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A magnitude 6.0 earthquake struck the southeastern region of Afghanistan on Sunday, the German Research Center for Geosciences (GFZ) reported.The quake occurred at a depth of 10 km (6.2 miles), according to GFZ, and tremors were also felt across parts of India, including Delhi-NCR.Independent Scientific Organization and provider of real-time earthquake info EMSC on X said that the earthquake occured at 28 km NW of Bāsawul in Afghanistan at local time 23:47:36. Many users took to the social media platform X to share their experiences."Felt the tremors just now in Delhi-NCR. Lasted a few seconds but quite noticeable," one user wrote.Another shared a video showing a ceiling fan shaking during the tremors.— voting_india (@voting_india) Afghanistan has a history of powerful earthquakes, and the Hindu Kush Mountain range is a geologically active area where quakes occur every year, according to the Red Cross. It sits on numerous fault lines between the Indian and the Euras...

Domestic steelmakers have urged the government to impose a minimum import price, seeking further support as prices remain under pressure despite a 12% interim safeguard duty. The levy is inadequate amid falling global prices, said industry executives.The move comes ahead of the interim duty expiring next month.According to data shared by local manufacturers with the Centre, hot rolled coils (HRC), the benchmark product, has been trading at 10-15% lower than the ₹52,900 per tonne since the safeguard duty was imposed.Sector watchers say major Indian steel producers can manage net profit margins of just 2.1-2.3%, dipping in some quarters to as low as 0.3%."The industry will need extended support to continue investing to meet steel output goals," a company representative said on condition of anonymity.Increasing safeguard duty isn't the only measure to provide support to the domestic industry, according to analysts, who said the Centre needs to protect consumers as well....

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Tennis features a fiendish scoring system and at-times ambiguous rules. It feels designed to cause irritation and aggravation like few other sports. The handshake at the end of a match is its apex. Two elite athletes who have spent the previous few hours on a rectangular battlefield with tensions gradually ratcheting up are then provided with the perfect incubator for all of those simmering resentments, in the name of politely saying "well done." Wednesday at the U.S. Open, Jelena Ostapenko, the tennis player most synonymous with fractious handshakes, furiously confronted Taylor Townsend at the end of their second-round match. Ostapenko, who had just been beaten, 7-5, 6-1, told Townsend she should have apologized for a shot that clipped the top of the net but stayed in play, known as a net cord. Townsend said she did not have to apologize before Ostapenko appeared to repeat the phrase "you have no education" three times. Townsend walked away, shook hands with the ch...

Paris: Star Indian shuttlers Satwiksairaj Rankireddy and Chirag Shetty assured India of a medal at the World Championships after defeating their nemesis, Malaysia's two-time Olympic medallists Aaron Chia and Soh Wooi Yik, in the men's doubles quarterfinals here. A year after the heartbreak in Paris, where they lost to the same pair and missed out on an Olympic medal, the world No. 3 duo produced a commanding 21-12, 21-19 win in 43 minutes to avenge that loss and storm into the semifinals late on Friday night. "Feeling really good. It was a rematch of sorts from the Olympics. And I think we finally got some redemption. It was the same court, same arena. A year back exactly. Olympics and now World Championships," Chirag said after the match. "It's always a pleasure playing against them. We've always had some really tough battles. At the biggest of events. And really happy we could win today." It will be Satwik and Chirag's second medal at the prest...

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Brands and retailers are flagging some restrictions on the hitherto easy availability of consumer finance ahead of the festive season, especially for consumers who have multiple loans and are staying in localities with high default rates.Banks and non-banking finance companies (NBFCs) are not giving easy credit to such consumers as they want to control loan loss and improve credit quality, instead of just pursuing volume, they said. This, industry executives said, is affecting their business.Tata Group AC manufacturer Voltas' chief financial officer, KV Sridhar, told analysts this month that the consumer durables sector was experiencing headwinds, including tightening of credit flow.123570167In Karnataka, NBFCs have completely blocked over 700 localities, including more than 200 in Bengaluru itself, with high default cases after the state government earlier this year brought in a law that prohibits finance institutions from using coercive tactics to recover loans, industry executiv...

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Auto parts makers in India are weighing options to diversify into other markets besides setting up plants overseas to navigate the effects of 50% tariff. Nearly half of India's auto parts exports to the US will attract the new duty effective today, doubling from the 25% tariff implemented from August 7. This is expected to impact exports worth $3.08 billion to the US, the largest destination for Indian auto parts. Components for cars and small trucks valued at $3.58 billion will continue under the existing 25% duty."The 25% tariff was already a disability, but 50% makes it almost impossible to do business with US customers under current circumstances," said a senior executive at an auto parts maker asking not to be named. "We are left with no choice but to evaluate other markets or rethink our manufacturing footprint."123532653Indian companies shipped $6.6 billion worth of auto parts to the US in 2024. Companies are now exploring whether manufacturing for the US...

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Mumbai: Bank of India (BoI) has declared the loan accounts of Reliance Communications (RCom), its Reliance Telecom subsidiary, former promoter Anil Ambani and some directors fraudulent.Documents uploaded by RCom in stock exchange disclosures show that the total outstanding loans of ₹725 crore had been declared fraudulent. According to the state-run bank, the company invested the money in mutual funds and fixed deposits instead of using it to buy spectrum, for which it was sanctioned.The country's largest lender, State Bank of India, had last month declared RCom's account fraudulent.The BoI letter addressed to RCom, Anil Ambani and director Manjari Kacker said the accounts turned non-performing on June 30, 2017. Since then, the bank has been following up with the borrowers and guarantors for repayment, it said."However, they have failed and neglected to make repayment of the dues," it said.The bank said it conducted a forensic audit of the accounts through BDO India an...

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India Post recently announced that its Registered Post service, revered for legal proof and heartfelt messages, will retire on September 1, merging into Speed Post. In our office, the younger generation reacted with a “what service is that again?”, even as the oldies reminisced about “acknowledgment cards.”That brought us here. Once upon a time, before swipe-rights and ChatGPT, there was a world where the loudest sound in a household was the screech of dial-up internet, where letters came folded in blue aerogrammes, and where an entire family’s weekend plan hinged on whether the Doordarshan antenna faced the right direction. Before emojis, there were pager codes. Before Spotify, there was the mixtape cassette. Before Google Maps, there were fold-out atlases that never folded back in the same way. Here is a throwback list of things the younger lot may never know, but which once ruled the daily lives of your folks, when they were young.A Guide to Millennial ChildhoodsAirplane ticket book...

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The share of bad loans is expected to remain at a 15- year low of around 2.3%– 2.4%, in FY26 as pressure from unsecured personal loans and microfinance institutions (MFIs) is offset by corporate deleveraging and a continued decline in the gross non-performing assets (GNPA), as per a report by Care Ratings. As of the June 2025 quarter, system-level GNPA ratio had declined to 2.3%, compared to 2.7% a year ago. GNPA of the banking system reduced by 9.5% year-on year (y-o-y) to Rs 4.18 lakh crore as of Q1FY26. Though bad loans of private sector banks rose by 7.6% y-o-y, driven by an increase in slippages and stress in the microfinance portfolio. Saloni Shukla takes a look at the asset quality situation in the banking sector. 123439713 from Economic Times https://ift.tt/aYzouH5

On the surface, the new USCIS policy memorandum on Good Moral Character (GMC), issued August 15, 2025, appears to be a welcome return to a more flexible, case-by-case evaluation for naturalization applicants. It rescinds a prior, more rigid policy and speaks of a "holistic and comprehensive" review. However, a closer reading of the text reveals a standard that could be interpreted as more rigorous and fraught with uncertainty for the applicant. There is reason to worry.Also Read| Waiting for US citizenship? Immigration authorities to now scrutinize applicants’ good moral characterThe fundamental shift appears to be this: it may no longer be enough to simply lack a criminal record. The new policy explicitly states that an absence of “bad deeds” does not, by itself, equate to good moral character. This could place a new, affirmative burden on every applicant to prove their worthiness for citizenship. USCIS officers now appear to be directed to actively look for positive attribu...

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The National Housing Bank is tightening oversight of housing finance companies for breaching loan-to-value (LTV) norms on high-value home loans, two people aware of the development told ET. Supervisory inspections by the mortgage regulator found cases where loans above ₹s75 lakh were sanctioned at up to 90% LTV, in violation of the 75% cap. The National Housing Bank (NHB) has directed individual lenders to reclassify such advances as non-home loans (NHL)."The regulator has taken cognisance of a few mortgage lenders disbursing higher amounts on loans for high-value residential apartments," said an official aware of the NHB cautions. "The NHB has sent communications to these companies to stop such practices and classify them as non-home loans."As per existing rules, loans of up to ₹30 lakh can have an LTV of up to 90%, those between ₹30 lakh and ₹75 lakh up to 80%, and loans above ₹75 lakh up to 75%. The scrutiny is also influencing market transactions, with HFCs purc...

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The number of bottom-of-the-pyramid borrowers taking loans from four or more lenders has come down 44% from a year ago, reflecting the impact of prudential lending in the most vulnerable economic strata where mounting delinquencies dented the performance of Indian lenders in the last five quarters.The number of such borrowers queuing up at more than three financiers fell to 3.1 million at the end of the June from 5.7 million a year ago, showed the CRIF High Mark data, illustrating the efficacy of a three-lender exposure cap that took effect from the start of this fiscal. The latest count represents about 4% of an active borrower base of 79.8 million.The 3.1 million customers, who could be considered 'higher risk' have ₹35,712 crore of outstanding borrowing between them at the end of June. That amounts to about a tenth of the sector's outstanding loan portfolio of ₹3.6 lakh crore.The portfolio relating to borrowers transacting with more than three microfinance lenders remain...

Russia does not consider the deployment of NATO troops in Ukraine a viable solution to the conflict, and views recent statements from the UK on the matter as provocative, the Russian Foreign Ministry said. "At a time when there is a genuine push for a comprehensive, fair, and lasting resolution to the conflict around Ukraine, including addressing its root causes, statements continue to emerge from London that not only contradict the efforts of Moscow and Washington, but also appear aimed at undermining them," the ministry said. from Economic Times https://ift.tt/J43fuM2

MUMBAI: India's apex tax body has asked the cryptocurrency players whether the country needs a new law on virtual digital assets (VDA), which agency should administer such a statute, and whether the present tax regime has driven out traders and businesses to foreign shores. Crypto platforms have been also asked by the Central Board of Direct Taxes (CBDT) if the 1% tax-deducted-at-source (TDS) on every sale was too high, what should be the preferred TDS rate and why, and whether traders should be allowed to set off VDA losses to make the levy more equitable.A flurry of such questions, raising several other issues on the travails of the trade, have stoked hopes in the crypto industry which has been battered by stiff taxes, regulatory void, and Reserve Bank of India's customary aversion towards cryptos.Not only are crypto gains taxed at the income tax rate of 30% (unlike the lower capital gains tax on stock profits), VDA traders can't offset profits with losses to lower the ta...

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President Donald Trump has indicated that the US may not impose secondary tariffs on countries continuing to procure Russian crude oil.There were apprehensions that additional secondary tariffs would have hit India in case the US decided to enforce them."Well, he (Russian President Vladimir Putin) lost an oil client, so to speak, which is India, which was doing about 40 per cent of the oil. China, as you know, is doing a lot...And if I did what's called a secondary sanction, or a secondary tariff, it would be very devastating from their standpoint. If I have to do it, I'll do it. Maybe I won't have to do it," Trump said on Friday.The US president made the remarks in an interview with Fox News aboard Air Force One en route to Alaska for a high-stakes summit meeting with Putin. The meeting concluded without any agreement on ending the Russia-Ukraine war.123338005On Wednesday, US Treasury Secretary Scott Bessent had said if "things don't go well" betwee...

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Mumbai: The growing popularity of weight-loss drugs Mounjaro and Wegovy may open new growth avenues for non-pharma businesses like textiles, apparel, fitness chains, and food and beverages, besides boosting wellness services such as dental care, aesthetics, dermatology, cosmetology, and plastic surgery.Around 100,000 people in the country are estimated to be using these drugs and the figure is expected to surge to 1.2 million within two years, driving demand across the industries."Made-to-measure and custom tailoring is a trend that will intensify," said Neeraj Nagpal, chief business officer, apparel and retail, at Raymond Lifestyle.The apparel maker is weaving health-consciousness into its design strategy - to address a possible rise in demand for "a sharper look" post weight loss."We have the ingredients, infrastructure, process, knowhow and we have the experience and legacy of delivering at scale to ride on where the wind blows," Nagpal said.Places like...

The Solar Energy Corporation of India (SECI) on Tuesday cancelled two offshore wind energy tenders-a 500 MW project under the viability gap funding scheme and a 4,000 MW sea-bed lease rights allocation. According to two people familiar with the development, the tenders were cancelled because of "lack of response from developers". The company had invited proposals for setting up a 500 MW inter-state transmission system-connected offshore wind project in Gujarat on build-own-operate basis where it would enter into a power purchase agreement with the successful bidder for 25 years. The successful bidder would have had to undertake surveys of seabed and associated development activities required for validation of available data sets towards financial closure. However, the SECI may float a revised tender, although it has yet to take a decision, according to one of the persons."There may be some changes. The idea is not off," said the person. "It (the project) has no...

State Bank of India (SBI) has stopped processing trade and foreign currency transactions of Nayara Energy over potential sanctions after US tariff increases late last month. The bank took the call to ensure it doesn't invite US and European Union curbs, a person familiar with the issue said."This call has been taken by the bank very recently after the US sanctions to ensure compliance with international rules," said the person cited above. "There has been no government direction, but every bank has to take a call on how to deal with these issues and SBI has done so."In August 2017, a consortium lead by Russian oil major Rosneft acquired Essar Oil's 20 mtpa Vadinar refinery and renamed it as Nayara Energy. The company imports crude oil from overseas and currently has a market share of about 8% of India's refining output that, at more than over 256 MMTPA, is the second largest in Asia. Nayara also has more than 6,500 fuel pumps across the country.Nayara, l...

US President Donald Trump said Monday that gold imports will not face additional tariffs, days after confusion flared on whether his recent duty hikes applied to certain gold bars, threatening to upend global trade of the precious metal."Gold will not be Tariffed!" Trump said on his Truth Social platform, without providing further details. Last week, US customs authorities issued a letter saying that gold bars at two standard weights -- one kilogram and 100 ounces (2.8 kilos) -- should be classified as subject to duties.The turmoil in the bullion market emerged after a White House official suggested last week that the Trump administration would issue a new policy clarifying whether gold bars would face import taxes. from Economic Times https://ift.tt/0XsP26o

Mumbai: Public sector banks in India have stepped up retail lending, outpacing the growth seen in this segment by their private sector peers, who have retreated in the backdrop of an uptick in delinquencies, particularly in unsecured loans.Results for the June quarter show that the growth in retail loans of large public sector banks was almost double that of the private sector lenders. This was on the back of a larger customer pool, lower delinquencies and better pricing power due to higher proportion of retail deposits.State Bank of India (SBI) recorded a 13% year-on-year growth in retail loans, maintaining its fast pace, while Bank of Baroda (BoB) and Punjab National Bank (PNB)--the two other large public sector banks--reported 18% and 12% y-o-y growth, respectively.In comparison, ICICI Bank recorded 7% y-o-y growth while HDFC Bank and Axis Bank saw 8% and 6% growth, respectively.Anand Dama, head of BFSI (banking, financial services and insurance) research at Emkay Global Financial s...

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Buenos Aires: Couples in Buenos Aires cancelled weekend plans to tune in. Friends crammed together on couches, and family chats buzzed with updates. But the spectacle - the talk all over Argentina, with more than 1 million viewers - was not a Lionel Messi soccer match or a presidential debate.It was a live video of crustaceans, sponges and sea cucumbers crawling, creeping and just lolling around the Mar del Plata canyon, off the Argentine coast.The livestream over the past week has transformed a marine exploration project into an internet sensation and shellfish into unexpected standard-bearers for those who oppose President Javier Milei's threats to cut and privatise state-funded science.The marine project, led by scientists from Conicet, Argentina's national scientific council, has reached the front pages of national newspapers, become a talking point on TV shows and been projected on the walls of a nightclub in Buenos Aires. Viewers have adopted a purple sea cucumber as thei...

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US President Donald Trump Wednesday signed an executive order imposing an additional 25% tariff on India for its imports from Russia. A look at all his announcements related to tariffs on various countries:Aug 6- U.S. President Donald Trump's tariff decisions since he took office on January 20 have shocked financial markets and sent a wave of uncertainty through the global economy. Here is a timeline of the major developments: February 1 - Trump imposes 25% tariffs on Mexican and most Canadian imports and 10% on goods from China, demanding they curb the flow of fentanyl and illegal immigrants into the U.S. February 3 - Trump agrees to a 30-day pause in his tariff threat on Mexico and Canada in return for concessions on border and crime enforcement. The U.S. does not reach such a deal with China. February 10 - Trump raises tariffs on steel and aluminum to a flat 25%. March 3 - Trump says 25% tariffs on goods from Mexico and Canada will take effect from March 4 and doubles fentanyl-r...

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Indian airlines have called for retaliatory action by authorities as they face hurdles to access slots at major airports such as Amsterdam and Heathrow in London. Leading carriers such as IndiGo and Air India said this is hindering their ability to fully utilise flying rights granted to them. International flying rights between two nations are allocated on a bilateral reciprocal basis by the governments to their respective airlines.IndiGo's flight to Amsterdam is facing uncertainty as its request for slots in winter is yet to be approved by airport authorities there. The airline launched its Mumbai-Amsterdam flight last month and has announced plans to increase it to six flights per week from September.123126681While Dutch flag carrier KLM flies 21 flights per week to Delhi, Mumbai and Bengaluru, IndiGo and Air India are able to operate only 10 flights to the Netherlands, industry officials said."Despite an open-sky agreement between the two countries which allows airlines to ...

Indian corporates are building muscle to challenge bigger global rivals in the fast-growing cloud market, with offerings that store data applications and related infrastructure within the country, referred to as sovereign cloud. These homegrown firms are underlining lower costs as their biggest advantage against the foreign competitors.Bharti Airtel's Xtelify, Reliance's JioCloud for SMEs, Tata Communications' Vayu, and Yotta's Shakti are tailored for local enterprises, especially in public sector and other regulated industries. And they are aiming to take on hyperscalers Microsoft Azure, Amazon Web Services (AWS) and Google Cloud Platform, positioning themselves as affordable and secure alternatives with cost savings of 30%-50% over the global giants. Hyperscalers are large cloud providers offering massive computing resources and infrastructure.However, factors such as limited technology depth, lack of ecosystem maturity, and high migration costs from the global cloud ...

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Harry Brook and Joe Root both hit hundreds before England's series finale against India was left on a knife edge after an Oval downpour cut short Sunday's fourth day.England were 339-6 when play was abandoned at 1703 GMT, with the hosts now needing a further 35 runs to reach a target of 374 on Monday's final day.India, meanwhile, require four wickets to end the five-match series level at 2-2.England were faltering at 106-3 following the loss of stand-in captain Ollie Pope.But the Yorkshire duo of Brook (111) and Root (105) turned the tide with a fourth-wicket stand of 195 that left England cruising to a 3-1 series win with more than a day to spare.But Brook's exit sparked a mini-collapse that saw England lose three wickets for 36 runs, with Root also unable to finish the job.And when bad light halted play at 1630 GMT, England were 339-6, with Jamie Smith (two not out) and Jamie Overton (nought not out) on their Surrey home ground.A huge downpour then effectively prevent...

Bengaluru: From organising yoga days and muscle therapy sessions to setting up badminton and pickleball courts and conducting sports leagues, operators of co-working spaces are going the extra mile to keep the people working at their facilities healthy, both mentally and physically.Such efforts, say the companies, help create not just lasting interpersonal connections and enhance job satisfaction, but also open up informal networking opportunities across teams and organisations.Awfis Space Solutions, which operates co-working offices at several cities across India, said it organised as many as 450 “engagement initiatives” over the past year to bring its community together. “We see the workplace as more than just a space to work; it is a place to connect, recharge, and thrive,” said chairman and managing director Amit Ramani.Many of the spaces operated by Awfis have dedicated wellness and recreation zones, and two centres in Bengaluru and Hyderabad have specialised wellness rooms that c...

The Income Tax Department's ongoing verification proceedings against US proprietary trading firm Jane Street have hit a hurdle, with the company allegedly refusing to cooperate with investigators, officials familiar with the matter said.The tax department had sought access to data and servers used by Jane Street, but the firm refused to cooperate claiming that the servers were located outside India, these officials told ET."Their servers are located offshore, and access is being denied. The books of accounts are also maintained outside India, despite legal requirements under Indian company law to maintain them domestically," said a senior tax official, requesting anonymity. "The company has only skeleton staff in India, and they too have not been cooperating," the official added.Jane Street did not respond to an email seeking comment till press time Friday.Given the lack of cooperation, the department on Thursday carried out a survey action at the Mumbai offices...

Pakistan on Friday announced that the US has imposed a 19 per cent tariff on its exports and termed the step as a "balanced and forward-looking" move that enhances the country's competitiveness in the American market. The new rate is down from the previous 29 per cent tariff announced by US President Donald Trump. Welcoming the "successful conclusion" of the tariff-related discussions with the US, the Ministry of Foreign Affairs in a statement said, "As per the outcome of these talks, a tariff of 19 per cent will be applicable for Pakistani exports to the US market." The decision reflected a "balanced and forward-looking approach by the US authorities, keeping Pakistan competitive relative to other South and Southeast Asian countries", it said. The ministry said the revised tariff level is expected to support Pakistan's export potential, especially in key sectors such as textiles, "which remain the backbone of the country's expor...

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