Breaking News: Germany enters into recession | Fitch action on US | Iran’s new ballistic missile | CBDT’s notification related to angel tax

Top News Today: Fitch ratings; Iran Missile launch; German economy in recession; Nitin Gadkari’s advice to industry; CBDT’s notification related to angel tax; NITI Aayog Governing Council meet & more

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Latest News on May 25 today: Here’s the snapshot of big breaking news from across the world. There is a new threat looming over the US economy; Iran launched a new version of ballistic missile; the row over new Parliament building intensifies; Nitin Gadkari’s advice to industry; CBDT’s notification related to angel tax; NITI Aayog Governing Council meet. Stay with us as we bring top news:

PM Modi to chair NITI Aayog Governing Council meet on Saturday

Prime Minister Narendra Modi will chair NITI Aayog’s eighth Governing Council meeting on May 27, which will deliberate on several issues including, health, skill development, women empowerment and infrastructure development, with an aim to make India a developed nation by 2047. (READ MORE)

CBDT notifies 21 nations from where investment in startups will be exempt from angel tax

The Finance Ministry has notified 21 countries, including the US, UK and France, from where non-resident investment in unlisted Indian startups will not attract angel tax. The list, however, excludes investment from countries like Singapore, Netherlands and Mauritius. (READ MORE)

Gadkari tells industry to make alternate fuels like bio-CNG and hydrogen available at cost-effective price

The Union Road Transport and Highways Minister Nitin Gadkari has urged stakeholders that finding and using cost-effective fuels, that are also economically viable, is imperative to reduce pollution caused by vehicles. (READ MORE)

Fitch rating action on US Debt Ceiling Crisis

US debt ceiling crisis is entering its last phase. The X date when the U.S. Treasury exhausts its cash position and capacity for extraordinary measures without incurring new debt is fast approaching. Markets have grown increasingly concerned about the deadlock. (READ MORE)

German economy suffers unexpected dip in Q1

New figures show the German economy suffered an unexpected dip in the first quarter of this year, putting the country formally into recession. Data released Thursday by the Federal Statistical Office shows Germany’s gross domestic product, or GDP, down by 0.3 per cent in the period from January to March. This follows a drop of 0.5 per cent in Europe’s biggest economy during the last quarter of 2022. Two consecutive quarters of decline constitute a technical recession. The figures are a blow to the German government, which last month boldly doubled its growth forecast for this year after a feared winter energy crunch failed to materialise. (AP)

Tehran launches Khorramshahr-4 missile

Tehran has unveiled new version of Khorramshahr ballistic missile. This is believed to updated iteration of its liquid-fuelled weapon. The development comes amid wider tensions with the West.
The new missile is called Khorramshahr-4. It was showcased at an event in the Iranian capital today, an AP report said.

Florida Guv launches 2024 presidential campaign at chaotic Twitter event

Ron DeSantis, the Governor of Florida, has launched his 2024 US Presidential campaign. DeSantis started off on a chaotic note as his highly-publicized Twitter event with Elon Musk suffered tech glitches. The event was seen as a launchpad for him that would have shown his fitness for the top job.

AAP leader Satyendar Jain hospitalised

Aam Aadmi Party leader Satyendar Jain has been admitted to Deen Dayal Upadhyay Hospital, news agency ANI said on Twitter. ANI reports that the AAP leader felt dizzy and fell in the bathroom of Tihar Jail on Wednesday night. (READ MORE)

Strong magnitude 6.6 earthquake strikes in Caribbean just off border between Panama and Colombia

A strong earthquake with a preliminary magnitude of 6.6 struck Wednesday night in the Caribbean Sea just off the Panama-Colombia border, the US Geological Survey said. There was no immediate word on whether were any injuries or damage in the nearby areas, which are not densely populated. (AP)

Hong Kong-flagged vessel runs aground in Egypt’s vital Suez Canal

Xin Hai Tong 23 , Hong Kong-flagged ship, ran aground in Suez Canal, Egypt’s authorities said today. The latest tracking data showed the ship still in the vital canal. The incident has been reported in the southern mouth of the Suez Canal, the updated data showed. Leth Agencies that monitors canal traffic confirmed the grounding. “Suez Canal tugs are currently trying to re-float the vessel,” Leth was quoted as saying by AP.

PM Modi flags off Uttarakhand’s 1st Vande Bharat Express

“Uttarakhand is getting its first Vande Bharat Express today from Dehradun to Delhi. This Express will reduce the travelling time of the people,” says PM Narendra Modi said at the flagging off event of Vande Bharat Express between Dehradun and Delhi. (READ MORE)

New Parliament row reaches Supreme Court

The row over who inaugurates the new Parliament building on Thursday reached the doors of the Supreme Court with a plea seeking directions that the inauguration be done at the hands of the President of India, reports Live Law. (READ MORE)

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First published on: 25-05-2023 at 09:07 IST