The Union Cabinet, led by Narendra Modi, has reportedly approved an ordinance to amend the Income Tax Act and eliminate capital gains tax on investments made by foreign portfolio investors in Indian government securities, pending Presidential approval. The move aims to attract foreign capital, strengthen forex inflows and cushion the economy from uncertainties linked to the Iran conflict. Currently, foreign investors pay 12.5% long-term capital gains tax on eligible assets and a 20% withholding tax on government bond interest. The decision follows significant foreign outflows from Indian markets and comes amid indications that additional measures may be introduced to boost investment and market confidence. (PC: NDTV)

A major fire broke out at a hospital in Muzaffarpur, Bihar, killing three people and injuring more than 20 others. The blaze reportedly started in the Intensive Care Unit (ICU) on the fifth floor, with preliminary reports suggesting a short circuit as the possible cause. Thick smoke rapidly spread through the building, triggering panic among patients, attendants and staff. Emergency teams launched a rescue operation and evacuated over 20 patients, several of whom remain in critical condition. Authorities shifted critically ill patients to nearby hospitals for treatment. The Civil Surgeon and local officials reached the site to supervise relief efforts as investigations continue into the exact cause.

At least 21 people, including 12 foreign nationals and 9 Indians, were killed in a devastating fire at the six-storey Flourish Stay B&B in Delhi’s Hauz Rani area. More than 40 people were rescued as thick smoke engulfed the building, prompting several occupants to jump from upper floors. Preliminary findings suggest the fire originated in a ground-floor restaurant. The guest house allegedly had only one exit, raising serious fire safety concerns. Hotel owner Lavkesh Bajaj has been arrested. The tragedy is Delhi’s deadliest fire since the 2022 Mundka blaze. Authorities have ordered citywide fire safety inspections and announced a review of all establishments operating under Delhi's B&B policy.

A 33-year-old Indian-origin man, Tarsem Singh, faces multiple felony charges and possible deportation after a fatal crash in Ohio that killed his 17-year-old pregnant girlfriend, Ashlee Holmes, and her unborn child. Authorities allege Singh attempted to flee law enforcement on February 16, leading deputies on a high-speed chase that reached over 120 mph before his Range Rover Velar lost control and collided with a Jeep. Holmes was ejected from the vehicle and died from her injuries. US Immigration and Customs Enforcement has lodged a detainer against Singh. Investigators say he entered the United States illegally in 2017 and was later released on bond. (PC: X)

An Indian national was killed and at least 63 people were injured after an Iranian missile and drone attack struck Kuwait International Airport amid escalating Gulf tensions. The Indian Embassy confirmed the death, while Kuwait temporarily suspended flights following damage to airport facilities. India condemned the attack, reiterating that civilians and civilian infrastructure must not be targeted during conflicts. The strike comes amid renewed hostilities involving Iran, the United States, Bahrain and regional actors despite a fragile ceasefire agreed in April. Oil prices rose as uncertainty persisted around the strategically vital Strait of Hormuz. Diplomatic efforts continue, but ongoing military actions threaten regional stability, global energy supplies and international shipping routes.

Delhi Police have arrested Lavkesh Bajaj, owner of the building that housed the Flourish Stay guest house in Malviya Nagar, where a fire killed 21 people on Wednesday. An FIR has been registered under charges including culpable homicide.   Investigators allege the property was operating without a mandatory fire NOC and was violating several safety norms. Officials said the building had a single entry-exit point, sealed windows and a sensor-operated main door, which may have hampered evacuation during the fire.   Police also suspect the guest house exceeded its approved capacity, allegedly running around 25 rooms despite permission for only six. Authorities have launched a wider inspection drive across Delhi to identify similar safety violations. (PC: HT)

Eight members of a Gurugram family were among the 21 people killed in the devastating fire at Delhi's Flourish Stay hotel in Malviya Nagar on Wednesday. Vivek Agarwal, a chartered accountant, had travelled to Delhi with his wife, two daughters and four relatives to visit his ailing father, who is undergoing treatment at a hospital in the capital.   The family was having breakfast at the hotel when the fire broke out. All eight died in the tragedy, leaving Vivek's 80-year-old father as the only immediate survivor.   Authorities said the fire spread rapidly through the five-storey building. Investigators are examining possible safety violations, including reports that the hotel was operating far more rooms than permitted under its licence. (PC: NDTV)

At least 9 people were killed in southern Lebanon on Wednesday as Israeli air strikes continued despite a partial ceasefire agreement. Lebanese authorities said the victims included two paramedics whose ambulance was hit in the Chehour area, while several other strikes targeted locations near Tyre and Nabatieh.   Hezbollah said it launched rockets into northern Israel in response to what it called Israeli violations of the ceasefire. The Israeli military said it intercepted a drone and two projectiles crossing the border.   The violence has raised concerns over the fragile truce announced earlier this week. Meanwhile, Israeli and Lebanese officials continued talks in Washington aimed at strengthening the ceasefire and preventing a wider regional escalation involving Iran and the United States.  

India's T20I team could be headed for a major transition, with reports claiming that Suryakumar Yadav is likely to lose the captaincy and may also be dropped from the squad. According to The Indian Express, the BCCI selection committee and head coach Gautam Gambhir have decided to move towards a younger leadership group despite India's recent T20 World Cup triumph under Suryakumar.   The report says concerns over the 35-year-old's form and long-term future influenced the decision. His omission from India's 30-member probable squad for the Asian Games has further fuelled speculation.   Suryakumar struggled for consistency during the T20 World Cup and IPL 2026. He scored 270 runs in 13 matches for Mumbai Indians as the franchise finished ninth, raising questions about his place in India's future T20 plans. (PC: HT)

US President Donald Trump has confirmed that he called Israeli Prime Minister Benjamin Netanyahu "f***ing crazy" during a heated phone conversation over Israel's military operations in Lebanon.   Speaking on a podcast, Trump said he was "perturbed" by the continued fighting and urged Netanyahu to stop military actions that were complicating US diplomatic efforts with Iran. The exchange reportedly came as Washington sought to keep fragile nuclear talks with Tehran on track.   According to reports, Trump warned that Israel's attacks risked increasing the country's international isolation. Despite discussions on de-escalation, Israel and Hezbollah later exchanged fresh attacks, raising fears of a wider regional conflict.   Trump also defended recent US military action against Iran, saying Tehran must not be allowed to acquire nuclear weapons. (PC: India Today)