Weekly News Platter
The Economic Times

Weekly News Platter

7 Mar, 2026, 04:59PM IST, PTI
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In case you had a busy week, these are the top stories you need to get caught up to speed...
US grants 30-day waiver to India for buying Russian oil stuck at sea amid Middle East warUS grants 30-day waiver to India for buying Russian oil stuck at sea amid Middle East war
India is purchasing millions of barrels of Russian crude oil due to a supply crunch caused by the Middle East conflict. The U.S. Treasury issued a 30-day waiver allowing these purchases of oil stranded at sea, a temporary measure to keep global markets flowing. Read more
Karnataka to end alcohol price controls from April 2026Karnataka to end alcohol price controls from April 2026
Karnataka is set to overhaul its liquor tax system. Chief Minister Siddaramaiah announced reforms including an alcohol-content-based duty structure and deregulated pricing. The state aims for a Rs 45,000 crore revenue target from the excise sector by 2026-27. Technology will enhance monitoring and transparency. These changes will modernize the decades-old framework, simplifying business operations and boosting state finances. Read more
9 million Indians live in the Persian Gulf. The money they send home is a lifeline9 million Indians live in the Persian Gulf. The money they send home is a lifeline
Escalating tensions in the Persian Gulf threaten millions of Indians working in the UAE and other Gulf nations. These expatriates are vital to India's economy, sending home billions in remittances that bolster the rupee and fund development. The disruption of shipping routes and potential economic fallout could severely impact both the region and India's financial stability. Read more
Insider info suggests Iran war can stretch on till SeptemberInsider info suggests Iran war can stretch on till September
Iran war: A report by Politico based on an internal Pentagon notification indicates that US Central Command has requested additional military intelligence officers to support operations against Iran for at least 100 days -- and potentially through September. Read more
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Europe flight fares jump over 40% as Middle East crisis disrupts routes and cuts seat supplyEurope flight fares jump over 40% as Middle East crisis disrupts routes and cuts seat supply
Flight fares for European routes from India have surged by over 40% week-on-week due to geopolitical developments in the Middle East. Airlines are slashing routes and facing increased operational costs, leading to significant fare hikes and limited availability on key corridors like Dubai and Germany. Read more
'The guy is unique': Canada's PM Mark Carney lauds PM Modi's work ethic and 25-year dedication'The guy is unique': Canada's PM Mark Carney lauds PM Modi's work ethic and 25-year dedication
Canadian PM Mark Carney lauded PM Modi as a "unique guy," praising his 25-year work ethic and focus on rural delivery and UPI. The visit marks a "new era of partnership" to reset ties, featuring a major uranium deal and renewed defence cooperation between the two nations. Read more
MakeMyTrip acquires majority stake in leading regional tour operator Flamingo TransworldMakeMyTrip acquires majority stake in leading regional tour operator Flamingo Transworld
MakeMyTrip said Flamingo's popular international and domestic group travel packages, which are currently sold largely through 51 offices across Gujarat, Maharashtra, Rajasthan and Madhya Pradesh, will complement MakeMyTrip's established holiday packages business. Read more
Your mutual funds can now be locked: Sebi introduces debit freeze feature for investorsYour mutual funds can now be locked: Sebi introduces debit freeze feature for investors
Sebi has launched a voluntary lock-in facility for mutual funds, allowing investors to temporarily freeze withdrawals or debits. The feature enhances digital security for both demat and non-demat folios via MF Central. Read more
IRIS Dena ship sinking: What is the Mark 48 torpedo used by the US Navy to sink the Iranian Navy ship?IRIS Dena ship sinking: What is the Mark 48 torpedo used by the US Navy to sink the Iranian Navy ship?
The US released footage of a Mark-48 torpedo sinking Iran's IRIS Dena frigate in the Indian Ocean, killing over 80 sailors. This dramatic event, the first enemy ship sinking by a US torpedo since WWII, escalates regional tensions amid ongoing conflicts across the Middle East. Read more
Uber makes foray into Intercity Bus ticketing starting from IndiaUber makes foray into Intercity Bus ticketing starting from India
Uber has introduced intercity bus ticketing on its app in India. This marks the company's first global launch of this service. Uber has partnered with AbhiBus for this expansion. The new offering allows users to book long-distance bus journeys. Introductory discounts are available for first-time users. This move enhances Uber's intercity travel options for Indian riders. Read more
SpiceJet to operate 14 special flights from UAE to bring back stranded passengersSpiceJet to operate 14 special flights from UAE to bring back stranded passengers
SpiceJet is operating 14 special flights from the UAE on Friday to repatriate stranded passengers amidst the Middle East conflict. This comes after Indian carriers cancelled 281 international flights on Thursday due to escalating tensions and airspace closures. The airline has already conducted 25 special flights in the past three days. Read more
Delhi Metro gets two new corridors for the Pink and Magenta lines; Full list of upcoming stations hereDelhi Metro gets two new corridors for the Pink and Magenta lines; Full list of upcoming stations here
Delhi Metro Phase V: Prime Minister Narendra Modi is set to inaugurate two critical extensions of the Delhi Metro network—the Majlis Park to Maujpur-Babarpur section (Pink Line) and the Deepali Chowk to Majlis Park corridor (Magenta Line)—on March 8, 2026. These projects, costing over ₹18,300 crore, will introduce India’s first fully operational 'Ring Metro' and include one of the system’s highest elevated sections at 28.36 metres. Read more
IAF Su-30 crash: Pilot who took part in Operation Sindoor had visited family 10 days ago, says fatherIAF Su-30 crash: Pilot who took part in Operation Sindoor had visited family 10 days ago, says father
Tragedy struck in Assam's Karbi Anglong district as a fighter jet crash took the lives of Flight Lieutenant Purvesh Duragkar and Squadron Leader Anuj. The Su-30 MKI went off the radar during a training mission shortly after taking off from Jorhat airbase. Read more
'Seat at UNSC for India is of utmost importance,' says Finland President Stubb'Seat at UNSC for India is of utmost importance,' says Finland President Stubb
Speaking at a Joint Press Meeting at Hyderabad House alongside Prime Minister Narendra Modi, Stubb said the world is currently witnessing a transition in the global order, with countries of the Global South playing a crucial role in shaping its direction. Read more
Amid conflicts, countries will have to build their industrial complex, upgrade tech: Navy chiefAmid conflicts, countries will have to build their industrial complex, upgrade tech: Navy chief
Navy Chief Admiral Dinesh K Tripathi highlighted the need for nations to develop their own defense industries. He stressed upgrading technology during production and being ready for rapid adaptation. Admiral Tripathi noted that the idea of short, decisive wars may be questionable. He also mentioned India's focus on self-reliance and co-development in the defense sector. Read more
Maharashtra economy to grow 7.9% in 2025-26, outpacing national growthMaharashtra economy to grow 7.9% in 2025-26, outpacing national growth
Maharashtra is poised for an economic boom, with projections indicating a growth rate of 7.9 percent for 2025-26, outpacing the national average. The state's services sector is primed to drive this growth forward. With a Gross State Domestic Product anticipated to hit Rs 51 lakh crore, Maharashtra remains a magnet for investment, supported by a robust financial framework. Read more
India condoles Khamenei’s killing; Foreign Secretary Vikram Misri meets Iranian envoyIndia condoles Khamenei’s killing; Foreign Secretary Vikram Misri meets Iranian envoy
India's Foreign Secretary Vikram Misri has officially reacted to the death of Iran's Supreme Leader, Ayatollah Ali Khamenei. Misri signed the condolence book at the Iranian Embassy in New Delhi. This marks India's first official response to the airstrike that claimed Khamenei's life. The incident has heightened regional tensions and attracted global attention. Read more
Nitish Kumar's Rajya Sabha move swells NDA's 'Club of Ex-CMs' in DelhiNitish Kumar's Rajya Sabha move swells NDA's 'Club of Ex-CMs' in Delhi
Once Nitish enters Parliament, most of the CMs associated with NDA during the Atal Bihari Vajpayee-LK Advani era will remain at the helm of states, marking the end of an earlier generation of regional power centres. Read more
Adani Total Gas raises prices, citing Middle East conflictAdani Total Gas raises prices, citing Middle East conflict
Adani Total Gas has significantly increased prices for industrial clients due to reduced gas availability stemming from Middle East conflict. The company cited upstream gas curtailment and operational constraints impacting LNG supply routes. Prices for gas exceeding 40% of the daily contract quantity have risen to 119 Indian rupees per standard cubic meter. Read more
Will Rahul Gandhi speak about 'SC/ST Funds Chori' in Karnataka: BJPWill Rahul Gandhi speak about 'SC/ST Funds Chori' in Karnataka: BJP
The BJP has charged the Karnataka administration with misallocating funds intended for the development of SC/ST communities to prop up its guarantee programs. Opposition leader R Ashoka did not hold back, calling out Chief Minister Siddaramaiah and expressing his frustration over Rahul Gandhi's lack of response. Read more

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