Stories from earlier this week and beyond.
The UAE says it will exit OPEC and OPEC+ effective May 1, sending another jolt through an already tight global energy market. The decision comes as tensions around the Iran conflict and the Strait of Hormuz raise fears of severe supply disruptions. With OPEC and OPEC+ shaping nearly half of global output, the move threatens fresh volatility for crude prices.
Meta says its headcount rose to 77,986 as of March 31, 2026, up 1% year on year, even while it continues workforce recalibration and cost-cutting. CEO Mark Zuckerberg points to a push for stronger infrastructure and a reward system for high-impact contributors—aimed at accelerating innovation and scaling advanced models.
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Adani Enterprises reported a Rs 221 crore loss in Q4, reversing last year’s profit, even as revenue grew about 20% year on year. In a separate move, the board approved a dividend of Rs 1.3 per share for FY 2025-26, adding a surprising vote of confidence despite the bottom-line swing.
The Election Commission approved K Kavitha’s new party, Telangana Rakshana Sena, allowing it to retain the TRS initials. Kavitha launched the outfit to channel aspirations of Telangana’s youth and farmers, with a central pledge to push for 50 percent reservation for Other Backward Classes. The party’s formation has already triggered reactions across state politics.
Starting in May, the UAE plans to introduce an AI and robotics system to screen work permit applicants. The move is designed to make the labor market more efficient and to draw in skilled professionals. Candidates will be evaluated using factors such as skills, education, work experience, and knowledge.
Amazon says generative AI infrastructure and its cloud engine are driving results, with net profit rising 77% to $30.3 billion. AWS grew 28% to $37.6 billion and funds other bets. In India, Amazon Now is expanding rapidly, with orders up 25% month over month and Prime members tripling shopping frequency after adopting it.
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Definity says it is rethinking data pipeline reliability for agentic AI by embedding “in-execution” agents directly into Spark or DBT runs. Instead of alerting after jobs fail, the agents capture real-time execution context and can intervene mid-run—stopping downstream pipelines before stale or bad data spreads. The company also announced a $12 million Series A.
The Delhi High Court granted interim relief in the inheritance dispute involving late industrialist Sunjay Kapur’s estate. It restrained Priya Kapur from dealing with or dissipating the assets, ordering that they be preserved until trial. The move follows concerns raised about the authenticity of the will as the children of actor Karisma Kapoor sought legal protection.
IndiaMART InterMESH’s Q4 FY26 net profit crashed 72.2% year-on-year to ₹50.2 crore, down sharply even versus the previous quarter. While operating revenue rose 13.8% YoY to ₹404.3 crore, total expenses jumped 19% to ₹279.3 crore. A ₹33.9 crore loss under other income dragged total income to ₹370.4 crore.
Volkswagen’s finance chief Arno Antlitz says any US tariff refunds would deliver only minimal relief, likely in the small double-digit millions. That pales beside the automaker’s annual tariff bill of about 4 billion euros. Still, Volkswagen plans to pursue refunds—however limited their financial impact may be.
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Smartworks posted strong FY26 results with revenue rising 31% to Rs 1,796 crore, along with its first full year of profitability. The flexible workspace provider became the first listed platform in India to cross 10 million square feet and expanded to 16.1 million square feet across 66 centres. Contracted rental revenue also surged past Rs 5,200 crore.
Digital lending platform Kissht has raised Rs 278 crore from anchor investors ahead of its April 30 IPO. The company plans to mop up Rs 926 crore through the public issue, after reporting strong growth in assets under management and revenue. The funding will support business expansion as it steps into the next phase of scaling operations.
Australian shares closed at a four-week low, marking an eighth straight session of losses as higher oil prices fanned inflation fears and growth concerns. The biggest drag came from top grocer Woolworths, which tumbled more than 7% after it warned rising costs would weigh on earnings, intensifying investor worry across consumer stocks.
Meta’s quarterly earnings reaction appeared weaker as Alphabet, Amazon and Microsoft showed stronger AI momentum, according to reports from Wednesday’s results. While the broader tech group pushed AI across products and cloud, investors seemed to favor firms demonstrating faster execution and clearer AI impact, leaving Meta lagging in market confidence.
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Delhi’s State Legal Services Authority will hold a National Lok Adalat on May 9, 2026 to clear pending cases and minor traffic violations. Token registration opens May 4 and continues until May 7 for compoundable challans issued up to January 31, 2026. Litigants must book slots online and bring printed challans to the designated court venue for settlement.
A viral confrontation in Krishnaganj, Nadia during Phase 2 polling in West Bengal has sparked a fresh controversy over voter intimidation and election transparency. A Bengal police officer accused a Trinamool Congress worker of trying to influence voters and carrying suspicious documents near EVMs, while claims around “fake VVPAT” have intensified the political row as results are expected on May 4.
Brookfield Asset Management is reportedly preparing draft papers for an IPO of Altius Telecom Infrastructure Trust, seeking to raise up to $630 million. Altius, India’s largest telecom tower operator, is also considering a pre-IPO funding round. If approved, the listing could become one of the biggest infrastructure investment trust offerings in India in recent years.
IMF Asia Pacific director Krishna Srinivasan urged Asian governments to keep fiscal discipline and avoid broad fuel subsidies, even as the Iran war tightens global energy supplies. With shortages linked to a logistics logjam at the Strait of Hormuz and rising oil pressures, he cautioned countries to preserve budget room for future shocks rather than rushing into costly coverage.
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DRDO says it is ready to start work on the Agni-VI ballistic missile, but is waiting for central government approval. The agency is also advancing hypersonic glide and cruise missile programmes, with initial glide trials expected soon. India additionally plans a multi-layered conventional missile force aimed at varied tactical needs, signaling a widening, faster-moving deterrence capability.
Japan’s parliament has approved a bill that will significantly increase immigration fees for foreign residents and applicants. Costs for residence status changes and permanent residency are set to rise sharply, while a new online pre-screening system will be introduced for short-term visitors. The government says the steps aim to manage a growing foreign population and strengthen immigration control.
Japan’s Nikkei fell as a surge in oil prices weighed on sentiment, with traders pointing to reports that the US may take action to break the Iran stalemate. The decline was compounded by mixed corporate earnings, leaving investors cautious and demand uneven as markets digested the risk and earnings picture.
Alphabet’s cloud business is accelerating faster than Amazon and Microsoft, with Google’s AI tools increasingly driving demand. Meanwhile, Big Tech’s AI spending is set to exceed $700 billion this year, as companies race to build the infrastructure behind next-gen models. Investors are watching the link between AI investment and cloud growth closely.
Amid viral rumours of a NEET UG 2026 paper leak, the NTA says the May 3 exam will go ahead as scheduled. The agency claims secure material delivery and tight nationwide exam-centre arrangements, while also putting procedures in place for candidates facing biometric verification issues, aiming to keep the test fair and uninterrupted.
ChatGPT 5.5 has sparked a viral frenzy after users reported quirky replies mentioning goblins, gremlins, and other fantasy creatures. The “goblin glitch” appears linked to earlier fine-tuning that taught the model a playful, metaphor-heavy style. OpenAI has acknowledged the behavior and is working on fixes, while Sam Altman joined the lighthearted chatter online.
Ukraine’s President Volodymyr Zelenskyy is demanding specifics about Russia’s proposed short-term ceasefire after a phone call between Donald Trump and Vladimir Putin. Zelenskyy has asked his representatives to coordinate with the US president’s team for the details. Ukraine says it wants a long ceasefire and durable peace, not a temporary pause tied to Moscow’s signals.
Italy’s competition watchdog has shut antitrust probes into three AI firms after they pledged to reduce “hallucination” risks. DeepSeek, Mistral AI, and Turkey’s Scaleup Yazilim Hizmetleri will improve user warnings about inaccurate outputs, add clearer service disclaimers, and invest in safeguards— including DeepSeek putting money into new technology to limit such errors.
Finvolve and India Accelerator have invested $1 million in Chennai deeptech startup Vikra Ocean Tech to scale India’s first fully indigenous ocean robotics stack. The funding will boost manufacturing, expand sales to defence and PSUs, and build recurring revenue via services and maintenance. Vikra’s modular ecosystem spans ROVs, ASVs, amphibious crawlers, and AI-enabled imaging, backed by defence iDEX grants and a 2000-meter-rated camera system.
A violent hailstorm hit Bengaluru on Wednesday evening, bringing heavy rain, strong winds, traffic snarls and damage across the city. In the middle of it, former India cricketer Venkatesh Prasad was seen stepping out of his car, collecting hailstones and even tasting one, then sharing the playful moment online. The clip went viral for its unexpected charm.
A heated argument over a seat inside a crowded Delhi Metro coach turned physical when a woman slapped a man. The incident was captured on video and quickly went viral, prompting immediate intervention from other commuters. The clip highlights how everyday transit stress can spiral into violence in seconds.
Immersive digital experience startup Ctruh has raised $2.5 million in seed funding to speed up R&D and product innovation for enterprise AR and VR use cases. Founded in 2023 in Bengaluru, the company plans to set up sales operations in the US and UAE by 2026. Ctruh’s low-code 3D engine and VersaAI aim to generate production-ready 3D assets from images, text, and video.
India’s first time borrower base has climbed to 4.4 crore, signalling stronger credit growth and faster financial inclusion even as lenders tighten lending norms. Reports say women’s participation is rising sharply, and consumer durable loans are the main entry route. Despite tougher scrutiny, many of these new borrowers show solid repayment discipline, pointing to scalable opportunities in emerging and younger demographics.
SpiceJet cancelled at least three flights from Mumbai’s Terminal 1 at the last minute on April 30, leaving passengers stranded at Chhatrapati Shivaji Maharaj International Airport. The airline cited an operational breakdown tied to an aircraft being grounded, alongside adverse weather at a previous station in Bagdogra, which severely disrupted aircraft rotation and led to the cancellations.
Mumbai’s peak summer watermelon season is facing an unusual shortage as Maharashtra FDA testing for samples tied to four suspected poisoning deaths gets delayed. Investigators are also hampered by vendors reportedly avoiding sales amid public panic and police questioning, while police await forensic and FDA reports to determine what actually happened.
Smart grid startup Kimbal Technologies has raised $22 million in a Series B led by GEF Capital Partners, with support from existing investor Niveshaay. The funding will expand product development across power quality, energy management, and battery storage, strengthen its AMI business and manufacturing, and fund international growth. Total funding now stands at $27 million, with over 1 crore endpoints deployed.
Energy engineering startup Kimbal Pvt Ltd raised $22 million in Series B funding led by GEF Capital Partners, with Niveshaay doubling down via a follow-on round. The company plans to invest in product development across power quality, energy management and battery storage, while advancing its Advanced Metering Infrastructure vertical and manufacturing, plus selective international expansion.
The Delhi High Court has directed Priya Kapur, the proponent of late Sunjay Kapur’s Will, to address “legitimate suspicions” raised by his children. While the dispute continues, the court imposed protective safeguards on the family estate, including restrictions on alienating assets, to prevent any irreversible transfers until doubts are resolved.
The US has introduced new screening questions for non-immigrant visa applicants tied to asylum risk. Applicants are asked whether they have experienced harm or fear returning to their home country, and refusal to answer is also treated as a negative signal. A “yes” to either question or not answering can lead to visa denial as part of tighter interview scrutiny.
As the India Middle East Europe Economic Corridor (IMEC) gathers momentum, Bengaluru exporters could gain faster, more reliable access to global markets. The corridor offers an alternative to classic maritime chokepoints like the Strait of Hormuz and the Suez Canal, helping firms reduce delays. With geopolitical risks rising, IMEC could improve operational efficiency and trade continuity for Indian businesses.
Even as global Brent crude crossed the $120 per barrel mark, India’s petrol and diesel prices held steady on April 30, 2026. After viral rumors circulated about a major hike, the government via PIB Fact Check debunked a fake notification, clarifying that fuel rates would not change. Citizens in major metros were told to ignore the misinformation.
CISCE has declared ICSE Class 10 and ISC Class 12 Year 2026 results, ending the wait for more than 3.6 lakh students in India and abroad. With the pass percentage crossing 99 percent and girls outperforming boys, candidates can check results on the official CISCE websites or via DigiLocker, while schools can access tabulation registers through the CISCE Careers Portal.
PFRDA has issued fresh clarifications on National Pension System charges that affect how savers pay over time. Annual Maintenance Charges for Tier II accounts will now be aligned with Tier I rates. The regulator also outlines a new treatment for dormant accounts, which will incur a 10% AMC charge, changing cost expectations for inactive subscribers.
India and Italy have agreed on a Military Cooperation Plan for 2026 to 2027, marking a fresh push to deepen defense ties. The framework focuses on expanded military engagements through structured exchanges and joint training, while also setting the stage for closer defense industrial collaboration between New Delhi and Rome.
Microsoft’s latest quarter delivered 29% cloud growth, with Microsoft Cloud revenue hitting $54.5 billion. Total revenue rose 18% to $82.9 billion and net profit climbed 23% to $31.8 billion. The company’s AI annual revenue run rate now exceeds $37 billion, but management warns it’s supply constrained through 2026 while capex ramps to an estimated $190 billion for 2026.
Brihanmumbai Municipal Corporation (BMC) has scheduled a 30-hour water supply shutdown in parts of Mumbai from May 5, 10 am, to May 6, 4 pm, 2026. The break is for essential maintenance and water tunnel connection works under its Water Supply Project. Residents in several listed localities, including Pratiksha Nagar and Shastri Nagar, may see reduced supply during the window.
Defence Minister Rajnath Singh told the ANI National Security Summit 2.0 that lasting deterrence is vital to peace and stability in international relations. He linked India’s preparation for Operation Sindoor with the credibility of indigenous weapons, framing the operation as a clear demonstration of New Delhi’s deterrence posture to potential adversaries.
DRDO Chairman Samir V Kamat says India’s LR-AShM hypersonic glide missile programme is in an advanced stage, with initial trials expected soon. Speaking at ANI’s National Security Summit 2.0, he explained how hypersonic glide vehicles differ from cruise missiles and outlined plans for a multi-layered conventional strike force aimed at next-generation deterrence and precision.
A window grill detached and collapsed at MIG Colony in Kurla, Mumbai, moments when children were sitting nearby. The kids narrowly avoided a potentially fatal fall, though officials are still assessing whether any injuries are minor or more serious. The incident has sparked fresh demands for urgent structural maintenance and stronger building safety checks in aging high-rises.
India’s consumer durables sector is rebounding as rising temperatures spur demand, particularly in southern markets. April sales were reportedly flat, but the outlook for the following months looks brighter. Companies are raising prices to protect margins. Premium appliances are outperforming while entry-level products face pressure, with modest overall growth expected on steady high-end demand and favorable weather.
Rajasthan Royals captain Riyan Parag has been fined 25% of his match fee and handed a demerit point after vaping in the dressing room during an IPL game against Punjab Kings. Parag accepted the sanction, while the BCCI said it is reviewing whether further action is needed to protect the league’s image and enforce conduct rules.
APEDA plans to set up India’s first integrated Basmati training and demonstration farm in Pilibhit, Uttar Pradesh. The farm will support both conventional and organic Basmati cultivation, with training and research for farmers. Alongside this, an AI-based survey project for Basmati paddy is being launched to improve understanding and boost agricultural exports.
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