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  • India-EU FTA Set to Reshape Global Trade and Strengthen Economic Ties

    May 8 (BNP): India and the European Union have moved closer to a landmark economic partnership with the conclusion of a wide-ranging Free Trade Agreement (FTA) that officials describe as one of the most comprehensive trade deals ever negotiated.

    Speaking at an industry event in New Delhi, senior Commerce Ministry officials highlighted the scale of the agreement, calling it the “Mother of All Deals” because of its global economic reach and strategic importance. The proposed pact connects nearly two billion people and covers close to one-third of global trade, making it a major milestone for both economies.

    The agreement is expected to deepen trade ties between India and the EU across goods, services, technology, manufacturing, and investment. Together, the two economies account for nearly one-fourth of global GDP, creating significant opportunities for businesses and consumers on both sides.

    Officials noted that the partnership reflects the complementary strengths of the two regions. While Europe offers advanced technology, capital goods, and high-value manufacturing, India brings a rapidly growing consumer market, strong digital capabilities, and expanding industrial capacity.

    Trade between India and the EU has already been growing steadily. Bilateral trade in goods and services has crossed major milestones in recent years, with sectors such as petroleum products, telecom equipment, pharmaceuticals, textiles, engineering goods, and digital services playing a key role.

    One of the biggest highlights of the agreement is the proposed reduction or elimination of tariffs across a wide range of products. Indian exporters are expected to benefit significantly in sectors including textiles, apparel, leather, gems and jewellery, chemicals, engineering goods, and marine products, where duties in the European market are likely to fall sharply.

    European companies, meanwhile, are expected to gain improved access to India’s fast-growing market in areas such as machinery, medical equipment, aviation, chemicals, and advanced technologies.

    The agreement also places strong emphasis on services and digital trade. India is expected to receive improved market access in sectors such as IT services, professional services, education, and business consulting. Industry experts believe this could further strengthen India’s position as a global hub for digitally delivered services and Global Capability Centres (GCCs).

    Another important aspect of the deal is the easier movement of professionals. The EU has reportedly agreed to a more predictable framework for temporary business visas and professional mobility, a long-standing priority for India.

    The agreement additionally addresses emerging global trade concerns, including sustainability regulations and carbon-related trade measures. Both sides are expected to establish dedicated mechanisms for dialogue and dispute resolution to ensure smoother implementation and reduce future trade disruptions.

    Officials described the FTA as a forward-looking and flexible framework designed to evolve with changing global economic conditions, technological developments, and regulatory standards.

    For India, the agreement represents a major strategic and economic step as the country seeks deeper integration with global markets while expanding export opportunities and attracting investment. Analysts believe the India-EU FTA could reshape trade relations between the two regions and open a new chapter in long-term economic cooperation.

  • Microfinance Sector Shows Recovery as Portfolio Rises to Rs 3.31 Lakh Crore

    May 8 (BNP): India’s microfinance sector is showing signs of recovery, with the overall portfolio increasing to Rs 3.31 lakh crore in the latest quarter, according to a recent industry report. The sector recorded a 3.2 per cent quarter-on-quarter growth, reflecting improving lending activity and gradual stabilization in borrower demand.

    The rebound indicates renewed momentum in the microfinance industry after a period of cautious lending and operational challenges faced by several institutions. Improved collections, stronger rural economic activity, and rising credit demand have contributed to the sector’s steady recovery.

    Industry observers say microfinance institutions are becoming more selective in lending while focusing on portfolio quality and customer engagement. The growth also highlights continued demand for small-ticket loans among low-income households and small entrepreneurs, particularly in rural and semi-urban regions.

    The report noted that lenders are closely monitoring repayment trends and risk management practices as the sector continues to stabilize. Financial institutions are also increasing efforts to strengthen digital operations and improve credit assessment processes.

    Experts believe the recovery in the microfinance portfolio reflects growing economic resilience at the grassroots level, supported by improved income generation and consumption activity across several regions.

    While challenges such as inflationary pressure and borrower stress remain areas to watch, the sector is expected to maintain gradual growth momentum in the coming quarters as credit demand improves and financial inclusion efforts expand further.

     
  • Saudi Tourism Gains Global Momentum as Domestic Travel Booms

    May 8 (BNP): Saudi Arabia’s tourism sector continues to gain momentum, with the country emerging as one of the fastest-growing travel destinations globally. Fresh insights from the World Travel & Tourism Council (WTTC) highlight the Kingdom’s rising influence in the global tourism industry, supported by a sharp increase in domestic travel and ongoing investments in hospitality and infrastructure.

    The sector’s growth reflects Saudi Arabia’s broader vision to diversify its economy and reduce dependence on oil revenues. Over the past few years, the Kingdom has introduced major tourism initiatives, eased travel regulations, and expanded entertainment and cultural offerings to attract both international and local visitors.

    Domestic tourism has played a key role in this expansion. More Saudi residents are choosing to explore destinations within the country, boosting demand for hotels, resorts, heritage sites, and leisure experiences. Popular cities and tourism hubs have witnessed higher visitor activity, contributing to stronger spending across the travel and hospitality sectors.

    Industry experts believe the WTTC’s recognition reinforces Saudi Arabia’s position as a major emerging tourism market. Large-scale projects, improved connectivity, and investments in world-class attractions are helping the country compete with established global destinations.

    The government continues to focus on enhancing visitor experiences through digital transformation, infrastructure upgrades, and new tourism partnerships. Events, cultural festivals, and sports tourism are also contributing to increased footfall and international attention.

    With tourism becoming a central pillar of economic development, Saudi Arabia is expected to maintain strong growth momentum in the coming years, supported by rising domestic demand and expanding global interest in the Kingdom’s evolving travel landscape.

  • Crude Above USD 100, Global Tensions Weigh on Sensex and Nifty

    May 8 (BNP): Indian equity markets closed lower on Friday as rising crude oil prices and escalating geopolitical tensions triggered caution among investors. Benchmark indices Sensex and Nifty slipped amid fears that surging energy costs could increase inflationary pressure and impact global economic growth.

    Brent crude prices crossed the USD 100 per barrel mark after renewed tensions in key oil-producing regions raised concerns over supply disruptions. The spike in oil prices dampened market sentiment globally, with Asian and European markets also witnessing volatility.

    Back home, the BSE Sensex declined as investors booked profits in banking, auto, and IT stocks, while the NSE Nifty also traded in the red for most of the session. Analysts said that higher crude prices remain a major concern for India, which imports a significant portion of its oil requirements.

    Market experts noted that sustained crude prices above USD 100 could widen India’s trade deficit, pressure the rupee, and increase input costs for several sectors. Investors are also closely monitoring global developments, including central bank commentary and geopolitical updates, for further market direction.

    Despite the weakness, selective buying was seen in energy and defensive sectors, helping limit deeper losses. Traders now await upcoming economic data and corporate earnings for fresh cues on market momentum.

    Analysts believe volatility may continue in the near term as global uncertainties and commodity price movements keep investors cautious.

     
  • TransNusa Wins Changi Airline Award After a Record 17 Months of Operations

    JAKARTA, May 08 - Three-year old TransNusa, the new aviation player with new rules, has yet again set a new benchmark by securing the top airline award for passenger growth in Southeast Asia. 

    At the annual Changi Airline Award 2026, organised by the Changi Airport Group, TransNusa received the esteemed Top Airline By Absolute Passenger Growth In Southeast Asia award, besting, both Low-Cost Carriers and full-fledged airlines operating within the Southeast Asia region from Changi Airport. 

    The airline, led by prominent aviation veteran, Datuk Bernard Francis, made history as the first Indonesian airline to be recognised by Changi Airport Group for registering the highest passenger growth within the Southeast Asia region. The award reflects TransNusa’s strong performance and rapid growth since commencing operations at Changi Airport on 20 November 2023. It also underscores the effectiveness of TransNusa’s customised business model, which has been instrumental in driving passenger demand and operational successes since the airline’s inception in 2023. 

    TransNusa Group Chief Executive officer, Datuk Bernard Francis said that the award is a worldwide recognition by the international aviation community on TransNusa’s strategic and focused development of a regional network connectivity that has enabled the airline to increase and grow its passenger base. 

    “Our regional and domestic network connectivity expansion is based on the needs and demands of our passengers, among other variables,” said Datuk Bernard, adding that TransNusa had developed new routes specifically to meet the changing needs and demands of its passengers. 

    “We created and introduced new routes from Bali to Manado. We are the first Indonesian airline to have scheduled flight to Guangzhou, China, from three locations in Indonesia, which is Bali, Manado and Jakarta. In fact, we are the second Indonesian airline to operate scheduled flight to China,” Datuk Bernard explained, adding that Datuk Bernard continued that TransNusa will continue to grow and enhance its network connectivity in response to the evolving passenger demands. 

    On the Changi Airline award, Datuk Bernard said that the award recognises TransNusa for its rapid growth and its role in creating and starting new scheduled flight routes while enhancing its regional network connectivity. 

    Datuk Bernard added that the award further reinforces TransNusa’s position as one of the fastest growing airlines in Southeast Asia reflecting the collective efforts of the TransNusa team, the unwavering support of the airline’s partners, and the confidence of its passengers. 

    TransNusa has always claimed that we provide competitive and quality air travel services and this award acknowledges our commitment towards the affordability, safety and comfort we offer our passengers,” Datuk Bernard further explained. 

    CAG Chief Executive Officer, Yam Kum Weng presented the esteemed award to Datuk Bernard, on April 29, at the award ceremony, which was attended by about 90 airlines and aviation partners. 

    Transnusa

    A MOMENTOUS EVENT… Datuk Bernard with the Top Airline By Absolute Passenger Growth In Southeast Asia award 

    TransNusa, started its operations in 2023, under the leadership of Malaysian-born Datuk Bernard. The airline created history by launching its first international scheduled flight within six months of operations. TransNusa, which operates on a customised business model, which was spearheaded and developed by Datuk Bernard, was the first in the region to rebrand itself as a Premium Service Carrier on 14th April 2023 in conjunction with the launch of its first international scheduled flight from Jakarta to Kuala Lumpur, Malaysia. In the same year, TransNusa launched scheduled flights between Jakarta and Singapore on 20 November, 2023. 

    Meanwhile, on the domestic front, the airline rebranded itself as a Premium Service Carrier on 1 April, 2025.  

     

    TransNusa’s SEAT

    Following its rebranding, TransNusa operates as a premium air service provider focusing on passenger comfort, flexible booking options (Seat, Seat-Plus, Flexi-Pro), and offering meals and more legroom. 

    TransNusa’s SEAT passengers will enjoys check-in baggage of 20kgs, over and above the 7kgs limit offered as a passenger’s hand carry. For the highest package, FLEXI-PRO, TransNusa increased its baggage allowance to 30kgs, free to choose seats, free food, and drinks, and priority boarding. In addition, TransNusa also provides its FLEXI-PRO passengers with the flexibility to change their flight schedule without restrictions and obtain refund. 

  • Yoginii Hosts a Mindful Mother’s Day Wellness Morning Focused on Connection and Wellbeing

    New Delhi, May 8: Yoginii, India’s women-first wellness marketplace, recently hosted an intimate Mother’s Day wellness morning at Life Pilates Studio, bringing together mothers and daughters for a thoughtfully curated experience centred around movement, mindfulness, and meaningful connection.

    Yoginii Hosts a Mindful Mother’s Day Wellness Morning Focused on Connection and Wellbeing

    Conceptualised as a space for mothers and daughters to slow down and reconnect, the morning brought together wellness, movement, and community in a warm and calming setting. The experience featured an energising Pilates session followed by mindful conversations over matcha and coffee, creating an atmosphere centred around presence, reflection, and meaningful connection.

    The Mother’s Day campaign aimed to celebrate motherhood in a simple yet intentional way, moving beyond conventional celebrations to create experiences rooted in mindfulness and genuine connection.

    Adding to the experience, a curated selection of wellness and lifestyle brands available on Yoginii, including Wilson, On, The Better Beings, Snaaqz, The Recipe Tailor, and Ish Beauty, came together to elevate the morning and create a memorable experience for attendees.

    Speaking about the initiative, Kashika Malhotra, Founder & CEO, Yoginii, said,

    “Mother’s Day is ultimately about presence, connection, and appreciation. Through this campaign, we wanted to create a mindful space where mothers and daughters could truly pause, spend quality time together, and celebrate the bond they share.”

    Through initiatives like these, Yoginii continues to build wellness-led community experiences centred around balance, mindfulness, and meaningful connection.

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  • Teenage sensation Vaibhav Sooryavanshi emerges as long-term Test prospect for India!

    May 8 (BNP): Teenage cricket sensation Vaibhav Sooryavanshi is receiving growing support for an India debut following his impressive performances in domestic and franchise cricket, with several cricket experts viewing him as a potential long-term asset for the national Test side.

    Teenage sensation Vaibhav Sooryavanshi emerges as long-term Test prospect for India

    The 15-year-old batter, who has largely featured in T20 cricket with limited First-Class experience, has rapidly emerged as one of the most talked-about young talents in Indian cricket. His fearless batting approach, high strike rate, and maturity under pressure have sparked discussions about how quickly exceptional players should be introduced to international cricket.

    Former cricketers and mentors believe Sooryavanshi possesses the talent and temperament needed to succeed at the highest level despite his young age and limited exposure to red-ball cricket.

    Among the strongest voices backing the youngster is mentor Zubin Bharucha, who is widely credited for identifying and bringing Sooryavanshi into the Rajasthan Royals setup. Bharucha has urged the BCCI to take a bold step similar to the one taken with legendary batter Sachin Tendulkar during his teenage years.

    Referring to Tendulkar’s iconic Test debut against Pakistan in 1989, Bharucha said exposing extraordinary young talent to the highest level at the right time can significantly accelerate development and confidence. According to him, Sooryavanshi’s batting ability and fearless approach already place him ahead of several players waiting for opportunities.

    Although the teenager has primarily opened the batting throughout his career, Bharucha believes his long-term future in Test cricket may lie in the middle order rather than at the top. He suggested that Sooryavanshi could eventually become highly effective in positions five or six in India’s Test lineup, roles often associated with players like Rishabh Pant and Ravindra Jadeja.

    The mentor also highlighted the youngster’s strong back-foot play and technical adaptability, qualities that could help him succeed in challenging conditions once he gains more experience against swing and seam bowling.

    Bharucha emphasized that while Sooryavanshi possesses exceptional natural talent, mastering red-ball techniques will be crucial for long-term success in Test cricket. He noted that while the youngster could initially flourish in familiar Indian conditions, overseas environments with heavy seam movement and overcast conditions would provide tougher challenges.

    Despite his limited First-Class experience, Sooryavanshi’s rapid rise through youth cricket and franchise competitions has generated immense excitement among fans and cricket analysts alike. While many experts believe immediate Test selection may still be premature, there is growing agreement that the teenager has the potential to become a major part of India’s future across formats.

  • Innovation Takes Centre Stage in Marrakech with Les Roches Supporting Emerging Tourism Startups

    Innovation Takes Centre Stage in Marrakech with Les Roches Supporting Emerging Tourism Startups

    India May 08: Les Roches, through its innovation hub SPARK, has congratulated the winners of the UN Tourism National Startup Competition, an initiative supporting entrepreneurs who are redefining global tourism through innovation and technology. The winners were announced during the International Conference on Technological Innovation and Tourism Investments, held in Marrakech, Morocco.

     
    The competition recognized innovation across three categories: Digital TourismGaming for Leisure, and Moroccan Gastronomy. The selected startups stood out for their innovative approaches and for showcasing Moroccan creativity on the global stage:
    • [beyondthemap.online]Beyond the Map — Overall winner, recognized for combining augmented reality, AI agents and text‑to‑speech technology to offer travelers immersive experiences at historical landmarks and cultural heritage sites.
    • Mossika — Winner of the Gaming for Leisure category, an online music education platform that connects learners with musicians and their cultures through a deeply human‑centered approach.
    • [medina-mirage.com]Medina Mirage — Winner of the Moroccan Gastronomy category, recognized for its effective use of technology to craft immersive dining experiences for tourists.
    Prior to the conference, all finalists participated in masterclasses and one‑to‑one mentoring sessions with Bridge for Billions. Moving forward, the selected teams will continue their journey with targeted mentoring and support from Les Roches and SPARK, while joining the UN Tourism Innovation Network, gaining access to international expertise, strategic partnerships and pathways to scale.
     
    Education and Innovation in the Service of Global Tourism
     
    With more than 70 years of experience educating leaders in hospitality and luxury tourismLes Roches has developed SPARK as a living ecosystem of innovation and entrepreneurship, connecting visionary founders with the tools, mentorship and global network needed to transform ideas into solutions with worldwide impact.
     
    “We are living through an extraordinary moment for tourism. Technology is opening possibilities that were unthinkable just a few years ago. At Les Roches, we want to be at the heart of this transformation — not only by educating future leaders, but also by supporting those who are reinventing the rules of the industry,” said Carlos Díez de la Lastra, Chief Executive Officer of Les Roches and jury member.
     
    The collaboration with UN Tourism reflects a shared vision of a more sustainable, inclusive and intelligent tourism sector. By supporting the winning teams through SPARK, Les Roches reinforces its commitment to responsible and innovative tourism, empowering entrepreneurial talent to develop solutions capable of transforming destinations, generating value for local communities and enriching traveler experiences worldwide. 
  • Amit Shah Arrives in Kolkata for Crucial BJP Legislature Party Meeting Amid West Bengal CM Race

    Kolkata, May 8 (BNP): Union Home Minister Amit Shah arrived in Kolkata on Friday to chair a crucial Bharatiya Janata Party (BJP) Legislature Party meeting for the selection of the Chief Minister in West Bengal following the party’s historic victory in the Assembly elections.

    Amit Shah has been appointed as the Central Observer for the election of the BJP legislative party leader, while Odisha Chief Minister Mohan Charan Majhi has been named as the co-observer for the process. The high-level meeting is expected to finalise the BJP’s choice for the top post in the State.

    Senior BJP leaders Suvendu Adhikari and Agnimitra Paul have emerged as frontrunners in the race for the Chief Minister’s position, although the party leadership has not made any official announcement so far.

    The political developments come after the BJP secured a landslide mandate in the West Bengal Assembly elections, winning 207 seats in the 294-member House, while the Trinamool Congress managed to secure 80 seats. The victory marks the first time the BJP is set to form a government in West Bengal. Political analysts also noted that Prime Minister Narendra Modi has become the first sitting Prime Minister after Jawaharlal Nehru under whose leadership the BJP has won power in the State.

    West Bengal Governor R N Ravi dissolved the State Legislative Assembly on Thursday following the election results. The dissolution came amid heightened political activity and intense discussions over government formation in the State.

    Meanwhile, political tensions escalated after Chandranath Rath, personal assistant to BJP leader and Chief Ministerial hopeful Suvendu Adhikari, was shot dead by unidentified bike-borne assailants at Madhyamgram in North 24 Parganas district late on Wednesday night. Rath sustained multiple bullet injuries to the head, chest, and abdomen and was declared dead after being rushed to a hospital.

    The body of Chandranath Rath was later taken to his hometown in Purba Medinipur district. West Bengal Police have reportedly recovered the motorcycle believed to have been used by the assailants during the attack. The vehicle has been brought to Madhyamgram Police Station for investigation.

    In another major development, outgoing Chief Minister Mamata Banerjee reportedly refused to visit Raj Bhavan to tender her resignation after the election defeat, stating that she had not accepted the loss. According to the Election Commission of India, Mamata Banerjee lost the Bhabanipur Assembly seat to BJP leader Suvendu Adhikari by a margin of over 15,000 votes.

    The BJP Legislature Party meeting chaired by Amit Shah is expected to play a decisive role in shaping the party’s leadership and future governance strategy in West Bengal.

  • TVK Eyes Alliance Expansion in Tamil Nadu; Focus on CPI(M), CPI and VCK Ahead of Elections!

    Chennai, May 8 (BNP): Tamilaga Vettri Kazhagam (TVK), led by actor-turned-politician Vijay, has intensified efforts to build a broader political alliance in Tamil Nadu, with focus reportedly shifting towards parties such as the CPI(M), CPI, and Viduthalai Chiruthaigal Katchi (VCK) ahead of the upcoming elections.

    TVK Eyes Alliance Expansion in Tamil Nadu; Focus on CPI(M), CPI and VCK Ahead of Elections!

    Political observers believe TVK is exploring possibilities of forging a strong coalition aimed at expanding its influence across the State and strengthening its electoral prospects. Sources indicate that discussions and informal engagements are underway with Left parties and VCK as TVK seeks to position itself as a major alternative force in Tamil Nadu politics.

    The move comes amid increasing political activity in the State, with parties recalibrating their strategies and alliances in preparation for future electoral battles. Analysts say an alliance involving TVK and parties such as CPI(M), CPI, and VCK could potentially attract sections of youth, minority, and socially progressive voters.

    Although no official announcement regarding a formal alliance has been made so far, speculation has intensified following recent political developments and statements from leaders associated with various opposition groups.

    TVK chief Vijay has repeatedly emphasized issues related to governance, social justice, youth empowerment, and transparency, themes that are also central to the political positioning of Left parties and VCK. Political circles are closely watching how alliance negotiations evolve in the coming months.