Daily Newscap

Daily Newscap’s verified news briefing for September 26, 2026. World: Brazil’s President Lula issued an immediate executive order banning online betting, though Congress must approve it within 120 days for it to remain in force. Source: Reuters World: Hurricane Polo brought strong waves, gusting winds and heavy rain to Mexico’s Colima coast on September 24. Source: Reuters World: A US appeals court ruled that Ohio and Tennessee may regulate Kalshi’s event contracts under state gambling laws. Source: Reuters World: Nepal’s government sought grant-based international assistance for recovery following destructive flooding. Source: DD India India: An NIA court sentenced four PFI members to life imprisonment in a Tamil Nadu murder-conspiracy case. Source: India Today India: Authorities rejected a circulating social-media claim that the RBI was preparing to introduce plastic currency notes. Source: PIB Fact Check India: India won silver in the mixed 4×400-metre relay at the Asi...

India is changing how it measures price movements faced by producers, introducing new Producer Price Indices while modernising the Wholesale Price Index. The reform sounds technical, but it can improve how policymakers and businesses understand inflation. The Wholesale Price Index, or WPI, tracks changes in the prices of a selected basket of goods at the wholesale level. It covers primary articles, fuel and power, and manufactured products. India’s new WPI series uses 2022–23 as its base year. A base year provides the reference point against which later price changes are measured. Updating it helps the index reflect newer products, production patterns and their relative importance within the economy. The expanded series covers 957 items, compared with 697 in the earlier basket. Broader coverage should make the index more representative, although accuracy also depends on reliable price collection, transparent weights and appropriate revision procedures. A Producer Price Index, or PP...

Ukraine’s largest steel plant is stopping production after repeated Russian attacks made continued operation unsafe, while another strike in Kyiv killed seven people and injured dozens. ArcelorMittal said it had informed the Ukrainian government that safe and sustainable production was no longer possible at its Kryvyi Rih facility. The company reported four strikes in five weeks, extensive damage and the deaths of five workers at the plant. The shutdown illustrates how attacks on industrial facilities can affect a country beyond the immediate physical destruction. Steel production supports employment, exports, rail transport, construction and a wide network of suppliers. Before the war, steel represented around 15% of Ukraine’s exports, according to Reuters. The sector has since faced damage to plants and energy supplies, interrupted logistics, reduced access to ports and tighter conditions in important overseas markets. ArcelorMittal also expects to record an impairment charge of ...

Iran says it has presented a diplomatic proposal that could reopen the Strait of Hormuz and pause fighting across the wider Middle East within seven days. As of early September 26, however, there was no publicly confirmed official acceptance from the United States. Iranian Foreign Minister Abbas Araqchi outlined the initiative during the United Nations General Assembly in New York. According to Iran, the proposal was conveyed to the United States through Qatari mediators. The plan would begin a seven-day countdown leading to the reopening of the strategic waterway and a broader pause in regional hostilities. Iran has also indicated that wider negotiations could follow if the United States agrees to the initial arrangement. The Strait of Hormuz is one of the world’s most important energy-shipping routes. It connects the Persian Gulf with the Gulf of Oman and the Arabian Sea. Disruption can affect oil and gas deliveries, shipping insurance, freight costs and energy prices far beyond t...

The Cauvery Water Management Authority has upheld a direction requiring Karnataka to release 4,000 cubic feet per second of Cauvery water to Tamil Nadu for 15 days. The authority confirmed the direction during its 58th meeting in New Delhi. The earlier instruction was issued by the Cauvery Water Regulation Committee, which monitors flows, reservoirs and the implementation of water-sharing arrangements. Tamil Nadu told the meeting that it had received 42.209 thousand million cubic feet, or tmcft, at Biligundlu against a calculated pro-rata entitlement of 57.190 tmcft. According to the state’s submission, the resulting shortfall was 14.981 tmcft. Biligundlu, located on the interstate boundary, is the principal point used to measure Cauvery water entering Tamil Nadu from Karnataka. Tamil Nadu representatives also raised the state’s irrigation requirements and reservoir conditions. The river is particularly important to farmers in the Cauvery delta, where the timing of water availabilit...

India has slightly reduced its planned borrowing for the current financial year, offering some relief to a government bond market that has faced rising yields and cautious investor sentiment. The Union government plans to raise ₹7.86 lakh crore through dated securities between October 2026 and March 2027. Combined with borrowing completed during the first half of the financial year, full-year gross borrowing is expected to be approximately ₹16 lakh crore. That is below the ₹17.20 lakh crore announced in the Union Budget. It is also marginally lower than the revised ₹16.09 lakh crore figure communicated earlier in the year. Government borrowing is necessary because public expenditure frequently exceeds revenue from taxes and other sources. The government meets the difference by selling bonds to banks, insurance companies, mutual funds and other investors. A smaller borrowing requirement can be positive for the bond market because it limits the volume of new securities competing for ...