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
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.
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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
WASHINGTON (7News) — The Catholic archbishop of Washington, D.C., Cardinal Robert McElroy, on Wednesday removed a well-known priest as an exorcist of the archdiocese after he made public comments suggesting that UFO sightings were the work of demons.
McElroy said the archdiocese also was cutting ties with the St. Michael Center for Spiritual Renewal, a Washington-based nonprofit headed by the priest, Monsignor Stephen Rossetti.
The archbishop said Rossetti’s statements “linking UFOs to demonic presence and the Center’s recent use of social media gravely undermine the Church’s very precise teaching on the devil, demons and exorcism.”
“There’s a danger here,” Rossetti said in a May 29 video posted on his Facebook page addressing UFO sightings and the existence of aliens. “As an exorcist I wanted to raise that danger. And that is that demons like to hide. … They don’t want us to know what they’re doing because they’re more effective when we don’t realize it.”
“They can kind of get into your head, you know, and manipulate things in the world to influence us to do evil.”
“It’s my personal belief that probably many if not most of these UFO sightings are in fact demons,” Rossetti added.
Rossetti also said that people can be good Catholics and believe there’s life on other planets, though he does not personally believe life exists elsewhere.
In a statement posted on the St. Michael Center website, Rossetti said he was saddened by the action of the archdiocese.
“I ask forgiveness for any ways that I have not been faithful to the teachings of the Church’s Magisterium, particularly in the cited video on ‘aliens and the demonic,’” he said. “I believe it is of the utmost importance to be obedient to the Church and I will continue to endeavor to subject all that I do and the Center to be thus obedient.”
Rossetti, who has over 148,000 followers on Instagram, is a prominent psychologist as well as an exorcist. His center has specialized in offering spiritual healing for priests troubled by various difficulties.
In 2023, he told The Associated Press there was increasing and renewed appetite for information about demonic possession and exorcism.
Washington, D.C
Nurses at Washington D.C.’s largest hospital call on leadership to reverse planned cuts to maternal health
RNs at MedStar Washington Hospital Center say closure of postpartum unit will disproportionately harm marginalized and underserved communities
Union nurses at MedStar Washington Hospital Center (MWHC) in Washington, D.C. are demanding that management stop the planned closure of an entire postpartum unit, announced National Nurses Organizing Committee/National Nurses United (NNOC/NNU). The hospital notified the union on May 26, 2026 of its intention to eliminate 11 maternal health beds and displace eight nurses by July 26, 2026, leaving MWHC with one postpartum unit.
In a follow-up town hall with staff nurses, Chief Nursing Officer Ariam Yitbarek confirmed the closure. Other leaders have additionally informed staff that the hospital will strictly limit scheduled C-sections and inductions for patients from numerous D.C. maternal health organizations. The list of organizations includes many that primarily serve low-income patients, immigrants, and patients of color, all communities with significantly higher risks of maternal mortality. Additionally, staff were informed that Kaiser Permanente, which notably insures a large number of DC city employees and even many of MWHC’s own workers, will see a strict limit on scheduling inductions and C-sections for their patients as well.
“Closing postpartum unit 5F will gravely impact those most affected by health disparities,” said Stephanie Sims-Coates, RN in the neonatal intensive care unit. “Our low-income families and families of color will be most affected by this closure. Families trust the medical staff at MWHC and plan to come to us for their care. In a city where Black women make up 90 percent of pregnancy-related deaths despite being only half the population, the hospital’s decision to close this unit is a significant mistake.”
Community leaders and healthcare workers are joining the call for MedStar to put patients before profits and keep the unit open. This past weekend, nurses met with D.C. mayoral candidate and Ward 4 councilwoman Janeese Lewis George about the planned closure and the impact it would have on DC’s most vulnerable residents.
“Maternal mortality is a crisis for Washington, DC, and our healthcare system needs to address the crisis immediately, rather than exacerbate the challenges that birthing parents face,” said Councilwoman Janeese Lewis George. “Now is the time to invest in health care, rather than make cuts. I want to work with the hospital to identify solutions that work for patients and the provider.”
“In my time at Washington Hospital Center, I’ve seen the hospital tout its Safe Moms, Safe Babies program and host a community baby shower specifically designed to call attention to the maternal mortality crisis,” said Marcqueata “Tiya” Butler, RN in the Mother/Baby unit. “Their current plan to shut down 11 postpartum beds betrays the hospital’s stated commitments. They are aware of persistent inequities in access to care. We are calling on the hospital to consider the impacts on the community, safeguard the mothers and infants of DC and commit to addressing the maternal mortality rate.”
In 2024, MedStar Health, a registered non-profit, reported $9 billion in operating revenue.
NNOC/NNU represents more than 2,200 registered nurses at Washington Hospital Center.
National Nurses United is the largest and fastest-growing union and professional association of registered nurses in the United States with more than 225,000 members nationwide. NNU affiliates include California Nurses Association/National Nurses Organizing Committee, DC Nurses Association, Michigan Nurses Association, Minnesota Nurses Association, and New York State Nurses Association.
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