INDIAN EXPRESS

Trump threatens 25% tariffs on steel, aluminium, raises dumping concerns

Asus President Donald Trump issued a fresh threat of imposing a 25 per cent tariff on steel and aluminium, Indian companies feared a downward pressure in domestic steel prices due to the risk of losing out on the largest steel consumer market. On top of this, there are concerns over dumping with steel imports already on the rise due to trade diversion and protectionist measures that began when Trump imposed 25 per cent import duty on steel products and 10 per cent on certain aluminium products during his first term.

Doctors flag gut concerns over weight loss drugs

They are procuring these drugs from the grey market and taking them unsupervised because they are not available in India yet. The craze for weight loss drugs has exploded, especially in the US and Europe, with game-changing treatments. It all began with Ozempic, a diabetes drug by Novo Nordisk, whose active ingredient, semaglutide, was FDA-approved in 2017. Tirzepatide, found in Mounjaro and Zepbound, mimics GIP and GLP-1 hormones to activate insulin production. Semaglutide, found in Ozempic and Wegovy, mimics only GLP-1. Notably, the oral semaglutide Rybelsus, approved only for diabetes in India, is used off-label for weight loss.

In first, US F-35 & Russian Su-57 take to the skies at Aero India

The Russian Su-57 and the American F-35 Lightning II-two of the world's most advanced fifth-generation fighter aircraft- took to the skies of Bengaluru on the first day of Aero India . Offering defence enthusiasts a glimpse of their manoeuvres at the same event for the very first time. Their performances were clear showstoppers, overshadowing even the traditionally acrobatic display by the Surya Kiran team. It was the Su-57's debut at Aero India. The F-35, manufactured by Lockheed Martin, had participated in the previous edition of the premier defence exposition. The Defence Ministry had said in a statement the previous day: "It marks a milestone in global defence collaboration and technological advancement, offering aviation enthusiasts and defence experts an unparalleled prospect to witness these state-of-the-art warplanes."

Article 200 expects Governor to tell state reasons for withholding assent to Bills: SC

The Supreme Court said that Article 200 of the Constitution dealing with the Governor's powers to withhold or give assent to Bills passed by the state legislature expects the Governor to communicate to the state the reasons for withholding assent. "The Governor has his own importance. He is an important figure in the Constitution. He has an important role to play, undoubtedly. On the contrary, the proviso expects the Governor to make himself very clear before the House that look, this is what it has to do," Justice J B Pardiwala presiding over a two-judge bench said. The bench also comprising Justice R Mahadevan was hearing petitions filed by the Tamil Nadu government challenging Governor RN Ravi's decision to withhold assent to certain Bills and forward some to the President.

TURNING ON THE HEAT

According to the state government's records, nearly 280 militants have been killed by security forces, more than 1,000 Maoists have been arrested and 925 insurgents have surrendered. The fact also is that in the last 15 years or so, left wing extremism has been running out of steam. From being "the greatest internal security threat to our nation" - as the then Prime Minister Manmohan Singh described it in 2009-Maoism is today restricted to a few pockets in Chhattisgarh and adjoining areas of Maharashtra. The number of Maoist-affected districts has come down from more than 220 in the early 2000s to less than 40, with violence largely being reported from about 20 districts.

NOT A DEAL, A RELATIONSHIP

The economic ties between the four European Free Trade Association (EFTA) states (Iceland, Liechtenstein, Norway and Switzerland) and India hold immense potential. The recently signed EFTA-India Trade and Economic Partnership Agreement (TEPA) opens the door to long-term cooperation. The launch of the EFTA desk in India on February 10 marks a step beyond typical trade facilitation; it represents a commitment to an ambitious, win-win partnership that challenges both sides to think bigger, aim higher and go beyond business as usual. What makes the EFTA-India partnership unique is its long-term focus. This is not merely a transactional arrangement to improve market access, but the basis for a long-term relationship grounded in trust, shared values and a vision for mutual growth. The EFTA desk embodies this commitment by fostering connections that benefit economies and societies of all parties, not just economically but socially and environmentally as well.

In Paris, an opportunity

DeepSeek, which spooked big tech investors on Wall Street last month with its generative Al chatbot, a direct rival to ChatGPT. It introduced a new approach to building Al models with fewer resources through reverse engineering, one that fundamentally challenges how US tech companies have been approaching Al development. The architectural advancements made by China demonstrate that similar, or even better, Al models can be developed with much less money. This challenges several fundamental assumptions about Al progress - assumptions the US has been so confident about, treating its approach as the "gold standard".

₹ fall: Overseas loans turn dearer for Indian cos

The weakening rupee has started impacting Indian corporates that have gone for foreign currency borrowings, compounding concerns at a time when trade wars and economic slowdown are casting a shadow over global growth prospects. The five per cent depreciation in the rupee since April 2024 has directly increased the rupee equivalent of debt re-payment for companies relying on external commercial borrowings (ECBs) by the same percentage, pinching the corporate sector. There could be more trouble in the offing as there are clear indications from the RBI that it may not be averse to the idea of a steady depreciation in the rupee in line with other currencies. RBI Governor Sanjay Malhotra last week said the RBI's interventions in the forex market focus on smoothening excessive and disruptive volatility rather than targeting any specific exchange rate level or band.

Paris AI Summit kicks off with PM Modi as co-chair: What to expect

France Will be the centre of the artificial intelligence (Al) debate, with the official beginning of the third edition of the Al Action Summit in its capital, Paris. India's Prime Minister Narendra Modi is set to co-chair the Paris Summit. It's the latest in a series of global dialogues around Al governance with two previous editions held in the UK in 2023, and a smaller gathering in Seoul, South Korea, last year. It also comes amid the meteoric rise in popularity of the low-cost Chinese foundational model DeepSeek, which has shook up the industry. The Summit will focus on five major themes, including public service Al, future of work, innovation and culture, trust in Al, and global governance of Al. The summit is expected to announce a key outcome-a foundation that will look at Al in the public interest to cater to the needs of the Global South.

10.

Switzerland, Liechtenstein pushing for bilateral investment treaty with India

Two of the four-member European Free Trade Association (EFTA) countries-Switzerland and Liechtenstein-are pushing for a bilateral investment treaty (BIT) with India after the regional trade organisation signed a trade agreement with India in March last year, committing to a $100 billion investment over 15 years. Initially, a BIT was not part of the discussion, but two of the EFTA countries, Switzerland and Liechtenstein, are now advocating for a treaty after India unilaterally cancelled its old BITs, two people familiar with the development told The Indian Express. Switzerland is the largest trading partner of India among the countries in the EFTA region. This decision followed a ruling by the Indian Supreme Court last year, which determined that the DTAA cannot be enforced unless it is notified under the Income Tax Act. As a result, Swiss companies such as Nestlé face higher taxes on dividends.

11.

BJP set to take power: recalling Centre vs AAP govt in Delhi

Article 239 of the Constitution, which deals with the administration of Union Territories, envisages a power structure in which a President governs a UT through an administrator or Lieutenant Governor appointed by her. However, for certain UTs, Article 239A provides for a dual power structure, with a legislative Assembly - either fully elected, or partly nominated by the President and partly elected and a Council of Ministers as well as an L-G appointed by the President. There are currently three UTs with an Assembly -Delhi, Puducherry, and Jammu and Kashmir. Article 239AA, inserted through the Constitution (Sixty-Ninth Amendment) Act in 1991, specifically deals with the governance of Delhi. The provision effectively creates three power centres in the national capital - the Chief Minister's Secretariat, the Lieutenant Governor's Raj Bhavan, and the Union Home Ministry which controls law and order.

12.

India, France, and AI

"I Believe that France cannot continue to be France if it leaves its role in the world by the wayside", French President Emmanuel Macron wrote in his memoir, Revolution, in 2017. As chair of the Artificial Intelligence (Al) Action Summit in Paris, the President would be trying to fulfil this obligation. And he has invited Prime Minister Narendra Modi to co-chair the Summit, offering India an important part in the effort to make and shape the rules for technologies on the next frontier. India's Strategic Partnership with France is its oldest, and the two countries have stood together in addressing a range of global issues. In 2015, they launched the International Solar Alliance on the sidelines of the Paris climate conference, and they are co-chairs of the Coalition for Disaster Resilient Infrastructure (CDRI). Together, they have made significant contributions to writing the code for a green and sustainable planet; they are now collaborating to mark the contours of development in the digital world.

13.

Jan 2025 was warmest ever: Why La Niña did not bring down temperatures

This January was the hottest on record, with the global average surface air temperature being 1.75 degrees Celsius above pre-industrial levels (1850-1900 average), Europe's Copernicus Climate Change Service (C3S) said last week. This made January 2025 the 18th of the last 19 months in which global average surface air temperatures breached the 1.5 degree Celsius threshold. C3S also said temperatures reached record-breaking levels despite the development of La Niña conditions in the tropical Pacific, and their temporary cooling effect on global temperatures. Scientists had expected that La Niña, which emerged in December last year, would bring some relief from the heat. La Niña is one of the three phases of what is known as the El Niño Southern Oscillation (ENSO), a climate phenomenon characterised by changes in sea temperatures along the central and eastern tropical Pacific Ocean, accompanied by fluctuations in the atmosphere overhead. ENSO influences, alters, and interferes with global atmospheric circulation, which, in turn, influences the weather worldwide.

Notifications

All Exams