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India's foreign exchange reserves rose sharply by $12.42 billion in the week ended August 21, taking the total reserves to $729.33 billion, according to the latest data released by the Reserve Bank of India (RBI).&nbsp;The rise was mainly driven by an increase in foreign currency assets, while gold reserves also posted a strong weekly gain.&nbsp;The $12.42 billion weekly increase came primarily from sustained foreign currency inflows. These followed the RBI's measures in June to attract overseas deposits and foreign currency borrowings. The central bank accumulated part of these inflows in its reserves.&nbsp;In rupee terms, India's total foreign exchange reserves stood at Rs 69.81 lakh crore as of August 21.&nbsp;The reserves have increased by $38.22 billion from the end of March 2026 and by $38.61 billion over the past year. This shows a sustained improvement in India's external reserve position.&nbsp;Foreign currency assets (FCAs), the largest component of India's foreign exchange reserves, increased by $9.48 billion during the week to $591.33 billion.&nbsp;On a year-on-year basis, FCAs were higher by $9.08 billion. In rupee terms, FCAs rose by Rs 1.08 lakh crore during the week to Rs 56.60 lakh crore.&nbsp;Gold reserves also contributed significantly to the weekly increase. The value of gold held as part of India's reserves rose by $2.80 billion to $114.22 billion during the week.&nbsp;Also Read: <a href="https://www.wionews.com/race-to-power/us-midterms-companies-close-to-trump-prepare-for-possible-democratic-takeover-of-house-race-to-power-1787931360846">US midterms: Companies close to Trump prepare for possible Democratic takeover of House | Race to Power</a><h3>Reserves cross previous record</h3>India's previous record forex reserve level of $728.494 billion was reached in the week ended February 27. Geopolitical tensions that followed led to several weeks of decline in reserves as the rupee came under pressure and the RBI intervened in the forex market through dollar sales.&nbsp;The latest increase has pushed India's reserve buffer further above the end-March level, with gains recorded across foreign currency assets, gold, Special Drawing Rights (SDRs) and the IMF reserve position.&nbsp;RBI data also showed that foreign currency assets rose by Rs 1.08 lakh crore, while gold holdings increased by Rs 30,022 crore during the week ended August 21.

India's foreign exchange reserves surged by $12.42 billion to a record $729.33 billion in the week ended August 21, driven mainly by higher foreign currency assets and gold reserves.

India's foreign exchange reserves rose sharply by $12.42 billion in the week ended August 21, taking the total reserves to $729.33 billion, according to the latest data released by the Reserve Bank of India (RBI). The rise was mainly driven by an increase in foreign currency assets, while gold reserves also posted a strong weekly gain. The $12.42 billion weekly increase came primarily from sustained foreign currency inflows. These followed the RBI's measures in June to attract overseas deposits and foreign currency borrowings. The central bank accumulated part of these inflows in its reserves. In rupee terms, India's total foreign exchange reserves stood at Rs 69.81 lakh crore as of August 21. The reserves have increased by $38.22 billion from the end of March 2026 and by $38.61 billion over the past year. This shows a sustained improvement in India's external reserve position. Foreign currency assets (FCAs), the largest component of India's foreign exchange reserves, increased by $9.48 billion during the week to $591.33 billion. On a year-on-year basis, FCAs were higher by $9.08 billion. In rupee terms, FCAs rose by Rs 1.08 lakh crore during the week to Rs 56.60 lakh crore. Gold reserves also contributed significantly to the weekly increase. The value of gold held as part of India's reserves rose by $2.80 billion to $114.22 billion during the week. Also Read: US midterms: Companies close to Trump prepare for possible Democratic takeover of House | Race to Power Reserves cross previous record India's previous record forex reserve level of $728.494 billion was reached in the week ended February 27. Geopolitical tensions that followed led to several weeks of decline in reserves as the rupee came under pressure and the RBI intervened in the forex market through dollar sales. The latest increase has pushed India's reserve buffer further above the end-March level, with gains recorded across foreign currency assets, gold, Special Drawing Rights (SDRs) and the IMF reserve position. RBI data also showed that foreign currency assets rose by Rs 1.08 lakh crore, while gold holdings increased by Rs 30,022 crore during the week ended August 21.

India's foreign exchange reserves surged by $12.42 billion to a record $729.33 billion in the week ended August 21, driven mainly by higher foreign currency assets and gold reserves.

India’s forex reserves touch record high of $729.33 billion, rise $12.42 billion

Essel Group Chairman Dr Subhash Chandra on Thursday disputed several figures and claims that have appeared in certain media reports over an NCLT loan-settlement order. He said in a statement that several reports suggesting that he had personally borrowed money or had guaranteed loans worth Rs 22,000 crore were incorrect, and urged media outlets to present the facts accurately.&nbsp;Dr Chandra issued an official statement saying that he is issuing a press release in the interest of all stakeholders. “I have to state that certain vested media houses are spreading wrong information about my personal insolvency matter in NCLT. I urge all media platforms to publish the facts and to remove any misinformation that is incorrectly interpreted from the Court order.”&nbsp;Dr Chandra said that he had not borrowed any money from any lender and was involved in the matter only in his capacity as a personal guarantor for borrowing entities associated with the Essel Group. He said that the total claims against him in the personal insolvency proceedings, filed by lenders objecting to the repayment plan, stood at Rs 3,992 crore, not Rs 22,000 crore as suggested in some reports.&nbsp;Besides, Rs 620 crore of the Rs 3,992 crore claims has already been settled, he said, adding that the borrowing entities have offered a further settlement of Rs 1,063 crore to the lenders concerned.&nbsp;Dr Chandra said that the borrowing entities for which he had provided personal guarantees had repaid nearly Rs 43,000 crore against total company dues of around Rs 45,000 crore as of January 24, 2019.&nbsp;&nbsp;The borrowing entities have assured that they will settle any remaining amount.&nbsp;He also rejected reports regarding his personal net worth, saying that the market capitalisation of Essel Group companies had been incorrectly treated as his individual wealth.&nbsp;&nbsp;==================================================================&nbsp;Dr Subhash Chandra NCLT case: Why Rs 22,000 crore claim is not his debt“Certain vested media houses are spreading wrong information about my personal insolvency matter in NCLT,” he said.&nbsp;&nbsp;He said the amounts quoted in reports were taken from documents showing claims filed in the case.&nbsp;&nbsp;<h2>Rs 43,000 crore repaid by borrowing companies</h2>&nbsp;He said the companies for which he had given personal guarantees had total outstanding borrowings of around Rs 45,000 crore as of January 24, 2019.“Out of this, they have returned close to Rs.43000 crores since that day,” Dr Chandra said.&nbsp;&nbsp;Dr Chandra also referred to his declaration of assets made in Parliament in 2016, when he had declared total assets worth Rs 39.08 crore. He questioned how a bank could have accepted a personal net worth of Rs 45,888 crore in 2017 when his parliamentary declaration a year earlier had shown assets worth Rs 39.08 crore.&nbsp;&nbsp;

Dr Subhash Chandra said he had not borrowed money from any lender and was involved in the matter only in his capacity as a personal guarantor for borrowing entities associated with the Essel Group. He said that the total claims against him  stood at Rs 3,992 crore, not Rs 22,000 crore.

Essel Group Chairman Dr Subhash Chandra on Thursday disputed several figures and claims that have appeared in certain media reports over an NCLT loan-settlement order. He said in a statement that several reports suggesting that he had personally borrowed money or had guaranteed loans worth Rs 22,000 crore were incorrect, and urged media outlets to present the facts accurately. Dr Chandra issued an official statement saying that he is issuing a press release in the interest of all stakeholders. “I have to state that certain vested media houses are spreading wrong information about my personal insolvency matter in NCLT. I urge all media platforms to publish the facts and to remove any misinformation that is incorrectly interpreted from the Court order.” Dr Chandra said that he had not borrowed any money from any lender and was involved in the matter only in his capacity as a personal guarantor for borrowing entities associated with the Essel Group. He said that the total claims against him in the personal insolvency proceedings, filed by lenders objecting to the repayment plan, stood at Rs 3,992 crore, not Rs 22,000 crore as suggested in some reports. Besides, Rs 620 crore of the Rs 3,992 crore claims has already been settled, he said, adding that the borrowing entities have offered a further settlement of Rs 1,063 crore to the lenders concerned. Dr Chandra said that the borrowing entities for which he had provided personal guarantees had repaid nearly Rs 43,000 crore against total company dues of around Rs 45,000 crore as of January 24, 2019. The borrowing entities have assured that they will settle any remaining amount. He also rejected reports regarding his personal net worth, saying that the market capitalisation of Essel Group companies had been incorrectly treated as his individual wealth. ================================================================== Dr Subhash Chandra NCLT case: Why Rs 22,000 crore claim is not his debt “Certain vested media houses are spreading wrong information about my personal insolvency matter in NCLT,” he said. He said the amounts quoted in reports were taken from documents showing claims filed in the case. Rs 43,000 crore repaid by borrowing companies He said the companies for which he had given personal guarantees had total outstanding borrowings of around Rs 45,000 crore as of January 24, 2019. “Out of this, they have returned close to Rs.43000 crores since that day,” Dr Chandra said. Dr Chandra also referred to his declaration of assets made in Parliament in 2016, when he had declared total assets worth Rs 39.08 crore. He questioned how a bank could have accepted a personal net worth of Rs 45,888 crore in 2017 when his parliamentary declaration a year earlier had shown assets worth Rs 39.08 crore.

Dr Subhash Chandra said he had not borrowed money from any lender and was involved in the matter only in his capacity as a personal guarantor for borrowing entities associated with the Essel Group. He said that the total claims against him &nbsp;stood at Rs 3,992 crore, not Rs 22,000 crore.

NCLT case: Dr Subhash Chandra denies reports of Rs 22,000-crore loan, urges media to correct facts

A British-based cryptocurrency executive wanted in the US on wire fraud and market manipulation charges could be extradited to the US to stand trial after losing his legal challenge against being sent there. Manpreet Kohli, a 45-year-old Indian national and former chief executive of cryptocurrency company Saitama, was arrested in London in 2024 after US prosecutors accused him and more than a dozen others of carrying out widespread fraud.Saitama promoted a token on the Ethereum blockchain that at one point reached a market value of $7.5 billion. Prosecutors alleged that Kohli and his co-conspirators publicly claimed to be buying and holding Saitama tokens while privately selling them for millions of dollars in profit. Kohli is alleged to have made around $20 million.Also read: <a href="https://www.wionews.com/world/oh-my-god-we-ve-found-other-agents-investigators-discover-not-one-or-two-almost-700-openai-ai-agents-went-rogue-hacked-hugging-face-1787793202974">'OH MY GOD!': Investigators find 688 OpenAI AI agents behind Hugging Face hack</a>The case followed an FBI investigation in which the agency, for the first time, created its own digital token as part of an operation to uncover cryptocurrency-related crime. Kohli challenged his extradition on several grounds, including concerns that US authorities would not have adequate measures in place to prevent him from taking his own life while in custody.However, Judge Samuel Goozee rejected his challenge on August 19 and referred the case to British ministers to decide whether his extradition should proceed. Such decisions are usually considered a formality.Also read: <a href="https://www.wionews.com/world/foreign-espionage-attacks-against-german-companies-surge-to-37-bitkom-report-reveals-1787768951594">Foreign espionage attacks against German companies surge to 37%, report reveals</a>In his ruling, Goozee said there were "clearly appropriate arrangements" in place during Kohli's transfer and within the US prison system to manage his mental health and reduce the risk of suicide to an acceptable level.Kohli remains free on £200,000 ($272,420) bail and can appeal against the ruling.Also read: <a href="https://www.wionews.com/world/nepal-floods-157-dead-400-missing-us-india-china-world-bank-mobilise-aid-1787791144479">Nepal floods: 165 dead, 400 missing; US, India, China, World Bank mobilise aid</a>

Former Saitama CEO Manpreet Kohli lost his legal challenge against UK-to-US extradition over alleged $20 million wire fraud and market manipulation charges stemming from an FBI sting operation.



A British-based cryptocurrency executive wanted in the US on wire fraud and market manipulation charges could be extradited to the US to stand trial after losing his legal challenge against being sent there. Manpreet Kohli, a 45-year-old Indian national and former chief executive of cryptocurrency company Saitama, was arrested in London in 2024 after US prosecutors accused him and more than a dozen others of carrying out widespread fraud. Saitama promoted a token on the Ethereum blockchain that at one point reached a market value of $7.5 billion. Prosecutors alleged that Kohli and his co-conspirators publicly claimed to be buying and holding Saitama tokens while privately selling them for millions of dollars in profit. Kohli is alleged to have made around $20 million. Also read: 'OH MY GOD!': Investigators find 688 OpenAI AI agents behind Hugging Face hack The case followed an FBI investigation in which the agency, for the first time, created its own digital token as part of an operation to uncover cryptocurrency-related crime. Kohli challenged his extradition on several grounds, including concerns that US authorities would not have adequate measures in place to prevent him from taking his own life while in custody. However, Judge Samuel Goozee rejected his challenge on August 19 and referred the case to British ministers to decide whether his extradition should proceed. Such decisions are usually considered a formality. Also read: Foreign espionage attacks against German companies surge to 37%, report reveals In his ruling, Goozee said there were "clearly appropriate arrangements" in place during Kohli's transfer and within the US prison system to manage his mental health and reduce the risk of suicide to an acceptable level. Kohli remains free on £200,000 ($272,420) bail and can appeal against the ruling. Also read: Nepal floods: 165 dead, 400 missing; US, India, China, World Bank mobilise aid

Former Saitama CEO Manpreet Kohli lost his legal challenge against UK-to-US extradition over alleged $20 million wire fraud and market manipulation charges stemming from an FBI sting operation.&nbsp;

Crypto CEO faces extradition to US over $ 20mn fraud case. All about it

Iran is facing fresh US sanctions aimed at putting more pressure on its already strained economy. In the southern port city of Bandar Abbas, shopkeepers say the impact is being felt directly through higher exchange rates, rising costs and pressure on everyday livelihoods.But Tehran says it can withstand the pressure, and is counting on major trading partners such as China and Russia to keep doing business with Iran. At the same time, the Strait of Hormuz remains at the centre of the crisis, disrupting a vital global shipping route.For Iranian consumers, the sanctions story is ultimately about something much closer to home, the cost of living. Shopkeepers in Bandar Abbas say the fall in the value of the Iranian currency and restrictions on trade are making imported goods more expensive and putting pressure on household budgets.Qasem Shoja, a home appliance salesperson, said, "Under any circumstances, sanctions do inflict blows. The rise in the exchange rate affects life and livelihood, but ultimately, we are Iranians, and Iranians know how to bypass sanctions well."The latest US measures were announced on August 24 by Treasury Secretary Scott Bessent. Washington says countries that continue trading with Iran could eventually risk losing access to the dollar-based financial system.But the new measures stopped short of the most severe options, and the US has not given a timeline or named countries that could be targeted.For businesses in Iran, that uncertainty matters. Importers face higher costs, while retailers have to decide how much of that increase can be passed on to customers already dealing with economic pressure.Omid Baghapour Darayaee, a clothing store owner, said, "In the way that we are under pressure, we are 100% distressed. The youth have many grievances against the officials who, really, really in my opinion, they are traitors. Why? Because they truly do not attend to the people's suffering. To me, being a responsible official means that the person should not rest. They should have iron shoes on their feet and be in the middle of the field, alongside the people."Iran, meanwhile, says sanctions will not force it into isolation. Officials have expressed confidence that major trading partners will resist Washington’s pressure, while shopkeepers say Iranians have learned to work around sanctions.And there is another major economic pressure point: the Strait of Hormuz. Most shipping through the Strait has been disrupted during the conflict.Iran and Oman said Tuesday they had discussed a joint temporary navigation corridor and a plan to clear mines from the Strait.Qasem Shoja also said, "The Strait of Hormuz is our home. It must remain closed unless we permit it, unless it is with our cooperation. We are the ones who, throughout these many years, have demonstrated Islamic clemency to the world and they took their oil for free, they took their goods; now they must interact with us."So, while the sanctions are designed as a tool of economic pressure on Tehran, their effects are also being felt by ordinary businesses and consumers, through currency volatility, trade disruptions and the rising cost of goods. And with Hormuz carrying such a large share of global energy shipments, what happens next could extend well beyond Iran’s borders.

For businesses in Iran, that uncertainty matters. Importers face higher costs, while retailers have to decide how much of that increase can be passed on to customers already dealing with economic pressure.

Iran is facing fresh US sanctions aimed at putting more pressure on its already strained economy. In the southern port city of Bandar Abbas, shopkeepers say the impact is being felt directly through higher exchange rates, rising costs and pressure on everyday livelihoods. But Tehran says it can withstand the pressure, and is counting on major trading partners such as China and Russia to keep doing business with Iran. At the same time, the Strait of Hormuz remains at the centre of the crisis, disrupting a vital global shipping route. For Iranian consumers, the sanctions story is ultimately about something much closer to home, the cost of living. Shopkeepers in Bandar Abbas say the fall in the value of the Iranian currency and restrictions on trade are making imported goods more expensive and putting pressure on household budgets. Qasem Shoja, a home appliance salesperson, said, "Under any circumstances, sanctions do inflict blows. The rise in the exchange rate affects life and livelihood, but ultimately, we are Iranians, and Iranians know how to bypass sanctions well." The latest US measures were announced on August 24 by Treasury Secretary Scott Bessent. Washington says countries that continue trading with Iran could eventually risk losing access to the dollar-based financial system. But the new measures stopped short of the most severe options, and the US has not given a timeline or named countries that could be targeted. For businesses in Iran, that uncertainty matters. Importers face higher costs, while retailers have to decide how much of that increase can be passed on to customers already dealing with economic pressure. Omid Baghapour Darayaee, a clothing store owner, said, "In the way that we are under pressure, we are 100% distressed. The youth have many grievances against the officials who, really, really in my opinion, they are traitors. Why? Because they truly do not attend to the people's suffering. To me, being a responsible official means that the person should not rest. They should have iron shoes on their feet and be in the middle of the field, alongside the people." Iran, meanwhile, says sanctions will not force it into isolation. Officials have expressed confidence that major trading partners will resist Washington’s pressure, while shopkeepers say Iranians have learned to work around sanctions. And there is another major economic pressure point: the Strait of Hormuz. Most shipping through the Strait has been disrupted during the conflict. Iran and Oman said Tuesday they had discussed a joint temporary navigation corridor and a plan to clear mines from the Strait. Qasem Shoja also said, "The Strait of Hormuz is our home. It must remain closed unless we permit it, unless it is with our cooperation. We are the ones who, throughout these many years, have demonstrated Islamic clemency to the world and they took their oil for free, they took their goods; now they must interact with us." So, while the sanctions are designed as a tool of economic pressure on Tehran, their effects are also being felt by ordinary businesses and consumers, through currency volatility, trade disruptions and the rising cost of goods. And with Hormuz carrying such a large share of global energy shipments, what happens next could extend well beyond Iran’s borders.

For businesses in Iran, that uncertainty matters. Importers face higher costs, while retailers have to decide how much of that increase can be passed on to customers already dealing with economic pressure.

Iran feels the heat of fresh sanctions, Tehran says can withstand pressure

The US on Monday (Aug 24) launched the “Operation Economic Outcast” campaign to isolate Iran financially. However, the threatened secondary sanctions on countries and businesses dealing with the Islamic Republic have not yet been imposed. Washington has instead warned third parties to cut Iran-related activity or face sanctions. Treasury Secretary Scott Bessent said the US would give countries a “cure period” but warned that action could move quickly.Bessent described the campaign as an “economic onslaught” and an “economic D-Day”.&nbsp;<h2>A gradual action plan to put pressure on Iran</h2>The first phase sanctioned more than 60 individuals, entities and vessels and expanded sanctions risk across five sectors: digital assets, technology, gold, aviation and shipping. Targets were linked to Iran’s oil revenues, nuclear and missile technology procurement and cyber operations.Bessent warned that no one is above the reach of US sanctions. He also said the administration did not want to “blow up the global financial system”, adding the US was initially giving countries an opportunity to change course. Secondary sanctions could target foreign banks, companies, vessels and other facilitators involved in Iran-related oil, finance, shipping and other restricted activity. The most severe consequence could be exclusion from the US financial system and loss of access to dollar transactions and correspondent banking.Also read: <a href="https://www.wionews.com/world/we-will-block-every-source-of-revenue-for-iran-scott-bessent-announces-damaging-new-sanctions-after-warning-of-economic-d-day-for-tehran-1787591064504">'We will block every source of revenue for Iran': Scott Bessent announces new sanctions after warning of ‘economic D-Day’ for Tehran</a><h2>China is the biggest concern for US when it comes to Iran trade</h2>China is the world’s largest buyer of Iranian oil. Most Iranian crude exports go to China, particularly independent “teapot” refineries — smaller, privately owned Chinese refineries that operate outside the major state-controlled oil companies and have been important buyers of discounted Iranian crude. The US has already sanctioned several Chinese teapot refineries, shipping companies and vessels involved in Iran’s oil trade. But the latest sanctions did not target major Chinese financial institutions, despite Washington warning that Chinese banks could face consequences.China has resisted unilateral US sanctions and has used yuan settlements, domestic financial channels and opaque shipping networks to maintain Iran trade. Any broader secondary sanctions could therefore hit Chinese refiners, banks, traders and shipping companies.The move could further complicate US-China trade relations. Targeting major Chinese banks would carry much wider financial consequences, which helps explain Washington’s cautious approach so far.<h2>How vulnerable is India to Iran-related US actions?</h2>India has historically had significant economic ties with Iran, but its exposure has fallen sharply since the US reimposed sanctions on Iranian oil. India largely stopped importing Iranian crude after 2019, reducing the risk to its overall economy. India-Iran trade is now much smaller than before 2019, with recent trade largely centred on non-oil goods. India has traditionally run a trade surplus with Iran through exports including rice, tea, pharmaceuticals and other products.The risk to India is therefore lower than to China, particularly because India has diversified its energy supplies and has previously adjusted its Iran trade to comply with US sanctions.However, Indian private companies could still be exposed. The sectors identified by Bessent — shipping, finance, gold, aviation, technology and digital assets — overlap with areas where Indian-linked entities have previously faced US sanctions for Iran-related activity.Indian banks and companies with US-dollar exposure, correspondent banking relationships or significant international operations are likely to be particularly cautious. They may avoid transactions involving designated Iranian banks and entities even without being directly sanctioned.India’s remaining economic interests in Iran, including trade in agricultural and pharmaceutical products and its strategic involvement in Chabahar Port, could therefore face greater US scrutiny.For India, the bigger immediate risk is likely to be individual companies rather than the Indian economy as a whole. New US measures could pressure firms involved in residual Iran-related shipping, finance, technology or other restricted activities.India’s diversified energy sources, reduced oil dependence and strategic partnership with Washington provide some cushion against broader economic disruption.Also read: <a href="https://www.wionews.com/world/bessent-repeats-trump-s-economic-d-day-threat-as-iran-warns-us-allies-of-act-of-war-1787539908590">US Treasury Secretary Bessent repeats Trump's 'Economic D-Day' threat as Iran warns US allies of 'act of war'</a><h2>Pakistan is stuck in the middle: Low trade with Iran but high dollar dependency</h2>Pakistan’s trade with Iran is smaller and more informal, covering oil, wheat, rice, livestock and medicines. Cross-border commerce uses barter and local-currency arrangements, limiting exposure to the formal dollar system. Nevertheless, Pakistani banks, traders, transport companies and other facilitators could face secondary-sanctions risks if they handle prohibited Iran-related transactions.Pakistan's vulnerability, however, &nbsp;comes from its dollar shortages, dependence on the IMF and exposure to international financial institutions.&nbsp;Also read: <a href="https://www.wionews.com/world/us-says-tougher-iran-sanctions-make-large-scale-war-less-likely-tehran-condemns-economic-terrorism-1787242779961">US says tougher Iran sanctions make large-scale war less likely; Tehran condemns 'economic terrorism'</a><h2>Turkey, Iraq and UAE maintain trade relations with Iran</h2>Turkey and Iraq have significant economic ties with Iran. Iraq has long traded Iranian gas for electricity, while Turkey remains an important importer of Iranian gas. The UAE has been a major hub for Iran-related trade, finance and logistics, although it has recently suspended many financial and economic transactions with Iran. Businesses and financial intermediaries in these countries could face scrutiny if they continue facilitating sanctioned activity.<a href="https://www.wionews.com/videos/trump-warns-nations-giving-any-economic-lifeline-to-iran-1787336156058/embed">https://www.wionews.com/videos/trump-warns-nations-giving-any-economic-lifeline-to-iran-1787336156058/embed</a><h2>How effective are sanctions? Iran’s trade network extends far beyond its immediate neighbours</h2>Secondary sanctions do not automatically stop all trade. They increase the cost and risk of doing business with Iran, encouraging companies and banks to self-comply or develop alternative payment and shipping channels. The US does not need to sanction an entire country to impose economic pressure. It can target specific banks, companies, vessels and individuals that facilitate Iran-related activity. Those entities could then lose access to US dollars, correspondent banking and the wider US-linked financial system.Enforcement could therefore be selective, with the greatest pressure falling on businesses that still depend heavily on the US financial system.But dealing a blow to Iranian trade is not easy. It has survived decades of sanctions by using shadow fleets, exchange houses, front companies and financial intermediaries across Hong Kong, Singapore, Europe, Russia, China and the Gulf. Washington has already identified parts of this network, but Operation Economic Outcast suggests enforcement could widen further.Operation Economic Outcast could become a global economic pressure campaign rather than a measure confined to Iran.&nbsp;Its impact on China, Pakistan and India will depend on how aggressively Washington moves from warnings and diplomacy to actual secondary sanctions in the coming days and weeks.

America's “Operation Economic Outcast” targets Iran’s economic lifelines, with secondary sanctions threatening countries and businesses. China, India and Pakistan could face pressure over Iran trade and finance. How badly could they be hit?

The US on Monday (Aug 24) launched the “Operation Economic Outcast” campaign to isolate Iran financially. However, the threatened secondary sanctions on countries and businesses dealing with the Islamic Republic have not yet been imposed. Washington has instead warned third parties to cut Iran-related activity or face sanctions. Treasury Secretary Scott Bessent said the US would give countries a “cure period” but warned that action could move quickly. Bessent described the campaign as an “economic onslaught” and an “economic D-Day”. A gradual action plan to put pressure on Iran The first phase sanctioned more than 60 individuals, entities and vessels and expanded sanctions risk across five sectors: digital assets, technology, gold, aviation and shipping. Targets were linked to Iran’s oil revenues, nuclear and missile technology procurement and cyber operations. Bessent warned that no one is above the reach of US sanctions. He also said the administration did not want to “blow up the global financial system”, adding the US was initially giving countries an opportunity to change course. Secondary sanctions could target foreign banks, companies, vessels and other facilitators involved in Iran-related oil, finance, shipping and other restricted activity. The most severe consequence could be exclusion from the US financial system and loss of access to dollar transactions and correspondent banking. Also read: 'We will block every source of revenue for Iran': Scott Bessent announces new sanctions after warning of ‘economic D-Day’ for Tehran China is the biggest concern for US when it comes to Iran trade China is the world’s largest buyer of Iranian oil. Most Iranian crude exports go to China, particularly independent “teapot” refineries — smaller, privately owned Chinese refineries that operate outside the major state-controlled oil companies and have been important buyers of discounted Iranian crude. The US has already sanctioned several Chinese teapot refineries, shipping companies and vessels involved in Iran’s oil trade. But the latest sanctions did not target major Chinese financial institutions, despite Washington warning that Chinese banks could face consequences. China has resisted unilateral US sanctions and has used yuan settlements, domestic financial channels and opaque shipping networks to maintain Iran trade. Any broader secondary sanctions could therefore hit Chinese refiners, banks, traders and shipping companies. The move could further complicate US-China trade relations. Targeting major Chinese banks would carry much wider financial consequences, which helps explain Washington’s cautious approach so far. How vulnerable is India to Iran-related US actions? India has historically had significant economic ties with Iran, but its exposure has fallen sharply since the US reimposed sanctions on Iranian oil. India largely stopped importing Iranian crude after 2019, reducing the risk to its overall economy. India-Iran trade is now much smaller than before 2019, with recent trade largely centred on non-oil goods. India has traditionally run a trade surplus with Iran through exports including rice, tea, pharmaceuticals and other products. The risk to India is therefore lower than to China, particularly because India has diversified its energy supplies and has previously adjusted its Iran trade to comply with US sanctions. However, Indian private companies could still be exposed. The sectors identified by Bessent — shipping, finance, gold, aviation, technology and digital assets — overlap with areas where Indian-linked entities have previously faced US sanctions for Iran-related activity. Indian banks and companies with US-dollar exposure, correspondent banking relationships or significant international operations are likely to be particularly cautious. They may avoid transactions involving designated Iranian banks and entities even without being directly sanctioned. India’s remaining economic interests in Iran, including trade in agricultural and pharmaceutical products and its strategic involvement in Chabahar Port, could therefore face greater US scrutiny. For India, the bigger immediate risk is likely to be individual companies rather than the Indian economy as a whole. New US measures could pressure firms involved in residual Iran-related shipping, finance, technology or other restricted activities. India’s diversified energy sources, reduced oil dependence and strategic partnership with Washington provide some cushion against broader economic disruption. Also read: US Treasury Secretary Bessent repeats Trump's 'Economic D-Day' threat as Iran warns US allies of 'act of war' Pakistan is stuck in the middle: Low trade with Iran but high dollar dependency Pakistan’s trade with Iran is smaller and more informal, covering oil, wheat, rice, livestock and medicines. Cross-border commerce uses barter and local-currency arrangements, limiting exposure to the formal dollar system. Nevertheless, Pakistani banks, traders, transport companies and other facilitators could face secondary-sanctions risks if they handle prohibited Iran-related transactions. Pakistan's vulnerability, however, comes from its dollar shortages, dependence on the IMF and exposure to international financial institutions. Also read: US says tougher Iran sanctions make large-scale war less likely; Tehran condemns 'economic terrorism' Turkey, Iraq and UAE maintain trade relations with Iran Turkey and Iraq have significant economic ties with Iran. Iraq has long traded Iranian gas for electricity, while Turkey remains an important importer of Iranian gas. The UAE has been a major hub for Iran-related trade, finance and logistics, although it has recently suspended many financial and economic transactions with Iran. Businesses and financial intermediaries in these countries could face scrutiny if they continue facilitating sanctioned activity. https://www.wionews.com/videos/trump-warns-nations-giving-any-economic-lifeline-to-iran-1787336156058/embed How effective are sanctions? Iran’s trade network extends far beyond its immediate neighbours Secondary sanctions do not automatically stop all trade. They increase the cost and risk of doing business with Iran, encouraging companies and banks to self-comply or develop alternative payment and shipping channels. The US does not need to sanction an entire country to impose economic pressure. It can target specific banks, companies, vessels and individuals that facilitate Iran-related activity. Those entities could then lose access to US dollars, correspondent banking and the wider US-linked financial system. Enforcement could therefore be selective, with the greatest pressure falling on businesses that still depend heavily on the US financial system. But dealing a blow to Iranian trade is not easy. It has survived decades of sanctions by using shadow fleets, exchange houses, front companies and financial intermediaries across Hong Kong, Singapore, Europe, Russia, China and the Gulf. Washington has already identified parts of this network, but Operation Economic Outcast suggests enforcement could widen further. Operation Economic Outcast could become a global economic pressure campaign rather than a measure confined to Iran. Its impact on China, Pakistan and India will depend on how aggressively Washington moves from warnings and diplomacy to actual secondary sanctions in the coming days and weeks.

America's “Operation Economic Outcast” targets Iran’s economic lifelines, with secondary sanctions threatening countries and businesses. China, India and Pakistan could face pressure over Iran trade and finance. How badly could they be hit?

'Operation Economic Outcast': How India, China, Pakistan could be hit by US 'Economic D Day' moves against Iran

India-based Vedanta Software, a publishing-technology firm, has launched an artificial-intelligence-based solution to one of the issues facing digital newspaper publishers around the world – converting a print page into a navigable, clickable version.&nbsp;AI Automapping integrates with the company’s flagship platform, Epaper CMS Cloud, which is adopted by publishers to build digital replica editions of their print newspapers. It was released Aug. 15 and automates the process of creating the "area maps" - the clickable zones that link text and images on a digital page to the corresponding articles, allowing readers to tap or click through a page just as they would flip through print.&nbsp;Traditionally, this mapping has been done manually, page by page — a process that can takehours for a full edition. Vedanta Software says AI Automapping reduces that to minutes, using AI to analyze page layouts and generate the mapping automatically. Publishers can process an entire edition with a single click.&nbsp;The tool is currently free during a public beta period, after which it will move to a credit-based pricing model. Publishers can sign up for AI credits at ai.vedantasoftware.com.&nbsp;“There are several repetitive tasks in digital newspaper publishing that require significant manual effort and consume valuable time,” said Ankur Gupta, founder of Vedanta Software. “Our objective is to use technology and artificial intelligence to automate such processes whereverpossible. AI Automapping is an important step in that direction, and it reflects a broader shift we're seeing across the publishing industry toward AI-assisted workflows.”&nbsp;The launch is part of a wider push by Vedanta Software to bring automation into its publishing tools as newsrooms globally look to reduce production time and operational costs. The company says it is continuing to expand its AI capabilities across its product suite.&nbsp;Vedanta Software is a publishing-technology firm based in India, working with more than 500 newspaper and digital publishers across one of the world's largest news markets — from small regional publishers to large media houses — with technology built to support publishing in multiple languages and scripts. Alongside Epaper CMS Cloud, its platform for creating digital replica editions of print newspapers, its products include Newsportal CMS, built for digital news portals, and a free WordPress plugin that lets publishers integrate their e-paper editions directly with WordPress-based news websites. The company was recognized as Software Company of the Year 2025 by Excellency Iconic Awards and India's Top Job Creator 2025 by Apna. Vedanta Software's publishing technology has also been featured by the International News Media Association (INMA) in its coverage of Sach Kahoon's efforts to tackle e-piracy. More information is available at vedantasoftware.com.

India-based Vedanta Software has launched AI Automapping, a tool that automates the creation of clickable zones on digital newspaper pages. Integrated with Epaper CMS Cloud, the AI solution cuts page-mapping work from hours to minutes, helping publishers streamline e-paper production.

India-based Vedanta Software, a publishing-technology firm, has launched an artificial-intelligence-based solution to one of the issues facing digital newspaper publishers around the world – converting a print page into a navigable, clickable version. AI Automapping integrates with the company’s flagship platform, Epaper CMS Cloud, which is adopted by publishers to build digital replica editions of their print newspapers. It was released Aug. 15 and automates the process of creating the "area maps" - the clickable zones that link text and images on a digital page to the corresponding articles, allowing readers to tap or click through a page just as they would flip through print. Traditionally, this mapping has been done manually, page by page — a process that can take hours for a full edition. Vedanta Software says AI Automapping reduces that to minutes, using AI to analyze page layouts and generate the mapping automatically. Publishers can process an entire edition with a single click. The tool is currently free during a public beta period, after which it will move to a credit-based pricing model. Publishers can sign up for AI credits at ai.vedantasoftware.com. “There are several repetitive tasks in digital newspaper publishing that require significant manual effort and consume valuable time,” said Ankur Gupta, founder of Vedanta Software. “Our objective is to use technology and artificial intelligence to automate such processes wherever possible. AI Automapping is an important step in that direction, and it reflects a broader shift we're seeing across the publishing industry toward AI-assisted workflows.” The launch is part of a wider push by Vedanta Software to bring automation into its publishing tools as newsrooms globally look to reduce production time and operational costs. The company says it is continuing to expand its AI capabilities across its product suite. Vedanta Software is a publishing-technology firm based in India, working with more than 500 newspaper and digital publishers across one of the world's largest news markets — from small regional publishers to large media houses — with technology built to support publishing in multiple languages and scripts. Alongside Epaper CMS Cloud, its platform for creating digital replica editions of print newspapers, its products include Newsportal CMS, built for digital news portals, and a free WordPress plugin that lets publishers integrate their e-paper editions directly with WordPress-based news websites. The company was recognized as Software Company of the Year 2025 by Excellency Iconic Awards and India's Top Job Creator 2025 by Apna. Vedanta Software's publishing technology has also been featured by the International News Media Association (INMA) in its coverage of Sach Kahoon's efforts to tackle e-piracy. More information is available at vedantasoftware.com.

India-based Vedanta Software has launched AI Automapping, a tool that automates the creation of clickable zones on digital newspaper pages. Integrated with Epaper CMS Cloud, the AI solution cuts page-mapping work from hours to minutes, helping publishers streamline e-paper production.

Indian software firm launches AI tool to automate digital newspaper production

A political debate is raging in India about the rise in sugar prices, which the government is attributing to festive demand and lower sugarcane yields, even as sugar-linked stocks hit 52-week highs on Monday (Aug 24). Opposition parties such as the Congress and the Aam Aadmi Party (AAP) have blamed the rise in sugar prices on the use of sugarcane-derived products to produce ethanol for blending in petrol. The E20 petrol programme, under which 20 per cent ethanol is blended with 80 per cent petrol, was a planned policy rollout rather than a direct consequence of fuel import disruptions. However, India's energy security concerns were complicated by the Iran-US war, the Russia-Ukraine war and disruptions to energy transhipments through the Strait of Hormuz. The situation is increasingly looking unsustainable, with the government stepping in to allow duty-free imports of sugar to address concerns over tight supplies.<h2>Is the diversion of sugar for ethanol blending in petrol the real cause of sugar price hikes?</h2>India does use sugar and sugarcane byproducts for its ethanol blending programme. Sugarcane-based feedstocks for ethanol include direct cane juice, syrup, and B-heavy and C-heavy molasses.But recent reports say that other sources such as maize and surplus rice from the Food Corporation of India (FCI), as well as damaged foodgrains, account for the larger share of ethanol production. Around 32 per cent of the ethanol supplied to oil marketing companies for blending with petrol comes from sugarcane-based feedstocks, while the grain-based share is larger, at roughly 68 per cent.<a href="https://www.wionews.com/videos/e10-or-e20-should-consumers-get-a-choice-1786974307957/embed">https://www.wionews.com/videos/e10-or-e20-should-consumers-get-a-choice-1786974307957/embed</a><h2>Govt pushes back on claims linking ethanol blending with sugar price rise</h2>India's Ministry of Consumer Affairs has repeatedly said it is incorrect to attribute the recent increase in sugar prices to the diversion of sugar for ethanol production. The share of sugar diverted for ethanol fell from 12 per cent in 2022-23 to 9 per cent in 2025-26, per the government. Nearly three-fourths of India's ethanol production now comes from grains, particularly maize.The government insisted that lower-than-expected domestic production of sugar is to blame for the rising prices. Sugar production during the current season is expected to be around 30.6 million tonnes, against an initial estimate of around 34.3 million. Production was affected by Red Rot and Top Borer diseases in sugarcane, as well as waterlogging caused by excessive rainfall. Festive-season demand, tighter global supplies and speculation and hoarding are adding to the pressure.International sugar prices have also risen by more than 16 per cent in recent months, adding to the pressure on domestic prices. The West Indian Sugar Mills Association (WISMA) and other industry representatives have said declining sugarcane output and stockpiling are contributing to the current crisis, rather than ethanol blending alone.'Also read: <a href="https://www.wionews.com/world/e20-petrol-row-puri-says-only-four-contaminated-samples-found-rahul-gandhi-steps-up-attack-1786122960349">E20 petrol row: Puri says only four contaminated samples found, Rahul Gandhi steps up attack</a><h2>Nothing new: Sugar prices have always been politicised</h2>With several politicians directly having stakes in the sugar industry, price fluctuations have always been a political issue. The AAP and Congress have seen an opportunity to accuse the government of diverting sugar towards ethanol for the E20 blending programme, arguing that this has reduced sugar availability and contributed to the spike.It should be noted that, in the past few years, millions of tonnes of sugar have been diverted towards ethanol in the food-versus-fuel trade-off, in which it can be more profitable to use the commodity in the energy industry.This season, around 3 million tonnes of sugar are estimated to have been diverted towards ethanol. But the brighter side for farmers and mills is that higher sugar prices can make sugar production more profitable. The government has also said that diverting surplus sugar towards ethanol has helped improve the financial health of sugar mills and facilitated timely payments to farmers. As of August 20, 97 per cent of sugarcane dues for the 2025-26 season had been paid.Also read: <a href="https://www.wionews.com/india-news/what-s-behind-rising-sugar-prices-in-india-government-breaks-silence-says-ethano-not-to-blamel-1787370008114">What's behind rising sugar prices in India? Government breaks silence, says 'ethanol...'</a><h2>The stock price spikes of sugar-linked firms</h2>Sugar stocks rallied sharply on Monday, with several companies hitting their 52-week highs. Shares of Bajaj Hindusthan Sugar, Avadh Sugar &amp; Energy, Dalmia Bharat Sugar and Industries, Dhampur Sugar Mills, Dwarikesh Sugar Industries, Magadh Sugar &amp; Energy, Mawana Sugars, Ponni Sugars, Ugar Sugar Works and Uttam Sugar Mills all hit their respective 52-week highs. Some stocks rose by as much as 12 per cent in intraday trade, reflecting investor optimism over the sector's near-term outlook amid rising sugar prices and tighter domestic supplies.The rally is supply-and-demand driven, particularly after the government tightened stockholding limits. Sugar mills may also shift their preference towards sugar production over ethanol as higher sugar prices improve returns.The government has assured consumers that there are enough sugar stocks to meet domestic demand, yet it has also allowed duty-free imports of 1 million tonnes of raw sugar until October 31. The move highlights concerns over tight supplies ahead of the festive season.The government has also taken measures such as imposing a 400-tonne stock limit on sugar dealers from August 1 to November 30, while bulk consumers will not be allowed to hold sugar stocks exceeding 15 days of consumption from September 1. These measures are aimed at preventing hoarding and artificial shortages.

India's sugar prices are rising amid festive demand and lower production. The political debate is continuing on whether the price rise has to do with  E20 ethanol blending in petrol. The government is pushing back

A political debate is raging in India about the rise in sugar prices, which the government is attributing to festive demand and lower sugarcane yields, even as sugar-linked stocks hit 52-week highs on Monday (Aug 24). Opposition parties such as the Congress and the Aam Aadmi Party (AAP) have blamed the rise in sugar prices on the use of sugarcane-derived products to produce ethanol for blending in petrol. The E20 petrol programme, under which 20 per cent ethanol is blended with 80 per cent petrol, was a planned policy rollout rather than a direct consequence of fuel import disruptions. However, India's energy security concerns were complicated by the Iran-US war, the Russia-Ukraine war and disruptions to energy transhipments through the Strait of Hormuz. The situation is increasingly looking unsustainable, with the government stepping in to allow duty-free imports of sugar to address concerns over tight supplies. Is the diversion of sugar for ethanol blending in petrol the real cause of sugar price hikes? India does use sugar and sugarcane byproducts for its ethanol blending programme. Sugarcane-based feedstocks for ethanol include direct cane juice, syrup, and B-heavy and C-heavy molasses. But recent reports say that other sources such as maize and surplus rice from the Food Corporation of India (FCI), as well as damaged foodgrains, account for the larger share of ethanol production. Around 32 per cent of the ethanol supplied to oil marketing companies for blending with petrol comes from sugarcane-based feedstocks, while the grain-based share is larger, at roughly 68 per cent. https://www.wionews.com/videos/e10-or-e20-should-consumers-get-a-choice-1786974307957/embed Govt pushes back on claims linking ethanol blending with sugar price rise India's Ministry of Consumer Affairs has repeatedly said it is incorrect to attribute the recent increase in sugar prices to the diversion of sugar for ethanol production. The share of sugar diverted for ethanol fell from 12 per cent in 2022-23 to 9 per cent in 2025-26, per the government. Nearly three-fourths of India's ethanol production now comes from grains, particularly maize. The government insisted that lower-than-expected domestic production of sugar is to blame for the rising prices. Sugar production during the current season is expected to be around 30.6 million tonnes, against an initial estimate of around 34.3 million. Production was affected by Red Rot and Top Borer diseases in sugarcane, as well as waterlogging caused by excessive rainfall. Festive-season demand, tighter global supplies and speculation and hoarding are adding to the pressure. International sugar prices have also risen by more than 16 per cent in recent months, adding to the pressure on domestic prices. The West Indian Sugar Mills Association (WISMA) and other industry representatives have said declining sugarcane output and stockpiling are contributing to the current crisis, rather than ethanol blending alone.' Also read: E20 petrol row: Puri says only four contaminated samples found, Rahul Gandhi steps up attack Nothing new: Sugar prices have always been politicised With several politicians directly having stakes in the sugar industry, price fluctuations have always been a political issue. The AAP and Congress have seen an opportunity to accuse the government of diverting sugar towards ethanol for the E20 blending programme, arguing that this has reduced sugar availability and contributed to the spike. It should be noted that, in the past few years, millions of tonnes of sugar have been diverted towards ethanol in the food-versus-fuel trade-off, in which it can be more profitable to use the commodity in the energy industry. This season, around 3 million tonnes of sugar are estimated to have been diverted towards ethanol. But the brighter side for farmers and mills is that higher sugar prices can make sugar production more profitable. The government has also said that diverting surplus sugar towards ethanol has helped improve the financial health of sugar mills and facilitated timely payments to farmers. As of August 20, 97 per cent of sugarcane dues for the 2025-26 season had been paid. Also read: What's behind rising sugar prices in India? Government breaks silence, says 'ethanol...' The stock price spikes of sugar-linked firms Sugar stocks rallied sharply on Monday, with several companies hitting their 52-week highs. Shares of Bajaj Hindusthan Sugar, Avadh Sugar & Energy, Dalmia Bharat Sugar and Industries, Dhampur Sugar Mills, Dwarikesh Sugar Industries, Magadh Sugar & Energy, Mawana Sugars, Ponni Sugars, Ugar Sugar Works and Uttam Sugar Mills all hit their respective 52-week highs. Some stocks rose by as much as 12 per cent in intraday trade, reflecting investor optimism over the sector's near-term outlook amid rising sugar prices and tighter domestic supplies. The rally is supply-and-demand driven, particularly after the government tightened stockholding limits. Sugar mills may also shift their preference towards sugar production over ethanol as higher sugar prices improve returns. The government has assured consumers that there are enough sugar stocks to meet domestic demand, yet it has also allowed duty-free imports of 1 million tonnes of raw sugar until October 31. The move highlights concerns over tight supplies ahead of the festive season. The government has also taken measures such as imposing a 400-tonne stock limit on sugar dealers from August 1 to November 30, while bulk consumers will not be allowed to hold sugar stocks exceeding 15 days of consumption from September 1. These measures are aimed at preventing hoarding and artificial shortages.

India's sugar prices are rising amid festive demand and lower production. The political debate is continuing on whether the price rise has to do with &nbsp;E20 ethanol blending in petrol. The government is pushing back

India's sugar-linked stocks soar to 52-week highs even as govt inisists rising prices, shortage not linked to ethanol blending for E20 petrol

The Iranian rial fell to a record low of more than 2 million per US dollar on informal markets on Monday (Aug 24). The official central bank rate hovered near 1.5 million. The currency has been weakening over the past few days, trading around 1.86 million per dollar last week and losing more than 7 per cent in under seven days. One toman, the daily monetary unit of Iran, equals 10 rials, which means the dollar surpassed 200,000 tomans for the first time.<h2>Iranian currency is hit hard by sanctions, inflation and now the war</h2>The weakness in the Iranian currency results from damage caused by decades of international sanctions, double-digit inflation and negative economic growth. The situation has only worsened in the past couple of years, first with the Iran-Israel conflict, protests over economic woes, and now the ongoing war with the US and Israel since late February.Iranians are feeling the pinch, with food prices rising sharply. Inflation is expected to reach 70 per cent this year, while the economy is projected to contract by more than 5 per cent.Also read: <a href="https://www.wionews.com/photos/-us-vs-iran-why-has-iran-s-rial-lost-about-20-000-of-its-value-since-1979-1769421606760">Why has Iran’s rial lost about 20,000× of its value since 1979?</a><h2>Weak currency amid US warning of economic D-Day on Iran</h2>The Iranian rial fell even as the US is preparing for what US Treasury Secretary Scott Bessent called an “economic D-Day” for Iran. Writing in the Financial Times, Bessent said the objective is to “sever every economic lifeline that sustains the tyrannical regime until Tehran stands alone”. He called it the single greatest financial offensive ever directed at an adversary.<a href="https://www.wionews.com/videos/iranian-rial-hits-historic-low-pezeshkian-admits-iran-faces-many-problems-1787547366029/embed">https://www.wionews.com/videos/iranian-rial-hits-historic-low-pezeshkian-admits-iran-faces-many-problems-1787547366029/embed</a><h2>The US is aiming for the greatest coordinated isolation in history</h2>The Trump administration is expected to announce economic measures against Iran later on Monday. US President Donald Trump has termed it a “crushing economic operation” intended to collapse the Iranain regime while minimising large-scale military action. Bessent called it “the greatest coordinated isolation in history” of a nation.The punitive actions could build on the already existing “maximum pressure” on Iran, which includes a US naval blockade and the rescinding of oil-related sanctions waivers.Additional secondary sanctions are expected, targeting countries and companies that continue to do business with Iran. Both oil purchases and money transfers to or from Iran could be hit too. Bessent asked US allies to choose sides, warning that those providing any lifeline to Iran would face economic consequences.Also read: <a href="https://www.wionews.com/world/frozen-billions-iran-s-money-and-peace-talks-explained-1776412578739">Frozen billions: Iran’s money and peace talks explained</a><h2>The two-month window to end the war has closed</h2>A 60-day window under a June memorandum of understanding between the US and Iran has expired, with both sides exchanging fire throughout those weeks. There was no agreement on the Iran nuclear issue or sanctions relief. The United Arab Emirates (UAE), a former key re-export hub, has recently suspended trade with Iran.

Iran’s rial fell past 2 million to the dollar as US President Donald Trump and Treasury Secretary Scott Bessent warned of a massive economic warfare on the Islamic Republic. The “economic D-Day” could include secondary sanctions. The crushing inflation and war are fomenting a crisis

The Iranian rial fell to a record low of more than 2 million per US dollar on informal markets on Monday (Aug 24). The official central bank rate hovered near 1.5 million. The currency has been weakening over the past few days, trading around 1.86 million per dollar last week and losing more than 7 per cent in under seven days. One toman, the daily monetary unit of Iran, equals 10 rials, which means the dollar surpassed 200,000 tomans for the first time. Iranian currency is hit hard by sanctions, inflation and now the war The weakness in the Iranian currency results from damage caused by decades of international sanctions, double-digit inflation and negative economic growth. The situation has only worsened in the past couple of years, first with the Iran-Israel conflict, protests over economic woes, and now the ongoing war with the US and Israel since late February. Iranians are feeling the pinch, with food prices rising sharply. Inflation is expected to reach 70 per cent this year, while the economy is projected to contract by more than 5 per cent. Also read: Why has Iran’s rial lost about 20,000× of its value since 1979? Weak currency amid US warning of economic D-Day on Iran The Iranian rial fell even as the US is preparing for what US Treasury Secretary Scott Bessent called an “economic D-Day” for Iran. Writing in the Financial Times, Bessent said the objective is to “sever every economic lifeline that sustains the tyrannical regime until Tehran stands alone”. He called it the single greatest financial offensive ever directed at an adversary. https://www.wionews.com/videos/iranian-rial-hits-historic-low-pezeshkian-admits-iran-faces-many-problems-1787547366029/embed The US is aiming for the greatest coordinated isolation in history The Trump administration is expected to announce economic measures against Iran later on Monday. US President Donald Trump has termed it a “crushing economic operation” intended to collapse the Iranain regime while minimising large-scale military action. Bessent called it “the greatest coordinated isolation in history” of a nation. The punitive actions could build on the already existing “maximum pressure” on Iran, which includes a US naval blockade and the rescinding of oil-related sanctions waivers. Additional secondary sanctions are expected, targeting countries and companies that continue to do business with Iran. Both oil purchases and money transfers to or from Iran could be hit too. Bessent asked US allies to choose sides, warning that those providing any lifeline to Iran would face economic consequences. Also read: Frozen billions: Iran’s money and peace talks explained The two-month window to end the war has closed A 60-day window under a June memorandum of understanding between the US and Iran has expired, with both sides exchanging fire throughout those weeks. There was no agreement on the Iran nuclear issue or sanctions relief. The United Arab Emirates (UAE), a former key re-export hub, has recently suspended trade with Iran.

Iran’s rial fell past 2 million to the dollar as US President Donald Trump and Treasury Secretary Scott Bessent warned of a massive economic warfare on the Islamic Republic. The “economic D-Day” could include secondary sanctions. The crushing inflation and war are fomenting a crisis

2,000,000 rial to a dollar: Iranian currency is on record freefall amid US warning of economic ‘D-Day’

New Zealand's coalition government took its most concrete step yet to curb under-16s' use of social media with the introduction of the Online Safety (Minimum Age and Child Safety Risk Assessment) Bill. Introduced in Parliament on Monday (Aug 24), the bill requires high-risk platforms such as Meta-owned Instagram and Facebook, as well as TikTok, Snapchat, YouTube, X and others, to take reasonable steps to prevent under-16s from holding accounts. Particularly targeted are endless-scroll features, algorithmic manipulation and feedback loops, as well as social AI companions.<h2>A stringent bill if passed, with strong penalties</h2>The bill mandates facial age estimation, digital ID and formal identification for age verification, while self-declaration alone is not enough. Platforms must conduct annual child-safety risk assessments covering illegal and harmful content, advertising, profiling and design features.They are also expected to report to a new regulator within the Department of Internal Affairs.The penalties could be as high as 10 per cent of a platform's global annual revenue.The tools for compliance will range from warnings and audits to geo-blocking and criminal sanctions for providing false information.No penalties will be imposed on children or their parents.Also read: <a href="https://www.wionews.com/india-news/social-media-ban-for-teens-on-the-cards-pm-modi-praises-australia-s-under-16-social-media-ban-says-we-re-taking-lessons-from-you-1783614717670">Social media ban for teens on the cards? PM Modi praises Australia's under-16 ban, says 'we're taking lessons from you'</a><h2>Messaging apps, VPNs are excluded</h2>Excluded from the law's purview are messaging apps such as WhatsApp and Discord, multiplayer games such as Roblox, online music streaming services, educational and health platforms, as well as productivity AI such as ChatGPT, Gemini and Copilot. VPNs are also unregulated.<h2>Coalition partners are not in full alignment with the bill. Will it pass?</h2>Government coalition partners ACT and New Zealand First have opposed the bill under the "agree to disagree" provision. The ruling National Party needs Labour's support for it to pass. The first reading of the bill is not expected before Parliament rises ahead of the November election. Prime Minister Christopher Luxon has acknowledged that the legislation will not progress before the election, leaving its future uncertain.<a href="https://www.wionews.com/videos/australia-government-stands-by-online-law-defends-social-media-ban-1785744703432/embed">https://www.wionews.com/videos/australia-government-stands-by-online-law-defends-social-media-ban-1785744703432/embed</a><h2>How tough is the under-16 bill in NZ compared to Australia?</h2>The New Zealand bill is the latest in a series of similar laws and regulations, particularly following Australia's world-first legislation. The Online Safety Amendment (Social Media Minimum Age) Act, which came into force on 10 December 2025 in Australia, is now facing questions over implementation. The law imposed an under-16 account restriction on similar social media platforms. Penalties can reach A$49.5 million for companies.&nbsp;&nbsp;The Australian law explicitly prevents platforms from requiring government-issued identification or Digital ID as the only option for age assurance. Users must have a reasonable alternative.According to the Australian government, millions of under-16 accounts have been removed or restricted since the rules came into effect. However, Australia's eSafety regulator has said significant numbers of under-16s remain on social media.New Zealand's bill mirrors Australia's platform list and risk-assessment approach. The main differences are the addition of social AI companions and revenue-percentage-based penalties instead of Australia's fixed maximum fines.Also read: <a href="https://www.wionews.com/india-news/is-india-planning-australia-like-social-media-ban-for-children-under-16-what-we-know-1771386744225">Is India planning Australia-like social media ban for children under 16? What we know</a><h2>Other countries following suit on teen social media use bans</h2>The UK is considering an Australia-style under-16 ban, which could be effective from early 2027. The regulations could also include restrictions on teen livestreaming and stranger contact for under-18s.France passed an under-15 social media ban in July, but the measure was struck down by the Constitutional Council in August, that cited concerns about disproportionate limits on free expression and inadequate safeguards. A revised bill is likely to come up in 2027.Indonesia, Malaysia, Turkey and Spain are also pushing similar legislation, while Indian authorities are also looking into the issue of teen social media use and addiction.

New Zealand introduced a bill to restrict under-16s from social media. Age verification will be strictly implemented and social media platforms could face revenue-linked and hefty penalties. But can the coalition government pass it, with elections around the corner in November?

New Zealand's coalition government took its most concrete step yet to curb under-16s' use of social media with the introduction of the Online Safety (Minimum Age and Child Safety Risk Assessment) Bill. Introduced in Parliament on Monday (Aug 24), the bill requires high-risk platforms such as Meta-owned Instagram and Facebook, as well as TikTok, Snapchat, YouTube, X and others, to take reasonable steps to prevent under-16s from holding accounts. Particularly targeted are endless-scroll features, algorithmic manipulation and feedback loops, as well as social AI companions. A stringent bill if passed, with strong penalties The bill mandates facial age estimation, digital ID and formal identification for age verification, while self-declaration alone is not enough. Platforms must conduct annual child-safety risk assessments covering illegal and harmful content, advertising, profiling and design features. They are also expected to report to a new regulator within the Department of Internal Affairs. The penalties could be as high as 10 per cent of a platform's global annual revenue. The tools for compliance will range from warnings and audits to geo-blocking and criminal sanctions for providing false information. No penalties will be imposed on children or their parents. Also read: Social media ban for teens on the cards? PM Modi praises Australia's under-16 ban, says 'we're taking lessons from you' Messaging apps, VPNs are excluded Excluded from the law's purview are messaging apps such as WhatsApp and Discord, multiplayer games such as Roblox, online music streaming services, educational and health platforms, as well as productivity AI such as ChatGPT, Gemini and Copilot. VPNs are also unregulated. Coalition partners are not in full alignment with the bill. Will it pass? Government coalition partners ACT and New Zealand First have opposed the bill under the "agree to disagree" provision. The ruling National Party needs Labour's support for it to pass. The first reading of the bill is not expected before Parliament rises ahead of the November election. Prime Minister Christopher Luxon has acknowledged that the legislation will not progress before the election, leaving its future uncertain. https://www.wionews.com/videos/australia-government-stands-by-online-law-defends-social-media-ban-1785744703432/embed How tough is the under-16 bill in NZ compared to Australia? The New Zealand bill is the latest in a series of similar laws and regulations, particularly following Australia's world-first legislation. The Online Safety Amendment (Social Media Minimum Age) Act, which came into force on 10 December 2025 in Australia, is now facing questions over implementation. The law imposed an under-16 account restriction on similar social media platforms. Penalties can reach A$49.5 million for companies. The Australian law explicitly prevents platforms from requiring government-issued identification or Digital ID as the only option for age assurance. Users must have a reasonable alternative. According to the Australian government, millions of under-16 accounts have been removed or restricted since the rules came into effect. However, Australia's eSafety regulator has said significant numbers of under-16s remain on social media. New Zealand's bill mirrors Australia's platform list and risk-assessment approach. The main differences are the addition of social AI companions and revenue-percentage-based penalties instead of Australia's fixed maximum fines. Also read: Is India planning Australia-like social media ban for children under 16? What we know Other countries following suit on teen social media use bans The UK is considering an Australia-style under-16 ban, which could be effective from early 2027. The regulations could also include restrictions on teen livestreaming and stranger contact for under-18s. France passed an under-15 social media ban in July, but the measure was struck down by the Constitutional Council in August, that cited concerns about disproportionate limits on free expression and inadequate safeguards. A revised bill is likely to come up in 2027. Indonesia, Malaysia, Turkey and Spain are also pushing similar legislation, while Indian authorities are also looking into the issue of teen social media use and addiction.

New Zealand introduced a bill to restrict under-16s from social media. Age verification will be strictly implemented and social media platforms could face revenue-linked and hefty penalties. But can the coalition government pass it, with elections around the corner in November?

New Zealand under-16 social media ban: The bill moved in parliament has some teeth. But will it pass?

The battle over Paramount Skydance's proposed acquisition of Warner Bros. Discovery has taken another turn after California Attorney General Rob Bonta called off a planned settlement meeting with Paramount. Bonta has reportedly accused the company of acting in bad faith and said discussions could resume when Paramount is ready to address the state's concerns.<h2>Why did the settlement of the Paramount-Warner meeting fall apart?</h2>California’s attorney general has reportedly scrapped talks scheduled for Monday with representatives of Paramount over the company’s planned $110 billion takeover of Warner Bros. Discovery. As per New York Times report, the &nbsp;parties were due to discuss a potential settlement of California’s lawsuit that is attempting to block the merger and was canceled late on Sunday by Attorney General Rob Bonta.&nbsp;In a statement to the NYT, Bonta accused Paramount of leaking information from a Friday meeting between the two sides. “Not only did Paramount leak the alleged substance of settlement discussions, but they misrepresented these discussions, demonstrating a lack of good faith,” Bonta said in the statement. “As soon as Paramount stops playing games and engages sincerely, my office is happy to meet again.”&nbsp;Also Read: <a href="https://www.wionews.com/entertainment/new-block-in-paramount-warner-bros-deal-judge-set-merger-trial-in-march-1785899558651">New block in Paramount-Warner Bros. Deal: Judge set merger trial in March</a>&nbsp;At the heart of the dispute is Paramount Skydance's proposed acquisition of Warner Bros. Discovery, a transaction valued at roughly $110 billion. If completed, the deal would bring major entertainment assets under one company, including Paramount+, HBO Max, CBS and a huge library of film and television properties.&nbsp;&nbsp;Also Read: <a href="https://www.wionews.com/entertainment/hollywood/mark-ruffalo-vs-paramount-actor-fires-back-after-studio-calls-his-remarks-antisemitic-1787472113233/amp">Mark Ruffalo vs Paramount: Actor fires back after studio calls his remarks ‘Antisemitic’</a>&nbsp;But a coalition of 12 Democratic state attorneys general, including California, filed suit last month to block the merger, arguing that it would violate anti-trust law and ultimately harm Hollywood by squeezing out competition.<h2>Trouble brewing for both the studios – Paramount and Warner Bros?</h2>California and 11 other states sued in July to stop the transaction, arguing that combining two major Hollywood studios would significantly reduce competition. The states contend that the merged company could control nearly one-third of U.S. theatrical films and a similar share of basic cable programming.&nbsp;Also Read: <a href="https://www.wionews.com/entertainment/hollywood/paramount-warner-bros-merger-court-hears-multi-state-challenge-against-111b-deal-1784343023354">Paramount-Warner Bros merger: Court hears multi-state challenge against $111B deal</a>&nbsp;Paramount, meanwhile, has been pushing to complete the transaction and has argued that the merger would strengthen its position in an increasingly competitive entertainment industry. The company is also facing increasing financial pressure from delays. Under the deal terms, Paramount could face so-called “ticking fees” of about $7 million a day if the transaction remains delayed beyond the relevant deadline. Paramount has separately asked a federal judge to require the states and the Writers Guild of America, which is also challenging the merger, to post a $1.88 billion bond to cover potential losses from delaying the transaction.&nbsp;Also Read: <a href="https://www.wionews.com/entertainment/paramount-and-warner-bros-110b-merger-paused-here-s-what-has-happened-1784600744765">Paramount and Warner Bros $110B merger paused, here's what has happened</a>&nbsp;With settlement talks now called off, the Paramount-Warner Bros. battle is once again heading toward the courtroom, unless the two sides manage to rebuild trust and return to negotiations. A federal trial is currently expected in 2027, as per reports, making the coming months crucial for the future of the proposed merger.

The proposed Paramount-Warner Bros. Discovery merger has hit another roadblock as California Attorney General Rob Bonta pulled out of planned settlement discussions with Paramount. Read to know more. 

The battle over Paramount Skydance's proposed acquisition of Warner Bros. Discovery has taken another turn after California Attorney General Rob Bonta called off a planned settlement meeting with Paramount. Bonta has reportedly accused the company of acting in bad faith and said discussions could resume when Paramount is ready to address the state's concerns. Why did the settlement of the Paramount-Warner meeting fall apart? California’s attorney general has reportedly scrapped talks scheduled for Monday with representatives of Paramount over the company’s planned $110 billion takeover of Warner Bros. Discovery. As per New York Times report, the parties were due to discuss a potential settlement of California’s lawsuit that is attempting to block the merger and was canceled late on Sunday by Attorney General Rob Bonta. In a statement to the NYT, Bonta accused Paramount of leaking information from a Friday meeting between the two sides. “Not only did Paramount leak the alleged substance of settlement discussions, but they misrepresented these discussions, demonstrating a lack of good faith,” Bonta said in the statement. “As soon as Paramount stops playing games and engages sincerely, my office is happy to meet again.” Also Read: New block in Paramount-Warner Bros. Deal: Judge set merger trial in March At the heart of the dispute is Paramount Skydance's proposed acquisition of Warner Bros. Discovery, a transaction valued at roughly $110 billion. If completed, the deal would bring major entertainment assets under one company, including Paramount+, HBO Max, CBS and a huge library of film and television properties. Also Read: Mark Ruffalo vs Paramount: Actor fires back after studio calls his remarks ‘Antisemitic’ But a coalition of 12 Democratic state attorneys general, including California, filed suit last month to block the merger, arguing that it would violate anti-trust law and ultimately harm Hollywood by squeezing out competition. Trouble brewing for both the studios – Paramount and Warner Bros? California and 11 other states sued in July to stop the transaction, arguing that combining two major Hollywood studios would significantly reduce competition. The states contend that the merged company could control nearly one-third of U.S. theatrical films and a similar share of basic cable programming. Also Read: Paramount-Warner Bros merger: Court hears multi-state challenge against $111B deal Paramount, meanwhile, has been pushing to complete the transaction and has argued that the merger would strengthen its position in an increasingly competitive entertainment industry. The company is also facing increasing financial pressure from delays. Under the deal terms, Paramount could face so-called “ticking fees” of about $7 million a day if the transaction remains delayed beyond the relevant deadline. Paramount has separately asked a federal judge to require the states and the Writers Guild of America, which is also challenging the merger, to post a $1.88 billion bond to cover potential losses from delaying the transaction. Also Read: Paramount and Warner Bros $110B merger paused, here's what has happened With settlement talks now called off, the Paramount-Warner Bros. battle is once again heading toward the courtroom, unless the two sides manage to rebuild trust and return to negotiations. A federal trial is currently expected in 2027, as per reports, making the coming months crucial for the future of the proposed merger.

The proposed Paramount-Warner Bros. Discovery merger has hit another roadblock as California Attorney General Rob Bonta pulled out of planned settlement discussions with Paramount. Read to know more.&nbsp;

Paramount-Warner merger faces fresh hurdle as California attorney cancels settlement meeting

Nvidia and other firms have raised AI chip prices as surging demand for artificial intelligence hardware pushes up memory costs in what is being described in the media as ‘RAMageddon’ or ‘RAMpocalypse’. Memory costs are now squeezing Indian IT firms, data-centre operators and electronics makers. A global shortage of DRAM or Dynamic Random-Access Memory and high-bandwidth memory (HBM) is deepening. The memory crisis that began in 2025 intensified in 2026. Memory prices rose sharply as chipmakers redirected capacity towards more profitable AI-related products.<h2>AI turns up the heat: Rise of HBM chips</h2>High-bandwidth memory (HBM) multi-stack chips are fast gaining ground over traditional RAM in AI systems. HBM is estimated to account for more than a fifth of DRAM wafer input among major suppliers. Producing the equivalent amount of HBM memory can require roughly three to four times the wafer capacity used for conventional DDR5 chips.Hyperscalers including Microsoft, Google, Amazon and Meta are securing large volumes of HBM and server DRAM for AI training and inference. Such long-term supply agreements and open-ended orders have led to a squeeze in memory availability.Memory makers like Samsung, SK Hynix and Micron have shifted capacity towards HBM and high-capacity server memory. These three companies together control about 95 per cent of the DRAM market. Their shift in priorities has left less capacity for PCs, smartphones, gaming consoles and conventional enterprise hardware.Also read: <a href="https://www.wionews.com/world/us-banned-its-best-chips-from-china-renting-them-is-still-legal-1787169656437">US banned its best chips from China. Renting them is still legal</a><h2>Prices are surging for memory</h2>Conventional DRAM contract prices jumped by about 90-98 per cent quarter-on-quarter in the first quarter of 2026. Overall DRAM and NAND prices have risen by 200-400 per cent in some segments since the shortage intensified.For instance, retail DDR5 memory kits that used to sell for about $80-250 in mid-2025 are now worth $300-650 or more. Server DRAM lead times have also exceeded 40 weeks.<a href="https://www.wionews.com/videos/chip-workers-gain-higher-pay-status-security-in-south-korea-1786083318916/embed">https://www.wionews.com/videos/chip-workers-gain-higher-pay-status-security-in-south-korea-1786083318916/embed</a><h2>The supply squeeze is unlikely to disappear quickly</h2>Chip fabrication plants can cost up to $20 billion and take years to reach full production. This is the reson why US firms are locking in supplies, signing multi-year contracts and passing on higher costs to consumers by raising prices.Besides Nvidia raising prices for AI chips, firms like Apple, Microsoft, Dell, Lenovo, HP and HPE have increased prices on their phones, computers, &nbsp;gaming consoles and servers by up to 15 per cent. Others that have recently raised prices include Asus and Cisco.&nbsp;Samsung, SK Hynix and Micron have also announced substantial increases for DRAM and HBM as they prioritise higher-margin products.<h2>Indian IT sector feels the squeeze of memory crisis</h2>Indian technology companies are facing the impact in the form of costlier hardware, data centres and infrastructure. They are trying to adjust to the situation with various strategies. For instance, Tech Mahindra avoided guaranteeing fixed memory and chip prices to customers. HCL Technologies is investing $350 million in data-centre capacity.The consumer market is feeling the pressure too. Smartphone shipments in India fell by about 10 per cent year-on-year in the second quarter of 2026. The sub-Rs 20,000 segment is particularly hit, due to the squeeze in hardware availability.&nbsp;Also read: <a href="https://www.wionews.com/world/anthropic-has-stacked-71-billion-in-chip-lease-debt-in-60-days-and-kept-it-off-its-books-1786631219409">Anthropic has stacked $71 billion in chip-lease debt in 60 days and kept it off its books</a>&nbsp;India is also trying to reduce its dependence on imported chips and chip components. The India Semiconductor Mission is backing further investment in semiconductors and memory-related infrastructure. Micron has begun commercial production at its assembly-and-test facility in Gujarat. &nbsp;Projected investment in India's data-centre ecosystem has crossed $200 billion.For Indian IT firms, the challenge is not limited to the price of a memory chip. The rising cost is hitting servers, data centres, smartphones and AI infrastructure as demand for computing capacity soars.

High demand for AI compute is causing a global crunch in memory. Chip costs are rising, which is leading to higher prices for all tech products, both software and hardware. Indian IT firms, data centres and electronics makers are tackling higher costs as supply tightens.

Nvidia and other firms have raised AI chip prices as surging demand for artificial intelligence hardware pushes up memory costs in what is being described in the media as ‘RAMageddon’ or ‘RAMpocalypse’. Memory costs are now squeezing Indian IT firms, data-centre operators and electronics makers. A global shortage of DRAM or Dynamic Random-Access Memory and high-bandwidth memory (HBM) is deepening. The memory crisis that began in 2025 intensified in 2026. Memory prices rose sharply as chipmakers redirected capacity towards more profitable AI-related products. AI turns up the heat: Rise of HBM chips High-bandwidth memory (HBM) multi-stack chips are fast gaining ground over traditional RAM in AI systems. HBM is estimated to account for more than a fifth of DRAM wafer input among major suppliers. Producing the equivalent amount of HBM memory can require roughly three to four times the wafer capacity used for conventional DDR5 chips. Hyperscalers including Microsoft, Google, Amazon and Meta are securing large volumes of HBM and server DRAM for AI training and inference. Such long-term supply agreements and open-ended orders have led to a squeeze in memory availability. Memory makers like Samsung, SK Hynix and Micron have shifted capacity towards HBM and high-capacity server memory. These three companies together control about 95 per cent of the DRAM market. Their shift in priorities has left less capacity for PCs, smartphones, gaming consoles and conventional enterprise hardware. Also read: US banned its best chips from China. Renting them is still legal Prices are surging for memory Conventional DRAM contract prices jumped by about 90-98 per cent quarter-on-quarter in the first quarter of 2026. Overall DRAM and NAND prices have risen by 200-400 per cent in some segments since the shortage intensified. For instance, retail DDR5 memory kits that used to sell for about $80-250 in mid-2025 are now worth $300-650 or more. Server DRAM lead times have also exceeded 40 weeks. https://www.wionews.com/videos/chip-workers-gain-higher-pay-status-security-in-south-korea-1786083318916/embed The supply squeeze is unlikely to disappear quickly Chip fabrication plants can cost up to $20 billion and take years to reach full production. This is the reson why US firms are locking in supplies, signing multi-year contracts and passing on higher costs to consumers by raising prices. Besides Nvidia raising prices for AI chips, firms like Apple, Microsoft, Dell, Lenovo, HP and HPE have increased prices on their phones, computers, gaming consoles and servers by up to 15 per cent. Others that have recently raised prices include Asus and Cisco. Samsung, SK Hynix and Micron have also announced substantial increases for DRAM and HBM as they prioritise higher-margin products. Indian IT sector feels the squeeze of memory crisis Indian technology companies are facing the impact in the form of costlier hardware, data centres and infrastructure. They are trying to adjust to the situation with various strategies. For instance, Tech Mahindra avoided guaranteeing fixed memory and chip prices to customers. HCL Technologies is investing $350 million in data-centre capacity. The consumer market is feeling the pressure too. Smartphone shipments in India fell by about 10 per cent year-on-year in the second quarter of 2026. The sub-Rs 20,000 segment is particularly hit, due to the squeeze in hardware availability. Also read: Anthropic has stacked $71 billion in chip-lease debt in 60 days and kept it off its books India is also trying to reduce its dependence on imported chips and chip components. The India Semiconductor Mission is backing further investment in semiconductors and memory-related infrastructure. Micron has begun commercial production at its assembly-and-test facility in Gujarat. Projected investment in India's data-centre ecosystem has crossed $200 billion. For Indian IT firms, the challenge is not limited to the price of a memory chip. The rising cost is hitting servers, data centres, smartphones and AI infrastructure as demand for computing capacity soars.

High demand for AI compute is causing a global crunch in memory. Chip costs are rising, which is leading to higher prices for all tech products, both software and hardware. Indian IT firms, data centres and electronics makers are tackling higher costs as supply tightens.

RAMageddon: Memory cost crisis squeezes IT firms as AI demand fuels global chip crunch

The Ministry of Electronics and Information Technology (MeitY) has announced the Mobile Phone Manufacturing Scheme (MPMS), with a budgetary outlay of Rs 62,500 crore, aiming to increase global competitiveness by enhancing scale, deepening the mobile manufacturing supply chain through higher Domestic Value Addition (DVA), and strengthening domestic manufacturing capabilities. The scheme will also support Indian mobile phone companies to accomplish technological sovereignty, capture greater economic value, and encourage Indian patents in design and R&amp;D, along with employment generation. In response, Ashwini Vaishnaw, Union Minister for Electronics and Information Technology, stated that the Mobile Phone Manufacturing Scheme will provide a significant impetus to the development of Indian-owned mobile brands, intellectual property and design. He also emphasised the importance of genuine Indian ownership, along with formulation of the design, intellectual property and brand as Indian-owned with capability to compete with the best products in the respective market segment. He added that the Government is set to undertake a meticulous evaluation to ensure Indian-owned intellectual property, while non-fiscal and other support measures will be developed in consultation with the industry.&nbsp;Also read: <a href="https://www.wionews.com/india-news/delhi-sees-rise-in-h1n1-cases-as-government-issues-alert-know-symptoms-precautions-and-when-you-should-see-a-doctor-1787481583917">Delhi sees rise in H1N1 cases as government issues alert. Know symptoms, precautions and how does it spread</a><h3>How will the scheme work and help?</h3>At present, India is the 2nd largest mobile phone manufacturer in the world by volume, accounting for 99.2 per cent of the production of mobile phones which are being used in India. It has emerged as India's single largest exported product category in 2025, along with surpassing traditional leading export items.&nbsp;The announced scheme will run for five years, covering FY 2026-27 through FY 2030-31, with TS2 applicants eligible for a one-year gestation period. TS1 offers a differentiated incentive ranging from 2.25 per cent to 5 per cent, while TS2 provides a 5 per cent incentive for Indian Brands, plus an extra 3 per cent for Indian design and R&amp;D, along with non-fiscal support. Both target segments can also avail an additional incentive of up to 1.5 per cent for sourcing key components and sub-assemblies domestically. Eligible applicants include mobile phone manufacturers and India-registered Electronics Manufacturing Services (EMS) providers, with sales and incentives calculated on a brand-wise basis. It also provides an additional incentive of up to 1.5 per cent for the domestic sourcing of key components and sub-assemblies, which is designed to reward and reinforce genuine, deep-rooted domestic manufacturing. Reacting to it, Nitish Gopalani, CEO, Fonada, said, “India's Rs 62,500-crore Mobile Phone Manufacturing Scheme comes at a pivotal moment, as smartphones become increasingly AI-centric. Cloud LLMs, voice AI, real-time translation and on-device models are reshaping everyday use, while AI quality, latency and privacy are becoming genuine purchase and upgrade criteria. As these capabilities reach mid-range devices, they could broaden replacement demand.”&nbsp;“What makes MPMS strategically important is its focus beyond manufacturing scale and domestic sourcing: in its Indian-brand track, it adds a 3 per cent incentive for Indian design and R&amp;D, while requiring IP and trademarks to be held in India. That signals that scale in assembly is no longer the end goal. If India pairs its manufacturing base with Indian-language AI, local inference and domestic product design, it can move further up the value chain, owning more of the intelligence, IP and experience inside the device,” Gopalani added. So, the expected outcome of the government is to make mobile phone production under the scheme reach nearly Rs 39 lakh crore during its tenure, accompanied by a substantial increase in exports. The government also confirmed that MPMS is likely to generate 60,000 direct jobs, contributing to economic growth, employment generation, and bolstering India’s position as a global electronics manufacturing hub.

Ashwini Vaishnaw, Union Minister for Electronics and Information Technology, stated that the Mobile Phone Manufacturing Scheme will provide a significant impetus to the development of Indian-owned mobile brands, intellectual property and design.

The Ministry of Electronics and Information Technology (MeitY) has announced the Mobile Phone Manufacturing Scheme (MPMS), with a budgetary outlay of Rs 62,500 crore, aiming to increase global competitiveness by enhancing scale, deepening the mobile manufacturing supply chain through higher Domestic Value Addition (DVA), and strengthening domestic manufacturing capabilities. The scheme will also support Indian mobile phone companies to accomplish technological sovereignty, capture greater economic value, and encourage Indian patents in design and R&D, along with employment generation. In response, Ashwini Vaishnaw, Union Minister for Electronics and Information Technology, stated that the Mobile Phone Manufacturing Scheme will provide a significant impetus to the development of Indian-owned mobile brands, intellectual property and design. He also emphasised the importance of genuine Indian ownership, along with formulation of the design, intellectual property and brand as Indian-owned with capability to compete with the best products in the respective market segment. He added that the Government is set to undertake a meticulous evaluation to ensure Indian-owned intellectual property, while non-fiscal and other support measures will be developed in consultation with the industry. Also read: Delhi sees rise in H1N1 cases as government issues alert. Know symptoms, precautions and how does it spread How will the scheme work and help? At present, India is the 2nd largest mobile phone manufacturer in the world by volume, accounting for 99.2 per cent of the production of mobile phones which are being used in India. It has emerged as India's single largest exported product category in 2025, along with surpassing traditional leading export items. The announced scheme will run for five years, covering FY 2026-27 through FY 2030-31, with TS2 applicants eligible for a one-year gestation period. TS1 offers a differentiated incentive ranging from 2.25 per cent to 5 per cent, while TS2 provides a 5 per cent incentive for Indian Brands, plus an extra 3 per cent for Indian design and R&D, along with non-fiscal support. Both target segments can also avail an additional incentive of up to 1.5 per cent for sourcing key components and sub-assemblies domestically. Eligible applicants include mobile phone manufacturers and India-registered Electronics Manufacturing Services (EMS) providers, with sales and incentives calculated on a brand-wise basis. It also provides an additional incentive of up to 1.5 per cent for the domestic sourcing of key components and sub-assemblies, which is designed to reward and reinforce genuine, deep-rooted domestic manufacturing. Reacting to it, Nitish Gopalani, CEO, Fonada, said, “India's Rs 62,500-crore Mobile Phone Manufacturing Scheme comes at a pivotal moment, as smartphones become increasingly AI-centric. Cloud LLMs, voice AI, real-time translation and on-device models are reshaping everyday use, while AI quality, latency and privacy are becoming genuine purchase and upgrade criteria. As these capabilities reach mid-range devices, they could broaden replacement demand.” “What makes MPMS strategically important is its focus beyond manufacturing scale and domestic sourcing: in its Indian-brand track, it adds a 3 per cent incentive for Indian design and R&D, while requiring IP and trademarks to be held in India. That signals that scale in assembly is no longer the end goal. If India pairs its manufacturing base with Indian-language AI, local inference and domestic product design, it can move further up the value chain, owning more of the intelligence, IP and experience inside the device,” Gopalani added. So, the expected outcome of the government is to make mobile phone production under the scheme reach nearly Rs 39 lakh crore during its tenure, accompanied by a substantial increase in exports. The government also confirmed that MPMS is likely to generate 60,000 direct jobs, contributing to economic growth, employment generation, and bolstering India’s position as a global electronics manufacturing hub.

Ashwini Vaishnaw, Union Minister for Electronics and Information Technology, stated that the Mobile Phone Manufacturing Scheme will provide a significant impetus to the development of Indian-owned mobile brands, intellectual property and design.

EXPLAINED: How will India’s new Rs 62,500-crore smartphone manufacturing scheme boost local brands?

Forex inflows under the special USD-INR swap facility of the Reserve Bank of India have totalled USD 72.85 billion as of August 21, with FCNR(B) deposits making up the largest share under the scheme, according to the central bank data released on Saturday. The RBI confirmed that authorised dealer banks reported USD 65.397 billion in inflows via Foreign Currency Non-Resident (Bank) [FCNR(B)] deposits under the scheme through August 21. Overseas foreign currency borrowings (OFCBs) contributed USD 4.86 billion, while external commercial borrowings (ECBs) added USD 2.591 billion. The apex bank launched the special USD-INR forex swap facility on June 8 to boost foreign currency inflows through FCNR(B) deposits, ECBs and OFCBs. The facility was designed with the aim of providing support for foreign currency inflows through these channels and strengthening the availability of foreign exchange in the domestic financial system. The RBI confirmed that the window for FCNR(B) deposits under the scheme remains open until August 31, while the facility for ECBs and OFCBs will remain available until December 31.<h3>FCNR(B) deposits as source of foreign currency mobilisation</h3>The latest data indicates that FCNR(B) deposits have surfaced as a powerful source of foreign currency mobilisation under the facility. It accounts for approximately 90 per cent of the total inflows, and the combined inflows from OFCBs and ECBs stood at around USD 7.45 billion. The robust fundraising comes as the FCNR(B) deposit deadline approaches at the end of August, underscoring the strong uptake by banks and overseas depositors of the RBI's special forex facility. The central bank had previously said the FCNR(B) window would shut on August 31, while the ECB and OFCB components would run for a longer stretch. The latest figures offer an update on how much authorised dealer banks have utilised the facility as of August 21. The USD 72.85 billion raised across the three components marks a sizeable mobilisation of foreign currency through the RBI-backed scheme, with FCNR(B) deposits continuing to drive the bulk of it.

The apex bank launched the special USD-INR forex swap facility on June 8 to boost foreign currency inflows through FCNR(B) deposits, ECBs and OFCBs to support foreign currency inflows through these channels and strengthen the availability of foreign exchange in the domestic financial system.

Forex inflows under the special USD-INR swap facility of the Reserve Bank of India have totalled USD 72.85 billion as of August 21, with FCNR(B) deposits making up the largest share under the scheme, according to the central bank data released on Saturday. The RBI confirmed that authorised dealer banks reported USD 65.397 billion in inflows via Foreign Currency Non-Resident (Bank) [FCNR(B)] deposits under the scheme through August 21. Overseas foreign currency borrowings (OFCBs) contributed USD 4.86 billion, while external commercial borrowings (ECBs) added USD 2.591 billion. The apex bank launched the special USD-INR forex swap facility on June 8 to boost foreign currency inflows through FCNR(B) deposits, ECBs and OFCBs. The facility was designed with the aim of providing support for foreign currency inflows through these channels and strengthening the availability of foreign exchange in the domestic financial system. The RBI confirmed that the window for FCNR(B) deposits under the scheme remains open until August 31, while the facility for ECBs and OFCBs will remain available until December 31. FCNR(B) deposits as source of foreign currency mobilisation The latest data indicates that FCNR(B) deposits have surfaced as a powerful source of foreign currency mobilisation under the facility. It accounts for approximately 90 per cent of the total inflows, and the combined inflows from OFCBs and ECBs stood at around USD 7.45 billion. The robust fundraising comes as the FCNR(B) deposit deadline approaches at the end of August, underscoring the strong uptake by banks and overseas depositors of the RBI's special forex facility. The central bank had previously said the FCNR(B) window would shut on August 31, while the ECB and OFCB components would run for a longer stretch. The latest figures offer an update on how much authorised dealer banks have utilised the facility as of August 21. The USD 72.85 billion raised across the three components marks a sizeable mobilisation of foreign currency through the RBI-backed scheme, with FCNR(B) deposits continuing to drive the bulk of it.

The apex bank launched the special USD-INR forex swap facility on June 8 to boost foreign currency inflows through FCNR(B) deposits, ECBs and OFCBs to support foreign currency inflows through these channels and strengthen the availability of foreign exchange in the domestic financial system.

RBI's forex swap facility reach $72.85 billion as FCNR(B) deposits tops USD 65 Billion

Cloud migration has become a defining feature of digital transformation across the banking industry. Financial institutions continue to invest billions in modernising technology estates, replacing legacy infrastructure with scalable cloud platforms that promise greater agility, lower operating costs and faster innovation. But there is an uncomfortable question that deserves more attention: what happens when banks move poor-quality data onto better infrastructure?&nbsp;Cloud migration can modernise the technology environment, but it does not automatically modernise the data within it. An organisation can successfully migrate applications, decommission legacy servers and reduce infrastructure costs while continuing to struggle with inaccurate, duplicated or inconsistent information. For banks, that distinction matters. Data sits at the centre of regulatory reporting, financial crime prevention, customer onboarding, credit risk modelling, ESG disclosures and, increasingly, artificial intelligence. If inconsistent or duplicated information is simply transferred into a new cloud environment, organisations risk modernising technology without improving the quality of the decisions that depend on it.&nbsp;Also read: <a href="https://www.wionews.com/world/cloud-war-aws-bahrain-disrupted-again-as-drone-strikes-target-amazon-s-digital-infrastructure-1774337057775">Cloud war: AWS Bahrain disrupted again as drone strikes target Amazon's digital infrastructure</a>&nbsp;One of the most common challenges facing large financial institutions is the existence of multiple definitions for core business entities such as customers, accounts and transactions. Years of mergers, acquisitions, product expansion and disconnected legacy systems often leave organisations with conflicting records and inconsistent business rules.&nbsp;Cloud migration can successfully move that information into a modern platform. What it cannot do on its own is decide which definition is correct, who owns the data or how conflicting records should be resolved. Vedanarayan Bhat, a senior technical business analyst specialising in digital banking transformation, says, “Moving a mess to the cloud doesn't clean the mess. It simply makes the mess load faster.”&nbsp;Cloud technology has matured significantly over the past decade, making infrastructure migration more predictable. The harder task is creating a trusted data foundation that supports both business operations and regulatory compliance. This is where transformation programmes need to look beyond the migration itself.&nbsp;Establishing consistent business definitions, documenting data lineage, assigning ownership and creating governance frameworks across technology, operations, risk and compliance teams can require more organisational alignment than the technical migration. Yet these are the activities that determine whether the investment produces lasting value.&nbsp;The importance of this work is becoming even more pronounced as banks invest in artificial intelligence and advanced analytics. AI models are only as reliable as the information used to train and operate them. Poor data quality can undermine predictive models, increase operational risk and reduce confidence in automated decision-making. In this context, the cloud provides the computing power. Trusted data provides the foundation.&nbsp;According to Bhat, organisations achieving the greatest return on cloud investment are those that treat migration as an opportunity to improve enterprise data management rather than simply replace infrastructure.“Cloud is no longer the differentiator. Data quality, ownership and lineage are what determine whether a transformation programme delivers lasting business value.”&nbsp;Regulatory expectations reinforce the same principle. Frameworks governing financial risk, operational resilience, financial crime prevention and sustainability reporting require institutions to demonstrate confidence in the accuracy, completeness and traceability of their data. A sophisticated cloud environment cannot compensate for weak data governance. That is why the definition of transformation success is beginning to change. Instead of measuring progress primarily through migration speed, organisations are increasingly looking at outcomes such as reductions in duplicate records, improvements in data quality, documented lineage, clearly assigned ownership and greater confidence in enterprise reporting.&nbsp;These indicators may appear less impressive on programme dashboards than the number of workloads migrated. They are nevertheless a more meaningful measure of whether transformation is delivering value beyond the technology estate.The distinction will become increasingly important as cloud adoption becomes standard across the banking sector. Infrastructure that was once considered a competitive advantage is becoming a basic capability. The differentiator will increasingly be what organisations can do with the trusted data sitting on top of it.&nbsp;The banks that stand apart will not necessarily be those that migrate the fastest. They will be those that use migration programmes to establish data that is trusted, governed and fit for innovation, regulatory compliance and better customer outcomes.&nbsp;“Success should not be measured by the number of applications migrated. It should be measured by how much confidence an organisation has gained in its data," Bhat notes. Ultimately, cloud migration provides the infrastructure for digital transformation. Whether that transformation delivers lasting value depends on something more fundamental: whether the organisation can trust the data it builds upon.

Cloud migration modernises banking infrastructure, but without robust data governance, organisations risk moving legacy data quality issues to faster systems. Learn why data lineage, ownership, and quality, not migration speed. It defines true digital transformation success. 

Cloud migration has become a defining feature of digital transformation across the banking industry. Financial institutions continue to invest billions in modernising technology estates, replacing legacy infrastructure with scalable cloud platforms that promise greater agility, lower operating costs and faster innovation. But there is an uncomfortable question that deserves more attention: what happens when banks move poor-quality data onto better infrastructure? Cloud migration can modernise the technology environment, but it does not automatically modernise the data within it. An organisation can successfully migrate applications, decommission legacy servers and reduce infrastructure costs while continuing to struggle with inaccurate, duplicated or inconsistent information. For banks, that distinction matters. Data sits at the centre of regulatory reporting, financial crime prevention, customer onboarding, credit risk modelling, ESG disclosures and, increasingly, artificial intelligence. If inconsistent or duplicated information is simply transferred into a new cloud environment, organisations risk modernising technology without improving the quality of the decisions that depend on it. Also read: Cloud war: AWS Bahrain disrupted again as drone strikes target Amazon's digital infrastructure One of the most common challenges facing large financial institutions is the existence of multiple definitions for core business entities such as customers, accounts and transactions. Years of mergers, acquisitions, product expansion and disconnected legacy systems often leave organisations with conflicting records and inconsistent business rules. Cloud migration can successfully move that information into a modern platform. What it cannot do on its own is decide which definition is correct, who owns the data or how conflicting records should be resolved. Vedanarayan Bhat, a senior technical business analyst specialising in digital banking transformation, says, “Moving a mess to the cloud doesn't clean the mess. It simply makes the mess load faster.” Cloud technology has matured significantly over the past decade, making infrastructure migration more predictable. The harder task is creating a trusted data foundation that supports both business operations and regulatory compliance. This is where transformation programmes need to look beyond the migration itself. Establishing consistent business definitions, documenting data lineage, assigning ownership and creating governance frameworks across technology, operations, risk and compliance teams can require more organisational alignment than the technical migration. Yet these are the activities that determine whether the investment produces lasting value. The importance of this work is becoming even more pronounced as banks invest in artificial intelligence and advanced analytics. AI models are only as reliable as the information used to train and operate them. Poor data quality can undermine predictive models, increase operational risk and reduce confidence in automated decision-making. In this context, the cloud provides the computing power. Trusted data provides the foundation. According to Bhat, organisations achieving the greatest return on cloud investment are those that treat migration as an opportunity to improve enterprise data management rather than simply replace infrastructure. “Cloud is no longer the differentiator. Data quality, ownership and lineage are what determine whether a transformation programme delivers lasting business value.” Regulatory expectations reinforce the same principle. Frameworks governing financial risk, operational resilience, financial crime prevention and sustainability reporting require institutions to demonstrate confidence in the accuracy, completeness and traceability of their data. A sophisticated cloud environment cannot compensate for weak data governance. That is why the definition of transformation success is beginning to change. Instead of measuring progress primarily through migration speed, organisations are increasingly looking at outcomes such as reductions in duplicate records, improvements in data quality, documented lineage, clearly assigned ownership and greater confidence in enterprise reporting. These indicators may appear less impressive on programme dashboards than the number of workloads migrated. They are nevertheless a more meaningful measure of whether transformation is delivering value beyond the technology estate. The distinction will become increasingly important as cloud adoption becomes standard across the banking sector. Infrastructure that was once considered a competitive advantage is becoming a basic capability. The differentiator will increasingly be what organisations can do with the trusted data sitting on top of it. The banks that stand apart will not necessarily be those that migrate the fastest. They will be those that use migration programmes to establish data that is trusted, governed and fit for innovation, regulatory compliance and better customer outcomes. “Success should not be measured by the number of applications migrated. It should be measured by how much confidence an organisation has gained in its data," Bhat notes. Ultimately, cloud migration provides the infrastructure for digital transformation. Whether that transformation delivers lasting value depends on something more fundamental: whether the organisation can trust the data it builds upon.

Cloud migration modernises banking infrastructure, but without robust data governance, organisations risk moving legacy data quality issues to faster systems. Learn why data lineage, ownership, and quality, not migration speed. It defines true digital transformation success.

Why cloud migration alone won't solve banking's data problem

&nbsp;Samsung Electronics has raised prices for some advanced chipmaking services by up to 15 per cent, according to people familiar with the matter, as the AI boom puts growing pressure on semiconductor manufacturing capacity.&nbsp;The increase affects chips made using Samsung's 4nm, 5nm and 8nm processes. Customers in China and the US are facing the steepest increases, with some prices rising between 10% and 15%. The development is significant because Samsung's foundry business has struggled for years to compete with Taiwan Semiconductor Manufacturing Co, or TSMC.&nbsp;<h2>Why are Samsung's chip prices rising?</h2>The main reason is simple: AI companies need enormous amounts of advanced chips, but manufacturing capacity is limited.&nbsp;TSMC remains the dominant player. Counterpoint estimates that it controlled about 73% of the pure-play foundry market in the first quarter of 2026, compared with 7% for Samsung Foundry. With TSMC's leading-edge capacity heavily booked, some customers are looking for alternatives. That gives Samsung more room to increase prices. Samsung's 4nm SF4 prices rose by 10% to 15% for customers in China and the US, according to Reuters' sources. Prices for Taiwan-based customers increased by 5% to 10%. Its 5nm SF5 wafers also became 10% to 15% more expensive, while 8nm prices rose by almost 10%. Samsung declined to comment on the reported changes.&nbsp;<h2>China faces some of the biggest increases</h2>Chinese customers are reportedly among those accepting the steepest price rises. US restrictions on advanced chipmaking equipment have made it harder for Chinese companies to access cutting-edge domestic manufacturing. That has increased their reliance on overseas foundries. At the same time, Samsung's own capacity is under pressure. Its SF4 line at the Pyeongtaek plant in South Korea has reportedly been running at full capacity since late 2025. The company is also reserving capacity for its own semiconductor products, including components used in high-bandwidth memory systems.&nbsp;<h2>Samsung sees a chance to revive its foundry business</h2>The price increase could be an important turning point for Samsung. Its foundry division has struggled with profitability since 2022, while its memory business has benefited enormously from AI demand. Samsung's overall semiconductor position has also strengthened through partnerships across the AI supply chain. Samsung and Broadcom recently announced a collaboration spanning memory, foundry and advanced packaging, with the companies expecting more than $200 billion of combined business through 2030. Samsung has also secured or pursued chipmaking relationships involving companies including Tesla, Apple, Nvidia and Google. Analysts now believe stronger demand, higher factory utilisation and better production yields could help Samsung's foundry business return to profitability sooner. The bigger picture is clear: the AI boom is no longer just increasing demand for powerful chips. It is also giving chipmakers more power to decide how much those chips cost.

Samsung has reportedly raised prices for advanced foundry services by up to 15% as AI demand tightens chipmaking capacity. The move could strengthen Samsung's struggling foundry business, while customers face higher costs for advanced 4nm and 5nm chips.

Samsung Electronics has raised prices for some advanced chipmaking services by up to 15 per cent, according to people familiar with the matter, as the AI boom puts growing pressure on semiconductor manufacturing capacity. The increase affects chips made using Samsung's 4nm, 5nm and 8nm processes. Customers in China and the US are facing the steepest increases, with some prices rising between 10% and 15%. The development is significant because Samsung's foundry business has struggled for years to compete with Taiwan Semiconductor Manufacturing Co, or TSMC. Why are Samsung's chip prices rising? The main reason is simple: AI companies need enormous amounts of advanced chips, but manufacturing capacity is limited. TSMC remains the dominant player. Counterpoint estimates that it controlled about 73% of the pure-play foundry market in the first quarter of 2026, compared with 7% for Samsung Foundry. With TSMC's leading-edge capacity heavily booked, some customers are looking for alternatives. That gives Samsung more room to increase prices. Samsung's 4nm SF4 prices rose by 10% to 15% for customers in China and the US, according to Reuters' sources. Prices for Taiwan-based customers increased by 5% to 10%. Its 5nm SF5 wafers also became 10% to 15% more expensive, while 8nm prices rose by almost 10%. Samsung declined to comment on the reported changes. China faces some of the biggest increases Chinese customers are reportedly among those accepting the steepest price rises. US restrictions on advanced chipmaking equipment have made it harder for Chinese companies to access cutting-edge domestic manufacturing. That has increased their reliance on overseas foundries. At the same time, Samsung's own capacity is under pressure. Its SF4 line at the Pyeongtaek plant in South Korea has reportedly been running at full capacity since late 2025. The company is also reserving capacity for its own semiconductor products, including components used in high-bandwidth memory systems. Samsung sees a chance to revive its foundry business The price increase could be an important turning point for Samsung. Its foundry division has struggled with profitability since 2022, while its memory business has benefited enormously from AI demand. Samsung's overall semiconductor position has also strengthened through partnerships across the AI supply chain. Samsung and Broadcom recently announced a collaboration spanning memory, foundry and advanced packaging, with the companies expecting more than $200 billion of combined business through 2030. Samsung has also secured or pursued chipmaking relationships involving companies including Tesla, Apple, Nvidia and Google. Analysts now believe stronger demand, higher factory utilisation and better production yields could help Samsung's foundry business return to profitability sooner. The bigger picture is clear: the AI boom is no longer just increasing demand for powerful chips. It is also giving chipmakers more power to decide how much those chips cost.

Samsung has reportedly raised prices for advanced foundry services by up to 15% as AI demand tightens chipmaking capacity. The move could strengthen Samsung's struggling foundry business, while customers face higher costs for advanced 4nm and 5nm chips.

Samsung raises semiconductor prices by up to 15%: What’s driving the increase

The United States' gross national debt has crossed the $40 trillion mark for the first time, according to data from the US Treasury Department. The whopping debt highlights the growing pressure on government finances as borrowing costs rise and long-term spending commitments expand.Total public debt outstanding reached $40.05 trillion at the close of business Tuesday (Aug 18). The figure is higher than an earlier Congressional Budget Office forecast, which had projected that total borrowing would reach $39.4 trillion by the end of fiscal year 2026.Also read | <a href="https://www.wionews.com/world/trump-announces-crushing-economic-campaign-against-iran-threatens-allies-with-tremendous-penalties-1787186991774">Trump announces ‘crushing’ economic campaign against Iran, threatens allies with ‘tremendous’ penalties</a><h2>Why is US debt rising?</h2>The US government routinely borrows to cover the gap between its spending and revenue. But the scale of that borrowing has grown sharply in recent years.Long-term obligations linked to Social Security and healthcare are increasing, while higher interest rates have made servicing existing debt more expensive. Government spending, including costs linked to the war in the Middle East, and tax cuts have added to the borrowing requirement.Jessica Riedl, a budget and tax fellow at the Brookings Institution, said the US has been running deficits of roughly $2 trillion even during periods of peace and economic growth."Over the last few years, the United States has moved into roughly $2 trillion deficits, even during peace and prosperity," she told AFP.Riedl noted that deficits that once stood at around 3 per cent to 4 per cent of GDP are now closer to 6 per cent to 7 per cent, making financial markets increasingly nervous.Also read | <a href="https://www.wionews.com/world/someday-your-children-will-white-house-attacks-cnn-reporter-after-question-about-trump-aide-natalie-harp-1787018113542">'Someday, your children will...': White House attacks CNN reporter after question about Trump aide Natalie Har</a><h2>Higher interest costs add to the pressure</h2>The rise in debt comes as investors are already concerned about inflation, government spending, and the economic impact of the war in Iran.Long-term Treasury yields rose Tuesday to their highest level since 2007, increasing the cost of refinancing government debt. The Treasury moved to calm the long-term bond market early Wednesday, sending yields lower.Higher borrowing costs do not affect the government alone. If Treasury yields remain elevated, consumers and businesses could also face more expensive borrowing, potentially weighing on economic growth.<h2>Is $40 trillion a crisis?</h2>The $40 trillion milestone is significant, but it does not automatically mean the US is facing a debt crisis.Economists generally consider debt held by the public more meaningful when assessing the economic impact of government borrowing than gross national debt. Still, the milestone is a warning sign for financial markets."It has made markets more nervous," Riedl said, adding that such landmarks can prompt investors to take another look at the country's borrowing trajectory.Caleb Quakenbush of the Bipartisan Policy Center said US spending trends have not been addressed by Congress or successive administrations in a "meaningful or durable way."The US Treasury has previously set a goal of reducing the federal deficit to 3per cent of GDP, but the latest figures underline the scale of the challenge facing Washington.

America's debt has crossed a number once considered almost unimaginable. With borrowing costs rising and annual deficits still running into trillions, the US has now crossed the $40 trillion mark. But does that mean a debt crisis is coming?

The United States' gross national debt has crossed the $40 trillion mark for the first time, according to data from the US Treasury Department. The whopping debt highlights the growing pressure on government finances as borrowing costs rise and long-term spending commitments expand. Total public debt outstanding reached $40.05 trillion at the close of business Tuesday (Aug 18). The figure is higher than an earlier Congressional Budget Office forecast, which had projected that total borrowing would reach $39.4 trillion by the end of fiscal year 2026. Also read | Trump announces ‘crushing’ economic campaign against Iran, threatens allies with ‘tremendous’ penalties Why is US debt rising? The US government routinely borrows to cover the gap between its spending and revenue. But the scale of that borrowing has grown sharply in recent years. Long-term obligations linked to Social Security and healthcare are increasing, while higher interest rates have made servicing existing debt more expensive. Government spending, including costs linked to the war in the Middle East, and tax cuts have added to the borrowing requirement. Jessica Riedl, a budget and tax fellow at the Brookings Institution, said the US has been running deficits of roughly $2 trillion even during periods of peace and economic growth. "Over the last few years, the United States has moved into roughly $2 trillion deficits, even during peace and prosperity," she told AFP. Riedl noted that deficits that once stood at around 3 per cent to 4 per cent of GDP are now closer to 6 per cent to 7 per cent, making financial markets increasingly nervous. Also read | 'Someday, your children will...': White House attacks CNN reporter after question about Trump aide Natalie Har Higher interest costs add to the pressure The rise in debt comes as investors are already concerned about inflation, government spending, and the economic impact of the war in Iran. Long-term Treasury yields rose Tuesday to their highest level since 2007, increasing the cost of refinancing government debt. The Treasury moved to calm the long-term bond market early Wednesday, sending yields lower. Higher borrowing costs do not affect the government alone. If Treasury yields remain elevated, consumers and businesses could also face more expensive borrowing, potentially weighing on economic growth. Is $40 trillion a crisis? The $40 trillion milestone is significant, but it does not automatically mean the US is facing a debt crisis. Economists generally consider debt held by the public more meaningful when assessing the economic impact of government borrowing than gross national debt. Still, the milestone is a warning sign for financial markets. "It has made markets more nervous," Riedl said, adding that such landmarks can prompt investors to take another look at the country's borrowing trajectory. Caleb Quakenbush of the Bipartisan Policy Center said US spending trends have not been addressed by Congress or successive administrations in a "meaningful or durable way." The US Treasury has previously set a goal of reducing the federal deficit to 3per cent of GDP, but the latest figures underline the scale of the challenge facing Washington.

America's debt has crossed a number once considered almost unimaginable. With borrowing costs rising and annual deficits still running into trillions, the US has now crossed the $40 trillion mark. But does that mean a debt crisis is coming?

America's debt hits a staggering $40 trillion for the first time. Is the US heading for a crisis?

Zee Media Corporation CEO Raktim Das has outlined an ambitious growth roadmap for the company, with WION's expansion, the relaunch of Zee Bharat, technology-led newsroom transformation and revenue diversification emerging as key priorities. In an exclusive conversation with Zee Business Managing Editor Anil Singhvi, Das discussed the company's quarterly performance, upcoming projects and its strategy for sustainable growth.<h2>WION expansion to remain a key growth focus</h2>Speaking about the company's flagship brands and future priorities, Das highlighted WION, India's global news channel, as an important part of Zee Media's next phase of expansion WION is celebrating its 10th anniversary, and according to Das, the channel is set to expand further across both domestic and international markets in the coming quarters. The company sees an opportunity to build WION's global presence while strengthening its reach in India. Alongside WION, Zee Media will continue to focus on its core brands, including Zee News and Zee Business. At Zee Business, the company is also evaluating subscription-led offerings and premium content as it looks to develop additional revenue streams.<h2>Zee Bharat gets a new avatar</h2>Another major focus area is the relaunch of Zee Bharat, which is being positioned as a youth-focused, digital-first news and culture platform. Das said the new Zee Bharat is a social-first, digital-native, 24/7 streaming youth culture news brand. Its content mix will comprise 30% news and 70% non-news content, with the latter focused on youth lifestyles, interests and culture. The strategy reflects Zee Media's broader effort to connect with younger audiences across digital platforms rather than relying solely on traditional television consumption.<h2>Watch the full interview here</h2>

<h2>Quarterly performance shows improvement</h2>Zee Media Corporation reported a significant sequential improvement in its quarterly performance. Revenue increased around 20% QoQ to ₹191 crore, while EBITDA moved from a loss of ₹11 crore to a profit of ₹16 crore. EBITDA margins stood at around 8.5%, while losses narrowed from ₹26 crore to ₹12 crore. Das said, "QoQ revenue grew by 21% and EBITDA grew by 74%." He attributed the improvement primarily to two factors: transformation of the company's news ecosystem and diversification of revenue.<h2>Omni-channel strategy driving transformation</h2>Explaining the company's transformation, Das said, “We have adopted an omni-channel news brand strategy. Whether viewers are on a TV screen, mobile screen, or any other medium, we want to remain relevant at every touchpoint. This transformation is being driven by technology adoption in the newsroom.” The company is increasingly looking at broadcast and digital as interconnected businesses rather than separate verticals.&nbsp;Also Read: <a href="https://www.wionews.com/india-news/india-prepares-for-the-networked-battlefield-iaf-s-big-push-for-information-superiority-1787053523761">India prepares for the networked battlefield: IAF’s big push for information superiority</a><h2>Revenue diversification beyond advertising</h2>Das also pointed to the company's efforts to reduce its dependence on conventional advertising. Instead of relying solely on traditional advertising, Zee Media is exploring branded content, events and international markets. The company is also looking at ARPU and subscription-led opportunities to monetise its large digital user base. The strategy is aimed at creating multiple revenue streams while making better use of Zee Media's existing content and audience ecosystem.<h2>What drove the 21% revenue growth?</h2>According to Das, the company is combining on-ground monetisation opportunities with digital and broadcast advertising. A key part of the strategy is understanding advertisers' specific business challenges and developing customised content and advertising solutions around those requirements. Additionally, the company has changed its approach to the market. Das added, "We're focusing on monetization for advertisers and will offer companies accordingly." The focus, therefore, is shifting from simply selling advertising inventory towards providing advertisers with solutions designed around their business objectives.<h2>Regional channels offer another monetisation opportunity</h2>Zee Media also sees significant potential in its regional network. Das said the company's regional presence can help it tap retail advertisers by integrating broadcast and digital offerings. The strategy is expected to provide advertisers with broader reach while allowing Zee Media to monetise audiences across multiple platforms.<h2>Digital and broadcast to work as one business</h2>On the company's digital strategy, Das said, “We need to stay connected with auditions across different touchpoints. Digital and broadcast are not separate businesses; they are an integrated business approach. The format of content varies depending on the platform.” The strategy involves adapting content according to the platform while keeping the underlying news brands connected across television, mobile and other digital touchpoints.<h2>AI and the 'digital brain' vision</h2>Technology is another major pillar of Zee Media's growth strategy. Das said the company is using AI to improve speed and efficiency in the newsroom. But the larger ambition goes beyond newsroom automation. "Our larger vision is to create a "Digital Brain" (intelligence warehouse) for the entire news ecosystem, leveraging an organization's past and present knowledge base to deliver accurate and better content." The proposed Digital Brain is intended to bring together the organisation's historical and current knowledge, helping newsrooms access information faster and potentially improve the accuracy and efficiency of content creation.<h2>Where will the fundraising proceeds be used?</h2>On the deployment of funds raised by the company, Das said that the proceeds are being primarily directed towards in-house technology development and content acquisition. The investment is therefore expected to support both sides of Zee Media's growth strategy, strengthening its technology infrastructure while expanding its content capabilities.<h2>Zee Media's growth outlook</h2>Das said the company has spent the last 8-9 months preparing the organisation for the next phase of growth.“For the past 8-9 months, we've been working to make our organization future-ready.” Going forward, the company plans to focus on sustainable and robust growth across Zee News, Zee Business, WION, Zee Bharat and its technology-enabled Digital Brain initiative.&nbsp;“Our primary focus going forward will be achieving sustainable and robust growth through Zee News, Zee Business, WION, Zee Bharat, and the technology-enabled digital brain.” The company remains focused on sustaining revenue growth while developing new ways to engage younger audiences.&nbsp;With WION's international expansion, Zee Bharat's youth-focused relaunch, potential subscription opportunities at Zee Business, greater regional monetisation and AI-led newsroom transformation, Zee Media is positioning its next growth phase around a combination of strong brands, digital expansion, technology and diversified monetisation.

Zee Media CEO Raktim Das discusses WION expansion, Zee Bharat relaunch, quarterly results, AI, Digital Brain, revenue growth and future strategy

Zee Media Corporation CEO Raktim Das has outlined an ambitious growth roadmap for the company, with WION's expansion, the relaunch of Zee Bharat, technology-led newsroom transformation and revenue diversification emerging as key priorities. In an exclusive conversation with Zee Business Managing Editor Anil Singhvi, Das discussed the company's quarterly performance, upcoming projects and its strategy for sustainable growth. WION expansion to remain a key growth focus Speaking about the company's flagship brands and future priorities, Das highlighted WION, India's global news channel, as an important part of Zee Media's next phase of expansion WION is celebrating its 10th anniversary, and according to Das, the channel is set to expand further across both domestic and international markets in the coming quarters. The company sees an opportunity to build WION's global presence while strengthening its reach in India. Alongside WION, Zee Media will continue to focus on its core brands, including Zee News and Zee Business. At Zee Business, the company is also evaluating subscription-led offerings and premium content as it looks to develop additional revenue streams. Zee Bharat gets a new avatar Another major focus area is the relaunch of Zee Bharat, which is being positioned as a youth-focused, digital-first news and culture platform. Das said the new Zee Bharat is a social-first, digital-native, 24/7 streaming youth culture news brand. Its content mix will comprise 30% news and 70% non-news content, with the latter focused on youth lifestyles, interests and culture. The strategy reflects Zee Media's broader effort to connect with younger audiences across digital platforms rather than relying solely on traditional television consumption. Watch the full interview here

Zee Media CEO Raktim Das outlines WION's global expansion, Zee Bharat's youth focus, AI-led transformation and a new growth strategy

‘WION set for global expansion’: Zee Media CEO Raktim Das on next growth chapter

Oil prices rose sharply on Monday (Aug 17) after US President Donald Trump ruled out extending an interim ceasefire arrangement with Iran, deepening uncertainty over the conflict and the future of shipping through the Strait of Hormuz.Brent crude, the international benchmark, settled at $90.87 a barrel, while U.S. West Texas Intermediate rose to $84.50. The gains reflected renewed concern that stalled diplomacy could prolong disruptions to global energy supplies.President Trump said Monday that he did not want to extend the memorandum of understanding reached with Iran in June. The agreement had been intended to create a path toward a broader settlement, but negotiations have struggled over several issues, including Iran’s nuclear program and control of the Strait of Hormuz.Iran has also hardened its position. A senior Iranian official warned that Tehran could shift toward a more offensive military posture if diplomatic efforts fail.Also read | <a href="https://www.wionews.com/world/uk-firm-joins-rescue-race-as-oil-spill-from-russian-shadow-fleet-tanker-spreads-along-oman-s-coast-1786690658895">'Extremely challenging situation': UK firm joins rescue race as oil spill from Russian shadow fleet tanker spreads along Oman's coast</a><h2>Why Hormuz matters</h2>The Strait of Hormuz remains the most important factor for oil markets. Before the conflict, around one-fifth of global oil supplies passed through the narrow waterway connecting the Persian Gulf to international markets.Traffic remains heavily disrupted. Only five commodity vessels crossed the strait on Saturday, compared with 31 the previous weekend, while no crossings were recorded on Sunday, according to shipping data cited by Reuters.Even without a complete shutdown, reduced tanker traffic can increase shipping and insurance costs and restrict supplies from major Gulf producers.Also read | <a href="https://www.wionews.com/world/iran-s-alleged-nuclear-arsenal-no-longer-top-concern-for-us-vance-says-cheap-oil-is-priority-no-1-in-iran-war-nuclear-threat-goal-number-two-1786669765626">Iran's alleged nuclear arsenal no longer top concern for US? Vance says cheap oil is priority No. 1 in Iran war, nuclear threat 'goal number two'</a><h2>What’s next?</h2>The immediate focus will be on whether Washington and Tehran can maintain diplomatic contacts despite increasingly confrontational rhetoric.Sustained increases in crude prices can feed into gasoline and transportation costs, making the conflict increasingly relevant to American consumers.For oil markets, Hormuz will remain the key indicator.Any agreement that restores significant tanker traffic could quickly ease some of the geopolitical premium built into crude prices. Further attacks or a deeper disruption of the strait could push prices higher.For now, markets are pricing in a conflict with no clear diplomatic exit and an energy supply route that remains vulnerable to the next political or military move.&nbsp;

Brent crude, the international benchmark, settled at $90.87 a barrel, while U.S. West Texas Intermediate rose to $84.50. The gains reflected renewed concern that stalled diplomacy could prolong disruptions to global energy supplies.

Oil prices rose sharply on Monday (Aug 17) after US President Donald Trump ruled out extending an interim ceasefire arrangement with Iran, deepening uncertainty over the conflict and the future of shipping through the Strait of Hormuz. Brent crude, the international benchmark, settled at $90.87 a barrel, while U.S. West Texas Intermediate rose to $84.50. The gains reflected renewed concern that stalled diplomacy could prolong disruptions to global energy supplies. President Trump said Monday that he did not want to extend the memorandum of understanding reached with Iran in June. The agreement had been intended to create a path toward a broader settlement, but negotiations have struggled over several issues, including Iran’s nuclear program and control of the Strait of Hormuz. Iran has also hardened its position. A senior Iranian official warned that Tehran could shift toward a more offensive military posture if diplomatic efforts fail. Also read | 'Extremely challenging situation': UK firm joins rescue race as oil spill from Russian shadow fleet tanker spreads along Oman's coast Why Hormuz matters The Strait of Hormuz remains the most important factor for oil markets. Before the conflict, around one-fifth of global oil supplies passed through the narrow waterway connecting the Persian Gulf to international markets. Traffic remains heavily disrupted. Only five commodity vessels crossed the strait on Saturday, compared with 31 the previous weekend, while no crossings were recorded on Sunday, according to shipping data cited by Reuters. Even without a complete shutdown, reduced tanker traffic can increase shipping and insurance costs and restrict supplies from major Gulf producers. Also read | Iran's alleged nuclear arsenal no longer top concern for US? Vance says cheap oil is priority No. 1 in Iran war, nuclear threat 'goal number two' What’s next? The immediate focus will be on whether Washington and Tehran can maintain diplomatic contacts despite increasingly confrontational rhetoric. Sustained increases in crude prices can feed into gasoline and transportation costs, making the conflict increasingly relevant to American consumers. For oil markets, Hormuz will remain the key indicator. Any agreement that restores significant tanker traffic could quickly ease some of the geopolitical premium built into crude prices. Further attacks or a deeper disruption of the strait could push prices higher. For now, markets are pricing in a conflict with no clear diplomatic exit and an energy supply route that remains vulnerable to the next political or military move.

Brent crude, the international benchmark, settled at $90.87 a barrel, while U.S. West Texas Intermediate rose to $84.50. The gains reflected renewed concern that stalled diplomacy could prolong disruptions to global energy supplies.

Oil prices jump as Trump rules out extending Iran ceasefire. What comes next?

India’s recent move to boost domestic production of liquefied petroleum gas (LPG) is a step towards reducing dependence on imports of the critical cooking fuel. The maximum daily LPG production target has been set at 63,810 tonnes across state-run and private refineries, as well as upstream and gas-processing companies. This came after the Iran-US-Israel war and the Strait of Hormuz disruptions highlighted the fragility of India’s dependence on imported LPG. The government's plan is to maximise domestic LPG production so that India can cushion future supply shocks. Production targets will be reviewed in January and July.<h2>Ubiquitous, useful but unreliable? LPG is India’s main cooking fuel</h2>With more than 330 million active domestic connections, including over 100 million under the Pradhan Mantri Ujjwala Yojana (PMUY), India’s LPG consumption has grown over the past decade. Household users account for about 87 per cent of total LPG consumption, making stable LPG supplies critical for millions of Indian families. In FY 2025-26, India consumed around 33.2 million tonnes of LPG, which works out to around 91,000 tonnes per day.&nbsp;Domestic production was only about 13.1 million tonnes, or around 35,900-36,000 tonnes a day. This highlights India’s heavy import dependence: more than 64 per cent of the country’s requirements, or approximately 21.3 million tonnes, came from overseas sources.Clearly, LPG demand has grown faster than domestic production.&nbsp;Before the recent disruptions, up to &nbsp;92 per cent of India’s LPG imports came from the Middle East, mainly from the United Arab Emirates (UAE), which accounted for around 40-41 per cent, and Qatar, at about 22 per cent. Saudi Arabia and Kuwait each accounted for around 15 per cent.Also read: <a href="https://www.wionews.com/india-news/india-turns-to-russia-for-gas-could-it-cut-costs-or-trigger-us-sanctions-wion-decodes-1786179581651">India turns to Russia for gas: Could it cut costs or trigger US sanctions? WION Decodes</a><h2>A major push for domestic LPG production: But will it succeed?</h2>India’s domestic LPG production stood at around 36,000 tonnes a day. The new maximum production target of 63,810 tonnes a day is more than double that level. If fully achieved, it would equal roughly 70 per cent of current daily consumption and could dramatically narrow the supply gap during a crisis. However, the target is a maximum or potential framework that can be used to boost supplies during shortages or disruptions, and not a permanent daily production requirement.Actual output will depend on the technical and economic feasibility of increasing LPG recovery at individual facilities. LPG production at refineries will have to be balanced against the production of other products, such as petrol and petrochemicals.&nbsp;Adequate storage, evacuation facilities, rail connectivity and road tanker capacity will also be essential to ensure that additional LPG reaches consumers.In recent months, refiners have already demonstrated that domestic production could be raised from pre-war levels of around 36,000 tonnes a day to approximately 55,000 tonnes a day. The new ceiling of 63,810 tonnes provides additional headroom.It is not an overnight solution. Imports will still be needed to meet India’s full daily requirement for LPG.If domestic production increases, it could reduce the risk of long queues, delayed cylinder deliveries and localised shortages. Households may also be less likely to shift temporarily to alternatives such as biomass or kerosene.Domestic LPG production is useful only if the additional volumes can be stored, transported and distributed efficiently.<a href="https://www.wionews.com/videos/west-asia-resumed-lng-imports-prompts-india-to-lift-emergency-natural-gas-supply-curbs-1783234632203/embed">https://www.wionews.com/videos/west-asia-resumed-lng-imports-prompts-india-to-lift-emergency-natural-gas-supply-curbs-1783234632203/embed</a><h2>Who will help increase domestic LPG production?&nbsp;</h2>Reliance Industries has received the largest individual allocation under the framework. Its domestic-market-focused Jamnagar refinery has been assigned a maximum production target of 18,000 tonnes of LPG a day. Its export-oriented special economic zone unit is exempt from the allocation.Public-sector refineries collectively account for around 31,470 tonnes a day across 18 facilities.Upstream and gas-processing companies, including Oil and Natural Gas Corporation (ONGC), Oil India Limited (OIL) and GAIL (India) Limited, have been assigned a combined target of about 6,460 tonnes a day. These companies can contribute LPG recovered during natural gas processing and associated production.Other private refiners will contribute as well. Nayara Energy’s Vadinar refinery, for example, has an allocation of around 4,480 tonnes a day.Also read: <a href="https://www.wionews.com/india-news/from-fuel-security-to-grid-security-the-next-chapter-of-india-s-energy-transition-1784978960018">From fuel security to grid security: The next chapter of India's energy transition</a><h2>Can India reduce its Middle East dependence?</h2>Increasing domestic output can be only one part of the strategy.&nbsp;India is also diversifying its overseas suppliers to reduce its dependence on a single region. Sourcing LPG from the US and exploring supplies from countries such as Algeria, Norway and Oman can provide alternatives to traditional Gulf suppliers and reduce exposure to disruptions in the Middle East.Diversification can also broaden India’s pricing options. US LPG is linked to the Mont Belvieu benchmark, offering an alternative to the Gulf-linked pricing mechanisms that have traditionally influenced India’s import costs.<h2>Import dependence is likely to remain significant for years</h2>Even if the new maximum domestic production target is fully utilised, it would cover only around 70 per cent of present daily consumption. Demand is also continuing to grow, while additions to refining capacity do not necessarily translate into equivalent increases in LPG output.India is therefore not moving towards complete LPG import independence in the immediate future. Instead, the strategy is to reduce vulnerability by combining higher domestic production, stronger storage and transportation infrastructure, and a more geographically diversified import basket.For Indian households, the most immediate benefit could be greater protection against sudden supply shocks. The measures should make extreme shortages and prolonged delivery delays less likely during future disruptions, even as India continues to rely on imports to meet a substantial share of its LPG demand.

India’s 63,810-tonne LPG production target aims to strengthen domestic supplies, reduce import vulnerability and cushion households against Middle East and Strait of Hormuz disruptions. But is import dependence over?

India’s recent move to boost domestic production of liquefied petroleum gas (LPG) is a step towards reducing dependence on imports of the critical cooking fuel. The maximum daily LPG production target has been set at 63,810 tonnes across state-run and private refineries, as well as upstream and gas-processing companies. This came after the Iran-US-Israel war and the Strait of Hormuz disruptions highlighted the fragility of India’s dependence on imported LPG. The government's plan is to maximise domestic LPG production so that India can cushion future supply shocks. Production targets will be reviewed in January and July. Ubiquitous, useful but unreliable? LPG is India’s main cooking fuel With more than 330 million active domestic connections, including over 100 million under the Pradhan Mantri Ujjwala Yojana (PMUY), India’s LPG consumption has grown over the past decade. Household users account for about 87 per cent of total LPG consumption, making stable LPG supplies critical for millions of Indian families. In FY 2025-26, India consumed around 33.2 million tonnes of LPG, which works out to around 91,000 tonnes per day. Domestic production was only about 13.1 million tonnes, or around 35,900-36,000 tonnes a day. This highlights India’s heavy import dependence: more than 64 per cent of the country’s requirements, or approximately 21.3 million tonnes, came from overseas sources. Clearly, LPG demand has grown faster than domestic production. Before the recent disruptions, up to 92 per cent of India’s LPG imports came from the Middle East, mainly from the United Arab Emirates (UAE), which accounted for around 40-41 per cent, and Qatar, at about 22 per cent. Saudi Arabia and Kuwait each accounted for around 15 per cent. Also read: India turns to Russia for gas: Could it cut costs or trigger US sanctions? WION Decodes A major push for domestic LPG production: But will it succeed? India’s domestic LPG production stood at around 36,000 tonnes a day. The new maximum production target of 63,810 tonnes a day is more than double that level. If fully achieved, it would equal roughly 70 per cent of current daily consumption and could dramatically narrow the supply gap during a crisis. However, the target is a maximum or potential framework that can be used to boost supplies during shortages or disruptions, and not a permanent daily production requirement. Actual output will depend on the technical and economic feasibility of increasing LPG recovery at individual facilities. LPG production at refineries will have to be balanced against the production of other products, such as petrol and petrochemicals. Adequate storage, evacuation facilities, rail connectivity and road tanker capacity will also be essential to ensure that additional LPG reaches consumers. In recent months, refiners have already demonstrated that domestic production could be raised from pre-war levels of around 36,000 tonnes a day to approximately 55,000 tonnes a day. The new ceiling of 63,810 tonnes provides additional headroom. It is not an overnight solution. Imports will still be needed to meet India’s full daily requirement for LPG. If domestic production increases, it could reduce the risk of long queues, delayed cylinder deliveries and localised shortages. Households may also be less likely to shift temporarily to alternatives such as biomass or kerosene. Domestic LPG production is useful only if the additional volumes can be stored, transported and distributed efficiently. https://www.wionews.com/videos/west-asia-resumed-lng-imports-prompts-india-to-lift-emergency-natural-gas-supply-curbs-1783234632203/embed Who will help increase domestic LPG production? Reliance Industries has received the largest individual allocation under the framework. Its domestic-market-focused Jamnagar refinery has been assigned a maximum production target of 18,000 tonnes of LPG a day. Its export-oriented special economic zone unit is exempt from the allocation. Public-sector refineries collectively account for around 31,470 tonnes a day across 18 facilities. Upstream and gas-processing companies, including Oil and Natural Gas Corporation (ONGC), Oil India Limited (OIL) and GAIL (India) Limited, have been assigned a combined target of about 6,460 tonnes a day. These companies can contribute LPG recovered during natural gas processing and associated production. Other private refiners will contribute as well. Nayara Energy’s Vadinar refinery, for example, has an allocation of around 4,480 tonnes a day. Also read: From fuel security to grid security: The next chapter of India's energy transition Can India reduce its Middle East dependence? Increasing domestic output can be only one part of the strategy. India is also diversifying its overseas suppliers to reduce its dependence on a single region. Sourcing LPG from the US and exploring supplies from countries such as Algeria, Norway and Oman can provide alternatives to traditional Gulf suppliers and reduce exposure to disruptions in the Middle East. Diversification can also broaden India’s pricing options. US LPG is linked to the Mont Belvieu benchmark, offering an alternative to the Gulf-linked pricing mechanisms that have traditionally influenced India’s import costs. Import dependence is likely to remain significant for years Even if the new maximum domestic production target is fully utilised, it would cover only around 70 per cent of present daily consumption. Demand is also continuing to grow, while additions to refining capacity do not necessarily translate into equivalent increases in LPG output. India is therefore not moving towards complete LPG import independence in the immediate future. Instead, the strategy is to reduce vulnerability by combining higher domestic production, stronger storage and transportation infrastructure, and a more geographically diversified import basket. For Indian households, the most immediate benefit could be greater protection against sudden supply shocks. The measures should make extreme shortages and prolonged delivery delays less likely during future disruptions, even as India continues to rely on imports to meet a substantial share of its LPG demand.

India’s 63,810-tonne LPG production target aims to strengthen domestic supplies, reduce import vulnerability and cushion households against Middle East and Strait of Hormuz disruptions. But is import dependence over?

LPG domestic production mandates: Can it reduce India's dependence on volatile Middle East imports?

Brazil has formally opened a process under its Economic Reciprocity Law in response to US President Donald Trump's tariffs on Brazilian goods. President Luiz Inácio Lula da Silva said Brazil invoked the law to show that the country “respects itself” and will defend its interests. Brazil’s Foreign Ministry has notified Washington and requested diplomatic consultations. The process gives both sides time to negotiate measures that could reduce or eliminate the impact of the US tariffs.<h2>Trump tariffs: What could Brazil do?</h2>The reciprocity process does not automatically trigger matching tariffs. Brazilian authorities will first assess the impact on domestic industries and examine possible responses through the government’s foreign trade chamber, CAMEX. Public consultations form part of the process.Brazil’s Reciprocity Law allows proportional measures when foreign actions harm Brazilian competitiveness. Possible responses include tariffs on US goods, restrictions on services or imports, suspension of trade concessions and measures affecting intellectual property.Brazil has previously examined options involving US audiovisual companies and pharmaceutical patents.Officials are cautious about moving too quickly. Retaliatory measures could disrupt Brazilian supply chains, increase costs and add to domestic inflation.The government is therefore using the mechanism as both a potential defensive tool and negotiating leverage. Brazil also plans to challenge the US measures through the World Trade Organization and has offered support, including credit lines, to sectors hit by the tariffs.Also read: <a href="https://www.wionews.com/world/trump-administration-refunds-100-billion-in-tariffs-after-supreme-court-ruling-1785977857498">Trump administration refunds $100 billion in tariffs after Supreme Court ruling</a><h2>Lula open to direct talks with Trump</h2>Lula has warned Washington against interfering in Brazil’s domestic affairs and the October 2026 presidential election, while saying he is open to direct talks with Trump.Lula is seeking re-election against Senator Flávio Bolsonaro, the son of former president Jair Bolsonaro and a prominent Trump ally.<a href="https://www.wionews.com/videos/lula-pushes-for-powerful-brazilian-military-ahead-of-election-visits-aerospace-facility-1784975206917/embed">https://www.wionews.com/videos/lula-pushes-for-powerful-brazilian-military-ahead-of-election-visits-aerospace-facility-1784975206917/embed</a><h2>Why did Trump impose the tariffs?</h2>The latest dispute escalated in July 2026, when the US imposed a 25 per cent tariff on many Brazilian products under Section 301 of the US Trade Act. The US Trade Representative cited what it called unreasonable or discriminatory Brazilian practices involving digital trade and electronic payments, including the PIX system, preferential tariffs, intellectual-property protection, ethanol market access, anti-corruption measures and illegal deforestation. The tariffs took effect around July 22.Major Brazilian exports have been exempted, including coffee, beef, oranges and orange juice, some energy products, fertiliser and aerospace products and aircraft parts.<h2>The 25 per cent measure affects roughly 18 per cent of Brazil’s exports to the US</h2>The tariffs could hit goods worth about $7.4 billion based on recent trade data. A separate 12.5 per cent tariff linked to alleged weak enforcement of forced-labour restrictions can apply to Brazilian products in some categories. Where the two measures overlap, duties can reach 37.5 per cent, affecting products such as certain sugar, apparel, paper and steel.Also read: <a href="https://www.wionews.com/world/brazil-denies-visas-to-us-officials-amid-fears-of-meddling-in-upcoming-presidential-election-1785042280555">Brazil denies visas to US officials amid fears of meddling in upcoming presidential election</a><h2>US-Brazil trade dispute becomes a political fight</h2>Brazil has called the US tariffs “unjustified and arbitrary” and pointed to the US goods trade surplus with Brazil. It said many US products already enter Brazil duty-free, while Brazil maintains a relatively low average applied tariff on US imports.Trump had previously threatened or announced tariffs of up to 50 per cent on some Brazilian goods, with some measures linked to US concerns over legal proceedings involving Jair Bolsonaro.Brazil’s Reciprocity Law was enacted in 2025 partly in response to such unilateral trade actions. It permits proportional countermeasures when foreign policies damage Brazil’s competitiveness.Visa disputes involving Brazilian and US diplomats have added to tensions. The two nations also fought over ambassadorial appointments and diplomatic access.&nbsp;

Brazil has opened a reciprocity process against US tariffs as President Lula seeks negotiations with Trump. Brazil is assessing retaliation while tensions grow over trade and the 2026 Brazil presidential election.

Brazil has formally opened a process under its Economic Reciprocity Law in response to US President Donald Trump's tariffs on Brazilian goods. President Luiz Inácio Lula da Silva said Brazil invoked the law to show that the country “respects itself” and will defend its interests. Brazil’s Foreign Ministry has notified Washington and requested diplomatic consultations. The process gives both sides time to negotiate measures that could reduce or eliminate the impact of the US tariffs. Trump tariffs: What could Brazil do? The reciprocity process does not automatically trigger matching tariffs. Brazilian authorities will first assess the impact on domestic industries and examine possible responses through the government’s foreign trade chamber, CAMEX. Public consultations form part of the process. Brazil’s Reciprocity Law allows proportional measures when foreign actions harm Brazilian competitiveness. Possible responses include tariffs on US goods, restrictions on services or imports, suspension of trade concessions and measures affecting intellectual property. Brazil has previously examined options involving US audiovisual companies and pharmaceutical patents. Officials are cautious about moving too quickly. Retaliatory measures could disrupt Brazilian supply chains, increase costs and add to domestic inflation. The government is therefore using the mechanism as both a potential defensive tool and negotiating leverage. Brazil also plans to challenge the US measures through the World Trade Organization and has offered support, including credit lines, to sectors hit by the tariffs. Also read: Trump administration refunds $100 billion in tariffs after Supreme Court ruling Lula open to direct talks with Trump Lula has warned Washington against interfering in Brazil’s domestic affairs and the October 2026 presidential election, while saying he is open to direct talks with Trump. Lula is seeking re-election against Senator Flávio Bolsonaro, the son of former president Jair Bolsonaro and a prominent Trump ally. https://www.wionews.com/videos/lula-pushes-for-powerful-brazilian-military-ahead-of-election-visits-aerospace-facility-1784975206917/embed Why did Trump impose the tariffs? The latest dispute escalated in July 2026, when the US imposed a 25 per cent tariff on many Brazilian products under Section 301 of the US Trade Act. The US Trade Representative cited what it called unreasonable or discriminatory Brazilian practices involving digital trade and electronic payments, including the PIX system, preferential tariffs, intellectual-property protection, ethanol market access, anti-corruption measures and illegal deforestation. The tariffs took effect around July 22. Major Brazilian exports have been exempted, including coffee, beef, oranges and orange juice, some energy products, fertiliser and aerospace products and aircraft parts. The 25 per cent measure affects roughly 18 per cent of Brazil’s exports to the US The tariffs could hit goods worth about $7.4 billion based on recent trade data. A separate 12.5 per cent tariff linked to alleged weak enforcement of forced-labour restrictions can apply to Brazilian products in some categories. Where the two measures overlap, duties can reach 37.5 per cent, affecting products such as certain sugar, apparel, paper and steel. Also read: Brazil denies visas to US officials amid fears of meddling in upcoming presidential election US-Brazil trade dispute becomes a political fight Brazil has called the US tariffs “unjustified and arbitrary” and pointed to the US goods trade surplus with Brazil. It said many US products already enter Brazil duty-free, while Brazil maintains a relatively low average applied tariff on US imports. Trump had previously threatened or announced tariffs of up to 50 per cent on some Brazilian goods, with some measures linked to US concerns over legal proceedings involving Jair Bolsonaro. Brazil’s Reciprocity Law was enacted in 2025 partly in response to such unilateral trade actions. It permits proportional countermeasures when foreign policies damage Brazil’s competitiveness. Visa disputes involving Brazilian and US diplomats have added to tensions. The two nations also fought over ambassadorial appointments and diplomatic access.

Brazil has opened a reciprocity process against US tariffs as President Lula seeks negotiations with Trump. Brazil is assessing retaliation while tensions grow over trade and the 2026 Brazil presidential election.

Trump tariffs: Lula activates Brazil’s reciprocity law while stopping short of immediate countermeasures

Wall Street climbed to a fresh record on Thursday as cooler-than-expected wholesale inflation eased concerns over another Federal Reserve interest rate hike, giving investors renewed confidence in U.S. markets.The S&amp;P 500 rose 0.65 per cent to close at a record 7,798.99, while the technology-heavy Nasdaq Composite gained 0.81 per cent. The Dow Jones Industrial Average edged 0.13 per cent higher. The S&amp;P 500 has gained roughly 14 per cent so far this year, according to Reuters.Also read | <a href="https://www.wionews.com/world/who-bears-responsibility-iran-wants-polluter-pays-rule-for-strait-of-hormuz-as-oil-slick-plagues-qeshm-1786582552036">'Who bears responsibility?': Iran wants 'polluter pays' rule for Strait of Hormuz as oil slick plagues Qeshm</a>The rally followed fresh data showing that inflationary pressures at the producer level were softer than economists had expected.According to the U.S. Bureau of Labor Statistics, the Producer Price Index, or PPI, was unchanged in July after falling a revised 0.1% in June.On an annual basis, producer prices rose 4.7 per cent, slowing from a 5.5 per cent increase in June. Prices for goods fell 0.7 per cent during July, while services prices increased 0.2 per cent.The PPI measures the prices that producers receive for goods and services and is closely watched for signs of inflation that could eventually be passed on to American consumers.Also read | <a href="https://www.wionews.com/world/new-eia-report-warns-strait-of-hormuz-disruptions-could-keep-pressure-on-global-oil-markets-1786594753362">EIA warns Strait of Hormuz disruptions could keep pressure on global oil markets</a>Also, according to the Bureau of Labor Statistics, consumer prices increased 3.4 per cent in the 12 months through July.Together, the reports have reduced expectations that the Federal Reserve will raise interest rates at its September meeting.Traders now see around a 35 per cent chance of a September rate hike, down from about 55 per cent a week earlier, according to Reuters. The Fed held its benchmark interest rate at a range of 3.50 per cent to 3.75 per cent at its July meeting.However, uncertainty remains over whether inflation is cooling quickly enough to bring it sustainably back toward the Fed’s 2 per cent target.For Wall Street, Thursday’s data provided some relief. Softer producer inflation reduced the immediate pressure on the Fed to raise rates, while optimism surrounding technology and artificial intelligence stocks helped propel the broader market to another record.&nbsp;

Wall Street hit fresh records as softer US producer inflation eased concerns over a September Fed rate hike and boosted investor confidence.

Wall Street climbed to a fresh record on Thursday as cooler-than-expected wholesale inflation eased concerns over another Federal Reserve interest rate hike, giving investors renewed confidence in U.S. markets. The S&P 500 rose 0.65 per cent to close at a record 7,798.99, while the technology-heavy Nasdaq Composite gained 0.81 per cent. The Dow Jones Industrial Average edged 0.13 per cent higher. The S&P 500 has gained roughly 14 per cent so far this year, according to Reuters. Also read | 'Who bears responsibility?': Iran wants 'polluter pays' rule for Strait of Hormuz as oil slick plagues Qeshm The rally followed fresh data showing that inflationary pressures at the producer level were softer than economists had expected. According to the U.S. Bureau of Labor Statistics, the Producer Price Index, or PPI, was unchanged in July after falling a revised 0.1% in June. On an annual basis, producer prices rose 4.7 per cent, slowing from a 5.5 per cent increase in June. Prices for goods fell 0.7 per cent during July, while services prices increased 0.2 per cent. The PPI measures the prices that producers receive for goods and services and is closely watched for signs of inflation that could eventually be passed on to American consumers. Also read | EIA warns Strait of Hormuz disruptions could keep pressure on global oil markets Also, according to the Bureau of Labor Statistics, consumer prices increased 3.4 per cent in the 12 months through July. Together, the reports have reduced expectations that the Federal Reserve will raise interest rates at its September meeting. Traders now see around a 35 per cent chance of a September rate hike, down from about 55 per cent a week earlier, according to Reuters. The Fed held its benchmark interest rate at a range of 3.50 per cent to 3.75 per cent at its July meeting. However, uncertainty remains over whether inflation is cooling quickly enough to bring it sustainably back toward the Fed’s 2 per cent target. For Wall Street, Thursday’s data provided some relief. Softer producer inflation reduced the immediate pressure on the Fed to raise rates, while optimism surrounding technology and artificial intelligence stocks helped propel the broader market to another record.

Wall Street hit fresh records as softer US producer inflation eased concerns over a September Fed rate hike and boosted investor confidence.

Wall Street hits record high as cooling US inflation reshapes Fed rate outlook

N Chandrasekaran has stepped down as chairman of Tata Sons. He ended his nearly decade-long tenure at the helm of the Tata Group, informing the Tata Sons board of his decision on Wednesday (August 12) and stating that he would not seek an extension when his current term ends in February 2027.&nbsp;Chandrasekaran took over as executive chairman of Tata Sons on February 21, 2017, following three decades at Tata Consultancy Services, where he had served as chief executive and managing director since 2009. Later, he was reappointed for a second five-year term in 2022. During his tenure, the Tata Group made some of its most significant strategic moves, including the acquisition of Air India and its expansion into semiconductors, electronics, electric vehicles, batteries, and digital businesses. Chandrasekaran explained that his decision was prompted by the absence of unanimous support for extending his term by another five years. According to his statement, both the Sir Dorabji Tata Trust and Sir Ratan Tata Trust had unanimously agreed to recommend extending his tenure for five years. The recommendation was also noted by the Tata Sons Nomination and Remuneration Committee and the board. The proposal was presented to the Tata Sons board on February 24, 2026, but did not go through, as one board member opposed the extension, Chandrasekaran said. Given the lack of unanimous backing, he decided to defer the matter. He added that although six months had passed since that board meeting, the issue remained unresolved.&nbsp;Also read: <a href="https://www.wionews.com/trending/new-dating-scam-x-user-claim-tinder-bumble-matches-in-bengaluru-targeted-with-cab-payment-fraud-1786603370312">New dating scam? X user claims Tinder, Bumble matches in Bengaluru targeted with cab-payment fraud</a><h3>N Chandrasekaran earning as Tata Sons chairman</h3>Tata Sons' FY26 annual report indicates that N Chandrasekaran has received Rs 158.66 crore in total remuneration, up from Rs 155.81 crore in FY25. The data shows that this remuneration was his highest annual since Tata Sons started disclosing executive compensation in FY22. His remuneration for FY26 included Rs 17.97 crore in salary and other benefits, along with Rs 140.69 crore in profit-linked commission, with the commission making up nearly 89 per cent of his total earnings. Across the five financial years from FY22 to FY26, Chandrasekaran's cumulative remuneration from Tata Sons stood at Rs 671.4 crore, based on the company's disclosed annual figures. Throughout his tenure, he has ranked among India's highest-paid corporate executives, with his pay reflecting the profit-linked structure of his compensation at Tata Sons.<h3>N Chandrasekaran's journey to chairman</h3>Chandrasekaran was born in 1963 in the Namakkal district of Tamil Nadu. He began his journey with the Tata Group as an intern at TCS in 1987, later he rose through the ranks to become CEO and then led TCS to global prominence before taking over Tata Sons in 2017. Under his leadership, the Tata Group expanded into aviation, semiconductors, electric vehicles, and manufacturing, while also significantly strengthening its financial standing. Tata Sons' net worth grew from Rs 45,586 crore in FY20 to approximately Rs 1.49 lakh crore in FY25. As his tenure draws to a close, Chandrasekaran leaves behind a legacy marked by major corporate expansion and robust financial growth, even though his own personal net worth remains undisclosed. &nbsp;

During his tenure, the Tata Group made some of its most significant strategic moves, including the acquisition of Air India and its expansion into semiconductors, electronics, electric vehicles, batteries, and digital businesses.

N Chandrasekaran has stepped down as chairman of Tata Sons. He ended his nearly decade-long tenure at the helm of the Tata Group, informing the Tata Sons board of his decision on Wednesday (August 12) and stating that he would not seek an extension when his current term ends in February 2027. Chandrasekaran took over as executive chairman of Tata Sons on February 21, 2017, following three decades at Tata Consultancy Services, where he had served as chief executive and managing director since 2009. Later, he was reappointed for a second five-year term in 2022. During his tenure, the Tata Group made some of its most significant strategic moves, including the acquisition of Air India and its expansion into semiconductors, electronics, electric vehicles, batteries, and digital businesses. Chandrasekaran explained that his decision was prompted by the absence of unanimous support for extending his term by another five years. According to his statement, both the Sir Dorabji Tata Trust and Sir Ratan Tata Trust had unanimously agreed to recommend extending his tenure for five years. The recommendation was also noted by the Tata Sons Nomination and Remuneration Committee and the board. The proposal was presented to the Tata Sons board on February 24, 2026, but did not go through, as one board member opposed the extension, Chandrasekaran said. Given the lack of unanimous backing, he decided to defer the matter. He added that although six months had passed since that board meeting, the issue remained unresolved. Also read: New dating scam? X user claims Tinder, Bumble matches in Bengaluru targeted with cab-payment fraud N Chandrasekaran earning as Tata Sons chairman Tata Sons' FY26 annual report indicates that N Chandrasekaran has received Rs 158.66 crore in total remuneration, up from Rs 155.81 crore in FY25. The data shows that this remuneration was his highest annual since Tata Sons started disclosing executive compensation in FY22. His remuneration for FY26 included Rs 17.97 crore in salary and other benefits, along with Rs 140.69 crore in profit-linked commission, with the commission making up nearly 89 per cent of his total earnings. Across the five financial years from FY22 to FY26, Chandrasekaran's cumulative remuneration from Tata Sons stood at Rs 671.4 crore, based on the company's disclosed annual figures. Throughout his tenure, he has ranked among India's highest-paid corporate executives, with his pay reflecting the profit-linked structure of his compensation at Tata Sons. N Chandrasekaran's journey to chairman Chandrasekaran was born in 1963 in the Namakkal district of Tamil Nadu. He began his journey with the Tata Group as an intern at TCS in 1987, later he rose through the ranks to become CEO and then led TCS to global prominence before taking over Tata Sons in 2017. Under his leadership, the Tata Group expanded into aviation, semiconductors, electric vehicles, and manufacturing, while also significantly strengthening its financial standing. Tata Sons' net worth grew from Rs 45,586 crore in FY20 to approximately Rs 1.49 lakh crore in FY25. As his tenure draws to a close, Chandrasekaran leaves behind a legacy marked by major corporate expansion and robust financial growth, even though his own personal net worth remains undisclosed.

During his tenure, the Tata Group made some of its most significant strategic moves, including the acquisition of Air India and its expansion into semiconductors, electronics, electric vehicles, batteries, and digital businesses.

Tata Sons Chairman N Chandrasekaran announces exit: Know his net worth and salary

A new U.S. government energy report is putting renewed focus on the Strait of Hormuz, as shipping through one of the world’s most important energy corridors remains constrained and uncertainty continues over how quickly oil flows will return to normal. The U.S. Energy Information Administration, or EIA, said in its latest Short-Term Energy Outlook that it expects severe constraints on shipping through the Strait of Hormuz to persist through August, before traffic gradually increases beginning in September. The agency said reduced shipments through the waterway are expected to further draw down global oil inventories in the coming months.Also read | <a href="https://www.wionews.com/world/who-bears-responsibility-iran-wants-polluter-pays-rule-for-strait-of-hormuz-as-oil-slick-plagues-qeshm-1786582552036">'Who bears responsibility?': Iran wants 'polluter pays' rule for Strait of Hormuz as oil slick plagues Qeshm</a> The assessment comes as President Donald Trump has said the United States has “total control” of the Strait, while administration officials have pointed to improvements in the movement of oil from the region. The administration has also disputed some estimates of how limited current shipping traffic remains. The EIA report, however, focuses primarily on the economic consequences of the disruption and the expected pace of recovery rather than the question of who controls the waterway. The agency now forecasts Brent crude oil to average around $85 per barrel during the third quarter of 2026, $11 per barrel higher than it projected just one month ago. The EIA expects prices to ease to around $78 per barrel in the fourth quarter as shipping increases and more oil production comes back online.Also read | <a href="https://www.wionews.com/world/us-sanctions-iran-s-crypto-network-after-strait-of-hormuz-attacks-offers-15m-bounty-for-intel-on-irgc-finance-1786150050092">US sanctions Iran’s crypto network after Strait of Hormuz attacks, offers $15m bounty for intel on IRGC finance</a> For the full year, the EIA forecasts Brent crude at an average of approximately $87 per barrel in 2026. It expects prices to decline further in 2027, averaging around $69 per barrel as inventories rebuild and supplies recover. The Strait of Hormuz is particularly important because it connects the Persian Gulf with the Gulf of Oman and the Arabian Sea, providing a crucial export route for major Middle Eastern energy producers. Disruptions there can therefore have consequences well beyond the region, affecting global oil supplies, shipping costs, and ultimately prices paid by consumers. The latest EIA outlook also suggests that some effects of the conflict could persist even after shipping conditions improve. Around 5.5 million barrels per day of Middle Eastern oil production was offline in July, equivalent to more than 5% of global oil consumption. Although much of that production is expected to return, the EIA forecasts that approximately 600,000 barrels per day could remain offline through the end of 2027 as some producers face difficulties restoring output to pre-conflict levels. The outlook represents another shift in expectations for an oil market that has changed rapidly as conditions around Hormuz have evolved. In July, the EIA had expected Brent to average about $74 per barrel during the third quarter. Its new forecast of roughly $85 illustrates how continued restrictions through the Strait have altered the supply picture. The central question now is how quickly normal commercial traffic can resume. The EIA expects conditions to begin improving in September, but its latest forecast makes clear that the economic consequences of the disruption could continue long after more ships begin moving through the Strait.&nbsp;

The agency now forecasts Brent crude oil to average around $85 per barrel during the third quarter of 2026, $11 per barrel higher than it projected just one month ago. The EIA expects prices to ease to around $78 per barrel in the fourth quarter as shipping increases.

A new U.S. government energy report is putting renewed focus on the Strait of Hormuz, as shipping through one of the world’s most important energy corridors remains constrained and uncertainty continues over how quickly oil flows will return to normal. The U.S. Energy Information Administration, or EIA, said in its latest Short-Term Energy Outlook that it expects severe constraints on shipping through the Strait of Hormuz to persist through August, before traffic gradually increases beginning in September. The agency said reduced shipments through the waterway are expected to further draw down global oil inventories in the coming months. Also read | 'Who bears responsibility?': Iran wants 'polluter pays' rule for Strait of Hormuz as oil slick plagues Qeshm The assessment comes as President Donald Trump has said the United States has “total control” of the Strait, while administration officials have pointed to improvements in the movement of oil from the region. The administration has also disputed some estimates of how limited current shipping traffic remains. The EIA report, however, focuses primarily on the economic consequences of the disruption and the expected pace of recovery rather than the question of who controls the waterway. The agency now forecasts Brent crude oil to average around $85 per barrel during the third quarter of 2026, $11 per barrel higher than it projected just one month ago. The EIA expects prices to ease to around $78 per barrel in the fourth quarter as shipping increases and more oil production comes back online. Also read | US sanctions Iran’s crypto network after Strait of Hormuz attacks, offers $15m bounty for intel on IRGC finance For the full year, the EIA forecasts Brent crude at an average of approximately $87 per barrel in 2026. It expects prices to decline further in 2027, averaging around $69 per barrel as inventories rebuild and supplies recover. The Strait of Hormuz is particularly important because it connects the Persian Gulf with the Gulf of Oman and the Arabian Sea, providing a crucial export route for major Middle Eastern energy producers. Disruptions there can therefore have consequences well beyond the region, affecting global oil supplies, shipping costs, and ultimately prices paid by consumers. The latest EIA outlook also suggests that some effects of the conflict could persist even after shipping conditions improve. Around 5.5 million barrels per day of Middle Eastern oil production was offline in July, equivalent to more than 5% of global oil consumption. Although much of that production is expected to return, the EIA forecasts that approximately 600,000 barrels per day could remain offline through the end of 2027 as some producers face difficulties restoring output to pre-conflict levels. The outlook represents another shift in expectations for an oil market that has changed rapidly as conditions around Hormuz have evolved. In July, the EIA had expected Brent to average about $74 per barrel during the third quarter. Its new forecast of roughly $85 illustrates how continued restrictions through the Strait have altered the supply picture. The central question now is how quickly normal commercial traffic can resume. The EIA expects conditions to begin improving in September, but its latest forecast makes clear that the economic consequences of the disruption could continue long after more ships begin moving through the Strait.

The agency now forecasts Brent crude oil to average around $85 per barrel during the third quarter of 2026, $11 per barrel higher than it projected just one month ago. The EIA expects prices to ease to around $78 per barrel in the fourth quarter as shipping increases.

New EIA report warns Strait of Hormuz disruptions could keep pressure on global oil markets

Tata Sons Chairman N Chandrasekaran has stepped down from the post on Wednesday (Aug 12). His current tenure ends in nearly six months on February 20, 2027. Chandrasekaran has decided to not offer himself for reappointment and his decision was announced ahead of the conglomerate's annual general meeting (AGM) scheduled for August 18. The development comes months after Tata Sons delayed a decision on his reappointment amid differences with Tata Trusts chairman Noel Tata over the group's future governance. The latest announcement by Chandrasekaran likely comes after a proposal for his re-appointment failed to pass because one board member withheld support. Chandrasekaran has spent 40 years with the Tata Group and has served as chairman of Tata Sons for the past decade.&nbsp;&nbsp;Also Read: <a href="https://www.wionews.com/india-news/ratan-tata-once-said-he-wanted-to-be-remembered-as-his-words-have-now-gone-viral-766197">Ratan Tata once said he wanted 'to be remembered as...' His words have now gone viral</a><h2>What N Chandrasekaran said in his resignation letter?</h2>In a letter explaining the move to resign, N Chandrasekaran said that Sir Dorabji Tata Trust and Sir Ratan Tata Trust had recommended the extension of his tenure, but the proposal was vetoed by one of the board members, stalling his extension. "My current tenure as the Chairman of Tata Sons comes to an end on Feb 20, 2027. Sir Dorabji Tata Trust and Sir Ratan Tata Trust had unanimously resolved and recommended the extension of my next term for a period of five years, which was recorded and recommended by the Tata Sons Nomination and Remuneration Committee and the Board. Subsequently, the resolution was tabled in the Tata Sons Board on Feb 24, 2026. However, the proposal was not carried through because one of the Board Members did not support it, and in the absence of unanimous support, I chose to defer the decision. It has been 6 months since that Board meeting, and no resolution has been reached till date," he said.&nbsp;<figure class="image"><img src="https://pbs.twimg.com/media/HPgAL1-a4AAE8WN?format=png&amp;name=900x900" alt="Image"></figure>Also Read: <a href="https://www.wionews.com/india-news/who-is-noel-tata-the-likely-successor-of-the-tata-group-766231">Who is Noel Tata, the likely successor of Ratan Tata in the Tata Group?</a><h2>Share plummets&nbsp;</h2>Shares of Tata Group companies fell by as much as 4 per cent, after Chandrasekaran resigned. The decline was led by Tata Consultancy Services (TCS), the group's most valuable listed company. TCS shares dropped more than 4 per cent to Rs 2,322. Tata Motors Passenger Vehicles (TMPV) also declined 4 per cent, while Tata Consumer Products and Tata Power were each down about 2 per cent.<h2>Who will lead Tata Sons next?</h2>Chandrasekaran has requested the Tata Sons board to establish a succession plan soon to ensure a smooth transition. With Tata Trusts Chairman Noel Tata exercising stronger structural oversight, his three children - Neville Tata, Maya Tata and Leah Tata - have entered the spotlight as long-term leadership prospects.&nbsp;

N Chandrasekaran has stepped down as Tata Sons chairman and will not seek reappointment when his term ends in February 2027. He said his proposed five-year extension failed to secure unanimous board support. Chandrasekaran has led Tata Sons for nearly a decade.

Tata Sons Chairman N Chandrasekaran has stepped down from the post on Wednesday (Aug 12). His current tenure ends in nearly six months on February 20, 2027. Chandrasekaran has decided to not offer himself for reappointment and his decision was announced ahead of the conglomerate's annual general meeting (AGM) scheduled for August 18. The development comes months after Tata Sons delayed a decision on his reappointment amid differences with Tata Trusts chairman Noel Tata over the group's future governance. The latest announcement by Chandrasekaran likely comes after a proposal for his re-appointment failed to pass because one board member withheld support. Chandrasekaran has spent 40 years with the Tata Group and has served as chairman of Tata Sons for the past decade. Also Read: Ratan Tata once said he wanted 'to be remembered as...' His words have now gone viral What N Chandrasekaran said in his resignation letter? In a letter explaining the move to resign, N Chandrasekaran said that Sir Dorabji Tata Trust and Sir Ratan Tata Trust had recommended the extension of his tenure, but the proposal was vetoed by one of the board members, stalling his extension. "My current tenure as the Chairman of Tata Sons comes to an end on Feb 20, 2027. Sir Dorabji Tata Trust and Sir Ratan Tata Trust had unanimously resolved and recommended the extension of my next term for a period of five years, which was recorded and recommended by the Tata Sons Nomination and Remuneration Committee and the Board. Subsequently, the resolution was tabled in the Tata Sons Board on Feb 24, 2026. However, the proposal was not carried through because one of the Board Members did not support it, and in the absence of unanimous support, I chose to defer the decision. It has been 6 months since that Board meeting, and no resolution has been reached till date," he said. Also Read: Who is Noel Tata, the likely successor of Ratan Tata in the Tata Group? Share plummets Shares of Tata Group companies fell by as much as 4 per cent, after Chandrasekaran resigned. The decline was led by Tata Consultancy Services (TCS), the group's most valuable listed company. TCS shares dropped more than 4 per cent to Rs 2,322. Tata Motors Passenger Vehicles (TMPV) also declined 4 per cent, while Tata Consumer Products and Tata Power were each down about 2 per cent. Who will lead Tata Sons next? Chandrasekaran has requested the Tata Sons board to establish a succession plan soon to ensure a smooth transition. With Tata Trusts Chairman Noel Tata exercising stronger structural oversight, his three children - Neville Tata, Maya Tata and Leah Tata - have entered the spotlight as long-term leadership prospects.

N Chandrasekaran has stepped down as Tata Sons chairman and will not seek reappointment when his term ends in February 2027. He said his proposed five-year extension failed to secure unanimous board support. Chandrasekaran has led Tata Sons for nearly a decade.

N Chandrasekaran steps down as Tata Sons chairman, stocks tumble: Who will lead now

Brent crude futures and US crude futures both rose about 5 per cent on Monday as hope for a potential deal to open the Strait of Hormuz faltered. Oil prices briefly soared to $90 per barrel earlier Tuesday, hitting an intraday high of $90.02. Prices have since pared gains slightly to fluctuate between $87 and $89. Similarly, spot gold hit a two-month high earlier today, climbing above $4,400 an ounce for the first time since early June. The precious metal touched an intraday peak of $4,434.84 per ounce before paring some gains to trade in the $4,380 to $4,390 range.&nbsp;Iran has issued six strict preconditions for reopening the Strait of Hormuz. They want Washington to completely "correct its behaviour", no hostile language, absolute cessation of US and allied military aggression, Iran and its regional network across Lebanon, Palestine, Yemen, and Iraq; lifting of blockade and troop withdrawl, war reparation, removal of all "cruel and illegal" economic and political sanctions and asset release.US President Donald Trump responded to Iran's new demands of the reopening of the Strait of Hormuz, seeking compensation for the damages to US army and bases done by Iran.Also Read: <a href="https://www.wionews.com/india-news/tamil-nadu-assembly-anti-neet-resolution-centre-abolish-exam-1786446372416">NEET is against 'social justice, equality, and rights of states': Tamil Nadu Assembly passes anti-NEET resolution</a>“We’re going to ask for money for the damage they’ve done over a 50-year period. So if there’s damages to be paid, I think Iran should pay those damages,” said Trump.&nbsp;"So if there's damages to be paid, I think Iran should pay those damages,” and that “Also, with respect to the Iran negotiations, Iran should be responsible for the damages and death caused to the people of Lebanon, Syria, Yemen, and Gaza!”The opening price of gold futures on Tuesday, August 11, 2026, was 0.6 per cent higher than Monday's opening price. This indicates that the precious metal is returning to its status of safe haven following a weak US labour report showing an unexpected loss of 23,000 jobs in July. The upcoming consumer price data due ​on Wednesday and producer price data on Thursday will provide further clues on the Fed's policy ​outlook. According to the CME FedWatch Tool. FEDWATCH on Monday, traders are currently pricing a 48 per cent chance of an interest-rate hike in September. An interest rate hike will put downward pressure on Gold prices.

Brent and US crude futures rose about 5% as hopes of reopening the Strait of Hormuz faded, while gold climbed above $4,400 following a weak US labour report.

Brent crude futures and US crude futures both rose about 5 per cent on Monday as hope for a potential deal to open the Strait of Hormuz faltered. Oil prices briefly soared to $90 per barrel earlier Tuesday, hitting an intraday high of $90.02. Prices have since pared gains slightly to fluctuate between $87 and $89. Similarly, spot gold hit a two-month high earlier today, climbing above $4,400 an ounce for the first time since early June. The precious metal touched an intraday peak of $4,434.84 per ounce before paring some gains to trade in the $4,380 to $4,390 range. Iran has issued six strict preconditions for reopening the Strait of Hormuz. They want Washington to completely "correct its behaviour", no hostile language, absolute cessation of US and allied military aggression, Iran and its regional network across Lebanon, Palestine, Yemen, and Iraq; lifting of blockade and troop withdrawl, war reparation, removal of all "cruel and illegal" economic and political sanctions and asset release. US President Donald Trump responded to Iran's new demands of the reopening of the Strait of Hormuz, seeking compensation for the damages to US army and bases done by Iran. Also Read: NEET is against 'social justice, equality, and rights of states': Tamil Nadu Assembly passes anti-NEET resolution “We’re going to ask for money for the damage they’ve done over a 50-year period. So if there’s damages to be paid, I think Iran should pay those damages,” said Trump. "So if there's damages to be paid, I think Iran should pay those damages,” and that “Also, with respect to the Iran negotiations, Iran should be responsible for the damages and death caused to the people of Lebanon, Syria, Yemen, and Gaza!” The opening price of gold futures on Tuesday, August 11, 2026, was 0.6 per cent higher than Monday's opening price. This indicates that the precious metal is returning to its status of safe haven following a weak US labour report showing an unexpected loss of 23,000 jobs in July. The upcoming consumer price data due on Wednesday and producer price data on Thursday will provide further clues on the Fed's policy outlook. According to the CME FedWatch Tool. FEDWATCH on Monday, traders are currently pricing a 48 per cent chance of an interest-rate hike in September. An interest rate hike will put downward pressure on Gold prices.

Brent and US crude futures rose about 5% as hopes of reopening the Strait of Hormuz faded, while gold climbed above $4,400 following a weak US labour report.

Oil surges 5% as Iran-Hormuz deal falters; gold hits two-month high above $4,400

Mahindra Group has set up a new aersopace company called Novavayu Aerospace Limited to manufacture aircraft, advanced aerospace products, and systems. It was officially registered on July 30, under the Ministry of Corporate Affairs, with its headquarters in Mumbai. It has been incorporated with an initial authorised share capital of ₹1 crore. &nbsp;Novavayu is a wholly owned subsidiary of the Mahindra Defence Systems which is owned by Mahindra Technologies which is itself wholly owned by Mahindra &amp; Mahindra. The official regulatory filing specify that the company will cater to the defence aviation segment. Mahindra has said that Novavayu will design an aircraft independently, assemble one with overseas partner and manufacture parts and major structures for an existing partner.The group already has a footprint in the aersopace manufacturing. This development marks a massive strategic shift for Mahindra from a precision components supplier to a full-scale aerial platform manufacture. Mahindra Aerostructures operates a large manufacturing plant near Bengaluru and produces aircraft parts, sub-assemblies and larger structures for global aircraft manufacturers. Aerostructures are physical structures that form part of an aircraft.Its work includes contracts to manufacture the main fuselages of the Airbus H130 and H125 light helicopters. The first H130 cabin assembly is scheduled for delivery to Airbus in March 2027. The H125 fuselage programme is also targeted to begin deliveries in 2027.Mahindra has signed a strategic corporation agreement with Brazil’s Embraer in October 2025 for the C-390 Millennium military transport aircraft. The proposal is aimed at the Air Force's Medium Transport Aircraft programme, includes the possibility of local manufacturing, assembly, supply-chain development and maintenance support.

Mahindra Group has incorporated Novavayu Aerospace Limited to design and manufacture aircraft, aerospace products and defence aviation systems in India.

Mahindra Group has set up a new aersopace company called Novavayu Aerospace Limited to manufacture aircraft, advanced aerospace products, and systems. It was officially registered on July 30, under the Ministry of Corporate Affairs, with its headquarters in Mumbai. It has been incorporated with an initial authorised share capital of ₹1 crore. Novavayu is a wholly owned subsidiary of the Mahindra Defence Systems which is owned by Mahindra Technologies which is itself wholly owned by Mahindra & Mahindra. The official regulatory filing specify that the company will cater to the defence aviation segment. Mahindra has said that Novavayu will design an aircraft independently, assemble one with overseas partner and manufacture parts and major structures for an existing partner. The group already has a footprint in the aersopace manufacturing. This development marks a massive strategic shift for Mahindra from a precision components supplier to a full-scale aerial platform manufacture. Mahindra Aerostructures operates a large manufacturing plant near Bengaluru and produces aircraft parts, sub-assemblies and larger structures for global aircraft manufacturers. Aerostructures are physical structures that form part of an aircraft. Its work includes contracts to manufacture the main fuselages of the Airbus H130 and H125 light helicopters. The first H130 cabin assembly is scheduled for delivery to Airbus in March 2027. The H125 fuselage programme is also targeted to begin deliveries in 2027. Mahindra has signed a strategic corporation agreement with Brazil’s Embraer in October 2025 for the C-390 Millennium military transport aircraft. The proposal is aimed at the Air Force's Medium Transport Aircraft programme, includes the possibility of local manufacturing, assembly, supply-chain development and maintenance support.

Mahindra Group has incorporated Novavayu Aerospace Limited to design and manufacture aircraft, aerospace products and defence aviation systems in India.

Mahindra Group Sets Up Novavayu Aerospace for Aircraft Manufacturing