Russia is preparing to start massive seaborne imports of gasoline from India in an effort to close a growing domestic gasoline shortage brought on by a barrage of Ukrainian drone attacks on refinery infrastructure.

According to the Kyiv Post, based in Ukraine, draft amendments to Russia’s Tax Code would expand an existing subsidy mechanism for businesses that import gasoline from India.

According to the report, the subsidy would be computed using an indicative gasoline price in India and the cost of moving fuel from Indian ports to Russia.

According to a RBC report, the media outlet said that the State Duma’s budget and tax committee has approved the measure.

A severe decline in Russian refining capacity in 2026 as attacks grew worse led to Russia’s subsidy support for Indian refined crude.

After the full-scale invasion of Ukraine, India became Russia’s largest crude purchaser, buying between 1. 5 and 2 million barrels.

It reached a record of 2. 66 million barrels per day in June 2026, some of which is processed in Indian refineries and subsequently re-exported as petroleum products, such as gasoline.

Asian nations imported a large portion of India’s overall gasoline exports, which hit a record high of 4 lakh barrels per day in 2025.

Russia’s crude processing has reached its lowest point in two decades as a result of refinery strikes, which have lowered gasoline production by about 25%.

Operating refineries are producing around 85,000 tonnes of gasoline each day, compared to a summer demand of approximately 1. 11 lakh tonnes, resulting in a structural daily deficit of about 25,000 tonnes.

The report stated that the deficit has increased to roughly 20% of domestic consumption, driving up wholesale gasoline prices beyond 100 rubles.

Due to a lack of aviation fuel and an increase in its price, Russian light aircraft operators have started replacing it with automotive gasoline, it stated.

IBM, a technology powerhouse based in the US, unveiled what it termed as the first sub-1 nanometer (nm) chip technology in the world, which represents a huge step forward for the semiconductor industry as it reaches the physical boundaries of conventional chip scaling.

The business claims that the new chip uses a nanostack, a unique three-dimensional transistor architecture, and is constructed on a 0. 7 nm, or 7-angstrom, process node.

According to the statement, the chip allows for ongoing advancements in performance and energy efficiency at atomic-scale proportions.

With nearly 100 billion transistors crammed onto a gadget about the size of a fingernail, it practically doubles the transistor density of its 2 nm chip. technology first introduced in 2021.

The firm stated that the new technology is expected to provide up to 50% higher performance or 70% higher energy efficiency than its 2 nm node processors.

It is anticipated that the technology would facilitate demanding applications such as generative AI, cloud infrastructure, and electronic devices of the next generation.

Jay Gambetta, Director of IBM Research and an IBM Fellow, stated that the company’s recent chip breakthrough represents a pivotal point in computing, advancing technology beyond the nanometer age to the atomic scale.

The nanostack architecture, according to the company, vertically stacks and staggers transistors, allowing more components to be packed onto a chip while allowing different materials to be optimised independently for performance and power efficiency.

In the interim, IBM experts demonstrated the architecture’s ability to considerably improve SRAM scaling, allowing chip designers to create more powerful processors that can manage high-bandwidth AI workloads.

Within the next five years, the firm stated that the technology will be commercially adopted for the first time.

Moreover, in collaboration with industry partners like ASML, Lam Research, Tokyo Electron, and SCREEN Semiconductor Solutions, the study was carried out at IBM’s semiconductor research facility in Albany, New York.

The International Monetary Fund (IMF) stated on Thursday that Even if the Iran conflict and rising energy prices have an impact on the economy, India is still a significant engine of global economic growth. However, the IMF also warned that the country has not been immune to interruptions in the world’s energy markets.

At a regular IMF news briefing, Julie Kozack, Director of the IMF’s Communications Department, stated that India’s economy has remained resilient in spite of external headwinds, bolstered by strong internal demand.

Kozack said that despite the war’s effects and external global headwinds, India’s economy has been expanding quickly and has been helped by very strong domestic demand.

The IMF stated that it still predicts India’s economy to grow by 6. 5 percent in fiscal year 2026-27, maintaining the upward revision made in April.

We had forecast a growth of 6. 5% for fiscal year 2026–27, which was a little bit of an improvement from what we had in January. Still fairly strong growth, according to Kozack, is the 6. 5 percent increase.

According to her, the prediction took into account the significant momentum from last year and the drop in US tariff rates, which lessened the blow of the worldwide energy crisis.

She added that the decrease in the US tariff rate—which had been set at 50% and then reduced to 10%—also contributes to the reduction in tariffs, which also partially countered the effects of the global energy crisis on India.

During the first three months of the year, Kozack stated that India’s economy had exceeded expectations.

Currently, we observe that the momentum has maintained throughout the first quarter of this calendar year. According to her, India’s economy grew by 7. 8% during the first quarter, which was more than we had forecast for April.

There is still considerable momentum in India. Therefore, even after the shock, it still serves as a global economic growth engine.

When asked if the disturbances around the Strait of Hormuz and the Middle East conflict might damage India’s energy-reliant economy, Kozack said that the country had unavoidable suffered the effects of increasing international energy prices.

The energy shock has had an impact worldwide, and no nation has truly been unaffected by the global shock, she stated, adding that “I think it’s obvious. ”

We did observe India dealing with energy supply problems. Like most countries in the world, India was impacted by rising prices as a result of the energy price shock, and because India imports a lot of energy, we saw the consequences, according to Kozack.

At the same briefing, Kozack stated that the IMF saw the latest truce in the Middle East and progress toward reopening the Strait of Hormuz as positive steps for the world economy. She mentioned that while some other commodity prices had started to fall, oil prices had fallen from their top but were still around 10% more expensive than before the war.

On July 8, the IMF is scheduled to release revised worldwide economic forecasts.

In Match 23 of the ICC Women’s T20 World Cup in Manchester on Thursday, opener Shafali Verma scored a brilliant half-century as India pursued a target of 137 with 19 balls remaining to beat Bangladesh by five wickets.

India began aggressively and never let Bangladesh’s bowlers get comfortable while pursuing a small goal. Shafali led the charge from the very first over, hitting two boundaries off Marufa Akter to collect 11 runs and give India the ideal start.

India’s scoring rate increased quickly after the opener maintained her attack in the following over by hitting another boundary and a massive six. Smriti Mandhana also looked to attack at the other end and scored two consecutive boundaries off Marufa. Nevertheless, her short stay was over when Rabeya Khan caught her at eight for six balls at cover.

The loss of an early wicket had little impact on India. While Yastika Bhatia swiftly settled down and rotated the strike efficiently, Shafali continued to locate the border on a consistent basis.

The duo dominated the Powerplay, punishing anything loose and keeping Bangladesh under constant pressure. Following six overs, India had the greatest Powerplay score in the history of the Women’s T20 World Cup, reaching 63/1. The prior record was 59, which was established against the Netherlands previously in the competition.

During the seventh over, Shafali reached her half-century off just 29 balls. She has exhibited destructive form throughout the tournament, and it was the second-fastest fifty by an Indian batsman in the Women’s T20 World Cup history.

Her innings came to an unusually early end in the ninth over, just as she appeared to be on track for an even greater total. Shafali stepped out of her crease and was stumped by the wicketkeeper after missing a delivery. After a great 53 off 34 balls with eight fours and a six, she went back.

India had already established a firm grip on the chase when she was dismissed.

Richa Ghosh and Yastika then concentrated on keeping up the momentum. India aimed to end the game swiftly and improve their net run rate, therefore Richa attacked with two boundaries in the 11th over.

Spinners from Bangladesh had some success. Yastika was out in the 12th over after scoring a valuable 23 runs from 18 balls with three boundaries. Richa Ghosh was leg-before wicket for 10 by Rabeya Khan in the next over.

India’s advancement was momentarily hampered by the wickets. Bangladesh tried to put pressure with a few tight overs, and Jemimah Rodrigues and captain Harmanpreet Kaur spent some time settling in.

Jemimah ultimately got away in the 16th over with a six before scoring more runs to get India close to winning. Before being dismissed for 26 runs off 15 deliveries, she nearly completed the chase on her own, scoring back-to-back fours in the subsequent over. Three fours and one six were included in her amusing knock.

As India reached the objective in 16. 5 overs to win by five wickets with ease, Harmanpreet Kaur and Deepti Sharma completed the formalities, needing only a few runs.

Bangladesh was asked to set the pace with the bat before scoring 136/8. Valuable contributions from opener Juairiya Ferdous and skipper Nigar Sultana formed the basis of their innings.

After losing Dilara Akter to Renuka Singh Thakur for four in the second over, Bangladesh bounced back with a 51-run stand between Sobhana Mostary and Ferdous. During her 33-run stint, Ferdous assumed a more attacking position and hit five boundaries, while Mostary contributed 22 off 26 deliveries.

During the innings, India’s fielders wasted numerous opportunities, allowing Bangladesh to create partnerships and maintain a consistent scoring rate.

Nigar Sultana was removed, and she maintained the innings with a outstanding late acceleration. Four boundaries were hit in one over by the Bangladesh captain against Nandini Sharma, and he ended with 32 runs in 24 balls. Nonetheless, her removal in the 17th over was a turning point since Bangladesh lost steam in the final innings.

The most successful bowler for India was Radha Yadav, who took 3/28 and broke key partnerships during the game. One wicket each was taken by Renuka Singh Thakur and Nandini Sharma.

With a 2/24 score, Shree Charani, who had previously excelled in the death overs, took two wickets in the last over. She now has 12 wickets in the competition, making her the first Indian woman to take 12 wickets in a single Women’s T20 World Cup edition, beating Poonam Yadav’s previous national record of 10 wickets.

Brief scores:
Bangladesh 136/8 in 20 overs (Juairiya Ferdous 33, Nigar Sultana 32; Radha Yadav 3-28, Shree Charani 2-21)
India 139/5 in 16.5 overs (Shafali Verma 53, Jemimah Rodrigues 26, Yastika Bhatia 23; Ritu Moni 2-29, Rabeya Khan 1-19)

Sunil Chhetri, an Indian football legend, has shown special admiration for Lionel Messi and Cristiano Ronaldo, commending their incredible endurance and steadfast commitment to play at the highest level.

In the current FIFA World Cup 2026, Messi achieved another incredible milestone in his famous career when he scored his 17th and 18th World Cup goals in a brace that helped Argentina defeat Austria 2-0 in the group stage.

He surpassed Miroslav Klose, a former Germany forward who previously held the record with 16 World Cup goals, to become the FIFA World Cup’s all-time leading men’s goalscorer.

Conversely, Ronaldo scored a brace in Portugal’s 5-0 victory over Uzbekistan, making him the first player ever to score in six separate FIFA World Cups (Germany 2006, South Africa 2010, Brazil 2014, Russia 2018, Qatar 2022, and now USA-Mexico-Canada 2026).

It also made Ronaldo, at 41 years and 138 days, the second-oldest goalscorer in World Cup history, behind Roger Milla of Cameroon, who scored a goal in 1994 at the age of 42 years and 39 days.

Consider Ronaldo and Messi, who are nearing their 40th birthdays. It’s unbelievable that they can play this well on the international scene. If there is one thing young footballers should take away from them, it is their voracity.

Chhetri identified Messi’s memorable hat-trick, Japan’s crushing 4-0 win, and the Morocco-Scotland match he saw live in Boston as his favorite tournament moments.

Messi’s hat-trick served as a reminder to everyone of his status as one of the best players ever to play the game. Japan’s 4-0 triumph was another memorable occasion, demonstrating how far Asian football has advanced. He added that Morocco vs Scotland was a great game to watch live because of the atmosphere and the caliber of play.

In the meantime, Kylian Mbappe reached a significant point in his remarkable career by becoming the tenth French player ever to record one hundred international games. He is tied with Miroslav Klose for second place with 16 World Cup goals, just two behind the new record-holder Messi (17).

Additionally, Erling Haaland became just the sixth player all time and the first player since Harry Kane in 2018 to net numerous goals in each of his first two World Cup contests. Group I has seen the Norwegian striker net four goals.

Chhetri believes that football fans are privileged to witness the last chapters of Messi’s and Ronaldo’s illustrious careers, as well as the emergence of a new generation led by Kylian Mbappé and Erling Haaland.

I believe there is no intergenerational competition. Others, like Mbappe and Haaland, will write their own tales, while Ronaldo and Messi have established their own legacies. Simply enjoy watching them and staying unbiased. Chhetri stated that you never know how many more chances you will get to see Messi and Ronaldo on a platform like this.

Chhetri said that all of the tournament’s star players have stepped up to the plate, reflecting on the performances of the greatest forwards in the world. In my opinion, no one of them has let me down.

All of the strikers who were mentioned before the competition have succeeded, including Isak, Gyokeres, Harry Kane, Mbappé, Haaland, Ronaldo, and Messi. It’s been wonderful for football fans, he concluded, because it’s not usual for all the major names to show up to the party so early in a big competition.

Union Minister Dr. Jitendra Singh proposed “BRICS Space Economy” as the next frontier of global expansion on Wednesday and urged member states to work together to create new possibilities in innovation, investment, entrepreneurship, and sustainable development.

Dr Singh said BRICS nations have the scale, scientific skills, technical strengths, and industrial capacity needed to become a significant force in the rapidly expanding global space economy while speaking at the BRICS Heads of Space Agencies (HOSA) meeting in Bengaluru.

“Nations working alone will not determine the course of the space economy. ” Collective ambition, shared innovation, and partnerships will shape it. He told the gathering that “BRICS countries have the potential to become one of the most powerful foundations of this growing global space ecosystem. ”

The minister reaffirmed India’s commitment to collaborating closely with all BRICS partners in order to convert shared goals into tangible outcomes and guarantee that space continues to be a driving force behind growth, fortitude, creativity, sustainability, and global cooperation.

The two-day conference, which was held by the Indian Space Research Organisation (ISRO) in conjunction with India’s BRICS Chairship 2026, gathered Heads of Space Agencies and senior officials from Brazil, China, Egypt, Ethiopia, Indonesia, Iran, Russia, South Africa, and the United Arab Emirates.

It examined the BRICS’ space cooperation’s progress and discussed vital topics such as space sustainability, debris-free missions, fortifying the BRICS Remote Sensing Satellite Constellation (RSSC), bringing more new BRICS members into current cooperation frameworks, and furthering talks on the proposed BRICS Space Council.

Dr. Singh stated that space technology has emerged as one of the most potent drivers of economic transformation and societal advancement, allowing countries to improve communication networks, navigation systems, disaster preparedness, agriculture, healthcare, education, and environmental monitoring.

Speaking on the rising prominence of BRICS in the global space landscape, the minister stated that the group accounts for a sizable portion of the world’s population, economic output, scientific knowledge, and technical capabilities.

He claimed that greater collaboration between BRICS nations may open up new possibilities for innovation, industrial alliances, technology transfer, investment, and economic development while tackling shared development objectives.

The Budget has made a strong shift towards economic change and investment-led growth, according to a themed study by SBI Research that was released on Thursday as the Bharatiya Janata Party (BJP)-controlled government in West Bengal unveiled the complete Budget for the 2026–2027 fiscal year.

According to the report, themes associated with investment, governance, fiscal management, technology, entrepreneurship, tourism, and climate resilience (which had previously been ignored in earlier budgets) are receiving increased attention, implying a strategic reorientation of the budget discussion toward industrialization, productive capacity creation, and long-term growth acceleration.

Despite receiving a bigger portion of Central Government subsidies, West Bengal’s financial situation has been unstable due to increased debt accumulation.

Grants from the Centre and tax devolution to West Bengal have consistently exceeded 50% of the state’s total tax revenue over the years.

According to Dr. Soumya Kanti Ghosh, Group Chief Economic Adviser, State Bank of India, “This has occurred because of increased unconditional cash transfers, more off-balance sheet borrowing, higher committed spending, and higher leakages in terms of ‘middleman intermediation’ diverting monetary resources. ”

“There is a lot of potential for higher non-tax income in West Bengal that has been overlooked for years, and raising general administrative efficiency is essential for increasing non-tax revenues,” Ghosh said.

The seventh-largest producer of coal-bed methene is West Bengal. Given the locational advantage in coal gasification and CBM, the report stated that the state has the potential to become the center of methanol manufacture.

“As part of a future effort, it is necessary to operationalize an Eastern Multimodal Growth Corridor linking Bihar, Odisha, West Bengal, and Assam by integrating existing rail, road, port, and inland-waterway assets,” it said.

According to Budget estimates for 2026-27, the revenue deficit is estimated to be Rs 21,984. 41 crore, or 1. 02 percent of the Gross State Domestic Product (GSDP), as opposed to Rs 41,164. 05 crore in the prior fiscal year 2025-26.

India’s enormous pool of young talent positions it to play a bigger part in the global AI ecosystem, according to experts who spoke on Thursday, as artificial intelligence (AI) is growing into a powerful force in tackling real-world problems—from speeding up scientific discoveries to building more sustainable and clean cities.

Vivek Vyas, Co-Founder of Intuitive AI, stated that the company has created AI-powered waste management solutions that are designed to make cities more environmentally friendly and clean at the World Economic Forum’s (WEF) Annual Meeting of the New Champions, also known as Summer Davos.

The firm, located in Canada, uses artificial intelligence to process and dispose of garbage ecologically. Vyas stated that its AI-powered smart waste management product is designed to be used in public places such as airports, train stations, retail centers, and other places with a lot of foot traffic.

India has a fantastic economy and is currently performing effectively. Its biggest asset is its young, skilled, and clever labor force, according to Vyas.

Dr. Hermann Tribukait, Co-Founder and CEO of Atinary Technologies Inc. , emphasized the revolutionary possibilities of AI in research and innovation, stating that the technology enables scientists to speed up research and development (R&D) and find solutions more quickly.

AI is changing scientific research by accelerating R&D and assisting scientists in finding answers more quickly, according to Tribukait.

He pointed out that more rapid scientific innovation might lead to advancements in crucial areas like medicine, clean energy, and other industries that raise the standard of living.

The creation of science and AI, according to Tribukait, should continue to concentrate on bringing about advantages for humankind.

He added that the development of science and AI should benefit mankind.

According to the Atinary Technologies CEO, India’s expanding innovation ecosystem has a large number of gifted scientists, engineers, and young inventors.

India can make a substantial contribution to worldwide scientific advancement with the correct investment in AI-driven research, Tribukait said.

On Thursday, the Summer Davos, which started on June 23, will come to an end. The theme of the three-day Innovating at Scale conference drew over 1,700 leaders to talk about global economics and innovation.

Union Minister for Heavy Industries and Steel H. D. Kumaraswamy stated on Wednesday that India’s steel sector must digitalize in order to survive in the long term and compete internationally. It is no longer an choice.

The minister stated that the steel industry’s future will be determined by its capacity to develop intelligent, connected, and data-driven manufacturing ecosystems, not just by its production capacity, while speaking at the “Chintan Shivir 2026 on Digitalisation in the Steel Sector” here.

He emphasized the steel industry‘s importance as a strategic component of India’s economic transformation, assisting infrastructure development, manufacturing, renewable energy, urbanization, transportation, and defense production, in line with Prime Minister Narendra Modi’s Viksit Bharat 2047 vision.

Despite weak demand in many developed countries, India has maintained its position as the world’s second largest steel producer since 2018, the minister said, describing steel as the foundation of national development.

In addition, Kumaraswamy pointed out that since FY22, finished steel consumption has increased by about 13% annually, while crude steel production has increased by almost 8% annually.

By 2030, the government plans to increase India’s steel production capacity to 300 million tons, and by 2035, to 400 million tons. He reiterated this aim.

Furthermore, the minister emphasized the revolutionary power of technologies like Artificial Intelligence (AI), Machine Learning (ML), Industrial Internet of Things (IIoT), Digital Twins, Robotics, and Advanced Data Analytics in changing steel production worldwide.

According to Kumaraswamy, these technologies can lower human mistakes, enhance workplace safety, and help reduce unanticipated downtime.

Industry leaders, technology experts, startup founders, and heads of major public sector steel businesses like SAIL, NMDC, and MOIL were among the participants that were brought together at the event, which was planned by the Ministry of Steel.

Hockey India revealed the 24-member junior women’s team for its exposure trip to the UK from July 5–14 on Monday. As part of its preparations for forthcoming international competitions, including the Junior Asia Cup, the team will play seven games throughout Scotland and England under its new coach Tim White.

With Nidhi and Engil Harsha Rani Minz as the two goalkeepers, captain Khaidem Shileima Chanu will lead the youthful group. Parwati Topno, Lalneihpuii, F. Lalbi Aksiami, Madhu, Supriya, and Pooja Sahoo make up the defensive squad.

Captain Chanu, Pooja Malik, Supriya Kujur, Geeta Yadav, Binima Dhan, Roshni Aind, Tanushree Dinesh Kadu, and Tanuja Toppo make up the midfield.

Sukhveer Kaur, Shashi Khasa, Lalrinpuii, Nisha Minj, Purnima Yadav, Kajal, Sanika Chandrakant Mane, and Krishna Sharma are part of the front line.

The nine-day exposure tour will begin with two matches versus the Scotland Senior Women’s Team at the University of Edinburgh, then proceed to games against fellow junior teams from the United States, England, and Belgium at the Lilleshall National Sports Centre.

To get ready for the tournaments ahead, coach White will try to hone combinations and methods during this intense experience.

“The UK trip is a crucial component of our junior squad’s growth. White stated, “We have selected an exciting young group, many of whom have not had exposure to foreign teams, so it will be a wonderful learning opportunity for individuals and for the group as a team,” in reference to the squad and the tour’s importance.

Since we will be competing against very competitive opponents, we anticipate being challenged. However, we’ll approach each game as a chance to learn while also putting the playing style we’ve been practicing for the previous ten weeks into action.

This trip will undoubtedly be excellent preparation for the forthcoming Asia Cup, according to the coach, since we will use it to confirm our strengths as a team and the important areas we need to improve.

Indian Junior Women’s Team for UK Tour:

Goalkeepers: Nidhi, Engil Harsha Rani Minz
Defenders: Pooja Sahoo, Supriya, Madhu, F. Lalbi Aksiami, Lalneihpuii, Parwati Topno
Midfielders: Khaidem Shileima Chanu (c), Tanuja Toppo, Supriya Kujur, Pooja Malik, Binima Dhan, Geeta Yadav, Roshni Aind, Tanushree Dinesh Kadu
Forwards: Sukhveer Kaur, Shashi Khasa, Lalrinpuii, Nisha Minj, Purnima Yadav, Kajal, Sanika Chandrakant Mane, Krishna Sharma.