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Trump pulls US out of 66 international organisations

US President Donald Trump has ordered to withdraw from more than 60 international organisations, including several UN agencies and the India–France-led International Solar Alliance (ISA), calling the memberships “redundant” and contrary to American priorities.

On Wednesday, Trump signed an executive order instructing US departments to immediately cease participation in and funding for 31 United Nations bodies and 35 non-UN organizations, according to a White House statement.

The affected entities cover areas including climate change, conservation, counterterrorism, and human rights, among others.

The Trump administration cited that these bodies operate in ways that conflict with US national interests, security, economic growth, or sovereignty. Participation in or funding for these entities will be halted to the extent allowed by law.

Among the bodies on the list is the International Solar Alliance, a global initiative led by India and France focused on climate action. Over 100 countries are signatories, with more than 90 having ratified full membership.

Speaking on X, US Ambassador to the UN Mike Waltz said the withdrawal ensures the United States will no longer “fund or participate in international organisations that do not serve, or actively work against, American interests.”

Secretary of State Marco Rubio added that the 66 organisations were found to be “redundant, mismanaged, poorly run, or pursuing agendas that conflict with the US mission, sovereignty, and prosperity.”

The United Nations confirmed it has received the list of organisations affected and said it will issue an official response on Thursday.

Trump’s move represents one of the most significant rollbacks of US involvement in multilateral institutions in recent years, and it is expected to have far-reaching implications for international cooperation on issues ranging from climate change to security and development.

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India’s GDP likely to grow 7.4% in FY26

India’s economy is expected to grow at 7.4 percent in the financial year 2025‑26, according to the government’s first advance GDP estimates. This is higher than last year’s growth of 6.5 percent, signaling a strong economic recovery.

The nominal GDP, which factors in price changes, is projected to rise by 8 percent. The services sector is leading the growth, driven by finance, real estate, trade, transport, and communication. Manufacturing and construction are expected to expand around 7 percent, while agriculture may grow at about 3.1 percent.

Despite global economic challenges, strong domestic demand, investments, and supportive policy measures are helping the economy stay on track. These estimates will guide the upcoming Union Budget, offering a roadmap for fiscal planning in the year ahead.

This early outlook reflects India’s resilience and continued momentum, keeping the country on track for steady growth in FY26.

Also Read: Trump eyes Greenland, military option possible

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Trump eyes Greenland, military option possible

President Donald Trump has revived his ambition to acquire Greenland, calling the Arctic island a US national security priority. The White House confirmed that Trump and his advisers are exploring multiple options, including the possible use of the US military, to gain control of the strategic territory.

“The president and his team are discussing a range of options to pursue this important foreign policy goal, and of course, utilizing the US military is always an option at the commander-in-chief’s disposal,” the statement said.

Greenland, a semi-autonomous territory of Denmark with around 57,000 residents, has repeatedly said it is not for sale. European powers and Canada have rallied in support of the island, warning that any US military action would shock NATO and strain ties with long-standing allies.

Despite this opposition, Trump’s interest in Greenland has been reignited following the recent US operation in Venezuela that led to the capture of President Nicolás Maduro. Administration officials describe Greenland as strategically important due to its location and untapped mineral resources crucial for high-tech and military applications.

Several avenues are reportedly under consideration, including a direct purchase of Greenland or establishing a Compact of Free Association, which would give the US influence without full sovereignty. Diplomacy remains the preferred route if a deal can be negotiated, sources said. Secretary of State Marco Rubio assured lawmakers that recent comments did not indicate an imminent invasion.

Some members of Congress, including Republicans, have voiced concerns over the administration’s rhetoric, emphasizing the need to respect Denmark’s sovereignty and treaty obligations. “When Denmark and Greenland make it clear that Greenland is not for sale, the US must honor its treaty obligations,” said Democratic Senator Jeanne Shaheen and Republican Senator Thom Tillis.

Officials stressed that Trump’s drive to acquire Greenland will continue throughout his remaining three years in office. They argue that securing the island would strengthen US influence in the Arctic, counter growing Russian and Chinese activity, and tap valuable resources that remain largely undeveloped.

Trump’s push highlights ongoing tensions between unilateral US ambitions and the cooperative approach expected by NATO allies in managing Arctic security.

Also Read: Venezuela to send 30–50 mn barrels of oil to US

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Venezuela to send 30–50 mn barrels of oil to US

In a move that could reshape global energy flows, President Donald Trump announced that Venezuela will hand over 30 to 50 million barrels of crude oil to the US. Speaking on his Truth Social platform, Trump said the oil would be sold at market prices, and the proceeds would be under US control, a step he described as benefiting both Americans and Venezuelans.

The transfer comes after recent political turmoil in Caracas, including a US operation that led to the capture of Venezuelan President Nicolás Maduro. The announcement marks a rare moment of direct cooperation with Venezuela’s interim authorities, who confirmed the handover but criticized foreign involvement, insisting their sovereignty must be respected.

Trump directed Energy Secretary Chris Wright to begin the process immediately. The plan is to move oil from Venezuelan storage ships directly to US ports, ensuring a smooth flow of high-quality crude. Experts say this injection of oil into the US supply chain could slightly ease prices at a time when energy markets remain volatile. At current rates, the transferred oil could be valued at around $2.8 billion, though final figures will depend on market conditions.

Beyond the numbers, the deal carries broader geopolitical implications. Analysts note that oil previously headed to other countries, including China, may now be redirected to the US, signaling a potential shift in global energy alliances. Trump framed the move as part of a strategy to stabilize markets and assert US influence in Venezuela’s energy sector.

As the first shipments prepare to leave Venezuelan ports, both nations are watching closely, aware that this deal could set the tone for future energy, trade, and diplomatic relations in the region.

It reflects a rare moment where political maneuvering and energy policy intersect in a tangible way, promising both economic impact and a test of how international agreements are executed in a tense, rapidly changing landscape.

Also Read: Reliance shares slide over 4%

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Gold rises ₹1,38,830, Silver up by ₹2,53,100

Gold and silver prices edged up slightly in the domestic market on Wednesday, reflecting steady demand for precious metals. The price of 24-carat gold increased by ₹10, taking the rate to ₹1,38,830 per 10 grams in major Indian cities. At the same time, 22-carat gold also rose by ₹10 and was priced at around ₹1,27,260 per 10 grams.

Silver prices also moved higher. The metal gained ₹100 per kilogram and was trading at ₹2,53,100 per kg in key markets such as Delhi, Mumbai and Kolkata. In Chennai, silver was priced higher at around ₹2,71,100 per kg, reflecting regional variations.

Market experts said the small rise in prices comes amid mixed global signals. While precious metals have seen strong gains in recent months due to safe-haven demand, global prices were slightly lower as investors booked profits. A firmer US dollar also put some pressure on international bullion prices.

Despite this, domestic gold and silver prices remain elevated, supported by ongoing investment interest and demand from jewellers. Gold has been trading close to record levels, while silver has shown stronger momentum compared to gold in recent weeks.

Traders said bullion prices are likely to remain volatile in the near term, tracking global market trends, currency movements and investor sentiment. Any major changes in global economic conditions could influence prices further in the coming days.

Also Read: Intel reveals AI‑ready Panther Lake chips

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Trump team to meet oil firms on Venezuela plans

The Trump administration is holding meetings with leading US oil companies to discuss re‑entry into Venezuela’s oil sector following the capture of President Nicolás Maduro Officials aim to explore how American energy firms could help revive and expand Venezuelan crude production, which has declined sharply over the past two decades.

Executives from Exxon Mobil, Chevron and ConocoPhillips say they have not yet been approached, contradicting President Trump’s earlier claim that consultations were already complete The upcoming talks are seen as the first serious discussions between the administration and industry regarding Venezuela.

Venezuela has some of the world’s largest proven oil reserves and its heavy crude matches US refinery requirements However infrastructure is degraded and legal and political uncertainties make investment risky Chevron is currently the only US oil major operating under a special licence while Exxon and Conoco pursue restitution claims.

Analysts warn that even if US firms return, boosting production will take years and require massive investment The administration is reportedly aiming to fast-track discussions and provide incentives to encourage participation.

It is unclear which executives will attend or whether companies will negotiate collectively or individually Antitrust concerns may limit joint discussions Market observers say the move could eventually increase Venezuelan output but immediate impact on global oil prices is likely limited.

The meetings reflect a strategic push by the Trump administration to align US energy interests with foreign policy objectives leveraging private investment to stabilize and expand Venezuela’s oil sector Analysts say progress will depend on legal clarity, infrastructure repair and political stability.

Also Read: Rupee gains 18 paise to 90.12 as dollar eases

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Rupee gains 18 paise to 90.12 as dollar eases

The Indian rupee advanced in early trade on Tuesday, strengthening by 18 paise to 90.12 against the US dollar, reversing part of its recent losses. The recovery came after four consecutive sessions of decline, during which the currency had weakened amid strong dollar demand and cautious global sentiment.

The rupee had closed the previous session near 90.30, weighed down by sustained pressure from importer dollar buying, foreign fund outflows, and elevated crude oil prices. On Tuesday, however, the local unit opened on a firmer footing as some of the dollar demand eased at higher levels, leading to short-covering by market participants.

Support also came from marginal weakness in the US dollar. The dollar index was trading slightly lower in the 103–104 range in early Asian trade, providing relief to emerging market currencies, including the rupee. Exporter selling of dollars further aided the rupee’s recovery during the morning session.

Crude oil prices remained a key overhang. Brent crude was trading close to $78–80 per barrel, a level that continues to pose risks for India’s external balances, given the country’s heavy dependence on oil imports. Elevated oil prices typically exert pressure on the rupee by increasing the import bill and widening the current account deficit.

Market participants noted that recent foreign institutional investor (FII) outflows from domestic equities had contributed to the rupee’s weakness over the past week. Volatility in equity markets and uncertainty over global growth and interest rate trajectories have kept foreign investors cautious.

Despite the day’s gains, analysts said the rupee’s outlook remains guarded. Movements in the dollar, trends in crude oil prices, and expectations around US monetary policy are expected to remain the key drivers of currency markets in the near term. Any sharp strengthening of the dollar or spike in oil prices could limit further appreciation in the rupee.

The Reserve Bank of India (RBI) is expected to continue closely monitoring currency movements. While the central bank has been intervening periodically to manage excessive volatility, it has largely allowed the rupee to move in line with broader market dynamics.

Going ahead, dealers expect the rupee to trade within a range of 90.00 to 90.40 in the near term, with gains capped by external pressures and support coming from intermittent dollar selling and possible RBI intervention.

Also Read: Gold inches up ₹1.38 lakh, Silver trades at ₹2.48 lakh

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Gold inches up ₹1.38 lakh, Silver trades at ₹2.48 lakh

Gold and silver prices moved up slightly in early trade on Tuesday, reflecting steady demand for precious metals amid global uncertainty.

According to market data, the price of 24-carat gold increased by ₹10 to ₹1,38,230 per 10 grams. Prices were largely similar across major cities. In Mumbai and Kolkata, gold traded at ₹1,38,230, while Delhi saw slightly higher levels at around ₹1,38,380. In Chennai, prices were higher than other metros at about ₹1,39,210 per 10 grams.

The price of 22-carat gold also rose by ₹10. Ten grams of 22-carat gold were priced at around ₹1,26,710 in most cities, while Chennai again recorded marginally higher rates.

Silver prices showed a bigger jump in absolute terms. The price of silver increased by ₹100, taking the rate to ₹2,48,100 per kilogram in Delhi, Mumbai and Kolkata. In Chennai, silver continued to trade at a premium, with prices touching nearly ₹2,66,100 per kilogram.

Market experts say the rise in gold and silver prices is linked to ongoing global tensions and economic uncertainty. Investors often turn to precious metals like gold and silver during uncertain times, as they are seen as safe investment options. Recent international developments and concerns over geopolitical risks have kept demand for these metals strong.

Globally, gold prices have been firm, supported by safe-haven buying and expectations around interest rates in major economies. These global trends are reflected in domestic bullion prices in India as well.

Despite the small daily increase, gold and silver prices remain near high levels. Over the past year, both metals have given strong returns, attracting interest from investors as well as those looking to protect their savings from market volatility.

For jewellery buyers, the elevated prices mean higher costs, while investors are advised to keep an eye on global cues and currency movements, as precious metal prices tend to react quickly to international developments.

Also Read: Sensex slips 100+ points, Nifty dips below 26,250

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Trump flags tariff risk over India’s Russian oil imports

US President Donald Trump has warned India that continuing to import oil from Russia could prompt the United States to raise tariffs on Indian goods. Speaking to reporters on Air Force One, Trump said the US could act “very quickly” if New Delhi does not address Washington’s concerns, signaling potential economic implications for bilateral trade.

Trump also praised Prime Minister Narendra Modi, calling him “a very good man” who had “tried to make me happy” regarding India’s Russian oil purchases. Despite the compliment, he stressed that the tariff threat remains a real possibility if India does not align more closely with US policy.

For businesses, the warning could affect Indian exporters, particularly in sectors sensitive to US tariffs. Any increase could raise costs and disrupt trade flows, potentially impacting markets that rely heavily on Indian products. Analysts note that industries such as textiles, pharmaceuticals, and IT services could face heightened risks if tariffs are applied.

The US‑India trade tension comes amid India’s reliance on Russian crude, purchased at discounted rates due to Western sanctions on Russia. While this helps Indian refiners manage energy costs, it has drawn criticism from the US, which sees these imports as undermining its geopolitical strategy. India maintains that its energy decisions are market-driven and focused on domestic energy security.

To address concerns, India has instructed refiners to submit weekly data on oil imports, aiming to maintain transparency and support ongoing trade negotiations. Experts say that how India balances energy needs with trade relations will be closely watched by investors and global markets.

Trump’s warning underscores the complex interplay between geopolitics and business. Companies in India and abroad are monitoring developments closely, as any tariff escalation could have ripple effects on trade, supply chains, and economic growth.

Also Read: Adani Enterprises buys 49% stake in road firm

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Rupee drops to 90.24 paise on Venezuela crisis

The Indian rupee extended its losses on Monday, slipping by 4 paise to trade at 90.24 per US dollar in early trade, as global uncertainty and geopolitical tensions weighed on market sentiment.

A key factor pressuring the rupee has been the escalating crisis in Venezuela, which has triggered risk aversion across global markets. Fears of further US action in the region have pushed investors towards safe-haven assets, strengthening the US dollar and putting emerging market currencies, including the rupee, under renewed stress.

The rupee’s move below the 90 level is seen as a significant psychological marker for traders. Strong dollar demand from importers and continued foreign portfolio investor outflows have further reduced support for the domestic currency. With global investors cutting exposure to riskier assets, capital inflows into emerging markets have remained weak.

Market participants expect the rupee to face a challenging week ahead as geopolitical developments unfold and global investors assess the broader impact of the Venezuela situation on energy markets, global trade and financial stability. Any escalation could keep the dollar firm and limit recovery in risk-sensitive currencies.

Attention is also focused on upcoming US economic data, which could shape expectations around interest rates and monetary policy. Strong data may reinforce dollar strength, adding to pressure on the rupee in the near term.

Domestically, traders are watching crude oil prices and equity market movements for cues. While softer oil prices and resilient equities can provide some cushion, they have so far been outweighed by global risk factors.

The Reserve Bank of India is expected to closely monitor currency movements and may intervene to smooth excessive volatility if required. Overall, the rupee’s early-week decline highlights the impact of global geopolitical risks, particularly the Venezuela crisis, on currency markets at the start of 2026.

Also Read: Gold slips to ₹1.35 lakh, Silver down to ₹2.41 lakh