Washington, D.C

PM Modi lands in Washington, D.C. to begin 2-day US visit; Income Tax Bill 2025 to be tabled today: Key changes explained; Tech & more

Published

1 year ago

February 13, 2025

PM Modi lands in Washington, D.C. to begin 2-day US visit; Income Tax Bill 2025 to be tabled today: Key changes explained; Tech & more

PM Modi lands in Washington, D.C. to begin two-day US visit

Prime Minister Narendra Modi landed in US in the early hours of Thursday, February 13 (IST), as part of the second leg of his two-nation tour. He will be meeting US President Donald Trump during his visit.The Indian diaspora in Washington, D.C welcomed the PM after he landed.

During his two-day visit, the Prime Minister will meet the new US President Donald Trump to hold bilateral talks in both restricted and delegation-level formats. The two leaders are likely to discuss key trade and strategic interests, focusing on reducing the trade deficit, reducing import tariffs, strengthening defence ties, and boosting energy cooperation.

HAL shares likely to see 50% upside from the current market price

Shares of state-run Hindustan Aeronautics Ltd have lost 37% of their value over the last seven months. But the Dalal Street has a consensus target price of ₹5340 per piece, implying a 50% upside from the current market price.

The stock of defence PSU major ended Wednesday’s (February 12) session at ₹3594.15 on the NSE, down 1.5% from previous day close. The stock has given 14% of its value in 2025 so far, after consistently outperforming in the last five years through 2024.The state-owned defence major on February 12 reported 14% jump in consolidated net profit at ₹1,440 crore for the quarter ended December 2024, driven by sustained demand for its aircraft from the defence ministry. It reported a consolidated net profit of ₹1,261 crore in the year-ago period. The defence PSU’s revenue from operations surged 15% to ₹6957 crore during the quarter.

Trump says to sign order on reciprocal tariffs today or tomorrow

US President Donald Trump committed Wednesday to announcing “reciprocal tariffs” on other countries, saying he could sign an order for them within a day, a move that could open new fronts in a trade war.

During election campaigning, Trump had promised: “An eye for an eye, a tariff for a tariff, same exact amount.” Analysts expect reciprocal duties involve hiking tariff rates on US imports to match the rate that exporting countries charge on American products.Speaking in the Oval Office on Wednesday, Trump said that he could sign an order for reciprocal duties later in the day, or on Thursday morning. Analysts have warned that such levies could bring a broad tariff hike to emerging market economies like India and Thailand.

Income Tax Bill 2025 to be tabled today: Key changes explained

The proposed Income Tax Bill 2025 will be tabled in Parliament on Thursday (February 13). The bill aims to replace the Income Tax Act of 1961 with a more structured and simplified version of tax law. It has already been circulated among Parliament members and may take effect from April 1, 2026, once passed.

Structural overhaul and simplification | The new bill restructures tax law by reducing the number of chapters from 51 to 23. However, the number of sections has increased from 298 to 536. The word count has also been cut by half from the existing 5.20 lakh words, making it concise and easier to interpret.

Exclusive | Zero tariffs will help India become competitive in chipmaking: US semiconductor body

India should consider zero tariffs on semiconductor manufacturing if it wants to become a significant player in global supply chains, says John Neuffer, President and CEO of the US Semiconductor Industry Association.In an exclusive chat with CNBC-TV18, Neuffer emphasised that while India is on the right trajectory in growing its chip-manufacturing footprint, it is important to have a lower tariff and more conducive trade policy. “US is already getting zero tariff treatment from chip supply chain partners around the world but not from India”, he said. He added that more investments in skilling people — not just in design but actual chip manufacturing — would pay off in the long run.

Google I/O 2025 set for May 20-21: Gemini, Android 16, and more on the agenda

Google I/O 2025: Google has officially announced the dates for its annual developer conference, I/O 2025, scheduled to take place from Tuesday, May 20, to Wednesday, May 21.

The event will return to the Shoreline Amphitheater in Mountain View, California, kicking off with a keynote by CEO Sundar Pichai at 10 am PT (10.30 pm IST).This year’s I/O promises a deep dive into Google’s latest products, with a strong focus on artificial intelligence, Android 16, and advancements in web and cloud technologies.

Google has also teased updates on its Gemini AI models, the Gemma open model, Google AI Studio, and NotebookLM.In a new format twist, Google will livestream developer product keynotes from Shoreline across both days, followed by breakout sessions, workshops, demos, and networking opportunities.

SEBI announces ‘MITRA’ platform to help investors track unclaimed mutual fund folios

Market regulator Securities Exchange Board of India (SEBI) has launched a new platform, ‘MITRA’ (Mutual Fund Investment Tracing and Retrieval Assistant), to help investors trace their unclaimed or inactive mutual fund folios.

Over the years, many investors have lost track of their investments, particularly those made in physical form with minimal KYC requirements. In some cases, mutual fund folios do not appear in a unit holder’s consolidated account statement due to missing details such as PAN, email ID, or a valid address.Since inactive accounts are vulnerable to fraudulent redemptions, SEBI has directed Registrar and Transfer Agents (RTAs) like CAMS and KFin Technologies to collaborate with Asset Management Companies (AMCs) to launch the ‘MITRA’ platform.

Navigate the stock market like a pro! Click here to know more 👈🏻

West Bengal hikes DA by 4%: Who benefits and what it means

The West Bengal government has announced a 4% increase in dearness allowance (DA) for state employees and pensioners. The hike, effective from April 1, 2025, was revealed in the state budget presented by Finance Minister Chandrima Bhattacharya on Wednesday (February 12).

Dearness allowance is a cost-of-living adjustment provided to government employees and pensioners. It helps them cope with inflation and rising prices.DA is calculated as a percentage of basic salary or pension and revised periodically.

This Coimbatore company just gave 140 employees ₹14 crore in bonus

An AI startup company from Coimbatore has done what most startups only dream of doing. The company, named Kovai.co, has given a bonus of ₹ 14 crore to its 140 employees.

Kovai.co is named after the city of Coimbatore. This startup provides business-to-business software solutions (SaaS) and was started by Saravanakumar in 2011. Today, this company is providing its services to big corporations like BBC, Boeing and Shell.Its founder, 48-year-old Saravanakumar, belongs to Coimbatore but had moved to London 25 years ago. Saravanakumar said that he was an ordinary IT employee for 10 years, but when he saw a void in the market, he decided to start his own company in his hometown.

India needs more local investors in alternative investment funds

A new report by Crisil Market Intelligence and Oister Global has revealed that Alternate Investment Funds (AIFs) investing in private markets have consistently generated superior returns compared to public market equivalents, demonstrating their strong investment potential even during periods of robust public market performance.AIFs have grown 86 times between 2014 and 2024, reflecting a compound annual growth rate (CAGR) of approximately 31.5% over the past five years, according to the report. “The IRR of 21.5% for the aggregate AIF benchmark significantly outperforms the listed market even today. This makes a compelling case for investors considering this asset class,” Sandeep Sinha, Co-Founder and Co-CEO of Oister Global, told CNBC-TV18.

We’ll see you tomorrow with another 11:11

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Washington, D.C

Storm Team4 Forecast: A chilly, gusty Sunday before a cool start to the week

Published

10 hours ago

April 19, 2026

Press Room

Storm Team4 Forecast: A chilly, gusty Sunday before a cool start to the week

4 things to know about the weather:

Chances of rain in the morning
Gusty Sunday
Chilly Monday
Temps will rise again through the work week

Download the NBC Washington app on iOS and Android to check the weather radar on the go.

After a nice and warm Saturday, changes arrive for part two of the weekend.

The first half of your Sunday will have a chance for showers. Winds will pick up with our next system and are expected to gust to about 20-30 mph. Cooler air will settle in, and lows Sunday night fall into the 40s.

Highs temps Monday will reach only into the mid to upper 50s.

However, temperatures will rise through the week, so you won’t need your jackets every day.

QuickCast

SUNDAY:
Showers, then partly cloudy
Wind: NW 10-15 mph
Gusts @ 30 mph
HIGH: Lower 60s

MONDAY:
Partly cloudy
Wind: NW 10-15 mph
Gusts @ 25 mph
HIGH: Upper 50s

Stay with Storm Team4 for the latest forecast. Download the NBC Washington app on iOS and Android to get severe weather alerts on your phone.

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Washington, D.C

‘It’s a twilight zone’: Iran war casts deep shadows over IMF gathering in Washington

Published

1 day ago

April 18, 2026

Press Room

‘It’s a twilight zone’: Iran war casts deep shadows over IMF gathering in Washington

The most severe energy shock since the 1970s, the risk of a global recession and households everywhere stomaching a renewed surge in the cost of living – hitting the most vulnerable hardest.

In a sweltering hot Washington DC this week, the message at the International Monetary Fund meetings was chilling: things had been looking up for living standards around the world. But then came the Iran war.

“Some countries are in panic,” said the fund’s managing director, Kristalina Georgieva, addressing the finance ministers and central bank bosses in town for the IMF and World Bank spring meetings. “The sooner it [the Iran war] ends, the better for everybody.”

Such gatherings are not typically used to fight geopolitical battles. “You don’t get people shouting at one another at these things,” one senior figure remarked. But, as a record-breaking April heatwave swept the US capital, no one could ignore the mounting damage from the Iran war.

Those familiar with the mood over breakfast at a meeting of the G20’s representatives on Thursday, which included Donald Trump’s treasury secretary, Scott Bessent, and the outgoing US Federal Reserve chair, Jerome Powell – said the atmosphere in the room was sombre amid an open exchange of serious views.

“It is such a twilight-zone meeting,” said Mohamed El-Erian, a former IMF deputy managing director who is now chief economic adviser at the Allianz insurance group. “There are several shadows hanging over it: one is the shadow that comes from concern about the global economy as a whole.

“The second is that some countries are going to be particularly hard hit, and it’s mostly countries that very few people are talking about. But the third concern is the adding of insult to injury: the fact that the US, which started a war of choice, is going to be hit, but by a lot less than elsewhere in relative terms.”

Before Thursday’s breakfast, Rachel Reeves had started her day with an early-morning jog. Joined by her counterparts from Spain, Australia and New Zealand for a run down the iconic National Mall, she posted an Instagram selfie with a not-so-subtle dig: “Friends that run together – work together.”

A day earlier, the chancellor had told a CNBC conference that she thought “friends are allowed to disagree on things” as she criticised Trump’s Iran war as a “mistake” and a “folly” that had not made the world safer.

Rachel Reeves posted this image on Instagram from Washington DC on Thursday with the message: ‘Friends that run together – work together.’ Photograph: Rachel Reeves/Instagram

Speaking at a venue just steps away from the White House, before a one-on-one meeting with Bessent, she said this “fair message” was needed because UK families and businesses were feeling the pain from higher energy prices triggered by the conflict.

Those close to Reeves insist her meeting remained cordial. Britain and the US have significant shared interests in AI, financial services and trade. The chancellor also said the UK government had little time for the Iranian regime.

But with the IMF having warned on Tuesday that the Iran war could risk a global recession – in which Britain would be the biggest G7 casualty – it was clear Reeves had travelled to Washington ready to pick a fight.

“I’m struck by how vocal she has been and the words she used,” said one global financier. “We know the disagreement between Bessent and [European Central Bank president] Christine Lagarde earlier in the year. But that was in private.”

At a cocktail party held at the British ambassador’s residence for hundreds of diplomats and financiers – including the Bank of England’s governor, Andrew Bailey, the chief executive of Barclays, CS Venkatakrishnan, and dozens of senior figures – this transatlantic tension, weeks before King Charles’s US state visit, was a major topic of conversation.

The other, in the balmy residence gardens, was one of its former occupants, Peter Mandelson, as revelations about the former ambassador’s appointment threatened to further rock the UK government.

Before the war, the agenda for the IMF had been about global cooperation; the adoption of AI, jobs and work to eradicate poverty. Each of those tasks had now been complicated, but not least the task of countries working together.

For many at the meetings, the focus was on forging closer global cooperation without the world’s pre-eminent superpower.

“Everybody is talking about how you hedge against American decisions,” said David Miliband, the former UK foreign secretary, who now runs the International Rescue Committee. “You can’t do without them, because they’re 25% of the global economy. But, in a lot of fora, they’ve pulled out.

“So everyone has to think, how does one structure international cooperation? The old west is not coming back. And so everyone has to figure out how to position themselves for that world.”

For those gathering in Washington, there was irony in the fact that they were meeting in the halls of institutions founded, under US leadership, to promote global cooperation after the second world war. The whole idea of the Bretton Woods institutions was to avoid the dire economic conditions and warfare of the 1930s and 1940s. Yet this year’s meeting was taking place amid these intertwining problems.

In their conversations about the best economic policy response to the shock of conflict, the economists also knew the real power to make a difference lay two blocks across town from the IMF and the World Bank – behind the security cordons and construction equipment blocking the White House from public view. “It is not clear they can do anything about it,” said El-Erian.

Still, with a booming economy driven by AI – including Anthropic’s powerful Mythos model, the topic of much conversation – most countries cannot afford to completely break off US ties.

“People want to find ways to insulate themselves from the mess. But, on the other hand, they admire the US private sector,” El-Erian said. “The best way I’ve heard it put, is: they want to go long the private sector and short the mess. But it’s almost impossible to do.”

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