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, D.C
A Virginia boater is suing a DC utility for the Potomac River sewage spill
A Virginia boater is suing a Washington water utility for negligence in the collapse of a pipe that leaked millions of gallons of raw sewage into the Potomac River.
The class action lawsuit filed Friday in U.S. District Court in Greenbelt, Maryland, comes weeks after a January sewage pipe collapse, shooting wastewater out of the ground and into the river in an area just north of Washington, D.C. The spill is seen as a serious environmental blight and became the focus of political bickering between President Donald Trump and Democratic-led Maryland, where the leak occurred.
Dr. Nicholas Lailas, M.D., the plaintiff, is a Virginia resident and recreational boat user on the Potomac who is seeking compensation for people “whose property interests in and use and enjoyment of the Potomac River … have been impaired by Defendant’s conduct.”
The lawsuit alleges that it was DC Water’s responsibility as the owner and operator of the ruptured pipe, known as the Potomac Interceptor, to maintain it in a “reasonably safe condition and to prevent foreseeable harm to persons and property.”
The lawsuit said that preliminary data indicate that there are thousands of people who own property or vessels in the affected parts of the Potomac.
Andrew Levetown, an attorney for the plaintiff, said in an interview Monday that it will take time to get the full breadth of the class, with business owners, property owners and recreational users all having interest in the potential damages caused by the Jan. 19 collapse and leak.
“You’re going to have businesses who lose business because instead of sitting next to the Potomac, their clients are sitting next to the open sewer,” he said.
The suit did not specify a damage amount. DC Water spokesperson John Lisle said in a statement that the collapse of the Potomac Interceptor was “a serious and unexpected event, and our teams remain focused on the response, environmental protection, and restoration efforts. Because this matter is currently subject to ongoing litigation, it would not be appropriate for us to comment further at this time.”
D.C. Mayor Muriel Bowser declared an emergency Feb. 18 and requested that President Donald Trump provide federal resources to help the city fight the leak that dumped 250 million gallons of raw sewage into the Potomac River in its early stages. The president approved the emergency assistance days later to help the city address the emergency.
DC Water gave its most detailed assessment yet of why the Potomac River sewage spill occurred and what it will take to fix it. News4’s Mark Segraves reports.
DC Water said it knew the pipe, first installed in the 1960s, was deteriorating, and rehabilitation work on a section about a quarter-mile (400 meters) from the break began in September and was recently completed. The pipe that ruptured was scheduled for repair this summer.
DC Water’s updates say the emergency repairs are beyond the halfway point and there are no flows into the river.
At a public briefing last week, officials with the utility said they were assessing the cause of the rupture, including whether the way the pipeline was initially constructed contributed to the emergency. David Gadis, the CEO of DC Water, said at that briefing that while it was too early to say definitively, “we are seeing indication that this incident may have been highly unusual.”
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Washington, D.C
Route for Freedom 250 Grand Prix in DC debuted at the National Mall
WASHINGTON — Get ready to start your engines, DC.
Officials unveiled the 1.66-mile circuit route Monday, where race cars will be zooming around the National Mall in August for the Freedom 250 Grand Prix in celebration of America’s birthday.
The seven‑turn layout features views of the Washington Monument, US Capitol, the Smithsonian National Air and Space Museum, and part of Pennsylvania Avenue, IndyCar announced.
“This was a team effort,” Transportation Secretary Sean Duffy said. “It’s Penske, it’s FOX, it’s the mayor, it’s Interior, it’s everybody else joining together not to make a profit, not to get your name out there but to say, let’s celebrate America.”
“Let’s celebrate America’s birthday.”
The first-ever street race around the National Mall will take place from Aug. 22-23, with the course itself set to be built up during the summer.
Drivers will also blast past the National Archives, the National Gallery of Art, and the Hirshhorn Museum, with a pit lane on Pennsylvania Avenue.
Officials debuted a red, white, and blue “Freedom 250 Grand Prix IndyCar” design Monday to honor the upcoming 250th anniversary of the adoption of the Declaration of Independence.
“We want people to plan their trips to D.C. now,” DC Mayor Muriel Bowser said. “Come for the Freedom 250, and then stay to enjoy our monuments and museums, our beautiful parks, world-class restaurants and hotels, and all the culture and entertainment that make us the best city in the world.”
President Trump took executive action back in January, tasking Duffy and Secretary of the Interior Sean Duffy to coordinate with Bowser on planning the feted event.
“The story of America is one of vision, courage, perseverance – and speed,” Monica Crowley, Trump’s representative for America’s 250th, said in a statement.
“Presidents Washington and Jefferson marked notable celebrations with spirited horse races; the Freedom 250 race will bring that historic tradition into the 21st century and renew a tremendous sense of patriotic pride.”
Trump’s team is eyeing other major sports events to celebrate America’s 250th anniversary, including a UFC fight at the White House. The US is also co-hosting the 2026 FIFA World Cup over the summer.
Washington, D.C
Storm Team4 forecast, Enjoy a pleasant start to the week with temperatures in the 70s
4 things to know about the weather:
- “May” not “March” for now
- Next rain late Wednesday, Thursday
- Back to average by Friday
- Much colder next Week
The warmer weather we’ve waited months for will be with us for only three more days before the March Lion starts to roar again.
Monday and Tuesday will be the best days of the week by far. Sunny skies and temperatures running 20-25° above average. Plan for highs reaching the low 70s Monday and near 80° on Tuesday.
A series of cold fronts later in the week will send temperatures back to average 54° by the end of the week and then well below average for most of next week.
Clouds will return by Wednesday morning and rain chances will arrive no later than sunset. Wednesday will still be close to 80° and have our first taste of humidity in a while. Rain is likely from Wednesday evening through noon on Thursday as our first cold front arrives.
Thursday’s highs, likely near 70°, will occur before sunrise but gusty northwest winds will have temperatures falling steadily throughout the day. Expect temperatures in the 50s, rain for the morning commute and 40s with rain ending for the ride home.
Download the NBC Washington app on iOS and Android to check the weather radar on the go.
Warm streak won’t last long
The good news is that Friday and the upcoming weekend look dry. Highs will be back in the mid-50s for Friday and Saturday but Sunday should get back into the mid-60s.
Another cold front will arrive early next week leading to temperatures running 10-15° below average. It’s also not entirely out of the question that there could be a wet snowflake or two on St. Patrick’s Day.
The return of the cold air next week will keep the cherry trees at bay so the odds of peak bloom occurring in March, like it has the last five to six years in a row, are looking slim at best.
QuickCast
MONDAY:
Mostly Sunny
Nice And Warm
Light Breeze
Wind: Southwest 5-10 mph
Chance of Rain: 0%
HIGHS: 68° to 74°
MONDAY NIGHT:
Clear Skies
Remaining Mild
Patchy Areas Of Fog
Wind: Variable 5 mph
Chance Of Rain: 0%
LOWS: 46° to 52°
TUESDAY:
Mostly Sunny
Near Record Warmth
Light Breeze
Wind: Southwest 5-10 mph
Chance of Rain: 0%
HIGHS: 76° to 82°
WEDNESDAY:
Breezy, Warm And Humid
Increasing Clouds
Showers By Evening
Wind: Southwest 10-25mph
Chance of Rain: 40%
HIGHS: 75° to 80°
THURSDAY:
Cloudy, Windy, Much Colder
Rain Likely Before 2pm
Falling Temperatures
Wind: Northwest 20-35 mph
Chance of Rain: 80%
HIGHS: 65° to 45°
Sunrise: 7:29 Sunset: 7:09
Average High: 54° Average Low: 37°
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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