Latest Developments

Asia
The Hindu BusinessLine

Nifty and Nifty Bank Prediction for the week 13-Jul’26 to 17 Jul’26 by BL GURU

The inverted head and shoulder pattern on the #Nifty that we had indicated last week has gone wrong. However, the strong bounce towards the end of the week keeps the broader picture positive. So, there is not major change in our overall bullish view on the Nifty. All that is it is taking slightly a much longer time for our bullish view to happen. Nifty Bank index is likely to make a bullish breakout above 58,900 and rise to 60,500-61,500. Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments. We have migrated to a new commenting platform. If you are already a registered user of TheHindu Businessline and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.

Nifty and Nifty Bank Prediction for the week 13-Jul’26 to 17 Jul’26 by BL GURU
Asia
The Hindu BusinessLine

15 people, including Indian tourists, feared dead in Vietnam boat capsize incident: local media

Ambulances line up on a pier to help victims of a boating accident after a tourist vessel capsized off Phu Quoc Island in southern Vietnam's An Giang Province on July 11, 2026. At least 15 people were killed when a tourist boat capsized off an island in Vietnam's south, state media reported on July 11 Fifteen people, including Indian tourists, are feared dead in a boat capsize incident near Vietnam's Phu Quoc Island on Saturday, according to a local media report. According to Vietnamese news portal VN Express International, the speedboat was carrying 32 Indian tourists and four crew members from Hon May Rut to An Thoi Port when it capsized about 400 metres off Hon May Rut Ngoai, throwing everyone on board into the sea. Citing initial information from authorities in the Phu Quoc Special Economic Zone, the news portal said nearby tourist boats rushed to assist before border guards, the navy, the coast guard and other forces joined the search-and-rescue operation. Earlier, the Indian Embassy in Hanoi said that it set up control rooms as search and rescue operations would continue. "In a tragic incident, a boat carrying several Indian tourists has capsized near Phu Quoc Island in Vietnam," the embassy said in a post on X. It said control rooms have been established at the Consulate General of India in Ho Chi Minh City and at the Embassy in Hanoi to provide information and assistance. The first control room can be reached at: +84 36 281 7930, +84 91 552 37 14 and +84 33 452 0414. The other one in Hanoi can be reached at: +84 91 308 9165. They are available for any assistance and queries, the Indian mission said. Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments. We have migrated to a new commenting platform. If you are already a registered user of TheHindu Businessline and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.

15 people, including Indian tourists, feared dead in Vietnam boat capsize incident: local media
Asia
The Hindu BusinessLine

Reliance Anil Ambani Group money laundering case: ED attaches fresh assets worth over ₹1,000 cr

The Enforcement Directorate (ED) on Saturday said it has issued a fresh order to attach assets worth ₹1,021 crore as part of a money laundering investigation against the Reliance Anil Ambani Group. The provisional order, issued under the Prevention of Money Laundering Act (PMLA), attaches equity shares of Reliance Power held by Reliance Infrastructure and certain loan amount receivable from Sasan Power and Reliance Power, the agency said in a statement. According to the ED, the probe found that public funds worth ₹15,548 crore raised by RHFL and RCFL were "systematically diverted" through a web of "shell" (dummy) and group companies controlled and managed by the Reliance Anil Ambani Group. The ED is investigating multiple cases against the Group in connection with four FIRs filed under the anti-money laundering law, and three under provisions of the Foreign Exchange Management Act (FEMA). With the latest order, the total value of properties attached in this case has reached at ₹20,367 crore, with the ED filing four chargesheets and arresting eight persons so far. Additionally, properties worth ₹77.86 crore have been attached under the FEMA, according to the ED. Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments. We have migrated to a new commenting platform. If you are already a registered user of TheHindu Businessline and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.

Reliance Anil Ambani Group money laundering case: ED attaches fresh assets worth over ₹1,000 cr
Asia
The Hindu BusinessLine

"Indian Navy not just a fighting force, but strong guardian of India's economic interests": Rajnath Singh

Defence Minister Rajnath Singh addresses the commissioning ceremony of INS Mahendragiri, in Visakhapatnam, Andhra Pradesh. | Photo Credit: PIB Defence Minister Rajnath Singh on Saturday underscored the importance of the Indian Navy, stating that recent events have once again demonstrated the need for a capable and responsive navy for any nation. While addressing the commissioning ceremony of INS Mahendragiri at Visakhapatnam, the Defence Minister said, "Recent events have once again demonstrated how essential a capable and responsive navy is for any nation." On the Indian Navy's role during the West Asia conflict, Singh said, "After the conflict began in West Asia, the Indian Navy, through Operation Urja Suraksha, safely escorted 18 merchant vessels carrying essential cargo worth over 9,000 crore. This shows that our Navy is not just a fighting force but has also emerged as a strong guardian of India's economic interests." Defence Minister also said that, "Today the eyes of the entire world are on the Indo-Pacific region, and India has a crucial role to play in this part of the world. Our Prime Minister has articulated a vision for this region: MAHA SAGAR (Mutual and Holistic Advancement for Security and Growth Across Regions)." "We seek security and development for everyone in the region. India has emerged as a net security provider and a trusted partner across the Indo-Pacific. Time and again, our Navy has demonstrated that it is the region's most reliable partner. Whether it is conducting Humanitarian Assistance and Disaster Relief operations during natural disasters, taking action against maritime piracy, or safely evacuating Indian and friendly foreign nationals from countries in crisis, the Indian Navy has consistently served as both the first responder and the preferred security partner," he added. Highlighting India's growing self-reliance in the defence sector, Singh said, "Whenever we build an indigenous warship, we are not merely creating a new fighting platform. Our design expertise becomes more mature, our technological base grows stronger, and we develop a highly skilled workforce capable of building even more advanced warships for future generations." Concluding his remarks, Singh said, "Constructing a warship is not just about building a ship; it also creates an entire industrial ecosystem around it. In the years ahead, we have numerous naval projects before us. Our goal is to make India a global hub for shipbuilding and maritime defence innovation. I am confident that, in the coming years, our country will establish a distinct identity among the world's leading nations in this field." Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments. We have migrated to a new commenting platform. If you are already a registered user of TheHindu Businessline and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.

"Indian Navy not just a fighting force, but strong guardian of India's economic interests": Rajnath Singh
Asia
The Hindu BusinessLine

Food standards authority issues 9 notices to Swiggy Instamart over consumer complaints

The Food Safety and Standards Authority of India (FSSAI) on Saturday said it has issued nine notices to quick commerce platform, Swiggy Instamart after receiving multiple consumer complaints alleging violations of provisions of the Food Safety and Standards Act, 2006. It said that consumers complaints have alleged the supply of expired, spoiled, rotten, contaminated and unsafe food products The notices have also raised concerns about seller onboarding, compliance verification, traceability, food quality monitoring, consumer grievance redressal, supervision of food business activities and the adequacy of food safety complaint systems. FSSAI has asked Swiggy Instmart to give detailed explanation and compliance report failing which appropriate legal action will be initiated. When contacted, a spokesperson for Instamart said, “ We are reviewing the flagged listings by FSSAI and are in touch with the authorities to resolve the same.”. Outlining the violations in a social media post FSSAI said, NOICE eggs were reportedly marketed under a brand name not covered under the product categories approved in the existing FSSAI license. “The food business operator was directed not to market the product unless it was covered under the valid licence and to apply for licence modification, if required,” it added. It also noted that according to a consumer complaint “Healthify 100 per cent Whey Protein 1 Kg” and “Noice Homestyle Madras Minute with Peanuts” were allegedly supplied after their expiry date. In another instance, a product named Akshayakalpa Organic Eggs were reportedly found to be expired, rotten and emitting a foul odour with signs of contamination, rendering it unfit for consumption. Similarly, a product named “Kakke da Parantha” was reportedly found spoiled and emitting a foul odour. FSSAI said the company did not take any corrective action in these instances despite escalation. “An infant food formulation was reportedly found in a highly deteriorated and unsafe condition, showing signs of contamination and improper storage and handling. The same product was allegedly re-supplied to the consumer after the defective product had been returned,” the FSSAI’s post stated. The Authority said complaints have also been recieved for alleged delivery of contaminated eggs and milk along with damaged packaged food items through Instamart. The notices have also raised concerns regarding incorrect, invalid or non-existent FSSAI license Number, and food business entities being listed under names different from those reflected in their FSSAI registration. “Some complaints alleged that no satisfactory response, grievance redressal or corrective action was taken despite the complaints being escalated, while one complaint stated that only a refund was offered, without addressing the reported food safety concerns,” FSSAI said. “The notices have also raised concerns about seller onboarding, compliance verification, traceability, food quality monitoring, consumer grievance redressal, supervision of food business activities and the adequacy of food safety complaint systems,” it added. The FSSAI has now directed the quick commerce platform to submit a detailed explanation addressing the alleged instances of non-compliance and the circumstances leading to the reported incidents. It has also directed Swiggy Instamart to submit details of practices adopted for quality assurance, food safety monitoring, inventory management, stock rotation, hygiene, storage and handling and internal controls adopted to ensure food safety compliance. FSSAI has also asked the company to provide details of “corrective and preventive actions, root cause analysis, consumer grievance redressal and measures implemented to prevent recurrence of similar incidents.” Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments. We have migrated to a new commenting platform. If you are already a registered user of TheHindu Businessline and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.

Food standards authority issues 9 notices to Swiggy Instamart over consumer complaints
North America
CNBC Finance

American Airlines brings grab-and-go lounge to New York's JFK

American Airlines is planning to open a new grab-and-go lounge at New York's John F. Kennedy International Airport by the end of this year, its first new facility at the airport in more than four years as it continues its fight for high-paying customers to close a profit gap with Delta Air Lines and United Airlines. The new lounge, a 3,700-square-foot space, will include a barista bar with hot and iced coffee drinks as well as hot and cold food travelers can grab. Airlines have been adding more of these short-visit lounges in recent years to give credit card holders and big spenders access to spaces without crowding larger airport clubs. United announced its first in late 2022, for Denver International Airport. Airlines and credit card companies alike have raised the entry requirements or scaled back on freebies like guest passes to avoid overcrowding. American opened the first of its grab-and-go lounges, which it calls Provisions, at Charlotte Douglas International Airport in North Carolina, last year. American operates out of JFK's Terminal 8, which is shared by its Oneworld Alliance partners, Japan Airlines, Alaska Airlines, British Airways and others. It has a trio of high-end lounges for business-class travelers, first-class passengers and other frequent flyer elites for long-haul trips, which the airline opened there in 2022. It also operates an Admirals Club there that is used more for lounge membership customers. American hasn't updated its New York space lately like it has with those in other cities like Chicago and Austin, Texas. Get this delivered to your inbox, and more info about our products and services. Data is a real-time snapshot *Data is delayed at least 15 minutes. Global Business and Financial News, Stock Quotes, and Market Data and Analysis.

American Airlines brings grab-and-go lounge to New York's JFK
Europe
The Guardian

US treasury secretary warns oil and gas companies to lower prices: ‘We’re watching’

Scott Bessent, the US secretary of the treasury, speaks during a panel at a conference at the Washington Hilton in Washington DC on 26 June. Photograph: Nathan Posner/ShutterstockView image in fullscreenScott Bessent, the US secretary of the treasury, speaks during a panel at a conference at the Washington Hilton in Washington DC on 26 June. Photograph: Nathan Posner/ShutterstockUS newsUS treasury secretary warns oil and gas companies to lower prices: ‘We’re watching’Scott Bessent says he ‘encourages them to be good actors’ after Trump ranted about prices not dropping fast enough Scott Bessent, the US treasury secretary, issued a veiled warning to oil and gas companies to lower their prices on Tuesday, a day after Donald Trump berated those retailers on social media for not dropping their prices fast enough and demanded they target $2.50 a gallon. “I would encourage them to be good actors, especially in the 250th anniversary, because we’re watching,” Bessent said in an interview with Fox News on Tuesday morning, addressing big oil, independent and international retailers. Bessent also said that oil companies were probably making “record profits”, and said it was “time to do something for the American people”. Trump shared these sentiments in a Truth Social post on Monday, writing that if retailers don’t drop their prices, “big problems lie ahead”. Oil prices have fallen sharply this month, after the US and Iran signed a memorandum of understanding to end the conflict. Though recent clashes between the two countries have threatened the collapse of the peace deal, the price of Brent crude is only $1 more expensive than before the conflict began, and the index is heading for its biggest quarterly loss since 2020, when the Covid-19 pandemic hit. Still, the current national average price for a gallon of gas is $3.85 – cheaper than prices a month ago but still higher than levels during last year’s Fourth of July holiday. Both Bessent and Trump’s invoked the upcoming 250th anniversary of the country’s founding and the Fourth of July holiday, another example of how the administration is trying to prepare for the nation’s birthday. Trump has ordered several renovations in Washington in particular in preparation for this year’s celebrations. A record-high 72 million people are expected to travel during the holiday, despite higher gas prices compared with last year, according to AAA. The number of people driving or flying over the holiday weekend has remained relatively flat since last year, the group found, while other modes of transportation such as cruises have gained popularity. Domestic car rentals are 10% more expensive than last year, and domestic round-trip flight tickets overall are averaging at $830 a ticket, AAA found.

US treasury secretary warns oil and gas companies to lower prices: ‘We’re watching’
Europe
BBC Business

Burnham says there is some room for movement on tax

Image source, ReutersByKate Wannel and Joshua Nevett, Political reporterPublished2 July 2026Updated 30 minutes agoAndy Burnham, who is widely expected to take over as prime minister later this month, has said there is "some room" for movement on tax. In an interview with LBC, Burnham suggested business rates on warehouses could be increased to fund tax cuts for pubs and some high-street businesses. But the newly elected Makerfield MP said he would stick to the pledges Labour made not to raise VAT, income tax or national insurance in its general election manifesto in 2024. He also defended his credibility on economic policy, insisting he would not be "indisciplined" with the public finances if he becomes PM. Some on the left of the Labour Party have called for borrowing rules to be relaxed to fund more public spending. Burnham has faced criticism in the past for arguing, external that the UK had "got to get beyond this thing of being in hock to the bond markets", which governments use to borrow money to fund government spending. Speaking to LBC presenter Andrew Marr, Burnham said the finances in Greater Manchester had been "rock solid" when he was mayor - and pointed to his previous experience as a Treasury minister in the last Labour government. "So, let me be absolutely clear about that, but there is some room within that manifesto for movement on tax." The pledge to help on business rates was made last month during his successful by-election campaign to become the MP for Makerfield. Burnham said pubs, clubs and music venues would receive a 20% cut, while smaller, independent hospitality, leisure and retail companies would have the threshold for paying business rates raised for the first time since 2017. The cuts would be paid for by higher levies on giant warehouses operated by online firms such as Amazon, and targeting the owners of empty high street properties. The LBC appearance was his first media interview since announcing his bid to become prime minister.

Burnham says there is some room for movement on tax
Europe
The Guardian

US residents angry at datacenters ‘being shoved down our throats’ are recalling officials

Advocacy groups and community members protest against datacenters outside the Texas capital in Austin in February. Photograph: Mikala Compton/Austin American-Statesman via Getty ImagesView image in fullscreenAdvocacy groups and community members protest against datacenters outside the Texas capital in Austin in February. Photograph: Mikala Compton/Austin American-Statesman via Getty ImagesDatacentersUS residents angry at datacenters ‘being shoved down our throats’ are recalling officialsPeople across the country are pushing for moratoriums, and electeds who approve projects are being punished Lenoxdatacenter.com went live in May, promoting what it called a “proposed advanced technology and data center campus” in Michigan. The site did not state who wanted to build the center. Lenox Township officials denied anyone had applied to build one. Emails obtained by residents through an open records request showed, however, that developers had contacted the township supervisor and deputy supervisor asking for their support to build a datacenter. The perceived secrecy surrounding the proposed datacenter prompted residents to pack public meetings that sometimes lasted more than four hours. They expressed outrage at officials in the Republican-led rural municipality 40 miles (64km) north of Detroit and submitted a petition seeking to recall four members of the Lenox board of trustees, which oversees township administration, zoning and municipal ordinances. “The community still has questions that aren’t being answered and the public deserves to have transparency,” a resident said at a June board meeting after the trustees did not extend a four-month moratorium on datacenter development. Like Lenox residents, people across the United States are increasingly pushing for moratoriums on new datacenters and trying to oust elected officials approving such projects. Supporters say the movement is encouraging, not only because it could slow an industry they argue will diminish their property values, strain water and energy resources and cause greater unemployment, but also because it features a phenomenon that is nearing extinction in American politics: unity among Republicans and Democrats. “It reflects the growing anxiety about AI writ large,” said Evan Sutton, a Seattle resident who works in strategic communications and has voluntarily helped datacenter opponents in 10 states, including California, Montana and Ohio. “People feel like this technology is being shoved down our throats.” The US has more than 4,400 datacenters, according to Data Center Map, and one center can consume as much electricity as 2,000 homes, according to a University of Michigan report. They also require water for cooling, and a typical datacenter uses 300,000 gallons of water each day (equivalent to the demands of about 1,000 households), but large datacenters can use an estimated 5m gallons of water each day, equivalent to the daily usage of a town with about 10,000 to 50,000 residents, according to the Environmental and Energy Study Institute. That consumption can strain a local water supply – particularly in arid areas – and electric grid capacity, which means utilities then must invest in infrastructure upgrades and charge consumers more. The effects of datacenters are especially acute for people who live close to them. Neighbors often complain about constant humming from the facilities’ cooling systems, and air pollution. When companies try to build new ones, industry analysts say they frequently do so clandestinely without revealing which tech firm would use the facilities. Researchers found that among 31 Virginia localities with existing, approved or proposed datacenters, 80% had non-disclosure agreements with the companies behind the projects, the Virginia Mercury reported.

US residents angry at datacenters ‘being shoved down our throats’ are recalling officials