US Sanctions on Russian Oil Firms May Force Reliance to Recalibrate Imports 12:33 AM (20 hours ago)
India’s Reliance Industries, the country’s largest buyer of Russian crude, may face disruptions in its imports following US sanctions on Russia’s two biggest oil companies, Rosneft and Lukoil. The sanctions, imposed by the US Department of the Treasury’s Office of Foreign Assets Control (OFAC), target the firms for allegedly funding Russia’s military operations in Ukraine. Reliance, which signed a 25-year deal in December 2024 with Rosneft to import up to 500,000 barrels per day, sources say may need to adjust its direct purchases, though state-run refiners are likely to continue buying via intermediary traders, mostly European, who remain outside the sanctions net.
While public-sector refiners such as Indian Oil Corporation (IOC), Bharat Petroleum (BPCL), Hindustan Petroleum (HPCL), and Mangalore Refinery and Petrochemicals Ltd typically procure Russian crude through tenders without fixed-term contracts, private players like Reliance and Nayara Energy may face greater scrutiny. Nayara, partially owned by Rosneft, has already been sanctioned by the European Union and may need to recalibrate its purchases, while Reliance’s exports to the EU may also be affected due to upcoming restrictions on fuels refined from Russian crude starting January 2026.
Despite Trump administration sanctions, industry sources say the global oil market has not reacted sharply, with prices rising only modestly, reflecting confidence that Russian oil can still reach buyers via alternative traders. Analysts suggest that while immediate disruptions may be limited, Reliance, Nayara, and MRPL will likely reduce Russian oil imports in the coming months, particularly to comply with EU export rules, signaling a gradual shift in India’s sourcing strategy.
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Reddit Sues Perplexity and Others Over Alleged Mass Scraping of User Comments 12:24 AM (20 hours ago)
Reddit has filed a lawsuit against AI company Perplexity, Lithuanian data-scraping firm Oxylabs UAB, Texas-based startup SerpApi, and web domain AWMProxy, accusing them of illegally extracting millions of Reddit user comments for commercial use. The social media platform described the activity as an “industrial-scale, unlawful” scheme, signaling growing concerns over how AI companies source online content for training purposes. This marks Reddit’s second major legal action against the AI industry, following a similar case against Anthropic in June.
Perplexity, which operates an AI-powered “answer engine,” defended itself, calling Reddit’s lawsuit a “sad example” of the risks of public data forming a core part of a company’s business model. The company denied ignoring licensing requests, stating that as an “application-layer company” it does not train AI models and therefore cannot enter into content licensing agreements. Perplexity further accused Reddit of using “strong-arm tactics” by demanding payment despite the company’s lawful access to Reddit data, and vowed not to be “extorted” or used in negotiations against larger competitors like Google.
The legal dispute centers on the infrastructure AI firms use to collect training data, with Reddit previously signing licensing agreements with Google, OpenAI, and others for lawful use of its user-generated content. Reddit’s licensing deals have become an important revenue source, especially ahead of its public listing last year. Perplexity claims its use of Reddit content is limited to summarizing discussions and citing threads, a practice it argues is essential for verifying AI-generated answers, while the industry faces increasing scrutiny over data acquisition practices.
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Foreign Investors Pour Into Indian Bonds as RBI Supports Rupee 12:17 AM (21 hours ago)
Foreign investors dramatically increased their purchases of Indian government bonds last week, buying 55.51 billion rupees ($631 million) — a 46-fold jump from the previous week’s 1.21 billion rupees, according to Clearing Corporation of India Ltd. data. The surge comes as the Reserve Bank of India (RBI) actively intervened to support the rupee, which had been under speculative pressure. The currency rose nearly 1% last Wednesday following RBI actions, signaling growing market confidence.
Rupee-denominated bonds have benefitted from both the RBI’s intervention and attractive yields. The benchmark 10-year yield stands around 6.5%, among the highest in the region, drawing investors seeking high returns alongside potential currency gains. Experts note that a stronger rupee and high yields make Indian debt particularly appealing, with returns on local bonds outperforming broader emerging-market debt so far in October.
Despite the positive momentum, analysts caution that sentiment could shift if trade tensions resurface or central bank support wanes. However, with easing inflation, potential monetary easing, and supportive real rates, India’s bond market remains an attractive destination for foreign investors seeking yield and diversification, particularly if the rupee stabilizes against regional currencies.
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Hindustan Unilever Reports 5% Dip in Q2 Profit Before Tax Amid Pre-GST Cut Disruptions 22 Oct 11:57 PM (21 hours ago)
Hindustan Unilever Ltd (HUL) reported a nearly 5% decline in profit before tax and exceptional items for the second quarter, as sales volumes were impacted ahead of the government’s goods and services tax (GST) cuts. The Indian subsidiary of UK-based Unilever said its profit before tax fell to ₹33.89 billion from ₹35.64 billion a year earlier, while revenue from product sales rose 2% year-on-year to ₹160.34 billion, aided by price hikes and steady demand in its beauty division.
The company noted that overall volume growth remained flat as distributors and retailers focused on clearing old inventory before the GST rate reductions took effect on September 22. However, HUL’s skincare and cosmetics segment showed resilience, recording “high single-digit” sales growth, driven by premium products. Shares of HUL initially rose as much as 3% following the results before settling about 1% higher.
HUL said its EBITDA margin declined by 90 basis points during the quarter but expects sales disruptions to normalize by November. Profit after tax rose 3.6%, supported by a one-time gain of ₹1.84 billion. Meanwhile, parent company Unilever beat global sales forecasts, buoyed by strong demand for its beauty products across North America and emerging markets.
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Modi to Join ASEAN Summit Virtually, No Meeting with Trump as Trade Deal Remains Elusive 22 Oct 11:46 PM (21 hours ago)
Indian Prime Minister Narendra Modi will participate virtually in the upcoming ASEAN-India Summit in Kuala Lumpur, ruling out a possible in-person meeting with U.S. President Donald Trump. The decision comes as India and the United States continue to struggle to finalize a long-anticipated trade deal. The summit, scheduled from October 26 to 28, will see the participation of all 10 ASEAN member states along with key partners including China, Japan, and the U.S.
Modi announced on X that he looks forward to “further deepening the ASEAN–India Comprehensive Strategic Partnership,” while Malaysian Prime Minister Anwar Ibrahim confirmed that Modi’s virtual attendance was due to Deepavali celebrations in India. Malaysia’s foreign minister had earlier stated that Trump would visit Kuala Lumpur on October 26, sparking speculation about a potential meeting between the two leaders—a possibility now ruled out.
Despite months of negotiations, India and the U.S. have yet to reach consensus on key trade issues, with talks complicated by New Delhi’s continued imports of Russian oil. Washington imposed a 25% punitive tariff on Indian goods in August, raising total levies to 50%. According to India’s Mint newspaper, discussions are ongoing, and the nations may soon reach an agreement that could reduce tariffs to around 15–16%, contingent on progress in the energy and agriculture sectors.
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Japan Prepares to Strengthen Defense Ahead of Trump’s Tokyo Visit 22 Oct 1:39 AM (yesterday, 1:39 am)
Japan’s new Foreign Minister Toshimitsu Motegi announced on Wednesday that the country plans to accelerate its defense buildup in response to evolving regional tensions and modern warfare threats. The announcement comes ahead of U.S. President Donald Trump’s visit to Tokyo next week, where he is scheduled to meet with Japan’s newly elected Prime Minister Sanae Takaichi, the country’s first female leader. Motegi emphasized that the visit would serve as an opportunity to strengthen the Japan-U.S. alliance while fostering personal trust between the two leaders.
Japan is pursuing a five-year military expansion plan through 2027, which includes doubling defense spending to 2% of GDP and enhancing strike-back capabilities with long-range missiles—a significant shift from the nation’s postwar pacifist stance. The ruling party’s alliance with the right-wing Japan Innovation Party has fueled speculation that Takaichi, known for her security-focused stance, may pursue a more assertive military strategy. Motegi highlighted the need for Japan to adapt to emerging threats such as drone warfare and cyberattacks while maintaining independent decision-making on defense priorities.
In addition to U.S. relations, Japan aims to deepen cooperation with regional partners including South Korea, Australia, and the Philippines, while seeking stable ties with China. Motegi also noted plans to engage with U.S. officials like Secretary of State Marco Rubio to enhance deterrence and alliance readiness. The government is committed to implementing the Japan-U.S. tariffs agreement to ensure mutual economic benefits, security, and growth, signaling a coordinated approach to both defense and diplomacy during Trump’s visit.
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Meta Launches Anti-Scam Measures and Senior-Focused Digital Safety Initiatives in India 22 Oct 1:30 AM (yesterday, 1:30 am)
Meta has introduced a comprehensive suite of anti-scam features across WhatsApp, Messenger, and Facebook, aimed at safeguarding users from online fraud and cyber scams. WhatsApp will now warn users when sharing their screens with unknown contacts during video calls, while Messenger will deploy AI-powered scam detection to alert users of suspicious messages from new contacts. Additionally, Meta has expanded passkey authentication across its platforms, allowing secure logins via biometrics or device PINs, alongside strengthened security and privacy checkups with personalised recommendations on password updates and two-factor authentication.
Focusing on senior citizens, Meta has extended its “Scams Se Bacho” campaign in collaboration with the Department of Telecommunications, offering multilingual educational videos on spotting online scams, phishing attempts, and fake investment offers. The company also supports the Saksham Senior initiative, conducting workshops to help older adults navigate the digital world safely. Seniors are advised to stay vigilant against unsolicited messages, avoid sharing personal or financial details online, verify information through trusted sources, and consult family before responding to suspicious requests.
Highlighting the growing threat of cyber fraud, Meta revealed that cross-border criminal networks are increasingly targeting social media and messaging users. In March 2025, the company removed around 23,000 Facebook Pages and accounts in India and Brazil linked to online scams. WhatsApp is also piloting a feature to curb spam by limiting new chats with unreplied contacts, with users receiving notifications as they approach their monthly messaging limits, while ongoing conversations remain unaffected.
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Satya Nadella’s Pay Soars to Record $96.5 Million as Microsoft Strengthens AI Leadership 22 Oct 12:17 AM (yesterday, 12:17 am)
Microsoft Corporation CEO Satya Nadella’s compensation surged to $96.5 million for the financial year 2024–2025, marking his highest pay since becoming CEO in 2014, according to a Bloomberg report. The company’s board credited the rise to Microsoft’s advancements in artificial intelligence, stating Nadella and his leadership team have positioned the firm as a clear AI leader in a “generational technology shift.” About 90% of Nadella’s earnings—including a $2.5 million base salary—came in the form of Microsoft shares, up from $79.1 million the previous year.
Top executives at Microsoft also saw notable pay increases. Chief Financial Officer Amy Hood earned $29.5 million, while Judson Althoff, recently promoted to head Microsoft’s commercial business, received $28.2 million. The company’s shares have gained 23% this year, driven largely by growth in its Azure cloud division and continued dominance in enterprise software.
Since assuming leadership, Nadella has reshaped Microsoft through strategic acquisitions such as LinkedIn, GitHub, and Activision Blizzard, and through early investments in OpenAI, totaling over $10 billion. These moves have cemented Microsoft’s position at the forefront of cloud computing, gaming, and artificial intelligence innovation.
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Trump, Modi Discuss Trade and Energy; India to Limit Russian Oil Purchases 21 Oct 11:21 PM (yesterday, 11:21 pm)
U.S. President Donald Trump said he held talks with Indian Prime Minister Narendra Modi on Tuesday, with the discussion centering primarily on trade relations between the two countries. “We talked about a lot of things, but mostly the world of trade,” Trump told reporters in the Oval Office following the conversation.
According to Trump, the leaders also discussed energy cooperation, during which Modi assured him that India would scale back its oil imports from Russia. “He’s not going to buy much oil from Russia. He wants to see that war end as much as I do,” Trump said, emphasizing the shared interest in resolving the ongoing conflict in Ukraine.
India and China are currently the two largest buyers of Russian seaborne crude exports. The Trump administration has recently taken a firmer stance on India’s continued oil purchases from Russia, including imposing tariffs on Indian exports to the United States as part of efforts to pressure Moscow into peace negotiations.
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USCIS Clarifies $100,000 H-1B Visa Fee Implementation for Indian Professionals and Employers 21 Oct 1:10 AM (2 days ago)
The US Citizenship and Immigration Services (USCIS) has released detailed guidance on the controversial $100,000 H-1B visa fee, providing clarity for Indian professionals and US employers. Effective from September 21, 2025, the fee applies to new H-1B petitions filed for workers outside the United States without a valid visa, as well as petitions requesting consular or port of entry notifications. Employers are required to pay the fee online through the federal portal, while petitions for change of status or extensions within the US remain exempt, unless denied or if the worker departs the country before adjudication.
Exemptions are limited to H-1B holders with currently valid visas, petitions submitted before the September 21 deadline, and approved amendments, changes, or extensions of stay. USCIS emphasized that exceptions to the $100,000 fee are “extraordinarily rare,” only granted by the Secretary of Homeland Security if a worker’s presence is deemed in the national interest, no US worker is available, and the payment would otherwise significantly undermine US interests. Employers seeking such exemptions must apply directly to H1BExceptions@hq.dhs.gov.
The fee has sparked controversy and legal challenges, with the US Chamber of Commerce among the groups filing lawsuits against the policy. Critics argue that the fee could adversely impact small and mid-sized businesses and exceeds presidential authority, as fee-setting is traditionally a congressional power. Despite the pushback, the H-1B program remains a key pathway for high-skilled Indian professionals seeking employment in the United States.
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