Nine boxers from India’s U-23 women’s team advanced to the semifinals of the Asian U-19 & U-23 Boxing Championships, guaranteeing medals after a strong showing in the last-eight stage bouts held across afternoon and evening sessions in Jakarta on Wednesday.

In the afternoon session, Tanu (51kg) defeated Thailand’s Kewalin Norasing by a unanimous decision of 5:0, while Nisha (54kg) similarly defeated Kazakhstan’s Aliaksar Symbat by a decisive score of 5:0. Gulnaz Buribayeva of Kazakhstan defeated Nidhi by a slim 3:2 split decision despite her fierce fight in the 48kg event.

Prachi (57kg) maintained India’s momentum in the evening session, defeating South Korea’s Yejin Oh by RSC in the first round with a dominant victory. Kajal (65kg) defeated Japan’s Arinda Akimoto in a fiercely contested 4:1 split decision, while Nikita Chand (60kg) followed it up with a clinical triumph over Chinese Taipei’s Chen-Xuan Ye by RSC in the third round.

India has guaranteed a total of nine medals in the U-23 women’s competition, as all semifinalists are guaranteed podium finishes with these findings. Tanu (51kg), Nisha (54kg), Prachi (57kg), Nikita Chand (60kg), Kajal (65kg), Shivani (70kg), Muskan (75kg), Naina (80kg), and Priyanka (+80kg) are the boxers who have advanced to the semifinals.

India’s commanding performance in the women’s division demonstrates its increasing strength and depth at the continental level, with a number of fighters now vying for gold medals.

India’s rising talent continues to have a great opportunity to succeed on the global stage at the Asian U-19 and U-23 Boxing Championships, which are being place in Jakarta from July 5 to July 16.

Changes to the Foreign Portfolio Investors (FPI) Regulations have been notified by the Securities and Exchange Board of India (SEBI). These changes replace the dollar-denominated fee system with a rupee-denominated payment mechanism for foreign venture capital investors (FVCIs) and foreign investors.

The new system will go into effect in six months, giving foreign investors and intermediaries enough time to make the transition.

The existing fee of $1,000, according to a SEBI announcement, has been changed to Rs 90,000 in qualifying foreign currency equivalent.

From $2,500 to Rs 2. 3 lakh, the registration cost for FPIs and FVCI in Category-I has also been changed. In a similar vein, the market regulator has modified the late charge and continuance charge.

In accordance with the revised regulations, designated depository participants (DDPs) will be compelled to transfer the costs obtained from FPIs and FVCIs to SEBI within five working days after registration.

The regulator has also streamlined the registration procedure by adding the date of birth or date of incorporation in the common application form for FPI registration.

The change is designed to make it simpler to apply for Permanent Account Numbers (PANs), in accordance with the Central Board of Direct Taxes (CBDT) notice published in March.

For the financial year 2025-26, Sebi gathered $12. 98 million, inclusive of GST, via the continuation, registration, and other fees paid by FPIs and FVCIs.

According to the regulator, the shift to a rupee-denominated fee system addresses operational issues with the current dollar-based system, such as manual accounting and invoicing, a lack of real-time accounting visibility, and delays in financial reporting.

Furthermore, the regulator has changed the fee payment system for custodians, switching from a monthly payment of Rs 85,000 to an annual payment of Rs 10 lakh.

The government has completed the framework for India’s first Index of Services Production (ISP), with the trial monthly series slated to be released on July 14, marking a significant move towards improving the measurement of the country’s services sector.

According to the Ministry of Statistics and Programme Implementation (MoSPI), the proposed ISP will offer a thorough monthly assessment of short-term movements in India’s formal services industry for the first time and supplement the current Index of Industrial Production (IIP).

With a contribution of around 53% to India’s Gross Value Added (GVA), the services sector is a major source of jobs and has become a driving force behind economic expansion, investment, and exports.

Monthly data on outward supplies reported by millions of businesses, according to the ministry, has greatly improved India’s statistical system due to the availability of Goods and Services Tax (GST) data.

MoSPI will utilize the aggregated GST data supplied by the GST network, as well as administrative datasets from the railway, aviation, banking, and insurance industries, for the suggested index.

In order to cover GST-exempt industries like health and education, data from the ASISSE (Annual Survey of Unincorporated Sector Enterprises in Services Sector and Establishments) will also be used.

Nevertheless, the ministry made it clear that it does not need or access unit-level GST data in order to create the index.

According to the statement, MoSPI established a Technical Advisory Committee on Index of Services Production (TAC-ISP) in May 2025, headed by Debjani Ghosh, Distinguished Fellow at NITI Aayog, to create the new index.

The committee conducted extensive discussions about the index’s conceptual, methodological, and operational components. Before the final report was prepared, an approach paper was issued for public feedback in April of this year.

The study suggests that the index should be compiled as a Laspeyres volume index with 2024-25 as the base year, using Gross Value Added weights, and sector-wise indices should be released at the two-digit NIC 2025 level.

The committee has additionally suggested that the sub-sectoral and aggregate indices be issued on a preliminary trial basis in order to gather stakeholder comments and confirm the methodology.

Additionally, it suggested that the ISP be compiled on a monthly basis and published within 60 days of the reference month, offering decision-makers and companies a current indicator of activity in India’s services sector.

India’s economy has become less reliant on monsoon rains over the last ten years, with expanding irrigation networks and changing cropping patterns protecting agriculture and rural demand from the kind of shocks seen in the past.

In the past, poor monsoons typically resulted in significant decreases in rural revenue and agricultural production. According to a research analyst and brokerage firm Bernstein, precipitation in 2002, for example, declined to 81% of the long-period average, resulting in a dramatic decrease in foodgrain output and a severe decline in rural disposable incomes.

However, that connection has weakened over the last ten years. It further stated that even with lower-than-normal monsoons in 2018–19 and 2023–24, India continued to report increasing foodgrain output.

The change has mostly been sparked by increased irrigation availability and a change to year-round agriculture.

According to the Bernstein report, the changing dynamics of monsoons in India necessitate a shift in how we see rainfall and its consequences.

It emphasizes how India’s irrigated land now encompasses close to 60% of its overall farmed area, up from approximately 42% in the early 2000s.

With tubewells and canals acting as significant buffers against rainfall deficits, irrigation coverage in the top agricultural states has increased to over 67% from 54% in 2009.

Additionally, India’s reliance on the monsoon-focused Kharif season has significantly decreased. Until the 1990s, kharif crops accounted for nearly 60% of total foodgrain output. However, in 2025-26, they contributed only 47% of total production. The study highlights how important rabi crops and a new summer planting season that lasts from February to May have become.

It claims that these structural changes imply that bad monsoons no longer pose an immediate threat to food security and are unlikely to hurt rural demand in the way they once did.

The Bernstein study indicates that although minimal precipitation continues to be harmful, it is unlikely to have the same negative impact on rural demand as it formerly did.

The effects of insufficient monsoons are now likely to be more subtle, affecting certain areas of the economy rather than sparking widespread suffering.

For example, food inflation risks are predicted to be more contained and focused on a select few categories, including pulses and vegetables, rather than resulting in a general increase in prices.

According to the brokerage, a record wheat harvest of approximately 121 million tonnes and increased irrigation coverage in important agricultural states like Punjab, Haryana, and Uttar Pradesh should help mitigate the effects of delayed rains.

Similarly, worries about slow Kharif seeding might be overblown. According to the study, although only about 8% of the area that is often grown had been planted by mid-June, this does not deviate much from previous patterns because the majority of Kharif planting occurs in the second week of July.

The research, though, notes that low rainfall does pose a longer-term macroeconomic issue due to increasing electricity demand and groundwater depletion. The reservoir levels have already dropped to some of the lowest points in recent memory.

Reduced rainfall could increase reliance on groundwater and electrically powered irrigation systems, driving up electricity demand from the agricultural industry and further depleting water supplies.

After the first game was rained out, England put on a clinical all-around showing to defeat Team India by 125 runs in the third T20I at Trent Bridge, grabbing a convincing 2-0 lead in the five-match series.

England must not lose this series against the reigning T20 World Cup champion since there are still two matches left to play.

England, who were requested to bat first, amassed a formidable 201/7 in their 20 overs thanks to a fluid 70 from 44 balls by Phil Salt. Sam Curran’s late cameo of 41 off just 24 deliveries ensured the hosts reached the 200-run mark after the opener hit hard at the top.

Despite dropping a few wickets quickly during the middle innings, England recovered admirably, with Jos Buttler adding 36.

Prince Yadav, a debutant for India, was the outstanding bowler, taking 2-30 and having an immediate influence by dismissing Harry Brook and subsequently eliminating the dangerous Salt. Despite making three run-outs, the visitors were unable to slow down England’s scoring rate during the final overs.

England’s sustained pace assault caused India’s batting order to fall apart in response. The guests were bowled out for just 76 in 11. 4 overs after pursuing 202, suffering one of their biggest T20I cricket losses.

Wickets tumbled in groups throughout the innings as England’s bowlers hit often, denying India any chance to establish partnerships.

The series is now completely under England’s control after their crushing victory, and India will have to win the last two games to prevent a series defeat.

Brief scores:
England 201/7 in 20 overs (Phil Salt 70, Sam Curran 41*, Jos Buttler 36; Prince Yadav 2-30)
India 76 all out in 11.4 overs (Josh Tongue 4-28, Jofra Archer 3-29, Adil Rashid 2-14) by 125 runs

Cristiano Ronaldo stated at Dallas Stadium that after Portugal’s elimination from the World Cup in the Round of 16 against Spain, he will not be competing in a seventh global final.

With 27 games, the 41-year-old’s World Cup career finishes second only to Argentina’s Lionel Messi (30), but without the one major trophy he lacks.

He scored 11 goals in 27 games and reached many milestones, including becoming the first player to score in six editions. In the current edition, he scored three goals, including two in Portugal’s 5-0 opening statement against Uzbekistan, and his first-ever World Cup knockout goal, a penalty that sent Portugal past Croatia in the last 32.

“I’m fine, sad to go out of the World Cup like this. But, as I mentioned in the press conference yesterday, I did my best and I leave with a clear conscience, he told SportTV following the game.

The existence of a football player is like that. Sometimes we lose, sometimes we win, and we must keep trying. The fact is that this was my final World Cup, and I’ll now have time to spend with my family so that I don’t make snap judgments.

The 41-year-old first competed in the FIFA World Cup in Germany in 2006, when he scored his first tournament goal against Iran and contributed to Portugal’s first semi-final in 40 years. In addition to scoring at least one goal, he went on to play at Brazil 2014, Russia 2018, South Africa 2010, and Qatar 2022.

I’ll wake up tomorrow with a clear conscience. I earned two UEFA Nations League championships and one European Championship for Portugal. Portugal had never won any championships prior to Cristiano. Hence, I go with a clear conscience. I tried my best. Life continues on, and tomorrow will be a different day.

Ronaldo assisted Portugal in winning the European Championship in 2016 and two UEFA Nations League crowns, but the World Cup continued to be out of reach.

Ronaldo’s World Cup debut occurred in 2006, when he made it to the semifinals, his deepest run ever.

WhatsApp, a Meta-backed messaging platform, has promised the Indian government that its planned username feature would not be introduced in the nation until discussions with authorities are finished.

The government notice seeking clarification on the feature has also given the Meta-owned messaging platform three more days to respond. Friday was the deadline for WhatsApp’s response.

WhatsApp had previously suggested a username function that would let users talk on the site without providing their phone numbers.

Concerns about how such a move may increase the dangers of impersonation, phishing, and online fraud were raised by the Central government last week in a formal notice.

On Friday, a Meta team met with officials from the Ministry of Electronics and Information Technology to discuss the situation after the government urged WhatsApp to put the feature on hold until the security and consumer protection issues it raises are resolved through conversation.

In preparation for a wider deployment later this year, WhatsApp restated earlier this week that the username feature has several built-in protections to ward off impersonation, frauds, and unwelcome contact.

Following concerns about the feature, including those raised by the government, which has requested that the company postpone its implementation in the nation until discussions are completed, the messaging platform responded to a number of often asked questions on X.

Users won’t have to create a username, according to the business, and existing Instagram and Facebook usernames, as well as those of public personalities, celebrities, governmental organizations, and Meta Verified accounts, have been set aside so that only their rightful owners may claim them.

BlackRock‘s Chairman and Chief Executive, Larry Fink, has stated that the greatest challenge facing artificial intelligence is no longer sophisticated computer chips but rather a lack of access to electricity, warning that the United States must update its obsolete power grid or risk delaying the next wave of technical innovation.

According to an interview with Fareed Zakaria GPS on CNN, Fink stated that the exponential rise of AI is driving an unparalleled need for computer power, which is revealing vulnerabilities in the country’s electrical grid.

Fink said that the lack of electricity is the biggest obstacle to AI development, saying that there isn’t enough power in the United States.

He stated that the US has enough energy resources, especially natural gas, but lacks the necessary transmission infrastructure to distribute electricity efficiently.

According to him, the nation possesses enough power from natural gas, but it is unable to distribute it effectively. He further stated that the country would need to invest hundreds of billions of dollars to grow and enhance its power grid.

He said that we won’t be successful in artificial intelligence if we don’t do that. Artificial intelligence is simply a collection of electrons. You therefore require the ability to produce the electrons.

Demand for AI computing capacity now outpaces supply, creating shortages in electricity and other critical infrastructure as well as advanced chips, according to Fink.

There is more demand than supply at this time, he stated. Right now, the United States is facing a lack of computing power, which I believe to be the greatest issue confronting the nation.

He cautioned that unless computer expenses decrease dramatically, smaller businesses may find it difficult to profit from the AI revolution.

Fink stated, “I’m not worried about BlackRock or J. P. Morgan having the cash to invest in these models. However, I’m quite concerned about hospitals and municipalities. Is there going to be an investment in this?

He called for increased access to AI technologies, stating that the United States must democratize AI so that small enterprises, hospitals, local governments, and transport systems may also utilize advanced AI technologies.

He stated that if we are unable to do that, we will encounter some significant structural issues.

Despite enormous investment in artificial intelligence, Fink also disregarded worries that equity markets are in a speculative bubble. Instead, he claimed that abnormally high demand had created shortages that permitted certain businesses to charge significantly higher prices for their goods.

According to Fink, the global economy’s robustness has been demonstrated by recent geopolitical crises, such as the conflict involving Iran.

He said that the global economy significantly reduced many of the pressures by diversifying supply, increasing energy output, and using technological improvements. We address problems.

Fink contended that ongoing economic expansion was the most effective method for controlling the country’s rising government debt.

He advised policymakers to encourage private investment and simplify infrastructure approvals rather than depend on higher taxes, stating that “we’re in trouble if we can’t grow the economy by three percent a year. “

India possesses one of the largest cooperative ecosystems in the world, covering almost every area of the economy, and that the Ministry of Cooperation has transformed cooperatives into drivers of inclusive growth over the last five years.

A greater effect at the local level has been made possible by improved service delivery, broader digital adoption, and more robust institutions. Rural economies have improved as a result of expanded infrastructure and improved market access. Development driven by cooperatives has opened up new possibilities for farmers and women.

July 6 marked the 5th Foundation Day of the Ministry of Cooperation, and the transformation of 50,000 Primary Agricultural Credit Societies (PACS) into e-PACS was one of the event’s most important highlights.

In order to improve the cooperative storage infrastructure, the program also saw the foundation stones for 47 grain storage godowns laid.

To enhance the management of milk procurement and distribution, the National Dairy Development Board unveiled a Milk Supply Review Dashboard Portal.

Furthermore, two NUCFDC flagship programs, Sahakar Sahyogi and Sahakar CBS, were introduced.

For metropolitan cooperative banks, Sahakar CBS offers a unified core banking solution. Customer service and banking operations are improved through Sahakar Sahyogi, an AI-powered conversational platform.

According to the factsheet, technology is becoming increasingly important for increasing cooperative governance and efficiency.

From an initial allocation of Rs 2,516 crore in 2022, the total financial outlay for the digitalization of PACS has been raised to Rs 2,925. 39 crore in 2025.

With a goal of raising milk acquisition by 50% by 2028–2029, the ‘White Revolution 2. 0’ is helping to fortify the cooperative dairy industry. According to the factsheet, there have been 25,282 dairy cooperative organizations registered thus far.

The National Cooperative Development Corporation (NCDC) has made a significant contribution to the financing of cooperatives’ expansion.

NCDC has authorized Rs 1. 55 lakh crore and paid out Rs 1. 27 lakh crore during FY2025-26. As of May 2026, the scheme has distributed Rs 2,320 crore to FPOs/Cluster-Based Business Organizations (CBBOs) for the establishment and promotion of 10,000 FPOs.

Sahakar Taxi Cooperative Limited launched Bharat Taxi. Currently, Bharat Taxi has 3. 57 million registered clients and 637,000 registered drivers.

Chandigarh, Delhi-NCR, Gujarat, Jaipur, Kanpur, Lucknow, and Mumbai are all served by the service. In the next few months, operations are expected to begin in Ranchi, Patna, Guwahati, Bhopal, Kolkata, Indore, and Nagpur.

“As India moves forward on its path of inclusive and sustainable growth, cooperatives will continue to promote fair growth and resiliency,” the official statement said.