Stories from earlier this week and beyond.
Banks across India will observe holidays today for Akshaya Tritiya and Basava Jayanti, but closures will differ from state to state. If you planned to visit a branch or complete transactions, check your local holiday calendar before heading out, since regional festivals and observances determine whether services remain open on April 20, 2026.
Indian seafood exporters are bracing for up to Rs 1,500 crore in losses as the Iran war fuels sustained disruption in trade flows. Experts warn that longer disruptions could destabilise coastal livelihoods, hit processing and supply chains, and weaken India’s export competitiveness. Stakeholders say shipping uncertainty and contract delays are the immediate pressure points.
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Canada will raise permanent residence and citizenship application fees effective March 31 and April 30, 2026, impacting multiple immigration routes including Express Entry, family sponsorship, and the Right of Permanent Residence Fee. People who submitted and paid online before the respective deadlines will be unaffected, making timing crucial for applicants planning to apply in 2026.
India finished strong at the Asian Boxing Championships 2026 as Vishvanath Suresh captured gold in the men’s 50kg category. In the final, he dominated Japan’s Daichi Iwai with a stunning 5-0 unanimous verdict. Sachin followed up by securing silver in the 60kg bout, rounding out an impressive haul for India.
The UK government is considering tougher migration rules that would double the standard waiting period for permanent residency to 10 years, and extend it to 20 years for refugees. The stated goal is to deter irregular migration, but critics warn it could place the UK among the most restrictive high-income democracies, with potentially unprecedented delays for people seeking protection.
With the West Asia conflict weighing on trade and slowing most activity across Surat and Tiruppur textile clusters, manufacturers are bracing for tough months. Yet one Surat-based segment is turning the disruption into opportunity, tapping demand that is shifting in response to supply pressures. The result: selective growth even as the broader sector stays under strain.
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Gold volumes in GIFT City are plunging even as prices rise, according to reports. In FY26, frequent changes in allocation rules and legal disputes over Tariff Rate Quota under the UAE CEPA have disrupted trading at the bullion exchange. Market participants say the uncertainty around import quota mechanics is deterring orders and slowing liquidity when it’s needed most.
Indian government bonds fell on Thursday as oil prices rose on uncertainty around the US-Iran ceasefire and disruptions in the Strait of Hormuz. The 10-year bond yield reversed nearly half of its biggest rally in four years, reflecting renewed risk premium and tightening market sentiment as energy and shipping shocks feed into rate expectations.
In Haryana, senior forest officials are fighting a turf war over illegal tree felling, but the issue is bigger than one department. The khair tree extraction feeding the pan masala industry is reportedly widespread, driven by lucrative demand. Officials’ buck-passing and institutional decay are leaving forests hollowed out—turning them into “ghost forests”.
Green hydrogen’s high cost remains the biggest obstacle to mainstream adoption, pushing Indian startups to build indigenous, cost-efficient technology. Even with unorthodox collaborations and deals, scaling is the real test—access to capital, value-chain bottlenecks, and finding and retaining skilled talent could determine whether these solutions can move beyond pilots.
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The Income Tax Department has sent notices to senior executives, including CEOs and MDs of multinational companies, who earn over Rs 50 lakh. Authorities allege income underreporting and false exemption claims, focusing on undeclared foreign assets, overseas income, and inflated allowances. The move is part of a wider compliance push, with many asked to revise their tax returns.
In Majuli’s Pathorichuk village, Assam, residents are battling Brahmaputra riverbank erosion by planting Kanchan trees along the shoreline. The community-driven, eco-friendly method is being credited as a natural shield that helps reduce the river’s damage over time. It’s a low-cost, sustainable solution rooted in local nature-based action rather than engineering alone.
Global talent partner AMS is expanding its Pune Global Capability Centre, aiming to staff it with over 400 professionals by the end of 2026. The move is designed to meet rising demand from international markets, as India remains a top destination for GCCs. The Pune center will focus on client services delivery and analytics to support global operations.
With India’s consumer demand cooling and winter arriving less reliably, brands and retailers are still pushing inventory hard. The strategy bets that a weak season can still spark late demand spikes, but stretched stock and muted sales could squeeze margins fast. The real question: will early caution come, or will the gamble pay off when temperatures finally drop?
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DreamFolks is facing a sharper squeeze as airport and lounge operators build direct relationships with banks, moving away from the intermediary model that handled nearly 90% of lounge business last year. ICICI and Axis were early movers, and more major banks are expected to follow—potentially further shrinking DreamFolks revenue and influence.
The Reserve Bank of India has tightened rules for foreign-exchange markets, targeting non-deliverable forwards to reduce sharp rupee swings. New directives cap banks’ net open foreign-exchange positions and stop them from offering rupee NDF contracts, requiring existing exposures to be unwound and preventing fresh ones. The goal is to limit arbitrage and offshore influence, supporting rupee stability.
More Indian medical aspirants are shifting to the Philippines, drawn by affordable tuition, a US-style curriculum, and practical clinical exposure. Schools like Davao Medical School Foundation have recently enrolled large batches of Indian graduates. With the Russia-Ukraine conflict disrupting regional education plans, the move is accelerating, reflecting a wider global chase for medical careers among Indian youth.
The Centre has notified a framework for prepackaged insolvency resolution for MSMEs under the Insolvency and Bankruptcy Code. However, it has not yet set or notified the threshold amounts needed to trigger prepackaged insolvency. The move provides a legal pathway, but businesses may still face uncertainty until the key thresholds are announced.
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The Supreme Court’s latest ruling offers Vodafone relief, but the deciding factor may be what happens next. The government’s delayed support for Vodafone’s distressed position weighed heavily in the court’s reasoning, prompting questions about whether the case becomes a precedent for other telecom and financial disputes.
Elon Musk says Tesla’s Terafab AI chip project in Texas will use Intel’s 14A process. The planned complex, beginning early research fab construction at Giga Texas, targets chips for Tesla vehicles, Optimus robots, and AI data centers. If timelines hold, it signals Tesla’s push to control its compute supply for both products and future AI workloads.
Infosys crossed the $20 billion revenue milestone in FY26 and delivered strong profit growth, but its stock fell after Q4 results. The culprit was a cautious FY27 outlook, with revenue growth guided at 1.5%–3.5% and margins at 20%–22%. Investors signaled concern over slower deal-to-revenue conversion and demand softness.
Larsen & Toubro says it will deepen its role in India’s nuclear buildout, citing decades of involvement in technology development, manufacturing and localisation. The firm expects its revenues to triple within five years, tied to the government’s plan to expand nuclear capacity from about 8.8 GW today to 100 GW by 2047.
GST 2.0 reforms are aimed at fixing GST-related anomalies at the fibre level, cutting costs through yarn and fabric stages, and improving overall garment affordability. By boosting demand at the retail segment—especially products priced under Rs 2,500—the changes are also expected to strengthen export competitiveness for the MMF textile industry.
CBSE has released the provisional answer key for CTET February 2026 on ctet.nic.in. Candidates can compare their responses with the official key and, if needed, file objections during the open window. The issues raised will be considered while preparing the final answer key, which will then be used to compile CTET results.
VIDYA has acquired Nordexim MV International, a coffee manufacturing facility in Romania, aiming to expand its global footprint and route Indian coffee to international markets. The deal strengthens its integrated private label solutions, boosts its European presence, and is expected to improve supply-chain efficiency across regions, positioning the company for broader commercial reach.
The Allahabad High Court upheld a husband’s sale of a Noida flat for Rs 95 lakh, rejecting the wife’s claim that she contributed stridhan to the purchase. Finding no proof, the court ordered her to vacate the property and pay Rs 60,000 in monthly damages to the new owner for illegal occupation dating back to 2011.
New Zealand’s Accredited Employer Work Visa (AEWV) includes English proficiency requirements for certain roles. Applicants can meet the standard through recognized English tests, or by showing relevant work, study, or citizenship experience in English-speaking countries. Understanding which evidence counts can help skilled workers avoid delays and support smoother communication and integration in New Zealand.
India and Korea have signed a MoU to strengthen ties focused on MSMEs. The agreement sets up a structured framework for ongoing dialogue on key MSME issues and encourages both sides to look for mutually beneficial opportunities. The ministry said the MoU is meant to create continuity in cooperation rather than one-off discussions.
Mahindra & Mahindra is reportedly in advanced talks to upgrade its South African facility, potentially starting completely knocked-down (CKD) vehicle production. The plan targets growing demand for affordable cars while reducing dependence on imports and dodging possible tariff costs. By boosting local manufacturing, the company aims to strengthen its foothold and compete more aggressively as China-backed rivals gain market share.
Wonderchef expects sales to grow about 30% this fiscal, aiming for Rs 725 crore, but admits the pace has been uneven. While the first half showed better traction, the third quarter delivered only 7% growth and the March quarter was similarly weak, pulling overall growth to 22% instead of the planned 30%, according to Saxena.
Insurance companies cut stakes in five Nifty midcap stocks during the March to June 2025 quarter, pointing to changing investment strategies and softer confidence. The declines were seen across Marico, Coromandel, ITC Hotels, HDFC AMC, and Laurus Labs, raising questions about what sectors investors are now prioritizing.
Iran-linked missile and drone attacks on Dubai have rattled some wealthy Asians and entrepreneurs, prompting them to consider moving assets out of the Gulf. Advisers and lawyers say several are exploring transfers from Dubai to financial hubs like Singapore and Hong Kong as risk worries rise amid the war fears.
Shadowfax’s upcoming IPO looks set to deliver only modest listing gains, signaling caution over exuberance. The timing also matters: logistics has consolidated, and investors now scrutinize tech-enabled players more closely, with higher expectations shaped by lessons from earlier e-commerce-linked demand cycles.
Indian pharma’s US outlook has improved after years of pressure from price erosion and compliance hurdles. Drug shortages have temporarily slowed price erosion, while launches of key generic drugs have helped companies regain footing. Yet the real question is sustainability: will the same conditions hold, or will competition and supply normalization bring renewed margin stress?
Commerce Minister Piyush Goyal said multiple indicators show India is firmly on a growth path. He highlighted that goods and services exports reached USD 675 billion in 2021-22 and that GST collections in April hit an all-time high of about Rs 1.68 lakh crore, rising 20% year-on-year.
Delhi residents may soon see higher electricity bills after the Appellate Tribunal for Electricity ordered the regulator to begin recovering more than Rs 38,500 crore owed by power distribution companies. The tribunal rejected a request for a CAG audit and instead directed an independent chartered accountant. The recovery process must start within three weeks, raising pressure on consumers.
Saudi Arabia has tightened entry rules for Hajj 2026, barring people holding visit visas from accessing the holy cities and requiring official permits instead. Umrah visas are currently suspended. Authorities say the Hajj permit will be mandatory for entry to Mecca as Saudi moves to control crowds and improve safety during the pilgrimage season.
Iran says it has received its first revenue deposit from tolls charged to vessels passing through the Strait of Hormuz. Deputy Parliament Speaker Hamid Reza Haji Babaei stated the money has been credited to an account at the Central Bank of Iran, signaling an early step in Tehran’s plan to monetize transits of the strategically crucial waterway.
MSME entrepreneurs in Noida and Greater Noida say a recent rise in wages and overtime rules is pushing up operating costs faster than revenue can follow. They argue policy changes are out of sync with ground realities and are urging the government for financial relief through subsidies and other supportive measures to prevent margin pressure from worsening.
Robinhood’s Ventures Fund I is investing $75 million in OpenAI, the maker of ChatGPT. The deal is designed to help retail investors gain exposure to private technology companies, not just public markets. It also hints that earlier tensions between Robinhood and OpenAI are now resolved, as generative AI continues to dominate investor and media attention.
India is moving from exporting software services toward AI inference hubs, including offering tax holidays to foreign firms. The shift promises new revenue streams, but it risks shrinking demand for traditional coder roles. Policymakers are urged to redesign workforce plans—creating roles like AI supervisors—to keep India’s young talent from being left behind.
Cardiac surgeon Sudhir Prem Srivastava, credited with 1,500 successful robotic surgeries, explains how his five-armed Mantra system was conceived, designed, and instrumented. In an ET Prime interaction, he also argues that robotic surgery tech must become cheaper and widely available—because breakthroughs matter only when hospitals can afford them.
With international uncertainty rising, wealthy Indians are reconsidering overseas property bets. Market observers say some capital is starting to tilt back toward India’s mid and luxury residential segments, as NRIs explore diversification closer to home. Experts view Indian real estate as a stable long-term option, and demand signals like rising buyer enquiries reinforce the shift.
Union Budget 2026 left crypto taxation largely unchanged, retaining a 1% TDS levy and the existing restrictions on setting off losses. The crypto industry has reacted with disappointment, arguing these measures continue to discourage investors and active traders. With reforms expected by many in the sector, today’s fiscal update has fallen short of what participants hoped for.
Iran’s escalating strikes on Gulf energy infrastructure have pushed oil above $110 a barrel, including hits tied to Kuwait oil facilities and Abu Dhabi gas processing. The higher energy bill is quickly rippling into global markets, with Europe posting its sharpest inflation rise since 2022 while China’s factories face climbing input costs.
India and Russia have agreed under the Indo-Russian Reciprocal Exchange of Logistics Agreement to station up to 3,000 troops on each other’s territory at any given time. The pact also allows deployment of up to five warships and ten military aircraft per side, with an option to extend beyond the initial five-year term.
Union minister Nitin Gadkari urged India to build stronger post-harvest infrastructure, warning that surplus production will depress farm prices without cold storage, processing plants, and value-addition facilities. He also floated a bigger vision of farmers as future energy providers to cut import dependence, tying energy security to agricultural output and better supply chains.
Nestlé plans to reduce about 180 jobs in France as part of a broader global reorganization aimed at cutting costs and improving efficiency. The company says the changes focus mainly on research and development and support functions, not on employee performance. The move follows an earlier plan to eliminate up to 16,000 roles worldwide amid rising input, energy, and logistics costs and shifting consumer demand.
Bankrate data shows the share of credit card users carrying a balance has jumped to 46% from 39% a year ago. “Almost half of cardholders are carrying debt from month to month,” warns Ted Rossman, noting these carry costs are still very high. While lower-income users are likelier to carry debt, 37% of those earning $100,000+ also don’t pay in full monthly.
Cipla is moving forward with the sale of Afrezza, an insulin patients inhale from the mouth, aiming to offer a painless alternative to injectable insulin. The big question is whether this inhaled option can gain traction against entrenched global players and established injection-based routines in diabetes care.
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