Economictimes.indiatimes.com

Tensions have spiked between India and Pakistan following a deadly terrorist attack in Pahalgam, Kashmir, that killed 26 people. As New Delhi blames terrorists for the assault, the two nuclear-armed nations have exchanged small-arms fire along the Line of Control. In response, India has downgraded diplomatic ties, suspended a key water treaty, and revoked Pakistani visas. Pakistan has denied involvement, expelled Indian diplomats, and warned of firm retaliation. The UN has urged both sides to show restraint.

Announced in March, XAI Holdings was created from the combination of X, formerly Twitter, and Musk’s AI venture, xAI. The new funding could be used to pay down some of the debt that Musk took on when he converted Twitter into a private company, later renaming it X, sources said.

Tesla is refunding Model 3 reservation fees in India, signaling a potential shift in its market entry strategy after years of high import duty hurdles. Elon Musk's planned visit to India coincides with trade negotiations that could lower automobile tariffs.

The discussions come as Latin America's largest economy seeks to position itself as a global hub for the fast-growing data center industry, leveraging its ample renewable energy. The project would make Brazil a pillar of the Chinese company's operations in the Western Hemisphere. In February, ByteDance announced plans to invest $8.8 billion in data centers in Thailand over five years.

After the deadly Pahalgam attack that killed 26 people, Iran has stepped forward offering to mediate between India and Pakistan to reduce escalating tensions. Tehran called both nations “brotherly neighbours” and offered its “good offices” to promote peace. India, linking the attack to cross-border terrorism, has suspended diplomatic ties and the Indus Waters Treaty. Pakistan has retaliated with trade and airspace closures. Saudi Arabia and the United Nations have also intervened diplomatically amid fears of further conflict.

Indian banks will be closed on Saturday, April 26, 2025, due to a scheduled holiday, as per the RBI's guidelines. While branches remain inaccessible, digital banking services will continue to operate. Customers are advised to plan transactions accordingly.

Following the terror attack in Pahalgam that killed 26 people, US President Donald Trump called it a “bad one” but downplayed the rising tensions between India and Pakistan. Speaking aboard Air Force One, Trump insisted the two nations would resolve the Kashmir issue themselves. India has taken strong retaliatory measures, including suspending the Indus Waters Treaty and diplomatic downgrades. Pakistan, denying involvement, warned of consequences. Skirmishes have since erupted at the Line of Control, reviving long-standing hostilities.

India has decided to hold the Indus Water Treaty in abeyance, citing Pakistan's sustained cross-border terrorism as the primary reason. A note verbale was served to the Pakistan High Commission, accompanied by a letter emphasizing Pakistan's failure to address concerns and its breach of treaty obligations.

North Korean leader Kim Jong Un attended a ceremony. The event marked the launch of a new multipurpose destroyer. State media KCNA reported the event. The 5,000-tonne destroyer is equipped with powerful weapons. Jo Chun Ryong said it was built in 400 days. The event was held at Nampho dockyard. Kim thanked workers for building the destroyer.

The company won deals worth $390 million in total contract value (TCV) including two large deals in the January-March period of fiscal year 2025, the highest in the last seven quarters. For the fiscal year, new TCV was $1.27 billion and 55% of this was AI-led.

Under the IndiaAI Mission, MeitY assigned AI projects to Yotta, E2E Networks, and NxtGen, offering GPUs at subsidised rates. The companies will supply over 11,600 GPUs collectively. India offers the world’s lowest GPU usage rate, aiming to boost AI capabilities amid global chip shortages and rising demand.

Tensions have escalated along the Line of Control as ceasefire violations and speculative firing from the Pakistani side were observed, prompting a high alert. Army Chief General Upendra Dwivedi visited Jammu and Kashmir to assess troop preparedness and operational plans following a recent terrorist attack. Security measures have been intensified, including strengthening the anti-infiltration grid with additional resources.

A PhD student from UC San Diego declined a NASA internship due to political reasons related to the current administration. Her decision gained widespread attention online, drawing both criticism and support. The internship, considered prestigious, was part of NASA’s Human Health and Performance program, closely linked to future space exploration missions.