Karnataka Chief Minister Siddaramaiah on Friday announced sweeping reforms in the state's liquor taxation and regulatory framework, including the introduction of a new alcohol-based duty structure, deregulation of price fixation and technology-driven monitoring systems.

He set an ambitious revenue target of ₹45,000 crore from the excise sector for 2026-27.

The Indian government’s delays in formalizing changes to listing rules are threatening to force Asia’s richest person, Mukesh Ambani, to miss the targeted timeline for an initial public offering of shares in Jio Platforms Ltd., the digital arm of his flagship company Reliance Industries Ltd.

Andhra Pradesh Chief Minister N Chandrababu Naidu on Friday said social media will be prohibited for children below 13 years of age within the next 90 days.

Addressing the Assembly, the Chief Minister said they are actively debating whether to extend this ban to children between 13 and 16 years of age.

The US has cleared the way for India to temporarily increase its purchases of Russian oil, reversing months of pressure on the world’s third-largest crude importer as an escalating conflict in the Persian Gulf upends energy flows.

The US won’t give India the same kind of economic advantages it gave China, which allowed that country to emerge as a major competitor, Deputy Secretary of State Christopher Landau said on Thursday, signaling Washington’s cautiousness in negotiations over a trade deal.

A temporary surge in oil prices to $100 per barrel could slow global growth by 0.4 percentage point, Goldman Sachs analysts said on Thursday, as a widening conflict in Iran chokes off vital Middle East oil and gas flows.

Under its baseline forecast, Goldman expects oil prices to increase a bit further before moderating to $76 per barrel on average in the first quarter of 2026 and $65 in the fourth quarter.

Russia on Thursday accused the United States and Israel of trying to drag Arab countries into a wider Middle East conflict by provoking Iran into striking targets across the region and said there was no sign Washington and Tel Aviv would let up.

Arab states in the Gulf, all close US allies - some of which also have close ties with Russia - have come under Iranian drone and missile attacks since the United States and Israel launched their air strikes on Iran on Saturday.

India's Adani Total Gas (ATGL) has sharply raised ​prices for supplies to industrial clients, citing lower availability of gas due to ‌conflict in the Middle East, according to a customer notice seen by Reuters.

The company is a joint venture of Adani Group and French oil major TotalEnergies SE.

SpiceJet will operate 13 special flights from the UAE on Thursday to facilitate the return of passengers stranded due to the Middle East conflict.

"Of the 13 flights, 12 will operate from Fujairah and 1 will operate from Dubai. The airline will operate seven special flights to Mumbai, five special flights to Delhi and one special flight from Dubai to Mumbai," it said in a statement on Thursday.

The ongoing war with Iran could cost Israel an estimated NIS 9.4 billion ($3 billion approximately) per week under current restrictions on economic activities, the Israeli Finance Ministry has warned.

"In a letter sent to the Home Front Command chief, Maj. Gen. Shai Klapper, Finance Ministry Director General Ilan Rom asked to ease restrictions to allow for a gradual, partial reopening of businesses and workplaces as early as Thursday," the Times of Israel reported.

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