Stories from earlier this week and beyond.
DMK leaders in Chennai passed a resolution condemning Congress for moving away from the secular progressive alliance, accusing the party of “betraying” the coalition. The resolution also targets Congress’s political conduct, saying it has failed to change its “old political character,” as the meeting points to Congress joining hands with TVK.
Karnataka’s tech ecosystem raised $868 million in the first quarter of 2026, down 16% from the previous quarter but up 7% year-on-year. Investors are shifting toward fewer, larger deals. Bengaluru captured 98% of the capital flow, leaving little for other cities. Three Karnataka companies also went public during the period.
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Microsoft’s latest report says generative AI is now used by 17.8% of the world’s working-age population, but the adoption gap keeps growing. In Q1 2026, 27.5% of people aged 15–64 in developed countries used generative AI, versus 15.4% in the developing world. The divide widened by 1.5 percentage points from late 2025.
Industrialist Anand Mahindra praised Naandi Foundation and Urban Farms Co. for driving regenerative, chemical free vegetable farming. Thousands of farmers are moving away from chemical intensive agriculture, and nearly 2,000 have already completed a season without synthetic fertilizers or pesticides while protecting yields and lowering costs. The effort aims to connect urban India through a nationwide regenerative food grid.
Skyroot Aerospace has crossed a major milestone, becoming India’s first spacetech unicorn after its latest funding round. In the same ETtech Top 5 roundup, another trend stands out: the AI pay gap is growing, signaling widening differences in how technology skills are rewarded across roles and talent pools.
Eleven Indian ships have already exited the Strait of Hormuz, while 13 remain in the Persian Gulf. The MEA says diplomatic talks with Iran are underway to ensure the safe passage of the remaining vessels to India. Indian seafarers in the region are reported safe, and there have been no recent incidents involving Indian-flagged ships.
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Toronto police say they have arrested a crew accused of using an SMS blaster to send malicious messages to thousands of people across the city. Authorities call it the first known instance of an SMS blaster being used in Canada, signaling a potential shift in how scams and cyber harassment can scale through mass texting.
Skyroot, the Indian rocket startup, has emerged as the country’s first space technology unicorn as it prepares for India’s first private orbital launch. Its valuation has reportedly more than doubled since 2023, underscoring fast-growing investor confidence in NewSpace ambitions and raising expectations for a landmark milestone in India’s commercial space race.
AI translation firm DeepL says it will cut about 250 employees, roughly a quarter of its workforce, attributing the move to rapid AI improvements that are making some roles redundant. The CEO frames it as a structural job-market shift as automation boosts productivity and simplifies tasks, echoing layoffs seen across other industries moving toward AI-driven work.
India and Vietnam have agreed to strengthen cooperation in AI, cybersecurity, and semiconductors during bilateral talks, with a shared focus on innovation and research. The partnership is expected to unlock new opportunities for entrepreneurs and researchers through joint projects and startup exchanges, aiming to accelerate technological and economic gains for both countries.
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McDonald’s reported first-quarter sales that beat expectations, crediting a new burger and an ongoing focus on value. The company’s strategy is drawing customers by combining fresh menu momentum with price-sensitive offers. Market watchers will now look for whether the sales gains can sustain in the quarters ahead as competitors respond and consumer demand shifts.
New BJP MLA Ratna Debnath of Panihati has captivated West Bengal with a hard-hitting message against compensation politics. In a moving interview on R-Bangla, she said she would rather give away her daughter’s wedding gold than accept “crores.” Debnath, who campaigned with a personal vow after her daughter’s death and broke a long-standing TMC hold, framed grief as resilience, not bargaining.
Datadog has raised its annual outlook after beating Wall Street estimates in its first quarter. The company points to strong demand for its cloud security products, helped by accelerating AI adoption. With higher revenue and profit now expected for 2026, the market responded positively, sending shares up 29 percent.
The Bengaluru High Court has extended a stay on an FIR tied to the Sringeri vote recount until June 3. The case centers on BJP MLA DN Jeevaraj and election officials KN Ramesh and Vedamurthy, with the FIR lodged over allegations of electoral malpractice. The accused get temporary relief, while Congress signals it will challenge the revised election results.
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IndiGo has announced it will begin commercial operations from Noida International Airport in Jewar on June 15, 2026. The airline will run the inaugural flights on routes including Lucknow to Noida, Noida to Bengaluru, Bengaluru to Noida, and Noida to Lucknow. IndiGo is set to be the first carrier operating out of the newly built hub.
Kennametal India’s Q4 revenue jumped 39% to Rs 403 crore, while net profit doubled to Rs 51 crore, driven by strong demand for hard metal products and volume expansion. Though rising raw material costs pushed up expenses, the company pointed to improved supply chain management. It also declared an interim dividend for shareholders.
In Thiruvananthapuram, Congress MLAs have passed a resolution empowering the AICC leadership to choose Kerala’s next chief minister. Party observers met lawmakers individually to gauge their preferences and compile a report for AICC decision makers. Senior Congress leaders are reportedly heading to Delhi to finalize the name, with an announcement expected soon.
India’s Statistics Ministry has issued uniform guidelines to calculate Gross State Domestic Product using a revised base year of 2022-23. The update brings all states and Union Territories under one standardized framework, improving consistency and accuracy in regional economic estimates. With the new baseline, comparisons of growth and performance across regions are expected to become more reliable and meaningful.
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Dr Reddy’s has joined forces with Nestle Health Science to roll out Celevida GLP+, a nutrition supplement designed for people managing type 2 diabetes and obesity while on GLP-1/GIP therapy. The collaboration aims to address day to day nutritional challenges that can emerge during treatment, adding a targeted option beyond standard diabetes and weight management care.
An Israeli airstrike in Gaza killed the son of Hamas chief negotiator Khalil Al-Hayya, as Hamas leaders met in Cairo to discuss a truce and the future of Gaza. Hamas said the strike undermines peace efforts, noting this was the fourth son of Al-Hayya killed in Israeli attacks. The timing raises fresh doubts over the talks.
Tamil Nadu Lok Bhavan says Governor Rajendra Vishwanath Arlekar met TVK chief C Joseph Vijay for the second time and told him the party has not secured a majority to form the government. TVK won 108 seats in the April 23 polls, short of the 118-seat mark. Congress has offered support to TVK as discussions continue.
China’s Moonshot AI has raised $2 billion at a $20 billion valuation, signaling investor appetite for fast-growing AI services. The startup says annualized recurring revenue surpassed $200 million in April, powered by rising paid subscriptions and increased API usage. The move underscores how open-source friendly demand is accelerating in China’s AI market.
US jobless claims increased slightly less than analysts expected, pointing to a resilient labor market. Despite pockets of tech-related cuts, overall layoffs remain low and job openings continue to outnumber unemployed workers. With hiring still steady and no clear spillover from oil price shocks, the data suggests stability rather than strain.
Delhi is set to expand its air quality monitoring network with 13 new stations this year. The Delhi Pollution Control Committee will develop 10, targeting October for operations, while the Indian Institute of Tropical Meteorology will manage three more. The move is designed to improve pollution data collection across the city for better tracking and response.
Meta has filed legal action against Britain’s media regulator Ofcom, contesting how online safety fees and penalties are set under the Online Safety Act. Ofcom says Meta objects to payments determined using the company’s qualifying worldwide revenue. Ofcom says it will vigorously defend its decision-making and reasoning as the dispute moves forward.
The Delhi High Court has asked singer Honey Singh to file an affidavit in connection with allegations that he sang an objectionable song during a performance at Indira Gandhi Stadium in 2025. The petition was moved by Hindu Shakti Dal. Honey Singh’s counsel denied the claim, saying that if it happened, there should be an audio or video clip.
Mumbai police say a family of four died due to zinc phosphide poisoning, a highly toxic rat poison, overturning early suspicions that the deaths were caused by eating watermelon. Forensic tests detected traces of the chemical in the victims’ viscera. Investigators are now trying to determine whether the poisoning was accidental or deliberate.
Adani Green Energy Limited has set up fresh companies to drive clean power generation. The step-down subsidiaries were incorporated through its wholly owned unit, Adani Renewable Energy Sixty Four Limited, and are designed to focus on renewable generation. The move reinforces Adani Green’s role in developing and operating solar, wind, and energy storage solutions.
Duke Energy must refund a 90.5 million overcharge tied to 2024 hurricane recovery costs, affecting millions of US households. Regulators found nearly 1 billion was collected, while about 915.3 million was actually spent on restoration. Starting June billing cycles, the refund will automatically lower electricity rates without customer action, delivering modest summer savings.
India and Australia are shifting from strategic alignment to practical defence industrial cooperation, but experts warn that intent must become action. They call for implementation-focused partnerships, co-development, and joint innovation to strengthen sovereign capabilities in the Indo-Pacific. Deeper industrial ties, they say, will support regional stability and improve the security architecture.
Spotify is plotting a new kind of audio creation workflow: users will be able to generate podcasts using AI agents like Codex or Claude Code, then import the finished audio into Spotify. The move pushes Spotify beyond listening into personal production, turning the platform into a hub where AI helps users draft and package content.
South Korea has introduced Gabi, its first humanoid robot monk, at Seoul’s Jogye Temple ahead of Buddha’s birthday. The 130-centimetre robot appeared in traditional attire and performed gestures including folding its hands and bowing before Buddhist monks, closely matching ritual customs. The unusual mix of spirituality and AI has drawn widespread attention online.
A massive dust storm struck Thane and nearby areas on Thursday evening, prompting a high alert across Mumbai and the broader region. Officials warn that heavy rain and lightning could follow, with the alert expected to impact conditions in the coming hour. Locals shared videos online, showing reduced visibility as the storm moved through the area.
Coforge’s CEO argues AI is reshaping traditional IT services but won’t shrink the overall market. The company reported strong March quarter results, including net profit doubling. Coforge says AI is generating new high-margin business opportunities, likening the shift to earlier cloud migration waves, with expectations of wider market expansion and better margins as adoption grows.
Bagmane Prime Office REIT, backed by Blackstone and the Bagmane Group, has drawn a record 2 lakh applications in its Rs 3,405 crore IPO. The issue saw strong oversubscription and unusually high investor participation, reflecting demand for premium Bengaluru office assets with high occupancy and global technology tenants ahead of its market listing.
Alpha Corp Development Ltd plans to pour nearly Rs 900 crore into three stalled housing and commercial projects across Greater Noida and Gurugram. The move is expected to bring tangible relief to over 3,000 existing customers by restarting development and completing long-delayed work in the Delhi-NCR region.
Kissht’s parent OnEMI Technology Solutions is set to list after an IPO that was oversubscribed 9.5X. Early investors booked gains through offloading shares via OFS. Ammar Sdn Bhd made ₹19.8 Cr, Vertex Ventures sold shares worth ₹29.2 Cr, while Ventureast reported three funds delivering up to 10.9X returns. The valuation at the upper price band nears ₹2,881 Cr.
Tata’s AI push includes a massive 4.7 billion investment tied to a company that remains largely under the radar. While the spotlight often goes to headline-grabbing projects, this quietly funded effort is building momentum behind the scenes. The size of the commitment raises questions about how quickly Tata plans to translate AI into real products and markets.
Kolkata Police have issued a stern advisory on X after noticing misleading posts and videos spreading on social media about West Bengal and Kolkata. The force says preliminary verification shows the visuals originated from other locations and are not connected to the state or city. Police warn citizens against sharing such misinformation and indicate legal action against those responsible.
The government has launched ECLGS 5.0 to support MSMEs and the airline sector, providing extra credit of Rs 2.55 lakh crore. State Bank of India is expected to play a major role, with Chairman CS Setty indicating SBI could contribute roughly Rs 70,000 crore to Rs 80,000 crore, aiming to accelerate recovery and sustained lending.
Assam BJP president Dilip Saikia announced that Himanta will take oath as the state’s Chief Minister on May 12 at 11:00 AM at Khanapara Field in Guwahati. Prime Minister Narendra Modi is set to attend as Chief Guest. The BJP said senior party leaders including Home Minister Amit Shah and national president Nitin Nabin will also be present.
India’s shipping ministry has extended a key subsidy for Indian companies that flag merchant ships, pushing the scheme’s timeline to FY2030-31. The move is designed to strengthen India’s maritime fleet and expand its global shipping role, while offering financial backing to shipping firms participating in government cargo tenders.
Uttar Pradesh’s “One District One Dish” list has triggered backlash after it reportedly includes no non-veg dishes, leaving out signature Nawabi foods like Lucknow’s galouti kebab and avadhi biryani. Critics say the veg-only approach overlooks dishes that made the state famous, while officials defend the initiative. The omission has reignited debate over how culture and cuisine are represented in state lists.
SEBI has discontinued the Investor Risk Reduction Access (IRRA) platform for stock brokers with immediate effect. The regulator said the system has become redundant as the securities market has strengthened business continuity and cyber resilience frameworks. The move signals tighter reliance on updated risk and resilience mechanisms rather than a separate access platform for brokers.
India and the European Union discussed mobility and migration on the sidelines of a UN forum, reviewing cooperation under an earlier framework. Minister of State Kirti Vardhan Singh met EU Commissioner Magnus Brunner to focus on smoother legal pathways for Indian professionals and students, including support linked to the newly launched European Legal Gateway Office in New Delhi.
HDFC Bank has revised its Marginal Cost of Funds Based Lending Rates effective May 7, 2026. Borrowers on loans linked to the MCLR regime will see some tenures fall by up to 5 basis points, while the 3-year MCLR increases by 5 basis points. Overall MCLR now sits between 8.05% and 8.60%.
An IndiGo flight from Delhi to Patna was diverted to Lucknow late Wednesday night after severe turbulence and worsening weather near Patna airspace. IndiGo flight 6E6497, carrying about 181 passengers, landed safely at Chaudhary Charan Singh International Airport around 10:49 PM as a precaution. Authorities said the diversion was made amid deteriorating conditions to ensure passenger safety.
Samajwadi Party chief Akhilesh Yadav met West Bengal CM Mamata Banerjee at her Kolkata residence in a closed-door meeting attended by Abhishek Banerjee. While BJP’s state win dominated headlines, the interaction stayed upbeat, with Yadav telling Mamata, “Didi, you have not lost.” Earlier, he alleged the BJP undermined democracy, coerced voters and used excessive central forces during polling.
The Comptroller and Auditor General (CAG) is conducting a special audit of 101 cities to assess citizens’ ease of living, with a focus on transport and logistics. The effort is linked to discussions on urban mobility at the BRICS summit in Bengaluru. The government argues that strong, integrated mobility systems—beyond just infrastructure—are critical for jobs and GDP growth.
The Supreme Court has directed mediation in a family estate dispute between Priya Kapur and Rani Kapur. Following the court’s suggestion, both parties agreed to resolve the matter outside the traditional courtroom. The process will be overseen by former Chief Justice of India DY Chandrachud, with the court stressing privacy due to the personal nature of the conflict.
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