Electricity buyers may see lower costs as the Central Electricity Regulatory Commission (CERC) reviews transaction fees charged by power trading exchanges. The review is taking place alongside the regulator’s push to introduce market coupling, a long-awaited reform aimed at improving efficiency in price discovery, increasing liquidity and bringing uniformity to electricity prices across trading platforms. Over time, the combined effect of these changes is expected to reduce the overall cost of power procurement. Market coupling was approved by CERC in July this year after more than two years of discussions and is proposed to be rolled out in stages, starting with the day-ahead market (DAM) from January 2026. Once implemented, buy and sell bids from all power exchanges will be pooled together to determine a single market-clearing price, replacing the existing system under which prices differ across exchanges. An official said that the regulator has finalised a staff paper titled ‘Review of Transaction Fee charged by the Power Exchanges’ in December 2025. According to the official, who spoke to PTI on the condition of anonymity, CERC is assessing whether the current transaction fee cap of 2 paise per unit is still appropriate at a time when traded volumes have risen sharply and the market is transitioning towards a unified price discovery mechanism. Among the options being discussed is a fixed transaction fee of 1.5 paise per unit for most trading segments. Under the present framework, power exchanges generally charge close to the permitted ceiling. Another proposal under consideration is a lower fee of 1.25 paise per unit for term-ahead market (TAM) contracts, reflecting their longer tenure and comparatively lower operational intensity. India’s exchange-based power market has seen rapid growth over the past decade. Electricity traded through exchanges has increased more than 16 times since 2009-10, with total traded volumes exceeding 120 billion units in 2023-24. While the day-ahead market previously accounted for nearly all exchange-based trading, real-time, intra-day and term-ahead segments now make up an increasing share. Industry experts believe market coupling will help reduce price disparities across exchanges, improve the use of generation capacity and allow buyers to access power at more efficient rates. “Since bids are aggregated across all exchanges, prices are expected to converge and soften to some extent, benefiting distribution companies and large consumers and eventually end-users,” one expert told PTI.At present, Indian Energy Exchange dominates the segment, accounting for nearly 90% of exchange-based power trading volumes, with Power Exchange India Ltd (PXIL) and Hindustan Power Exchange Ltd (HPX) accounting for the rest. Under the approved framework, all three exchanges will act as Market Coupling Operators on a rotational basis, while Grid-India will serve as a backup and audit operator to safeguard system integrity. Officials pointed out that transaction fee structures will gain added significance once exchanges cease competing on price discovery. With transaction fees contributing more than 95% of revenues for established exchanges, any revision is expected to have a meaningful impact on the sector. The official said discussions on transaction fees are still at an early stage, and any changes will be finalised after stakeholder consultations, keeping in mind the broader objective of improving efficiency, transparency and affordability in India’s power markets.

NEW DELHI: Ryan Rickelton produced a breathtaking century for MI Cape Town in the high-scoring SA20 opener against Durban’s Super Giants at Newlands on Friday night, but his efforts went in vain as the hosts went down by 15 runs in a run-fest that saw a combined 449 runs scored.Durban’s Super Giants posted a record 232/5 — the highest total in SA20 history — surpassing the previous best of 204/3 set by Sunrisers Eastern Cape in the Season 2 final at the same venue. The match featured 25 sixes and 40 boundaries, underlining the carnage with the bat.

Chasing the daunting target, Rickelton smashed 113 off 65 balls, an innings studded with 11 sixes and five fours, and came agonisingly close to pulling off a remarkable chase. One of his maximums, struck off the fourth ball of the 13th over, was caught one-handed by a spectator in the stands, earning the fan a reward of Rand 2 million (approximately INR 1.08 crore) under the SA20’s fan-catch initiative.Earlier, DSG’s all-New Zealand opening pair of Devon Conway and Kane Williamson gave the visitors a flying start, racing to 96 in 8.3 overs. Williamson made 40 off 25 balls before being dismissed by Tristan Luus, with MI Cape Town captain Rashid Khan pulling off a sensational running catch at mid-off.Conway carried on to score 64 off 33 balls, while Jos Buttler (20 off 12) and Heinrich Klaasen (22 off 14) maintained the momentum. After Conway fell to Trent Boult, Aiden Markram (35 off 17) and Evan Jones (33 not out off 14) ensured DSG finished strongly.MI Cape Town’s chase revolved around Rickelton, who dominated proceedings despite early setbacks that included the dismissals of Rassie van der Dussen and Reeza Hendricks. Jason Smith injected fresh hope with a blistering 41 off 14 balls, but DSG struck back in the death overs, removing Smith, Nicholas Pooran (15) and Dwaine Pretorius (5).Rickelton survived on 85 when Kwena Maphaka overstepped, allowing him to complete his second T20 hundred. However, needing 22 off the final over, DSG seamer Ethan Bosch (4/46) held his nerve, dismissing Rickelton to seal a thrilling win.

Arrogance is a career killer, according to Cisco’s Sarah Walker, who prioritizes personality and a willingness to learn over experience. She believes humility and continuous development are crucial for advancement at all levels. Walker emphasizes that positive attitude and energy are unteachable qualities, making them invaluable in hiring. Growth potential trumps current skills for success.

A positive attitude might be more valuable than your resume, but there’s one trait that can instantly derail your career prospects at any level: arrogance. Sarah Walker, Cisco’s UK and Ireland managing director who spent 25 years climbing the corporate ladder at BT before joining the tech giant, has identified this as her biggest hiring red flag—and warns that resting on past achievements won’t cut it in today’s workplace.“I can’t stand arrogance. Be confident, but have a level of humility,” Walker told Fortune. While she actively seeks out candidates with positive attitudes, engagement, and energy—qualities she believes can’t be taught—excessive ego remains an instant dealbreaker regardless of experience level.

Why personality beats skills and experience in hiring process

Walker’s hiring philosophy prioritizes personality over pedigree, especially for entry-level positions. “It’s more about the person first and foremost than it is about skills or experience,” she explained. The 45-year-old executive believes that while technical abilities become increasingly important in specialist roles, someone with the right attitude and willingness to learn can still secure a position over more experienced candidates.“You don’t need to be the finished article to be promoted, but we need to know that you are in a position where within a reasonable timeframe, you’ll have invested the time to upskill and develop,” Walker added, emphasizing that growth potential matters more than current capabilities.

Humility and continuous learning essential for career growth

Walker’s anti-arrogance stance applies equally to senior positions. “You can’t rest on your laurels because you’ve done something well in the past, you need to be thinking about what’s the next great thing that you’ll do,” she stressed. “Even at my level, you have to be open to the fact that there’s lots more yet to learn and grow and adapt.”This philosophy aligns with her Cisco predecessor David Meads, who told Fortune that “EQ is at least as important as IQ” when evaluating talent, noting he sees “no difference in terms of the capability” between candidates with or without degrees.

Jake Weatherald is bowled by Ben Stokes during day two of the fourth Test at Melbourne Cricket Ground (Photo by Quinn Rooney/Getty Images)

NEW DELHI: Melbourne Cricket Ground head curator Matt Page admitted he was left in a “state of shock” after witnessing the carnage during the two-day fourth Ashes Test, an outcome that has left Cricket Australia staring at a revenue shortfall running into millions of dollars.Page and his team had left 10 millimetres of grass on the pitch, a decision that resulted in excessive seam movement and bounce, making batting extremely difficult throughout the match.

A total of 36 wickets fell in just 142 overs, including 20 on the opening day, with the contest wrapped up in the evening session of day two as England sealed a four-wicket win — their first Test victory in Australia since January 2011.The premature finish dealt a major blow to Cricket Australia’s finances. More than 90,000 spectators were expected for day three, with significant crowds also anticipated for days four and five. However, ticket sales for those days had to be refunded, compounding the financial impact after the series opener in Perth had also ended within two days.It marked the first time in 129 years that the same Ashes series has featured multiple two-day Tests, a scenario last seen in the era when pitches were left uncovered and exposed to the elements.“I was in a state of shock,” Page said.“I’ve never been involved in a Test match like it and hopefully never involved in a Test match like that again.“We know this hasn’t gone as we planned. We will look at what we need to do to improve.”Page pointed out that last year’s Test at the venue had produced a vastly different contest after the grass on the pitch was trimmed to seven millimetres, resulting in a thrilling match that went down to the final session of day five as Australia defeated India.He added that cool and wet conditions in the lead-up to this year’s Test, combined with forecast heat on days three and four, forced him to adopt a different approach.– Pitch ‘a joke’ –“We’re trying to balance that contest between bat and ball throughout, over the four or five days, to provide that captivating Test for all,” he said.“We left it longer because we knew we were going to get (hot) weather at the back end that we knew we needed our grass (for).”International Cricket Council referee Jeff Crowe is yet to deliver his assessment of the pitch, pondering whether to give it an “unsatisfactory” rating which would see the venue slapped with a demerit point.England captain Ben Stokes and Australia counterpart Steve Smith were both critical of the surface, as were a string of former greats.“Being brutally honest, that’s not really what you want,” Stokes said.“Boxing Day Test match, you don’t want a game finishing in less than two days. Not ideal.”Smith said: “It was tricky. No one could really get in. When you see 36 wickets across two days, that’s probably too much.”Former England captain Michael Vaughan labelled the pitch “a joke”.“This is selling the game short, the players, broadcasters and more importantly the fans,” he said.Despite the controversy, MCG chief executive Stuart Fox backed Page and his ground staff to continue.“We bought Matt on eight years ago because he’s considered one of the best in the country, if not the best,” Fox said. “I still believe that, and I always will. “You can see he’s disappointed. He carries that responsibility and my job as a leader is to support people. “When you believe in your people, you get behind them and support them and I know he’ll respond.”(With AFP inputs)

Indians are making changes to their travel patterns for the New Year, travelling to destinations beyond Thailand and Cambodia to regions like Vietnam, Indonesia, Sri Lanka, Japan and parts of West Asia, travel industry executives said. The transition comes after the two south Asian nations have been at continued border violence. The clashes, which continued for nearly three weeks before a ceasefire came into effect from Saturday, reportedly left more than 100 people dead. The developments have dented demand for Thailand, a long-standing favourite for Indian festive travel, and Cambodia, which has increasingly featured as a cultural extension to Southeast Asian itineraries. According to Ravi Gosain, president of the Indian Association of Tour Operators, the impact on Thailand has been visible but contained. “For Thailand, enquiries have softened by around 10-20%, with fresh bookings down in the range of 8–15%,” he told ET. While some travellers have postponed or altered plans, outright cancellations have remained limited at 3–8%, as many opted to reroute trips within the country. Cambodia has faced a stronger reaction. Gosain said enquiries are down 20–35% year-on-year, with cancellations in the range of 8–18%. He added that Indian travellers began revisiting their travel plans within 48–72 hours of the clashes breaking out, followed by another round of adjustments closer to departure dates. Different traveller segments have responded differently to the situation. Families, first-time international travellers and high-spending leisure customers have been more cautious, Gosain said, while younger group travellers and honeymooners have shown greater flexibility. “Safety perception, visa ease, flight availability and overall value are the key decision drivers,” he said. Despite the softer demand, spending levels for Thailand during the year-end period remain unchanged, with mid-market travellers typically spending Rs 1.1–1.8 lakh per person and premium travellers spending between Rs 2.5 lakh and Rs 4 lakh, ET reported. Rajiv Mehra, general secretary of the Federation of Associations in Indian Tourism and Hospitality, said Thailand has lost some momentum. “The aggressive demand witnessed earlier is missing now—about 5-10% lower demand,” he said. Cambodia, too, has seen reduced traction, though Mehra described it as more of a spiritual destination than a leisure-oriented one. At the same time, he noted that Vietnam, Sri Lanka and Malaysia are attracting interest with competitive pricing. Travel companies say the situation has led more to recalibration than disruption. Jatinder Paul Singh, chief executive and co-founder of Viacation, said booking behaviour reflects caution rather than withdrawal. “Enquiries have remained largely steady, with some travellers taking extra time to decide,” he said, adding that cancellations have been limited, with most customers preferring date changes or alternate destinations. Rising airfares are also shaping travel choices. Hari Ganapathy, co-founder of Pickyourtrail, said airline capacity constraints have pushed flight costs higher, leading travellers to focus more on affordability. “Flights remain the most variable cost, while on-ground pricing has moved only 5–7%,” he said. This has resulted in higher demand for short-haul destinations offering visa-on-arrival and shorter travel times, such as Malaysia, Singapore and Sri Lanka. Ganapathy also pointed to longer-term changes in travel behaviour. Paid activities per itinerary have increased by nearly 30% over the past two years, with a further 13% rise this year. He said around 65–70% of itineraries now include at least one customised experience, indicating a shift away from nightlife-centric holidays towards more personalised travel. Booking data from EaseMyTrip highlights this transition. A company spokesperson told ET that Vietnam has emerged as a major beneficiary, with Indian traveller traffic estimated to rise by about 125% in 2025. Sri Lanka, meanwhile, has seen at least a fivefold increase compared with last winter. “The focus has shifted from promoting large-scale, nightlife-led New Year celebrations to curating experience-driven and restorative travel options that better align with evolving traveller preferences,” the spokesperson said. “To retain interest and drive conversions, travel companies are also curating end-to-end experiences, such as bundling stays with activities like culinary workshops, local village dinners, heritage walks, farm tours, and personalised wellness programmes.” Within India, destinations such as Goa, Kerala and the Andaman Islands continue to draw festive-season demand, offering alternatives for travellers opting to stay closer to home amid changing overseas plans.

NEW DELHI: Amid the ongoing Chillai Kalan — the 40-day bone-chilling winter period — in Jammu and Kashmir, the Army has intensified its counter-terrorism operations across the Kishtwar and Doda districts.Army units have expanded their operational reach into higher and snowbound areas to pursue and neutralise Pakistani terrorists attempting to exploit the harsh season for concealment, news agency ANI reported, citing sources.

According to sources, various intelligence agencies asses that there are approximately 30 to 35 Pakistani terrorists currently in the Jammu region. Inputs gathered over the past few months suggest that these groups, finding themselves cornered by successful counter-terror operations, have shifted deeper into higher and middle mountain reaches of the region — areas now devoid of habitation. These terrorists are believed to be seeking temporary winter hideouts to evade detection and avoid direct confrontation with security troops, they added.The sources said that the Army and security forces have adopted a proactive winter posture, establishing temporary bases and surveillance posts deep within snow-covered areas to maintain continuous pressure on potential terrorist hideouts.This year’s counter-terror strategy has been the integrated approach to operations. The Indian Army is leading a synchronised effort involving multiple security and law enforcement agencies, including the civil administration, the Jammu and Kashmir Police (JKP), the Central Reserve Police Force (CRPF), the Special Operations Group (SOG), Forest Guards, and Village Defence Guards (VDGs). This inter-agency cooperation ensures seamless intelligence sharing, resource optimisation, and sharper operational execution, sources said.ANI reported that intelligence from multiple agencies is carefully synthesised to draw precise situational pictures of terrorist movement and hideout patterns. Once intelligence is verified, coordinated joint operations are planned and launched, minimising overlaps and ensuring maximum impact with tactical precision. The synergy among ground units and intelligence frameworks has enhanced response time, enabling security forces to act the moment actionable information surfaces.According to the report, the terrorists, who are hiding in this region, are attempting to coerce or threaten local villagers for shelter and food supplies, though their support among locals and overground workers has sharply declined.Sources emphasised that this season’s winter operations are guided by a clear doctrinal approach: Surveillance to Swift Operations and then Back to Surveillance. The philosophy emphasises an unbroken cycle of monitoring, quick response, and sustained watchfulness, minimising the chances of terrorists regrouping. This methodical rhythm allows forces to keep pressure constant while conserving resources and adapting to environmental challenges, they added.This comes with the onset of Chillai Kalan, the harshest phase of Kashmir’s winter, spanning from December 21 to January 31. During this period, most activity in the mountains comes to a standstill.Meanwhile, the Indian Army has also deployed specially trained winter warfare sub-units across several key sectors. These troops, adept in high-altitude survival, snow navigation, avalanche response, and snow combat, have been instrumental in maintaining operational effectiveness during the winter surge.

Chile’s state-owned Codelco, the world’s leading copper producer, and private miner SQM, which features Chinese capital, announced Saturday the creation of a giant company to exploit lithium, a lightweight metal used in batteries for electric vehicles.The South American country is the world’s second-largest producer of lithium, a key component of EVs and other clean technologies, and has about 40 percent of the world’s lithium reserves.The partnership between the firms will allow them to jointly ramp up the exploitation of lithium in the Atacama salt flat region of northern Chile. The public-private partnership will be called Nova Andino Litio SpA, said Codelco, which described the deal as “one of the most significant in the history of Chilean business.”The Chinese firm Tianqi holds a 22 percent stake in SQM.The new company “will carry out lithium exploration, extraction, production, and commercialization activities in the Atacama salt flat until 2060,” Codelco said in a statement. Chilean regulators authorized the alliance earlier in December.The agreement was approved by more than 20 national and international regulatory bodies, including in China, Brazil, Saudi Arabia, and the European Union. Chile was the last of the countries to clear the deal. Last month, China gave the green light to the planned partnership between Codelco and SQM.The partnership aims to restore Chile’s leadership in lithium production, a title it lost to Australia nearly a decade ago. The new company aims to increase production by about 300,000 tons per year in the Atacama salt flat. In 2022, Chile produced 243,100 tons of the so-called white gold. “This joint venture makes it possible to plan the development of the Atacama salt flat,” and for the benefit of global markets, said Ricardo Ramos, CEO of SQM, one of the world’s leading lithium producers. The partnership is part of the National Lithium Strategy announced by the leftist government of Gabriel Boric in 2023, aimed at reclaiming Chile’s global leadership in lithium production.According to Codelco, with this agreement the Chilean state will receive around 70 percent of the operating margin generated by the new production between 2025 and 2030, and starting in 2031, 85 percent of that margin. Lithium accounted for three percent of Chile’s exports in 2024.

NEW DELHI: Delhi Environment Minister Manjinder Singh Sirsa announced on Saturday that two key restrictions under the Graded Response Action Plan (GRAP-4) will now be permanent, in a bid to tackle the city’s persistent severe air pollution. Speaking to the media, Sirsa said vehicles will not be provided petrol without a valid Pollution Under Control Certificate (PUCC) until further notice, according to news agency ANI.

“Out of the restrictions under GRAP-4, we have decided to make two permanent. First, the PUCC requirement: you will not get petrol anywhere without a PUCC certificate until the next orders,” he stated. The minister also confirmed that vehicles entering Delhi from outside the city that do not meet Bharat Stage VI (BS6) emission standards will face restrictions. “Vehicles from outside Delhi that are below BS6 will also be restricted from entering the city,” he added. Sirsa noted that authorities are closely monitoring the weather, as the Western Disturbance may lead to adverse conditions. “The possibility of bad weather is being indicated. Therefore, we are continuously monitoring the situation,” he said, emphasizing that the government’s priority is to minimize pollution-related hardships for Delhi residents. Delhi’s air quality has deteriorated, with the Air Quality Index (AQI) reaching 390 at 6 pm on Saturday, placing it in the ‘Very Poor’ category, according to the Central Pollution Control Board (CPCB). Experts advise vulnerable groups, including children, the elderly, and those with respiratory conditions, to limit outdoor exposure and use protective masks. Thick smog and fog are trapping pollutants, reducing visibility, and disrupting daily life. Authorities are enforcing measures such as the ‘No PUC, No Fuel’ rule and Stage III restrictions under GRAP, including limits on construction and industrial activities. Earlier, the Delhi Cabinet, led by chief minister Rekha Gupta, approved measures to strengthen environmental governance in the capital. A key decision includes allocating Rs. 100 crore for the rejuvenation of water bodies across the city. Delhi has around 1,000 water bodies, 160 of which fall under the government’s jurisdiction. Sirsa said, “The rejuvenation of Delhi’s water bodies will play a crucial role in pollution control. The chief minister has directed that full financial support be provided to complete this work within the year.” The Cabinet also approved the establishment of Delhi’s first E-Waste Park at Holambi Kalan, spanning 11.5 acres. The facility will follow strict pollution-control standards and operate on a 100 per cent circular, zero-waste model. Sirsa explained, “This will be India’s first state-of-the-art e-waste facility built on zero pollution and zero wastage principles. The plant will fully recycle and reuse water through an advanced recirculation system.”