Author: News Desk

India has reportedly put on hold a multi-billion-dollar plan to buy Boeing aircraft from the United States, after costs surged following new US tariffs. The $3.6 billion deal was meant to secure six additional Boeing P-8I maritime patrol planes, but defence sources say the government is now reassessing the purchase. Rising Costs Push Deal Into UncertaintyThe original agreement, cleared by the US State Department in 2021, was valued at $2.42 billion. Since then, prices have risen sharply due to inflation, supply chain disruptions, and most recently, a 25% tariff imposed by US President Donald Trump at the start of August.…

Chief Minister Mohan Yadav announced that Defence Minister Rajnath Singh will perform the Bhoomi Pujan and lay the foundation stone for the BRAHMA (BEML Rail Hub for Manufacturing) project on August 10 at Obaidullaganj in Raisen district, about 25 km from Bhopal. Union Agriculture Minister Shivraj Singh Chouhan will attend in person, while Railways Minister Ashwini Vaishnaw will join virtually. Major Investment and Job CreationThe BRAHMA facility will be built with an investment of around Rs 1,800 crore. Spread across 60.0630 hectares in Umaria village, it will manufacture railway and metro coaches for Vande Bharat, Amrit Bharat, and metro trains.…

India’s gems and jewellery industry is facing a major challenge after US President Donald Trump announced a steep hike in import tariffs. The duty on Indian jewellery has been doubled from 25% to 50%, a move that industry leaders are calling “doomsday” for the sector. The US is India’s biggest market for polished diamonds and studded jewellery, buying around $10 billion worth each year. With the new tariff, Indian exporters fear they will lose a large share of this market, leading to falling sales, factory closures, and job losses. To deal with the crisis, companies are now exploring ways to…

Taiwanese electronics manufacturer Foxconn has sold its electric vehicle (EV) manufacturing facility in Lordstown, Ohio, to Crescent Dune LLC for $88 million. Regulatory filings confirm that Foxconn, which describes Crescent Dune as an existing business partner, will continue EV production at the site without interruption. The company intends to reinvest the proceeds from the sale into its expansion of EV and advanced manufacturing operations within the United States. This move aligns with Foxconn’s broader U.S. growth strategy: liquidating the asset while maintaining operational access, repositioning for greater flexibility in product lines, and doubling down on EV and manufacturing ambitions. Foxconn…

The UAE and Oman are laying down tracks for something big: the first rail link crossing their shared border. It’s called Hafeet Rail, named after the rugged mountain range that straddles both countries. This is a joint venture between Etihad Rail, Oman Rail, and Mubadala Investment Company. With a $2.5 billion price tag (960 million Omani rials), the new 303-kilometre railway will connect Sohar Port in Oman to the Etihad Rail network in Al Ain. Of that, 238 km will run between Sohar and Abu Dhabi — cutting today’s road journey down to just over an hour and a half.…

Indian Rockets Are in ‘Great Demand’ Globally, But We Are Short of Manufacturing Capacity, Says Ex-ISRO Chief India’s space technology is making waves globally, but the country’s limited manufacturing infrastructure is holding it back, said former ISRO Chairman S Somanath on Monday. Speaking at Accel’s Advanced Manufacturing Summit in Bengaluru, Somanath remarked that Indian rockets are in “great demand” internationally, but the nation’s current manufacturing capacity can’t meet that demand. “Indian rockets are in great demand. But the problem is availability — it’s controlled by our ability to manufacture in numbers,” said Somanath during a panel discussion focused on India’s high-tech manufacturing ecosystem. He emphasised that spacecraft…

Centre Spent ₹1,500 Crore on Ministry Rent, Not Anymore: PM Modi at Kartavya Bhavan Prime Minister Narendra Modi on Wednesday inaugurated Kartavya Bhavan at Kartavya Path in New Delhi, marking a pivotal moment in the government’s Central Vista redevelopment plan. In a strong statement on administrative reform, PM Modi revealed that the Centre had been spending ₹1,500 crore annually on rent for ministry offices scattered across Delhi, a practice that will now end with the new infrastructure. “Many ministries of the Indian government are being run from 50 different locations in Delhi. Most of these are in rented buildings, with an annual rent cost of ₹1,500…

Swiggy is poised to exit its investment in Rapido, the rapidly growing ride-hailing platform, aiming to raise ₹2,500 crore ($300 million) by selling its 12% stake through a secondary share sale. The move marks a 2.5X return on the ₹950 crore ($120 million) investment Swiggy made in 2022 as part of a $180 million funding round it co-led. Rapido’s Valuation Surge and Expansion Plans Rapido’s valuation has surged to an estimated $2.7–3 billion (₹23,000–26,000 crore), up from $1.1 billion a year ago. The sharp increase in valuation is driven by: With its GMV now outpacing Uber and Ola in select…

Kuok Khoon Hong, widely known as Asia’s “Palm Oil King,” has solidified his control over Adani Wilmar Ltd (AWL) following the Adani Group’s strategic divestment. With the completion of the deal in July 2025, Wilmar International now holds a 64% majority stake, paving the way for accelerated growth in India’s consumer goods and agriculture sectors. The Adani Group had initially announced its intention to exit the edible oil joint venture with Wilmar in December 2024, as part of a broader strategy to refocus its portfolio on core infrastructure sectors such as renewable energy, logistics, and transportation. Kuok, 76, is the…

India and the Philippines have officially elevated their bilateral relationship to a strategic partnership, signing 14 landmark agreements and announcing significant travel-related developments—including visa-free entry for Indian tourists, free e-visas for Filipinos, and direct Air India flights between Delhi and Manila starting October 1, 2025. These announcements came during the state visit of Philippine President Ferdinand Marcos Jr. to India, where he met with Prime Minister Narendra Modi and President Droupadi Murmu. The leaders underscored a shared vision for expanded cooperation in defense, technology, space, and people-to-people exchanges. Strategic & Defense Agreements Signed: Travel & Tourism Boost: Air India will…