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Great Nicobar project is purely commercial with no military infrastructure element: Congress

Jairam Ramesh accused the Centre of pursuing what he termed a policy of “Continuing, Calibrated Capitulation to China”

Pakistan 'unreliable' mediator: Israeli envoy

Israeli Ambassador to India Reuven Azar has raised doubts over Pakistan's potential role as a regional mediator, warning India that the Middle East conflict serves as a "preview" of radical tactics that could soon impact its own neighbourhood.In an interview with PTI Videos, he rejected the notion that Pakistan possesses the credibility to act as a mediator in regional negotiations.Labelling the country unreliable, Azar characterized Pakistan as a "problematic player" whose involvement requires the US to exercise "special caution" to avoid potential traps."I don't think they are reliable," he said about Pakistan's mediation role.He added that when mediators lean towards a "terrorist entity" or "legitimize radicalism", it becomes "very tricky because the United States has to exercise special caution not to fall into traps set not only by the opposing side but also by the mediator".The envoy further alleged an increasing connection between radical elements and the region, noting a rise in visits by Hamas leaders to both Pakistan and Bangladesh over the last two years.Turning to the India angle, Azar claimed that because Israel is the most attacked country in the world, the threats it faces often serve as a "preview to a movie coming to a theatre in your neighbourhood".He specifically alleged that radical groups are drawing twisted inspiration from the October 7 attacks and warned that the methodologies of hybrid warfare, including using human shields and manipulating media, are likely to be emulated elsewhere.While commenting on Israel's policy of mandatory military service, Azar refrained from suggesting India adopt similar models.He observed that India is "blessed" with a large territory and population, expressing confidence that the Indian government is making the "right decisions" regarding its own recruitment and defence needs.He, however, noted the "positive aspect of conscription" in maturing young citizens and instilling a sense of responsibility."It doesn't mean that one size fits all. Each country has to find its own way." PTI SHJ ZMN

Nilesh Shah recommends 4 investment bets that should be part of your portfolio

As geopolitical headwinds make it tougher for equity investors to make money, Dalal Street’s top voice Nilesh Shah, managing director of Kotak Mahindra Asset Management, told a gathering of HNI investors at the ET Alpha Wealth Summit on Thursday that there are four specific investment structures which deserve a place in most portfolios right now.Shah’s first recommendation was the Special Investment Fund, or SIF, a structure that marks a meaningful shift in what is available to Indian investors. Shah noted that the mutual fund industry has, until now, been a long-only business but the SIF changes that. These are long-short, absolute return-oriented funds, designed to generate returns regardless of market direction rather than simply riding the equity tide.The second vehicle Shah flagged is performing credit AIFs. His reasoning was grounded in a simple supply-demand observation that for corporate settlements today, capital is not available from banks, mutual funds, or insurance companies.As institutional lenders have stepped back, borrowers are plenty and lenders very few. Amid this imbalance, Shah said the need is real and returns are attractive. Performing credit AIFs, which lend into this gap, are positioned to benefit directly from the scarcity of competing capital.https://youtube.com/shorts/Xa4AcXFg8hA?feature=shareThe third idea was REITs, and here Shah introduced a timing element. Over the last three years, REITs have delivered index-level returns of around 13.5%. But with interest rates rising, he suggested that the next six to nine months may present an opportunity to enter at better prices. Rising rates typically compress REIT valuations in the near term, and Shah framed any such correction as a potential entry point rather than a risk to avoid. Beyond the return potential, he positioned REITs as a portfolio diversification tool as the asset class behaves differently from equities and fixed income, and that is still underrepresented in most Indian investor portfolios.The fourth recommendation addressed global diversification but came with an important caveat. Mutual fund industry limits for overseas investment are currently full, which means the conventional route for Indian investors to access global markets through domestic mutual funds is closed. Shah pointed to Gift City as the workaround. Structures domiciled there allow investment under the Liberalised Remittance Scheme, and in his view, these Gift City-based LRS products are the practical path for investors who want global exposure while the mutual fund window remains shut.Across all four — the SIF, performing credit AIFs, REITs, and Gift City products — Shah's underlying argument was the same: in a volatile period, the portfolio needs instruments that can generate positive returns through means other than a rising equity market.(Disclaimer: Recommendations, suggestions, views, and opinions given by experts are their own. These do not represent the views of the Economic Times)

Govt ready with ₹3,000 cr cheque to get element-al

Doctor reveals 4 health markers that may predict heart attack and stroke risk

Doctors are now suggesting looking beyond just LDL cholesterol for heart health. New markers like ApoB, hs-CRP, insulin resistance, and abdominal obesity provide a better and fuller picture. These factors reveal how inflammation, metabolism, and body fat impact vascular health. Understanding these elements helps identify risks earlier for better prevention.

GST ruling may cast wider tax net over casinos

The recent Supreme Court (SC) judgment on online gaming and betting is expected to have wider implications across gambling, horse racing, and casinos, experts feel. The court clarified that the GST valuation framework is not confined to any one segment but applies across betting and gambling activities.The ruling makes it clear that the tax framework cannot be read narrowly. “Rule 31A… applies broadly to all betting, gambling and horse racing… Limiting its applicability only to horse racing would render parts of the rule otiose,” a PwC India note on the SC ruling said.Nitin Vijaivergia, partner at Pricewaterhouse & Co LLP, said the judgment upholds the imposition of the top GST slab on online gaming platforms, triggering significant retrospective tax exposure. The court’s reasoning also centres on how such transactions are structured. It has been clarified that in betting and gambling, valuation can be based on the full amount staked and not merely on a narrower measure.“Section 15(1)… permits valuation based on the entire stake,” and “merely because a different method of valuation… may also have been possible, it does not render the Rule unconstitutional,” the note added.For online gaming and casinos, the judgment clarifies when tax liability arises. The court held that the taxable event is triggered when players commit funds to participate in games with uncertain outcomes and no longer retain control over those funds.This also alters the treatment of player funds. The ruling notes that once amounts are committed for participation, “such arrangements cannot be considered deposits or entrustments,” and “the entire staked amount is treated as consideration for the supply.”In the case of casinos, the position is very clear. The court held that tax would be levied on each instance of staking money on an uncertain outcome, and not on the operator’s net earnings or gross gaming revenue.“The mention of staking money on ‘uncertain future outcomes’ may have broader implications for promotional and skill contests with deterministic scoring, and similar other formats. Key operational elements such as wallet architecture, re-deposits, and cashback will be crucial to determine tax demands, especially considering amendments to GST Rules 31 and 31B affecting valuation,” Vijaivergia said.Tax experts say that, broadly, the GST law will now apply where money or money’s worth is staked on uncertain outcomes, and such amounts are treated as consideration for the supply.

Turning tide on ‘fugitive plastic’: Why milk pouches are Delhi-NCR’s hidden pollution problem

Mother Dairy is launching India's first naturally degradable milk pouch. This new packaging will break down into natural elements in soil over a few years. It aims to tackle plastic waste that escapes recycling systems. The change will not affect consumers. This initiative addresses the significant plastic pollution from milk packaging in Delhi-NCR.

India eyes Myanmar rare earths

New Delhi: Myanmar President Min Aung Hlaing's ongoing India trip could open a major opportunity for New Delhi to harness rare earths from the neighbouring Southeast Asian country which to date are being extracted by China.Myanmar's Kachin and Shan states have massive deposits of rare earth elements including dysprosium and terbium used for permanent magnets for EVs, wind turbines, and defence items. The issue of India harnessing rare earths from Myanmar will figure prominently on the agenda of the meeting between PM Narendra Modi and the visiting President here on Monday. The visiting leader will also address a business forum here.Also Read: NSA Ajit Doval calls on Myanmar President on his maiden visitCurrently, Myanmar's northern neighbour China has been extracting rare earths from the Kachin state, but the visit has provided an opportunity to push its initiative, according to a person familiar with the issue. The Myanmar Army has stepped up its offensive in the border areas which have rare earth deposits, but rebel groups have major influence there.India-Myanmar bilateral trade has expanded over the years, with annual trade growing 23% to touch $2.15 billion in FY25-Myanmar exports totalled $1.53 billion and Indian exports were at $614.3 million. In particular, pulses exports, comprising about 77% of Myanmar's exports to India, increased by 29% in FY25. India is the fourth-largest trading partner of Myanmar.Also Read: Myanmar President Aung Hlaing begins India visitThe rupee-kyat settlement has also been functional since January 2024. The scope for further expanding bilateral trade is significant, particularly if Myanmar could increase fuel and pharmaceutical imports from India under the rupee-kyat mechanism and against its beans and pulses exports in rupees. Indian-made medicines are widely used in Myanmar due to their affordability and quality.As per the Government of Myanmar's statistics, India is presently the eleventh-largest investor with an approved investment of US$782.821 million by 39 Indian enterprises, out of the total estimated investments of US$96.05 billion from 53 countries (as on 31st March, 2025).

Trump draws red lines on Iran deal

US President Donald Trump will only make a peace deal with Iran if it meets all of his conditions, a White House official told AFP on Friday, as questions swirled about the state of negotiations to end the war.The White House had indicated Trump was close to a decision on a potential deal, even as Tehran insisted there was still "no final agreement" on ending the Middle East conflict.Also read: To the Situation Room, now! With new message, Trump stirs Iran cauldron again An Iranian state media report also rebutted several key elements of Trump's characterization of the deal, with sources calling his remarks a "mixture of truth and lies."US sources had told AFP the deal was waiting on Trump's sign-off following weeks of halting negotiations over a conflict that has engulfed the Middle East and shaken the global economy. Trump attended a two-hour meeting in the White House Situation Room on Friday but did not reach a decision."President Trump will only make a deal that is good for America and satisfies his red lines," a White House official told AFP afterward. "Iran can never possess a nuclear weapon," the official added.Trump had announced the meeting in a lengthy social media post, reiterating long-held demands that Iran agree never to develop nuclear weapons and reopen the vital Strait of Hormuz shipping lane. Iranian foreign ministry spokesman Esmaeil Baqaei pushed back, telling state media that the Islamic republic "said goodbye to the language of 'must' 47 years ago." Exchanges of messages were continuing, he added, but "no final agreement has been reached yet."In a phone call with the Emir of Qatar, Iranian President Masoud Pezeshkian said Iran was ready to achieve a "dignified framework" to end the war, according to state news agency IRNA.In his post, Trump said Tehran would remove mines from the Strait of Hormuz and end its blockade of the waterway with "no tolls," while the US would lift its parallel blockade of Iranian ports. The two countries would also coordinate on removing and destroying Iran's enriched uranium, he said, adding that "no money will be exchanged, until further notice."Iran's Fars news agency, however, cited sources as saying Tehran was demanding "the immediate release of $12 billion in frozen Iranian assets" before moving to the next phase of negotiations. On the toll-free reopening of Hormuz, the sources said "no such clause appears in the text of the agreement," while Trump's comment on destroying Iran's nuclear material "is fundamentally baseless."Also read: ‘Tehran said goodbye to “must” 47 years ago’: Iran rejects Trump’s claims of imminent dealBaqaei also told state TV there were currently "no negotiations" taking place on Iran's nuclear program, as Iran's top diplomat suggested the US was holding up a deal with its approach to the talks.'Telling the truth'? Ali, a resident of the city of Tonekabon north of Tehran, said that whatever the deal was, there would likely be more strife to come."Both sides are speaking in a way that keeps their supporters satisfied. It's not clear who is telling the truth," the 49-year-old said.Hopes of an agreement had risen on Thursday after US officials voiced optimism about the diplomatic progress.Energy markets have whipsawed this week as investors parse the chances of an agreement that could potentially resume normal shipping through the crucial Strait of Hormuz.Washington and Tehran have accused each other of violating the truce in and around the strait as recently as this week, with US strikes on the southern Iranian port of Bandar Abbas countered by retaliatory Iranian fire.Iranian state TV said Friday that 24 ships had transited the strait in the past 24 hours, in coordination with the Revolutionary Guards and the foreign ministry.But it warned that "ships from hostile countries face a severe response" from Iran's military.Lebanon fighting On the war's Lebanon front, Israeli Prime Minister Benjamin Netanyahu said Friday that his country's forces had pushed deeper inside Lebanon, while Iran-backed Lebanese group Hezbollah claimed responsibility for a series of drone attacks on military targets in northern Israel, including troop gatherings and barracks.It also said its forces were attacking Israeli troops trying to advance in the area of the medieval Beaufort fortress, near the city of Nabatieh.The attacks came as Israeli and Lebanese military delegations held security talks in Washington, which were called "productive" by Elbridge Colby, the Pentagon's second-in-command.Israel kept up its heavy bombardment of southern Lebanon, where the Lebanese health ministry said a rescuer was among the 11 killed.A ceasefire between Israel and Hezbollah was supposed to have taken effect on April 17, but has never been observed.Both sides accuse each other of violating it and justify their attacks by the other camp's alleged breaches.Lebanon was drawn into the war in early March when Hezbollah launched rockets at Israel over the killing of Iran's supreme leader in US-Israeli attacks, prompting Israeli strikes and a ground invasion.

'Current Affairs': How AI Outsmarts Soaring Heat & Sudden Rain To Maintain India's 'Balance Of Power'

By transforming the national power grid into an intelligent, forecasting organism, India is proving that advanced technology can tame the elements