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A crucial 15.1 km corridor is nearing completion to seamlessly connect the upcoming Jewar International Airport with the Yamuna Expressway. This vital artery, part of the YEIDA master plan 2041, will significantly ease traffic flow for commuters from Noida, Greater Noida, and surrounding sectors. The project promises smoother airport access and a faster alternative route, bolstering the region's exponential development.
Key members of the Trump administration, including vice president JD Vance, have alleged widespread fraud and abuse in the H-1B visa system.
More than two lakh applicants opted to pay USD 100,000 for their H-1B visas to work in the US in the fiscal year 2026, Markwayne Mullin, Secretary, Department of Homeland Security (DHS), said here.Testifying before the Senate Appropriations Subcommittee on Tuesday, Mullin said the DHS had received about 2.86 lakh H-1B applications in the fiscal year 2026."We had 286,000 applicants a year to date for the H-1B visas, out of those, over 200,000 of them paid USD 100,000 to be able to come in because it allows us to process them in a little bit faster of a manner," Mullin said in response to a question by US Senator Susan Collins on the shortage of doctors in rural parts of the country.Mullin said applicants paying USD 100,000 get their papers processed in about 15 days and it takes about 7.5 months to process other applications.Collins told the subcommittee that a hospital in Presque Isle, a rural community in northern Maine, recently had to pay the fee to secure a much-needed surgeon from overseas.She said that medical service providers serving remote areas should be treated differently from employers recruiting highly skilled workers in sectors with larger domestic labour pools."Would you be willing to consider carving out an exemption for medical professionals from this fee when a community can demonstrate that there is not a medical professional available?" Collins asked.Mullin assured the Senator that he would look at possible solutions on whether such applications could be dealt with some flexibility on a case-by-case basis."I would suggest that there's a huge difference between bringing in a computer expert from another country to work in wealthy California and Silicon Valley versus a much-needed surgeon to work at a rural hospital in northern Maine," she said.Republican Senator from Alaska Lisa Murkowski flagged concerns about the shortage of teachers in school districts in rural areas of her state."I'll follow up with you about the issue that I raised previously with regards to H-1B visas for teachers," Murkowski told Mullin.
K Annamalai resigned from IPS in 2019 to realise his ambition of entering politics
Shares of Coforge rose more than 2% to their day’s high of Rs 1,495 on the BSE on Tuesday after the company announced the launch of its "Nexa Agentic AI Platform", a business platform that aims to cater to the global insurance industry.According to the company, the platform is designed to help insurers derive greater value from their existing insurance platforms and speed up time-to-market without replacing core systems. Instead, it layers AI orchestration capabilities over incumbent platforms while operating within the guardrails of leading platform providers.Built on the Coforge One AI platform, Nexa Agentic AI Platform offers a marketplace of more than 30 insurance AI assets covering underwriting, claims, product development, customer service and platform modernisation. The company said the platform is modular and composable, allowing insurers to deploy specific capabilities or adopt the full suite through an Insurance-in-a-Box model.Coforge said the platform is purpose-built for the global insurance market across Property & Casualty, Life & Annuities, Specialty insurance, as well as managing general agents (MGAs) and intermediaries. It incorporates human-in-the-loop oversight, full auditability and measurable outcomes.The platform includes six flagship orchestrators spanning the insurance value chain. These include an AI-enabled Submission Centre, which the company said can increase underwriting capacity by more than 30% through automated data extraction, validation and prioritisation.Another offering, the Agentic State Rollout Factory, is designed to automate rates, forms and filings across jurisdictions, enabling more than 25% faster realisation of new revenue. The AI-enabled Product Rollout Factory aims to accelerate product launches by 30% while improving quality and responsiveness to regulatory changes.Coforge also introduced an Agentic AI Global Expansion capability to support market entry across geographies, a Core Platform Modernisation capability that it said can reduce total cost of ownership by more than 30%, and an Agentic Claims Triaging Centre that can enable more than 35% faster claims triaging and higher straight-through processing.Rajeev Batra, Executive Vice President and Global Practice Head of Insurance at Coforge, said the platform combines the company's AI engineering capabilities with its insurance domain expertise to help clients scale AI adoption and business outcomes.Also read: Morgan Stanley says Indian stock market poised for strong year ahead. Here’s whyThe company said the platform is designed around key insurance stakeholders, including brokers, underwriters, claims adjudicators and customer service agents. Looking ahead, Coforge plans to progressively integrate insurance knowledge graphs into the platform to enhance insurance-specific reasoning across submissions, policies, claims and customer interactions.Coforge said Nexa Agentic AI Platform will form a key part of its insurance go-to-market strategy, helping clients accelerate AI adoption while preserving existing technology investments and complying with platform guardrails.(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of The Economic Times)
In Bengal, local political ecosystems are built around access to power & convenience. When the perception of power changes, behaviour changes much faster than electoral statistics
Japan has increased the maximum fees that foreign nationals may be charged for renewing or changing their residency status, with the new cap set at 100,000 yen ($630) for standard residency permits and 300,000 yen for permanent residency applications. according to a report by Nikkei Asia. The measure was approved by the Japanese parliament on Friday as the country prepares for a growing foreign resident population and plans new integration programmes. The previous upper limit for residency renewal or status-change fees was 10,000 yen. According to Japan's Immigration Services Agency, the revised fee structure reflects services provided to foreign residents. While the law sets the maximum amounts, the actual fees will be decided later through a cabinet order. Under the proposed structure, fees for standard residency permits will vary depending on the length of stay. A three-month residency period is expected to cost about 10,000 yen, while a five-year permit could cost around 70,000 yen. The current fee for in-person renewal applications is 6,000 yen regardless of the duration of stay. Additional revenue to fund integration measures The fee for permanent residency applications is expected to rise to about 200,000 yen. The government said reductions or exemptions will be available for applicants facing financial hardship, and the Immigration Services Agency plans to issue guidelines on eligibility for such relief. The higher fees could generate up to 90 billion yen in additional revenue. Japan's foreign resident population exceeded 4 million at the end of 2025, and the government said the funds will be used to strengthen measures that help foreign residents adapt to life in the country. Planned initiatives include expanding consultation services offered by local governments, improving Japanese-language education and supporting programmes that teach daily-life rules and customs. The government intends to introduce these educational programmes in phases beginning in fiscal 2028. The revenue will also help cover the costs of addressing illegal residency cases. Previously, fees collected were limited to covering administrative expenses such as personnel costs. Faster rollout of JESTA screening system The legal revisions also include changes affecting short-term visitors. Japan will introduce the Japan Electronic System for Travel Authorization (JESTA) as early as fiscal 2028, two years earlier than originally planned, as per Nikkei Asia report. Under the system, travellers from visa-exempt countries will need to submit information online before departure, including their travel purpose, occupation and accommodation details. Authorities will use the information to screen travellers before arrival. Airlines will be required to deny boarding to passengers who do not obtain authorization. The government said the system is expected to help prevent illegal stays while simplifying immigration procedures and reducing waiting times at airports. The legislation faced opposition from the Constitutional Democratic Party and the Japanese Communist Party, which argued that the fee increases would place an excessive burden on foreign residents. However, the measure was passed by parliament and is set to take effect as Japan continues to adjust its immigration and residency policies amid rising foreign arrivals and residency numbers.
Wix is laying off approximately 20% of its workforce, impacting around 1,000 employees. This significant restructuring is driven by the strengthening Israeli shekel and the rapid evolution of AI capabilities. CEO Avishai Abrahami stated the move is necessary to create a faster, leaner, and flatter organization.
In an environment where global equities are swinging between optimism around AI-led growth and anxiety over persistent inflation, elevated interest rates, and geopolitical uncertainty, investors are once again being tested, not on intelligence, but on psychology.Charlie Munger’s famous list of “human misjudgment tendencies” is not just a philosophical framework. It is, in today’s market, a practical survival guide.Markets in 2026 are still being shaped by three dominant forces:(1) higher-for-longer interest rates, (2) liquidity concentration in a few mega-cap stocks, and (3) emotionally driven retail participation.Against this backdrop, Munger’s behavioral warnings feel unusually relevant.1. The real enemy is not volatility, but emotional distortionMunger repeatedly warned that investors don’t lose money because they lack information, they lose because they misprocess it.Today’s markets amplify that problem.Every CPI print, Fed commentary, or geopolitical headline triggers immediate overreaction. Investors are constantly pulled between fear of missing out (FOMO) in AI-led rallies and fear of correction during rate jitters.This is a classic combination of:Availability bias (overweighting recent news)Social proof (following crowded trades)Stress-induced reaction (panic buying or selling)In Munger’s language, this is the setup for “avoidable stupidity.”2. “Envy and FOMO” are silently driving modern portfoliosOne of Munger’s strongest warnings was about envy, not as emotion, but as a financial destroyer.In today’s market, envy doesn’t look like jealousy of a neighbour. It looks like:Chasing AI stocks after they’ve already rerated sharplyComparing portfolio performance with index benchmarks dailyAbandoning long-term positions because “others are making faster money”When liquidity is abundant in a narrow set of names, envy becomes structurally embedded in portfolio behaviour. Investors are no longer asking “Is this a good business?” but “Am I missing this move?”That shift is dangerous in a market where leadership is concentrated and reversals can be abrupt.3. The “Lollapalooza effect” is stronger than everMunger described the Lollapalooza effect as multiple biases reinforcing each other into extreme outcomes.Today’s version looks like this:Social media hype amplifies narrativesAlgorithmic flows reinforce momentumPassive inflows concentrate capital into large indicesRetail traders amplify short-term spikesThe result: prices detach from fundamentals faster, and corrections become sharper when sentiment shifts.This is why today’s rallies often feel effortless, but reversals feel violent.4. Overconfidence is rising with “easy market memories”A prolonged period of strong returns, especially in largecap tech, creates what Munger called “excessive self-regard”.Many investors now assume:“Buying dips always works”“Quality stocks never go down much”“The Fed will rescue markets eventually”But in a higher-rate regime, that assumption is no longer guaranteed. Valuation compression risk is real, and earnings must now do more of the heavy lifting.Confidence built in one regime often breaks in another.5. The biggest risk today: avoiding pain too aggressivelyOne of Munger’s less discussed but critical ideas is “pain-avoidance behavior”.In today’s context, it shows up as:Selling winners too early to “lock in gains”Avoiding fundamentally strong but volatile sectorsSitting excessively in cash due to fear of drawdownsIronically, in trying to avoid discomfort, investors often underperform the very market they are trying to survive.6. What works in today’s market: Munger-style disciplineIf we translate Munger’s philosophy into today’s environment, a few principles stand out:(1) Concentrate only when conviction is realNot based on stories, but on durable cash flows and long-term pricing power.(2) Expect volatility as a feature, not a flawEven high-quality companies will see sharp drawdowns in a rate-sensitive world.(3) Reduce decision frequencyMost mistakes come from over-trading emotional signals disguised as “information.”(4) Build a bias checklistBefore acting, ask:Am I reacting to news or value?Am I following the crowd?Would I make this decision in isolation?7. The current market lesson in one lineIf Munger were observing today’s markets, the warning would likely remain unchanged:“The biggest returns still come from avoiding obvious psychological errors, not from predicting the next move.”Bottom lineToday’s markets are not irrational, but they are emotionally amplified. Liquidity, technology, and information speed have not removed human bias; they have accelerated it.That is exactly the environment where Munger’s framework becomes most powerful. Because in the end, investing success is still less about knowing more, and more about misbehaving less.
Guwahati: The Manipur cabinet meeting discussed related to the appeal made by the Prime Minister for various steps to be taken by the State Governments and citizens of the country in view of the global challenges at present.The State Cabinet decided to implement the various points mentioned in the appeal of the Prime Minister, including reducing the size of VIP convoy following a security review, start ‘work from home’, freeze Government funded foreign travel, and take steps to reduce non-essential Government expenditure.Also Read: Manipur CM Y Khemchand Singh hails Centre's decision to form panel on demographic changeThe meeting while approving the filling up of 173 posts of Auxiliary Nurse and Midwife (ANM) in the Family Welfare Department, with funding from the Central Government, the State Cabinet took a decision to approve age relaxation of 2 (two) years for all recruitments yet to be notified by State Government departments.State Cabinet approved the rates of compensation related to land acquisition for expansion of the Imphal – Jiribam and Imphal – Dimapur National Highways. These decisions will lead to faster implementation and timely completion of these projects, which will greatly benefit the state.The Cabinet approved the rationalization of posts under the Manipur State Power Company Limited (MSPCL) so that the employees can have adequate promotional avenues. This shows the intention of the State Government that employee welfare is a priority.The cabinet also approved the extension of the critical ‘Manipur Water Supply Project’ funded by the New Development Bank (NDB) and approved the proposal of Tourism Department for implementation of the ‘Loktak Experience Project’ which will develop Loktak as an Iconic Tourist Destination.
A Russian drone crashed into an apartment building in eastern Romania, injuring two people and sparking outrage. President Nicusor Dan called it the "worst incident to hit the national territory" since the war began. NATO and EU leaders condemned the "serious and irresponsible escalation," with Romania requesting faster anti-drone aid. This occurred amidst renewed Russian attacks on Ukraine.
The principals used similar language — describing the OSM system as “transparent”, “accurate”, “faster” and “technology-driven” while backing the decision.
MUMBAI: Indian life insurers have asked the government to double the tax-free limit for insurance policies from 500,000 rupees ($5,232), hoping for a boost to inflows into these funds, three sources directly aware of the matter said. New tax limits were imposed in February 2023, applicable to all insurance schemes except unit-linked insurance plans (ULIPs). Since then, inflows into non-ULIP schemes have risen a modest 2% and 5% for fiscal years 2024 and 2025, respectively. This is sharply lower than the 13% and 18% growth in the previous two years, data showed. The flows for fiscal 2026 grew 16%, largely due to a reduction in the goods and services tax. Stronger inflows into such funds will boost demand for ultra-long bonds - which these funds heavily invest in - at a time when the federal and state governments' supply has risen, the sources said, declining to be identified as they are not authorised to speak to the media. Similar requests had been made after new tax limits were imposed. The Life Insurance Council and the Insurance Regulatory and Development Authority of India did not reply to a Reuters email seeking comment. Slower inflows have curbed demand for longer-maturity debt, along with pushing up yields on 30-year and above maturity papers, faster than the 10-year note. The Indian government has reduced the share of ultra-long bonds in April-September borrowing to 25%, sharply lower than 30% for the second half of fiscal 2026 and 35% for the preceding six months. It would be difficult to maintain supply at this level, and the government will have to increase it to at least 30% in October-March, according to traders. "Increasing the tax exemption limit is a necessary first step to unlock the deep pool of long-term capital required to anchor India's fiscal expansion," said Arun Srinivasan, chief - fixed income, ICICI Prudential Life Insurance. "Implementing this measure will incentivise long-term retail and institutional savings, offering critical domestic support for the state's ultra-long-term borrowing needs," he said. The appeal was made via a letter from the Life Insurance Council, a forum which represents insurers, to the government earlier this month, the sources said.
The Reserve Bank of India (RBI) on Thursday said that India's financial sector remained resilient in 2025-26, supported by healthy bank and non-bank balance sheets, improved asset quality and strong capital buffers. The central bank affirmed confidence in India's banking sector, indicating that it remains healthy, with gross bad loans at multi-decadal lows and stress tests showing banks can withstand severe shocks without breaching capital norms."Stress test results reaffirmed the resilience of banks, indicating their ability to withstand losses under adverse scenarios while maintaining capital buffers well above the regulatory minimum," the central bank said in its Annual Report. RBI further highlighted that the financial sector remained resilient on the back of healthy bank and non-bank balance sheets, improved asset quality and capital buffers, enabling double-digit credit growth.Also read: India steers boat through a risky channel between war clouds and El NinoRBI noted that bank credit growth gained momentum across sectors and outpaced deposit growth during the year, leading to a rise in the credit-deposit ratio. The transmission of policy repo rate changes to banks’ deposit and lending rates also remained robust amid conducive liquidity conditions.Bank credit to the commercial sector grew 15.9% year-on-year in 2025-26, up from 10.9% a year ago, while credit from non-bank sources expanded 13.3%, underscoring the continued strength of financial intermediation in the economy, the report said.RBI noted that profitability of scheduled commercial banks remained robust alongside improvement in asset quality. The gross non-performing assets (GNPA) ratio declined to a multi-decadal low, while the capital to risk-weighted assets ratio (CRAR) remained comfortably above regulatory requirements.The report added that asset quality and capital adequacy of non-banking financial companies (NBFCs) remained strong during the year. Urban co-operative banks also witnessed improved credit and deposit growth along with robust capital buffers and higher profitability.The central bank further said the share of external benchmark-based lending rate (EBLR)-linked loans increased during the year, aiding faster monetary policy transmission, while the proportion of marginal cost of funds-based lending rate (MCLR)-linked loans continued to decline.RBI on Central Bank Digital Currency (CBDC)The RBI indicated that it expanded its experimentation with Central Bank Digital Currency (CBDC) during 2025-26 by launching multiple pilots linked to direct benefit transfer (DBT) schemes of the Centre and state governments.In its Annual Report, the central bank said programmable CBDC was used to deliver food subsidies under the public distribution system (PDS) in Gujarat, Puducherry and Chandigarh. Beneficiaries were credited subsidies through CBDC wallets that could be redeemed only for eligible commodities at fair price shops and designated merchants.The RBI said the pilots leveraged the programmability feature of CBDCs, allowing targeted use of funds and improving efficiency in subsidy delivery.The central bank also advanced efforts in tokenisation of financial assets through the development of the Unified Markets Interface (UMI), a multi-layer platform aimed at improving settlement efficiency using wholesale CBDC.“A pilot on tokenisation of certificates of deposit (CDs) was initiated on UMI,” the report said.On cross-border payments, RBI said it signed a memorandum of understanding with the Monetary Authority of Singapore (MAS) for collaboration on digital assets and held bilateral discussions with MAS and the Central Bank of the UAE (CBUAE) to operationalise a cross-border CBDC pilot.The RBI also joined multilateral initiatives led by the Bank for International Settlements (BIS) Innovation Hub, including Project Rialto and Phase 2 of Project Mandala, focused on improving cross-border payments using CBDCs.The report comes as central banks globally continue to explore digital currency infrastructure to improve payment efficiency, lower transaction costs and strengthen cross-border settlement systems.The research by the U.S.-based Atlantic Council think tank revealed that 146 countries & currency unions, representing over 98% of global GDP, are exploring a CBDC. There is a new high of 77 countries in the advanced phase of exploration, which includes development, pilot, or launch.
The S&P 500 and the Nasdaq posted record closing highs on Thursday after news reports said the U.S. and Iran had reached a draft agreement to extend their ceasefire for 60 days, while investors also digested key inflation data.The news was first reported by Axios, which said that negotiations on Iran's nuclear program would be held during the truce period, but that the plan still needed the approval of President Donald Trump."Traders are on a hair trigger with the back-and-forth on deal news, and have been leaning long to avoid getting trampled by a better-than-expected outcome. The harder part is that the inflationary forces may not abate as fast as markets want," said Jamie Cox, managing partner at Harris Financial Group. Economic data showed U.S. inflation increased at its fastest pace in three years in April, driven by higher energy prices amid the Iran war. Meanwhile, U.S. GDP for the first quarter was revised lower to a 1.6% annualized increase, with momentum expected to slow this quarter.According to preliminary data, the S&P 500 gained 43.50 points, or 0.58%, to end at 7,563.71 points, while the Nasdaq Composite gained 239.79 points, or 0.91%, to 26,917.47. The Dow Jones Industrial Average rose 24.11 points, or 0.04%, to 50,666.29. The S&P 500 healthcare index posted strong gains. Eli Lilly advanced after CVS Health said it would restore the drugmaker's weight-loss injection, Zepbound, to its coverage and add its newly approved obesity pill Foundayo.Tech shares also moved higher. Microsoft gained after news website the Information reported that the company would release a new coding model next week.Marvell Technology rose after UBS raised its target price to $230 from $195.The company's shares have more than doubled so far this year.Snowflake shares soared after the data analytics firm lifted its annual product revenue forecast and announced a five-year AI infrastructure deal worth $6 billion with Amazon Web Services.Peers Datadog and MongoDB also climbed.Renewed confidence in AI and earnings growth momentum have underscored the recent rally despite the Middle East tensions, which have increased inflationary expectations."Markets continue to look through these risks because the global economy and corporate earnings remain relatively resilient," said Jitania Kandhari, deputy CIO, solutions and multi-assets, at Morgan Stanley Investment Management."Geopolitical instability could ultimately accelerate spending in areas tied to AI, including cybersecurity, defense technology, energy infrastructure and supply-chain resiliency, reinforcing the long-term investment case."While the S&P 500 is trading at roughly 21 to 22 times forward earnings versus a trailing 10-year average of 19.7 times, investors are less concerned because earnings expectations are rising faster than stock prices, Kandhari said. Among other movers, Dollar Tree climbed after the discount retailer lifted its full-year profit forecast, while Best Buy also rose after the electronics vendor forecast second-quarter sales above estimates. Drone companies rose after the Wall Street Journal reported that the Trump administration was in talks to fund drone firms. Shares of Unusual Machines surged.
Mumbai: The consolidated net profit of listed commercial banks crossed ₹4 lakh crore for the first time in FY26, with top three lenders - State Bank of India (SBI), HDFC Bank and ICICI Bank - making up more than half the sector's aggregate bottom-line.Overall, private banks accounted for a slightly higher share of the profits at ₹2.09 lakh crore, while state-run banks reported an aggregate net profit of ₹2.01 lakh crore. The consolidated net profit of the top three lenders - also designated as systemically important by the banking regulator - totalled ₹2.13 lakh crore. Overall, the banking industry's consolidated net profit rose 4.5% to ₹4.11 lakh crore, and standalone net profit increased 7.5% to ₹3.95 lakh crore. 131377238The net profit for banks may have been even higher but for the sharp, 45-basis-point rise in benchmark government bond yields in the fourth quarter and the unexpected imposition of the $100 mn cap on net open position just a day before year-end. The cap was introduced to curb the steep decline in the rupee against the dollar. Both factors, however, weighed on treasury incomes at banks.The top three banks accounted for 43% of deposits and 44% of advances, with system-wide deposits at ₹251 lakh crore and advances at ₹212 lakh crore by end March 2026.Advances of PSU banks rose 16%, while those of private banks grew 14%, while deposits rose 10% and 13%, respectively, in FY26 over previous year.Growth, however, may soften this year due to the impact of the West Asia crisis that began on February 28. "The economic fallout of the conflict may lead to lower GDP growth and higher inflation in FY2027," SBI Chairman S C Setty said in his address to shareholders in the bank's annual report. Loan Growth SlowingSBI expects credit to expand by 13%-15% in FY27 versus 17% previous year. At an analysts' meeting, Setty said, "Credit growth is a function of macroeconomic conditions. We do not want to grow faster than what the macro environment can support."Net profits of private and PSU banks were almost equal, despite PSU banks holding around 61% market share in total business (deposits and advances). PSU banks' net profit rose 11% to ₹1.98 lakh crore, while private banks' profit increased 4% to ₹1.96 lakh crore.
CPI(M) candidate Sambhu Nath Kurmi received 40,625 votes securing 19.34 % of total votes polled; CPI(M) state secretary Md. Salim said the Trinamool Congress is ‘melting faster than ice’ in this summer heat