Odisha Police formed a Special Investigation Team (SIT) to investigate an illegal hashish oil trade operating from an island in Koraput district, following a major drug seizure and multiple arrests.
New capital exposure norms implemented by the Reserve Bank of India (RBI) from July 1 have led to a noticeable drop in trading volumes, with Multi-Commodity Exchange (MCX) options premium ADTV falling by nearly 40 per cent in early July.
Avocado wedges are fried like tempura and given a punchy, chaat-style dressing with yoghurt, chutney and spices.
Indian benchmark indices Sensex and Nifty experienced a sharp decline in early trading due to escalating tensions in the Middle East, driving crude oil prices higher. Global market bearishness and foreign fund outflows further contributed to investor unease.
An Indian crew member was killed after a US-owned oil tanker was attacked near Basra, Iraq. Fifteen other Indian crew members were evacuated.
'Neither do the Israelis. The two attacking parties have very little economic interest in Hormuz.'
Indian benchmark indices, Sensex and Nifty, closed sharply higher, with the Sensex climbing 1,695.40 points and the Nifty surging nearly 2 per cent, driven by a global market rally and a decline in crude oil prices following US President Donald Trump's declaration that his country has ended the war with Iran.
The Indian government has refuted reports suggesting a deal with Iran involving the release of seized oil tankers in exchange for safe passage of Indian vessels through the Strait of Hormuz.
Analysts predict India will face oil price volatility and macroeconomic effects due to the escalating Iran crisis, though the country's oil supply chain is not yet structurally insecure.
A recently finalised peace deal between the US and Iran, set to be signed on June 19, is expected to significantly benefit India's economy by boosting exports to West Asia, stabilising the rupee, and easing inflationary pressures, according to exporters and experts.
Replacing over a third of India's oil imports at competitive rates is going to be a challenge, said traders from State refiners, even though some progress was made in the last two months.
British armed forces, including Royal Marine Commandos, intercepted the Russian shadow fleet oil tanker SMYRTOS in the English Channel, marking the UK's first such operation. The action aims to disrupt Russia's funding for its war in Ukraine, with the UK government highlighting the shadow fleet's role in sustaining Moscow's military efforts.
The Food and Drug Administration (FDA) raided a factory in Jalna, Maharashtra, seizing over Rs 13 lakh worth of suspected adulterated ghee. The unit was allegedly manufacturing fake ghee using edible oil and synthetic essence. Samples have been sent for analysis, and legal action is pending.
The Ministry of External Affairs (MEA) has refuted reports suggesting a deal with Iran involving the release of seized vessels in exchange for safe passage of Indian ships through the Strait of Hormuz.
'India has initiated a bear market and we will still go lower. It has nothing to do with the economy.'
The US has warned India that any violation of its naval blockade in the Strait of Hormuz and illicit transport of Iranian oil will not be tolerated, a statement made amidst a diplomatic row over the deaths of Indian seafarers in US attacks on commercial vessels off the coast of Oman.
'No one can or will bar India from pursuing its energy goals as it wishes.' 'The US FTA wording may sound more restrictive, but the underlying reality will not undermine India's sovereign energy decisions.'
The rupee has been among the The RBI uses the Iran-US peace deal to bolster its forex reserves.
IT stocks had their worst first half fall in decades, with the Nifty IT index declining 31% in the January-June 2026 period, its biggest decline in the first six months of a calendar year since 2003.
US President Donald Trump has lauded a newly announced peace deal between the United States and Iran, predicting it will bring "peace and security" to West Asia and facilitate the reopening of the strategically vital Strait of Hormuz.
The Asian Development Bank (ADB) has revised down India's GDP growth forecast for fiscal year 2026-27 (FY27) to 6.6 per cent from an earlier 6.9 per cent, primarily attributing the change to elevated energy prices stemming from the Middle East conflict. Despite this moderation, India is still expected to remain the world's fastest-growing major economy.
Despite the Reserve Bank of India's (RBI) and the government's recent initiatives to attract foreign capital, which are expected to alleviate pressure on long-duration bonds, most debt fund managers are maintaining a cautious stance, favouring shorter-duration papers due to global uncertainties and potential future rate hikes.
India too can rise to the top if the 1.4 billion Indians back home are given better opportunities to use their innate talent and capacity to work hard, with right incentives in a more meritocratic rules-based system, asserts Ajay Chhibber.
Indian benchmark indices, Sensex and Nifty, experienced a significant drop of over 1 per cent, driven by a bearish trend in global markets, weakness in HDFC Bank and IT firms, and fresh foreign fund outflows.
The planned India-Japan annual summit, featuring Japanese PM Sanae Takaichi and Indian PM Narendra Modi, has been moved from Guwahati to New Delhi due to logistical issues and Takaichi's tight schedule. The summit, scheduled for July 1-3, aims to boost bilateral ties with discussions on investment, supply chain deals, energy resilience, and strategic oil reserves, accompanied by a delegation of 50 Japanese companies.
India is well-stocked with inventories of crude oil and key petroleum products, including petrol, diesel, and aviation turbine fuel (ATF), to deal with short-term disruptions as the war intensifies in West Asia, Union Minister of Petroleum and Natural Gas Hardeep Singh Puri said on Tuesday.
Legendary Indian goalkeeper Brahmananda Sankhwalkar reflects on the emotional FIFA World Cup exits of Cristiano Ronaldo and Neymar Junior. He discusses their unfulfilled World Cup dreams, their rivalry with Lionel Messi, and the circumstances of their respective team's eliminations, highlighting their enduring legacy despite the absence of a World Cup trophy.
Police in Odisha's Koraput district seized hashish oil worth approximately 225 crore from a forest manufacturing unit. Over 1,800 litres of hashish oil were recovered, and equipment was confiscated. In a separate operation, 1,143 kg of ganja worth 5 crore was seized, leading to four arrests.
The government on Thursday restored liquefied petroleum gas (LPG) supplies to commercial consumers such as hotels, restaurants and other businesses to pre-crisis levels, and lifted sector-specific restrictions imposed during the recent West Asia conflict, in a sign that energy supply concerns are easing as global markets stabilise.
US President Donald Trump and Pakistan Prime Minister Shehbaz Sharif have announced a landmark peace deal between the US and Iran, which includes the crucial reopening of the strategically important Strait of Hormuz and the immediate cessation of military operations in Lebanon.
The Congress has strongly criticised the US government's temporary waiver allowing India to purchase Russian oil, raising concerns about continued 'American blackmail' and its impact on India's energy policy.
External Affairs Minister S Jaishankar discussed the West Asia conflict and its impact on energy supplies with his Russian counterpart Sergey Lavrov and EU's Foreign Policy chief Kaja Kallas.
Private-sector oil refiner Reliance Industries Limited (RIL) last week received a general licence from the United States (US) government to buy Venezuelan oil, an industry executive said.
India's procurement of Venezuelan crude oil has picked up momentum since April and the South American nation has already emerged as the third largest oil supplier to the country.
India's wholesale price index (WPI) inflation surged to 9.68 per cent in May, up from 8.26 per cent in April, primarily due to significant increases in the prices of fuel and power, manufactured goods, and food items.
'Investors shouldn't let fear dictate their decisions. The most important step is simply to begin investing.'
Indian benchmark indices Sensex and Nifty rebounded in early trade, tracking a recovery in global equity markets and an easing of hostilities between Israel and Iran, after a sharp fall in the previous session.
The US Central Command (CENTCOM) confirmed striking the Guinea-Bissau-flagged oil tanker MT Jalveer, carrying 20 Indian seafarers, in the Gulf of Oman for allegedly violating the US blockade against Iran. This incident marks the third commercial vessel attacked by US forces in the region this week, with three Indian seafarers previously losing their lives in an attack on the MT Settebello.
Amidst escalating tensions with Iran, the US has granted India a temporary 30-day waiver to continue purchasing Russian oil, aiming to stabilise global energy markets and encourage future US oil imports by India.
Domestic cooking gas (LPG) prices have increased by Rs 29 per cylinder, marking the second hike in three months due to rising global energy costs. This follows broader fuel price increases for petrol, diesel, and CNG, with state-owned retailers still incurring significant losses despite the revisions.
