5, May 2026
Retired WVU Statler College Faculty Member Establishes Chair and Professor Positions with $3M Gift
A retired faculty leader at the West Virginia University Benjamin M. Statler College of Engineering and Mineral Resources is honoring his family’s academic legacy with generous planned gifts to advance education, discovery and service.
Syd Peng, of Fremont, California, pledged $3 million in his will to establish endowed chair and professor positions at the WVU Statler College. His gifts reflect a devotion to WVU that has endured for more than 50 years, including nearly 40 as a faculty member and 28 as department chair of mining engineering.
WVU President Michael T. Benson will recognize Peng’s service to WVU by bestowing a Presidential Honorary Degree during Commencement ceremonies May 15-17.
The positions supported by Peng’s planned gift are named for him and his late wife, Felicia, also a longtime faculty member in mining engineering.
“I am deeply moved by this extraordinary and meaningful gift and grateful for Dr. Peng’s incredible generosity,” Pedro Mago, Glen H. Hiner Dean of the Statler College, said. “The establishment of this endowed chair and professorship, honoring the distinguished careers of Syd and his late wife, Felicia, represents a lasting investment in our college. Their legacy will continue to inspire innovation, scholarship and opportunities for generations to come.”
Peng was drawn to mining while growing up in Taiwan, where he worked in a local coal mine and earned his undergraduate diploma from the National Taipei University of Technology. He immigrated to the U.S. in 1965 to study at the South Dakota School of Mines and Technology.
Syd and Felicia met and married while attending Stanford University, where they graduated with degrees in mining engineering and chemical engineering, respectively.
Syd then worked for the U.S. Bureau of Mines in Minneapolis for a few years as the couple pursued academic opportunities. Peng said there weren’t many universities with dedicated mining engineering departments at the time.
“When I looked around to see where I should go, WVU was the top choice because West Virginia was a coal mining state and I was very much interested in coal mining,” Peng said.
The Pengs found a home at WVU, where they spent decades empowering future generations of mining engineering leaders to excel through energy education and research.
Syd supervised more than 100 research projects and secured over $12 million in funding from government and private sources. His research, rooted in sound theory and practice, spanned more than 300 mines across the U.S. and 16 foreign countries.
He launched the International Conference on Ground Control in Mining, which continues to be held in West Virginia. Peng also wrote many textbooks, conference proceedings and journal articles focused on longwall mining, ground control, surface subsidence, respirable dust, modeling, mine seal and more.
Felicia completed her doctorate as a WVU faculty member in 1989. Her area of expertise was mineral processing, and she was passionate about engaging with students as she taught coal preparation-related subjects.
Throughout their careers, Syd said he and Felicia were always impressed by the loyalty and accomplishments of WVU mining engineering alumni.
“WVU mining engineering alumni are all over the coal mining industry in the U.S.,” he said. “They occupy high places at every major coal company. And wherever I would travel, I noticed alumni would always come from far away to meet with me. They wanted to know how the program was doing, those kinds of things. You need alumni loyalty to the program to support the future of WVU mining engineering.”
Syd and Felicia Peng have previously supported the mining engineering program with gifts to establish a namesake scholarship, professorship and library endowment. That’s why Syd opted to establish broader chair and professor positions in engineering with his latest gifts.
“I think the mining engineering department is well supported, so I felt the next thing I should support is the College of Engineering,” he said. “I would hope we entice faculty to further their research, including support for students.”
Among many other honors, Syd Peng is a member of the National Academy of Engineering and the West Virginia Coal Hall of Fame.
The Pengs remained in Morgantown for several years post-retirement. After Felicia died in 2021, Syd moved to California for its mild weather, easy walking terrain, and proximity to their son and grandchildren.
The Peng gift was made through the WVU Foundation, the nonprofit organization that receives and administers private donations on behalf of the University, in conjunction with Day of Giving. The 24-hour fundraising event, held March 25, raised more than $22 million through 11,202 gifts made by WVU alumni and friends.
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- By Neel Achary
5, May 2026
Odisha CM Mohan Charan Majhi Begins 3 Day Gujarat Visit to Boost Investment Ties
Bhubaneswar / Gujarat, May 5 (BNP): Odisha Chief Minister Mohan Charan Majhi has commenced a three-day official visit to Gujarat, covering four major cities from May 5 to May 7, as part of efforts to enhance industrial cooperation and attract new investments to the state.
The visit is aimed at strengthening Odisha’s engagement with Gujarat’s well-established manufacturing ecosystem and exploring new opportunities across key sectors.
During the tour, the focus will remain on textiles, chemicals and petrochemicals, metals and downstream industries, and pharmaceuticals. The initiative is expected to generate strong investment interest from industrial stakeholders in western India.
The engagement is part of Odisha’s broader strategy to accelerate industrial growth, boost employment generation, and position the state as a competitive investment destination.
5, May 2026
India’s LPG Consumption Drops 16 pc in April Amid West Asia Supply Disruptions
May 5 (BNP): India’s liquefied petroleum gas (LPG) consumption declined sharply by 16% in April, as supply disruptions linked to escalating tensions in West Asia affected availability across both domestic and commercial segments.
According to official data, the fall in consumption reflects the impact of constrained supplies in global energy markets, which have been under pressure due to ongoing geopolitical conflict in the region.
The disruption has particularly influenced cooking gas distribution, leading to reduced usage in household kitchens as well as commercial establishments dependent on steady LPG supply.
Authorities continue to monitor the situation as external supply conditions remain volatile amid continuing instability in West Asia.
5, May 2026
Net Direct Tax Collections Rise 5.1 pc in FY26; Refunds See Marginal Decline
New Delhi, May 5 (BNP): India’s net direct tax collections recorded steady growth in FY26, rising 5.12% year-on-year to ₹23.40 lakh crore, compared with ₹22.26 lakh crore in the previous financial year.
The increase reflects combined collections from corporate and non-corporate taxes, indicating continued expansion in the tax base despite challenging global and domestic economic conditions.
During the same period, tax refund outgo declined slightly by 1.09% to ₹4.71 lakh crore, suggesting relatively stable refund requirements compared to the previous year.
However, overall collections fell short of the revised budget estimate for FY26, highlighting moderation in revenue growth momentum.
The data underscores a stable yet slower-than-expected growth trajectory in direct tax mobilisation for the fiscal year.
5, May 2026
Rupee Falls 20 Paise to 95.43 Against US Dollar Amid Gulf Tensions and High Oil Prices
New Delhi, May 5 (BNP): Indian rupee weakened in early trade on Tuesday, falling 20 paise to 95.43 against the US dollar amid heightened global risk sentiment.
Currency traders attributed the decline to renewed geopolitical tensions following fresh military exchanges between the United States and Iran in the Gulf region. The developments have triggered risk aversion in global markets, prompting investors to move toward safe-haven assets, particularly the US dollar.
Adding to the pressure, Brent crude oil prices remained elevated near $113 per barrel, continuing to weigh on oil-importing economies such as India.
At the interbank foreign exchange market, the rupee opened at 95.30 and slipped further during early deals before settling at 95.43 against the dollar, marking a decline from its previous close.
5, May 2026
Piyush Goyal Reviews FTA Progress, Charts Strategy to Boost India’s Exports
New Delhi, May 5 (BNP): Union Minister of Commerce and Industry Piyush Goyal chaired a high-level review meeting with senior officials to assess the progress of India’s ongoing Free Trade Agreement (FTA) negotiations and to chart a strengthened export strategy.
Held a review meeting with key officers and chief negotiators to assess the progress of India’s Free Trade Agreements.
Discussed ways to encourage more businesses to export from India, further unlocking the country’s potential to export world-class products.
Also, explored… pic.twitter.com/L4WGSaXuOF
— Piyush Goyal (@PiyushGoyal) May 4, 2026
During the meeting, the Minister reviewed the status of key trade discussions aimed at expanding India’s global market access and improving competitiveness for domestic exporters. Officials also presented updates on ongoing engagements with partner countries and outlined steps to accelerate trade facilitation efforts.
The review focused on enhancing India’s export performance through deeper integration into global value chains, diversification of export markets, and strengthening sector-specific competitiveness.
Emphasising the importance of trade expansion, the Minister directed officials to further streamline processes and ensure that ongoing FTA negotiations align with India’s broader economic and strategic priorities.
The meeting also underlined the government’s continued commitment to boosting exports as a key driver of economic growth and job creation.
5, May 2026
Divine Solitaires Launches a Heartfelt Mother’s Day Campaign Celebrating the Woman Behind Every Milestone
Mumbai, May 05: Divine Solitaires has unveiled a heartfelt Mother’s Day campaign that celebrates mothers as the silent yet constant presence behind every milestone in their children’s lives.
Built on the insight that every achievement is equally a mother’s emotional journey, the campaign highlights the often-unseen role mothers play through life’s defining moments. From a child’s first step to moments of failure and eventual success, the narrative captures the emotional parallel between a child’s experiences and a mother’s inner world.
Through a storytelling-led visual approach, the campaign juxtaposes key life milestones with a mother’s perspective, creating a deeply relatable and intimate portrayal of motherhood. Moving away from overt celebration, the brand embraces a subtle, premium narrative that focuses on emotional truth and connection.
At its core, the campaign sheds light on the invisible emotional labor of motherhood—the reassurance in moments of uncertainty, the strength during challenges, the pride in achievements, and the courage to let go as children grow.
Speaking on the initiative, Jignesh Mehta said that while milestones are often seen as personal wins, they are deeply shared experiences, with mothers living each moment just as intensely. The campaign, he noted, is an effort to recognize and celebrate that quiet, unwavering presence.
As part of the campaign, Divine Solitaires is also showcasing its curated Mother’s Day gifting collection, featuring solitaire pendants, diamond studs, and classic rings. Positioned as timeless expressions of love and appreciation, the collection reflects the enduring strength and support that mothers embody.
Each piece is crafted with precision and backed by the brand’s quality assurance, reinforcing its commitment to delivering high-quality natural diamonds. With a presence across 200+ partner jewellers in over 100 cities, Divine Solitaires continues to redefine the solitaire retail experience in India.
Through this campaign, the brand encourages consumers to celebrate not just milestones, but the mothers who make them possible—quietly, consistently, and with unconditional love.
5, May 2026
Auto Demand Cycle Expected to Stay Strong Through CY26, Says Report
New Delhi, May 5 (BNP): India’s automobile sector is expected to maintain its growth momentum over the next two to three quarters, with strong demand likely to persist through calendar year 2026, according to a report by Antique Stock Broking.
The industry has entered FY27 on a positive note, recording healthy volume growth across segments such as passenger vehicles, commercial vehicles, two-wheelers, tractors, and electric vehicles. This broad-based expansion has been supported by improved affordability, upbeat rural demand, and a steady shift toward premium offerings.
The report suggests that favourable market conditions could continue to drive the sector in the near term. However, it also highlights potential risks on the horizon. Rising geopolitical tensions may affect export performance and profitability, particularly in the first half of FY27.
In addition, factors such as higher freight costs, increasing commodity prices, and possible supply chain disruptions could pose challenges, even as the overall outlook for the sector remains strong.
5, May 2026
National Stock Exchange of India Launches Electronic Gold Receipts for Transparent Trading
New Delhi, May 5 (BNP): The National Stock Exchange of India (NSE) has introduced Electronic Gold Receipts (EGRs), marking a significant step toward modernising gold trading in the country. The new segment aims to improve transparency and make price discovery more efficient in one of India’s most widely traded commodities.
Electronic Gold Receipts are digital securities that represent ownership of physical gold. The underlying gold is securely stored in vaults approved by Securities and Exchange Board of India (SEBI) and held in electronic form through depositories, ensuring safety and reliability for investors.
With this initiative, NSE seeks to connect the traditional gold market with the formal financial system. Investors can now trade gold in a regulated environment without the need to handle physical assets, making the process more convenient and accessible.
Market participants believe the introduction of EGRs could encourage broader participation by offering a transparent, secure, and technology-driven platform. The move is also expected to strengthen trust and bring greater efficiency to gold trading in India.
5, May 2026
Markets Slip at Open as Middle East Tensions Push Oil to Dollar 113
New Delhi, May 5 (BNP): Global equity markets opened on a subdued note following renewed geopolitical tensions in the Middle East, which have unsettled investor sentiment worldwide. Concerns over potential disruptions to crude supply routes have led to a sharp increase in oil prices, with benchmarks rising to $113 per barrel.
The surge in oil prices has heightened fears of inflationary pressures and posed fresh challenges to global economic stability. Investors remain cautious as rising energy costs could impact corporate margins and consumer spending in the near term.
Market participants are closely monitoring developments in the region, particularly around key shipping routes, as any escalation may further influence commodity prices and financial markets. Analysts expect volatility to persist as geopolitical risks continue to shape market dynamics.
