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US team likely to visit India next month, interim pact negotiations continue

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US team likely to visit India next month, interim pact negotiations continue


India-US trade talks: US team likely to visit India next month, interim pact negotiations continue

A US delegation is expected to visit India next month for trade negotiations under the proposed bilateral trade agreement (BTA), Commerce Secretary Rajesh Agrawal said on Friday, PTI reported.“We expect the US team to visit soon..not this month..may be next month,” Agrawal told reporters.However, he said the dates for the visit have not been finalised yet.The proposed visit comes after Indian officials travelled to Washington DC in April for in-person discussions with their US counterparts to finalise details of the interim trade pact and advance negotiations under the broader India-US Bilateral Trade Agreement framework.India and the US had issued a joint statement on February 7 outlining the framework for an interim trade agreement focused on reciprocal and mutually beneficial trade.The framework also reaffirmed both countries’ commitment to negotiating the larger bilateral trade agreement.Agrawal said India continues to engage with the US on the trade deal and that the agreement would be signed at an “opportune time”.He also said India is in discussions with the US regarding Section 301 investigations.Trade ties between the two countries remain significant, although India’s trade surplus with the US narrowed during the last fiscal year.India’s exports to the US rose marginally by 0.92 per cent to $87.3 billion in 2025-26, while imports increased 15.95 per cent to $52.9 billion. India’s trade surplus with the US declined to $34.4 billion from $40.89 billion in the previous fiscal.


Iran war live: Lebanon, Israel extend truce; Tehran ready for more US talks | US-Israel war on Iran News

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Iran war live: Lebanon, Israel extend truce; Tehran ready for more US talks | US-Israel war on Iran News



7 crucial deals inked by PM Modi in UAE

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7 crucial deals inked by PM Modi in UAE


Short trip, big results: 7 crucial deals inked by PM Modi in UAE

NEW DELHI: India and the United Arab Emirates (UAE) on Friday signed seven key agreements during Prime Minister Narendra Modi’s brief stopover in the Gulf nation, the first leg of his five-country tour that will now take him to Europe.“Substantive outcomes that will add further vigour to the India-UAE friendship,” PM Modi posted on X while quote-tweeting the Ministry of External Affairs’ post on the agreements.The 7 outcomes:

  • A strategic collaboration agreement between Indian Strategic Petroleum Reserves Limited and Abu Dhabi National Oil Company (ADNOC). The pact is expected to strengthen India’s energy security and strategic petroleum reserves, while also paving the way for potential cooperation in India’s LNG and LPG infrastructure.
  • A strategic agreement on the supply of liquefied petroleum gas (LPG) to boost India’s long-term energy security and strengthen long-term LPG supply.
  • A framework agreement on a Strategic Defence Partnership, aimed at expanding cooperation in defence manufacturing, innovation, military training, maritime security, cyber defence, and secure communications.
  • A proposed ship repair and maritime infrastructure cluster project at Vadinar in Gujarat to advance the Make In India scheme.
  • An arrangement on skill development in ship repair to advance capabilities of India’s maritime workforce and position the country as hub for skilled shipbuilding and ship repair professionals.
  • Setting up eight Exaflop Super Computer Cluster involving India’s Centre for Development of Advanced Computing and UAE’s G-42.
  • UAE commitments worth $5 billion in investments across Indian infrastructure and financial institutions.

PM Modi’s 5-nation visitThe prime minister is now en route to the Netherlands, from where he will travel to Sweden on Sunday. He will then head to Norway the following day for his first official visit to the Nordic nation — the first by an Indian prime minister in 43 years. The five-nation tour will conclude with a two-day visit to Italy on May 19 and 20.


Trump warns Taiwan against declaring independence, hours after summit with China's Xi

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Trump warns Taiwan against declaring independence, hours after summit with China's Xi



The US president says he wants Beijing and Taipei to “cool down” tensions over the self-governing island.


Wall Street falls as AI stocks tumble, oil-driven inflation fears rattle markets

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Wall Street falls as AI stocks tumble, oil-driven inflation fears rattle markets


US stock market today (May 15): Wall Street falls as AI stocks tumble, oil-driven inflation fears rattle markets

Wall Street retreated sharply on Friday as a sell-off in artificial intelligence-linked technology stocks and rising concerns over inflation triggered by elevated oil prices pushed major US indices lower from record highs, AP reported.The S&P 500 fell 1.1 per cent after hitting an all-time high a day earlier, while the Dow Jones Industrial Average dropped 408 points, or 0.8 per cent, in early trade. The Nasdaq Composite declined 1.6 per cent as heavyweight technology stocks came under pressure.AI-linked stocks, which had powered much of the market rally this year, led the decline amid concerns that valuations had become overstretched following months of sharp gains.Nvidia, widely seen as the face of the AI-driven rally, dropped 3.6 per cent and emerged as the biggest drag on the S&P 500. The stock had gained more than 26 per cent so far this year before Friday’s correction.“To us, it looks like markets have pushed into overbought territory,” Brian Jacobsen, chief economic strategist at Annex Wealth Management, said.“The path is unlikely to be smooth. Periods like this call for discipline more than hope,” he added.Investor sentiment was also weighed down by rising oil prices and fears that the prolonged Iran conflict could further intensify global inflationary pressures.The Strait of Hormuz — a critical global energy shipping route — remains disrupted amid the ongoing conflict, pushing Brent crude prices up another 2.1 per cent to $107.97 per barrel. Oil prices were trading around $70 before the war escalated earlier this year.The rise in crude prices has increased concerns that inflation could remain elevated for longer, limiting the US Federal Reserve’s room to cut interest rates.The pressure was visible in the bond market, where Treasury yields climbed sharply. The yield on the 10-year US Treasury rose to 4.56 per cent from 4.47 per cent a day earlier, while the 30-year Treasury yield approached its highest level since 2023 after crossing the 5 per cent mark.Higher bond yields tend to increase borrowing costs for households and businesses while also reducing the attractiveness of equities and other risk assets.Markets are increasingly reassessing expectations around US interest rates, with traders scaling back hopes of rate cuts this year and beginning to price in the possibility of rate hikes in 2026, according to CME Group data cited by AP.The sell-off extended across global markets.European and Asian equity markets also declined sharply, with South Korea’s Kospi index tumbling 6.1 per cent after previously touching record highs driven by enthusiasm around AI-related stocks such as SK Hynix.Analysts said Friday’s market move reflected growing caution around the sustainability of the AI-led rally.“If nothing else this should be a ‘shot across the bow’ for how volatility works both ways,” Jonathan Krinsky, chief market technician at BTIG, said.


Mahmoud Khalil calls for deportation to be halted in light of new evidence | Israel-Palestine conflict News

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Mahmoud Khalil calls for deportation to be halted in light of new evidence | Israel-Palestine conflict News


The lawyers for Mahmoud Khalil, a former Columbia University student targeted for deportation by the United States government over his pro-Palestine advocacy, have called on an immigration appeals court to reopen and terminate his case.

The latest legal appeal points to new evidence, some of which was documented in media reports, that Khalil’s lawyers said it “suggests that the Trump Administration secretly engineered the outcome of his immigration case to make an example of him”.

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It comes just over a month after the Board of Immigration Appeals issued a final order of removal for Khalil, who was first detained by immigration enforcement agents in March 2025, one of several students targeted for their participation in pro-Palestine campus protests that swept the US the previous year.

Khalil, a US permanent resident who is married to a US citizen, has long maintained that he has been unjustly targeted for his political views.

His legal team said on Friday that “apparent procedural abnormalities” support that view.

“It’s clear that the revelations of DOJ misconduct corroborate what we have known since Mahmoud was arrested–that the administration has reverse-engineered its desired outcome by weaponising a farcical proceeding littered with abnormalities,” Johnny Sinodis, a lawyer representing Khalil, said in a statement.

The new evidence includes a report by The New York Times that found that Khalil’s case had been flagged as high priority before it had arrived at the Board of Immigration Appeals, in what his lawyers say indicated the case was being “fast-tracked”.

The report, citing case documents, also found that the court had been instructed to treat Khalil’s case as if he were still in detention custody, which typically results in an expedited processing timeline.

Khalil was released from immigration detention in June 2025 following a federal judge’s order. An appeals court later ruled the judge did not have jurisdiction over the matter. He is also appealing that decision, during which time authorities are barred from re-detaining or deporting him.

The New York Times report also found that three judges at the Board of Immigration Appeals recused themselves from the case. While the reasons for the recusals were not made public, experts familiar with the board’s procedures have said the rate of recusals was extremely rare.

The Board of Immigration Appeals is meant to be independent. Like other immigration courts, it falls under the Department of Justice in the executive branch, which critics say makes it more vulnerable to interference.

Other federal courts fall under the independence of the judicial branch.

The Trump administration has framed Khalil’s deportation as part of a crackdown on anti-Semitism. They have presented no evidence to back the claims against him, and Khalil has never been charged with a crime.

This week, The Intercept news site reported that shortly after he was detained by immigration agents, the FBI had closed an investigation into a tip that Khalil had called for “violence on behalf of Hamas”, saying it did not warrant further investigation.

In targeting Khalil, US Secretary of State Marco had invoked a rarely used provision of the Immigration and National Act that allows the deportation of individuals deemed to be a national security threat based on “past, current or expected beliefs, statements, or associations that are otherwise lawful”.

The manoeuvre raised questions over freedom of speech and whether those protections extended to permanent residents like Khalil. The government later added the claim that Khalil had intentionally failed to disclose his past work for the UN agency for Palestinian refugees (UNRWA) on his immigration application.

Administration officials have repeatedly stood by the claims and maintained that Khalil received proper due process.

In a statement on Friday, Khalil said the administration “wants to arrest, detain, and deport me to intimidate everyone speaking out for Palestine across this country, and they are willing to violate longstanding US rules and procedures to do it”.

He added, “No lies, corruption, or ideological persecution will stop me from advocating for Palestine and for everyone’s right to free speech.”


Petrol, diesel prices up by Rs 3, CNG by Rs 2, further hike likely; no change in piped gas yet

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Petrol, diesel prices up by Rs 3, CNG by Rs 2, further hike likely; no change in piped gas yet


Petrol, diesel prices up by Rs 3, CNG by Rs 2, further hike likely; no change in piped gas yet

NEW DELHI: Amid mounting losses, public sector oil firms announced the much-anticipated increase in petrol and diesel prices, raising it by around Rs 3 a litre across metros on Friday, which was lower than expected. Piped kitchen gas prices were, however, left unchanged.Oil company executives did not rule out the possibility of a further increase in petrol and diesel prices, but that will depend on a green light from the govt, including extent and timing.The hike for the two auto fuels will only partially cover the losses of state-run oil retailers with ratings agency Crisil estimating under-recoveries at Rs 10 a litre for petrol and Rs 13 for diesel. Oil companies follow a complex formula, which largely links retail prices to global prices for petrol and diesel. On top of that, taxes are added.While the cost of crude for Indian refiners has increased 53% from an average $69 a barrel in Feb to over $106 so far in May, there is a jump of around 75% each for petrol and diesel. Fuel prices in India had remained frozen since April 2022, barring March 2024, when the Centre reduced excise duty by Rs 2 a litre.The increase on Friday came a fortnight after the elections in four states and Puducherry ended.Petrol prices increased over 44% in US in a little over two monthsEarlier this week, the daily under-recovery for Indian Oil, Bharat Petroleum and Hindustan Petroleum was pegged at Rs 1,000 crore earlier this week. Ratings agency ICRA said that they may now be incurring losses of around Rs 500 crore a day, including on the sale of cooking gas cylinders to households below the market price. Besides, the Union govt has only allowed partial adjustment of aviation fuel prices for domestic scheduled airlines.Govt officials have argued that govt and oil companies had so far insulated citizens from an increase when several other countries were raising prices and imposing curbs. Govt data showed that petrol prices increased over 44% in US and diesel surged 48% in a little over two months. In Canada, the jump was 32% and 33%, respectively, while petrol prices in New Zealand rose nearly 31% and diesel by around 89%. Private fuel retailers such as Nayara Energy and Shell increased pump prices in March and April, respectively.Sehul Bhatt, director, Crisil Intelligence, called the hike a step towards unwinding a prolonged under-recovery cycle. “At their peak, oil marketing companies were absorbing losses of Rs 23-30 per litre on petrol and diesel, translating into a combined daily loss of Rs 1,300-1,400 crore across petrol, diesel and LPG. Govt intervention through excise duty relief of Rs 10 per litre narrowed these to Rs 14 and Rs 17 per litre, reducing the daily loss run rate to around Rs 1,000 crore,” Bhatt said.


Israel and Lebanon agree to extend ceasefire, US state department says

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Israel and Lebanon agree to extend ceasefire, US state department says


More than one million people, amounting to one in five of the population, have been forced from their homes across Lebanon, most of them from the south, the eastern Bekaa Valley, and the southern suburbs of Beirut known as Dahieh, areas where Hezbollah holds sway.


Profit more than doubles to Rs 2,965 crore; India operations drive growth despite global headwinds

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Profit more than doubles to Rs 2,965 crore; India operations drive growth despite global headwinds


Tata Steel Q4 results: Profit more than doubles to Rs 2,965 crore; India operations drive growth despite global headwinds

Tata Steel on Friday reported a more than two-fold jump in consolidated net profit to Rs 2,965 crore for the January-March quarter of FY26, supported by higher revenues from its India operations and improved volumes, PTI reported. The company had posted a consolidated net profit of Rs 1,201 crore in the corresponding quarter of the previous financial year. Total income during the fourth quarter rose to Rs 63,518.60 crore from Rs 56,679.11 crore in the year-ago period, according to an exchange filing. For the full 2025-26 financial year, Tata Steel posted a net profit of Rs 10,885.82 crore, more than three times higher than Rs 3,173.78 crore recorded in FY25. Total income increased to Rs 2,33,541.72 crore from Rs 2,20,083.04 crore. The company’s India operations remained the key growth driver during the quarter. Tata Steel India’s revenues rose to Rs 38,447.96 crore from Rs 34,398.84 crore a year ago, while Neelachal Ispat and other Indian operations generated over Rs 6,604 crore in revenue compared with Rs 4,277 crore in the same quarter last year. Tata Steel Nederland also reported improved revenues of Rs 17,016 crore against Rs 14,769.43 crore in Q4 FY25. However, the company’s UK business, which remains under transition, posted lower revenues of Rs 5,774.44 crore compared with Rs 6,000 crore a year earlier. In a separate statement, Tata Steel said its net debt declined by Rs 2,285 crore year-on-year to Rs 80,144 crore as of March 31, 2026. The company spent Rs 3,655 crore on capital expenditure during the March quarter, taking total capex for FY26 to Rs 14,026 crore. The board has recommended a dividend of Rs 4 per equity share of face value Re 1 each. During FY26, Tata Steel’s steel production increased to 31.67 million tonnes from 30.92 million tonnes in FY25, while deliveries rose to 31.97 million tonnes from 30.96 million tonnes. The company also announced definitive agreements to acquire an additional 23 per cent stake in TM International Logistics Ltd for Rs 335 crore, subject to regulatory approvals. Tata Steel currently holds a 51 per cent stake in the logistics firm. Commenting on the performance, Tata Steel CEO and MD T V Narendran said, “Tata Steel India reported best ever deliveries of 22.5 million tons during FY26.” “This volume growth was supplemented by an expanding downstream portfolio across Tubes, Tinplate, Colors & Wires, in line with our strategy of strengthening our leadership position across chosen high value segments,” he added. Narendran also flagged emerging geopolitical pressures on operations. “In the last quarter, developments in West Asia began to exert pressure on supply chains and input costs, and these pressures are continuing into FY2027. We are pursuing calibrated actions to mitigate risks in this regard,” he said. Executive Director and CFO Koushik Chatterjee said the company delivered improved performance for the second consecutive year despite weak steel prices in key markets. “Higher volumes and an improved product mix in India, combined with tangible benefits of around Rs 10,868 crore from the cost transformation program, led to an improvement in EBITDA margin of 320 bps on a YoY basis,” Chatterjee said.


Is the US dialling down its support for Taiwan? | Donald Trump News

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Is the US dialling down its support for Taiwan? | Donald Trump News


Donald Trump does not commit to arms sale during China visit.

A year ago, United States-China relations reached one of their lowest points when Donald Trump announced his “Liberation Day” tariffs.

The US president made some concessions when he met his Chinese counterpart, Xi Jinping, a few months later.

And the White House yielded more ground in the run-up to Trump’s visit to Beijing this week.

It suspended a $14bn arms sale to Taiwan, which China claims as its sovereign territory.

But that did not stop Xi from calling Taiwan “the single most important issue” in relations with the US.

Could a dispute over the territory lead to conflict between Beijing and Washington?

Presenter: Mohammed Jamjoom

Guests:

Ali Wyne – Senior research and advocacy adviser for US-China relations, The International Crisis Group

Victor Gao – Vice president, Center for China and Globalization

Wen-Ti Sung – Nonresident fellow, Atlantic Council’s Global China Hub