The Reserve Bank of India (RBI) decided to maintain its key lending rate at 5.5% during the latest bi-monthly Monetary Policy Committee (MPC) meeting, which concluded on Wednesday. After three days of deliberations, Governor Sanjay Malhotra shared the central bank’s views on the country’s economic outlook, touching upon inflation trends, growth prospects, and the growing concerns over global trade tensions, especially in light of new tariff measures announced by the United States.
This was Malhotra’s fourth monetary policy statement since taking office. In his address, he outlined how India’s economy stands at a crucial juncture, navigating domestic strength while facing external challenges. Stressing the MPC's unanimous decision to hold the repo rate at 5.5%, he added that other key rates, including the Standing Deposit Facility at 5.25% and the Marginal Standing Facility and Bank Rate at 5.75%, would also remain unchanged. The Governor noted that the central bank would remain vigilant, continuously assessing fresh data and evolving economic conditions to guide future policy actions with a neutral stance.
A significant portion of Malhotra’s remarks focused on the uncertainties emerging from global trade disputes. He pointed out that the recent wave of tariff announcements and ongoing trade negotiations could pose headwinds to India’s growth in the near term. While the domestic economy shows resilience, he cautioned that external factors like tariffs, geopolitical tensions, and global financial market volatility could influence India’s growth trajectory.
Despite these risks, the RBI has retained its GDP growth projection at 6.5% for 2025-26. Malhotra attributed this confidence to favourable factors such as an above-normal monsoon, easing inflation, and supportive financial conditions. He also emphasized that sectors like construction and trade are likely to contribute significantly to services sector growth in the coming months.
On inflation, the Governor highlighted that headline inflation has eased considerably, mainly due to volatile food prices, while core inflation has remained stable. He acknowledged that although inflationary pressures have softened, volatility in food prices, especially vegetables, remains a concern. The RBI has previously reduced rates by 100 basis points since February 2025, and Malhotra mentioned that the effects of these cuts are still unfolding across the economy.
He further remarked on the global economic scenario, noting that while political uncertainties have somewhat subsided, global trade issues continue to pose challenges. Policymakers around the world are grappling with slow economic growth, sticky inflation, and elevated public debt. Despite these global challenges, Malhotra expressed optimism about India’s medium-term prospects, backed by strong fundamentals and robust economic buffers. However, he also cautioned that navigating this complex global environment will require careful policy manoeuvring.
Disclaimer: This image is taken from PTI.
Spanish performance brand Cupra has expanded its Singapore lineup with the introduction of three new models. Interestingly, at a time when the automotive industry is shifting towards electrification, all three additions are internal combustion engine (ICE) vehicles. They join the brand’s two electric models that were introduced during Cupra’s official debut in Singapore in March this year.
Among the newcomers, the Cupra Leon and Cupra Formentor are refreshed versions of models that were previously available in Singapore under the brand’s former dealership. The third model, the Cupra Terramar, is an all-new offering—a mid-size SUV that shares its underpinnings with the Volkswagen Tiguan.
True to Cupra’s sporty design language, the Terramar stands out with its sharp aesthetics, including a pointed front fascia and signature triangular daytime running lights. Its 2,681mm wheelbase ensures generous interior space, complemented by a 12.9-inch touchscreen infotainment display and front bucket seats upholstered in a suede-like fabric.
Under the hood, the Terramar is powered by a 1.5-litre turbocharged mild-hybrid engine that delivers 150hp and 250Nm of torque. This same powertrain is featured in the Cupra Leon, a hatchback akin to the Volkswagen Golf but with a more aggressive and streamlined design. The updated Leon also showcases a redesigned front end with Cupra’s distinctive sleek nose and triangular lighting elements. Inside, it mirrors the Terramar’s cabin, featuring the same 12.9-inch infotainment unit and suede-finished bucket seats.
Mechanically, the Leon benefits from enhancements like an XDS electronic differential lock and dynamic traction support, designed to sharpen its handling dynamics. For those seeking higher performance, the Cupra Formentor is the model to look at. This stylish coupe-SUV, slightly larger than the Terramar, is being offered in its top-tier VZ variant in Singapore, making it the flagship of Cupra’s local lineup. The Formentor VZ is powered by a potent 2.0-litre turbocharged engine that churns out 333hp and 420Nm of torque, enabling it to sprint from 0 to 100km/h in just 4.8 seconds.
The Formentor VZ is further equipped with high-performance Akebono brakes, an Akrapovic exhaust system, and advanced software features like a torque splitter and Drift mode, providing drivers with customizable driving dynamics and cornering fun. As of August 2025, prices in Singapore are set at $209,900 with COE for the Leon, $229,900 with COE for the Terramar, and $299,900 with COE for the Formentor VZ.
Disclaimer: This image is taken from AsiaOne/Ben Chia.
Prime Minister Narendra Modi on Wednesday inaugurated Kartavya Bhavan located at Kartavya Path in Delhi. He was accompanied by the Minister of Housing and Urban Affairs, Manohar Lal Khattar, for an inspection of the newly built complex. Kartavya Bhavan-03 is a significant component of the ongoing redevelopment of the Central Vista project. It is the first of several upcoming Common Central Secretariat buildings aimed at enhancing administrative efficiency and enabling faster governance, according to a press release from the Prime Minister’s Office (PMO). The project reflects the government’s commitment to administrative reforms by consolidating various ministries into a state-of-the-art facility designed to foster coordination, accelerate decision-making, and build a more responsive administrative environment.
At present, key ministries are scattered across ageing structures like Shastri Bhawan, Krishi Bhawan, Udyog Bhawan, and Nirman Bhawan, built between the 1950s and 1970s. These outdated buildings are inefficient and require high maintenance. The new infrastructure is expected to cut down on repair costs, improve productivity, enhance employee well-being, and upgrade service delivery.
Kartavya Bhavan-03 is designed to centralise ministries and departments that are currently spread across Delhi, thus boosting efficiency, innovation, and collaboration. The office complex covers approximately 1.5 lakh square meters, with two basement levels and seven floors (ground plus six stories). Ministries to be housed here include Home Affairs, External Affairs, Rural Development, MSME, DoPT, Petroleum & Natural Gas, and the office of the Principal Scientific Adviser (PSA).
As per the PMO, the new building showcases modern governance infrastructure with IT-enabled secure workplaces, ID-based access systems, integrated electronic surveillance, and a centralized command and control system. Sustainability is a key focus, with the building targeting a GRIHA-4 certification. It features double-glazed façades, rooftop solar panels, solar water heating systems, advanced HVAC (Heating, Ventilation, and Air Conditioning), and rainwater harvesting systems.
Kartavya Bhavan emphasizes eco-friendly practices such as zero-discharge waste management, on-site solid waste processing, electric vehicle charging points, and the use of recycled construction materials. Wastewater is treated and reused to meet most of the building’s water requirements. Recycled construction and demolition waste is used in masonry and paving blocks, while lightweight partitions minimize the use of topsoil and reduce structural load.
The building is engineered to consume 30% less energy, with features like specialized glass to control heat and noise, energy-efficient LED lighting, motion-sensor-based lights, smart power-saving lifts, and an advanced energy management system. The rooftop solar panels are expected to generate over 5.34 lakh units of electricity annually, while solar water heaters will supply more than 25% of the daily hot water needs. EV charging stations are also included. Later in the evening, around 6:30 PM, Prime Minister Modi is scheduled to address a public gathering at Kartavya Path, as stated in the official PMO release.
Disclaimer: This image is taken from DD News.
Russian and Chinese naval vessels are set to carry out joint patrols in the Asia-Pacific region following recent military exercises in the Sea of Japan, Interfax reported on Wednesday (August 6). According to a statement from the Russian Pacific Fleet's press service, "Naval crews from Russia and China's PLA Navy will establish a new task group for joint patrol missions in the Asia-Pacific."
From August 1-5, the two navies conducted joint drills in the Sea of Japan, which involved live artillery firing, anti-submarine warfare, air defense operations, and coordinated search and rescue exercises at sea. In the final phase of these drills, the Russian anti-submarine ship Admiral Tributs and corvette Gromky, alongside Chinese destroyers Shaoxing and Urumqi, performed live-fire exercises and practiced locating and eliminating a simulated enemy submarine, Interfax reported.
The Russian Pacific Fleet emphasized that the exercises were purely defensive and not aimed at any specific nation. Russia and China, who declared a "no-limits" strategic partnership just before Russia's 2022 invasion of Ukraine, regularly hold joint military drills to enhance coordination between their forces and demonstrate a unified stance to deter potential adversaries.
Disclaimer: This image is taken from Reuters.
A supporter of former Pakistani Prime Minister Imran Khan and his party shouts slogans while being taken into custody by police during a nationwide protest in Lahore, Pakistan, marking the second anniversary of Khan's arrest and calling for his release.
Disclaimer: This image is taken from Reuters.
Israeli Prime Minister Benjamin Netanyahu is said to be considering escalating the military offensive in Gaza to achieve a complete takeover. However, reports from Israeli media indicate that there are internal objections within the Israel Defense Forces to such a move. At the same time, around 600 retired Israeli officials have sent a letter to U.S. President Donald Trump, urging him to pressure Israel to bring an end to the conflict in Gaza. Hairianto Diman and Susan Ng discuss the latest developments with Professor Zach Levey, Visiting Professor in the International Affairs Program at the University of Colorado Boulder.
Disclaimer: This Podcast is taken from CNA.
Local authorities are receptive to suggestions for improving travel between Singapore and Johor but are not planning to fully open up cross-border ride-hailing services. They are, however, exploring the possibility of using ride-hailing apps to book cross-border trips with licensed taxis and expanding the number of pick-up and drop-off points in both countries. Hairianto Diman and Susan Ng discuss these developments with Associate Professor Walter Theseira from the School of Business at SUSS.
Disclaimer: This Podcast is taken from CNA.
The US makes up less than 15 percent of global trade, yet President Donald Trump succeeded in imposing tariffs on the country’s largest trading partners. Arnold Gay discusses with trade expert Deborah Elms, joined by Leong Wai Kit and Toni Waterman, to explore why numerous countries gave in to Trump’s demands.
Disclaimer: This Podcast is taken from CNA.
In 2024, Singaporeans lost a record S$1.1 billion to scams, with most victims being under 50 years old. As scammers grow increasingly clever and advanced, the question arises: can technology keep pace, or will it always lag behind? In this week’s Deep Dive, Li Hongyi and Hygin Prasad Fernandez from Open Government Products join Steven Chia and Otelli Edwards to explore whether it's truly possible to outsmart scammers.
Disclaimer: This Podcast is taken from CNA.
