8, May 2026
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.
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- By Neel Achary
8, May 2026
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.
8, May 2026
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.
8, May 2026
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.
8, May 2026
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.
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.
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.
8, May 2026
ICICI Prudential Life BSE Enhanced Value 30 Index Fund launched for customers seeking disciplined exposure to value opportunities
Bangalore, May 08: ICICI Prudential Life Insurance has launched the ICICI Prudential Life BSE Enhanced Value 30 Index Fund for its Unit Linked Insurance Plans (ULIPs). The fund is designed to provide customers with exposure to attractively valued companies from the large and mid-cap universe and build wealth over the long-term.
Commenting on the launch, Mr. Manish Kumar, Chief Investment Officer, ICICI Prudential Life Insurance Company Limited, said,
“The ICICI Prudential Life BSE Enhanced Value 30 Index Fund offers a structured and transparent way for customers to participate in equity markets by focusing on companies that are attractively valued relative to their fundamentals.
The fund’s strategy is built on key pillars including value-based stock selection using multiple financial parameters, diversification across sectors, market capitalisation segments, and a disciplined, rule-based investment process with periodic review and rebalancing.
Importantly, this approach enables customers to stay invested with confidence, even during volatile phases, over the long term, while participating in opportunities that may be relatively under-represented.”
As of March 30, 2026, the ICICI PRU BSE Enhanced Value Index has delivered annualised returns of 32% over three years, 28.9% over five years and 19.4% over ten years, reflecting the strength of a disciplined, value-oriented investment approach over market cycles. The fund adopts a passive, index-mirroring strategy, aiming to track the underlying index and provide consistent exposure to value opportunities.
The fund tracks the ICICI PRU BSE Enhanced Value Index, which comprises 30 companies selected from the BSE Large & Mid-cap universe based on valuation parameters such as book value-to-price, earnings-to-price and sales-to-price ratios. This is a customized index aligned to BSE Enhanced Value Index, subject to IRDAI regulatory requirements. The customized index is designed to measure the performance of the 30 companies in the BSE LargeMidCap with the highest valuations based on three fundamental measures – book value-to-price, earnings-to-price and sales-to-price. In case a stock cannot be selected due to regulatory guidelines, the subsequent eligible stock(s) will be selected to maintain a cohort of 30 stocks. The index follows a transparent, rules-based methodology to identify companies with strong underlying fundamentals relative to their market valuations.
The index is reviewed and rebalanced twice a year, ensuring that the portfolio remains aligned with evolving opportunities across sectors. It also incorporates limits on stock and sector exposure to maintain diversification and portfolio balance.
The ICICI Prudential Life BSE Enhanced Value 30 Index Fund will be available through ICICI Prudential Life’s ULIP offerings such as ICICI Pru Signature Assure, SmartKid Assure with ICICI Pru Signature Assure, ICICI Pru Smart Insurance Plan Plus (SIP+) amongst other ULIP products along with Life Cover, available on www.iciciprulife.com. Thus, enabling customers to combine long-term equity participation with life insurance.
8, May 2026
Mother’s Day 2026: Celebrating Her with the Timeless Power of Rubies
Mumbai, May 08: This Mother’s Day, Gemfields invites you to honour the women who shape our lives with a gift as enduring and meaningful as their love – the ruby.
- Fehmida Lakhany x Gemfields Ruby and Diamond Choker
- IVY x Gemfields Ruby and Diamond Chandelier Earrings
- Fabergé x Gemfields Colours of Love Cosmic Curve Rose Gold Ruby Eternity Ring
- DIACOLOR x Gemfields Gleaming Flower Earrings
- The Line x Gemfields Ruby Ladhi Ratan Necklace
8, May 2026
Mother’s Day at Masala Library, BKC
Celebrate the most special woman in your life with a meal that is as extraordinary as she is. This Mother’s Day, Masala Library invites you to experience the cutting edge of post-colonial Indian chemistry, where traditional flavors meet modern elegance.
Join us for a memorable culinary journey, and as a token of our love, enjoy a complimentary signature dessert specially crafted to end your celebration on a sweet note.
Highlight: Complimentary dessert for every Mother
Reservations: +91 84549 00900
Location: Masala Library by Jiggs Kalra (BKC, Mumbai)
8, May 2026
Jaro Education Delivers Strong Q4 FY26 Performance with 17.30 percent YoY PAT Growth; Board Recommends Final Dividend of 30 percent per share
India, May 08: Jaro Education, a higher education and upskilling company, announced its audited financial results for the quarter and year ended March 31, 2026, reporting strong growth in profitability supported by sustained learner demand, expanding institutional partnerships, and continued operating momentum.
Total income for Q4 FY26 increased 10% YoY to ₹8,184.45 lakh. Profit After Tax (PAT) for the quarter rose 17% YoY to ₹2,133.28 lakh from ₹1,818.65 lakh in Q4 FY25, while PAT margin improved to 26% from 24%.
EBITDA for Q4 FY26 stood at ₹3,015.30 lakh compared to ₹2,843.38 lakh in the corresponding quarter last year, reflecting a growth of 6% YoY. EBITDA margin stood at 37%.
The quarter saw continued demand for industry-aligned and flexible learning formats among working professionals, particularly across management and technology-led programs.
For the full year FY26, total income grew 12% YoY to ₹28,500.18 lakh, while PAT increased 2.41% YoY to ₹5,291.64 lakh. The company generated healthy operating cash flows of ₹5,744.70 lakh during the year, with EBITDA standing at ₹8,321.15 lakh.
Operationally, the company recorded 32,236 admissions during FY26 and continued expanding its institutional network through strategic collaborations and program launches.
During the quarter, Jaro Education entered into a strategic partnership with SP Jain Institute of Management and Research (SPJIMR) and renewed collaborations with institutions including IIM Ahmedabad and IIT Delhi. The company also launched 18 new programs across management, technology, and leadership domains.
The Board of Directors recommended a final dividend of 30% per equity share having a face value of ₹10 each, subject to shareholders’ approval at the upcoming Annual General Meeting (AGM). This is in addition to the interim dividend of 20% per share declared during the December quarter, taking the total dividend for FY26 to 50% per share, reflecting the company’s continued focus on delivering shareholder value alongside business growth.
Commenting on the performance, Dr. Sanjay Salunkhe, Chairman and Managing Director, Jaro Education, said: “Our Q4 FY26 performance reflects the strength of our scalable business model, sustained learner demand, and deep institutional partnerships. During the year, we continued to expand our program portfolio, strengthen learner engagement, and build long-term collaborations with leading academic institutions.
We are witnessing increasing demand for industry-relevant and outcome-oriented learning solutions across management, technology, and leadership domains, reinforcing the long-term growth potential of the higher education and upskilling ecosystem.
Looking ahead, we remain focused on scaling our operations, deepening institutional relationships, enhancing learner outcomes, and delivering sustainable growth with strong operational discipline.”
8, May 2026
Samsung Launches Fifth Edition of ‘Samsung Solve for Tomorrow’, Doubles Grants to INR 2 Crore for Winning Teams
India May 08: Samsung has announced the launch of the fifth edition of Samsung Solve for Tomorrow, its flagship innovation and education programme designed to empower India’s next generation of young innovators to build technology-driven solutions for real-world challenges.
As Samsung marks 30 years in India, the company is significantly expanding the scale and ambition of the programme, reinforcing its long-term commitment to India’s innovation ecosystem and the vision of #DigitalIndia.
In line with this ambition, the 2026 edition will provide incubation grants worth INR 2 crore to the top four winning teams, enabling them to further develop and scale their ideas through incubation support at IIT Delhi. In addition, the top 20 teams will receive INR 20 lakh, while the top 40 teams will be awarded INR 8 lakh along with Samsung devices and mentorship support.
“We are proud to have been a trusted partner in the country’s digital and innovation journey over the last 30 years, contributing to a growing culture of innovation led by its youth. Samsung Solve for Tomorrow has evolved into a strong platform for nurturing young innovators and enabling a pipeline of emerging startups addressing real-world challenges. With the 2026 edition, we are taking innovation deeper into Bharat—more than doubling our outreach to schools and expanding access for young changemakers. In its fifth year, the programme reflects our sustained commitment to India’s innovation journey, while strengthening the ecosystem through design thinking, skilling, industry exposure, and start-up support, in alignment with the vision of #DigitalIndia,” said JB Park, President & CEO, Samsung Southwest Asia.
Empowering the Next Generation of Innovators
This year’s programme invites students aged 14–22 to submit ideas across four themes — AI Living for India, Health & Education, Environmental Sustainability, and Sport & Tech — reflecting the growing role of technology in building a smarter, more inclusive, and future-ready India.
The six-month programme will provide thousands of participants access to hands-on prototyping support, investor connects, expert mentorship, immersive workshops, and extensive training designed to help transform ideas into scalable solutions.
Industry, Academia, and Government Come Together
“Bharat is being shaped by a new generation of young innovators who are solving for the world as well. Through Samsung Solve for Tomorrow, we see early-stage ideas being nurtured into viable solutions with the potential to scale. Such initiatives strengthen the pipeline of future entrepreneurs and innovators,” said Prof. Ajay Kumar Sood, Principal Scientific Adviser to the Government of India.
“We believe that young students can find innovative solutions to local, regional and global problems. Our continuing collaboration with Samsung Solve for Tomorrow enables students to access deep-tech mentorship, interdisciplinary research and prototyping support. This initiative reflects how academia and industry together can accelerate innovation that addresses both national priorities and global challenges,” said Prof. Rangan Banerjee, Director, IIT Delhi.
“India’s journey towards a knowledge-driven and innovation-led economy depends on how effectively we nurture scientific temper and problem-solving skills among our youth. Platforms like Samsung Solve for Tomorrow play an important role in encouraging young people to apply science and technology to solve real-world challenges aligned with national priorities,” said Dr. Sapna Poti, Director, Office of Principal Scientific Adviser to the Government of India.
Programme Journey: From Ideas to Impact
Applications for Samsung Solve for Tomorrow 2026 will remain open from May 7 to July 3, 2026. During this phase, Samsung will conduct 100 design-thinking workshops across schools and colleges nationwide to equip participants with foundational problem-solving and ideation skills.
Following the application phase, the top 100 teams 25 from each theme will be shortlisted for expert-led online training and mentorship. After a video pitch round, 40 teams will advance to the next stage, with 10 teams selected from each theme.
Exposure to World-Class Innovation Ecosystems
Semi-finalists will participate in intensive mentoring sessions with Samsung leaders and industry experts, alongside curated visits to Samsung’s R&D centres in Bengaluru, Noida, and Delhi and Head Office offering first-hand exposure to world-class innovation ecosystems.
Participants will also undergo an immersive prototyping programme and residential bootcamp designed to refine ideas and prepare teams for the final stage of the competition.
The top 20 teams — five from each theme — will advance to the grand finale and participate in investor meets, pitch presentations, and mentoring sessions with Samsung experts.
Awards, Grants, and Incubation Support
- Top 100 teams: Certificates of achievement
- Top 40 teams: INR 8 lakh and Samsung laptops for every member
- Top 20 teams: INR 20 lakh and Samsung Galaxy Z Flip smartphones for every member
- Special Awards: Digital Impact Award and Community Choice Award with a combined prize pool of INR 2.5 lakh
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Top 4 winning teams: Incubation grants worth INR 2 crore at IIT Delhi
A Global Platform for Young Changemakers
First launched in the US in 2010, Samsung Solve for Tomorrow is now operational in 68 countries and has engaged more than 3 million young people.
Samsung Newsroom India: Samsung Launches Fifth Edition of ‘Samsung Solve for Tomorrow’, Doubles Grants to INR 2 Crore for Winning Teams
