India is poised to become the next major driver of global steel demand, according to Lakshmi Mittal. Speaking ahead of the 20th anniversary of ArcelorMittal, Mittal said large-scale infrastructure expansion, rapid urbanisation and energy-transition investments could position India in a role similar to China’s over the past two decades. Reflecting on the 2006 merger of Mittal Steel and Arcelor, he said greater scale and diversification helped the company withstand major disruptions, including the global financial crisis and the Covid pandemic. Despite regulatory, environmental and market challenges, Mittal remains optimistic about steel’s future, citing strong long-term demand fundamentals worldwide. (PC: X)

US President Donald Trump and Iranian President Masoud Pezeshkian have digitally signed a 14-point memorandum of understanding aimed at ending hostilities, reopening the Strait of Hormuz and launching broader negotiations on sanctions and Iran’s nuclear programme. The agreement took effect immediately and includes a ceasefire framework, phased sanctions relief, release of frozen Iranian assets, renewed oil exports and a 60-day timeline for negotiating a comprehensive settlement. Iran reaffirmed that it would not develop nuclear weapons, while discussions on enriched uranium stockpiles will continue under international supervision. The deal also includes economic assistance and measures to ensure maritime security in the strategic waterway.

India has delivered five tonnes of essential medicines to Afghanistan as part of its ongoing humanitarian assistance programme, reaffirming its commitment to the welfare of the Afghan people. The aid was sent to Kabul and includes critical medical supplies intended to support the country’s healthcare sector. The Ministry of External Affairs stated that India remains focused on strengthening Afghanistan’s health infrastructure through medicines, medical equipment and specialised healthcare support. Earlier, India also provided diagnostic and treatment equipment, including neonatal and pediatric care devices, ventilators, patient monitors and specialised medical kits. The assistance aligns with India’s broader efforts to promote peace, stability, development and capacity-building initiatives in Afghanistan.

An 18-year-old Indian tourist, Romanch Mahajan, died after a horse-drawn carriage accident in Central Park during his family’s first trip to New York City. The incident occurred when the carriage horse reportedly bolted while the driver had stepped away to take a family photograph. As the carriage sped uncontrollably through the park, passengers were thrown from the vehicle. According to his father, Romanch jumped from the moving carriage to help his mother after she fell, suffering fatal head injuries. The tragedy has reignited debate over horse-drawn carriages in New York, with local officials and activists calling for stricter safety measures and renewed consideration of Ryder’s Law.

Prime Minister Narendra Modi raised concerns over the deaths of three Indian sailors during talks with US President Donald Trump on the sidelines of the G7 summit. Modi stressed that the safety and security of seafarers must be ensured in any agreement involving Iran, highlighting the risks faced by Indian maritime workers. The sailors were killed earlier this month when a US Navy strike hit the Palau-flagged tanker Settebello in the Gulf of Oman. Trump acknowledged the tragedy, calling maritime work a “rough profession” and expressing sympathy. The incident occurred amid escalating regional tensions and disruptions to commercial shipping routes.

US President Donald Trump assured India of American support in the event of an attack, saying the US would stand by India as long as Prime Minister Narendra Modi remains its leader. Speaking alongside Modi, Trump described US-India ties as strong and praised Modi as a tough negotiator who deeply cares for both India and the United States. He also said India plays a significant role in West Asia under Modi’s leadership. Addressing the deaths of three Indian sailors in a US strike, Trump expressed sympathy. Modi highlighted maritime security, stressing the importance of protecting Indian seafarers and ensuring freedom of navigation worldwide.

India and the United Kingdom will implement their Comprehensive Economic and Trade Agreement (CETA) on July 15. Prime Minister Narendra Modi called the deal a "historic milestone" in India-UK relations. The agreement is expected to boost trade, investment and business opportunities between the two countries. It will improve market access and reduce tariffs on several products. Modi said the deal would benefit farmers, workers, MSMEs, startups and innovators. The UK described it as one of its most important post-Brexit trade agreements. Officials from both countries believe the pact will strengthen economic cooperation and create new opportunities across many sectors. (PC: Getty Images)

Prime Minister Narendra Modi met Ukrainian President Volodymyr Zelenskyy on the sidelines of the G7 Summit in France. The two leaders discussed bilateral cooperation, trade and efforts to promote peace. Modi said India would "always be on the side of peace" and place humanity above everything else. He also stressed the need to restore trade relations to pre-war levels. Zelenskyy said Ukraine received important support commitments from G7 leaders, including help to strengthen air defence and energy security. He also said partner countries agreed to increase pressure on Russia through additional sanctions during the ongoing conflict.

India and the United Kingdom will implement their Free Trade Agreement on July 15, following talks between Prime Minister Narendra Modi and British Prime Minister Keir Starmer at the G7 Summit in France. The deal is expected to boost trade and investment between the two countries. Under the agreement, India will reduce tariffs on British whisky and automobiles, while the UK will lower tariffs on Indian exports such as clothing, footwear and food products. The agreement is estimated to be worth $6.5 billion. Both countries expect the deal to create new business opportunities and strengthen economic ties. (PC: AFP)

Aman Sanger and Sualeh Asif are set to become billionaires after Elon Musk's SpaceX agreed to acquire AI coding company Anysphere, the maker of Cursor, for $60 billion. Sanger, who has Indian roots, and Pakistan-born Asif each reportedly hold a 4.5% stake in the company. According to reports, both are expected to receive SpaceX shares worth about $2.7 billion. Cursor was founded in 2022 by Sanger, Asif and two other MIT graduates. The platform uses artificial intelligence to help developers write code and is used by millions of programmers and major technology companies worldwide. (PC: X/@amanrsanger, Cursor)