TGV Desk
Why the Fed’s Rate Hike Matters for India
The US Federal Reserve has raised rates by 25 basis points to 3.75%-4.00% and signalled more tightening may follow. For India, the move increases pressure on the rupee, bond yields, foreign investment and the RBI’s own rate outlook as oil prices and inflation remain elevated.
CBI Books US-Based Christian Missionary Organisation Timothy Initiative and Six Others Over FCRA Violations
The CBI has booked US-based Christian missionary group The Timothy Initiative and six people over FCRA violations involving ₹92.55 crore. Investigators say foreign funds were withdrawn through US-issued debit cards at ATMs across India instead of being routed through authorised FCRA channels.
China’s Huawei Unveils New AI Chip Roadmap to Take on Nvidia
Huawei will launch the 960DT and Ascend 960PR AI chips in 2027 as it intensifies its challenge to Nvidia. The Chinese company is betting on large-scale chip clusters and its UnifiedBus networking technology to narrow the performance gap despite continuing US export restrictions.
EU Opens Door to Canada Becoming Its First ‘Associate Member’
EU chief Ursula von der Leyen has proposed making Canada the bloc’s first “associate member”, opening the door to an unprecedented new relationship. The status does not yet exist in EU law, but could deepen cooperation in defence, trade, energy, technology and critical minerals.
Meta Rejects Calls for Industry-Wide AI Slowdown
Meta CEO Mark Zuckerberg has rejected calls for an industry-wide slowdown in advanced AI development, arguing that individual companies can manage safety risks themselves. The stance puts Meta at odds with OpenAI and Anthropic, which are pushing for coordinated efforts to pace frontier AI.
EU Calls China Trade Deficit “Unsustainable” and Warns of Tougher Action
The EU has declared its trade deficit with China “unsustainable” after the gap reached €359.8 billion in 2025. Brussels says Chinese overcapacity, weak European exports and dependence on critical supply chains are now forcing it to consider tougher trade and industrial measures.
Houthis Claim They Shot Down Saudi F-15 Over Yemen
Yemen’s Houthis say they shot down a Saudi F-15 over Marib using a locally made missile as fighting intensifies across the country. Saudi Arabia has not confirmed losing an aircraft, and no independently verified evidence of the alleged shootdown has yet emerged.
India Says Pakistan Violated 1991 Naval Safety Pact After Collision
An Indian and Pakistani naval vessel collided in international waters in the northern Arabian Sea on September 15. India blamed the Pakistani unit for approaching at high speed, summoned Islamabad’s top diplomat and said the incident violated a 1991 bilateral naval safety agreement.
How Did Half a Million Fake Gmail Accounts Slip Through Google’s Safeguards?
A Gujarat bomb-hoax investigation has uncovered credentials for 513,847 Gmail accounts allegedly linked to a fake-ID network operating since 2022. Two people have been arrested, and police now plan to question Google over how the accounts bypassed verification safeguards.
India Introduces Fees on Larger UPI Merchant Payments
From October 15, selected UPI merchant payments above ₹2,000 will attract a 0.4% MDR, capped at ₹300. Consumers and person-to-person transfers remain free, while the government says 96% of merchant transactions will still face no charge.
New Zealand Parliament Approves Landmark Free-Trade Deal With India
New Zealand’s Parliament has approved legislation implementing its landmark FTA with India. Once the deal enters into force, all Indian exports to New Zealand will receive duty-free access, while tariffs will be cut or removed on around 95% of New Zealand’s exports to India.
Germany and US Sign New Defence-Industry Cooperation Pact
Germany and the United States have signed a new defence-industry pact aimed at speeding procurement, strengthening supply chains and expanding joint weapons production. The deal reflects a wider NATO push to rebuild military stockpiles and fix the industrial bottlenecks exposed by the Ukraine war.