Prime Minister Narendra Modi on Tuesday met Australian Foreign Minister Penny Wong and held discussions on strengthening the expanding India-Australia Comprehensive Strategic Partnership. In a post on X, PM Modi highlighted cooperation between the two nations in areas including defence, trade, technology, and supply chain resilience. He also reaffirmed that India and Australia would continue working together to promote a free, open, secure, and prosperous Indo-Pacific region.
Penny Wong, who attended the Quad Foreign Ministers’ meeting, said the grouping is advancing several new initiatives aimed at addressing regional challenges. She stressed the need for practical outcomes and stronger cooperation as the Indo-Pacific faces increasing strategic and economic pressures, including concerns over energy security linked to developments around the Strait of Hormuz.
Wong welcomed diplomatic efforts to maintain freedom of navigation and opposed any measures that could restrict maritime movement. She also announced the launch of new Quad initiatives, including an energy security programme and the Quad Ports of the Future Partnership, which will begin with a pilot port infrastructure project in Fiji.
The Australian Foreign Minister further stated that the Quad nations would enhance maritime surveillance cooperation in the Indo-Pacific, beginning with efforts in the Indian Ocean and during Exercise Malabar. She added that the Indo-Pacific Partnership for Maritime Domain Awareness would now expand into the Indian Ocean region, allowing partners to access near real-time satellite tracking data to tackle illegal fishing, trafficking, and support humanitarian operations.
Wong also highlighted growing cooperation against cybercrime and scam centres in Southeast Asia through improved law enforcement coordination and cybersecurity partnerships. Speaking to the media later, Wong said Australian Prime Minister Anthony Albanese had announced that PM Modi would visit Australia in the near future. She described India and Australia as comprehensive strategic partners bound by strong strategic trust and shared interests in ensuring a peaceful, stable, and prosperous Indo-Pacific. She also noted that economic ties between the two countries continue to deepen, with India emerging as a vital economic partner for Australia amid efforts to diversify supply chains and boost economic growth.
Disclaimer: This image is taken from X/@narendramodi.
SK Hynix became the latest chipmaker to surpass a $1 trillion market valuation on Wednesday, joining rivals Samsung Electronics and Micron Technology as investor enthusiasm around AI-powered memory chips continued to surge. SK Hynix shares jumped 9.3% by the close after climbing nearly 15% during trading, pushing its market capitalization to a record 1,680 trillion won ($1.12 trillion). The rally also lifted South Korea’s KOSPI index to fresh highs. Samsung crossed the $1 trillion mark earlier in May, while Micron achieved the milestone a day earlier in the U.S.
The sharp gains have been fueled by soaring demand for advanced memory chips used in AI systems such as those powering NVIDIA hardware. Tight supply conditions have caused memory chip prices to skyrocket, with prices doubling in the first quarter and expected to rise further this quarter due to booming AI data center demand.
South Korea has now become the first country outside the United States to have more than one company valued above $1 trillion. The only other Asian company in the club is TSMC. Driven largely by Samsung and SK Hynix, the KOSPI index gained over 2% and briefly hit a record intraday peak, triggering temporary restrictions on algorithmic trading. Together, the two chipmakers now represent roughly half of the index’s total market value. The KOSPI has emerged as one of the world’s best-performing stock markets during the AI boom, soaring 95% this year after a strong rise last year as well.
Analysts expect memory chip demand to continue outpacing supply for years, supporting elevated prices and stronger earnings. Mirae Asset Securities raised its price targets for both SK Hynix and Samsung, while UBS significantly increased its forecast for Micron, citing long-term AI-driven changes in the memory chip industry.
This year alone, Samsung shares have climbed 149%, SK Hynix has surged 215%, and Micron has risen 245%. Investor excitement has also spread to exchange-traded funds linked to Samsung and SK Hynix. Newly launched leveraged ETFs tied to the companies posted strong double-digit gains on debut, attracting heavy retail investor interest. Analysts noted that ETF-related buying boosted futures markets and further supported stock prices. Retail demand became so intense that the Korea Financial Investment Association’s website briefly crashed as investors rushed to complete mandatory online courses required for leveraged ETF trading.
Disclaimer: This image is taken from Reuters.
During his three-day official visit to Canada, Piyush Goyal visited the BAPS Shri Swaminarayan Mandir and attended a community reception organised by the Consulate General of India. In a post on X, Goyal said he prayed for peace, prosperity, and the well-being of everyone. He described the temple as a representation of spirituality, harmony, service, and shared values, adding that it reflects the strong cultural and people-to-people connections that continue to deepen ties between India and Canada.
At the community event, Goyal highlighted India’s rapid economic progress under the leadership of Narendra Modi. He spoke about the growing opportunities in trade, investment, innovation, and people-to-people engagement through the proposed India-Canada Comprehensive Economic Partnership Agreement (CEPA). He also praised the Indian diaspora for acting as a strong bridge between the two countries through contributions in business, technology, academia, innovation, and community leadership while preserving Indian cultural values abroad.
Goyal paid homage at the Kanishka Memorial in memory of the victims of Air India Flight 182 bombing and met their family members. Calling it one of the deadliest acts of terrorism in aviation history, he said India and Canada are working together to ensure such incidents are never repeated. Goyal’s visit to Canada from May 25 to 27 comes as New Delhi and Ottawa intensify discussions on the proposed CEPA, which is seen as crucial for revitalising bilateral economic ties. During the trip, he met Canadian Prime Minister Mark Carney, Foreign Minister Anita Anand, Agriculture and Agri-Food Minister Heath MacDonald, and International Trade Minister Maninder Sidhu, among others.
He also interacted with leading Canadian business figures to explore investment opportunities and strengthen bilateral economic cooperation. Discussions mainly focused on financial services, infrastructure, sustainable agriculture, and critical minerals processing, while underlining the importance of stronger trade, investment, and technology partnerships between the two nations.
Disclaimer: This image is taken from X/@PiyushGoyal.
The Central government on Wednesday unveiled the SARTHAK-PDS scheme with an allocation of ₹25,530 crore to modernise the Public Distribution System (PDS), strengthen logistics and deploy artificial intelligence-based solutions for beneficiary management and grievance handling. The announcement was made by Union Information and Broadcasting Minister Ashwini Vaishnaw during a Cabinet briefing.
The scheme will be implemented over five years, from April 1, 2026 to March 31, 2031. It includes financial support for state agencies involved in the intra-state transportation of food grains, assistance for fair price shops and broader PDS modernisation initiatives. As part of the next phase of SMART PDS, the government introduced three AI-powered platforms — NIRMAL, ASHA and SAKSHAM. NIRMAL will serve as a real-time AI-based beneficiary registry, enabling live integration between ministries and convergence with other welfare schemes.
The ASHA module will operate as a multilingual AI-powered grievance redressal and citizen engagement system through calls, WhatsApp, IVRS and chatbots, with the capacity to manage up to three lakh interactions daily. SAKSHAM will function as an AI-driven supply chain management platform featuring vehicle tracking, QR-code traceability, demand forecasting and route optimisation tools.
According to the government, the technology-enabled framework is expected to improve the identification of eligible beneficiaries and enhance citizen satisfaction. The ASHA AI assistant is also expected to speed up grievance resolution in users’ preferred languages. The Centre further stated that the scheme could reduce food grain transportation distances by 15 to 50 per cent, helping minimise wastage and promote local procurement. Improved logistics are projected to save around ₹280 crore annually and cut carbon emissions by 35 per cent.
The programme will introduce QR-coded tags on food grain bags and vehicle tracking systems to improve transparency and monitoring across the supply chain. The government said the initiative aims to make the Public Distribution System more efficient, transparent, technology-driven and citizen-friendly while reducing operational leakages and strengthening delivery mechanisms.
Disclaimer: This image is taken from ANI.
The Assam Assembly on Wednesday passed the Uniform Civil Code (UCC) Bill despite protests from the opposition, which had demanded that it be referred to a select committee. The Bill aims to introduce a common legal framework for marriage, divorce, inheritance and live-in relationships across religions. With this, Assam became the third state after Uttarakhand and Gujarat to pass a UCC Bill, while Goa already follows a common civil law system. The legislation also seeks to ban polygamy and make registration of live-in relationships mandatory, though Scheduled Tribes in Assam have been exempted from its provisions.
Disclaimer: This image is taken from PTI.
Singapore’s Ministry of Trade and Industry (MTI) has kept its GDP growth forecast at 2–4%, supported by stronger-than-anticipated economic performance in the first quarter. At the same time, core inflation eased more than expected in April. Economists caution that geopolitical uncertainties and weaker external demand continue to pose risks. Susan Ng and Hairianto Diman discuss the strength of Singapore’s economy and its outlook for the coming months with Jeff Ng from Sumitomo Mitsui Banking Corporation.
Disclaimer: This podcast is taken from CNA.
Pippa Crerar and Kiran Stacey respond to reader questions on whether Andy Burnham could outperform Keir Starmer, whether Makerfield matters more for Reform UK than for Labour, and whether the UK could realistically rejoin the EU.
Disclaimer: This podcast is taken from The Guardian.
One method used to support wildlife conservation is to permit wealthy hunters to legally kill a small number of animals in exchange for very high fees. Supporters say the money helps protect habitats and fund conservation work. However, critics argue that this practice is ethically questionable and resembles neocolonial exploitation of African wildlife resources.
Disclaimer: This podcast is taken from The Guardian.
A prolonged and heated courtroom dispute between tech billionaires Elon Musk and Sam Altman has ended in a win for OpenAI’s CEO. Musk says he plans to challenge the decision. The case has raised wider questions about Big Tech influence and the worldwide competition in artificial intelligence. Lucy Hough discusses the outcome with Guardian US tech and power reporter Nick Robins-Early in a YouTube interview.
Disclaimer: This image is taken from The Guardian.
