The rupee recovered 15 paise on Thursday, strengthening to 91.50 against the US dollar in early trade, rebounding from its all-time low levels touched in the previous session. The recovery was supported by improved risk appetite after US President Donald Trump said he had no intention of imposing tariffs on Europe over Greenland, easing geopolitical concerns. On Wednesday, the rupee plunged 68 paise to close at an all-time low of 91.65, reflecting heightened global uncertainty and strong dollar demand. Forex traders said investor sentiment improved after Trump announced at the World Economic Forum in Davos that he was scrapping planned tariffs on eight European nations and indicated that a framework had been reached on Greenland. At the interbank foreign exchange, the rupee opened at 91.54 before gaining further ground to trade at 91.50, marking a 15-paise rise from its previous close. Forex traders, however, cautioned that the currency remains under pressure amid ongoing global geopolitical uncertainties, despite the near-term relief. The pending trade agreement with the United States continues to be seen as a key stabilising factor, with traders noting that the rupee may remain vulnerable to external shocks until geopolitical risks ease and the deal materialises. According to Anil Kumar Bhansali, head of treasury and executive director at Finrex Treasury Advisors LLP, the rebound was aided by gains in Asian equities and Trump’s relatively conciliatory tone towards Europe in his Davos speech, reported news agency PTI. Meanwhile, the dollar index, which measures the greenback’s strength against a basket of six currencies, rose 0.02 per cent to 98.78. Brent crude, the global oil benchmark, traded 0.17 per cent higher at USD 65.35 per barrel in futures trade. On the domestic equity market front, the Sensex jumped 533.37 points to 82,443, while the Nifty advanced 157.20 points to 25,314.70 in early trade, lending further support to the rupee. Foreign institutional investors sold equities worth Rs 1,787.66 crore on Wednesday, according to exchange data.

The International Cricket Council (ICC) on Wednesday turned down the Bangladesh Cricket Board’s (BCB) request to move Bangladesh’s T20 World Cup matches from India to Sri Lanka, stating that the fixtures will go ahead as scheduled as there is no credible threat to the safety of Bangladesh players, officials or fans at any venue in India.The decision was taken during an ICC Board meeting held via video conference, which was called after the BCB raised concerns and formally sought a venue change for its matches.

What ICC said

“The ICC Board noted that relocating matches under the present circumstances could jeopardise the sanctity of ICC events and undermine the organisation’s neutrality as a global governing body,” the ICC said in a statement.The ICC said the Board examined several security assessments, including independent evaluations, all of which concluded that there was no credible threat to Bangladesh players.14 of the 16 Board members voted against the BCB’s request to relocate the matches, news agency PTI reported, quoting sources. The ICC has given the BCB one more day to review its position and communicate a final decision.“Of all the members, only BCB and Pakistan voted in favour of the relocation request while all other voted against it. Bangladesh was given time till January 21 to confirm its participation but they have been given one more day by the ICC Board to state their position,” an ICC source was quoted as saying by news agency PTI.The ICC also said that changing the schedule at this stage was not possible and that altering fixtures without a verified security risk could set what it called an “undesirable precedent” for future global tournaments.“In the absence of any independent security findings that materially compromise the safety of the Bangladesh team, the ICC is unable to relocate fixtures. Doing so would carry significant logistical and scheduling consequences for other teams and fans worldwide, and would also create far-reaching precedent-related challenges that risk undermining the neutrality, fairness, and integrity of ICC governance,” ICC spokesperson said in a statement.According to the ICC, its management has held multiple meetings and exchanged correspondence with the BCB over recent weeks, sharing detailed information on security arrangements for the tournament.These discussions included venue-specific security plans and assurances of protection involving both federal and state law enforcement agencies.An ICC spokesperson said the governing body had been engaged in “sustained and constructive dialogue” with the BCB to ensure Bangladesh’s participation in the event.“Independent security assessments, comprehensive venue-level security plans and formal assurances from host authorities consistently concluded that there is no credible or verifiable threat to the safety or security of the Bangladesh team in India,” the spokesperson said.The ICC, however, said it was concerned that the BCB continued to link its participation to what it described as a “single, isolated and unrelated development” involving one of its players’ involvement in a domestic league, which the ICC said had no connection to the tournament’s security framework.The Board reiterated that decisions related to venues and scheduling are based on threat assessments, host assurances and agreed participation terms, which apply equally to all 20 teams in the tournament.“In the absence of any independent security findings that materially compromise safety, the ICC is unable to relocate fixtures. Doing so would carry significant logistical and scheduling consequences for other teams and fans worldwide, and would also create far-reaching precedent-related challenges that risk undermining the neutrality, fairness, and integrity of ICC governance,” the spokesperson said.On Tuesday, Bangladesh government’s sports adviser Asif Nazrul reiterated that the national team would not travel to India under any circumstances.If Bangladesh decides to withdraw from the tournament, Scotland is likely to replace them based on current rankings.The dispute began after Bangladesh fast bowler Mustafizur Rahman was removed from Kolkata Knight Riders’ squad for the upcoming Indian Premier League following instructions from the BCCI, citing unspecified “developments all around”.Citing “security concerns”, the BCB then announced that the Bangladesh team would not travel to India for its group-stage matches in Kolkata and Mumbai.The BCB has sought to play all four of its group matches in Sri Lanka, where the India–Pakistan match will also be held under an agreed ICC arrangement in place until 2027.Bangladesh are placed in Group C alongside West Indies, Italy, England and Nepal.During its last meeting with ICC officials in Dhaka, the BCB proposed swapping places with Ireland in Group B, which includes co-hosts Sri Lanka, Australia, Oman and Zimbabwe.Such a change would allow Bangladesh to remain based in Sri Lanka for all its group-stage matches.Relations between India and Bangladesh have worsened in recent months, with tensions rising following the killings of Hindus in Bangladesh.Former Bangladesh captain Tamim Iqbal and current Test captain Najmul Hossain Shanto have both urged caution on the issue. Tamim has said that decisions taken now could have consequences a decade later

NEW DELHI: In a decision that could have long-term consequences for cricket in Asia and beyond, the ICC on Wednesday rejected Bangladesh Cricket Board’s (BCB) request to shift their T20 World Cup matches from India and has voted to replace Bangladesh at the Men’s T20 World Cup if the team refuses to travel to India for its scheduled matches, according to a report by ESPNCricinfo. The ICC has asked the Bangladesh Cricket Board (BCB) to convey to the Bangladesh government that failure to travel to India for the 2026 T20 World Cup will result in Bangladesh being replaced at the tournament. The position was formalised after a vote at the ICC Board meeting, where a majority backed the option of bringing in a replacement team. The BCB has been given one more day to inform the ICC of its final stance on playing matches in India. If Bangladesh doesn’t change its stance, Scotland are expected to replace them in Group C. Scotland did not qualify for the 2026 T20 World Cup through the European Qualifiers, finishing behind the Netherlands, Italy and Jersey, but are next in line based on rankings.The decision follows weeks of discussions between the ICC and the BCB that failed to resolve a standoff triggered by the removal of Bangladesh pacer Mustafizur Rahman from the 2026 Indian Premier League on BCCI instructions citing unspecified “developments all around”. The standoff began after Bangladesh pacer Mustafizur Rahman was removed from the 2026 Indian Premier League following instructions from the BCCI, citing unspecified “developments all around”. In response, Bangladesh banned the broadcast of the IPL in the country and informed the ICC that it would not send its team to India for the World Cup. The BCB has cited “security concerns” and refused to play its group matches scheduled in Kolkata and Mumbai. It has instead pushed for its games to be moved to co-host Sri Lanka or for a group reshuffle that would allow the team to be based entirely outside India. With the tournament schedule already finalised, the ICC has been reluctant to alter venues. Sri Lanka is set to host select matches, including the India–Pakistan fixture, under an existing ICC arrangement in place until 2027. Despite multiple rounds of discussions between the ICC and the BCB, no agreement has been reached so far, prompting the ICC Board to move towards a replacement plan.

As global leaders, CEOs and financiers gather once again in the Swiss Alps for the annual World Economic Forum, the meeting faces a familiar challenge — how to reconcile its lofty ambitions with its elite optics. But this year, Davos is also confronting two overlapping pressures that threaten to upend the global order, and while US President Donald Trump’s return to centre stage dominates attention, many participants privately acknowledge that the deeper challenge lies elsewhere.Trump, who is set to address the forum today, looms over the summit amid renewed concerns about trade protectionism and geopolitical volatility and his aggressive assertion over wresting control of Greenland. Yet alongside the political uncertainty sits a more structural force reshaping economies worldwide: the K-shaped economy, a widening divide between those who emerged wealthier from the pandemic and those left behind.The term, popularised by economist Peter Atwater, describes a recovery that split along two diverging paths after 2020. While the pandemic initially struck broadly, the rebound did not. Asset owners and higher-income groups saw gains, while lower-income households struggled with inflation, stagnant wages and rising costs.Nearly six years on, the gap has continued to widen. Equity markets remain near record highs despite bouts of volatility. Luxury travel and high-end consumption remain resilient, even as affordability pressures curb discretionary spending for many households. What appears to be a housing crisis for one segment of society has translated into rising home values and balance-sheet gains for another.This divergence has sharpened criticism of Davos itself – long caricatured as a gathering of the global elite arriving by private jet to discuss poverty, inequality and climate change. The disconnect, critics argue, has become more pronounced in the wake of the pandemic and the political backlash that followed, including Trump’s re-election.“Those at the bottom are all too aware of the abundance that exists above them,” Atwater, an adjunct economics professor at William & Mary, told CNN. “But I think that one of the consequences of Covid was that it created blindness at the top… other than a delivery person showing up at the door, the interaction of those at the top and those at the bottom has really diminished, if not evaporated.” Forum organisers and participants are not unaware of the perception problem. Larry Fink, CEO of BlackRock and often described as Davos’ informal convenor, acknowledged the tension in his opening remarks.“Many of the people most affected by what we talk about here will never come to this conference,” Fink said. “That’s the central tension of this forum. Davos is an elite gathering trying to shape a world that belongs to everyone.” Still, critics argue that recognition has not always translated into foresight. Senior business journalist Liz Hoffman wrote this week that Davos has repeatedly misread political and social undercurrents, noting its failure to anticipate Brexit, the rise of MAGA politics, and the populist wave that reshaped Western democracies. She also pointed to moments such as the 2020 gathering, when delegates mingled as Covid-19 spread nearby, and the forum’s brief enthusiasm for the metaverse.The political consequences of economic divergence are no longer confined to any particular country rather, expanding world over. Severe inequality has proven destabilising across regions, with recent unrest in Iran cited by analysts as an example of how prolonged inflation, currency collapse and perceived elite enrichment can ignite social unrest. Against that backdrop, Trump’s presence at Davos – disruptive though it may be – is arguably the more manageable of the forum’s challenges. Trade disputes can be negotiated, alliances recalibrated. The structural divide represented by the K-shaped economy is far harder to resolve and far less forgiving.“You can’t sustain this level of overt wealth without there being consequences,” Atwater warned. “What I think those at the top miss is that any added weight of vulnerability could easily be the tipping point… We are a straw away from something being unleashed.”For a forum that prides itself on anticipating the future, the question hanging over Davos this year is whether it can move beyond acknowledging inequality to addressing it meaningfully – before political and social forces outside the conference halls do it instead. (With inputs from CNN)

Bangladesh are scheduled to play three matches in Kolkata and one in Mumbai.

NEW DELHI: The Pakistan Cricket Board (PCB), on Tuesday, has formally written to the International Cricket Council (ICC) expressing its support for Bangladesh’s refusal to play matches in India at the 2026 Men’s T20 World Cup. The development comes a day before the ICC Board is set to meet on Wednesday to take a final call on Bangladesh’s participation in the tournament.Go Beyond The Boundary with our YouTube channel. SUBSCRIBE NOW!According to an ESPNcricinfo report, the PCB’s communication to the ICC also copied members of the ICC Board, underlining Pakistan’s alignment with the Bangladesh Cricket Board’s (BCB) stance amid what it termed political and security concerns in the region. Bangladesh, backed by its government, has asked for its group-stage matches to be shifted to Sri Lanka, co-hosts of the tournament.

The report further indicated that the governing body has so far remained firm on its position. The ICC has repeatedly conveyed to the BCB that the tournament schedule will not be altered and that Bangladesh are expected to play their matches in India as originally planned.Despite multiple rounds of discussions between the ICC and BCB, neither side has softened its stance. While the ICC has insisted that logistical and security assessments do not warrant a venue change, the BCB has maintained that it cannot send the team to India under the current circumstances. January 21 had been set as the deadline for a final decision, with the tournament scheduled to start on February 7.

The PCB’s late intervention follows days of speculation about its role in resolving the impasse. Unverified reports suggested that Pakistan had offered to host Bangladesh’s matches, while others claimed the PCB was even reassessing Pakistan’s own participation depending on how the situation unfolded. The standoff traces back to the BCCI’s decision to ask IPL franchise Kolkata Knight Riders to remove Bangladesh pacer Mustafizur Rahman from their IPL 2026 squad — a move that was never fully explained but widely linked to deteriorating political ties. That episode prompted the Bangladesh government to formally state that the national team would not travel to India for the World Cup.The fallout has since escalated, triggering unrest within Bangladesh cricket, including a brief player boycott during the BPL after controversial remarks by a senior BCB official.

Wall street took a sharp hit on Tuesday, plunging to their steepest single-day losses in three months, as investors reacted to US President Donald Trump’s fresh tariff threats targeting Europe. The move sparked a widespread risk-off selloff across asset classes, triggering concerns about another round of market volatility. All three major US indices posted their worst daily performance since October 10, last year. While the S&P 500 dropped 143.15 points, or 2.06%, to close at 6,796.86, Nasdaq Composite tumbled 561.07 points, or 2.39%, to 22,954.32. The Dow Jones Industrial Average fell 870.74 points, or 1.76%, settling at 48,488.59. Both the S&P 500 and the Nasdaq ended the session below their 50-day moving averages, Reuters reported. The impact was not limited to just equities. In other asset classes, gold climbed to fresh record highs as investors rushed towards safer assets, while US Treasuries came under renewed selling pressure, pushing borrowing costs higher. Bitcoin, which usually benefits during periods of market stress, declined more than 3%. Tuesday marked the first chance for US investors to react to Trump’s weekend remarks, as markets were closed on Monday for Martin Luther King, Jr Day. Trump said that additional 10% import tariffs would be imposed from February 1 on goods from Denmark, Norway, Sweden, France, Germany, the Netherlands, Finland and Great Britain, all countries already facing US tariffs. He further added that the levies would rise to 25% from June 1 and remain in place until the US reached a deal to purchase Greenland. Meanwhile, leaders in Greenland, an autonomous territory of Denmark, and Denmark have maintained that the island is not for sale. The return of tariff-related uncertainty was similar to market disruptions seen earlier in April, during what was referred to as “Liberation Day”, when Trump’s trade measures against global partners pushed the S&P 500 close to bear market territory.The CBOE Volatility Index, a measure that indicates market fear, jumped to 20.09 points, its highest closing level since November 24. Trading activity also accelerated, with almost 20.6 billion shares changing hands on US exchanges, well above the 20-day average of 17.01 billion.In India, the NSE and BSE benchmarks also ended the day in red, falling over 1% each, erroding investors of almost Rs 9.86 lakh crore. While Nifty50 slid 1.38% to close at 25,232.5, Sensex fell 1,065.71 points, or 1.28%, to settle at 82,180.47.Elsewhere, on Wednesday, Asian stocks also showed losses for a third session, amid ongoing geopolitical tensions.

Short-term jitters or a longer mood swing?

While investor sentiment was clearly strained, questions remain over whether the sharp reaction is a short-lived response or signals deeper market implications. Jamie Cox, managing partner at Harris Financial Group, said he was not seeing evidence of investors exiting the market. “I’m not at the point yet where I’m willing to say what is happening with Greenland, and the resurgence of the tariff threat back and forth, is going to precipitate a correction in the equities markets,” he told Reuters. The expert further added that he would be surprised if markets fell by 3% to 5% this week. Cox pointed instead to developments in bond markets as a potentially more significant risk. Japanese government bonds fell sharply on Tuesday, sending yields to record highs, while Tokyo stocks and the yen weakened after Prime Minister Sanae Takaichi called for a snap election, raising concerns over Japan’s fiscal health. The moves contributed to higher yields on longer-dated European government bonds, while selling pressure in US Treasuries was more pronounced at the long end of the curve. Despite the renewed tariff threats and volatility across bond markets, the US economy continues to show strength. Investors are set to receive a series of economic indicators this week, including an update to third-quarter GDP, January PMI data and the Personal Consumption Expenditures report, the Federal Reserve’s preferred inflation measure. The earnings season is also gathering momentum, with several major companies due to report results. Netflix was among those in focus, ending the session 0.8% lower ahead of its quarterly earnings announcement after market close.

MUMBAI: A sessions court Monday issued a stern warning to nine students of Tata Institute of Social Sciences (TISS) seeking anticipatory bail, observing their involvement in a criminal case could permanently damage their professional future.The students are under investigation for organising an unauthorised event on the TISS campus at Deonar to commemorate the first death anniversary of Delhi University professor GN Saibaba, who was jailed for alleged links to Maoists. The judge extended their interim protection from arrest until Feb 5, when arguments on the pleas are likely to be presented.

The 9 Are Facing Probe For Organising An Unauthorised Function

The judge questioned the students, who are pursuing Master’s in Social Work, about their backgrounds and the impact of the legal proceedings on their lives. “How many of you are from outside Maharashtra? You came to study in Maharashtra for all this? Your fathers know about the case? How many of your fathers are in govt jobs? You will not get govt jobs because of the case,” the judge said.The court cited the long-term consequences of a criminal record, noting that the implications extended beyond the public sector. Even in private employment, candidates are required to disclose pending criminal matters, the judge said. “You have a criminal record now, your record is with the police not just here but everywhere in the country. You know that you have made a blunder so early, before your career starts, your career is ruined,” the judge said.When the students’ lawyer brought up their academic programme, the judge expre-ssed scepticism regarding th-eir employment prospects. “You think you are scientists or engineers? Even engineers don’t have jobs,” the judge said, adding their degrees would not help them secure jobs under the circumstances.On Oct 12, 2024, Saibaba died due to health complications following acquittal in a UAPA case. He’d spent nearly a decade in Nagpur central jail.The event to commemorate the academic’s first death anniversary took place on Oct 14 last year. The TISS administration lodged a complaint with Trombay police alleging that the students had held an unlawful assembly and raised slogans in support of jailed activists Sharjeel Imam and Umar Khalid. Mumbai Crime Branch, which took over the probe, recently added charges of criminal conspiracy, saying the event was organised at the behest of outside parties.Offences filed under BNS related to unlawful assembly, rioting, promoting enmity between different groups, imputations or assertions prejudicial to national integration and disobedience to an order duly promulgated by a public servant. The students were also booked for offences under Maharashtra Police Act.

Vande Bharat sleeper, Indian Railways’ new train for overnight premium travel, has received overwhelming passenger response, according to the Ministry of Railways. The first commercial run of Vande Bharat Sleeper train between Kamakhya and Howrah saw all tickets selling out within hours of bookings opening, Indian Railways said.According to railway officials, reservations for the Vande Bharat Sleeper (Train No. 27576) were fully booked across all classes within 24 hours after ticket sales opened on January 19 through the Passenger Reservation System and online platforms. The train will begin its maiden commercial journey from Kamakhya on January 22 and from Howrah on January 23, according to a PIB press release.

The swift sell-out comes days after Prime Minister Narendra Modi flagged off the country’s first Vande Bharat sleeper train from Malda town in West Bengal on January 17. The service is aimed at making long-distance overnight travel faster and more comfortable while improving connectivity between eastern India and the Northeast.

Vande Bharat Sleeper: All About The New Train

The semi-high-speed, fully air-conditioned Vande Bharat sleeper will run six days a week, barring Wednesdays from Kamakhya and Thursdays from Howrah. It will complete the Howrah–Kamakhya journey in about 14 hours, making it the fastest train on the route. En route, it stops at key stations including Malda Town, New Jalpaiguri, New Cooch Behar and New Alipurduar.Railway officials said that the strong booking response reflects a growing preference among passengers for modern trains that offer shorter travel times, improved safety and enhanced comfort.The new service is expected to significantly benefit passengers travelling between West Bengal and Assam, particularly those undertaking overnight journeys.The Vande Bharat Sleeper train has 16 coaches, including AC 3-tier, AC 2-tier and First AC with a total passenger capacity of 823. Fares range from Rs 2,299 for AC 3-tier to Rs 3,640 for First AC between Howrah and Kamakhya, excluding GST.Designed for a maximum speed of 160 kmph, the train is equipped with safety systems such as the indigenous KAVACH anti-collision technology and regenerative braking. Passenger amenities include improved sleeping berths, onboard information systems, CCTV surveillance, bio-vacuum toilets, and facilities for persons with disabilities.Officials said the introduction of the sleeper version of the Vande Bharat marks an expansion of India’s premium rail services beyond day travel, with the high occupancy on its first run indicating sustained demand for upgraded long-distance train travel in the region.

Noida techie Yuvraj Mehta’s car pulled out of pit

NEW DELHI: Days after 27-year old Noida techie drowned in a waterlogged trench, NDRF team pulled out his car on Tuesday. Police said the accident occurred in Greater Noida, within the jurisdiction of the Knowledge Park police station, late on the night of January 16–17, when the deceased Yuvraj Mehta’s car broke through the edge of a drain at the Sector 150 crossing and fell into the water.The NDRF team used boats and divers to locate his car and pull it out three days after the incident and loaded onto a truck.

Meanwhile, earlier in the day, police arrested the director of a real estate firm in connection with the death of the 27-year-old software engineer, while a Special Investigation Team (SIT) visited the spot and initiated its probe into the incident, officials said. “Abhay Kumar, the director of MZ Wiztown Planners and one of the accused in the case, has been arrested from Sector 150,” said, Additional Commissioner of Police (Greater Noida) Hemant Upadhyay, quoted by ANI.Also read: How civic neglect killed techie in ‘planned’ Noida; 2015 proposal ignoredEyewitnesses said the victim repeatedly cried out for help for nearly two hours, but despite the presence of police personnel and rescue teams at the site, he could not be rescued.His body was recovered on Saturday following an extended search operation carried out by the fire department, police, the State Disaster Response Force (SDRF) and the National Disaster Response Force (NDRF).Also read: Tale of a lucky trucker and an unlucky techie- How freezing water & ‘cold’ response cost a young life in NoidaWith regards to the probe, the three-member SIT, with ADG Bhanu Bhaskar, Meerut divisional commissioner Bhanu Chandra Goswami and Public Works Department chief engineer Ajay Verma, has been directed to submit its report within five days.Additionally, UP government also removed senior IAS officer Lokesh M as the CEO of Noida Authority, placing him on the “waitlist”.The case pertains to the incident, when Mehta’s SUV fell into a nearly 30-foot-deep, water-filled pit at a commercial site amid dense fog and low visibility. The pit was allegedly not secured with barricades, reflectors or warning signs.