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AI no longer a speculative technology but an operational reality: CJI Surya Kant

CJI Kant said AI is reshaping governance, commerce, warfare, communication, public administration, and the exercise of judicial and sovereign power itself

Big Boost: Government Bond Returns Now Tax-Free For Foreign Investors

Returns earned by foreign investors from investments in Indian sovereign bonds will become tax-free.

Europe raises 'Kill Switch' fears, makes all 27 countries to junk US, Chinese tech

Europe is forging ahead with ambitious plans to break free from reliance on US and Chinese technology, particularly in critical sectors like AI and microchips. New regulations aim to bolster "tech sovereignty" by ensuring sensitive data remains within the EU and boosting domestic semiconductor production, safeguarding against foreign digital threats and supply chain disruptions.

Reliance traders said to game plan in case RBI raises rates

Traders in Reliance Industries Ltd.’s treasury department are strategizing over where to park the company’s cash in case the Reserve Bank of India starts raising interest rates in the coming months.One proposal involves moving Reliance’s cash holdings from liquid mutual funds into short-dated money market instruments, people aware of the conglomerate’s thinking said. The switch may pay off because the yield spread between money-market papers and the benchmark rate has widened beyond its five-year average and is likely to narrow in the coming months, resulting in capital gains, the people said, asking not to be named as the information is private. Markets are currently expecting about 50 basis points of rate hikes this year, they said.Traders also mulled reducing allocation to longer-dated bonds, which tend to be more sensitive to interest-rate changes, the people said.The strategy discussion cited market expectations and the conglomerate didn’t take an explicit view on interest rates. Treasury departments typically consider a range of market scenarios when evaluating trading strategies.“We categorically deny the information you have provided in your email regarding our opinion on interest rates and the behaviour of the rupee,” a Reliance spokesperson said by email.131502003India's Overnight Swaps Reflect RBI Rate HikesThe view carries weight because Reliance runs one of the largest corporate treasuries in India. The discussion also come ahead of the Reserve Bank of India’s rate decision on Friday, where the central bank is expected to announce measures to support the rupee.While most economists — 29 out of 35 — surveyed by Bloomberg News expect the authority to keep the benchmark rate unchanged, they see the RBI adopting a hawkish stance to prepare markets for potential rate hikes later this year amid inflation pressures triggered by an oil price shock.India’s sovereign bond yields have remained broadly stable this quarter even as the rupee has slid to record lows. The currency has recovered in recent days, helped by RBI intervention and optimism that a US and Iran agreement may lead to the reopening of the Strait of Hormuz, a vital route for the country’s energy imports.The rupee is down 6% this year and recently approached a record low of 97 per dollar. It has been hovering around 95-96 levels in recent days.Reliance’s traders expect the rupee to strengthen if a Middle East peace deal is reached and if the RBI takes measures to attract capital inflows, one of the people said. They have proposed that the owner of world’s largest oil-refining complex partly hedge its long-term forward contract positions as well as coupon payments dues in fiscal year starting March 2028, the person said.

In sovereignty case, personal liberty takes back seat: SC

The Supreme Court emphasized that national sovereignty outweighs personal liberty, especially in cases involving threats to the nation, such as drug trafficking. The court highlighted inconsistent application of prolonged incarceration as grounds for bail, leading to disparate outcomes for similarly situated individuals.

Bernie Sanders to Americans: AI companies stole your data, you should own 50% stocks

Senator Bernie Sanders has introduced the American AI Sovereign Wealth Fund Act, proposing a one-time 50% tax on the stock of major AI firms. This aims to transfer control from Silicon Valley billionaires to the American public, arguing AI was built on 'stolen' data. The fund would grant public voting shares and eventually distribute dividends.

Ola Electric opens QIP, sets floor price at Rs 37.74/share

Bengaluru: Electric vehicle maker Ola Electric Mobility on Monday approved the opening of its qualified institutional placement (QIP) and set a floor price of ₹37.74 per equity share for the issue, according to a stock exchange filing.The company's fund raising committee approved the launch of the issue on June 1 and cleared the preliminary placement document for institutional investors. The company may also offer a discount of up to 5% on the floor price in line with Sebi regulations, the filings read.QIP is a way for listed companies to raise money from large institutional investors such as mutual funds, insurance firms, sovereign funds and foreign portfolio investors, without going through a public issue process.The fundraising comes at a time when Ola Electric is navigating slowing sales, market share pressures and continued losses in the electric two-wheeler market. The company on May 14 also announced ₹2,000 crore investment into its wholly-owned subsidiaries focused on electric vehicle and battery manufacturing, as it looks to double down on localisation and vertical integration.Ola reported a consolidated net loss of Rs 500 crore for the fourth quarter ended March 2026, narrowing 42.5% from Rs 870 crore in the year-ago period, aided by lower expenses. In Q3, the company had reported a loss of Rs 487 crore. For the full 2026 financial year, the company posted a consolidated net loss of Rs 1,833 crore compared with Rs 2,276 crore in FY25. Revenue from operations fell sharply to Rs 2,253 crore from Rs 4,514 crore a year ago. Brokerages have also flagged concerns around market share erosion and cash burn. Citi earlier downgraded the stock to and cut its target price, citing persistent challenges to volume growth and rising balance sheet pressures. The company recently reported a recovery in registrations, with May registrations rising to 14,752 units. Ola said the issue price will be determined in consultation with the book running lead managers. “For Q1 FY27, we expect 40,000- 45,000 orders and consolidated revenue of Rs 500-550 crore, nearly double Q4 levels. As volumes recover, we expect the auto business to move towards adjusted operating EBITDA and free cash flow positivity through FY27,” Aggarwal said in its shareholder’s letter. The company’s focus remains on its EV products, particularly electric motorcycles and cell manufacturing, he added. Ola’s shares on Monday closed at Rs 39.53 on BSE, 4.91% lower compared to previous trading session. The QIP announcement was made post market hours.

Won’t allow territory to be used against India: Myanmar president

India and Myanmar have strengthened ties, with President U Min Aung Hlaing assuring New Delhi that Myanmar's territory won't be used against India's security. Discussions focused on trade, border security, and defence cooperation. India reiterated its commitment to Myanmar's sovereignty and territorial integrity, emphasizing the need for peace and inclusion in the country's ongoing peace process.

Check Sovereign Gold Bond June 2026 calendar

Tamil Nadu government gives sovereign guarantee for temple funds deposited in power finance corporation

Says, the finance corporation’s borrower TANGEDCO too has demonstrated a consistent and proven track record of timely servicing of its financial obligations

"Never Ever": North Korea Rejects Denuclearisation Push By Quad Nations

North Korea's foreign ministry also accused the Quad of interfering in Pyongyang's sovereign affairs

Rahul Gandhi takes dig at PM Modi on Norway pension fund dropping Adani shares from portfolio

In February 2026, Norway’s $1.2 trillion sovereign wealth fund, the world's largest, decided to exclude Adani Green Energy Ltd. from its portfolio due to concern about its alleged links to financial crime