PM Modi pushes growth agenda at EAC meet amid economic pressure
The meeting came in the backdrop of criticism from opposition, which have cited the rupeeโs deterioration and rising fuel prices as evidence of policy failure.
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The meeting came in the backdrop of criticism from opposition, which have cited the rupeeโs deterioration and rising fuel prices as evidence of policy failure.
Soaring jet fuel prices driven by conflict in the Middle East are likely to push more airlines into bankruptcy and spur more sector consolidation this year and next, the head of the global airline body said on Saturday. Global airlines are grappling with higher fuel costs driven by the U.S. and Israel's war with Iran, which has choked jet fuel supplies and disrupted key air corridors, forcing costly detours.Also read: Airbus delays XLR deliveries to IndiGo as war hits suppliers Budget carriers have been among โthe hardest hit, โ lacking higher margin โ revenue streams such as premium cabins, high-paying travelers and credit card loyalty programs. The strain is already showing: U.S. budget airline Spirit Airlines collapsed last month, and it will not be the last, said Willie Walsh, director general of the International Air Transport Association, the industry's main trade body. "Unfortunately I think there will be some carriers that will find this high fuel price very difficult to cope with," Walsh told Reuters at IATA's annual summit in Rio de Janeiro, adding he expects some airlines to go out of business and others to be acquired by larger carriers. Even so, the pressure does not spell the end of the low-cost airline model, which continues to thrive outside the United States, where the big three carriers, United Airlines, Delta Air Lines and American โ Airlines, are squeezing โout budget competitors, Walsh said. "I don't see that the low-cost model is broken, in fact, quite the opposite," he said, highlighting Ryanair's strong performance in Europe as an example. There is one blockbuster deal Walsh does not see happening: United Airlines CEO Scott Kirby's audacious โ proposal to buy arch rival American Airlines and create a U.S. aviation behemoth. The idea, which surfaced earlier this year, failed to get done despite Kirby raising it with President Donald Trump. "I don't think that's going to happen. I think the regulatory hurdles would be very significant. I don't know whether that was a genuine effort to pursue consolidation or Scott just trying to stir up some media," Walsh said. MIDDLE EAST AIRLINE WOES The Iran conflict has upended traffic flows through Middle Eastern hubs such as Dubai, Doha and Abu Dhabi, creating acute challenges for Gulf carriers including Emirates, Qatar Airways and Etihad. Walsh said he didn't think the conflict would do permanent damage to the Gulf as an aviation hub given its strategic geographic importance and the value of the popular Gulf carriers, which account for 14% of โglobal capacity. "That capacity cannot be replaced by airlines from other regions around the world," Walsh said. "Once things settle down, I would expect the Gulf carriers to regain their important position in the market." Adding to the strain is the slow pace of aircraft deliveries from Boeing and Airbus, along with engine delays from โ GE Aerospace and Pratt & Whitney, a unit of RTX, limiting airlines' ability to expand fleets and improve efficiency.Also read: Airline chiefs grapple with fuel shock, fare test at Rio summit Walsh said the industry is increasingly frustrated by the delays, particularly as engine makers post strong profits while airlines struggle. He estimates supply chain disruption cost airlines about $11 billion last year. "We're disappointed that they're not moving faster. We're disappointed that they're not sharing the pain that the airline industry is sharing," he said. Aircraft and engine makers have said that much of the delays are out of their control, stemming from post-pandemic supply chain disruptions and political trade disputes. As airlines come under financial strain and climate policies lose momentum in the U.S. under Donald Trump, industry leaders have grown more cautious about meeting a 2050 net zero emissions target. Walsh said IATA is not ready to abandon the goal. "I certainly believe it's more challenging to achieve net zero in 2050 because we've not made the progress that we had expected to see on the development of sustainable fuels," he said.
Singapore has long positioned its multicultural model as foundational to its stability and identity
โWe will bring 500 of the worldโs most renowned companies to Future Cityโ
Police suspect murder could be linked to dispute over ownership of trust which manages Math and position of Mahant.
BJP created 'shadow TMC' to weaken Opposition in state: Bengal Congress chief
The ruling alliance has to ensure that the opposition party does not stage a comeback in 2029 in public interest and keeping its detrimental effect in view, asserts the TDP national president
Warning that the issue had implications for Opposition unity, CPI-Mโs M.A. Baby says the Congress leadership must โclear the airโ on what he termed โdisruptive movesโ before the June 8 INDIA bloc meeting
KL Rahul's patient century and Sai Sudharsan's fluent 81 guided India to a strong position on Day 1 of the one-off Test against Afghanistan. Both batsmen successfully transitioned from T20 to Test cricket, overcoming initial rustiness and justifying the team management's faith. Their partnership laid a solid foundation for India's dominance.
For nearly a decade, India's carmakers chased the sport utility vehicle (SUV) dream.Higher margins, aspirational buyers and a growing appetite for larger vehicles pushed manufacturers to flood showrooms with sport utility vehicles and compact SUVs, steadily relegating hatchbacks โ once the backbone of India's passenger vehicle market โ to the sidelines.Also Read: Tata Motors PV launches next-gen Tiago from Rs 4.69 lakh, Tiago.ev from Rs 6.99 lakh with lifetime battery warrantyThe strategy worked. Utility vehicles now account for well over half of all passenger vehicle sales in India and contributed nearly two-thirds of the 4.3 million vehicles sold in FY25.But as economic pressures mount, vehicle prices climb and first-time buyers struggle to enter the market, India's biggest automakers are beginning to acknowledge a reality they may have overlooked: the country's next wave of growth could come from the very segment they left behind.From Maruti Suzuki's renewed commitment to entry-level cars to Tata Motors' ambitious reinvention of the Tiago, hatchbacks are once again finding themselves at the centre of boardroom conversations.Also Read: Small cars strike back: Maruti Suzuki bets on mass mobility while costs squeeze fourth quarter profitsAnd this time, carmakers are betting that small cars no longer have to feel small.The forgotten customerThe shift is being driven by a growing recognition that India's passenger vehicle market cannot rely indefinitely on premiumisation.While SUVs have transformed the industry's revenue mix, they have also pushed average vehicle prices steadily higher, making car ownership increasingly difficult for millions of households.Maruti Suzuki Chairman R. C. Bhargava recently signalled the company's intent to rebalance its portfolio."We are planning to develop both small cars and SUVs. The small car market is growing. India is a country where small cars have a long-term future," Bhargava said.The comments mark a notable shift in tone from an industry that spent years focusing on larger and more expensive vehicles.For Maruti, which built its dominance on models such as the Alto, WagonR and Swift, the renewed emphasis reflects confidence that affordability will remain central to India's mobility story."A large part of the populationโฆ need small cars" for basic mobility, Bhargava said.Industry analysts say the opportunity remains substantial."In the small cars segment, there is a much bigger conversion pool that carmakers can navigate. Hence, there is this renewed push towards small cars and that segment," said Hemal Thakkar, Senior Director, Crisil Intelligence."India is a price sensitive market and hence, small cars will stay and customers are looking for upgrades within vehicles. If carmakers can provide small cars with new features and upgrades, then there will be more customers for the small car space," he added.Making hatchbacks aspirational againIf Maruti is signalling a strategic return to small cars, Tata Motors is attempting something more ambitious โ making hatchbacks desirable again.The company this week unveiled the next-generation Tiago and Tiago.ev, positioning them as technology-rich products aimed at reviving a segment many in the industry had effectively written off."Hatchbacks remain the gateway to personal mobility for millions of Indian families and yet, for far too long, this segment received scarce attention from the industry, when it genuinely deserved far more," said Shailesh Chandra, Managing Director and CEO, Tata Motors Passenger Vehicles.Calling the new Tiago "not an evolution but a full reinvention", Chandra said the vehicle brings substantially upgraded design, connected technologies and safety features that were once largely reserved for more expensive categories.The next-generation Tiago gets a 10.25-inch touchscreen infotainment system, wireless smartphone connectivity, a dual-screen dashboard, wireless charging and a segment-first 360-degree surround-view camera."The feeling of wow shouldn't be reserved for expensive cars," Chandra said."Today hatchback customers want far more than mobility, they want design, tech, safety and pride of ownership. A car they want to flaunt."The company has also positioned the Tiago.ev as an affordable electric mobility option, offering a lifetime battery warranty and fast-charging capability that can add up to 100 kilometres of range in 18 minutes."Tiago will make EV more accessible," Chandra said.Why affordability is back in focusThe renewed interest in hatchbacks comes as affordability re-emerges as a key concern across the industry.Vehicle prices have risen sharply in recent years because of stricter regulations, higher commodity costs and the addition of new safety and technology features.That has increasingly pushed first-time buyers out of the market.According to Srikumar Krishnamurthy, Senior Vice President and Co-Group Head, Corporate Ratings, ICRA Limited, hatchbacks continue to play a critical role in expanding the customer base."Hatchbacks remain a preferred segment, particularly for first-time buyers and households seeking a second vehicle, as affordability and comfort are key purchase considerations," he said."From an original equipment perspective, a presence across segments also helps improve reach, especially in Tier 2/3 cities."Krishnamurthy added that rising vehicle costs are forcing manufacturers to revisit their entry-level offerings."With input costs rising and vehicle prices expected to increase further, affordability is becoming even more important, especially in the mass-market segment. In response, OEs are looking to reposition entry-level hatchbacks and compact SUVs through new launches and refreshed variants that offer a stronger value proposition to consumers."Beyond SUVsThe industry's renewed focus on hatchbacks does not mean SUVs are going away.Far from it.Utility vehicles remain India's dominant passenger vehicle category and continue to drive growth and profitability for manufacturers.What is changing, however, is the recognition that growth cannot come solely from moving customers up the value chain.To sustain volumes, carmakers need to bring new buyers into the market.That is especially important as India adds millions of young consumers entering the workforce, many of whom are seeking their first personal vehicle but remain highly sensitive to price.Affordable electric hatchbacks could further strengthen the segment's appeal in coming years."Affordable EV hatchbacks could become an attractive proposition as charging infrastructure improves, range-anxiety concerns ease, and the financing environment becomes more supportive," Krishnamurthy said.For much of the past decade, India's hatchbacks were treated as yesterday's story while SUVs became the industry's obsession.Now, as automakers search for their next growth engine, the segment that once put millions of Indians behind the wheel is beginning to look relevant again.The future of India's auto market may still be taller, bolder and SUV-shaped. But increasingly, carmakers are recognising that the road to scale may once again begin with a hatchback.
Barely a month after a crushing assembly defeat, Mamata Banerjee's Trinamool Congress faces its biggest test as a rebellion threatens to split the party. Fifty-eight of its 80 MLAs have rallied behind expelled leader Ritabrata Banerjee, who has been recognized as leader of the opposition, challenging the party's direction and Mamata's leadership.
AIADMK faces continued exodus as former ministers Udumalai K Radhakrishnan, Kadambur C Raju, and M C Sampath defect to the ruling TVK. This move, along with their supporters, further weakens the AIADMK's organizational strength in key regions. More opposition leaders are anticipated to join TVK soon.
In an intriguing development, a CNN report has surfaced, suggesting that Israel has allegedly set up a series of military outposts encircling Iran. These installations reportedly include specialized forces and drone contingents positioned near Azerbaijan's border.
Rebel TMC MLA Ritabrata Banerjee, who became the Leader of Opposition in the Assembly on Wednesday, claimed that support for the rebel group would continue to grow.
As TMC battles a virtual split, sources told News18 that Team Ritabrata may now move to challenge Abhishek Banerjeeโs position in the Lok Sabha.
The instruments at Jantar Mantar were once used to observe celestial movements, measure time, track the sunโs position, and refine astronomical calendars.
Wall Street's nine-week winning streak ended with a thud on Friday, as red-hot technology stocks suffered their largest โdaily decline this year after a hot May jobs report fueled fears of a hawkish policy pivot from the U.S. Federal Reserve.Selling was concentrated among chip stocks and other technology favorites that have surged higher in recent weeks as the Nasdaq Composite Index and S&P 500 rose repeatedly to fresh highs.All three major U.S. stock indexes closed sharply lower, with โplunging chip stocks โ dragging the โ tech-laden Nasdaq down by its largest one-day percentage loss since last year.The S&P 500 ended its nine-week run of Friday-to-Friday gains, its longest weekly winning streak since one that ended in December โ2023."After the record run we've seen the last nine weeks in equities, specifically tech and semiconductors, the dam just broke today," said Ryan Detrick, chief market strategist โat Carson Group in Omaha. "Obviously, the stronger-than-expected jobs report puts the Fed in a tough spot regarding any interest rate cut for the rest of the year. And the market is throwing a fit by hitting the big winners so far this year."Rising interest rates and the Iran war weighed on โsentiment heading into the weekend, but many investors said they expected tech stocks to continue rallying."The market โ reaction today โwas more driven by positioning rather than fundamentals," said Ohsung Kwon, chief equity strategist at Wells Fargo. "The semiconductor sector was โway overbought. That's why we're โseeing the selloff. I don't think it's the end of the semi bull market." The U.S. economy added 172,000 jobs โ in May, according to the Labor Department, more than double analyst expectations, while the unemployment rate โheld firm at 4.3%. The robust report was double-edged: it provided reassurance of U.S. economic health, but โall but killed any hopes of an interest rate cut from the Fed in the near future.Financial markets are pricing in a growing likelihood of a rate hike at the conclusion of the Fed's December meeting, according to CME's FedWatch tool.Fading hopes for a near-term resolution to the Middle East war and reopening the Strait of Hormuz are stirring fears that energy price pressures could morph into wider, systemic inflation. Iran reaffirmed its support for Hezbollah and demanded that Israel withdraw its troops from southern Lebanon, further complicating efforts to secure a near-term peace deal that would include the resumption of traffic through the โcrucial strait. U.S. President Donald Trump's administration has negotiated three truces, and while fighting has been greatly reduced, the two sides continue to trade airstrikes.According to preliminary data, the S&P 500 lost 199.64 points, or 2.63%, to end at 7,384.67 points, โwhile the Nasdaq Composite lost โ1,117.38 points, or 4.16%, to 25,713.58. The โ Dow Jones Industrial Average fell 684.53 points, or 1.33%, to 50,877.40.Nvidia, the largest company by market value, fell sharply, as did smaller rivals Intel, Micron, AMD and Broadcom. Lululemon Athletica slumped after the athletic apparel maker cut its annual profit forecast and projected second-quarter earnings well below Wall Street estimates. Cooper Companies rose โafter the contact lens maker beat estimates for second-quarter results.Cryptocurrency firms Coinbase and Strategy were pulled lower by bitcoin's sharp drop. S&P Global said it would not change the eligibility requirements for its major indices, which effectively rules out a swift entry for Elon Musk's SpaceX to the benchmark S&P 500 after it goes public in what would be the world's biggest initial public offering.S&P Dow Jones Indices will announce the results following its rebalancing after markets close. Chipmaker Marvell Technology, which boasts over $270 billion in valuation, is among the contenders to be added to the benchmark index.
West Bengal is in the grip of a toxic political culture
With the Stateโs current financial position, the government will not be able to turn the health sector around single-handedly, says Health Minister. It will be ensured that private participation does not translate into additional health-care expenses for the public, he adds
The TMC is rattled by a rebellion after 58 MLAs staked claim to become the principal Opposition party in Bengal, vertically splitting the party.