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India-US trade deal: ‘Talks are happening at different levels’, says official; Piyush Goyal-led team expected to return this week – The Times of India

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India-US trade deal: ‘Talks are happening at different levels’, says official; Piyush Goyal-led team expected to return this week – The Times of India


The official indicated that the ministerial delegation is scheduled to return later this week. (AI image)

India-US trade deal: At a time when Commerce minister Piyush Goyal is in America, an official has said that the trade deal talks between India and US are happening at various levels.“Talks are happening at different levels,” an official told PTI. The official indicated that the ministerial delegation is scheduled to return later this week. Multiple discussions between India and the US are ongoing, addressing both trade and non-trade matters, according to the official.Currently in the US for trade discussions, Piyush Goyal is joined by high-ranking ministry officials, including special secretary and chief negotiator Rajesh Agrawal. During his visit, Goyal has engaged in consultations with his American counterpart.This visit follows recent discussions in New Delhi between US Chief Negotiator Brendan Lynch and Agrawal regarding the proposed bilateral trade agreement.On September 16, the commerce ministry announced that the single-day discussions with the visiting US delegation about a bilateral trade deal were constructive, with both countries agreeing to work towards a swift and advantageous conclusion of the agreement.Senior US trade officials visited India for the first time following the implementation of a combined 50% tariffs on Indian goods in the American market, partly due to India’s procurement of Russian crude oil.Officials from both nations began negotiations for a proposed Bilateral Trade Agreement (BTA) in February this year, following directives from their respective leaders.The initial phase of the agreement was scheduled for completion in autumn (October-November) of 2025, with five rounds of discussions already completed. The agreement aims to increase bilateral trade from $191 billion to $500 billion by 2030.Earlier in May, Goyal travelled to Washington for trade discussions and held meetings with US Commerce Secretary Howard Lutnick.In 2024-25, the US maintained its position as India’s primary trading partner for the fourth successive year, with bilateral trade reaching $131.84 billion (USD 86.5 billion exports).The US represents approximately 18 per cent of India’s total goods exports, 6.22 per cent of imports, and 10.73 per cent of the country’s overall merchandise trade.





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Man arrested in connection with cyber-attack on airports

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Man arrested in connection with cyber-attack on airports


Imran Rahman-JonesTechnology reporter and

Joe TidyCyber correspondent, BBC World Service

Getty Images Queues of people with trolleys filled with baggage wait at a busy airport terminal Getty Images

A person has been arrested in connection with a cyber-attack which has caused days of disruption at several European airports including Heathrow.

The National Crime Agency (NCA) said a man in his forties was arrested in West Sussex “as part of an investigation into a cyber incident impacting Collins Aerospace”.

There have been hundreds of flight delays after Collins Aerospace baggage and check-in software used by several airlines failed, with some boarding passengers using pen and paper.

“Although this arrest is a positive step, the investigation into this incident is in its early stages and remains ongoing,” said Paul Foster, head of the NCA’s national cyber crime unit.

The man was arrested on Tuesday evening on suspicion of Computer Misuse Act offences and has been released on bail.

The BBC has seen an internal memo sent to airport staff at Heathrow about the difficulties software provider Collins Aerospace is having bringing their check-in software back online.

The US company appears to be rebuilding the system again after trying to relaunch it on Monday.

Collins Aerospace’s parent company RTX Corporation told the BBC it appreciated the NCA’s “ongoing assistance in this matter”.

The US firm has not put a timeline on when it will be ready and is urging ground handlers and airlines to plan for at least another week of using manual workarounds.

At Heathrow, extra staff have been deployed in terminals to help passengers and check-in operators but flights are still experiencing delays.

On Monday, the EU’s cyber-security agency said ransomware had been deployed in the attack.

Ransomware is often used to seriously disrupt victims’ systems and a ransom is demanded in cryptocurrency to reverse the damage.

These types of attacks are an issue for organisations around the country, with organised cyber-crime gangs earning hundreds of millions of pounds from ransoms every year.

Days of disruption

The attack against US software maker Collins Aerospace was discovered on Friday night and resulted in disruption across many European airports, including in Brussels, Dublin and Berlin.

Flights were cancelled and delayed throughout the weekend, with some airports still experiencing effects of the delays into this week.

“The vast majority of flights at Heathrow are operating as normal, but we encourage passengers to check the status of their flight before travelling to the airport,” Heathrow Airport said in a statement on its website.

Berlin Airport said on Wednesday morning “check-in and boarding are still largely manual”, which would result in “longer processing times, delays, and cancellations by airlines”.

While Brussels Airport advised passengers to check in online before arriving at the airport.

Cyber-attacks in the aviation sector have increased by 600% over the past year, according to a report by French aerospace company Thales.

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Housing Sales In Top 9 Indian Cities Slip 4% In Q3 2025, Launches Flat: Report

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Housing Sales In Top 9 Indian Cities Slip 4% In Q3 2025, Launches Flat: Report


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New launches remain largely flat at 92,229 units, marginally below the one-lakh mark and down 10% on a sequential basis, according to real estate data analytics firm PropEquity.

Despite subdued launches, PropEquity expects housing demand to pick up in the festive quarter, driving stronger absorption and improved launch momentum.

Despite subdued launches, PropEquity expects housing demand to pick up in the festive quarter, driving stronger absorption and improved launch momentum.

Housing sales across India’s top nine cities declined by 4% year-on-year in the July–September quarter of 2025, settling just above the one-lakh mark at 1,00,370 units, according to a report by real estate data analytics firm PropEquity. This marked the 10th consecutive quarter of decline.

New launches remained largely flat at 92,229 units, marginally below the one-lakh mark and down 10% on a sequential basis.

The nine cities tracked in the report are Bengaluru, Chennai, Hyderabad, Mumbai, Navi Mumbai, Pune, Thane, Kolkata, and Delhi-NCR.

Maharashtra region weighs on sales

The annual drop in sales was largely led by Maharashtra markets — Mumbai, Navi Mumbai, Thane, and Pune — which recorded contractions ranging from 6% to 28%. Pune remained the largest market with 17,762 units sold but posted a 16% fall. Thane saw the sharpest fall at 28%.

Bengaluru, however, emerged as a bright spot, recording 16,840 units sold — a 21% jump YoY — making it the second-largest market. Chennai and Kolkata also saw strong growth of 16% and 25% respectively, while Delhi-NCR and Hyderabad reported modest 4% gains.

On a sequential basis, sales fell by 1%. Delhi-NCR witnessed the steepest quarterly fall of 24%, followed by Thane at 11%, while the other seven cities registered growth.

Samir Jasuja, founder and CEO of PropEquity, said, “The reason why we feel that the housing market remains healthy even though the new launches are coming down consecutively is because the sales continue to be higher than the new launches. We anticipate that 2025 will mirror 2024 with approximately 4 lakh unit launches and approximately 4.5 lakh sales, which is marginally lower than the 2024 numbers.”

City Q3 2024 Q2 2025 Q3 2025 Q-o-Q Y-o-Y
Bengaluru 13,966 15,743 16,840 7% 21%
Chennai 4,675 5,292 5,406 2% 16%
Hyderabad 12,311 12,017 12,860 7% 4%
Kolkata 3,774 3,828 4,732 24% 25%
Mumbai 10,480 8,244 9,691 18% -8%
Navi Mumbai 7,650 7,114 7,212 1% -6%
Pune 21,066 17,808 17,762 0% -16%
Thane 20,620 16,644 14,877 -11% -28%
Delhi-NCR 10,539 14,481 10,990 -24% 4%
Total 1,05,081 1,01,171 1,00,370 -1% -4%

New supply trends

On the supply side, new launches remained flat year-on-year but fell 10% sequentially. Bengaluru accounted for nearly one-fifth of new supply despite a 10% YoY decline. Chennai, Navi Mumbai, Pune, and Kolkata reported a rise in launches, while Bengaluru, Hyderabad, Mumbai, Thane, and Delhi-NCR recorded contractions.

Delhi-NCR saw the sharpest quarter-on-quarter fall at 31%, followed by Chennai (29%) and Pune (15%). Hyderabad, Kolkata, and Navi Mumbai bucked the trend with sequential growth.

Outlook

Despite subdued launches, PropEquity expects housing demand to pick up in the festive quarter, driving stronger absorption and improved launch momentum.

Vijay Harsh Jha, founder and CEO of property brokerage firm VS Realtors, said, “NCR continues to show strong sales momentum. Launches have come down significantly owing to the monsoon season as developers wait to launch projects during the festive quarter in anticipation of demand. The GST cut may drive sentiment-induced demand.”

Ramji Subramaniam, managing director of Sowparnika Projects, said, “The surge in Bengaluru’s housing sales reflects the deep confidence buyers have in the city’s real estate potential. Unlike other markets that have seen a dip, Bengaluru continues to stand out, especially as a global city, thanks to its salubrious climate, a cosmopolitan culture that welcomes people from across India and abroad, and strong demand from families seeking a better standard of living, quality education, and access to a leading higher education hub.”

Added to this are the city’s thriving IT and startup ecosystem, infrastructure development such as the Metro, demand for quality homes among young professionals and millennials with significant disposable incomes, and its reputation for offering one of the best work-life balances across all sections. For us as developers, this reaffirms the importance of continuous innovation, uncompromising quality, and delivering homes that meet the aspirations of today’s buyers, he added.

Vishesh Rawat, vice-president & head (marketing, sales & CRM) of M2K Group, said, “The fact that Delhi-NCR recorded a 4% uptick in sales signals that the demand in the NCR is still strong. Going into the festive quarter, we are experiencing positive buyer sentiment and pent-up demand to translate into improved absorption. Alongside, GST rationalisation will play its part in reducing cost pressures on developers, further boosting homebuyer confidence. We look forward to capturing this upswing, confident that the festive tailwinds will amplify the region’s growth momentum.”

Mohammad Haris

Mohammad Haris

Haris is Deputy News Editor (Business) at news18.com. He writes on various issues related to personal finance, markets, economy and companies. Having over a decade of experience in financial journalism, Haris h…Read More

Haris is Deputy News Editor (Business) at news18.com. He writes on various issues related to personal finance, markets, economy and companies. Having over a decade of experience in financial journalism, Haris h… Read More

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Households to be offered energy bill changes, but unlikely to lead to savings

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Households to be offered energy bill changes, but unlikely to lead to savings


Kevin PeacheyCost of living correspondent

Getty Images A smart meter energy display on a kitchen surface with the screen saying £1.26 of energy has been used today. A woman in the kitchen is blurred in the background.Getty Images

Every household will be offered a low standing charge deal by the end of January, under new plans, but the cost of overall energy bills is unlikely to fall.

Regulator Ofgem has announced all suppliers in England, Scotland and Wales will offer at least one tariff in which standing charges are lower but customers then pay more for each unit of energy used.

The move comes after those who use relatively little gas and electricity argued they have no control over the fixed daily charges, which cover the cost of connecting to a gas and electricity supply.

However, consumer champion Martin Lewis said the policy was “disappointing” and charities warned it did not address the issue of high bills.

Standing charges pay for the cost of transporting energy to people’s homes, security of the supply, investment in the energy network and some bill support schemes.

From 1 October, the charges will typically cost 53.68p a day for electricity and 34.03p a day for gas for those paying by direct debit.

However, these fees vary depending on where billpayers live. In North Wales and Merseyside, the cost will be nearly 70p a day for electricity, for example.

Ofgem has been considering how to change the bill payments system after widespread concern and backlash from households.

When bills were at a peak in the winter of 2022, many people slashed their energy use but still had to pay the standing charge element of the bill, regardless of how much gas or electricity was used.

While Ofgem’s plans will enable customers to take up a deal where standing charges are lower, the savings are likely to be limited due to such tariffs having higher rates for energy usage.

“Plans to offer a lower standing charge may provide more choice to consumers, but won’t bring down people’s bills,” said Gillian Cooper, director of energy at Citizens Advice.

Ofgem said costs covered by standing charges must be paid somehow, and so has said it could only move them to another part of the bill.

The announcement of the plans comes as energy bills for millions of people on tariffs which vary with Ofgem’s price cap are rising by 2% in October.

Rising standing charges are part of that, with the fees typically rising by 4% for electricity and 14% for gas.

‘More choice’

“We have carefully considered how we can offer more choice on how they pay these fixed costs, however we have taken care to ensure we don’t make some customers worse off,” said Tim Jarvis, from Ofgem.

The regulator’s latest proposals are less radical than previously considered, and it would also require tariffs to have a minimum usage level.

Under its plans, now subject to consultation:

  • All suppliers in England, Scotland and Wales must offer a low standing charge tariff to customers. Some providers already offer this as an option, but it would be universal
  • All billpayers will have the choice to move to such a tariff by the end of January
  • The new tariffs will be available to customers irrespective of how they pay their bill, such as by direct debit or quarterly on demand

“The costs covered by the standing charge ultimately must be paid. We cannot remove these charges, we can only move costs around,” added Mr Jarvis.

“These changes would give households the choice they have asked for, but it’s important that everyone carefully considers what’s right for them as these tariffs are unlikely to reduce bills on their own.”

People who cut their energy use should see a bigger reduction in bills than would be the case without these changes, he said.

Suppliers will be able to decide whether to also offer zero standing charge tariffs, with much higher unit rates.

Rising cost

Many charities say that rather than shifting the fee onto another part of the bill, more should be done to help those struggling to pay.

“With October’s price hike just around the corner, lower standing charge tariffs will not help the millions of households bracing themselves for yet another winter of unaffordable energy bills,” said Ms Cooper, of Citizens Advice.

Campaigners are also concerned that more tariffs could create greater confusion.

Mr Lewis, the founder of Money Saving Expert, said the “disappointing” plan seemed to be “significantly watered down” from earlier proposals.

“I get more complaints about standing charges than anything else in energy bills,” he said. “I worry Ofgem has picked an easy route to appease suppliers’ concerns, that doesn’t help the most vulnerable.

“I suspect if it goes ahead like this, not enough people will switch and they’ll say ‘it wasn’t worth it.'”

Dhara Vyas, from Energy UK, which represents suppliers, said it was hard to see how the move warranted the potential cost and disruption.

“Ofgem admits [this] will only be temporary and merely move costs around on the bill, so delivering a limited benefit to customers,” she said.

The plans will now go to consultation before a final decision is made.



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