Indian refiners are increasing their purchases of US crude oil in August due to competitive pricing, potentially reducing the trade imbalance with the US amidst diplomatic tensions. Despite US tariffs, India remains committed to its strategic autonomy in procuring Russian crude, with plans to further increase Russian oil imports in September.
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A 39-year-old man was arrested in Sydney after intentionally crashing his car into the Russian consulate on Monday morning. The incident occurred around 8 am, prompting a police response to reports of an unauthorized vehicle. During the arrest, a 24-year-old police officer sustained a hand injury and received on-site treatment.
The GST Council has approved a restructured indirect tax system, effective September 22nd, featuring simplified rates of 5% and 18%, with a 40% category for luxury and sin goods. This reform eliminates the 12% and 28% slabs, aiming to streamline tax administration.
For the first time this millennium, excluding the Covid period, Indian visits to the US declined in June 2025, dropping 8% to 2.1 lakh. This fall aligns with an overall decrease in international visitors to the US. While industry experts hesitate to attribute the decline solely to stricter visa policies, concerns are rising, particularly regarding student visas.
US tariffs on Indian goods, including penalties for Russian oil, could cost India $55-60 billion, impacting textiles, footwear, and jewelry sectors, according to Jefferies' Chris Wood. He believes the tariffs are triggered by Trump's frustration at being exclusion from India-Pakistan mediation and irritation over the Ukraine conflict.
A political controversy erupts. It involves Congress and BJP. Allegations of abuse target Prime Minister Narendra Modi. The incident occurred during a rally in Darbhanga. Amit Shah demands an apology from Rahul Gandhi. Rahul Gandhi speaks of truth prevailing. Congress claims BJP agents made the remarks. Clashes between party workers break out in Patna. Nitish Kumar condemns the language used.
Aakash Chopra questioned Virat Kohli and Rohit Sharma's decisions to retire from Test cricket while continuing in ODIs, suggesting they could aim for the 2027 World Cup. He felt their reduced game time is a concern and believed Kohli's legacy will be judged on batting records, noting the absence of ICC trophies under his captaincy.
Bihar is on high alert following intelligence reports of three Pakistani Jaish-e-Mohammed terrorists entering the state via the Nepal border. Security has been heightened in seven border districts, with vehicle checks and surveillance intensified. The alert coincides with Rahul Gandhi's 'Voter Adhikar Yatra,' leading to increased security measures, including a closed vehicle and cancelled roadshow stops.
India and Japan have launched an Economic Security Initiative, focusing on supply chain resilience and collaboration in sectors like semiconductors and clean energy. The countries are also strengthening ties through the Japan-India Artificial Intelligence Initiative, aiming to enhance cooperation in AI technologies. Both nations plan to increase people-to-people exchanges and foster business collaboration.
Prime Minister Narendra Modi is likely to visit Mizoram and Manipur on September 13, as officials said, marking his first visit to Manipur since ethnic tensions escalated in May 2023. In Mizoram, he is expected to inaugurate a railway line connecting Aizawl with Silchar, Assam, as part of the Act East Policy.
Dr. Urjit Patel, former RBI governor, has been appointed as Executive Director at the International Monetary Fund for a three-year term, following central government approval. Patel previously served as the 24th RBI governor and also held the position of deputy governor, overseeing key areas such as monetary policy and economic research.