Business
Investment focus: CII pitches reforms for Budget 2026-27; industry body seeks capex push – The Times of India
The Confederation of Indian Industry (CII) has urged the Centre to adopt a wide-ranging set of reforms in the Union Budget 2026-27 to reinforce India’s investment-led growth cycle and sustain its position as one of the world’s fastest-expanding major economies, PTI reported.In a detailed submission for the upcoming Budget, CII recommended raising central capital expenditure by 12% and increasing capex support to states by 10% in FY27, launching a Rs 150 lakh crore National Infrastructure Pipeline (NIP) 2.0 for 2026-32, and introducing incremental tax credits or compliance relaxations for companies achieving notable milestones in investment, output or tax contribution. The industry body also sought an NRI Investment Promotion Fund and the reinstatement of accelerated depreciation benefits to spur fresh capital expenditure, especially for MSMEs and manufacturing sectors, without triggering Minimum Alternate Tax (MAT) liability.CII said strengthening the National Investment and Infrastructure Fund (NIIF) through a proposed Sovereign Investment Strategy Council (SIFC) would help align investments with national economic priorities. The Union Budget for FY27 is scheduled to be presented on February 1.According to the industry chamber, replacing rigid annual fiscal-deficit rules with an economic-cycle-based public debt framework would bolster resilience and allow counter-cyclical flexibility during global shocks, while ensuring the credibility of medium-term debt sustainability.“The forthcoming Union Budget 2026-27 has to serve the dual role of stabiliser and growth enabler, and promoting investments will be one of the most critical components in this regard,” said CII Director General Chandrajit Banerjee.He added that CII’s proposals centre on fiscal prudence, capital efficiency and building investor confidence.CII stressed that public capex has been the backbone of India’s post-pandemic recovery, crowding in private investment. To improve execution, it suggested creating a Capital Expenditure Efficiency Framework (CEEF) for selecting high-impact projects and monitoring outcomes based on productivity and regional growth spillovers.The chamber said facilitating private and foreign investment will be essential in driving the next phase of expansion. It proposed tax incentives linked to new investment and production milestones in high-growth areas such as clean energy, electronics, semiconductors and logistics. It also suggested the creation of an NRI Investment Promotion Fund — a government-private entity with up to 49% government stake — to mobilise overseas and institutional capital into infrastructure and emerging sectors.Further, easing external commercial borrowing norms with higher limits, longer tenures and partial risk cover for infrastructure and manufacturing projects would improve access to foreign capital, CII said. A single-window clearance system with deemed approval within 60-90 days for large FDI proposals was also recommended to accelerate big-ticket investment decisions.To deepen engagement with global investors, CII proposed an India Global Economic Forum — a government-led platform bringing together sovereign wealth funds, pension funds, private equity firms and multinational corporations for structured dialogue with senior policymakers.“An investment-driven growth strategy, anchored in fiscal credibility and institutional reforms, will define India’s next development phase,” Banerjee said.
Business
Middle East war affects tens of thousands of bookings, Lastminute says
Travel agent Lastminute.com said war in the Middle East has impacted some 17,000 bookings, while holidaymakers are shifting towards alternative destinations like the Canary Islands and Sardinia.
The website, which offers holiday packages to destinations including Dubai and Abu Dhabi, said it was having to “adapt quickly” to travellers changing their preferences in light of the conflict.
The US-Israeli war with Iran, which escalated at the end of February, led to disruption and cancellations of some flights to Gulf states including the United Arab Emirates, Saudi Arabia and Qatar.
The airspace closures, coupled with consumer sentiment when it comes to travel taking a hit, affected approximately 17,000 bookings, Lastminute revealed.
It said the total volume of affected travel around the region is currently the equivalent of about a day and a half of its normal daily operations.
Despite the conflict influencing where and when people choose to book trips, the “overall intent to travel remains high”, according to Lastminute.
Consumers have been seeking reassurance and flexibility, and early booking patters indicate a shift in the preferences of travellers.
It noted increased demand toward alternative destinations such as Spanish archipelagos the Canary and Balearic Islands, Italian islands Sicily and Sardinia, and other European city breaks.
Lastminute’s chief executive Alessandro Petazzi said: “We continue to closely monitor the evolving situation in the Middle East, with supporting our customers remaining our top priority.
“At the same time, Lastminute.com’s flexible, pan-European model enables us to adapt quickly as travel patterns evolve, with demand naturally rebalancing across destinations.”
The Netherlands-based company reported a 15% jump in revenues to 361 million euro (£315 million) for the 2025 financial year, compared with the year before.
Adjusted earnings before tax and other costs increased by a third to 55 million euro (48 million).
The company said it was remaining “vigilant” against the geopolitical situation in the Middle East, but added that it was sticking to forecasts of a roughly 10% increase in revenues and profits in the year ahead.
Business
Oven Pride firm McBride sees ‘first signs’ of supply shortages due to Iran war
Oven Pride household goods group McBride has revealed “temporary” price hikes to cover increased costs from the Iran war and warned it was seeing the first signs of supply shortages caused by the conflict.
The group, which makes branded and white label household and cleaning products for the likes of Tesco and Sainsbury’s, said until now it had only seen a small impact from higher haulage costs due to fuel price rises, but said “these conditions have now started to change”.
It said the “most heavily impacted” chemical and packaging suppliers are pushing through price increases as they face rising costs for petrochemical-derived feedstocks and higher energy costs in chemical and packaging production.
“The first signs of possible shortages in supply chains around the world are beginning to emerge,” it added.
McBride said its costs are increasing this month and will rise further due to the war, and is set to lift prices to offset the hit.
“The group has already informed all customers about temporary price adjustments, or surcharges to current pricing, to recover these higher, beyond our control, cost impacts from the Middle East conflict,” McBride said.
The warnings come amid mounting worries over the impact of the conflict on supply and costs, having sent oil prices surging above 100 US dollars a barrel and causing widespread disruption to global shipping.
Supermarkets met with Chancellor Rachel Reeves and Energy Secretary Ed Miliband at No 11 on Wednesday to look at issues caused by the war and agreed to explore together how to ease the cost-of-living impact for consumers.
McBride’s comments came in an update as it also announced a £34.5 million deal to buy Eurotab – a French-based specialist in cleaning tablets, such as for dishwashers.
Business
Tiger Woods won’t captain 2027 Ryder Cup team as golf future remains uncertain
Tiger Woods of Jupiter Links Golf Club looks on before the match against the Los Angeles Golf Club at SoFi Center in Palm Beach Gardens, Florida, March 24, 2026.
Adam Glanzman | TGL Golf | Getty Images
Tiger Woods’ future in professional golf remains unclear as he seeks treatment after a rollover car crash last week.
Woods was arrested for a DUI after the accident in Jupiter Island, Florida, his second rollover in five years, and said in a statement on X that he would be stepping back from golf “to return to a healthier stronger, and more focused place.”
Woods did not provide a timeline for his return, only that he would be stepping away for a “period of time.”
On Wednesday, the PGA of America announced that Woods will no longer serve as captain of the 2027 U.S. Ryder Cup Team.
“We support his decision,” the PGA of America said in a statement on X. “We commend Tiger for prioritizing his long-term health and deeply respect the courage it takes to make such a personal decision.”
The latest developments leave Woods at least temporarily at the fringes of the sport that made him a household name. The golf community has rallied around the sport’s biggest star as he vows to “focus on his health,” and the PGA Tour said in a statement that Woods has the organization’s full support.
“Tiger Woods is a legend of our sport whose impact extends far beyond his achievements on the course. But above all else, Tiger is a person, and our focus is on his health and well‑being,” the tour said.
Off the course, Woods has been serving as chairman of the PGA Tour’s Future Competition Committee since August. That group has been responsible for creating a vision for the future of professional golf.
A PGA Tour spokesperson said that Woods will return to that role when he is ready to do so.
Golf Channel analyst and former tour pro Brandel Chamblee suggested it could be time for Woods to consider retirement following his latest accident. Woods, 50, has been recovering from various injuries sustained in his car crash in 2021.
“Why would he need to play golf anymore?” Chamblee asked Friday on the Golf Channel’s “Golf Central.” “I think he should probably ask himself that. Consider not playing golf anymore.”
Until Friday’s accident, Woods held onto hope that he would compete in the upcoming Masters Tournament this month.
Augusta National Golf Club Chairman Fred Ridley confirmed this week that Woods would not play.
“Although Tiger will not be joining us in person next week, his presence will be felt here in Augusta,” Ridley said. “Augusta National Golf Club and the Masters Tournament fully support Tiger Woods as he focuses on his well-being.”
TGR, Woods’ education foundation, said it remains committed to serving its students and communities.
“Our thoughts are with our founder as he takes the time needed to focus on his health,” its CEO Hrag Hamalian said in a statement.
Woods’ apparel brand, Sun Day Red, also voiced its support this week.
“He is not just our partner, he is our friend. We are here for him and we remain focused on the work we are building together,” the company said in a post on the Meta-owned Threads platform.
TGL, the indoor golf league founded by Woods and Rory McIlroy, declined to comment about Woods’ hiatus and potential return.
Woods made his first TGL playing appearance of the season for the Jupiter Links team last week in front of a notable audience. ESPN said nearly 1 million viewers tuned in to watch Woods’ return, making it the largest audience this season.
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