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New US tariffs no big problem for India which has huge domestic market: Mark Mobius

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New Delhi, Aug 7: Billionaire investor Mark Mobius said on Thursday that upcoming 50 per cent tariffs on India, imposed by US President Donald Trump, will have less impact on the country as it has a massive domestic market to cushion itself, and does not fully depend on exports like China.

Speaking to IANS, the global investor who runs the Mobius EM Opportunities Fund for emerging markets (EMs), said India is in a good position to navigate these tariffs than other nations. “India has a huge domestic market and does not depend on exports like China. Also, Indian software exports are great and escape tariffs,” he noted.

“Conclusion: no big problem for India,” Mobius told IANS. Shipments worth more than $30 billion involving pharmaceuticals and certain electronic items such as smartphones, semiconductors, and energy are so far secure from higher duties as these are still under an exemption list. Trump has not yet included these key industries in the new tariffs that are slated to come into effect in the next 21 days.

Moreover, India exported drugs and pharmaceuticals as well as electronics products (mostly smartphones) to the tune of $10.5 billion and $14.6 billion in FY25, constituting 29 per cent of its overall outbound shipments to the US. Petroleum exports, worth $4.09 billion in FY25, are also currently secure from Trump’s fresh tariffs thanks to energy being on the exemption list as well.

Indian exports to the US stood at $86.51 billion in FY25. According to Mobius, the kind of GDP growth India is witnessing will help it on the road to become the third-largest economy in the world.

“The country is witnessing 6-7 per cent growth despite global uncertainties which shows the resilience in its economy. It will help India continue to move up the ladder,” said Mobius. In just a few years, India has risen from being the world’s 11th-largest economy to the fourth largest. As of 2025, India trails behind the US, China and Germany in terms of total GDP.

IANS

Uttarakhand cloudburst: Over 50 people airlifted to safety, Army intensifies relief operations 

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Dehradun, Aug 7:  Two days after the cloudbursts-triggered flashfloods wreaked havoc in Uttarkashi region of Uttarakhand, the relief operations are in full swing, and people are being airlifted to higher locations while those having sustained injuries are being attended to swiftly.

Till today morning, more than 50 individuals were airlifted to safety and evacuated from the Dharali, the flashfloods-hit zone to upper reaches in Matli by helicopter. From there, the people were being transported to their respective destinations.

The officials also released a list of 55 stranded individuals, along with their phone numbers, who were airlifted to safety on Thursday – two days after raging waters swallowed villages in Dharali.

During the day, many more are expected to be lifted out via helicopters. The rescue work is being spearheaded by teams of the Indian Army, ITBP, NDRF, SDRF in coordination with Uttarakhand police and the local administration.

Meanwhile, the Indian Army has also intensified its relief operations in the cloudburst-hit region of Dharali near Harsil. Over 225 troops, including specialised engineer and medical teams, are on the ground conducting rescue and relief tasks. Drones have also been deployed for aerial reconnaissance and locating stranded individuals in inaccessible areas.

With multiple road breaches reported at Bartwari, Linchigad, Gangrani and near Dharali, Chinook and Mi-17 helicopters are positioned at Dehradun for airlift operations, while an ad-hoc aviation base is being established at Matli Helipad.

Recco radar teams, search-and-rescue dogs, and five civil helicopters have been pressed into service to augment relief and rescue efforts. “Lt Gen Sengupta, Army Commander Central Command and GOC UB Area present at Dharali, and seamless coordination underway with HQ Central Air Command, every possible effort is being made to ensure the safe evacuation and care of all affected.

The Indian Army stands firm with the people of Uttarakhand in this hour of need,” it said in a statement this morning. Meanwhile, the Met Department has issued a Red Alert for multiple areas of the hilly state including Pauri Garhwal, Tehri, Uttarkashi, Dehradun, Champawat, Udham Singh Nagar, Bageshwar, and Nainital, till August 12. Schools and educational institutions have been shut as part of precautionary measure and people are advised to stay indoors.

IANS

6th round of India-US negotiations on Aug 25 important: Morgan Stanley

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New Delhi, Aug 7: The sixth round of India-US negotiations to reach an interim trade deal, currently slated for August 25, will be important as US President Donald Trump announced an additional 25 per cent tariffs on India, raising the total tariffs to 50 per cent effective from August 27, a Morgan Stanley report said on Thursday.

The report stated that it will “closely monitor export growth and domestic demand data for spillover impact, along with any incremental policy response”. In FY25, India’s total exports to the US stood at $86.5 billion (2.2 per cent of GDP).

The original 25 per cent tariff and the additional penalty are both applicable on 67 per cent of India’s exports to the US, which translates to $58 billion (1.5 per cent of GDP) (the remaining are sectors under section 232).

To assess the impact of tariffs on India’s GDP, we use inferences from the input-output table modelled by our global team. Assuming all goods exports are subject to a 50 per cent tariff rate, the direct impact on growth is likely to be 60bps while the indirect impact could be of a similar magnitude, over a period of 12 months.

A similar sensitivity analysis for the 67 per cent of non-exempted goods suggests that the direct impact could be 40bps while the indirect impact could be of a same magnitude, taking the total impact to 80bbps, said the report.

The sensitivity analysis refers to linear impact basis shock from external demand and does not take into account mitigating factors such as domestic policy response and or export market diversification.

“On the monetary policy front, we expect RBI to undertake further rate easing, with potentially two additional rate cuts (25bps each), over and above the 25bps rate cut pencilled in our base case. Moreover, the central government is likely to pause the fiscal consolidation and potentially allow capital spending to increase to support domestic demand,” the report mentioned.

“We will closely monitor geopolitical developments and high frequency growth data. On the trade side, the sixth round of negotiations between India and the US, currently slated for Aug 25, will be important to track. We will closely monitor export growth and domestic demand data for spillover impact, along with any incremental policy response,” it added.

IANS

Leaders slam Trump’s tariff threat over Russian oil; call for retaliatory measures

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New Delhi, Aug 7: Leaders across India’s political spectrum on Thursday strongly reacted to US President Donald Trump’s announcement of imposing a punitive 25 per cent tariff on India for continuing to buy oil from Russia — a move that would raise total tariffs on Indian goods to 50 per cent.

In a sharp rebuke, Indian leaders questioned Washington’s authority to “punish” sovereign countries for pursuing independent foreign policy and warned that retaliatory measures would be considered if the tariffs were not rolled back.

Trump was singling out India, even though countries like China and Turkey continue to import oil from Russia. India officially described the move as “extremely unfortunate”, saying it was being penalised for actions that “several other countries are also taking in their own national interest.”

Reacting to the developments, BJP MP Shashank Mani Tripathi told IANS, “I believe it is wrong for any country to impose tariffs on another simply because it maintains good relations with a third country.

The US itself continues to buy a significant amount from Russia. The US cannot punish other countries — it doesn’t have the authority. I believe that Trump would be forced to take back all the tariffs imposed on our democratic nation.” Shiv Sena (UBT) MP Priyanka Chaturvedi slammed the US for “double-standards and told IANS, “The way Donald Trump is selectively targeting India while ignoring other countries that deal with Russia suggests a certain political bias. It seems like an attempt to isolate or bully India into signing trade deals on their terms.”

“India is under no compulsion to compromise its national interest or sovereignty. If tariffs have been imposed, we must also consider retaliatory measures. The Trade Minister should inform the people about our stance. Trading with us and then donating to Pakistan just shows the hypocrisy of the US. America should roll back the tariffs,” Chaturvedi added.

AAP MP Ashok Kumar Mittal questioned the inconsistency in US policy. Speaking to IANS, he said, “When the US itself imports uranium, chemicals, fertilisers, and metals from Russia, where do those go? Your European allies traded $68 billion with Russia last year — why didn’t you impose similar actions on them? Why this double standard?”

“I would like to say that the US should follow one consistent policy — the same one it follows with Europe and other nations. They should stop issuing such threats to India. Neither will India bow down to their pressure, nor will it accept their unreasonable demands,” he added.

Samajwadi Party MP Akhilesh Yadav, however, said that since the relations between Washington and New Delhi go way back, the focus should be on further strengthening the bilateral ties. “We must maintain our relationship with the United States, a powerful nation with which we’ve had ties not just recently, but for a long time. The focus should be on how to strengthen and improve those relations further,” he told reporters.

Meanwhile, Maharashtra Congress President H Sapkal criticised the government’s handling of foreign affairs. Speaking to IANS, he said, “Our foreign policy is unfortunately weak, and its effects have been visible for quite some time. To please a select handful of people, whatever India is doing is resulting in consequences that every common citizen has to bear. The nation should be put first, and rational thinking is necessary on this matter.”

IANS

Mumbai to host Sunburn 2025

Sunburn Festival, India’s iconic EDM event, will host its 2025 edition in Mumbai for the first time on December 19–21.
Backed by the Maharashtra government, the move aims to boost music tourism and cultural growth. Ranked #8 in DJ Mag’s 2025 Top 100 Festivals, Sunburn has featured global EDM stars since 2007.
Organizers see Mumbai as the next step in expanding Sunburn’s legacy and energy. (IANS)

Gaming apps case: Deverakonda clarifies after ED visit

Actor Vijay Deverakonda has clarified that he has endorsements for gaming apps and that there is no relation between them. He clarified that gaming apps are completely legal, recognized by the government, and licensed as a business.
He also explained that gaming apps, such as A23, sponsor the Indian Cricket team, Olympics, Indian Women’s cricket team, and IPL.
Deverakonda stated that the Supreme Court and state governments should decide what is right or wrong.
Actor Prakash Raj also appeared before the Enforcement Directorate (ED) to address an alleged betting app case. He stated that this was a case of money laundering and that he did not pursue it.
The Telangana police filed a First Information Report against 25 celebrities and influencers for allegedly promoting illegal betting and gambling apps through their social media platforms. (IANS)

Willem Dafoe to play cold-blooded tycoon in new film

Willem Dafoe, a versatile actor, has revealed his upcoming film, The Birthday Party, which stars him as a Greek billionaire planning an elaborate birthday celebration for his daughter.
The film, adapted from a Greek novel by Panos Karnezis, is directed by Miguel Angel Jimenez and produced by Heretic, a Palme d’Or-winning production outfit. The film stars Emma Suarez, Joe Cole, and Vic Carmen Sonne, who recently starred in Magnus von Horn’s The Girl With the Needle.
Dafoe plays Marcos Timoleon, a shipping magnate who throws a lavish birthday celebration for his daughter, Sofia. The celebration serves as an excuse for Timoleon’s associates and hangers-on to approach him with their own agendas. The film explores the ruthlessness of the billionaire and his secret plan for his daughter’s decision. (IANS)

Why Matthew McConaughey didn’t star in Titanic

Matthew McConaughey, the actor known for his role in the 1997 film Titanic, was reportedly offered the role of Jack Dawson due to his Southern accent. The film’s producer, Jon Landau, wrote a memoir about the situation, stating that McConaughey’s accent did not resonate with the director, James Cameron. However, McConaughey remained positive and said that his accent was “pretty good.” The iconic role of Jack was played by Leonardo DiCaprio, but his career was not affected.
Titanic’ is a 1997 epic romantic disaster film based on the sinking of the RMS Titanic in 1912. The film stars Leonardo DiCaprio and Kate Winslet, and features an ensemble cast including Billy Zane, Kathy Bates, Frances Fisher, Bernard Hill, Jonathan Hyde, Danny Nucci, David Warner, and Bill Paxton. McConaughey has spoken about his audition for the iconic role, stating that it was an on-screen test time and that he was never offered the role.
Despite rumours that he had the role in Titanic and turned it down, McConaughey confirmed that he was never offered the role. He shared that he had been trying to find an agent for the role but never received an offer. (ANI)

Entertainment Buzz

Matt Smith to play villain in Star Wars: Starfighter

Matt Smith, known for his roles in House of the Dragon and Star Wars: Starfighter, is set to join Shawn Levy’s film Star Wars: Starfighter. The film, set five years after Star Wars: The Rise of Skywalker, will feature Ryan Gosling and Mia Goth. Smith, who previously revealed his involvement in The Rise of Skywalker, will play the antagonist. He has a successful career, including his role as the Eleventh Doctor in Doctor Who and Netflix’s The Crown. Levy has previously directed Deadpool & Wolverine and The Adam Project on Netflix. Star Wars: Starfighter is set to release on May 28, 2027. (PTI)

Justin Bieber’s son Jack debuts in new music video

Justin Bieber’s son, Jack Blues, has made his music video debut on August 5. The black-and-white video features special appearances by Bieber’s wife Hailey Bieber and their 11-month-old son, Jack. The video starts with Bieber playing with Jack on a boat, then switches to Jack’s legs kicking in the water. The video includes Bieber kissing Jack’s toes, a close-up of the nearly 1-year-old reaching for the camera, a shot of the family sitting together on the back of a boat, and a clip of Hailey holding onto her son in the water. This is not the first time Bieber has brought his son into his musical endeavors. On July 7, Bieber shared snaps of his son joining him in the music studio, with Jack standing by a coffee table surrounded by Bieber and his friends. The couple married in September 2018 and announced their first child together in May 2024. (IANS)

Joe Jonas reflects on raising daughters after life with brothers

Singer-songwriter Joe Jonas and his brothers Nick and Kevin Jonas have shared their experiences raising two daughters and how their perspective on life has changed since they grew up with only brothers. The brothers appeared on Amy Poehler’s podcast Good Hang, discussing their brotherly bond and their experiences as parents. Joe compared his childhood to raising his and ex-wife Sophie Turner’s daughters, Willa and Delphine, and credited their “superstar” mother, Denise, for raising four sons. She instilled an understanding of how to be nice guys to women and was the boss in raising them. Jonas and Turner welcomed their daughters during their marriage from 2019 to 2023. Kevin and his wife Danielle Jonas also have two daughters, Alena Rose and Valentina Angelina. Nick is also the father of daughter Malti, whom he shares with his wife, Priyanka Chopra Jonas. (IANS)

Rashmika Mandanna sports politician look, hints at new role

Rashmika Mandanna, an actress known for her glamorous style, has recently shared a photo of herself in a politician’s avatar, sparking speculation about her upcoming film or series. The striking look, which is more suited to a cabinet meeting than a red-carpet event, has sparked a strong, authoritative vibe. Rashmika is also gearing up for her upcoming film The Girlfriend, directed by Rahul Ravindran and starring Deekshith Shetty in the lead role. She also has Thama, an intense love story set against a violent backdrop, directed by Aditya Sarpotdar. She will also star in Mysaa, an emotional action thriller directed by Rawindra Pulle and produced by Ajay and Anil Sayyapureddy. The actress is also gearing up for the release of her upcoming film The Girlfriend on September 5. (IANS)

Yunus’ February poll plan divides Bangladesh parties

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DHAKA, Aug 5: Political divisions have deepened in Bangladesh following interim government Chief Advisor Muhammad Yunus’s announcement of general elections in February 2026, ahead of Ramadan. While some parties welcomed the move, others expressed strong reservations, reflecting the ongoing political instability in the country.
The Bangladesh Nationalist Party (BNP) supported the decision, saying it removes uncertainty around the election schedule. BNP leader Salahuddin Ahmed emphasized the party’s commitment to ensuring a fair, impartial, and widely praised election, calling on the nation to prepare accordingly.
In contrast, the National Citizen Party (NCP) criticized the announcement, stating that it undermines the July Charter—a set of reform demands agreed upon during national dialogues. NCP leaders argued that announcing an election date before implementing the charter’s provisions contradicts the goals of political reform and raises doubts about the fairness of the upcoming polls. Senior joint convener Samantha Sharmin voiced concern over vague political statements and called for full implementation of the July Charter before any election takes place.
Yunus, in response to ongoing debates during the second round of the National Consensus Commission’s dialogue, stressed that consensus is being sought on reform proposals. He expressed hope that all parties would soon sign and implement the July Charter to ensure credible elections.
Bangladesh has been in a state of political flux since the Awami League-led government under former Prime Minister Sheikh Hasina was overthrown in violent protests last year. Although several parties united to remove Hasina, differences have now surfaced regarding electoral reforms and the timing of the next general election. Yunus’s announcement has exposed these rifts, raising questions about the path forward for democratic stability in Bangladesh. (IANS)