Lord Mayor, Councillor Sarah Duffy, with Colm O’Farrell, Executive Chairman of The Deluxe Group, and Roger Wilson, ABC Council Chief Executive
Lord Mayor of Armagh City, Banbridge and Craigavon Borough, Councillor Sarah Duffy has warmly welcomed the announcement that Portadown-based company, The Deluxe Group, has been honoured with the King’s Award for Enterprise in International Trade.
The award – one of the UK’s most prestigious business honours – recognises the company’s extraordinary 575% increase in overseas revenue over the past three years, with exports now accounting for over half of its total turnover.
Renowned for creating world-class, story-led interiors across the luxury hospitality, residential, cruise, and theme park sectors, The Deluxe Group has firmly established itself as a leader in immersive and experiential design. With over 50 years of experience, the company combines creativity, digital innovation, and artisan craftsmanship to deliver captivating environments for global clients.
Lord Mayor, Cllr Sarah Duffy meets staff from The Deluxe Group in their Portadown Office.
The firm’s impressive portfolio includes projects across the USA, Japan, the Middle East, and Europe, with standout work including the celebrated Game of Thrones Studio Tour in Banbridge.
Welcoming the announcement, the Lord Mayor, Councillor Sarah Duffy said:
“This is a truly outstanding achievement and a moment of great pride not just for The Deluxe Group, but for the entire borough. This prestigious honour is a reflection of the company’s exceptional vision, craftsmanship and global ambition. It’s a tremendous achievement and we’re incredibly proud of their success.”
This latest recognition reinforces the region’s growing reputation for design and manufacturing excellence on the international stage.
Director General David Cheng-Wei Wu was honored to attend the Buddha’s Day Ceremony hosted by Tzu Chi Australia. Joined by Tzu Chi Australia CEO Randy Sung, Ryde City Mayor Trenton Brown, Clr. Lyndal Howison, and hundreds of members, DG Wu prayed for purity in people’s hearts, harmony in society, and a world free of disasters. For 59 years, Tzu Chi has dedicated itself to its Four Great Missions: Charity, Medicine, Education, and Humanistic Culture. These efforts have established Tzu Chi as a vital force for stability in Taiwan and a shining example of Taiwan’s role as a global force for good.
Source: Hong Kong Government special administrative region
​Hongkong Post announced today (May 12) that, as advised by the postal administration of Italy, due to a cyber incident, in addition to the provinces of Florence, Lucca, Grosseto, Livorno, Pistoia and Prato that were previously impacted by flooding, all mail delivery services to the country are subject to delay.
VANCOUVER, British Columbia, May 12, 2025 (GLOBE NEWSWIRE) — Roam, a decentralized open wireless network, has rolled out its Business eSIM Data Program, launching with a key partnership with Bybit, a top-tier cryptocurrency exchange. This program, introduced after Roam’s successful debut on 12 major exchanges—including Bybit, Bitget, Gate.io, MEXC, and KuCoin—in March 2025, serves as a thank-you to the incredible support Roam received during its Token Generation Event (TGE). It delivers businesses fast, affordable, and seamless global internet access, wiping out costly roaming fees.
A Breakthrough for Global Businesses
The Business eSIM Data Program fuels Roam’s mission to build a decentralized global open wireless network. Crafted for businesses, it’s a game-changer for international travelers, remote workers, and global teams, especially in fast-moving sectors like Web3. Spanning over 180 countries, Roam’s enterprise-grade eSIM connects users to local networks instantly, providing reliable data without the hefty price tag of traditional roaming.
Key benefits of the Roam Business eSIM include:
Global Reach, No Roaming Costs: Connects to local networks in over 180 countries, slashing roaming expenses by up to 80% compared to standard data plans.
Uninterrupted Remote Work: Offers seamless access to platforms like Google, Gmail, X, and Web3 exchanges, keeping teams productive anywhere.
Easy Setup: Works with any eSIM-compatible device and activates online—no physical SIM cards needed.
Smart Management: A user-friendly admin dashboard lets businesses track budgets and manage costs effortlessly, perfect for multinational and Web3 teams.
How the Program Works
The Program is exclusive to verified business users, starting with employees of Roam’s exchange partners like Bybit. Those with a corporate email can claim a one-time eSIM benefit, which offers:
No Expiration: Unused data rolls over to the next month.
Automatic Accumulation: Monthly data adds to the existing balance automatically.
Exclusive Access: The benefit is non-transferable and reserved for verified business users.
Once the free data runs out, users can add more through the Roam App. Activation requires an eSIM-compatible device and basic details, like email and IMEI, submitted online.
A Bold Step Toward a Connected World
The Bybit partnership kicks off Roam’s global push for the Business eSIM Data Program. This open initiative invites companies to join, equipping them with tools to work without borders and thrive in a globalized economy. By offering a cost-effective, unified data solution, Roam is streamlining operations and paving the way for a decentralized wireless future.
Roam is a leader in decentralized connectivity, building a global wireless network that delivers seamless, secure, and cost-effective internet access through WiFi OpenRoaming and eSIM top-up services. By harnessing blockchain-based credentials, Roam enables small and medium-sized businesses to adopt WiFi OpenRoaming, creating a network of over 8 million hotspots across 200 countries. With 2.6 million app users, Roam is the world’s largest decentralized wireless network, empowering users to access free eSIM data while contributing to and validating WiFi nodes. As a trusted eSIM solution, Roam has powered seamless data connectivity for major Web3 events, including Consensus Hong Kong 2025, Hong Kong Web3 Festival 2025, and the R3AL WORLD Summit, cementing its role as a pioneer in the DePIN sector.
Disclaimer: This is a paid post and is provided by Roam. The statements, views, and opinions expressed in this content are solely those of the content provider and do not necessarily reflect the views of this media platform or its publisher. We do not endorse, verify, or guarantee the accuracy, completeness, or reliability of any information presented. We do not guarantee any claims, statements, or promises made in this article. This content is for informational purposes only and should not be considered financial, investment, or trading advice.Investing in crypto and mining-related opportunities involves significant risks, including the potential loss of capital. It is possible to lose all your capital. These products may not be suitable for everyone, and you should ensure that you understand the risks involved. Seek independent advice if necessary. Speculate only with funds that you can afford to lose. Readers are strongly encouraged to conduct their own research and consult with a qualified financial advisor before making any investment decisions. However, due to the inherently speculative nature of the blockchain sector—including cryptocurrency, NFTs, and mining—complete accuracy cannot always be guaranteed. Neither the media platform nor the publisher shall be held responsible for any fraudulent activities, misrepresentations, or financial losses arising from the content of this press release. In the event of any legal claims or charges against this article, we accept no liability or responsibility. Globenewswire does not endorse any content on this page.
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Source: United Kingdom – Executive Government & Departments 3
News story
India and Pakistan: G7 foreign ministers’ statement, 10 May 2025
G7 foreign ministers gave a statement on India and Pakistan.
Joint statement:
We, the G7 Foreign Ministers of Canada, France, Germany, Italy, Japan, the United Kingdom and the United States of America and the High Representative of the European Union, strongly condemn the egregious terrorist attack in Pahalgam on April 22 and urge maximum restraint from both India and Pakistan. Further military escalation poses a serious threat to regional stability. We are deeply concerned for the safety of civilians on both sides.
We call for immediate de-escalation and encourage both countries to engage in direct dialogue towards a peaceful outcome. We continue to monitor events closely and express our support for a swift and lasting diplomatic resolution.
On his last engagement in Auckland, New Zealand, Secretary-General of ASEAN, Dr. Kao Kim Hourn, engaged with members of the ASEAN New Zealand Business Council (ANZBC) during his Working Visit to New Zealand. The session provided an opportunity to exchange views on strengthening economic cooperation, promoting trade and investment, and enhancing business linkages between ASEAN and New Zealand. Dr. Kao highlighted the importance of robust private sector engagement in advancing the ASEAN-New Zealand partnership and encouraged continued collaboration in fostering sustainable and inclusive economic growth.
The post Secretary-General of ASEAN engages with ASEAN-New Zealand Business Council, in Auckland, New Zealand appeared first on ASEAN Main Portal.
by Pascale RizkRome (Agenzia Fides) – About 900 nuns from around the world gathered in Rome from May 5 to 9 to participate in the 23rd Assembly of the International Union of Superiors General, dedicated to the theme “Consecrated Life: a hope that transforms.”Founded on December 8, 1965, the last day of the Second Vatican Council, the International Union of Superiors General – a body that unites the superiors general of religious institutes and societies of apostolic life – celebrates its 60th anniversary this year. At the conclusion of the assembly, which takes place every three years, consecrated women from all over the world witnessed together the end of the Conclave and the election of the new Pope, Leo XIV.It was 6:09 p.m. on Thursday, May 8, when the hall of the Hotel Ergife, where the assembly was held, erupted with joy upon the announcement that “white smoke” was rising from the chimney on the roof of the Apostolic Palace. A few minutes earlier, Sister Mary Barron, the outgoing president of the UISG and a member of the Dicastery for Evangelization (Section for First Evangelization and New Particular Churches), had commemorated May 8, 1994, when the Algerian martyrs suffered martyrdom in Hennaya, Algeria. Two of them, Brother Henri Vergès and Sister Paul-Hélène Saint-Raymond, had been murdered in the library of the diocese of Algiers, in the casbah, on May 8, 1994.”Pope Francis was a friend of the poor and forged bonds of friendship with all religions of the world. He was also humble, choosing humility as his throne and simplicity as his language,” read Sister Barron in the message on Pope Francis’s death, sent by the local Muslim community, the Missionary Sisters of Our Lady of the Apostles, a sign “of the transforming hope offered by the authentic witness of the Christian message.” The message went on to emphasize that Pope Francis’s pontificate “was a breath of fresh air, fragile but tenacious, with a heart that listened more than a voice that imposed. Today it is not only the Church that weeps, but all of humanity.”Martyrdom, love for Christ until the end, and dedication to the poor were some of the many themes discussed during the Assembly. From the Colombian Amazon, across the border between Mexico and the United States, to Myanmar, the Superiors General shared the testimonies of their sisters serving in lands of suffering and conflict. “The moon does not dominate, does not blind, it remains in the company of the stars, it dwells in the heaven of communion, and for this very reason, it becomes an image of the Church today: it reflects a light that is not its own, like consecrated women who shine only if they are oriented toward the Lord,” stated Sister Simona Brambilla, a Consolata missionary recently confirmed by Pope Leo XIV as Prefect of the Dicastery for Institutes of Consecrated Life and Societies of Apostolic Life, in her address.“Night,” she added, “is not only darkness. It is also the space of creativity, of intuition, of birth. As on Easter night, it is the time of the birth of a new life, small, fragile, but full of hope.” In a world that fears the night, consecrated life reminds us that it is precisely there that God speaks, where hope germinates, where prophecy takes shape.”In their final declaration, the Superiors General expressed their gratitude for the dynamism that Pope Francis has brought to consecrated life and renewed their commitment as women of peace, present at the foot of the cross, at the borders, who keep watch in the night; women who accompany and foster evangelical and inclusive communities, and who, even in old age and illness, continue to be signs of hope. (Agenzia Fides, 10/5/2025)
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Source: People’s Republic of China – State Council News
Full text: Joint Statement on China-U.S. Economic and Trade Meeting in Geneva
GENEVA, May 12 — China and the United States on Monday released a joint statement on China-U.S. Economic and Trade Meeting in Geneva.
The following is the English translation of the full text of the joint statement:
Joint Statement on China-U.S. Economic and Trade Meeting in Geneva
The Government of the People’s Republic of China (“China”) and the Government of the United States of America (the “United States”),
Recognizing the importance of their bilateral economic and trade relationship to both countries and the global economy;
Recognizing the importance of a sustainable, long-term, and mutually beneficial economic and trade relationship;
Reflecting on their recent discussions and believing that continued discussions have the potential to address the concerns of each side in their economic and trade relationship; and
Moving forward in the spirit of mutual opening, continued communication, cooperation, and mutual respect;
The Parties commit to take the following actions by May 14, 2025:
The United States will (i) modify the application of the additional ad valorem rate of duty on articles of China (including articles of the Hong Kong Special Administrative Region and the Macau Special Administrative Region) set forth in Executive Order 14257 of April 2, 2025, by suspending 24 percentage points of that rate for an initial period of 90 days, while retaining the remaining ad valorem rate of 10 percent on those articles pursuant to the terms of said Order; and (ii) removing the modified additional ad valorem rates of duty on those articles imposed by Executive Order 14259 of April 8, 2025 and Executive Order 14266 of April 9, 2025.
China will (i) modify accordingly the application of the additional ad valorem rate of duty on articles of the United States set forth in Announcement of the Customs Tariff Commission of the State Council No. 4 of 2025, by suspending 24 percentage points of that rate for an initial period of 90 days, while retaining the remaining additional ad valorem rate of 10 percent on those articles, and removing the modified additional ad valorem rates of duty on those articles imposed by Announcement of the Customs Tariff Commission of the State Council No. 5 of 2025 and Announcement of the Customs Tariff Commission of the State Council No. 6 of 2025; and (ii) adopt all necessary administrative measures to suspend or remove the non-tariff countermeasures taken against the United States since April 2, 2025.
After taking the aforementioned actions, the Parties will establish a mechanism to continue discussions about economic and trade relations. The representative from the Chinese side for these discussions will be He Lifeng, Vice Premier of the State Council, and the representatives from the U.S. side will be Scott Bessent, Secretary of the Treasury, and Jamieson Greer, United States Trade Representative. These discussions may be conducted alternately in China and the United States, or a third country upon agreement of the Parties. As required, the two sides may conduct working-level consultations on relevant economic and trade issues.
Source: People’s Republic of China – State Council News
BEIJING, May 12 — China’s State Council Information Office on Monday released a white paper on the country’s national security in the new era.
The move aims to provide a comprehensive explanation of the innovative concepts, practices, and achievements in China’s national security efforts, and enhance the international community’s understanding of China’s national security.
The white paper, apart from its preface and conclusion, is structured into six sections, and outlines the following: China injecting certainty and stability into the world of change and disorder; the holistic approach to national security guiding national security efforts in the new era; providing solid support for the steady and continued progress of Chinese modernization; reinforcing security in development and pursuing development in security; implementing the Global Security Initiative and promoting the common security of the world; and advancing the modernization of the national security system and capacity through deepening reforms.
The white paper emphasized China’s pursuit of national rejuvenation strategy amid global changes of a scale unseen in a century, noting that the country has maintained overall stability and steady progress in national security. China works together with Asia-Pacific countries to uphold regional peace and development. These inject reliable stability into a volatile and unstable world.
According to the white paper, China’s holistic approach to national security is the first major strategic thinking established as the guiding principle for national security efforts since the founding of the People’s Republic of China. It is an important component of Xi Jinping Thought on Socialism with Chinese Characteristics for a New Era and represents a major theoretical contribution from contemporary China to the global community.
In the new era, China’s national security upholds a national security path with Chinese characteristics. It is one that takes the people’s security as its ultimate goal, political security as the fundamental task, and national interests as the guiding principle. It is also one that serves and promotes high-quality development, supports further expansion of high-level opening up, and operates under the rule of law.
China’s national security firmly fulfills the major responsibilities entrusted by the Party and the people, upholds the Party’s position as the governing party and the socialist system, improves the people’s sense of fulfillment, happiness and security, ensures high-quality development, safeguards national territorial integrity and maritime rights and interests, ensures the safety and reliability of emerging fields, and fortifies the security shield essential to the great rejuvenation of the Chinese nation, it said.
China values coordinating development with security, striving to achieve a positive interaction between high-quality development and high-level security, promoting mutual reinforcement and coordinated enhancement between opening up and security.
China’s national security adheres to reform and innovation as the driving force, and adopts a systematic and institutional approach, to improve the efficient and coordinated national security system, and forge practical national security capacity, said the white paper.
The Global Security Initiative highlights the security vision of building a community with a shared future for humanity, and brings a global outlook to the holistic approach to national security, it noted.
China ensures both its own security and common security, advocates strengthening global security governance, practices the global governance concept of extensive consultation, joint contribution and shared benefits, upholds true multilateralism, and works to make global security governance system fairer and more equitable, the white paper said.
Source: People’s Republic of China – State Council News
Ousted South Korean President Yoon Suk-yeol attended the third hearing of his criminal trial over insurrection charge on Monday, appearing in court through an open entrance for the first time.
Yoon, dressed in a navy blue suit and red tie, arrived at the Seoul Central District Court in a black van and walked up to the entrance without answering questions from reporters, TV footage showed.
It marked the first time that Yoon’s court appearance was made public. Yoon was allowed to come to a courtroom through an underground parking lot for the past two hearings.
Yoon faced charges of leading an insurrection through his botched martial law imposition last December. If convicted, he could be sentenced to a maximum penalty of death or life in prison.
The former conservative president was ousted from office on April 4 when the constitutional court upheld a motion by the National Assembly to impeach him.
Source: People’s Republic of China – State Council News
People visit the booth of CATL at the 12th Energy Storage International Conference and Expo (ESIE) at Shougang Exhibition and Convention Center in Beijing, capital of China, April 11, 2024. [Photo/Xinhua]
Chinese electric vehicle (EV) battery maker Contemporary Amperex Technology (CATL) on Monday launched its public offering in Hong Kong.
According to the prospectus published on the official website of the Hong Kong Exchanges and Clearing Limited, the offering period will end on May 16, and the company is expected to be listed on the Hong Kong Stock Exchange on May 20.
According to the prospectus, the maximum offering price for CATL is 263 HK dollars (about 33.76 U.S. dollars) per share, with the stock code 3750. The expected number of shares for the initial global offering is 117,894,500.
In this offering, CATL will issue 8,842,100 shares in Hong Kong, while 109,052,400 shares will be offered internationally.
Edward Au, southern region managing partner at Deloitte China, estimated that the total fundraising will be at least 4 billion U.S. dollars, potentially making it the largest IPO in Hong Kong since the listing of video sharing app Kuaishou in 2021.
CATL is an innovative new energy technology company, primarily engaged in the research, development, production, and sales of EV batteries and energy storage system batteries. It had established six major R&D centers and 13 battery manufacturing bases worldwide, with service outlets spanning 64 countries and regions. (1 U.S. dollar equals 7.78 HK dollars)
Source: People’s Republic of China – State Council News
China and the United States on Monday released a joint statement on China-U.S. Economic and Trade Meeting in Geneva.
The following is the English translation of the full text of the joint statement:
Joint Statement on China-U.S. Economic and Trade Meeting in Geneva
The Government of the People’s Republic of China (“China”) and the Government of the United States of America (the “United States”),
Recognizing the importance of their bilateral economic and trade relationship to both countries and the global economy;
Recognizing the importance of a sustainable, long-term, and mutually beneficial economic and trade relationship;
Reflecting on their recent discussions and believing that continued discussions have the potential to address the concerns of each side in their economic and trade relationship; and
Moving forward in the spirit of mutual opening, continued communication, cooperation, and mutual respect;
The Parties commit to take the following actions by May 14, 2025:
The United States will (i) modify the application of the additional ad valorem rate of duty on articles of China (including articles of the Hong Kong Special Administrative Region and the Macau Special Administrative Region) set forth in Executive Order 14257 of April 2, 2025, by suspending 24 percentage points of that rate for an initial period of 90 days, while retaining the remaining ad valorem rate of 10 percent on those articles pursuant to the terms of said Order; and (ii) removing the modified additional ad valorem rates of duty on those articles imposed by Executive Order 14259 of April 8, 2025 and Executive Order 14266 of April 9, 2025.
China will (i) modify accordingly the application of the additional ad valorem rate of duty on articles of the United States set forth in Announcement of the Customs Tariff Commission of the State Council No. 4 of 2025, by suspending 24 percentage points of that rate for an initial period of 90 days, while retaining the remaining additional ad valorem rate of 10 percent on those articles, and removing the modified additional ad valorem rates of duty on those articles imposed by Announcement of the Customs Tariff Commission of the State Council No. 5 of 2025 and Announcement of the Customs Tariff Commission of the State Council No. 6 of 2025; and (ii) adopt all necessary administrative measures to suspend or remove the non-tariff countermeasures taken against the United States since April 2, 2025.
After taking the aforementioned actions, the Parties will establish a mechanism to continue discussions about economic and trade relations. The representative from the Chinese side for these discussions will be He Lifeng, Vice Premier of the State Council, and the representatives from the U.S. side will be Scott Bessent, Secretary of the Treasury, and Jamieson Greer, United States Trade Representative. These discussions may be conducted alternately in China and the United States, or a third country upon agreement of the Parties. As required, the two sides may conduct working-level consultations on relevant economic and trade issues.
Integrating autonomous vehicles and AI in precision crop management
Ex Machines, a robotics company based in Hyderabad, has developed the X100, a robotic platform designed to perform a variety of agricultural tasks. Resembling a compact tractor, the X100 operates using a range of specialized attachments for activities such as planting, weeding, and pesticide application. It is fully electric, can be remotely operated, and offers autonomous functionality once the field perimeter is defined.
The platform supports precision agriculture by identifying crop-related issues and aiming to reduce input costs. This contributes to more efficient resource use and environmentally sustainable farming practices. Ex Machines also seeks to improve accessibility by offering rental services through rural micro-entrepreneurs, helping lower the cost barrier for small-scale farmers.
Drone-based imaging solutions for real-time crop monitoring
Point of Beat is a drone services company that utilizes advanced imaging technologies—including multispectral, hyperspectral, and thermal imaging—to monitor crop health. Integrated with drone systems, these technologies help detect issues such as diseases, pests, and nutrient deficiencies.
By capturing high-resolution images and applying detailed data analysis, the company delivers actionable insights to farmers. Its approach also supports more sustainable agricultural practices by enabling targeted interventions, thereby reducing the use of chemicals, minimizing water pollution, and limiting environmental impact.
AI-powered pest and disease detection through the Plantix app
Plantix is a mobile application that leverages artificial intelligence to assist farmers in identifying plant diseases and pests. Available in 18 languages, the app has been downloaded over 10 million times. It enables users to upload photographs of plants, which are then analyzed using AI to detect and diagnose issues. The app can identify over 120 diseases and pests across 30 different crop types.
Participants of the tour testing the Plantix mobile app. Photo credit: Landell Mills.
Beyond diagnostics, Plantix offers treatment recommendations and guidance for managing identified issues. It also includes a community forum where users can ask questions and receive responses from both fellow farmers and agricultural experts. Additional features such as growth tracking and irrigation management are available to support users in optimizing their farming practices.
Digital platforms enhancing market access for agri-producers
Kalgudi is a startup incubator that develops digital platforms aimed at addressing rural and agricultural challenges. The company operates two main platforms: Outputs, which facilitates the marketing of agricultural produce with a focus on traceability, and Inputs, which provides access to agricultural inputs through a network of onboarded suppliers. Both platforms offer detailed information on sellers, crop varieties, cultivation methods, and packing and drying processes, supporting targeted connections between traders and farmers.
Through its emphasis on traceability and product information, Kalgudi aims to address challenges related to market access, particularly in the context of exports. The documentation of cultivation practices, production methods, and processing standards aligns with the requirements of international markets.
The company also serves as an aggregator for government programs by supporting women’s self-help groups in listing their products on mainstream e-commerce platforms such as Amazon. This support includes guidance on compliance, labeling, packaging, and brand representation. Currently, Kalgudi works with approximately 50,000 self-help groups—each with around ten members—and manages a digital inventory of about 500,000 products.
FarmRobo’s Minibot: Smart machinery for smallholder farming
FarmRobo is an agricultural technology company that focuses on designing and manufacturing agricultural products suited to local farming conditions, with attention to cost-effectiveness.
One of its key developments is the Minibot, an unmanned ground vehicle designed for various agricultural applications, including inter-cultivation, rotavating, and spraying. The Minibot features a high-resolution camera system, a lithium-ion battery pack capable of operating for up to eight hours on a single charge, and multiple attachments for different tasks.
Demonstration of FarmRobo’s Minibot. Photo credit: Landell Mills.
The Minibot uses artificial intelligence and its camera system to navigate fields autonomously, maintain row alignment, and avoid obstacles. It is designed for use with both dry and row crops, and can be applied across a range of agricultural contexts in India.
Incubation model for scaling agri-food innovations
The Agribusiness Innovation Platform (AIP) supports innovation, entrepreneurship, and the growth of agricultural startups and agribusiness ventures. Its Innovation and Partnership Program spans entire value chains and engages with large companies, farmer producer organizations, and communities. The program offers a range of services, including strategic business consultation, training, capacity building, and participation in relevant events. It also supports primary and secondary processing units for crops such as groundnut and millets, enabling farmers to take part in value addition.
The program emphasizes product development, particularly in the creation of innovative and nutritious food products. These are developed in collaboration with entrepreneurs, refined through consumer feedback, and introduced to the market in partnership with retailers, dealers, and distributors. AIP also provides training on food safety standards and regulatory compliance, helping startups align with the quality and safety requirements set by the Food Safety and Standards Authority of India (FSSAI).
Fresh, stringent security measures have been imposed in New Caledonia following aborted political talks last week and ahead of the first anniversary of the deadly riots that broke out on 13 May 2024, which resulted in 14 deaths and 2.2 billion euros (NZ$4.2 billion) in damages.
On Sunday, the French High Commission in Nouméa announced that from Monday, May 12, to Friday, May 15, all public marches and demonstrations will be banned in the Greater Nouméa Area.
Restrictions have also been imposed on the sale of firearms, ammunition, and takeaway alcoholic drinks.
The measures aim to “ensure public security”.
In the wake of the May 2024 civil unrest, a state of emergency and a curfew had been imposed and had since been gradually lifted.
The decision also comes as “confrontations” between law enforcement agencies and violent groups took place mid-last week, especially in the township of Dumbéa — on the outskirts of Nouméa — where there were attempts to erect fresh roadblocks, High Commissioner Jacques Billant said.
The clashes, including incidents of arson, stone-throwing and vehicles being set on fire, are reported to have involved a group of about 50 individuals and occurred near Médipôle, New Caledonia’s main hospital, and a shopping mall.
Clashes also occurred in other parts of New Caledonia, including outside the capital Nouméa.
It adds another reason for the measures is the “anniversary date of the beginning of the 2024 riots”.
Wrecked and burnt-out cars gathered after the May 2024 riots and dumped at Koutio-Koueta on Ducos island in Nouméa. Image: NC 1ère TV
Law and order stepped up French authorities have also announced that in view of the first anniversary of the start of the riots tomorrow, law and order reinforcements have been significantly increased in New Caledonia until further notice.
This includes a total of 2600 officers from the Gendarmerie, police, as well as reinforcements from special elite SWAT squads and units equipped with 16 Centaur armoured vehicles.
Drones are also included.
The aim is to enforce a “zero tolerance” policy against “urban violence” through a permanent deployment “night and day”, with a priority to stop any attempt to blockade roads, especially in Greater Nouméa, to preserve freedom of movement.
One particularly sensitive focus would be placed on the township of Saint-Louis in Mont-Dore often described as a pro-independence stronghold which was a hot spot and the scene of violent and deadly clashes at the height of the 2024 riots.
“We’ll be present wherever and whenever required. We are much stronger than we were in 2024,” High Commissioner Billant told local media during a joint inspection with French gendarmes commander General Nicolas Matthéos and Nouméa Public Prosecutor Yves Dupas.
Dupas said that over the past few months the bulk of criminal acts was regarded as “delinquency” — nothing that could be likened to a coordinated preparation for fresh public unrest similar to last year’s.
Billant said that, depending on how the situation evolves in the next few days, he could also rely on additional “potential reinforcements” from mainland France if needed.
French High Commissioner Jacques Billant, Public Prosecutor Yves Dupas and the Gendarmerie commander, General Nicolas Matthéos, confer last Wednesday . . . “We are much stronger than we were in 2024.” Image: Haut-Commissariat de la République en Nouvelle-Calédonie
New Zealand ANZAC war memorial set alight A New Zealand ANZAC war memorial in the small rural town of Boulouparis (west coast of the main island of Grande Terre) was found vandalised last Friday evening.
The monument, inaugurated just one year ago at last year’s ANZAC Day to commemorate the sacrifice of New Zealand soldiers during world wars in the 20th century, was set alight by unidentified people, police said.
Tyres were used to keep the fire burning.
An investigation into the circumstances of the incident is underway, the Nouméa Public Prosecutor’s office said, invoking charges of wilful damage.
Australia, New Zealand travel warnings In the neighbouring Pacific, two of New Caledonia’s main tourism source markets, Australia and New Zealand, are maintaining a high level or increased caution advisory.
The main identified cause is an “ongoing risk of civil unrest”.
In its latest travel advisory, the Australian brief says “demonstrations and protests may increase in the days leading up to and on days of national or commemorative significance, including the anniversary of the start of civil unrest on May 13.
“Avoid demonstrations and public gatherings. Demonstrations and protests may turn violent at short notice.”
Pro-France political leaders at a post-conclave media conference in Nouméa last Thursday . . . objected to the proposed “sovereignty with France”, a kind of independence in association with France. Image: RRB/RNZ Pacific
Inconclusive talks Last Thursday, May 8, French Minister for Overseas Manuel Valls, who had managed to gather all political parties around the same table for negotiations on New Caledonia’s political future, finally left the French Pacific territory. He admitted no agreement could be found at this stage.
In the final stage of the talks, the “conclave” on May 5-7, he had put on the table a project for New Caledonia’s accession to a “sovereignty with France”, a kind of independence in association with France.
This option was not opposed by pro-independence groups, including the FLNKS (Kanak Socialist National Liberation Front).
French Overseas Territories Minister Manuel Valls . . . returned to Paris last week without a deal on New Caledonia’s political future. Image: Caledonia TV screenshot APR
But the pro-France movement, in support of New Caledonia remaining a part of France, said it could not approve this.
The main pillar of their argument remained that after three self-determination referendums held between 2018 and 2021, a majority of voters had rejected independence (even though the last referendum, in December 2021, was massively boycotted by the pro-independence camp because of the covid-19 pandemic).
The anti-independence block had repeatedly stated that they would not accept any suggestion that New Caledonia could endorse a status bringing it closer to independence.
New Caledonia’s pro-France MP at the French National Assembly, Nicolas Metzdorf, told local media at this stage, his camp was de facto in opposition to Valls, “but not with the pro-independence camp”.
Metzdorf said a number of issues could very well be settled by talking to the pro-independence camp.
Electoral roll issue sensitive This included the very sensitive issue of New Caledonia’s electoral roll, and conditions of eligibility at the next provincial elections.
🔴 Mesures administratives 🔴
À l’approche de la date d’anniversaire du début des émeutes de 2024, le Haut-commissaire, en lien avec les élus et responsables du monde économique, annonce les mesures suivante du 12 au 15 mai 2025 :
— Haut-commissariat en Nouvelle-Calédonie 🇫🇷 (@HC98800) May 10, 2025
Direct contacts with Macron Both Metzdorf and Backès also said during interviews with local media that in the midst of their “conclave” negotiations, they had had contacts as high as French President Emmanuel Macron, asking him whether he was aware of the “sovereignty with France” plan and if he endorsed it.
Another pro-France leader, Virginie Ruffenach (Le Rassemblement-Les Républicains), also confirmed she had similar exchanges, through her party Les Républicains, with French Minister of Home Affairs Bruno Retailleau, from the same right-wing party.
As Minister of Home Affairs, Retailleau would have to be involved later in the New Caledonian issue.
Divided reactions Since minister Valls’s departure, reactions were still flowing at the weekend from across New Caledonia’s political chessboard.
“We have to admit frankly that no agreement was struck”, Valls said last week during a media conference.
“Maybe the minds were not mature yet.”
But he said France would now appoint a “follow up committee” to keep working on the “positive points” already identified between all parties.
During numerous press conferences and interviews, anti-independence leaders have consistently maintained that the draft compromise put to them by Minister Valls during the latest round of negotiations last week, was not acceptable.
They said this was because it contained several elements of “independence-association”, including the transfer of key powers from Paris to Nouméa, a project of “dual citizenship” and possibly a seat at the United Nations.
“In proposing this solution, minister [Valls] was biased and blocked the negotiations. So he has prevented the advent of an agreement”, pro-France Les Loyalistes and Southern Province President leader Sonia Backès told public broadcaster NC la 1ère on Sunday.
“For us, an independence association was out of the question because the majority of [New] Caledonians voted three time against independence,” she said.
More provincial power plan Instead, the Le Rassemblement-LR and Les Loyalistes bloc were advocating a project that would provide more powers to each of the three provinces, including in terms of tax revenue collection.
The project, often described as a de facto partition, however, was not retained in the latest phases of the negotiations, because it contravened France’s constitutional principle of a united and indivisible nation.
“But no agreement does not mean chaos”, Backès said.
On the contrary, she believes that by not agreeing to the French minister’s deal plan, her camp had “averted disaster for New Caledonia”.
“Tomorrow, there will be another minister . . . and another project”, she said, implicitly betting on Valls’s departure.
On the pro-independence front, a moderate “UNI” (National Union For Independence) said a in a statement even though negotiations did not eventuate into a comprehensive agreement, the French State’s commitment and method had allowed to offer “clear and transparent terms of negotiations on New Caledonia’s institutional and political future”.
The main FLNKS group, mainly consisting of pro-independence Union Calédonienne (UC) party, also said that even though no agreement could be found as a result of the latest round of talks, the whole project could be regarded as “advances” and “one more step . . . not a failure” in New Caledonia’s decolonisation, as specified in the 1998 Nouméa Accord, FLNKS chief negotiator and UC party president Emmanuel Tjibaou said.
Deplored the empty outcome Other parties involved in the talks, including Eveil Océanien and Calédonie Ensemble, have deplored the empty outcome of talks last week.
They called it a “collective failure” and stressed that above all, reaching a consensual solution was the only way forward, and that the forthcoming elections and the preceding campaign could bear the risk of further radicalisation and potential violence.
In the economic and business sector, the conclave’s inconclusive outcome has brought more anxiety and uncertainty.
“What businesses need, now, is political stability, confidence. But without a political agreement that many of us were hoping for, the confidence and visibility is not there, there’s no investment”, New Caledonia’s MEDEF-NC (Business Leaders Union) vice-president Bertrand Courte told NC La Première.
As a result of the May 2024 riots, more than 600 businesses, mainly in Nouméa, were destroyed, causing the loss of more than 10,000 jobs.
Over the past 12 months, New Caledonia GDP (gross domestic product) has shrunk by an estimated 10 to 15 percent, according to the latest figures produced by New Caledonia statistical institute ISEE.
What next? Crucial provincial elections As no agreement was found, the next course of action for New Caledonia was to hold provincial elections no later than 30 November 2025, under the existing system, which still restricts the list of persons eligible to vote at those local elections.
The makeup of the electoral roll for local polls was the very issue that triggered the May 2024 riots, as the French Parliament, at the time, had endorsed a Constitutional amendment to push through opening the list.
At the time, the pro-independence camp argued the changes to eligibility conditions would eventually “dilute” their votes and make indigenous Kanaks a minority in their own country.
The Constitutional bill was abandoned after the May 2024 rots.
The sensitive issue remains part of the comprehensive pact that Valls had been working on for the past four months.
The provincial elections are crucial in that they also determine the proportional makeup of New Caledonia’s Congress and its government and president.
The provincial elections, initially scheduled to take place in May 2024, and later in December 2024, and finally no later than 30 November 2025, were already postponed twice.
Even if the provincial elections are held later this year (under the current “frozen” rules), the anti-independence camp has already announced it would contest its result.
According to the anti-independence camp, the current restrictions on New Caledonia’s electoral roll contradict democratic principles and have to be “unfrozen” and opened up to any citizen residing for more than 10 uninterrupted years.
The present electoral roll is “frozen”, which means it only allows citizens who have have been livingin New Caledonia before November 1998 to cast their vote at local elections.
The case could be brought to the French Constitutional Council, or even higher, to a European or international level, said pro-France politicians.
This article is republished under a community partnership agreement with RNZ.
Source: The White House
Joint Statement on U.S.-China Economic and Trade Meeting in Geneva
The Government of the United States of America (the “United States”) and the Government of the People’s Republic of China (“China”),
Recognizing the importance of their bilateral economic and trade relationship to both countries and the global economy;
Recognizing the importance of a sustainable, long-term, and mutually beneficial economic and trade relationship;
Reflecting on their recent discussions and believing that continued discussions have the potential to address the concerns of each side in their economic and trade relationship; and
Moving forward in the spirit of mutual opening, continued communication, cooperation, and mutual respect;
The Parties commit to take the following actions by May 14, 2025:
The United States will (i) modify the application of the additional ad valorem rate of duty on articles of China (including articles of the Hong Kong Special Administrative Region and the Macau Special Administrative Region) set forth in Executive Order 14257 of April 2, 2025, by suspending 24 percentage points of that rate for an initial period of 90 days, while retaining the remaining ad valorem rate of 10 percent on those articles pursuant to the terms of said Order; and (ii) removing the modified additional ad valorem rates of duty on those articles imposed by Executive Order 14259 of April 8, 2025 and Executive Order 14266 of April 9, 2025.
China will (i) modify accordingly the application of the additional ad valorem rate of duty on articles of the United States set forth in Announcement of the Customs Tariff Commission of the State Council No. 4 of 2025, by suspending 24 percentage points of that rate for an initial period of 90 days, while retaining the remaining additional ad valorem rate of 10 percent on those articles, and removing the modified additional ad valorem rates of duty on those articles imposed by Announcement of the Customs Tariff Commission of the State Council No. 5 of 2025 and Announcement of the Customs Tariff Commission of the State Council No. 6 of 2025; and (ii) adopt all necessary administrative measures to suspend or remove the non-tariff countermeasures taken against the United States since April 2, 2025.
After taking the aforementioned actions, the Parties will establish a mechanism to continue discussions about economic and trade relations. The representative from the Chinese side for these discussions will be He Lifeng, Vice Premier of the State Council, and the representatives from the U.S. side will be Scott Bessent, Secretary of the Treasury, and Jamieson Greer, United States Trade Representative. These discussions may be conducted alternately in China and the United States, or a third country upon agreement of the Parties. As required, the two sides may conduct working-level consultations on relevant economic and trade issues.
The Andhra Pradesh government has granted property tax exemption to houses owned by Indian Defence personnel within the gram panchayat limits in the state.
Deputy Chief Minister Pawan Kalyan made an announcement to this effect through a post on ‘X’ on Sunday night.
The Jana Sena leader stated that the NDA government under the leadership of Chief Minister N. Chandrababu Naidu has taken a decision as a mark of deep respect and gratitude to brave soldiers.
“The Panchayat Raj Department has taken a significant decision, to grant property tax exemption to houses belonging to personnel of the Indian Defence Forces within Gram Panchayat limits. This decision honours the unwavering courage of our defence forces Army, Navy, and Air Force, Paramilitary, CRPF personnel who dedicate their lives for the security of our nation,” stated Pawan Kalyan.
The actor-politician mentioned that until now, this exemption was available only to retired army personnel or those serving on the borders. “Today, we have decided to go a step further. From now on, all active personnel of the Indian Defence Forces, regardless of where they are posted, will be eligible for this benefit. The exemption will apply to one house in which they or their spouse reside or jointly own,” he said.
The Deputy Chief Minister said that this decision has been taken based on the recommendation of the Director of Sainik Welfare and stands as a token of Andhra Pradesh’s gratitude to the uniformed heroes. “Our government stands firmly with every soldier and their family. Their service is priceless, and it is our duty to honour it in every way possible,” he added.
Pawan Kalyan on Sunday paid his last respects to soldier Murali Naik, who was killed in cross-border firing along the Line of Control in Jammu and Kashmir during Operation Sindoor.
The Deputy Chief Minister stated that Murali’s journey from the tribal hamlet of Gorantla, Kallithanda village in Sri Sathya Sai district, to the frontlines of National Defence as Agniveer is marked by his determination and great love for the motherland.
“Even though he had other career opportunities, he chose to join the Indian Army. This reflects his extreme level of commitment to serve the Nation. Murali Naik’s story of sacrifice is an embodiment of the countless heroes who stand tall at our borders amid severe challenges and tough conditions, with their unwavering resolve to safeguard and shield our country. The overwhelming crowd that gathered to honour the soldier is a testament to show that his family is not alone,” Pawan Kalyan said.
The state government announced ex gratia of Rs 50 lakh for Murali Naik’s parents, along with the allotment of five acres of agricultural land, and a 300-square-yard house site.
Pawan Kalyan announced Rs 25 lakh for the family on his personal behalf.
Indian cricket stalwart and former captain Virat Kohli on Monday announced his retirement from Test cricket.
The decision came after it was reported that Kohli had communicated his decision to the Board of Control for Cricket in India (BCCI) ahead of next month’s five-match Test series against England.
“It’s been 14 years since I first wore the baggy blue in Test cricket. Honestly, I never imagined the journey this format would take me on. It’s tested me, shaped me, and taught me lessons I’ll carry for life,” Kohli wrote in his Instagram post.
“There’s something deeply personal about playing in whites. The quiet grind, the long days, the small moments that no one sees but that stay with you forever. As I step away from this format, it’s not easy — but it feels right. I’ve given it everything I had, and it’s given me back so much more than I could’ve hoped for.
“I’m walking away with a heart full of gratitude — for the game, for the people I shared the field with, and for every single person who made me feel seen along the way. I’ll always look back at my Test career with a smile. #269, signing off,” he added.
In less than a week, both Kohli and Rohit Sharma have retired from the longest format of the game which will leave the Indian team without much experience in the batting department.
Kohli, who made his Test debut in 2011, has been a cornerstone of India’s red-ball resurgence over the past decade. His aggressive captaincy, prolific batting and unmatched intensity have helped transform India into a formidable Test side both at home and abroad.
Kohli will bid adieu to his Test career with 9230 runs in 123 matches at an impressive average of 46.85 with 30 centuries and 51 half-centuries. He hangs up his spikes as the fourth-most successful Test captain overall, behind Graeme Smith (53 wins), Ricky Ponting (48 wins), and Steve Waugh (41 wins).
Kohli’s 30 Test centuries make him the fourth-most successful India batter, behind Sachin Tendulkar (51 hundreds), Rahul Dravid (36), and Sunil Gavaskar (34). Kohli also made seven Test double hundreds, the most ever by an Indian. He also has the most Test hundreds by an Indian captain, with Gavaskar (11 centuries) way behind his 20 tons.
The right-handed batter previously announced his retirement from the T20I format after India’s T20 World Cup triumph last year. The 36-year-old will now only feature in ODI cricket for India.
Source: ASEAN – Association of SouthEast Asian Nations
Dr. Kao Kim Hourn, Secretary-General of ASEAN, attended a luncheon hosted by the Deputy Vice-Chancellor of the University of Auckland. In his brief remarks, Dr. Kao underscored the importance of academic cooperation and exchanged views on potential collaboration to foster regional innovation and strengthen ASEAN–New Zealand educational ties, in commemoration of the 50th Anniversary of ASEAN–New Zealand dialogue relations.
The post ASEAN Secretary-General joins Luncheon Hosted by Deputy Vice-Chancellor of the University of Auckland appeared first on ASEAN Main Portal.
Source: ASEAN – Association of SouthEast Asian Nations
During his working visit to New Zealand, Secretary-General of ASEAN, Dr. Kao Kim Hourn, met with representatives from Plant & Food Research Ltd to discuss the role of science and technology in transforming food production methods. He encouraged the company to collaborate closely with the ASEAN Secretariat in identifying and implementing meaningful projects and programmes aimed at promoting regenerative agriculture, reducing greenhouse gas emissions, minimizing the use of harmful agrochemicals, and advancing the adoption of innovative technologies in agricultural production.
The post Secretary-General of ASEAN visits Plant & Food Research Ltd in Auckland, New Zealand appeared first on ASEAN Main Portal.
Source: United States House of Representatives – Representative Bennie G Thompson (D-MS)
May 8, 2025
BOLTON, MS – Congressman Bennie G. Thompson (D-MS) today announced that the U.S. Department of Transportation has awarded more than $2.4 million in federal funds to support airport improvement projects in communities across Mississippi’s Second Congressional District. The grants, awarded through the Federal Aviation Administration’s (FAA) FY25 Airport Infrastructure Grant (AIG) program, will fund critical upgrades to improve safety, efficiency, and operations at six local airports.
“These grants are meaningful investments in our district’s infrastructure,” said Congressman Thompson. “They help ensure our local airports can continue serving travelers, businesses, and emergency responders effectively while supporting jobs and economic growth right here at home.”
The following airports will receive FAA funding:
Indianola Municipal Airport–$448,310 Rehabilitates 5,000 feet of the existing access road to extend its useful life. (Applicant: City of Indianola)
Vicksburg Municipal Airport–$76,000 Replaces an aging emergency generator to ensure reliable airport power and prevent outages. (Applicant: City of Vicksburg)
John Bell Williams Airport –$855,000 Constructs three new 3,900 sq. ft. box hangars for aircraft storage to generate airport revenue and support self-sufficiency. (Applicant: Hinds Community College-Raymond)
Greenville Mid-Delta Airport–$380,000 Installs new cured-in-place pipes to improve structural integrity and bring the airport up to code. (Applicant: City of Greenville)
Cleveland Municipal Airport–$282,000 Supports Phase 3 construction of a 12,000 sq. ft. aircraft hangar and reimburses work completed in June 2024. (Applicant: City of Cleveland)
Yazoo County Airport –$409,450 Reconstructs sod shoulders on Runway 17/35 to improve drainage and meet federal safety grading standards. (Applicant: County of Yazoo)
India is set to present its case before the International Monetary Fund (IMF) on Friday, urging a review of financial aid extended to Pakistan.
Foreign Secretary Vikram Misri confirmed that India’s position would be officially conveyed during a board meeting of the IMF in Washington. “I’m sure our Executive Director will put forward India’s position,” Misri told reporters at a media briefing on Thursday.
Misri did not mince words in his criticism of Pakistan’s use of IMF funds, suggesting that the aid indirectly enables Islamabad to support military intelligence operations and terrorist groups, including Lashkar-e-Toiba (LeT) and Jaish-e-Mohammed (JeM).
He noted that Pakistan has historically failed to fulfil the conditions attached to IMF assistance. “Many of the 24 IMF bailout packages given to Pakistan never reached a successful conclusion,” Misri said, adding that “the case about Pakistan should be self-evident to those who generously open their pockets.”
India’s renewed call for a review of Pakistan’s IMF funding comes days after its military launched “Operation Sindoor,” targeting terror infrastructure in Pakistan and Pakistan-Occupied Kashmir (PoK). The operation was carried out in response to the April 22 Pahalgam terror attack, which killed 26 civilians.
Indian benchmark indices opened lower on Friday in line with expectations, as geopolitical tensions between India and Pakistan escalated.
At 9:23 am, the Sensex was down 529 points or 0.66% at 79,805, while the Nifty declined 207 points or 0.85% to 24,066.
Weakness was also observed in the broader markets. The Nifty Midcap 100 index dropped 509 points or 0.96% to 52,719, and the Nifty Smallcap 100 index fell 232 points or 1.44% to 15,951.
“After a negative opening, Nifty can find support at 24,000, followed by 23,800 and 23,700. On the upside, 24,300 is an immediate resistance level, followed by 24,400 and 24,500,” said Hardik Matalia of Choice Broking.
Across sectoral indices, auto, IT, financial services, pharma, FMCG, realty, and energy were among the top laggards.
In the Sensex pack, Titan, L&T, Tata Motors, and Asian Paints emerged as top gainers. On the other hand, Power Grid, UltraTech Cement, ICICI Bank, HDFC Bank, HCL Tech, Tata Steel, Bajaj Finance, Bajaj Finserv, Sun Pharma, HUL, and Bharti Airtel were the major losers.
The ongoing uncertainty continues to keep traders on edge, casting a shadow over market sentiment amid continued geopolitical stress.
“Until the volatility—reflected in the elevated India VIX—eases, we recommend a hedged strategy to navigate the current environment, with a focus on selective stock picking,” said Ajit Mishra, SVP – Research, Religare Broking.
Asian markets were trading mixed. Tokyo, Bangkok, and Jakarta were in the green, while Shanghai and Hong Kong were in the red.
US markets closed higher, buoyed by positive developments related to trade tariffs.
Meanwhile, foreign institutional investors (FIIs) remained net buyers for the 16th straight session on May 8, purchasing equities worth ₹2,007 crore. In contrast, domestic institutional investors (DIIs) sold equities worth ₹596 crore on the same day.
Indian stock markets ended in the red on Tuesday as rising geopolitical tensions dampened investor sentiment, triggering broad-based selling across sectors.
The Sensex slipped by 155.77 points, or 0.19 per cent, to settle at 80,641.07, while the Nifty declined more sharply by 81.55 points, or 0.33 per cent, closing at 24,379.60.
Several major stocks dragged the indices lower. Eternal (formerly Zomato), State Bank of India (SBI), Tata Motors, and NTPC were among the top losers on the Sensex, falling between 1.94 per cent and 3.15 per cent.
However, some stocks managed to buck the trend. Bharti Airtel, Tata Steel, Mahindra & Mahindra, Hindustan Unilever, and Nestlé India were among the ten Sensex gainers, with Bharti Airtel rising by 1.66 per cent.
Selling pressure was more pronounced in the broader market. The Nifty Midcap 100 index fell by 2.27 per cent, while the Nifty Smallcap 100 declined by 2.50 per cent, indicating deeper losses beyond frontline stocks.
Barring Nifty Auto, all sectoral indices on the NSE ended in negative territory, with Nifty PSU Bank emerging as the worst performer.
Out of 12 stocks in the PSU Bank index, 11 closed in the red, pulling the index down by 1.18 per cent to end the session at 54,271.40.
Among major drags, Bank of Baroda plunged 10.91 per cent, followed by Union Bank of India and Bank of India, which fell 6.19 per cent and 6.33 per cent, respectively.
The real estate sector also witnessed heavy losses. The Nifty Realty index declined by 3.58 per cent, led by a 6.36 per cent drop in Godrej Properties and a 4.96 per cent fall in Sobha Limited.
Adding to market jitters, the India VIX, often referred to as the fear index, rose by 3.58 per cent to 19 points, signalling heightened volatility.
The decline across indices reflects rising investor caution, with profit booking and weak global cues contributing to the negative sentiment, market experts noted.
India is on track to become the world’s fourth-largest economy in 2025, overtaking Japan, according to the latest World Economic Outlook released by the International Monetary Fund (IMF). The report estimates India’s nominal GDP will reach 4,187.02 billion dollars next year, marginally ahead of Japan’s 4,186.43 billion dollars.
The IMF forecasts that India will continue to be the fastest-growing major economy, maintaining a growth rate above 6 per cent over the next two years. In contrast, Japan is expected to see muted growth of just 0.6 per cent in both 2025 and 2026, as the global trade slowdown weighs on its export-driven economy.
India’s strong economic momentum is likely to propel it further up the global rankings. By 2028, the country’s GDP is projected to rise to 5,584.48 billion dollars, placing it ahead of Germany and making it the third-largest economy globally.
Germany, currently the fourth-largest, is expected to be among the worst affected European economies due to ongoing trade tensions. The IMF projects zero growth for Germany in 2025, followed by a modest recovery of 0.9 per cent in 2026. Its GDP is estimated to reach 5,251.93 billion dollars by 2028.
The United States will retain its position as the world’s largest economy, with a projected GDP of 30,507.22 billion dollars in 2025. China, the second-largest, is expected to record a GDP of 19,231.71 billion dollars.
The IMF notes that the US economy, having initiated a wave of global tariffs, is showing signs of a slowdown. Growth is forecast to dip to 1.8 per cent this year and 1.7 per cent in 2026.
The Euro Area is also likely to witness sluggish growth, with an expected expansion of just 0.8 per cent in 2025, picking up slightly to 1.2 per cent in 2026. France is projected to grow at 0.6 per cent and 1 per cent in the next two years, respectively.
Spain is expected to outperform its peers with a 2.5 per cent growth rate in 2025, although this is likely to ease to 1.8 per cent in 2026. The United Kingdom is forecast to grow at 1.1 per cent and 1.4 per cent during the same period.
The Indian rupee is expected to remain stable in the range of Rs 85-87 against the US dollar through 2025, according to a recent report released by the State Bank of India (SBI).
The report highlighted several global and domestic factors that are likely to support the rupee and maintain stability in the USD/INR currency pair over the coming months.
“We expect the USD/INR pair to stabilize in the range Rs 85-87 for 2025, The domestic impact of tariffs on dollar will be visible in 2025 which will support rupee” the report noted.
SBI further pointed out that the DXY index, which tracks the strength of the US dollar against a basket of major currencies, is expected to decline as the US domestic economy adjusts to the impact of tariffs. A softer dollar would support emerging market currencies like the Indian rupee.
The report also referred to the Non-Deliverable Forward (NDF) market for USD/INR. The May 2026 USD/INR NDF is currently factoring in a rate of around Rs 85.87 to Rs 86 per dollar over a 12-month horizon, reflecting expectations of limited volatility in the currency pair going forward.
On the macroeconomic front, the report highlighted recent data from the United States. Annual inflation in the US eased to 2.4 per cent in March 2025. At the same time, the nonfarm payroll employment rose by 177,000 in April, while the unemployment rate remained steady at 4.2 percent.
However, the report cautioned that the full impact of tariffs on US inflation is yet to be reflected in the data. Successive inflation readings could come in higher, especially if short-term inflation expectations rise sharply.
Given the dual mandate of the US Federal Reserve — focusing on inflation and employment — the report suggests that the Fed may choose to hold interest rates steady in its next two policy cycles.
“A pause signal is unequivocal based on recent statements,” SBI added.
The interplay of these factors — a steady Fed, easing US inflation, and tariff effects — is likely to create a supportive environment for the Indian rupee in 2025, SBI concluded.
More than 100 people have died after flooding in a village near the shores of Lake Tanganyika in eastern Democratic Republic of Congo (DRC), a local official said.
The flooding, which affected the village of Kasaba, comes at a vulnerable moment for the Central African nation. Rwanda-backed M23 rebels have intensified an offensive in the eastern region since the start of the year, with thousands killed in fighting in the first two months of the year.
Samy Kalodji, administrator of Fizi territory in South Kivu province where the village is located, said late on Saturday that reports from the area “indicated more than 100 deaths.”
The affected area is still under the administration of Kinshasa and is not among the zones taken by M23.
Didier Luganywa, spokesperson for the South Kivu government, said in a statement the flooding incident occurred between Thursday night and Friday when torrential rains and strong winds caused the Kasaba river to overflow its banks.
The statement gave a toll of 62 confirmed deaths with 30 injured.
Local officials said the Kasaba area was only accessible via Lake Tanganyika and was not covered by the mobile phone network, which could delay humanitarian relief efforts.
Monsoon rains are expected to hit India’s southern coast on May 27, five days earlier than usual, marking the earliest arrival in at least five years, the weather office said, raising hopes for bumper harvests of crops such as rice, corn, and soybean.
The monsoon, the lifeblood of the country’s $4 trillion economy, delivers nearly 70% of the rain that India needs to water farms and recharge aquifers and reservoirs. Nearly half of India’s farmland, without any irrigation cover, depends on the annual June-September rains to grow a number of crops.
Forecasts of early and abundant monsoon rains are expected to alleviate concerns about potential risks to food supplies amid the current military conflict between India, the world’s most populous nation, and its neighbour Pakistan.
Summer rains usually begin to lash the southernmost coasts of Kerala state around June 1 and spread across the whole country by mid-July, triggering the planting of crops such as rice, corn, cotton, soybeans, and sugarcane.
The monsoon onset over Kerala is likely to be on May 27, with a model error of plus/minus four days, the India Meteorological Department said on Saturday.
Last year, the monsoon reached the coast of Kerala on May 30, and overall summer rains were the highest since 2020, helping the country recover from a drought of 2023.
The India Meteorological Department last month forecast above-average monsoon rains for the second straight year in 2025.
The department defines average or normal rainfall as ranging between 96% and 104% of a 50-year average of 87 cm (35 inches) for the four-month season.
Early monsoon rains will encourage farmers in India, the world’s largest rice exporter, to start planting earlier.
The Brazilian presidency of COP30, this year’s climate summit, called for new global climate governance mechanisms to help nations implement their commitments to curb global warming, according to a letter it released on Thursday.
The summit, to be hosted in the Amazonian city of Belem in November, marks the 10th anniversary of the Paris Accord, when signatories agreed to limit warming to well below 2 degrees Celsius from pre-industrial levels.
Though nations have so far committed to plans that would limit warming to around 2.6 degrees Celsius, many are struggling to get their proposals off the drawing board and to lower carbon emissions enough to stop the planet from heating to catastrophic levels.
According to the letter by the COP30 presidency, “the international community should investigate how climate cooperation could become better equipped to accelerate” implementation.
The proposal was first introduced by Brazilian President Luiz Inacio Lula da Silva last November, during the G20 summit in Rio de Janeiro. At the time, Lula proposed creating a “United Nations climate change council” to help countries implement commitments they made to address climate change as part of the 2015 Paris Agreement.
“There’s no point in negotiating new commitments if we don’t have an effective mechanism to accelerate the implementation of the Paris Agreement,” Lula said. “We need stronger climate governance.”
The proposal has now been adopted by Brazilian ambassador Andre Correa do Lago, who will preside over COP30. Correa do Lago argued that, after decades of debates, the Climate Convention, known as the UNFCCC, has completed necessary negotiations but lacks implementation capacity.
“The UNFCCC and the Paris Agreement don’t have the strength or mandate to take this forward, so we’re proposing to reconsider how we can institutionally strengthen implementation,” Lago told journalists on Wednesday.
The COP Presidency letter suggests that the United Nations General Assembly, not COP30 itself, should be the forum for this discussion.
“Debates at the U.N. General Assembly could explore innovative governance approaches to endow international cooperation with capabilities for rapid sharing of data, knowledge and intelligence, as well as for leveraging networks, aggregating efforts and articulating resources, processes, mechanisms and actors within and outside the U.N.,” the letter states.
Sources in the Brazilian government told Reuters that while the creation of a U.N. Climate Council features in Lula’s diplomatic discussions with world leaders, immediate results are not anticipated in the short term.
“It’s still an initial convincing effort,” one source said.
Widespread unseasonal showers lashed Gujarat over the past 24 hours, bringing cloudy skies and intermittent rain to several parts of the state. The India Meteorological Department (IMD) has forecast that this spell of unseasonal rainfall and thunderstorms will persist across the state until May 9.
According to data from the State Emergency Centre in Gandhinagar, Kapadvanj in Kheda district recorded the highest rainfall at 40 mm (1.57 inches). Close behind were Mansa (Gandhinagar) and Sihor (Bhavnagar), each registering 37 mm (1.46 inches), followed by Jotana (Mehsana) at 31 mm (1.22 inches).
Vadodara city received 30 mm (1.18 inches), while Mehsana and Kadi talukas recorded 28 mm and 27 mm, respectively, matching the total recorded in Bhavnagar city.
Other talukas reporting notable rainfall included Dolvan (26 mm), Nadiad and Khanpur (25 mm each), and Dasada (24 mm). All these areas received around or over an inch of rain, an unusual occurrence for May, typically one of the hottest and driest months in Gujarat.
The showers followed dust storms that swept across parts of the state around 6 p.m. on Monday, ushering in cooler temperatures after a prolonged heatwave, where mercury levels had crossed 42°C. Many described the sudden weather change as reminiscent of the early monsoon.
While Ahmedabad did not feature among the top rain-hit regions, it experienced its first widespread thunderstorm and rain event of the year on Monday.
However, the unseasonal rain has severely impacted agriculture, particularly the mango crop, with Kesar and Alphonso varieties at their crucial fruiting stage. The downpour and accompanying hail have caused fruit drop, skin blemishes, and increased the risk of fungal infections, jeopardizing both the quality and market value of the produce.
Other summer crops like sorghum (jowar) and millet (bajra), sensitive to excess moisture during flowering and grain formation, are also at risk of yield loss and disease.
Sesame (til), another key summer crop, is particularly vulnerable to hail damage and waterlogging, which can result in discoloration, fungal infections, and in severe cases, total crop failure.
(With IANS inputs)
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About DDI
A coalition of Democratic state attorneys general sued on Monday in a bid to block President Donald Trump’s move to suspend leasing and permitting of new wind projects, saying it threatens to cripple the wind industry and a key source of clean energy.
Seventeen states and the District of Columbia in a lawsuit filed in federal court in Boston argued that the decision by the Republican president’s administration to indefinitely pause all federal wind-energy approvals is unlawful and must be blocked.
The lawsuit, led by New York state, accused Trump of exceeding his authority and said his administration violated federal administrative law by not offering any detailed justification for the suspension.
“This administration is devastating one of our nation’s fastest-growing sources of clean, reliable and affordable energy,” New York Attorney General Letitia James, a Democrat, said in a statement.
The lawsuit seeks a court order declaring the indefinite pause unlawful and barring the agencies including the U.S. Departments of Commerce and Interior and the Environmental Protection Agency from implementing Trump’s directive.
White House spokesperson Taylor Rogers accused the Democratic attorneys general of “using lawfare to stop the president’s popular energy agenda.”
“The American people voted for the president to restore America’s energy dominance, and Americans in blue states should not have to pay the price of the Democrats’ radical climate agenda,” Rogers said in a statement.
Trump announced the pause on his first day back in office on January 20 when he directed his administration in a presidential memorandum to halt offshore wind lease sales and stop the issuance of permits, leases and loans for both onshore and offshore wind projects.
He did so while also moving to ramp up the federal government’s support for the fossil fuel industry and maximize output in the United States, the world’s top oil and gas producer, after campaigning for the presidency on the refrain of “drill, baby, drill.”
Trump as a candidate last year promised to end the offshore wind industry, arguing it is too expensive and hurts whales and birds. In announcing the pause, Trump again cited the expense of wind projects and said they “ruin your beautiful landscapes.”
After Trump’s memorandum, U.S. Interior Secretary Doug Burgum in April directed the Bureau of Ocean Energy Management’s acting director to order a unit of Norwegian energy firm EquinorEQNR.OL to halt construction on its Empire Wind offshore wind project off New York.
The states in their lawsuit argue that Trump’s directive harmed their efforts to secure reliable, diversified sources of energy and jeopardized billions of dollars they have already invested in the industry as part of their efforts to reduce greenhouse gas emissions to combat climate change.
In their lawsuit, the states said the agencies implementing Trump’s order never said why they were abruptly changing longstanding policy supporting wind energy development and were departing from government findings that wind projects can proceed with minimal adverse effects on the environment.
The lawsuit also said Congress never authorized the president to categorically halt wind-energy projects and that the agencies implementing the pause exceeded their authority under numerous laws including the Clean Air Act, the Endangered Species Act and the Outer Continental Shelf Lands Act.