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President Donald Trump announced a blockade of all "sanctioned oil tankers" entering Venezuela, intensifying pressure on President Nicolás Maduro's regime. This move follows the U.S. military's recent seizure of an oil tanker off Venezuela's coast and a significant military buildup in the region. Trump accused Venezuela of using oil revenues to fund drug trafficking and vowed to maintain military presence until the country returns U.S. assets. In response, Venezuela condemned the blockade as a violation of international law and a threat to free navigation, asserting that Trump's demands for its oil and resources are irrational. The U.S. has conducted military strikes on vessels in international waters, claiming success in curbing drug trafficking, while bipartisan scrutiny of the campaign grows. Venezuela, heavily reliant on oil exports, has resorted to unflagged tankers to navigate U.S. sanctions, with most of its oil going to China. 
Published: Dec 17 2025, 9 ameznews.inIndia and Ethiopia have formalized their historical ties into a strategic partnership, as Prime Minister Narendra Modi engaged in extensive discussions with Ethiopian Prime Minister Abiy Ahmed Ali on Tuesday. Modi, on his first bilateral visit to Ethiopia, emphasized the significance of this partnership in enhancing cooperation across various sectors, including economy, technology, and healthcare. The leaders signed eight agreements, including customs cooperation and increased scholarships for Ethiopian students in India. Modi expressed gratitude for Ethiopia's support in India's fight against terrorism and highlighted the countries' shared commitment to peace and development. Ali praised India's role in prioritizing Africa's needs and noted Ethiopia's strong economic growth, with India being a leading source of foreign direct investment. The visit included cultural exchanges, such as a traditional coffee ceremony, and Modi received Ethiopia's highest honor, the Great Honour Nishan. He is set to address the Ethiopian Parliament on the value of their partnership for the Global South.
Published: Dec 17 2025, 9 ameznews.inHaryana is embarking on an ambitious initiative to register 1.38 crore farmers under the Farmer Registry (AgriStack) using Aadhaar OTP-based authentication, which will generate unique Farm IDs aimed at enhancing the targeted delivery of benefits. Financial Commissioner Sumita Misra has directed deputy commissioners to organize village-level camps in collaboration with revenue and agriculture departments to expedite the process. During a recent video conference, she emphasized the importance of maximizing farmer participation and outreach in rural areas, with a completion target set for February 2026. Misra described the initiative as transformational, highlighting that accurate data collection will bolster digital land and crop records, improve the targeting of agricultural schemes, and ensure efficient benefit delivery. The registration process is set to commence in three districts—Ambala, Panchkula, and Faridabad—starting Wednesday.
Published: Dec 17 2025, 9 ameznews.inThe Pension Fund Regulatory and Development Authority (PFRDA) has announced a significant change to the National Pension System (NPS) withdrawal rules, now allowing subscribers to make up to four partial withdrawals before retirement, an increase from the previous limit of three. This adjustment permits withdrawals for various purposes, including higher education and marriage, with each withdrawal capped at 25% of the subscriber's contributions. The new guidelines stipulate that withdrawals can occur with a minimum interval of four years before the age of 60 or retirement, and every three years thereafter. Additionally, subscribers can now take loans against their NPS accounts for similar purposes, with lenders able to place a lien on the account. The changes aim to provide greater financial flexibility for subscribers while maintaining the integrity of the pension system.
Published: Dec 17 2025, 9 ameznews.inThe Indian government has launched a ₹7,280 crore scheme to promote the manufacturing of Sintered Rare Earth Permanent Magnets (REPM), aiming to reduce reliance on China and secure supply chains for electric vehicles, electronics, aerospace, and green energy. Approved by the Union Cabinet, the initiative seeks to establish a domestic value chain for converting rare earth oxides into neodymium-iron-boron (NdFeB), crucial for India's industrial growth. The Heavy Industries Ministry announced plans to set up 6,000 MTPA of integrated manufacturing facilities, with beneficiaries receiving sales-linked incentives and capital subsidies. A transparent bidding process will allocate production capacity to five applicants, with a minimum of 600 MTPA and a maximum of 1,200 MTPA per beneficiary. The scheme spans seven years, including a two-year gestation period, and aims to address India's current dependence on imports for sintered NdFeB REPMs, despite having significant rare earth reserves.
Published: Dec 17 2025, 8 ameznews.inThe Pension Fund Regulatory and Development Authority (PFRDA) has introduced significant amendments to the National Pension System (NPS) to enhance flexibility for non-government subscribers. Under the new rules, non-government subscribers can withdraw up to 80% of their accumulated funds exceeding ₹12 lakhs post-retirement, a notable increase from the previous 60% limit. For those with pension wealth of ₹8 lakhs or less, full withdrawal is permitted after 15 years of contributions or upon reaching 60 years of age. The revised guidelines also allow subscribers to remain invested until age 85 and stipulate that in the event of a subscriber's death before annuity purchase, the accumulated wealth will be transferred to nominees. Additionally, provisions for premature exit and withdrawal due to citizenship renunciation have been clarified, ensuring that at least 80% of the corpus is used for annuity in such cases.
Published: Dec 16 2025, 10 pmeznews.inThe Indian government is actively engaging with various stakeholders, including exporters and state governments, to address the impact of recent US tariff measures, Minister of State for Commerce Jitin Prasada stated in Lok Sabha. The US has imposed additional tariffs of 50%, including a 25% penalty on India's purchase of Russian oil, which took effect in August. In response, the Indian government is implementing a multi-faceted strategy to mitigate these effects, including pursuing a bilateral trade agreement with the US, introducing trade relief measures, and enhancing domestic demand through GST reforms. The newly launched Export Promotion Mission (EPM) aims to support sectors hit hardest by tariffs, such as textiles and marine products, by sustaining export orders and protecting jobs. Despite a decline in exports to the US in September and October, there was a rebound in November, and India remains optimistic about negotiating a trade deal to reduce tariffs.
Published: Dec 16 2025, 9 pmeznews.inIndia's electronic goods exports experienced a remarkable surge of 37.99% during the April to November 2025 period, reaching $31.10 billion, up from $22.53 billion the previous year, according to government data. The United States emerged as India's largest and fastest-growing market, with exports more than doubling to $13.87 billion, a 134.91% increase from $5.90 billion in the same timeframe. The US alone contributed nearly $8 billion to this growth, driven by strong demand for Indian electronics and telecom equipment. Other notable markets included China, where exports soared by 158.95%, and the United Arab Emirates, which saw a 54.46% rise to $2.93 billion. Additionally, exports to Hong Kong and Israel grew by 70.11% and 86.45%, respectively. This robust performance reflects enhanced domestic manufacturing capabilities and India's increasing integration into global supply chains, positioning electronics as a key component of the country's export growth strategy.
Published: Dec 16 2025, 9 pmeznews.inUnion Minister for Labour and Employment, Mansukh Mandaviya, emphasized the government's commitment to workers' welfare at the Labour & Employment Summit – 2025, where 16 Central trade unions united to address what they termed "misinformation" regarding the new Labour Codes. These codes, notified on November 21, aim to ensure equal rights and opportunities for women, guarantee minimum wages, and extend social security to over 400 million workers. Mandaviya highlighted the extensive consultations with trade unions during the drafting process, aimed at incorporating workers' concerns. He urged unions to actively engage in educating workers about the reforms' benefits. The summit, attended by various union leaders and dignitaries, precedes a planned nationwide protest by opposition-affiliated unions, set to discuss the Labour Codes further in a meeting on December 22. The Minister called for ongoing feedback from trade unions to enhance the implementation of these transformative reforms.
Published: Dec 16 2025, 8 pmeznews.inThe Grain Ethanol Manufacturers’ Association (GEMA) has called on the Indian government to increase the Ethanol Blending with Petrol (EBP) programme beyond the current 20% limit, citing significant unused distillery capacity and the need to boost domestic demand. GEMA's president, C K Jain, emphasized that the existing ethanol capacity, which stands at approximately 1,000 crore litres, was developed in response to a national mandate and should be fully utilized to maximize economic and environmental benefits. The association proposed measures such as accelerating the rollout of Flex-Fuel Vehicles (FFVs) and improving ethanol dispensing infrastructure, which could save India up to ₹2 lakh crore annually in foreign exchange. While GEMA argues that the current situation reflects strategic planning rather than speculative investment, some experts caution that the heavily regulated environment may have led distilleries to overcommit financially. The EBP programme was initially designed to evaluate various factors, including feedstock availability and rural impact.
Published: Dec 16 2025, 8 pm
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