Lalit Modi, founder of IPL, gifts son Ruchir a Ferrari every year since he turned 21. Now 31, Ruchir owns 11 Ferraris worth over Rs 15 crore. Lalit's net worth is $570 million, mostly from stake in Modi Enterprises and UK real estate.
LaGuardia Airport in New York experienced a sinkhole on Runway 4/22 during a routine morning inspection on May 20, causing flight delays and cancellations. The airport is working on repairs and the runway is expected to be closed until 10 am Thursday. This comes after recent weather disruptions and a strike on the Long Island Rail Road, prompting advisories for travelers.
Delhi-NCR taxi and auto drivers are on a 3-day strike starting May 21, demanding a fare hike due to increasing fuel costs and exploitation by app-based cab companies. The strike is part of a nationwide protest supported by the All India Motor Transport Congress, highlighting the drivers' frustration over unchanged fares for 15 years. Authorities have been warned of escalating actions.
The FBI has shut down a major India-linked call centre fraud operation that allegedly defrauded hundreds of elderly victims in the United States and other countries of millions of dollars through fake tech support scams.
BPCL has adapted to disruptions in West Asian oil supply by increasing spot crude purchases and diversifying sourcing. They have also procured US LPG cargoes and plan to add 1,000 fuel stations by FY27. Despite challenges, their gross refining margin for FY26 was $11.74 per barrel.
Indian refiners are turning to Russian crude oil as a cost-effective alternative due to disruptions in West Asia. This is due to a decrease in Russian crude premiums and a rise in West Asian procurement costs. The United States has extended a waiver allowing Russian oil to continue reaching buyers despite sanctions, providing crucial relief for Indian refiners.
NCDEX launched India's first Sebi-approved exchange-traded weather derivatives contract, 'RAINMUMBAI', for trading rainfall risks in Mumbai. The contract will be available from June 1 to September 30 and cater to sectors like agriculture, power, logistics, and more.
At the Goafest 2026, Prasoon Joshi stressed the need for India to invest in innovation, incubation, and original ideas, and emphasized collaboration between media, corporates, government, and creators. Rajiv Kumar stated that private entrepreneurs will drive India's growth, with government support.
India's power demand has hit a record high of 265.44 GW due to scorching heatwaves in north and central regions. Thermal power remains the main source, but managing peak demand during evening hours is a concern. Experts recommend fast-tracking battery storage and pumped hydro projects, maintaining coal stocks, and expanding time-of-use tariffs.
Indian Railways has launched a special train between Visakhapatnam and New Delhi to meet the high demand during summer. The train will run on May 22 and 26, stopping at major stations and improving connectivity between big cities and smaller towns. This will provide passengers with more travel options and easier ticket booking.
Delhi's public transport system is getting a major boost with an ₹18,000 crore metro expansion plan. This will improve daily travel for a large number of people, reduce traffic congestion, and enhance connectivity across the city. A new ₹6,200 crore metro line between Kirti Nagar and Palam is also in the works.
South Central Railway has extended one-way special train services between Hazur Sahib Nanded–Tirupati and Tirupati–Jalna to ease travel and reduce crowding. The trains will run on specific dates and pass through key stations in Andhra Pradesh and Maharashtra. This move will improve connectivity and provide a big relief for passengers, especially during busy periods when demand is high.
The PFRDA is in talks with the government to raise the guaranteed pension in the Atal Pension Yojana, currently at Rs 5,000 per month. The subscriber base is projected to reach 100 million by FY27, with efforts to educate young people. Concerns were raised about most subscribers receiving the minimum pension of Rs 1,000 and the importance of improved counselling during enrolment.
India's Balance of Payments (BoP) for FY27 is expected to have a deficit for the third consecutive year. To address this, the government is considering dollar mobilization schemes for the Indian diaspora. In the past, schemes like Resurgent India Bonds (RIB) in 1998, India Millennium Deposits (IMD) in 2000, and FCNR (B) in 2013 have been successful in raising foreign currency.
The CRS has revealed that the ongoing war in Iran has resulted in the destruction or damage of 42 US military aircraft, costing the Pentagon an estimated $29 billion. While the US has not released an official assessment of combat losses, Iran sees this as a confirmation of its military strength. The conflict also raises concerns about the sustainability.
Google introduced new AI-driven features at their annual event, I/O. These include AI Mode in Search, advanced Gemini functions, and conversational interfaces for research and task completion. The goal is to minimize steps and use AI to complete tasks, like finding deals and filling forms.
Indian rupee hits record low of 96.79 against the US dollar due to uncertainty over West Asia war. Oil prices and US Treasury yields rising, putting pressure on the currency. Rupee has weakened 6.4% since the outbreak of war, with expectations of further rate hikes. RBI steps in aggressively to support the currency, but may resort to a rate hike in June to control imported inflation.
Rahul Gandhi accuses PM Modi of selling off India's economy to Ambani, Adani, and America while taking foreign trips amidst inflation and fuel price hikes. He warns of an upcoming economic storm and reflects on the teachings of Veera Passi and Dr BR Ambedkar, urging for the protection of the Constitution. HSBC reports that fuel price hikes may help India cover $30 billion in FX reserves.
India is experiencing a dangerous heatwave with temperatures reaching 45 degrees Celsius. Multiple states have been issued red and orange alerts by the India Meteorological Department, warning citizens to protect themselves from dehydration and heat-related illnesses. The Union Ministry of Health and Family Welfare has released a public health advisory.
The race for the final playoff spot in IPL 2026 is heating up, with Kolkata Knight Riders needing two wins to secure a maximum of 15 points. They also need specific teams to lose their remaining matches, including Rajasthan Royals, Punjab Kings, Chennai Super Kings, and Delhi Capitals. If all goes well, KKR can secure a spot in the playoffs without any tiebreakers.
Tesla's supposed cancellation of plans for an EV factory in India was proven false by the Indian Ministry of Heavy Industries. Although the minister previously mentioned the company's disinterest, Tesla has since opened showrooms and planned a $3 billion investment. However, challenges such as tariffs and trade may have caused delays.
India's renewable energy sector is set to receive a significant investment of $110-120 billion to reach its goal of 500 GW non-fossil-based energy capacity by 2030. Solar and wind energy make up the majority of the current installed capacity, with 94 GW of solar and 26 GW of wind energy under construction.
Tamil Nadu CM Vijay's party downplays concerns about AIADMK alliance, welcomes other parties to join coalition government. Congress likely to be part of the government, while other allies offer outside support. TVK emerged as largest party in recent elections, sparking negotiations. Vijay's alliance partners unite to safeguard democracy, criticize AIADMK's BJP alliance for election loss.
The Kerala government has scrapped the SilverLine semi-high-speed rail project due to issues with land acquisition and environmental impact. The project faced opposition and criticism, with even the former Delhi Metro chief questioning its execution. The government has decided to withdraw all land acquisition notifications and criminal cases.
Indian-origin tech veteran S "Soma" Somasegar passed away unexpectedly, leaving a profound impact on the Silicon Valley community. He was a beloved leader at Microsoft and Madrona, known for his generosity and commitment to empowering developers. His colleagues and friends, including Microsoft CEO Satya Nadella and Donald Trump's AI advisor Sriram Krishnan, paid tribute to him.
Wednesday morning was full of uncertainty for thousands of Meta employees. People across North America were told to work from home as layoff emails started going out from around 4 am PT. By the end of the day, around 8,000 employees, nearly 10% of Meta’s global workforce, had lost their jobs.
The new Belagavi-Secunderabad Weekly Express was launched on May 19, providing regular connectivity between the two states. The train will run on fixed days and depart from Belagavi at 1:00 pm, arriving at Secunderabad at 7:15 am the next day. It will stop at multiple stations and offer a direct travel option, saving time and money for passengers.
Motilal Oswal reiterated its Buy rating on Titan Company, expecting it to manage the current situation well and benefit from the ongoing shift from unorganised to organised jewellery players. The company's strategic international expansion through Damas and robust performance of CaratLane are also contributing to its growth.
The Supreme Court has issued notices to the Centre and other authorities on a petition seeking a nationwide ban on the sale of alcohol in tetra packs and sachets. The petitioner argues that such packaging makes it easier to distribute and contribute to alcohol abuse. This comes after the court refused to entertain a similar plea in Uttar Pradesh.
The Iran conflict, now dragging on for months, is at a critical point as President Donald Trump insists the war could end “very quickly” if a deal is reached. Speaking at a White House congressional event, he said Iran is eager for an agreement and suggested that military action is still on the table if talks collapse.
East Coast Railway has launched a new special train service between Virangana Lakshmibai Jhansi and Khurda Road Junction to ease travel pressure and provide better connectivity for passengers travelling between Uttar Pradesh, Bihar, Jharkhand, West Bengal, and Odisha. The train will operate from May 22 to May 26 from Jhansi to Khurda Road and from May 24 to May 28 from Khurda Road to Jhansi.
Vodafone Idea's stock price has surged by 43% in the last month, driven by strong Q4 results, which included a significant reduction in AGR dues and a first quarterly profit in six years. While some brokerages have downgraded the stock and expressed concerns about management's ambitious goals, others have raised the target price, but caution that more needs to be done for sustained growth.
The Indian rupee is facing record lows against the dollar, reaching 97/$, as peace talks between the US and Iran stall and US Treasury yields rise. Inflation concerns and geopolitical tensions are driving this decline, which is impacting the stock market and creating a large balance of payments deficit. The government has already raised fuel prices twice in a week and more increases are expected.
A speech by Pakistani Senator Rana Mahmood-ul-Hassan at a Pakistan Peoples Party (PPP) USA event in New York City has sparked outrage after clips surfaced online.
Italian PM Meloni and Indian PM Modi met in Rome for bilateral talks. Meloni shared a selfie of them, calling them the "Melodi" duo. This is not their first memorable photo, as they also took a selfie during Modi's 2024 visit. Modi confirmed his visit and will discuss boosting cooperation, including the India-Middle East-Europe Economic Corridor. They will also sign agreements on various topics.
Norwegian journalist Helle Lyng's social media accounts were suspended after she questioned PM Modi during his visit to Norway. She shared her concerns and failed login attempts, and reached out to Rahul Gandhi for an interview. The Indian Embassy invited her to a press briefing where she was able to ask her questions.
The Haryana Cabinet has approved a revised cost of Rs 10,266.54 crore for the Gurugram Metro corridor, which is almost double the original cost. The increase is due to various factors such as rising prices, GST rates, alignment changes, and infrastructure requirements. The line will cover 28.50 km with 27 stations and will be funded by the World Bank.
Indian tech billionaire and Zoho co-founder Sridhar Vembu has triggered a wide discussion online after sharing a blunt take on artificial intelligence, layoffs, and the weakening global economy.
Delhi-NCR has been placed under anti-pollution restrictions as air quality in the national capital has deteriorated to "poor" levels. The Commission for Air Quality Management has activated Stage-I measures under the GRAP, citing unfavourable weather conditions. The CAQM has warned that air quality is likely to remain poor in the coming days.
The 2026 Director's Cut Awards, hosted by the Directors Guild of Korea, will take place today at 6 pm KST. This year's ceremony will feature 13 categories, including a new Series category. Directors Jang Hang Jun, Bong Man Dae, and Kim Cho Hee will be the MCs, and top nominees include Park Ji Hoon and Park Chan Wook.
TMC candidate Jahangir Khan withdraws from Falta Assembly constituency election, citing a promised development package for the constituency by West Bengal Chief Minister Suvendu Adhikari. His decision coincides with BJP's campaign in the area and comes after the Election Commission ordered a repoll due to alleged electoral offences and disturbances.
Western Railway has launched a special train between Udhna and Hasanpur Road Railway Station to improve connectivity and ease travel during the busy summer season. The train will run on selected dates and will halt at important stations, benefiting passengers by providing a convenient and direct travel option.
Indian authorities are closely watching Boeing's testing of a fuel-control switch panel that was removed from an Air India 787 after a possible malfunction. This comes at a critical time for India's aviation sector, with investigations ongoing into last year's fatal Dreamliner crash. The focus is on the fuel-control switches, which failed in February and are now being tested in Seattle.
Delhi CM Rekha Gupta announced a new metro expansion project worth ₹6,200 crore connecting Kirti Nagar and Palam, which will benefit commuters by reducing travel time and improving connectivity. The project will also pass through densely populated areas like Sagarpur, providing easier access to other parts of Delhi.
Bombay High Court has approved a major demolition drive in suburban Mumbai to remove unauthorised structures in Garib Nagar slum near Bandra Station. The drive, led by Western Railways, aims to clear land for the development of the station and improve operational efficiency. The demolition will continue for five days with heavy security, while also protecting the rights of eligible slum dwellers.
Delhi High Court has issued notices to AAP leaders, including Kejriwal and Sisodia, in a criminal contempt case for allegedly attacking the judiciary on social media. The leaders have been given four weeks to respond and all digital records must be preserved. The case is linked to the ongoing Delhi excise policy case. AAP leaders had raised concerns about the judge handling the case.
Indian PM Narendra Modi concludes his visit to Norway and heads to Italy as part of his official trip to Europe. India and Italy are set to expand cooperation across various sectors, including defence and maritime, to enhance bilateral ties. PM Modi will meet with Italian PM Giorgia Meloni and business leaders to strengthen the strategic partnership between the two countries.
The Indian government has strongly denied rumours claiming that it plans to monetise gold held by temples and religious institutions across the country.
East Coast Railway introduces special train service between Gomti Nagar and Khurda Road Railway Station from May 28 to June 18 and May 30 to June 20. This will enhance rail connectivity and cater to the increasing passenger demand from Uttar Pradesh, Bihar, Jharkhand, and Odisha. The train will stop at important stations, reducing rush and providing a comfortable travel experience.
East Coast Railway has announced that the special train between Puri and Patna will now run as a regular weekly express service, making travel easier and more reliable for passengers. The train will operate every Saturday from Puri and every Sunday from Patna. It will pass through major stations and provide a fixed schedule for passengers to plan their journeys without any confusion.
Indian markets to open higher on positive global cues, GIFT Nifty trading 0.43% higher. Investors to monitor crude oil prices, rupee's movement, and foreign investor activity. Developments in West Asia and energy, commodities, and exports sectors in focus. US markets closed lower, attention on gold and silver rates. Foreign investors remain net buyers.