MUMBAI: India’s forex reserves jumped by $4.4 billion to $693.3 billion during the week ended Dec 19, Reserve Bank said on Friday. The overall kitty had increased by $1.7 billion to $689 billion in the previous week.For the week ended Dec 19, foreign currency assets increased by $1.6 billion to $559 billion, data showed.
Silver price jumped nearly 9% to trade at a record high of $78.65, on Friday (local time) according to the New York Commodity Exchange. With this surge, the white metal has outpaced gold this year, with prices up more than 158% over the past 12 months. The rally extended across the broader metals market. Spot gold climbed to an all-time high of $4,549.71 an ounce, while platinum touched a record $2,454.12 after gaining around 10%, according to Reuters. Spot palladium also recorded the sharpest move of the session, rising more than 14% to $1,924.03 an ounce. Gold, meanwhile, edged up just over 1.2% to reach a high of $4,562.70.
Silver rose on the back of tight supply, rising industrial demand and expectations of more rate cuts by the Federal Reserve. Analysts have also pointed to a mix of lower interest rates, growing use of silver in AI data centres, supply constraints and uncertainty around tariffs as key drivers behind the white metal’s surge this year.“Prospect of lower US interest rates is still supporting demand for gold and silver, lifting both metals to new record highs,” UBS analyst Giovanni Staunovo told Reuters. In early trading, silver crossed the $75-per-ounce level for the first time, as both precious and industrial metals rallied amid economic and political uncertainty.Gold is on course for its strongest annual performance since 1979, supported by Federal Reserve policy easing, geopolitical risks, central bank buying, higher ETF holdings and ongoing de-dollarisation. Silver has benefited from structural supply deficits, its designation as a US critical mineral and strong industrial demand, far outpacing gold’s nearly 72% rise.Platinum and palladium, widely used in automotive catalytic converters, have also advanced sharply amid tight supply conditions, tariff uncertainty and a shift in investment demand away from gold. Platinum has gained about 165% this year, while palladium is up more than 90% year to date.“Momentum-driven and speculative players have been powering the rally in gold and silver since early December, with thin year-end liquidity, expectations of prolonged US rate cuts, a weaker dollar and a flare-up in geopolitical risks combining to push precious metals to fresh record highs,” Kelvin Wong, senior market analyst at OANDA, told Reuters.“Looking ahead into the first half of 2026, gold could move towards the $5,000 level, while silver has the potential to reach around $90,” Wong further said.Traders are currently pricing in two US rate cuts next year, a support that continues to lift non-yielding assets such as gold and silver. At the same time, market sentiment has also been influenced by geopolitical developments, including US moves related to Venezuelan oil and strikes against Islamic State militants in northwest Nigeria following attacks on Christian communities.
Hobart Hurricanes strengthened their BBL|15 title defence with a tense four-wicket victory over Perth Scorchers in Perth on Friday, but celebrations were tempered by a worrying hamstring injury to star finisher Tim David.
The win lifted Hobart to a 3-1 record early in the season and kept them firmly in the playoff mix, yet David’s injury threatens to become a significant subplot as the tournament progresses.
Batting first, the Scorchers struggled to build sustained momentum and finished on 150 for 8. Opener Finn Allen top-scored with a brisk 43, providing early impetus before wickets stalled the innings.
Hobart’s bowling effort was led by leg-spinner Rishad Hossain, who returned impressive figures of 3 for 33, breaking partnerships and preventing the hosts from accelerating at the death. Despite a competitive surface, Perth never fully capitalised, leaving the Hurricanes a chaseable target.
Hobart’s reply began shakily as they slipped to 39 for 3, handing early belief to the Scorchers. The match swung decisively, however, when Tim David joined Nikhil Chaudhary at the crease.
Batting at No.5, David unleashed his trademark power, smashing 42 off 28 balls with three fours and two sixes. Chaudhary played the ideal foil, contributing 34 off 30 as the pair added a crucial 63-run partnership that dragged the Hurricanes back into control.
The turning point came in the 15th over, when Tim David “pinged” his right hamstring while attempting a quick single. He immediately limped and was forced to retire hurt on 42, with Hobart at 103 for 4.
The sight of David hobbling off sent a hush through the Hurricanes camp. Post-match, the finisher described the injury as feeling “a little bit of something,” adding that scans and further assessment would determine the severity. Importantly, there has been no official ruling out of the tournament at this stage.
Despite losing their key finisher, Hobart showed composure in the closing stages. Macalister Wright played a decisive unbeaten knock of 22 off 13 balls, while Chris Jordan chipped in with 15 off 11, steering the Hurricanes to 153 for 6 with three balls to spare.
The calm finish under pressure underlined Hobart’s depth and resilience – qualities that have defined their title defence so far.
Also READ: Sam Harper’s explosive ton powers Melbourne Stars to a dominant win over Sydney Sixers in BBL|15
David’s injury is viewed as a potential major blow to Hobart’s middle-order firepower. With the BBL final scheduled for January 25, the explosive all-rounder has only a short recovery window if the strain proves serious.
The concern extends beyond the Hurricanes. Australian selectors are closely monitoring the situation, with David a key finishing option ahead of the ICC Men’s T20 World Cup 2026, set to be played in India and Sri Lanka in February.
MUMBAI: A Kirtan Samagam was held on Friday to mark Veer Bal Diwas, commemoration of the martyrdom of Sahibzada Baba Zorawar Singh Ji and Sahibzada Baba Fateh Singh Ji, the younger sons of Sikh Guru Sri Guru Gobind Singh Ji.The Samagam was jointly organised by Gurudwara Guru Tegh Bahadur Darbar Raoli Camp Managing Committee, Supreme Council of Navi Mumbai Gurudwaras, Maharashtra Sikh Association, Maharashtra State Punjabi Sahitya Academy, 11 Member Sikh Coordination Committee (Maharashtra), Sewak Jathas, and the Sikh Sangat of Mumbai & MMR Region.Chief Minister Devendra Fadnavis paid obeisance at the Gurudwara Sahib and sought blessings of Sri Guru Granth Sahib Ji. Chairman of the organising committee and Executive Chairman of Maharashtra State Punjabi Sahitya Academy, Bal Malkit Singh, along with members of the Gurudwara Managing Committee, felicitated Fadnavis. Paying rich tribute, Fadnavis said that Veer Bal Diwas is dedicated to the unparalleled martyrdom of Sahibzada Baba Zorawar Singh Ji and Sahibzada Baba Fateh Singh Ji, whose courage, faith and sacrifice continue to inspire generations.Bal Malkit Singh, Executive Chairman, Maharashtra State Punjabi Sahitya Academy, said that Veer Bal Diwas reminds us of the unparalleled courage and supreme sacrifice of Sahibzada Baba Zorawar Singh Ji and Sahibzada Baba Fateh Singh Ji, whose steadfast faith at such a tender age continues to inspire generations. “Their martyrdom, along with the legacy of Hind Di Chadar Sri Guru Tegh Bahadur Ji, teaches humanity the timeless values of truth, justice and fearless commitment to righteousness. It is our collective responsibility to pass these ideals on to our younger generations,” said Singh. Renowned Panthic Raagi Bhai Balpreet Singh Ji (Ludhianawale) mesmerised the Sangat with soulful Gurbani Kirtan, filling the Darbar Sahib with devotion and spiritual fervour.It ended with Guru Ka Langar served to all devotees, reflecting the spirit of Seva and Sarbat da Bhala.
The year 2025, reshaped global commerce in ways not seen for decades, moving into another uncertain phase, as pressures on growth and stability are expected to intensify. So will 2026 be another turbulent patch for global trade?Global merchandise trade managed to stay resilient through 2025, even as US President Donald Trump pushed ahead with higher tariffs that effectively raised barriers around the world’s largest economy. According to data cited by shipping industry veteran John McCown, global container volumes increased 2.1% in October compared with the same month last year, according to Bloomberg.Overall figures, however, revealed sharp regional divergences. While inbound container volumes into the US fell by 8%, imports into Africa, the Middle East, Latin America and India recorded strong growth, pointing to a rebalancing of global trade flows.“World container supply chains have already begun to adapt and reconfigure trading patterns,” McCown wrote in a research note cited by Bloomberg. He compared the current slowdown with last year’s rally, noting that after a 15.2% rise in US container imports in 2024, “to say that the annual total for 2025 will be in diametric contrast is an understatement.”McCown attributed much of this shift to Trump’s trade policies. In a LinkedIn post, he argued that if 2025 marked the peak of tariff announcements, the impact would be felt more fully in the year ahead. He wrote that if 2025 was the year of the tariff, 2026 will be the year of tariff consequences.
Trade analysts said that several fault lines are already visible as 2026 draws closer. One of the most closely watched developments will be the review of the United States–Mexico–Canada Agreement, the North American trade pact that came into force in 2020. The agreement is due for reassessment just six years after implementation, an unusually short timeframe for such a deal.US trade representative Jamieson Greer told lawmakers this month that the process has drawn heavy engagement, with more than 1,500 responses submitted during the public consultation. “Many stakeholders expressed support for the USMCA and many explicitly called for the agreement to be extended,” Greer said, as quoted by Bloomberg. “At the same time, virtually all stakeholders also called for some sort of improvement to the agreement.” Any attempt to revise the deal is expected to be contentious, as gains for one member could come at the expense of another. Industries in both Canada and Mexico are already under pressure from US import duties, while diplomatic relations remain strained. Tensions worsened in October after Trump halted trade talks with Canada in response to anti-tariff advertisements featuring Ronald Reagan.At the same time, global shipping faces the prospect of fresh disruption. Industry experts warn that two developments, both seemingly positive, could strain supply chains.The first is a possible large-scale return of cargo vessels to the Red Sea, after shipping lines were diverted around southern Africa for nearly two years due to Houthi attacks. With hostilities easing since the Gaza peace plan took effect in October, the route has become safer. French carriers CMA CGM SA and Denmark’s A.P. Moller-Maersk A/S have already resumed limited transits through the area.But a full return to the Red Sea and the Suez Canal could overwhelm existing infrastructure. Lars Jensen, chief executive of consultancy Vespucci Maritime, warned during a Flexport webinar in November that it would “flood the market with a lot more capacity” and lead to “massive port congestion issues in Europe.”A second risk could emerge from stronger demand. Jensen said that if the US economy accelerates in 2026 as Trump administration officials predict, driven by lower interest rates and increased investment, a wave of inventory restocking could exceed the shipping sector’s ability.Uncertainty also surrounds the durability of the Trump administration’s recent trade agreements. While the White House has highlighted deals struck with several major economies in 2025, these arrangements lack the enforcement mechanisms typical of traditional trade pacts. Most include only short-term commitments, and the truce with China extends for just one year, leaving unresolved the US’s most imbalanced trading relationship.Concerns that these agreements could unravel have been reinforced by recent events. Indonesia has resisted US trade demands since Washington announced what it called a “landmark trade deal” in July, fearing constraints on its independence, with a revised agreement now expected in late January. China has raised objections with Malaysia and Cambodia over their trade deals with the US, warning against actions that undermine Beijing’s interests. The UK has also encountered fresh complications, Bloomberg reported.Greer said last week that difficult negotiations with the European Union and India are likely to continue into the new year. His office also warned of possible retaliation against the EU, citing what Washington views as excessive regulation of American technology firms.Adding to the uncertainty is a pending US Supreme Court decision on the legality of Trump’s reciprocal tariffs, the sweeping duties imposed on most major trading partners. A ruling against the administration could raise questions over whether importers would be refunded tariffs already paid.Kevin Hassett, director of the National Economic Council, told CBS’s Face the Nation that even in such a scenario, refunds were unlikely. It would be “pretty unlikely that they’re going to call for widespread refunds, because it would be an administrative problem,” he said.Betting markets currently assign roughly a 75% probability to Trump losing the case, a result that could push the administration to rely on alternative legal powers to maintain tariffs.
NEW DELHI: A total of 20 wickets tumbled on the opening day of the fourth Test between Australia and England at the Melbourne Cricket Ground (MCG) on Friday, with Australia bowled out for 152 before dismissing England for just 110.Go Beyond The Boundary with our YouTube channel. SUBSCRIBE NOW!The dramatic collapse on both sides sparked concern within Cricket Australia, with chief executive Todd Greenberg warning that shortened Tests were bad for business, even as several of the biggest names in the game criticised the condition of the MCG pitch.
It was the highest number of wickets to fall on the first day of an Ashes Test since 1909, following the 19 wickets that fell on day one of the series opener in Perth.That match ended inside two days, costing Cricket Australia millions of dollars in lost revenue, and the Melbourne Test is also shaping up as a potential financial blow for the governing body.“I didn’t sleep well last night, put it that way,” Greenberg said on SEN radio after more than 94,000 packed into the MCG for Friday’s first day.“It was an amazing day of Test cricket, so for that record number of people who were here, boy, they’ve had an experience.“But our challenge is to make sure we can continue those experiences day after day. That’s the challenge for all of us.”The Melbourne pitch was prepared with 10 millimetres of grass on the wicket, making it heavily favourable for the bowlers with plenty of movement and bounce under overcast skies. Greenberg said a trend towards shorter Test matches was not in Cricket Australia’s interest.“A simple phrase I’d use is short Tests are bad for business. I can’t be much more blunt than that,” he said.“So I would like to see a slightly broader balance between the bat and the ball.”A host of former greats have been critical of the Melbourne pitch with former England captain Michael Vaughan on Saturday calling it “a joke”.“This is selling the game short,” he added, while another ex-England skipper Alastair Cook branded it “an unfair contest”.Curators in Australia are traditionally independent when it comes to preparing pitches, both from captains and Cricket Australia.Greenberg suggested a more interventionist approach might be needed.“It’s hard not to get more involved when you see the impact on the sport, especially commercially, he said.“I’m not suggesting I’ll go around talking to ground staff, but we do have to have a careful eye on what our expectations are over the course of a summer.”(With inputs from AFP)
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Panaji: Borja Herrera has been forced to part ways with FC Goa and seal a move to Indonesia due to the uncertainty surrounding the top-tier Indian Super League (ISL) this season.The FC Goa midfielder, one of the club’s more influential players for the last three seasons and the only player to win three Super Cups in a row, told his teammates on Friday morning that his time at the club has ended. The club later announced his departure, thanking him for “moments we’ll cherish forever.”“After two and a half seasons, I have to say goodbye, and not in the way I expected,” Borja said in a post on social media. “The situation has become untenable for my family and me. Those in charge have pushed me to make this decision, as after countless meetings, they still haven’t made a real decision.”Borja arrived in India during the Covid-19 pandemic, following in the footsteps of coach Manolo Marquez, who managed him at Las Palmas in LaLiga. From Hyderabad FC, he moved to East Bengal and won the Super Cup. But when things didn’t go as planned, it was his former coach who welcomed him with open arms at Goa.Borja was Manolo’s trusted lieutenant on the field, registering 14 goals and 10 assists for the club. His freekick in the 2024-25 ISL semifinal against Bengaluru FC was voted as the best goal of the season by the club but he will be best remembered for his brace against Jamshedpur FC in last season’s Super Cup final.Borja said he’s leaving with a “heavy heart,” having enjoyed his time at Goa, “through the good times and the bad, like these last few months where I’ve truly seen what it means to have a team that’s like a family, and who, despite the problems, have tried to come to training every day with a smile.”His advice to the All India Football Federation (AIFF) was clear: “Please stop the nonsense and make a decision to save Indian football. This is shameful.”Borja is the second foreign player to mutually part ways with the club this month, following the departure of Spanish striker Javier Siverio to Greece.
The Brisbane Heat return to the Gabba on December 27 for a Saturday night showdown against the Adelaide Strikers. Both teams find themselves in the bottom half of the table early in BBL|15, making this a pivotal “momentum” game. The Heat are coming off a disappointing loss to the Sydney Thunder, while the Strikers are looking to bounce back after being outclassed by the Melbourne Stars.
The biggest subplot of the evening is Chris Lynn‘s return to the Gabba. The former Heat superstar and all-time BBL leading run-scorer now spearheads the Strikers’ top order. The Brisbane faithful will be hoping their new-look attack, led by the fiery Shaheen Afridi, can silence the local legend early.
Brisbane is also dealing with a leadership change; with regular captain Nathan McSweeney sidelined by an ankle injury, Xavier Bartlett continues as stand-in captain. He will be leaning heavily on the experience of Colin Munro and the red-hot form of Matt Renshaw, who has been striking the ball at nearly 200 this season.
Matches played: 21 | Brisbane Heat won: 11 | Adelaide Strikers won: 10 | No result/Tied: 0
The Gabba is traditionally one of the fastest and bounciest surfaces in Australia. Fast bowlers will find plenty of joy early on. The ball carries through to the keeper at a good height, rewarding those who hit the deck hard. While the new ball zips, the Gabba is known for being a high-scoring ground once the initial movement subsides. Spinners generally struggle for wickets here, averaging over 33 compared to the quicks’ 23.
Also WATCH: Tom Curran knocks over Jason Sangha’s stumps with an absolute ripper in BBL|15
Brisbane Heat: Colin Munro, Jack Wildermuth, Matt Renshaw, Hugh Weibgen, Tom Alsop, Max Bryant, Jimmy Peirson (wk), Xavier Bartlett (c), Shaheen Afridi, Liam Haskett, Matthew Kuhnemann, Thomas Balkin, Lachlan Hearne, Ollie Patterson
Adelaide Strikers: Matthew Short (c), Chris Lynn, Jason Sangha, Liam Scott, Jamie Overton, Harry Nielsen (wk), Jerrssis Wadia, Luke Wood, Henry Thornton, Hasan Ali, Lloyd Pope, Mackenzie Harvey, Harry Manenti
Case 1:
Case 2:
Match result: Team bowling first to win the contest
Also READ: Sam Harper’s explosive ton powers Melbourne Stars to a dominant win over Sydney Sixers in BBL|15
