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US seismologist has been detained in China for nearly 2 years without trial: Family

A Chinese-born American seismologist faces spying charges in China. Youlin Chen has been detained for nearly two years, according to his wife. US officials have designated his detention as wrongful and a top priority. China denies any wrongful detention and states its judicial organs follow law. The case adds tension to the ongoing relationship between the two nuclear-armed nations.

IBM shares tank 26% after initial results disappoint

International Business Machines reported disappointing preliminary results on Tuesday. This news caused significant drops in software and IT services company shares. Investors are now concerned about a capital spending pivot impacting the entire industry. Many software stocks experienced notable declines following IBM's announcement. The sector has faced pressure this year amid artificial intelligence proliferation concerns.

Air transport down 14% in April: ISP data

Air transport output contracted nearly fourteen percent in April, reflecting high fuel costs. Railways also saw a slight decline in output during the same month. Fourteen of nineteen services sub-sectors registered double-digit growth, showing overall resilience. Food and accommodation recorded the highest growth, followed by retail trade. Administrative and support services, real estate, and telecom also performed strongly.

Oil price today: Crude tops $85 a barrel as US restores Strait of Hormuz blockade

Oil prices surged beyond eighty-five dollars per barrel on Wednesday. This occurred after the United States reinstated a naval blockade on Iran. Fighting between Washington and Tehran escalated, raising concerns over crude supplies. The United Arab Emirates reported Iranian cruise missile attacks on oil tankers. American forces continued strikes on Iranian military targets across the region.

Singapore court denies stay on Byju's jail term

Singapore's high court denied Byju Raveendran's request to suspend his contempt sentence. The court lifted temporary protection for the Byju's founder while his appeal is pending. His legal team clarified the hearing focused only on the stay application. The substantive appeal against the contempt finding is yet to be heard. The contempt sentence remains in force unless the appellate court grants interim relief.

NCLT okays record no. of cases, flags manpower shortage

The National Company Law Tribunal approved a record 78 resolution plans in April-June. This period saw approvals valued at Rs 5,518 crore, reaching nearly Rs 4.8 lakh crore total. The tribunal faces significant institutional capacity constraints and member vacancies. Current functioning is impacted by 11 unfilled judicial and technical member positions. No new member appointments have occurred since January 2025.

England recall Brydon Carse for final two ODIs against India after defeat at Edgbaston

Brydon Carse has rejoined England's ODI squad after recovering from his injuries. India ended England's long winning streak at Edgbaston with a six-wicket victory. Joe Root scored seventy-six runs, and Liam Dawson added sixty-eight for England. Shubman Gill made eighty runs, retiring hurt, while Axar Patel took four wickets. Axar Patel and Washington Sundar secured the win with an unbeaten partnership.

Wholesale inflation touches 27-month high of 9.9% in June

Wholesale inflation reached a 27-month high of 9.9 percent in June. This surge was driven by rising food prices and energy costs. Food prices accelerated to 5.5 percent while mineral prices rose significantly. Fuel prices decelerated slightly to 27.4 percent due to oil market corrections. Recent West Asia flare-ups and El Nino risks add to price volatility.

With 73% rise, Adani Properties top realty gainer

Adani Properties saw significant wealth surge, moving to fourth position on the property list. DLF retained its top valuation despite a notable decline in its overall worth. Lodha Developers and Indian Hotels Company also experienced valuation decreases this year. The Indian real estate sector showed minimal growth, with a 2% cumulative value increase. Mumbai leads the nation's real estate map with the highest number of companies.

Raising bank stakes gets easier for DIIs

The Reserve Bank of India has proposed changes to bank shareholding norms. These amendments aim to ease investment by domestic institutional investors. Governance rules will also be revised for bank boards to focus on strategy. The central bank seeks to refine acquisition norms for portfolio managers and clients. Qualifying persons like mutual funds will receive a one-time approval mechanism.

Led by NRI deposits, RBI swaps may draw $80-85 billion

Bankers anticipate India will attract eighty to eighty-five billion dollars through RBI's swap-backed initiatives. Early inflows are expected from FCNR(B) deposits, which are already seeing traction. Public sector undertakings and banks are adopting a wait-and-watch approach on other issuances. These large inflows can provide support to the rupee amid global turmoil. The RBI is supporting mobilization through a real-time monitoring framework.

IDBI stake sale back on table, government keen to speed up process

Government is accelerating the IDBI Bank stake sale process. Two bidders, Fairfax and Emirates NDB, are being considered. This follows the rejection of earlier bids below the reserve price. Recent foreign investments in Indian banking include Yes Bank and RBL Bank. Mitsubishi UFJ Financial Group also made a significant investment in Shriram Finance.

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