India's State Bank of India (SBI) Research labeled President Trump's newly imposed 25% tariffs on Indian imports—set to take effect around August 7, 2025—a "bad business decision," forecasting heavier economic costs for the U.S. than India . U.S. households could face an average increase of $2,400 annually, with low-income families losing about $1,300 and higher earners up to $5,000 due to rising prices across electronics, apparel, and auto parts . SBI projects India’s GDP decline at only 25–30 basis points, cushioned by its diversified export base and policy support. (PC: Business Today)

Industry leaders, led by the British Retail Consortium (BRC), are warning that UK food inflation is set to reach 6% by Christmas 2025, up from 4% in July—pushing a significant strain on household budgets . The BRC cautioned that additional tax increases in the upcoming autumn budget could “fan the flames of inflation”, passing further costs onto consumers . Rising wage demands, business rates, and national insurance are already squeezing retailers—who say 85% have raised prices and 65% expect to hike again. (PC: iStock)

India’s major state-owned refiners—including IOC, BPCL, HPCL, and MRPL—have paused Russian crude purchases for over a week as of late July 2025. The decision follows sharply reduced discounts on Russian crude and warnings from U.S. President Donald Trump, who threatened 100% tariffs on nations still importing oil from Moscow unless peace is achieved in Ukraine . These state refineries now rely on spot market supplies from the Middle East, such as Abu Dhabi’s Murban grade, and West Africa . Private refiners like Reliance and Nayara continue Russian imports under long‐term contracts. India sources about 35% of its oil from Russia, making this a significant strategic shift. (PC: Reuters)

The U.S. on July 30 announced a 25% tariff on Indian exports, effective August 1, along with additional unspecified penalties tied to India's purchases of Russian military equipment and oil . U.S. Secretary of State Marco Rubio described India’s Russian oil imports as “most certainly a point of irritation” in bilateral relations, citing concerns that discounted Russian oil aids Moscow’s war efforts in Ukraine . Trump also referred to India and Russia as “dead economies,” intensifying trade friction. The tariffs disrupt stalled negotiations and cast doubt on the future of India‑U.S. strategic partnership. (PC: NDTV)

India has officially resumed issuing tourist visas to Chinese citizens from July 24, 2025, ending a suspension that began in 2020 amid COVID‑19 and border tensions along the Line of Actual Control . The Indian Embassy in Beijing confirmed applicants may submit documents and biometrics via Visa Application Centres in Beijing, Shanghai, and Guangzhou . The move coincides with efforts to normalize bilateral ties, including upcoming SCO engagements and resumption of direct flights. China welcomed the decision as positive, with officials expressing support for increased people-to-people exchange. (PC: CNN)

A devastating summer storm unleashed flash flooding across the U.S. East Coast on July 31, forcing states of emergency in New York City and New Jersey. The Clearview Expressway in Queens turned into a river, trapping vehicles—including a semi-truck—where rising waters rescued all occupants safely . Subway stations like Grand Central and Jay Street‑MetroTech were inundated with water cascading onto platforms, halting commuter rail and LIRR services and prompting evacuations from an overheated train in Queens . Airports from JFK to Newark and LaGuardia saw over 1,170 flight cancellations, while major highways including the Long Island and Staten Island Expressways were closed. Forecasts call for up to 5 inches of rain, with continued flood watches and safety advisories in effect.

TVS Motor Company posted a stellar Q1 FY26, with consolidated profit rising 32‑35% to ₹610–642 crore, driven by strong scooter and motorcycle sales across domestic and export markets . Revenue grew ~20%, with scooter sales up 19% and EV units increasing 35% . However, the company warned that China’s export restrictions on rare earth magnets—crucial for EV motors—pose a serious supply‑chain risk. TVS is exploring magnet‑free alternatives and sourcing from other countries to maintain production continuity, even as competitors like Bajaj Auto brace for potential EV output halts by August. (PC: Mint)

The Piprahwa gems, dating back to 240–200 BCE, were unearthed in 1898 by British colonial officer William Peppé at Piprahwa, near the India-Nepal border. Found alongside bone fragments in a large stone casket inscribed as relics of the Buddha, the jewels were considered part of the sacred offerings made by disciples. After India’s independence, the Peppé family retained possession. In 2025, plans to auction them abroad sparked national outcry. With diplomatic effort and support from businessman Pirojsha Godrej, India repatriated the relics, reclaiming an important symbol of its Buddhist heritage and ancient craftsmanship. The relics will now be preserved in India. (PC: NDTV)

OpenAI has rolled out a new Study Mode feature in ChatGPT, now available for free across all user tiers in India. Designed to help students learn actively rather than just receiving answers, the tool uses Socratic questioning, hints, quizzes, and concept reinforcement to guide learners. Study Mode supports 11 Indian languages and enables text, voice, and image input, making it accessible for diverse educational needs. OpenAI developed this tool in collaboration with educators and is partnering with Indian EdTech firms to expand access and promote responsible AI-assisted learning.  

Oil marketing companies have lowered the price of 19 kg commercial LPG cylinders by ₹33.50, effective August 1, 2025, reducing rates—for example in Delhi—to ₹1,631.50. The cut is expected to benefit restaurants, hotels and small businesses that rely heavily on LPG. Domestic 14.2 kg cylinder prices, however, remain unchanged. This move marks the fifth successive monthly reduction in commercial LPG, with similar cuts in July, April, June and February, driven by softened crude oil prices easing operational costs for businesses. (PC: NDTV)