Business

UAE to accelerate work on oil pipeline project to bypass Strait of Hormuz: Details

The United Arab Emirates (UAE) is accelerating construction work of a new oil pipeline that will make it more capable of exporting crude without relying on the Strait of Hormuz, one of the busiest and most strategically significant shipping routes in the world. According to reports, Crown Prince Khaled bin Mohamed bin Zayed Al Nahyan has directed the Abu Dhabi National Oil Company (ADNOC) to fast-track construction of the West-East Pipeline during a recent executive committee meeting. The pipeline is under construction and expected to start operating next near.

Meerut to Prayagraj via Ganga Expressway: Toll-free ride over, here’s how much you will have to pay

The period of toll-free travel on the Ganga Expressway, one of Uttar Pradesh’s largest and most ambitious expressway projects, has now ended. Commuters travelling on the expressway will now have to pay a toll tax. The expressway, which reduces the distance between western and eastern Uttar Pradesh, is also poised to become a major source of revenue for the government. Let’s take a detailed look at how much the journey from Meerut to Prayagraj will cost if you travel via the Ganga Expressway.

India, UAE sign MoU for strategic petroleum reserves, here’s why it holds significance amid US-Iran conflict

Prime Minister Narendra Modi is in the United Arab Emirates (UAE) during his six-day tour. PM Modi, during his around four-hour stay in the Gulf nation, held wide-ranging talks with President Sheikh Mohamed bin Zayed Al Nahyan. The two countries have signed a memorandum of understanding (MoU) regarding Strategic Petroleum Reserves. An agreement was reached concerning the long-term supply of Liquefied Petroleum Gas (LPG), and an MoU was signed for the establishment of a Ship Repair Cluster at Vadinar in Gujarat.

Maharashtra government announces steep reduction in VAT on jet fuel, slashes it to 7%

In a relief to airlines, the Maharashtra government has significantly reduced Value Added Tax (VAT) on Aviation Turbine Fuel (ATF). According to an official notification, the state government has slashed VAT from 18 per cent to 7 per cent. The slashed VAT will be applicable for a period of six months. The decision comes on a day when petrol and diesel prices were hiked by Rs 3 per litre each, marking the first increase in more than four years, as state-run fuel retailers passed on part of the hit from surging global crude prices triggered by the Iran war.

Income Tax Return of AY 2026-27 begins with release of excel utilities for ITR-1, ITR-4: here’s who can file

There is an important update for those who file income tax returns annually. The Income Tax Department has officially begun the process of filing income tax returns for the financial year 2025-26 (AY 2026-27). Sharing this information on social media handles, the department stated that the excel utility for ITR-1 and ITR-4 forms has been activated on the e-filing portal. This move by the Income Tax Department aims to save taxpayers from a last-minute rush. By taking action now, taxpayers can file their returns before the July 31, 2026, deadline. According to information from the Income Tax Department, eligible taxpayers can download the relevant forms from the official portal. The department stated that both excel utility and online filing options are available for AY 2026-27.