Business
FBR cracks down on officials involved in smuggled vehicle regularization – SUCH TV
The Federal Board of Revenue (FBR) has launched strict action against officers implicated in the fraudulent regularization of smuggled vehicles, underscoring its zero-tolerance stance on corruption.
According to an official press release issued Wednesday, the crackdown is part of FBR’s ongoing transformation agenda, which prioritizes transparency, accountability, and institutional integrity.
The Board stressed that profiling of its workforce, coupled with disciplinary and criminal action, remains central to these reforms.
The development follows revelations of misuse of FBR’s Auction Module — introduced in August 2021 under the WeBOC system to curb fraudulent vehicle registrations and strengthen institutional controls.
The system was designed to allow Motor Registration Authorities (MRAs) to verify auctioned vehicle details online, reducing dependence on manual checks.
However, in July 2025, reports emerged that the module had been exploited.
A subsequent inquiry revealed that out of 1,909 vehicles uploaded in the system, 103 were fraudulently registered using fake user IDs, with 43 of them already cleared by MRAs.
Digital audits and internal investigations traced the fraud to compromised user IDs belonging to a Deputy Collector and an Assistant Collector, both of whom were suspended on July 9, 2025.
Investigators uncovered links between officials of MRAs, car dealers, and other criminal elements.
Recognizing the scale of the scam, FBR sought the formation of a Joint Investigation Team (JIT) comprising FIA, Customs, and intelligence agencies.
The FIA lodged an FIR on August 28, 2025, against identified officers, who have now been formally arrested.
So far, seven FIRs have been filed and 13 individuals arrested in connection with the broader racket.
Customs Enforcement continues to pursue additional suspects.
FBR underscored that the arrests send a “clear and firm signal” that corrupt practices will not be tolerated.
“Criminal elements within the organization will be identified, exposed, and prosecuted in accordance with the law,” the statement concluded.
Business
Mexico Slaps 50% Tariffs On India: Which Sectors Will Be Hit, How $1 Billion Exports Hangs By A Thread
New Delhi: Mexico has joined the growing list of countries imposing heavy tariffs on Asian imports. Just four months after the United States imposed 50% duties on Indian products, Mexico too approved levies of up to 50% on select goods from several nations, including India, China, South Korea, Thailand and Indonesia. These tariffs are set to come into effect from January 1, 2026.
According to the Mexican daily El Universal, the affected products include auto parts, light cars, clothing, plastics, steel, household appliances, toys, textiles, furniture, footwear, leather goods, paper, cardboard, motorcycles, aluminum, trailers, glass, soaps, perfumes and cosmetics.
The move is primarily aimed at protecting domestic producers and reducing the country’s dependency on imports from Asia.
Why Mexico Is Taking This Step
The Mexican government’s strategy is to bolster domestic production while reducing reliance on imports, particularly from China, which holds a substantial trade imbalance with Mexico.
China, in response, issued a statement on Thursday (December 11), stating that it “always opposes unilateral tariff hikes in all forms” and urged Mexico to “correct its wrong practices of unilateralism and protectionism at an early date”.
The tariffs are expected to generate an additional revenue of roughly US $3.8 billion (around Rs 33,910 crore) for Mexico.
President Claudia Sheinbaum has also emphasised that supporting domestic industries is a way to create jobs. “We believe that supporting (Mexican) industry is to create jobs,” said Deputy Ricardo Monreal, Morena’s leader in the Chamber of Deputies, according to mexiconewsdaily.com.
Economic analysts, however, suggest there may be a geopolitical dimension as well. El Financier, a Mexican economic outlet, states that the tariffs could be part of Mexico’s efforts to align with the United States ahead of the upcoming US-Mexico-Canada trade review.
Impact On India’s Exports
India is likely to feel the impact immediately, particularly in the automobile sector. The new duties will affect around $1 billion worth of Indian exports to Mexico, including vehicles from major manufacturers like Volkswagen, Hyundai, Nissan, and Maruti Suzuki, Reuters reported.
The import duty on cars will rise from 20% to 50%, a major blow to exporters in one of India’s important overseas markets.
“The proposed tariff hike is expected to have a direct impact on Indian automobile exports to Mexico…we seek Government of India’s support to kindly engage with the Mexican government,” the industry body wrote to the Ministry of Commerce before the tariffs were finalised.
Mexico ranks as India’s third-largest car export market after South Africa and Saudi Arabia. With the new levies, exporters may have to rethink pricing strategies and supply chains to maintain competitiveness.
As Mexico takes steps to protect its domestic industries, exporters from India and other affected Asian nations will have to navigate a challenging trade landscape, while policymakers look for diplomatic solutions to preserve market access.
Business
Delhi & NCR Residents, Take Note: You May Soon Board Your Train From These Two New Stations
New Railway Stations in Delhi: People living in Delhi and the National Capital Region (NCR) may soon have a new routine when it comes to catching long-distance trains. The Railway Ministry has indicated that two important stations in the city, Safdarjung and Bijwasan, are being redeveloped, and passengers might be asked to board trains from here in the near future instead of the crowded New Delhi station.
For many, these stations could turn out to be closer to home, saving both time and the stress of travelling across the city.
At present, most NCR residents have to make their way to New Delhi Railway Station, no matter where they live. That may no longer be the case. Both Safdarjung and Bijwasan stations are in the final stages of redevelopment, and officials say they are expected to be ready by March 2025.
Once they operational, a number of trains may be reallocated from the main station.
These upgrades are part of the Amrit Bharat Station Scheme, under which 13 stations in the Delhi Division are being modernised. Safdarjung and Bijwasan are among the most important of them, and the work on both is almost complete. As soon as the finishing rounds are done, they will be opened to the public.
What Makes These Two Stations Important
Bijwasan is set to become Delhi’s fifth-largest railway station, after New Delhi, Old Delhi, Hazrat Nizamuddin and Anand Vihar. Once opened, it will have seven platforms and is expected to ease a heavy load from New Delhi station.
One of its biggest strengths will be its connectivity. Plans include a skywalk that links the station directly to metro lines and parking zones, allowing passengers to reach the platforms without dealing with traffic on the roads outside. Officials believe this will make travel easier for a large number of daily commuters.
Safdarjung Railway Station, on the other hand, is being designed as a mixed-use space. It will include about 2,200 office units, turning the station into a commercial hub. People working there will be able to walk straight from their office building to the platforms.
Railway officials say this will be the first station in the country designed to function simultaneously as a business centre and a point of train boarding.
Why Trains May Move From New Delhi Station
Redevelopment work at New Delhi station has already begun. At the moment, the activity is concentrated on the outer areas of the complex. But once work moves closer to the tracks, train operations will have to be temporarily relocated.
During that period, a good number of trains are likely to be moved to Safdarjung and Bijwasan. According to the ministry, Bijwasan could handle trains heading towards Haryana, Rajasthan, Gujarat and other parts of western India. Safdarjung is being considered for trains going towards Howrah, Jammu and Lucknow.
How It Will Help NCR Residents
Large numbers of people from Delhi and NCR presently board trains from New Delhi station for long-distance travel. Many of them actually live closer to Safdarjung or Bijwasan but still have to travel all the way to the city centre.
Once the shift begins, these passengers will be able to board trains from a station near their home. This will save them an extra trip across Delhi and reduce the rush at the New Delhi station as well.
Business
Rivian stock slides 9% after unveiling new AI tech and robotaxi ambitions
Rivian debuted new tech at its first “Autonomy and AI Day” in Palo Alto, California, Dec. 11, 2025.
Credit: Rivian
PALO ALTO, Calif. – Electric vehicle maker Rivian Automotive has developed a custom chip, car computer and new artificial intelligence models that will enable it to bring self-driving features to its forthcoming vehicles, the company revealed at its first “Autonomy and AI Day” on Thursday here.
Shares of Rivian were off roughly 3% during the hourlong event, and fell further as OpenAI made its own AI announcement Thursday, revealing its most advanced model yet. The stock was down more than 9% in afternoon trading.
Rivian also said it plans to roll out an Autonomy+ subscription with “continuously expanding capabilities” to customers of its second-generation vehicles in early 2026, to be powered by its Rivian Autonomy Processors and autonomy computers.
The Autonomy+ offering will be priced at $2,500 as a one-time, up-front purchase or is available for $49.99 per month to start. By comparison, competitor Tesla offers its premium FSD (Supervised) option for $8,000 up front or a $99 per month fee.
“AI is enabling us to create technology and customer experiences at a rate that is completely different from what we’ve seen in the past,” Rivian founder and CEO RJ Scaringe said during the event.
Company executives said in a statement that a near-future software update will include a “Universal Hands-Free,” capability, enabling Rivian customers “hands-free driving” on more than 3.5 million miles of roads in North America, covering the vast majority of marked roads in the U.S.
Scaringe said the new advanced driver-assistance system will continue to improve as more miles are driven, through reinforced learning.
Unlike its primary competitor, Tesla, Rivian said it intends to use lidar, or light detection and ranging, systems and radar sensors in its forthcoming R2 cars to enable “level 4,” or fully automated driving, as defined by SAE Levels of Driving Automation.
A passenger can sleep in the back seat in a level 4 self-driving car while it carries them to their destination in normal traffic and weather conditions. Waymo, the Alphabet-owned robotaxi leader in the U.S., considers its vehicles level 4.
Rivian CEO RJ Scaringe at the company’s first “Autonomy and AI Day” on Dec. 11, 2025, in Palo Alto, California.
Lora Kolodny | CNBC
Scaringe said Thursday the company’s forthcoming self-driving vehicles enable it to pursue robotaxis, which Tesla has promised for years but has yet to launch.
“Now, while our initial focus will be on personally owned vehicles, which today represent a vast majority of the miles to the United States, this also enables us to pursue opportunities in the rideshare space,” Scaringe said during the event.
Rivian is not alone in aiming to deliver autonomous systems that meet level 4 expectations, while rolling out partially automated features along the way to drivers who generally want these to reduce fatigue on long drives or make them safer behind the wheel overall.
Tesla and General Motors are working on their own proprietary driverless systems, while Honda, Lucid and Nissan have partnered with venture-backed autonomous vehicle tech startups (Helm.AI, Nuro and Wayve, respectively) to develop similar systems with a range of different technical approaches.
Rivian and Tesla stock’s since Rivian went public.
Powering Rivian’s self-driving aspirations will be a new in-house chip, which is set to launch in 2026. Vidya Rajagopalan, Rivian vice president of electrical hardware, said the chip uses “multi-chip module” packaging and has “high memory bandwidth,” which is “key for AI applications.” Rivian’s chip boasts bandwidth of 205 gigabytes per second.
“Rivian is uniquely positioned to move from a software-defined vehicle and bring to the world an AI-defined vehicle,” Rivian Chief Software Officer Wassym Bensaid said.
The automaker also announced a new AI-powered “Rivian Assistant,” a next-generation voice interface launching in early 2026 on its first- and second-generation vehicles.
Rivian is under pressure to prove its future growth potential to investors and to grow its customer base amid slowing sales of battery electric vehicles in the U.S. and competition from Chinese EV makers internationally.
The fully electric vehicle segment has experienced a sales slump domestically after the Trump administration put an early end in September to a $7,500 federal tax credit previously available for EV buyers in the U.S.
Shares of Rivian are up about 25% this year, but remain off more than 80% since the company’s 2021 initial public offering amid internal and external challenges.
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