Weekly News Platter
The Economic Times

Weekly News Platter

3 May, 2025, 05:06PM IST, PTI
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In case you had a busy week, these are the top stories you need to get caught up to speed...
880 tonnes and counting: Why RBI keeps buying gold despite India having the world's 7th-largest reserves880 tonnes and counting: Why RBI keeps buying gold despite India having the world's 7th-largest reserves
Amid global economic uncertainties, central banks are increasing gold reserves for stability. The Reserve Bank of India significantly boosted its gold holdings, purchasing 57.5 tonnes in FY24-25 and repatriating 214 tonnes since 2022. This strategic move aims to hedge against dollar volatility and strengthen India's foreign exchange base, supporting the rupee's global role. Read more
Infosys co-founder Nandan Nilekani shares how Indians can enjoy a $3.3 trillion jackpot locked in plots and flatsInfosys co-founder Nandan Nilekani shares how Indians can enjoy a $3.3 trillion jackpot locked in plots and flats
India aims to be an $8 trillion economy by 2035, facing challenges like income disparity and low formalization. Real estate tokenization offers a solution by converting property value into digital tokens, increasing liquidity and lowering investment barriers. Read more
If India attacks Pakistan, Bangladesh along with China should occupy 7 Northeastern states: Yunus' aideIf India attacks Pakistan, Bangladesh along with China should occupy 7 Northeastern states: Yunus' aide
A former Bangladesh Army officer, Major General (Retd) ALM Fazlur Rahman, stirred controversy after suggesting a joint military move with China to occupy India's northeastern states if India attacks Pakistan in response to the Pahalgam terror incident. Read more
IRCTC bans waiting list passengers from Sleeper and AC travel starting May 1, 2025IRCTC bans waiting list passengers from Sleeper and AC travel starting May 1, 2025
IRCTC New Rules: Indian Railways will implement new rules from May 1, 2025. Waiting list ticket holders cannot travel in sleeper or AC coaches. They can only travel in general coaches. Read more
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India strikes hard! New Delhi bans all imports from PakistanIndia strikes hard! New Delhi bans all imports from Pakistan
India Pakistan trade ban: India has implemented a ban on all imports originating from or transiting through Pakistan. This action, effective immediately, is cited as being in the interest of national security and public policy. The ban is expected to significantly impact Pakistan's export sector, particularly affecting goods like cement, textiles, and agricultural products. This move further restricts trade relations between the two nations. Read more
George Clooney faces unexpected crisis as report suggests wife Amal could be barred from entering the United StatesGeorge Clooney faces unexpected crisis as report suggests wife Amal could be barred from entering the United States
Amal Clooney, the wife of George Clooney and a British international human rights lawyer, may face difficulties entering the United States due to her legal work with the International Criminal Court (ICC). She was warned about potential sanctions impacting her access to the US, along with other UK lawyers involved in advising the ICC on the Israel-Gaza conflict investigation. Read more
Airtel Payments Bank RuPay ON-THE-GO Card enabled with NCMC
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Airspace blockade: India plots a flight path to skip PakistanAirspace blockade: India plots a flight path to skip Pakistan
Following Pakistan's airspace closure after the Pahalgam attack, Indian authorities are exploring alternative flight paths for Air India and IndiGo. A potential route over Chinese airspace is being considered to bypass Pakistan and Afghanistan, offering direct access to Europe and the US. However, this requires Chinese permission and safety modifications, including increased oxygen supply for high-altitude flights. Read more
Pakistan continues military buildup along Indian border, Chinese howitzers being inducted in artillery regimentsPakistan continues military buildup along Indian border, Chinese howitzers being inducted in artillery regiments
Following the Pahalgam terror attack, Pakistan's military is increasing its presence on the Indian border. They are deploying air defense and artillery. The Pakistan Air Force is conducting multiple exercises. The Pakistan Army Strike Corps is also training. The Airport Security Force is protecting air bases. China's SH-15 howitzers are being inducted. Read more
Anil Ambani’s Reliance Power to invest Rs 10,000 cr for Asia’s largest solar-BESS projectAnil Ambani’s Reliance Power to invest Rs 10,000 cr for Asia’s largest solar-BESS project
Reliance NU Suntech and Solar Energy Corporation of India have signed a power purchase agreement. This agreement is for a large solar power project with battery storage. The project will supply 930 MW of solar power. It includes a 465 MW battery energy storage system. This is Asia's largest project of its kind. Read more
Elon Musk was asked who would lead DOGE after he quits. He invokes Buddha and BuddhismElon Musk was asked who would lead DOGE after he quits. He invokes Buddha and Buddhism
Elon Musk is reportedly set to quit the Department of Government Efficiency (DOGE) this month as his 130-day stint ends. DOGE chief Elon Musk claimed that his federal workforce slashing initiative so far has saved $160 billion — far less than his original projections. Elon Musk invoked Buddha and Buddhism when he was asked who would lead DOGE once he quits. Read more
India vs Pakistan war: Here's what Baba Vanga predicted for World Wars across the worldIndia vs Pakistan war: Here's what Baba Vanga predicted for World Wars across the world
Baba Vanga, the blind Bulgarian mystic famed for her predictions, foresaw a devastating European war in 2025, marking it as the beginning of humanity’s decline. Her warnings also include global economic collapse and natural disasters. These forecasts have reignited interest as war fears escalate and earthquakes have already rocked parts of Asia. From eerily accurate past prophecies to haunting future visions of interplanetary travel and alien contact, her timeline continues to unsettle a world already on edge. Read more
Air India sees Pakistan airspace ban costing it $600 mn over 12 months, seeks aidAir India sees Pakistan airspace ban costing it $600 mn over 12 months, seeks aid
Air India anticipates incurring approximately $600 million in extra expenses if Pakistan's airspace ban persists for a year, prompting a request for government compensation. The airline projects losses exceeding $591 million annually due to increased fuel consumption and extended flight durations. Read more
Unilever to shut down skincare brand REN amid market challengesUnilever to shut down skincare brand REN amid market challenges
Unilever on Thursday said that it was taking steps to close its skincare business REN, citing internal challenges that were made worse by market conditions and "left the brand unable to sustain success in the long term." Read more
SC scraps JSW Steel’s ‘illegal’ Bhushan Power and Steel deal, orders liquidationSC scraps JSW Steel’s ‘illegal’ Bhushan Power and Steel deal, orders liquidation
The Supreme Court has nullified JSW Steel's resolution plan for Bhushan Power and Steel Ltd, deeming it illegal and ordering liquidation. JSW's plan involved a significant haircut for lenders, offering Rs 19,350 crore to financial creditors and Rs 350 crore to operational creditors. Read more
YouTube India pays Rs 21,000 crore to creators, pledges Rs 850 crore to boost creator economyYouTube India pays Rs 21,000 crore to creators, pledges Rs 850 crore to boost creator economy
YouTube CEO Neal Mohan declared India a "Creator Nation" at the WAVES summit, highlighting the platform's significant impact. Over 100 million Indian channels uploaded content, with 15,000+ exceeding one million subscribers. Read more
Delhi sees second rainiest May since 1901 but IMD fails to map accurate intensityDelhi sees second rainiest May since 1901 but IMD fails to map accurate intensity
Delhi experienced its second-highest May rainfall since 1901, with 77mm recorded in 24 hours. The unexpected intense storm, featuring winds up to 80 kmph, caught both residents and the IMD off guard. Read more
Where are millionaires investing? Properties above Rs 2 crore gain share in Mumbai marketWhere are millionaires investing? Properties above Rs 2 crore gain share in Mumbai market
According to a recent report by Nuvama Institutional Equities, the share of high-value properties rose to 25% in April 2025, up from 22% in April 2024 and 19% in March 2025, signaling a clear resurgence in the premium housing segment. Read more
Pakistan steps up security for Lashkar-e-Taiba chief Hafiz Saeed amid fears of covert operation after Pahalgam attack: ReportPakistan steps up security for Lashkar-e-Taiba chief Hafiz Saeed amid fears of covert operation after Pahalgam attack: Report
Following the Pahalgam terror attack and threats from the Lawrence Bishnoi gang, Pakistan's ISI has heightened security for Hafiz Saeed. Former SSG commandos have been deployed, and his Lahore residence is now a sub-jail monitored by advanced surveillance. Despite being officially imprisoned, Saeed's past public appearances and continued operational activities raise concerns. Read more
Trump to take away Harvard's tax exempt statusTrump to take away Harvard's tax exempt status
Donald Trump announced his administration would revoke Harvard University's tax-exempt status. This followed tensions over diversity policies and campus activism. The administration had previously frozen federal grants to Harvard. Harvard argued this move would harm its educational mission. Legal experts expressed concern about academic freedom. This decision could set a precedent for other institutions. The university may face challenges. Read more

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