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Srinagar airport to be shut for fortnight from October 1 for maintenance; locals fear blow to business

Starting in July, airport operations will be closed for two days every week, culminating in the full 15-day closure from October 1 to October 15

Karnataka announces half-day office closure near Vidhana Soudha on June 3 for DK Shivakumar's oath ceremony

Government offices located in the vicinity of the Legislature and Vidhana Soudha will remain closed on the afternoon on June 3.

India gets its first AI music company

India's first AI-powered music company PaRa Music launched on Tuesday, offering a model designed to help original Indian music reach larger audiences across the country and worldwide, but does not create its own music.The music venture combines human-created music with proprietary AI-led market intelligence to guide catalogue development, distribution, and monetisation of music. It is backed by a funding from a consortium of angel and institutional investors led by Apollo Growth Capital and plans to build a catalogue of 40,000 songs over the next four years across film and non-film music, spanning Hindi and regional languages.Tapping one of the world’s largest music markets, PaRa is aiming to bridge the gap between audience demand and effective discovery, particularly for regional and non-film music. With the industry projected to reach Rs 7,500 crore in 2028, estimates point to continued expansion in both streaming and recorded music revenues.Para Music has deployed a model "ParaMeter" as its in-house AI Chief of Music Intelligence who does not create music.This AI brain analyses audience signals across platforms and geographies to identify emerging demand, guide investment decisions, and support smarter catalogue and release strategies. The approach is intended to improve discovery and market fit while keeping music creation firmly in the hands of artists, composers, and songwriters.The venture is planning to build its business around the premise that original Indian music should have a stronger path to audience reach and long-term monetisation. It combines human creativity, institutional capital with data-led decision-making to support catalogue creation, targeted distribution, and diversified revenue opportunities for creators and rights holders.It further aims to partner with central and state governments to support music-led cultural, creative, and economic initiatives across India.PaRa Music is entering a broader market in which music rights and catalogues are increasingly viewed as long-term assets, with global investment activity expanding across recorded music and related rights. It adds volume to India’s national music arena through a technology-led approach and a professional team aiming to build Indian music IP for the world, ensuring creators achieve stronger commercial outcomes and capture greater long-term value.“India has one of the world’s richest and most diverse music ecosystems, yet much of its potential remains untapped. PaRa Music was founded to unlock this opportunity through technology, data, and strategic investment in Music IP," said founder Rashna Pochkhanawala.As the global recorded music market moves towards $200 billion by 2035, Pochkhanawala believes that India is poised to become a major growth engine.“We rarely encounter opportunities where a large market, a proven business model, and exceptional leadership converge so clearly. India’s music economy is entering a period of unprecedented growth, and we believe Music IP will be one of the defining asset classes of the next decade," said Johri, Company Spokesperson - Apollo Growth Capital.

Vedanta's Zambia unit shuts smelter for maintenance

IMD warns of heavy rain in Kerala; orange alerts issued as monsoon likely by June 4

‘Orange alert for three northern Kerala districts — Malappuram, Kozhikode and Wayanad — for Tuesday, and yellow alert for remaining 11 districts

Thailand tourists warned of heavy rain

Tourists planning a trip to Thailand this week may need to prepare for wet weather, possible travel disruptions and rough sea conditions, as the country's meteorological agency has forecast widespread rainfall and thunderstorms across several regions. According to the Thai Meteorological Department (TMD), a strong south-west monsoon over the Andaman Sea, Thailand and the Gulf of Thailand, combined with a low-pressure system off the coast of Vietnam, is expected to bring persistent rain across the country on June 2. Authorities have warned of heavy rain in several provinces and very heavy rainfall along parts of Thailand's west coast in the south. The weather conditions could trigger flash floods and runoff in low-lying areas and locations near waterways. Which tourist areas could be affected? Popular destinations on Thailand's west coast, including Phuket, Krabi, Phang Nga, Trang and Satun, are expected to see the heaviest rainfall, with thunderstorms forecast across 80% of the region.131421089 In eastern Thailand, tourist destinations such as Pattaya and coastal areas in Rayong and Trat could also experience thunderstorms and periods of heavy rain. The forecast for Bangkok and surrounding areas indicates thunderstorms in around 60% of locations, with isolated heavy downpours possible. What should island-hoppers and beachgoers know? Travellers planning boat trips, island tours or water activities should closely monitor local weather advisories. The TMD has warned of rough seas in both the Andaman Sea and the Gulf of Thailand. Wave heights in the upper Andaman Sea, including waters around Phuket, are expected to reach 2-3 metres and could exceed 3 metres during thunderstorms. In the lower Andaman Sea, including waters near Krabi and southern islands, waves could rise above 2 metres during storms. Authorities have advised vessels to proceed with caution and avoid sailing through thunderstorm zones. Small boats in the upper Andaman Sea have been advised to remain ashore. How could the weather affect travel plans? Heavy rain may lead to delays for ferry services, island excursions, outdoor sightseeing and adventure activities. Tourists visiting beaches, national parks and mountainous areas should be alert to local weather warnings, particularly in regions vulnerable to flash flooding.

After warning of entire job category losses, Sam Altman says AI firms are hiring more

OpenAI's Sam Altman now contends that AI adoption correlates with increased hiring, not job losses. He suggests companies blaming layoffs on AI might be underutilizing the technology, calling it a "convenient way" to explain cuts. Altman believes human interaction and expertise remain central, with successful AI integration augmenting, not replacing, workers.

Why Srinagar Airport will remain closed two days a week: All you need to know

Srinagar International Airport to be shut from October 1 for maintenance. Starting from July, airport operations will be closed for two days every week. Check schedule.

Srinagar Airport To Remain Closed Twice A Week From July To September

Flight operations at Srinagar Airport will be suspended twice weekly for runway repair.

'Won't contest in Trichy bypoll': VCK chief

Chennai: VCK chief Thol Thirumavalavan on Tuesday announced that he will not contest in the Tiruchirappalli East Assembly constituency vacated by Tamil Nadu Chief Minister C Joseph Vijay, as he has no desire to become a minister in the TVK cabinet.He would not contest in any by-elections and would not be influenced by anyone, the Viduthalai Chiruthaigal Katchi founder said following speculation that the TVK's ally leader will make it to the Assembly from Tiruchirappalli East seat that was won by Vijay in the April 23 Assembly polls. Following his victory from two constituencies, Vijay vacated Tiruchirappalli East and retained Perambur constituency in Chennai."I am saying this 100 per cent that I will not contest in any by-elections nor will I be influenced by anyone," Thirumavalavan said in a video message and revealed that he was offered a chance to contest from the constituency, which was vacated by Vijay, as per ECI norms, with the promise of a ministerial berth upon his victory.Also Read: Congress seeks Rajya Sabha seat from ally Vijay's TVK"I have denied it from my side and I thank Chief Minister Vijay for the offer," he said.Thirumavalavan's VCK, along with the Left parties and IUML, had extended support to the Vijay-led TVK in forming the government while the Congress had joined Tamilaga Vettri Kazhagam in a post-poll pact. Apart from the Congress, both VCK and IUML legislators have been accommodated in the newly formed government.Explaining that his support to the TVK was extended only after consulting DMK president M K Stalin, he stressed that the support was mainly to prevent the implementation of the President's rule in Tamil Nadu."I have been a harshest critic of Vijay before the election and even accused him of attempting to divide the minority votes and hindering the progress of Secular Progress Alliance," the VCK chief said and rejected the TVK offer, stating that he was not power hungry and has always been committed to safeguarding the DMK-led alliance. Also, he stated that he need not become an MLA to get a role in the Cabinet.He has already communicated his decision to the TVK chief and said he earlier withdrew from the race when he was asked to contest from Kattumannarkoil in April this year in order to preserve the DMK-led combine's unity.Putting to rest speculation about his poll contest, Thirumavalavan said he was committed to the people, social justice and ideological integrity and appealed to his cadres and public not to pay attention to any rumours on contesting byelections.

'Jeet gaye, kar diya na maine': Rajat Patidar's first words to childhood friend

Moments after RCB’s IPL 2026 victory, Patidar shared an emotional embrace with childhood friend Abhishek Pathrod, saying, “Dekha, jeet gaye. Kar diya na maine." The triumph capped a remarkable rise for the soft-spoken leader, whose calm captaincy and prolific batting helped transform RCB from perennial underachievers into back-to-back champions.

Telangana Teen Dies By Suicide, Bandh Called Over 'Love Jihad'

The bandh affected normal life, with many shops remaining closed

‘National ownership must remain at heart’: India calls for transparency in UN's development pillar

India's Permanent Representative to the UN, Parvathaneni Harish, said he participated in a dialogue with the UN Deputy Secretary-General Amina J Mohammed

'Singham' Returns? Why Annamalai Remains Relevant In Tamil Nadu With Zero Election Wins

Annamalai is set to meet Home Minister Amit Shah in Delhi on Tuesday amid speculation that he may quit Tamil Nadu BJP and form his own party.

Coforge shares gain over 2% after unveiling agentic AI platform for insurance industry

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)

Oil prices: Crude rises amid uncertainty over US-Iran negotiations & Hormuz reopening

Oil prices saw a slight uptick as US-Iran talks and the potential reopening of the Strait of Hormuz created market jitters. Conflicting signals from Washington and Tehran fueled uncertainty, with traders closely watching any progress or breakdown in negotiations. Developments around the crucial energy route remain a key focus, impacting global supply routes and risk sentiment.

Russia launches major attack across Ukraine; several feared trapped after missile-hit building collapses

Russia unleashed a major overnight assault on Ukrainian cities, including Kyiv and Dnipro, hours after President Zelenskyy's warning. Fatalities and injuries were reported in Dnipro, with fears of people trapped in Kyiv's rubble. Meanwhile, a Ukrainian drone strike claimed a civilian life in Russia's Kursk region. Peace efforts remain stalled amidst escalating cross-border attacks.

India's CPI inflation expected to rise to 4.8%

New Delhi: India's CPI inflation is expected to rise by around 70 bps to 4.8 per cent with crude oil averaging USD 90/bbl in FY27, according to a report by 360 ONE Capital. This projection comes as the ongoing conflict in West Asia and a downgraded domestic monsoon forecast introduce fresh challenges to India's macroeconomic trajectory.The report noted that the conflict in West Asia and the resulting energy supply disruptions warrant a reassessment of key macroeconomic assumptions. "Our revised base case assumes de-escalation by mid-June, with crude oil averaging USD 90/bbl in FY27. Under this scenario, CPI inflation is expected to rise by around 70 bps to 4.8% (from 4.1%), while GDP growth moderates to 6.3% (from 6.7%). The fiscal deficit is projected to widen to 4.6% of GDP (from 4.4%), and the current account deficit to 2.1% of GDP (from 1.3%)," the report stated.Also read: India meets FY26 fiscal deficit goal at 4.4% of GDP despite revenue and global pressuresThe report noted that India's economic momentum remains stable due to domestic consumption and public spending, but geopolitical frictions pose tangible downside risks. Supply routes through the Strait of Hormuz are particularly vital, as India sources nearly 50 per cent of its LPG and around 30 per cent of its natural gas requirements through this route.Even though the "net petroleum import bill has declined from 5.5% of GDP in FY14 to around 3.0% in FY25, the economy remains exposed to a prolonged disruption in energy supplies."On the monetary front, global financial conditions continue to tighten as central banks react to persistent inflationary impulses. While the Reserve Bank of India is expected to keep policy rates unchanged in the upcoming meeting, domestic bond yields face upward pressure from a widening fiscal deficit and higher energy costs.Also read: Manufacturing activity at 3-month high in May despite cost woesThe report mentioned that the impact on macroeconomic variables is likely to be non-linear, implying significantly larger downside risks if the conflict persists. "A further USD 10/bbl increase in crude prices above our base assumption could push inflation to 5.6% (assuming a partial pass-through of around 5% to retail fuel prices), lower GDP growth by an additional 40 bps to 5.9%, widen the current account deficit to 2.5% GDP, and increase the fiscal deficit to 4.8% of GDP," the report added.Compounding these external geopolitical risks, the domestic agricultural outlook faces unexpected pressure. In its Second Long Range Forecast, the IMD downgraded the Southwest Monsoon 2026 forecast to 90 per cent of the Long Period Average (LPA) from 92 per cent estimated in April.This development represents the weakest monsoon outlook since 2015, which raises immediate concerns over overall agricultural output and rural demand.In the global perspective, the IMF has lowered its 2026 global growth forecast by 20 bps, citing risks from the Middle East conflict through higher commodity prices, inflation, and tighter financial conditions.The report stated that under the IMF's reference scenario, "global growth is projected at 3.1% in 2026 and 3.2% in 2027, below both the recent 3.4% pace and the historical average of 3.7%. In adverse scenarios, growth could slow to 2.5% or even 2.0%, accompanied by significantly higher inflation, with emerging markets expected to be disproportionately affected."

Sensex falls over 400 points, Nifty below 23,250 amid US-Iran tensions, persistent FII selling

Indian stock market traded in deep red on Tuesday, with Sensex and Nifty falling more than 0.5% each as renewed tensions around the Iran-US war, along with persistent FII selling spooked investors.Sensex declined over 415 points to 73,852, while Nifty 50 fell 142 points to 23,240, as seen at 9.17 am. This came even as India VIX, which measures volatility in markets, tumbled 2.5% to 16.13.Bajaj Finance shares were the top losers on the index, falling nearly 3%. Eternal, Bharat Electronics (IBEL), Bajaj Finserv, Trent, NTPC, Power Grid, UltraTech Cement and L&T followed, dropping 1-2%. Bucking the trend, IT stocks including Infosys, TCS, TechM and HCL Tech gained 1-3%.Broader markets underperformed benchmarks, with Nifty Smallcap 100 and Nifty Midcap 100 indices falling around 1% each. Sectorally, Nifty Auto, Nifty Realty, Nifty Consumer Durables and few other indices declined more than 1% each. Bucking the trend, Nifty IT gained nearly 2%. Around 887 stocks advanced on NSE, while 1,650 declined and 97 remained unchanged.The trend of sustained AI trade, new records for markets in US, South Korea and Taiwan, sustained FPI selling in India and India’s underperformance are continuing with no immediate signs of reversal, said VK Vijayakumar, Chief Investment Strategist at Geojit Investments. “To add to India’s problems, the energy shock has led to downward revision of India’s GDP growth and upward revision of inflation this financial year. And now we have the additional threat of the IMD’s latest projection of monsoon rains at 90% of long term average, which will have negative implications for growth and inflation,” he added.A resolution of the West Asia conflict and the consequent dip in crude price will be a big positive, but expectations on that front have been belied and the issue continues to hang fire, the analyst explained. “In these tough times of huge uncertainty and challenges, the ideal strategy for investors is to stick to the basics. Do proper asset allocation based on one’s risk profile and financial goals and wait with patience,” he further said.Iran-US war uncertaintiesIran and US traded strikes, while Israel ordered troops to move further into Lebanon in its battle with the Tehran-backed ‌Hezbollah militant group. The renewed tensions in the Middle East, after Washington ⁠hosted Israel-Lebanon peace ‌talks on Friday, dimmed hopes that the US and Iran could soon announce an extension to their ceasefire, which continues to grow fragile.US President Donald Trump meanwhile took to Truth Social on Monday evening, saying that he persuaded Prime Minister Benjamin Netanyahu to call off the strike on Beirut, following which the Israeli leader "turned his troops around". "I had a conversation with Bibi Netanyahu today (Monday), asking him not to go into a major raid of Beirut, Lebanon. He turned his Troops around. Thank you Bibi," he said, referring to the Israeli prime minister by his widely used nickname.Trump said on Friday he would soon decide on ⁠a proposed deal to extend a ceasefire announced in early April. Israel would be key to any such deal, and Iran has said repeatedly that Hezbollah and Lebanon must be included. The US has proposed a "gradual de-escalation" plan, a US official said on Sunday.Oil prices riseBrent crude futures neared $95 per barrel mark while WTI Crude futures neared $92 per barrel as a result of the recent escalations. This comes after Brent and WTI Crude dropped 19% and 17% in May, recording their biggest monthly fall in absolute terms since March 2020 when the COVID-19 pandemic slashed energy demand.The rising military strikes in the geopolitically fragile Middle East raised worries over the prolonged closure of the Strait of Hormuz, a narrow 33-kilometre waterway connecting the Persian Gulf with the Gulf of Oman that handles over 20% of the world’s daily oil and gas shipments.FII selling continuesForeign investors remained net sellers of Indian equities, net selling shares worth nearly Rs 3,912 crore on Dalal Street on Monday. This came after a massive Rs 22,102 crore selloff in just one session on May 29. Notably, South Korea’s equity market has overtaken India’s as the world’s sixth largest, driven by a relentless surge in chip heavyweights powering the global artificial intelligence buildout.(With inputs from agencies)(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of The Economic Times)

NTA’s re-exam portal comes under cybersecurity spotlight; researcher claims data exposure

The National Testing Agency’s (NTA) re-examination portal has come under scrutiny after cybersecurity researchers alleged vulnerabilities that could expose administrative data and provide unauthorized access to portal functions. The claims, shared online, remain independently unverified, and NTA has yet to respond to queries seeking clarification. The allegations emerge amid heightened concerns over the security of examination-related digital platforms following the recent controversy surrounding CBSE’s On-Screen Marking (OSM) system.