The Economic Times

Ukraine's vital steel sector faces a new threat from European Union import quotas. This move could severely damage the war-torn industry, despite prior EU assurances. Ukrainian steel producers are already struggling with war-related challenges. The EU's decision risks significant economic losses for Ukraine and contradicts its stated support for the nation. This impacts revenue and tax collection.

Despite the allegations surrounding Jeffrey Epstein, Bank of America wealth adviser Paul V. Morris maintained connections with Epstein for several years. This outreach went on even after the bank settled a multi-million dollar lawsuit linked to Epstein's criminal activities.

The Income Tax Appellate Tribunal has ruled that tax deducted at source credit cannot be denied once income is taxed. This decision came in a reassessment case involving a Navi Mumbai taxpayer. The tribunal stated that taxes deducted and deposited cannot be disregarded on technical grounds. This ruling reinforces the linkage between taxing income and granting TDS credit.

Union Minister Shivraj Singh Chouhan released over 10,000 crore for rural housing to support the Pradhan Mantri Awas Yojana-Gramin for 12 states in the financial year 2026-27. The initiative aims to provide permanent homes to all homeless individuals in rural India. Significant progress has been made, with over 3.5 crore houses completed.

The Delhi Transport Corporation (DTC) is working on a Memorandum of Understanding (MoU) with state-owned NTPC Limited, which will provide the buses under its Corporate Social Responsibility (CSR) initiative.

The Bharatiya Janata Party has appointed MLA Abhishek Debroy as the new President of its Tripura unit. This move is seen as preparation for the 2028 assembly polls. Debroy, a first-time MLA, previously led the party's Gomati district unit. He entered politics through student activism. Chief Minister Manik Saha and outgoing president Rajib Bhattacharjee congratulated Debroy on his new role.

A timeless Japanese proverb offers a powerful antidote to modern-day anxiety. It advises focusing energy on solvable problems through action, while accepting what cannot be changed to preserve mental peace. This wisdom, rooted in Zen philosophy, encourages emotional balance and inner calm, proving remarkably relevant in our fast-paced, stressful world.

America will block Iranian airlines from landing, refueling, and selling tickets. This move aims to increase pressure on Tehran. The United States also seeks to open the Strait of Hormuz. Treasury Secretary Scott Bessent announced these measures. He stated that negotiations are key to ending the current situation. Further details were not provided.

Scientists discover ancient single-celled ancestors still live on in human blood, revealing a 700-million-year evolutionary link hidden inside the immune system. Researchers at Kyoto University traced modern blood cells back to primitive unicellular organisms that existed before complex animals appeared on Earth. The study found macrophages and immune genes like FOS still carry ancient biological patterns today.

Prime Minister Narendra Modi on Thursday said that projects worth over Rs 30,000 crore were reviewed during the latest PRAGATI session, covering sectors like ailways, power and road connectivity.

Quote of the day by Ivan Pavlov: Ivan Pavlov's quote highlights how the fundamental drive for survival, symbolized by the search for daily bread, has historically dominated human life and shaped societal development. This oldest link connects all living things to nature, emphasizing our enduring dependence on the environment for sustenance and well-being.

The worlds richest families are pouring money into artificial intelligence despite concerns over inflated tech valuations, according to a new UBS Global Family Office Report. The study, based on 307 family offices managing an average net worth of $2.7 billion, found that 65% now see AI as their top thematic investment priority.

Neymar will miss Brazil's upcoming friendlies and their World Cup opener. Scans revealed a grade-two calf injury. The forward faces two to three weeks on the sidelines. This means he will be out for the match against Panama and Egypt. He is also unlikely to play in Brazil's World Cup debut against Morocco.

Updated IPL 2026 Orange Cap: Vaibhav Sooryavanshi leads the IPL 2026 Orange Cap race with 680 runs, showcasing explosive batting and consistency. Established stars like Sai Sudharsan, Heinrich Klaasen, Shubman Gill, and Virat Kohli remain strong contenders as the tournament enters its decisive playoff phase. The competition is exceptionally tight, with every run crucial in this closely fought battle.

Madagascar proverb of the day highlights the importance of balancing emotions with awareness. The proverb, Dont be so in love that you cant tell when its raining, explains how emotional attachment can affect judgment. The saying from Malagasy culture teaches people to notice warning signs, protect self-respect, and avoid ignoring reality in relationships. The proverb also remains relevant today because people continue to face emotional decisions in personal and social life.

The two countries are negotiating a Comprehensive Economic Partnership Agreement (CEPA). The third round of negotiations is underway in Ottawa. The minister was in Canada for a three-day official visit.

The psychology behind people who feel jealous of their spouses success reveals a complex blend of self-esteem, identity, social comparison, insecurity and emotional fear. Psychology suggests that many jealous partners are not necessarily toxic or malicious; instead, they may feel emotionally threatened, left behind or uncertain about their own sense of worth.

The U.S. Treasury has launched the Trump Accounts app nationwide. This initiative aims to create millions of investment accounts for children. The government will deposit $1,000 in starter funds for eligible children. Major companies have pledged contributions for their employees' children. This program encourages early long-term investing to build wealth and financial foundations for future generations.

Earl Nightingale's timeless quote The time will pass anyway continues to inspire millions. It encourages people to pursue their dreams despite the time commitment. Nightingale, a motivational speaker, shared this wisdom from his own life experiences. His message combats modern anxieties about quick success and the fear of being too late.

The US and Iran accused each other of breaching a fragile ceasefire after fresh clashes around the Strait of Hormuz, marking the worst flare-up since the truce began in April. Iran said it fired at unauthorised ships and targeted a US-linked airbase after strikes near Bandar Abbas, while US forces said they intercepted drones and called Tehrans actions a ceasefire violation.

Americans sought more unemployment benefits last week. Layoffs remain low despite economic uncertainty. Jobless claims are up to 215,000. The number of people signing up for benefits has stabilized in a low range. Companies are not resorting to widespread layoffs. Hiring has picked up slightly this year. The Iran war has clouded the economic outlook.

America's inflation rate has reached a three-year peak. Higher energy costs are a major factor. This situation is expected to keep interest rates unchanged for some time. Tax refunds are temporarily boosting spending. However, economists anticipate a slowdown as the tax season concludes. Consumers are facing rising prices across various goods and services.

Delhi and the Centre will jointly build six major road projects. These aim to ease traffic between Delhi and NCR cities. Projects include expressways and elevated corridors. Construction is planned to start from late 2026. These initiatives will improve connectivity and reduce congestion across key areas. The focus is on future traffic needs.

Chinese AI models are no longer just regional competitors. They are rapidly becoming a global artificial intelligence force. New JPMorgan data showed Chinese AI token consumption surging sharply between February and May 2026, signaling explosive AI adoption across enterprise software, mobile ecosystems, e-commerce platforms, and productivity tools. Lower-cost open-source AI models are driving this growth. Chinas massive consumer base and fast digital integration are helping Chinese AI companies

The US economy expanded less than initially estimated in the first three months of the year, government data showed Thursday, with investment and consumer spending revised lower. Gross domestic product in the world's biggest economy rose at an annual rate of 1.6 percent in the first quarter, the US Commerce Department said, down from 2.0 percent in an advance estimate released last month. bys/acb

A federal judge has refused to stop President Donald Trump's executive order on voter lists and mail voting. This decision allows potential major changes to US elections before the midterms. The judge said it was too early to act. A separate lawsuit is ongoing in Boston. Trump's order aimed to create a federal voter list and restrict mail ballots.

IPL 2026 RR vs GT Qualifier 2: Rajasthan Royals face Gujarat Titans in a high-stakes IPL 2026 Qualifier 2 for a spot in the final. After a dominant Eliminator win, RR's explosive batting, led by Vaibhav Sooryavanshi, clashes with GT's experienced bowling. Key battles like Sooryavanshi vs. Siraj and Jaiswal vs. Rabada will shape this thrilling encounter.

Chinese proverb of the day: Life's journey often leads people far from their origins, yet emotional ties to home remain strong. Ancient Chinese wisdom, like the proverb A tree may grow high, but its leaves always fall on its roots, emphasizes that growth and success don't diminish the importance of one's beginnings. These roots provide enduring strength and a sense of belonging.

State Bank of India Chairman Challa Sreenivasulu Setty warns the West Asia conflict may slow global growth and increase inflation. India remains resilient due to strong domestic demand and public investment. However, spillover effects could impact India's GDP growth and inflation in FY2027. Policymakers and financial institutions must remain agile as global dynamics shift.

The ongoing popularity of Strands highlights how much players enjoy daily games that are both quick and mentally stimulating. The New York Times has successfully expanded its puzzle empire beyond traditional crosswords, creating viral games that encourage daily participation and widespread social sharing.

Security forces intensified their anti-terror operation in Rajouri's dense forests. Fresh assaults targeted suspected terrorist hideouts. The operation entered its sixth day. Two to three Pakistani terrorists are believed to be hiding. Northern Army Commander reviewed the ongoing efforts. Forces are tracking fleeing terrorists. Joint teams are conducting extensive searches.

Inspirational movie quote of the day by Alfred Pennyworth: Alfred Pennyworths iconic quote from Batman Begins, Why do we fall, sir? So that we can learn to pick ourselves up, delivers a powerful life lesson. It highlights that failure is an unavoidable part of life, but true strength comes from the ability to recover, persevere, and keep moving forward.

More than a dozen explosions rocked Beirut, witnesses said, in the most intensive strikes on the southern suburbs since a war between Israel and Hezbollah in 2024.

The Supreme Court has made headlines with its ruling, requiring online gaming platforms to pay a hefty 28% GST on the entirety of the bet value. This decision could precipitate a colossal tax obligation estimated at 2.5 lakh crore for the industry.

Quote of the day by Peter Singer: The question is not whether we can ignore suffering, but whether we choose to. Peter Singers philosophy on utilitarianism, animal rights, effective altruism, vegan ethics, and global poverty still drives modern ethical debate worldwide. His ideas challenge luxury, waste, factory farming, and social inequality. Peter Singer argues every action creates moral impact. From climate change to charity and ethical living, his work pushes people to think deeper about res

Former RBI Governor Duvvuri Subbarao has advised the RBI to allow some rupee depreciation to counter external pressures. He has suggested using liquidity measures instead of rate hikes if inflation risks rise. Subbarao has emphasised that monetary policy should be a last resort for exchange rate defence.

Indian small businesses saw their best growth in 2025 since the pandemic. Four out of five firms expanded, with strong expectations for 2026. Technology adoption and customer experience boosted growth. Rising costs and global uncertainty remain key concerns. Hiring increased, and digital payments and e-commerce revenue grew significantly.

Sweden and Ukraine have forged a pivotal defense pact, with Sweden ready to supply a total of 20 Gripen E/F fighter jets to Ukraine's air force. Alongside this, 16 Gripen C/D jets will be donated, significantly strengthening Ukraine's military prowess. The financing for this substantial acquisition will be facilitated via a European loan, highlighting collaborative efforts to enhance regional security.

Sanjay Mehrotra, who was reportedly denied a US visa three times as a student, now leads Micron Technology, one of the worlds biggest semiconductor companies. His journey reflects the rise of Indian-origin tech leaders such as Satya Nadella and Sundar Pichai. As the AI boom drives demand for memory chips, Micron has seen massive growth and is also making significant investments in Indias semiconductor sector.

Indian shuttlers PV Sindhu and Lakshya Sen have reached the quarterfinals of the Singapore Open. Sindhu secured a dominant win, while Sen advanced due to his opponent's retirement. The men's doubles pair of Satwiksairaj Rankireddy and Chirag Shetty also progressed. HS Prannoy's campaign ended after a late collapse in his match.

China has voiced strong objections to the EU's application of trade data, suggesting a skewed portrayal. While the European Union weighs potential import quotas and tariffs aimed at shielding its industries from Chinese rivalry, China has countered that trade relies on mutual consent.

Eating nutrient-rich foods daily can improve your energy, immunity, and overall health. These superfoods are easy to include in your meals and offer powerful health benefits.

The Central Bureau of Investigation has arrested Giribala Singh, a retired district judge. The arrest occurred at her Bhopal residence. This action followed the Madhya Pradesh High Court's decision to cancel her anticipatory bail. A sessions court had previously granted her this bail. The High Court's order cited factual aspects and allegations against her.

Delhi-NCR anticipates significant relief from the heatwave as the IMD issues an orange alert for thunderstorms, lightning, and isolated hailstorms. Moderate to severe thunderstorms with strong winds up to 70 kmph are expected, potentially dropping temperatures by 5-7 degrees Celsius after May 29.

Iran launched an attack on Kuwait. The US military described this as a serious ceasefire violation. This happened after Iran sent drones near the Strait of Hormuz. US forces intercepted these drones. The US military also stopped another drone launch. These events highlight ongoing tensions between the US and Iran.