US Positions Nuclear Submarines Near Russia Amid Escalating Tensions
US President Donald Trump announced he has ordered two nuclear submarines to be positioned near Russia. The move is a direct response to what Trump called "foolish and inflammatory" threats from former Russian President Dmitry Medvedev. This action significantly escalates the war of words between the two nuclear powers, coming after Trump gave Russia a 10-day ultimatum to agree to a ceasefire in Ukraine, raising concerns about potential miscalculation in a tense geopolitical climate.
US Imposes 25% Tariff on Indian Goods, Citing Trade Imbalance and Russia Ties
The United States has imposed a 25% tariff on all Indian exports, effective August 7, as part of a revised tariff structure for 70 nations. President Donald Trump cited India's high tariffs, trade barriers, and significant energy and military purchases from Russia as reasons for the levy. He also referred to India's economy as "dead" and stated India may face an additional "penalty" for its ties with Russia. The move has created uncertainty for Indian exporters and the bilateral trade relationship.
All Accused, Including Pragya Thakur, Acquitted in 2008 Malegaon Blast Case
A special NIA court in Mumbai has acquitted all seven accused in the 2008 Malegaon bomb blast case, including former BJP MP Pragya Singh Thakur and Lt. Col. Prasad Purohit. The court cited a lack of "reliable and cogent evidence" for the verdict, nearly 17 years after the attack killed six people and injured over 100. The judgment has sparked political debate, with the BJP hailing it as a refutation of the "saffron terror" narrative, while opposition parties have questioned the investigation.
Supreme Court Recalls Order to Liquidate Bhushan Power & Steel
The Supreme Court has recalled its May 2 judgment that ordered the liquidation of Bhushan Power and Steel Limited (BPSL). A bench led by the Chief Justice noted that the earlier verdict did not correctly consider the legal position and that the larger picture, including the fate of 25,000 workers, must be considered. JSW Steel had acquired the debt-ridden BPSL in 2019 for ₹19,700 crore. The court will now hear the matter afresh, keeping all questions open.
Bihar Draft Electoral Roll Shows Drop of 6.5 Million Voters, Sparking Opposition Concern
The Election Commission of India has published a draft electoral roll for Bihar showing 65 lakh fewer voters than the list published in January 2025. The ECI attributes the reduction to deaths, permanent migration, and duplicate entries. However, opposition parties in the state have raised alarms about potential mass disenfranchisement ahead of assembly elections. They have questioned the process and demanded detailed data on the excluded names, escalating concerns over the integrity of the voter revision exercise.
Enforcement Directorate Summons Anil Ambani in Loan Fraud Probe
The Enforcement Directorate (ED) has summoned Reliance Group Chairman Anil Ambani for questioning on August 5 in Delhi. The summons is part of a money laundering investigation into an alleged loan fraud scheme exceeding ₹10,000 crore. The probe stems from CBI FIRs and focuses on the diversion of around ₹3,000 crore in loans from Yes Bank between 2017-2019. The action follows extensive ED raids last week on over 50 companies linked to Ambani's business group across Mumbai and Delhi.
Former MP Prajwal Revanna Convicted of Rape in Landmark Verdict
A special court in Bengaluru has convicted former Janata Dal (Secular) MP Prajwal Revanna in a rape case involving a 48-year-old employee at his family's farmhouse. This is the first conviction among four cases filed against him after hundreds of videos allegedly showing him sexually assaulting multiple women surfaced before the 2024 Lok Sabha elections. The verdict marks a significant development in a case that sparked national outrage and led to his arrest after he fled to Germany.
Pakistan Court Sentences 166 Members of Imran Khan's Party to 10 Years in Prison
An anti-terrorism court in Faisalabad, Pakistan, has sentenced 166 members of Imran Khan's Pakistan Tehreek-e-Insaf (PTI) party to 10 years in prison each. The convictions relate to the May 9, 2023, attacks on military installations, including an ISI building, following Khan's arrest. Those sentenced include senior lawmakers and opposition leaders. The PTI has condemned the verdict as politically motivated and part of a plan to disqualify its parliamentarians ahead of a planned protest movement.
Above-Normal Rainfall Likely in August and September, IMD Forecasts
The India Meteorological Department (IMD) has forecast above-normal rainfall for the second half of the monsoon season, covering August and September. Overall rainfall is expected to be 106% of the Long Period Average. Most parts of the country are likely to receive normal to above-normal rain, with the exception of the Northeast, parts of eastern India, and some central and peninsular regions. The forecast is critical for the agriculture sector, which is heavily dependent on monsoon rains.
Enforcement Directorate Issues Lookout Notice for Anil Ambani in Loan Fraud Probe
The Enforcement Directorate (ED) has issued a Look Out Circular (LOC) against industrialist Anil Ambani in connection with a money laundering probe into an alleged ₹17,000-crore loan fraud. Ambani has been summoned to appear on August 5. The investigation stems from an FIR filed by Delhi's Economic Offences Wing and recent ED raids on 35 locations linked to the Reliance Group, which reportedly uncovered a fake bank guarantee scheme designed to defraud financial institutions.
US President Demands Global Price Parity from Major Pharma CEOs
US President Donald Trump has sent letters to 17 top pharmaceutical CEOs, including Novartis's Indian-American head Vasant Narasimhan, demanding they reduce drug prices for Americans. The letters give the companies until September 29 to commit to offering the same prices in the US as they do in Europe and other developed nations. This direct presidential intervention marks a major escalation in the administration's efforts to lower healthcare costs and could significantly impact the global pharmaceutical industry's revenue models.
Cabinet Approves Four Railway Projects Worth ₹11,169 Crore
The Cabinet Committee on Economic Affairs has approved four multi-tracking railway projects with a total estimated cost of ₹11,169 crore. The projects will add approximately 574 km to the Indian Railways network across 13 districts in Maharashtra, Madhya Pradesh, West Bengal, Bihar, Odisha, and Jharkhand. Expected to be completed by 2028-29, the initiatives aim to enhance connectivity, ease congestion on essential freight routes for commodities like coal and cement, and improve multi-modal logistics efficiency.
Supreme Court Gives Telangana Speaker 3 Months to Decide on MLA Disqualifications
The Supreme Court has directed the Telangana Assembly Speaker to decide within three months on petitions seeking the disqualification of ten MLAs who defected from the Bharat Rashtra Samithi to the ruling Congress in 2024. The court observed that a delay defeats the purpose of the anti-defection law (Tenth Schedule) and that the speaker's role is not immune to judicial review. The ruling sets an important precedent for curbing politically motivated delays in handling defection cases nationwide.
India's Manufacturing Growth Hits 16-Month High, but Business Confidence Falters
India’s manufacturing sector activity reached a 16-month high in July, with the HSBC PMI rising to 59.1, driven by strong new orders and output. Despite the robust current performance, the outlook is mixed. The survey revealed that business confidence has slumped to a three-year low, weighed down by concerns over inflation and intensifying competition. Furthermore, the pace of job creation slowed to its least extent in eight months, signaling caution among manufacturers about future prospects.
ED Raids Fake Delhi Call Centres That Duped US Citizens of ₹100 Crore
The Enforcement Directorate (ED) has raided three premises in Delhi linked to a money laundering probe against fake call centres. The operation allegedly duped US citizens by selling them pirated software disguised as legitimate products from companies like Microsoft. According to preliminary investigations, the call centres received foreign remittances worth approximately ₹100 crore between 2016 and 2025. The raids were conducted under the Prevention of Money Laundering Act (PMLA) as the investigation continues.