Weekly News Platter
The Economic Times

Weekly News Platter

16 May, 2026, 05:29PM IST, PTI
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In case you had a busy week, these are the top stories you need to get caught up to speed...
Government tightens rules for duty-free gold imports, caps quantity at 100 kg per licenceGovernment tightens rules for duty-free gold imports, caps quantity at 100 kg per licence
The Directorate General of Foreign Trade has introduced new rules for duty-free gold imports by gems and jewellery exporters. These measures include a 100 kg limit per licence and mandatory facility inspections for new applicants. Existing exporters must meet 50 percent of previous export obligations. Fortnightly performance reports are now required, enhancing oversight. Read more
Petrol Diesel Price Hike: Fuel prices raised by up to Rs 3/litrePetrol Diesel Price Hike: Fuel prices raised by up to Rs 3/litre
Petrol Diesel Price Increase: Fuel prices have risen nationwide. Petrol and diesel rates saw an increase of up to Rs 3 per litre. In Delhi, petrol now costs Rs 97.77 and diesel Rs 90.67. This adjustment by oil marketing companies reflects global crude oil market volatility. The hike will affect household budgets and transport costs, particularly in major cities. Read more
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India working on Rs 40,000 crore subsea gas pipeline project to help mitigate risks brought to fore by Hormuz blockadeIndia working on Rs 40,000 crore subsea gas pipeline project to help mitigate risks brought to fore by Hormuz blockade
India subsea gas pipeline project: India is accelerating plans for a direct deep-sea gas pipeline from Oman, estimated at ₹40,000 crore, to ensure uninterrupted supplies amid Strait of Hormuz disruptions. This move aims to enhance energy security and cost-competitiveness, addressing India's vulnerability to LNG price volatility and supply shocks. Read more
NEET-UG 2026 re-exam on June 21, test to shift to computer-based mode from 2027: Education minister Dharmendra PradhanNEET-UG 2026 re-exam on June 21, test to shift to computer-based mode from 2027: Education minister Dharmendra Pradhan
Exams likely to be held in 20 sessions over 10 days from next yr, with normalisation cycles for the test format Read more
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Air India weighed down by external shocks: Singapore Air CEOAir India weighed down by external shocks: Singapore Air CEO
Air India's losses have significantly impacted Singapore Airlines' annual profit. Geopolitical issues, airspace closures, and currency fluctuations are cited as key reasons. Despite these challenges, Singapore Airlines remains committed to Air India's long-term turnaround. The airline is a core part of its multi-hub strategy. Support for the transformation continues alongside Tata Sons. Read more
Tata Trusts board meeting blocked amid inquiry into trustee violationsTata Trusts board meeting blocked amid inquiry into trustee violations
The Maharashtra Charity Commissioner has intervened dramatically by halting the Tata Trusts' board meeting, a response prompted by fresh allegations of transgressions against the Maharashtra Public Trusts Act. With a probe now initiated into the structure of the Sir Ratan Tata Trust board, all future meetings face postponement until an inspector’s report is on hand. Read more
Monsoon to arrive in Kerala on May 26, six days early; IMD forecasts below-normal rainfall for 2026Monsoon to arrive in Kerala on May 26, six days early; IMD forecasts below-normal rainfall for 2026
The monsoon is expected to arrive in Kerala on May 26, six days earlier than usual. This early onset is significant as it precedes sowing for key kharif crops. Farmers are preparing for the rainy season. The India Meteorological Department forecasts below-normal rainfall for 2026 due to El Nino concerns. Heatwave conditions persist in northwest and central India. Read more
PM Modi dismisses media report on possible tax on foreign travel as ‘totally false’PM Modi dismisses media report on possible tax on foreign travel as ‘totally false’
Prime Minister Narendra Modi has strongly refuted media reports suggesting a new tax on foreign travel. He stated there is absolutely no truth to claims of discussions about imposing a cess or surcharge. The Prime Minister emphasized the government's commitment to enhancing ease of doing business and ease of living for citizens. Read more
Adani settles SEC case, criminal charges set to be dropped — a 17-month legal battle winds downAdani settles SEC case, criminal charges set to be dropped — a 17-month legal battle winds down
Gautam Adani and his nephew Sagar will pay $18 million to settle US Securities and Exchange Commission charges. The Adani Group faces allegations of false statements regarding Adani Green Energy Ltd. This settlement could pave the way for the conglomerate's return to international markets. The Justice Department is also moving to drop fraud charges against Gautam Adani. Read more
Amul, Mother Dairy hike milk prices by ₹2 per litre; new rates effective May 14Amul, Mother Dairy hike milk prices by ₹2 per litre; new rates effective May 14
Leading dairy brands Amul and Mother Dairy will raise milk prices by ₹2 per litre starting May 14. This price adjustment affects various milk variants. The increase is attributed to higher costs for cattle feed, packaging, and fuel. Farmers' procurement prices have also seen an upward revision. Read more
US Visa Bulletin June 2026: Green card backlog worsens as EB-1, EB-2 dates move backward for IndiansUS Visa Bulletin June 2026: Green card backlog worsens as EB-1, EB-2 dates move backward for Indians
The June 2026 Visa Bulletin reveals significant setbacks for Indian applicants in employment-based green card categories, with EB-1 and EB-2 final action dates retrogressing due to high demand. The State Department warns of further delays or unavailability if annual visa limits are reached, impacting the EB-5 unreserved category as well. Read more
Sunil Bharti Mittal announces succession plan: Meet the GenNextSunil Bharti Mittal announces succession plan: Meet the GenNext
Airtel founder Sunil Bharti Mittal is preparing for a leadership change over the next ten years. His three children, Kavin, Shravin, and Eiesha, have established their own professional paths. Kavin is a tech entrepreneur, Shravin is an investor and dealmaker, and Eiesha focuses on lifestyle ventures. This signals a new chapter for the Bharti group. Read more
Breaking Bad? Chemistry lecturer from Pune named as alleged NEET-UG 2026 leak kingpinBreaking Bad? Chemistry lecturer from Pune named as alleged NEET-UG 2026 leak kingpin
The CBI has identified P.V. Kulkarni as the alleged kingpin behind the NEET-UG 2026 exam paper leak. Kulkarni, a chemistry lecturer, is accused of leaking questions to students through special coaching sessions. The agency has arrested seven individuals in connection with the leak. Investigations are ongoing to uncover the full extent of the conspiracy. Read more
After mass layoffs, Oracle pulls campus offers at IITs & NITsAfter mass layoffs, Oracle pulls campus offers at IITs & NITs
US tech giant Oracle has rescinded dozens of job offers extended to students at premier Indian engineering institutes, including IITs and NITs. This development, impacting both full-time and internship roles, has caused major anxiety among students as the placement season nears its end amidst a slow tech hiring market. Read more
Agricultural trade, jet deals, Taiwan tensions: What are the big takeaways as Trump jets out of Beijing after Xi talks?Agricultural trade, jet deals, Taiwan tensions: What are the big takeaways as Trump jets out of Beijing after Xi talks?
President Donald Trump concluded a visit to Beijing with trade deals. China will buy billions in US soybeans and 200 Boeing aircraft. Discussions also touched upon Taiwan and US sanctions on Chinese refiners. Trump will decide on easing these sanctions soon. The visit aimed to boost US manufacturing and jobs. Read more
Government gives final nod to Emirates NBD's $3 billion majority stake in RBL BankGovernment gives final nod to Emirates NBD's $3 billion majority stake in RBL Bank
Dubai's Emirates NBD has secured all necessary approvals for its significant investment in RBL Bank. This landmark deal, valued at approximately $3 billion, will see Emirates NBD acquire a majority controlling stake. The transaction is set to be completed soon. RBL Bank will operate as a foreign bank subsidiary. This marks a major cross-border investment in India's financial sector. Read more
Work From Home Advisory: From UP, Delhi to Maharashtra, check all announcements by statesWork From Home Advisory: From UP, Delhi to Maharashtra, check all announcements by states
WFH News: Following Prime Minister Modi's call for fuel conservation, several Indian states have implemented austerity measures. Governments are cutting official vehicle use, shrinking VIP convoys, and promoting work-from-home and public transport. These initiatives aim to reduce unnecessary spending and conserve resources amid global uncertainty. Read more
Dhurandhar 2 OTT release finally confirmed: Ranveer Singh, R Madhavan starrer to stream on JioHotstar on this dateDhurandhar 2 OTT release finally confirmed: Ranveer Singh, R Madhavan starrer to stream on JioHotstar on this date
Dhurandhar 2 OTT release date: The Ranveer Singh starrer will stream on JioHotstar from June 4, 2026. A special 30-minute pre-show will offer behind-the-scenes content. The film will be available in its original, unfiltered form. This spy-action thriller is directed by Aditya Dhar and features R. Madhavan and Arjun Rampal. JioHotstar aims for an immersive digital premiere experience. Read more
Congress names veteran VD Satheesan as its Chief Minister pick in KeralaCongress names veteran VD Satheesan as its Chief Minister pick in Kerala
The United Democratic Front (UDF) has selected VD Satheesan as its Chief Minister candidate for Kerala. This decision follows a significant victory over the Left Democratic Front (LDF). The UDF secured a substantial majority in the Assembly elections. Read more
Pakistan is shaping up an idea that can worry IndiaPakistan is shaping up an idea that can worry India
Pakistan is pushing a proposed “Islamic NATO” with Saudi Arabia, Qatar, Turkey and Pakistan, aiming to build a regional defence bloc that reduces reliance on external powers. If it takes shape, it could reshape West Asian security dynamics and add fresh strategic concerns for India, particularly due to Pakistan’s central role. Read more

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