Mockingbird by Eminem: Released in 2004 on Encore, the track is deeply personal and emotional. The song addresses his daughter Hailie, mirroring the turbulence of her childhood amid fame, fractured relationships, and family issues. Eminem talks candidly about guilt, missed moments, and the challenges of offering stability, providing love and reassurance through music.

David Guggina has been named the new CEO of Walmart U.S., the company's largest division. He will take over the role from John Furner. Guggina currently serves as the chief e-commerce officer for Walmart U.S. He has been with the retailer for nearly eight years, holding various positions, including executive vice president of supply chain operations.

January 16th marks significant historical milestones. From NASA's first female astronauts in 1978 to the launch of Operation Desert Storm in 1991, the day witnessed pivotal moments. Liberia elected its first female head of state in 2006, while the world also remembers the publication of Don Quixote in 1605 and the passing of music producer Phil Spector.

Arunachal Pradesh and Goa are recognized as 'best performers' in developing startup ecosystems, with Gujarat achieving this distinction for the fifth consecutive year. The annual ranking by DPIIT categorizes states and UTs based on their efforts to foster startup growth, highlighting the significant expansion of India's startup landscape since 2016.

A recent study by the World Economic Forum (WEF) indicates that only about 1% of organizations have fully implemented responsible artificial intelligence (AI) practices. In an email exchange with ET, Cathy Li, head, Centre for AI Excellence and member of the executive committee, World Economic Forum stated that governments should focus on creating regulations that can adapt as AI technology develops, rather than attempting to keep pace with static rules.

India is moving closer to acquiring 114 more Rafale fighter jets. The defence ministry has given a key clearance for the air force's proposal. This deal, potentially worth over E35 billion, will now go to the Defence Acquisition Council for further examination. This move signals a significant step towards bolstering India's air power and enhancing indigenous manufacturing capabilities.

India is gearing up to unveil an innovative strategy for Chabahar Port, paving the way for strengthening its stake following the anticipated end of US sanctions in April. Collaborating with a regional Iranian firm, India Ports Global Limited aims to regain operational control over this crucial port.

The government is unlikely to establish a dedicated ESG oversight body, citing existing provisions within the Companies Act. Officials believe a new mechanism would increase compliance burdens and contradict ease of doing business initiatives. Existing legal frameworks already address ESG-related disclosures and violations.

Millions of taxpayers qualify for an IRS retirement tax credit yet never claim it. The Savers Credit can reduce federal taxes by up to 50 percent. Income limits expand in 2025. Eligible workers include modest earners saving through IRAs or employer plans. A single form determines eligibility. Awareness remains the biggest barrier.

India and Japan leaders met in Delhi to discuss West Asia's evolving situation. They focused on de-risking economies and strengthening supply chains. Maritime initiatives were also a key topic, aligning India's MAHASAGAR with Japan's Indo-Pacific outlook. Both nations acknowledged their role in shaping the global order. Economic security and cooperation on energy, health, and maritime security were emphasized.

Prime Minister Narendra Modi urged Indian startups to prioritize manufacturing, deep technology, and global leadership, aiming to position India at the forefront of innovation. He highlighted the significant growth of India's startup ecosystem, now the world's third-largest, with over 2 lakh startups and nearly 125 unicorns, creating substantial employment and driving economic progress.

India has blocked over 242 illegal betting and gambling websites. This action follows the passage of the Online Gaming Act last year. The government has taken down 7,800 such platforms to date. Enforcement has intensified to protect users, especially the youth. The move aims to curb financial and social harm caused by these illegal online activities.

A new microcredit scheme is being finalized to offer collateral-free loans up to Rs 10,000 annually to gig workers and domestic helps. This initiative aims to support entrepreneurial journeys for vulnerable sections. The scheme will be launched in the next fiscal year, starting April 2026.

Tech billionaire Larry Ellison faced online backlash after his luxury yachts name created an embarrassing message when reversed. The issue quickly went viral on social media, leading to jokes and criticism. The incident highlights how even famous business leaders can make simple mistakes that turn into major public talking points.

India's gem and jewellery exports saw a dip in December 2025. Geopolitical issues impacted demand in key markets. However, overall exports remained stable. Jewellery exports, especially gold and silver, showed strong growth. This balanced out a slowdown in cut and polished diamonds. Free Trade Agreements are boosting exports to countries like the UAE and Australia.

Astrologers emphasise that the defining theme of the week is not effortless luck, but earned fortune. The days ahead reward those willing to confront discomfort, remove inefficiencies and act with intention.