From record-breaking moves in global commodity markets to boardroom shake-ups and policy tightening at home, the week gone by kept investors, policymakers and business leaders on edge.

Geopolitics, artificial intelligence and Donald Trump’s return to centre stage shaped headlines globally, while regulatory and corporate developments drove action closer home.

Silver Smashes $100, Precious Metals Shine

Silver prices crossed the $100-an-ounce mark for the first time ever in international markets, extending a sharp rally driven by geopolitical uncertainty and dollar weakness. The white metal is up over 40% this year and has surged more than 200% since Donald Trump’s return to the White House. Gold, too, hit a fresh record near $4,967 an ounce, inching closer to the psychologically important $5,000 level.

ALSO READ: Silver Prices Hit $100 For The First Time In International Markets

Davos 2026: AI Hype Meets Geopolitical Anxiety

The World Economic Forum’s Annual Summit wrapped up in Davos with artificial intelligence, geopolitics, and trade tensions dominating conversations. Over 3,000 global leaders gathered under the theme “Spirit of Dialogue,” but discussions were frequently shaped by tariff risks, US foreign policy signals, and President Donald Trump’s high-profile remarks in his first WEF appearance. Tech’s presence was bigger and louder than ever, underscoring AI’s central role in global economic debates.

ALSO READ: Davos 2026: AI Boom, Tariff Noise, To Donald Trump’s Gaza Peace Board — 10 Key Highlights From WEF

Deepinder Goyal Steps Down as Eternal CEO

Deepinder Goyal resigned as group CEO of Eternal Ltd., the parent company of Zomato and Blinkit, marking a major leadership transition. Albinder Dhindsa has taken over with immediate effect, while Goyal is set to remain on the board as vice chairman, subject to shareholder approval. Eternal was renamed from Zomato in March 2025 as the group streamlined its corporate structure.

ALSO READ: Deepinder Goyal Steps Down As Eternal Group CEO, Albinder Dhindsa To Succeed

Trump Sues JPMorgan Over ‘Debanking’ Claims

US President Donald Trump filed a $5 billion lawsuit against JPMorgan Chase and CEO Jamie Dimon, alleging the bank cut off services to him and his businesses for political reasons. JPMorgan has denied the allegations, saying it does not close accounts based on political or religious views. The case revives the broader debate around banks, political neutrality, and access to financial services.

ALSO READ: Trump Sues JPMorgan For $5 Billion Over Debanking Claims

Govt Tightens Toll Compliance With Vehicle Service Curbs

The Centre notified amendments to motor vehicle rules that block inter-state vehicle transfers, fitness certificate renewals, and national permits if highway toll dues remain unpaid. The move links unpaid electronic toll charges directly to vehicle-related services, aiming to curb toll evasion and strengthen compliance across national highways.

ALSO READ: Government To Block Vehicle Transfers, Fitness Renewal Pending Highway Toll Dues

Air India has cancelled all its flights to and from New York and Newark on Jan. 25 and 26 after a severe winter storm was forecast. It is expected to affect large parts of the US East Coast.

The airline said the storm, expected to bring heavy snowfall, will impact New York, New Jersey and adjoining regions from early Sunday morning (Jan. 25) till Monday (Jan. 26), disrupting flight operations. The warning comes as the region prepares for challenging weather conditions.

In a post on X, Air India said, “A severe winter storm with heavy snow is forecast for New York, New Jersey and adjoining areas in the US East Coast from early Sunday morning to Monday, which will have a significant impact on flight operations.”

Citing passenger and crew safety as the primary concern, the carrier added, “In view of the safety, well-being and convenience of our passengers and crew, all Air India flights to and from New York and Newark have been cancelled on 25 and 26 January.”

Air India also assured affected travellers that support teams were in place to help with rebooking and other assistance. “Our dedicated teams will extend all assistance to you if you are booked to fly with us on these dates,” the airline added.

Here’s the post:

#TravelAdvisory

A severe winter storm with heavy snow is forecast for New York, New Jersey and adjoining areas in the US East Coast from early Sunday morning to Monday, which will have a significant impact on flight operations.

In view of the safety, well-being and convenience…

— Air India (@airindia) January 24, 2026

Passengers scheduled to travel on the affected routes need to stay updated through official airline communication channels and check flight status before heading to the airport.

Heavy Snowfall Forecast Across Tri-State Area

Forecasts suggest widespread disruption across the US Northeast as the winter storm intensifies. According to NBC New York, large parts of the tri-state area, including New York City, Hudson Valley, most of New Jersey and parts of Connecticut, could receive between eight and 12 inches of snow.

The National Weather Service has issued a winter storm warning for New York City, Long Island, northern suburbs, parts of north-east New Jersey and southern Connecticut from early Sunday morning through Monday evening, CNN reported.

Storm To Affect Much Of The United States

The impact of the storm is expected to extend far beyond the Northeast. According to NBC News, the system is set to batter more than half of the US, bringing heavy snow, widespread ice accumulation and dangerously low temperatures.

The National Weather Service said in the south, including parts of Texas, Virginia and the Carolinas, mixed precipitation and significant ice build-up are expected.

Strong winds could push wind chill values well below zero, with temperatures dropping to as low as minus 50 degrees Fahrenheit in parts of the northern and central Plains. Forecasters warned that severe to catastrophic ice accumulation could bring down power lines and trees, leading to prolonged power outages, worsening cold exposure and making travel extremely dangerous.

India and the European Union (EU) may be nearing the finish line on a long-pending free trade agreement (FTA), with an announcement expected at the India-EU Summit in New Delhi on Tuesday, Jan. 27.

European Council President Antonio Luis Santos da Costa and European Commission President Ursula von der Leyen will be the chief guests at the Republic Day celebrations on Jan. 26. Alongside the ceremonial events, both leaders are expected to focus on pushing forward free trade talks with India.

Once signed, the agreement will need ratification by the European Parliament, a process that could take at least a year. 

According to Reuters, the deal could boost bilateral trade and provide relief to Indian exporters, particularly in sectors such as textiles and jewellery, which have been hit by 50% US tariffs since August 2025.

As India and the EU move closer to finalising what Brussels has described as the “mother of all trade deals,” even Norway has expressed strong support for deeper economic ties with New Delhi, even though it remains outside the India-EU FTA framework.

India-EU Deal: What’s The Focus?

The focus of the India-EU trade deal is to create a fair and balanced partnership that benefits both sides. Ursula von der Leyen recently called it a “historic trade agreement” at the World Economic Forum in Davos, saying, “We are choosing fair trade over tariffs. Partnership over isolation. Sustainability over exploitation.” 

The deal aims to reduce tariffs on European goods like cars and wine while opening wider markets in India for electronics, textiles and chemicals, according to Reuters. It also reflects efforts by both sides to hedge against uncertainties in US trade policies.

Lower car import taxes would help European automakers such as Volkswagen and Renault expand in India, where high tariffs have so far made imported models expensive despite the country being the world’s third-largest car market.

India-EU Deal: Why It Matters For India

The proposed India-EU free trade agreement is important for India as it would be the country’s ninth trade deal in four years. It shows New Delhi’s effort to secure overseas markets at a time when global trade is becoming more restrictive. 

According to Reuters, the deal would help Indian companies gain better access to the EU, which is looking to diversify supply chains and reduce its dependence on China, while also tapping into India’s $4.2 trillion economy.

The EU is already one of India’s biggest trading partners, along with the US and China. Trade in goods and services between India and the 27-nation bloc crossed $190 billion in 2024-25. In the same period, India reportedly exported about $76 billion worth of goods and $30 billion in services to the EU.

Though average EU tariffs on Indian goods are low at around 3.8%, sectors such as textiles and garments face higher duties of about 10%, according to the Global Trade Research Initiative, reported Reuters. These labour-intensive sectors are likely to benefit the most from lower tariffs under the agreement.

The deal could also help Indian exporters recover after the EU started withdrawing tariff benefits under the Generalised System of Preferences in 2023. Products such as garments, pharmaceuticals and machinery were affected. An FTA could ease this pressure.

Apart from goods, India is seeking easier movement for its professionals and more opportunities for IT and services exports. This makes the agreement important not only for trade, but also for jobs and growth in the services sector.

India-EU Deal: How Long Has It Been In The Works?

Talks on an India-EU free trade agreement began in 2007, when both sides first proposed the deal under the name Broad-Based Trade and Investment Agreement (BTIA).

Many rounds of negotiations took place between 2007 and 2013, but discussions stalled due to differences over issues such as market access, tariffs, intellectual property rights and labour and environmental standards.

After a pause, negotiations were revived in 2022. The talks gained urgency as global trade conditions changed, with the US adopting more protectionist policies under US President Donald Trump’s second term. This pushed many countries, including India and the EU, to look for alternative markets and stronger trade partnerships.

Momentum increased further after European Commission President Ursula von der Leyen’s visit to India in February 2025. As per reports, commerce secretary Rajesh Agarwal said last week that India and the EU have made strong progress, with 20 of the 24 chapters already agreed upon.

India-EU Deal: Significance Amid US Tariff Pressure

For India, which has been hit hard by steep US tariffs, the EU trade deal could provide a much-needed boost.

Since the US imposed 50% tariffs on Indian goods in August 2025, India has been seeking alternative markets and signing trade agreements with other countries. India hopes that the European Commission president’s visit to New Delhi from Jan. 25 to 27 will result in a trade deal announcement. Such an agreement would help India increase exports and offset the recent drop in shipments to the US. 

According to experts cited by CNBC, the deal gives India an alternative foothold in the West and restores some bargaining power to negotiate with the US.

Also Read: EU, India To Strengthen Ties With New Security And Defence Partnership

Operators carry out reactor startup operations in the central control room of Unit 6 at Tokyo Electric Power Company (TEPCO)’s Kashiwazaki Kariwa nuclear power plant in Kashiwazaki, Niigata prefecture, Japan on January 21, 2026. Photo credit: Kyodo Via Reuters

Aerial photo shows the Kashiwazaki-Kariwa plant in Kashiwazaki, northern Japan. File
| Photo Credit: AP

The 400-hectare Kashiwazaki-Kariwa plant on the Sea of Japan coast facing the Korean peninsula would be the first restart for Fukushima operator Tepco since the disaster. File
| Photo Credit: Reuters

As the year concluded, Prime Minister Narendra Modi signed it off with a historic visit to Kuwait, the first visit by an Indian Prime Minister to the country in 43 years. He was awarded ‘The Order of Mubarak Al Kabeer’ by the Amir of Kuwait, Sheikh Meshal Al-Ahmad Al-Jaber Al Sabah, which he accepted on behalf of 1.4 billion Indians. The two nations elevated their ties to a ‘strategic partnership’ with a focus on diverse areas including politics, trade, investments, energy, defense, security, health, education technology, cultural, and people-to-people ties. This visit further reinforced India’s substantive outreach to the Middle East where the Modi government has been to fundamentally reconfigure both India’s presence and engagements. At a time when the Middle East is riven with various fault lines and sits on the precipice of a region-wide war, New Delhi’s ability to maintain close ties with all the key stakeholders – the Gulf Arab states, Israel and Iran – speaks volumes about India’s diplomatic success.

This year also saw India and China finally managing to get out of the logjam ushered in by the 2020 Galwan crisis and China’s aggression. It has been a significant diplomatic victory for New Delhi to get Beijing to acknowledge that it was because of Chinese actions that the relationship got derailed. Since 2020, India’s position has been clear and categorical, that unless the status quo ante is restored along the LAC, there is no likelihood of the bilateral ties going back to normal. Where the Indian military continued to hold the line along the border, Indian diplomacy continued to stick to the nation’s red lines, which ultimately led China to reorient its posture.

In October, China and India reached an agreement on patrolling a stretch of their long-disputed shared border. The deal brought an end, for the time being, to a four-year standoff in the high mountains of the Himalayas that had severely strained ties between the two countries. It also allowed Indian Prime Minister Narendra Modi and Chinese President Xi Jinping to meet in Russia and hold talks for the first time in five years. In 2020, a bloody confrontation in the Galwan Valley left dozens of soldiers dead and led to the suspension of diplomatic ties to bilateral relations between the two Asian giants entering into a state of deep freeze. The Indian public fumed at the Chinese aggression, and Modi’s government cancelled direct flights between the countries and banned the social media app TikTok, among other measures meant to punish China. There is now a possibility of a reset and a return to normal ties.

But China and India have no desirable “normal” status quo to return to. Challenges abound in the bilateral relationship, and China’s ambitions continue to circumscribe India’s ability to act at the regional and global levels. Many flash points remain along the border and could be reactivated at any time by Xi’s aggressive regime. Although Modi has tried harder than his predecessors to hold a strong line against Chinese expansionism, India’s economy remains hugely dependent on China. Even as India’s exports to China have dropped somewhat in the last five years, its imports from China have ballooned. It is this challenge of dependence on the Chinese economy that India will have to manage effectively if it wants the present trend in ties to continue.

The two powers that are going to play a pivotal role in helping India manage China are the US and Russia. India has been effective in cultivating partnerships with both even as they don’t see eye to eye with each other, especially since the Russian invasion of Ukraine. This year saw India-US ties continuing to maintain an upward trajectory despite differences over developments in India’s neighbourhood and allegations of Indian security agents being involved in an attempted assassination plot against a Sikh separatist leader. With the election of Donald Trump to the White House, it is expected that convergence of mutual interests will continue to drive the trajectory of ties.

With Russia, the relationship has been galvanised with Modi making Moscow his first port of call after his third consecutive win in the parliamentary elections. And India’s posture of maintaining equidistance between Russia and Ukraine and calling for political negotiations has paid dividends as the West and Russia get ready to conclude the active phase of the war under a Trump Administration that is not keen at all on prolonging the war. If Trump manages to end the Ukraine war and by doing so manages to drive a wedge between China and Russia, New Delhi will face a much more favourable external environment.

It is in the neighbourhood that India got perhaps its biggest shock of the year when Sheikh Hasina had to leave Bangladesh in August after weeks of student-led protests that were met with violence. It was indeed expected that after Hasina, there would be turbulence in Delhi-Dhaka ties given the partnership that India had crafted with Hasina. The anti-India rhetoric emanating from key stakeholders in the interim administration has vitiated the atmosphere for productive governmental engagement even as incidents of violence against Hindus as well as attacks on temples in the last few months have jeopardised the strong societal connect between the two nations. India’s task is cut out as it seeks to preserve its ties with its close ally in South Asia. If India-Bangladesh ties saw instability, then India’s ties with other regional players like the Maldives and Sri Lanka stabilised.

This year, India’s global profile grew as New Delhi sought to amplify both its own voice as well as the voice of the Global South in the international order. For most nations, India today is an important partner to be courted and for India, the world is truly becoming its oyster. New Delhi will have to continue to work on enhancing its global profile at a time when there are enormous opportunities to be tapped into.

(Harsh V Pant is Vice President for Studies at Observer Research Foundation, New Delhi.)

Disclaimer: These are the personal opinions of the author

As the year concluded, Prime Minister Narendra Modi signed it off with a historic visit to Kuwait, the first visit by an Indian Prime Minister to the country in 43 years. He was awarded ‘The Order of Mubarak Al Kabeer’ by the Amir of Kuwait, Sheikh Meshal Al-Ahmad Al-Jaber Al Sabah, which he accepted on behalf of 1.4 billion Indians. The two nations elevated their ties to a ‘strategic partnership’ with a focus on diverse areas including politics, trade, investments, energy, defense, security, health, education technology, cultural, and people-to-people ties. This visit further reinforced India’s substantive outreach to the Middle East where the Modi government has been to fundamentally reconfigure both India’s presence and engagements. At a time when the Middle East is riven with various fault lines and sits on the precipice of a region-wide war, New Delhi’s ability to maintain close ties with all the key stakeholders – the Gulf Arab states, Israel and Iran – speaks volumes about India’s diplomatic success.

This year also saw India and China finally managing to get out of the logjam ushered in by the 2020 Galwan crisis and China’s aggression. It has been a significant diplomatic victory for New Delhi to get Beijing to acknowledge that it was because of Chinese actions that the relationship got derailed. Since 2020, India’s position has been clear and categorical, that unless the status quo ante is restored along the LAC, there is no likelihood of the bilateral ties going back to normal. Where the Indian military continued to hold the line along the border, Indian diplomacy continued to stick to the nation’s red lines, which ultimately led China to reorient its posture.

In October, China and India reached an agreement on patrolling a stretch of their long-disputed shared border. The deal brought an end, for the time being, to a four-year standoff in the high mountains of the Himalayas that had severely strained ties between the two countries. It also allowed Indian Prime Minister Narendra Modi and Chinese President Xi Jinping to meet in Russia and hold talks for the first time in five years. In 2020, a bloody confrontation in the Galwan Valley left dozens of soldiers dead and led to the suspension of diplomatic ties to bilateral relations between the two Asian giants entering into a state of deep freeze. The Indian public fumed at the Chinese aggression, and Modi’s government cancelled direct flights between the countries and banned the social media app TikTok, among other measures meant to punish China. There is now a possibility of a reset and a return to normal ties.

But China and India have no desirable “normal” status quo to return to. Challenges abound in the bilateral relationship, and China’s ambitions continue to circumscribe India’s ability to act at the regional and global levels. Many flash points remain along the border and could be reactivated at any time by Xi’s aggressive regime. Although Modi has tried harder than his predecessors to hold a strong line against Chinese expansionism, India’s economy remains hugely dependent on China. Even as India’s exports to China have dropped somewhat in the last five years, its imports from China have ballooned. It is this challenge of dependence on the Chinese economy that India will have to manage effectively if it wants the present trend in ties to continue.

The two powers that are going to play a pivotal role in helping India manage China are the US and Russia. India has been effective in cultivating partnerships with both even as they don’t see eye to eye with each other, especially since the Russian invasion of Ukraine. This year saw India-US ties continuing to maintain an upward trajectory despite differences over developments in India’s neighbourhood and allegations of Indian security agents being involved in an attempted assassination plot against a Sikh separatist leader. With the election of Donald Trump to the White House, it is expected that convergence of mutual interests will continue to drive the trajectory of ties.

With Russia, the relationship has been galvanised with Modi making Moscow his first port of call after his third consecutive win in the parliamentary elections. And India’s posture of maintaining equidistance between Russia and Ukraine and calling for political negotiations has paid dividends as the West and Russia get ready to conclude the active phase of the war under a Trump Administration that is not keen at all on prolonging the war. If Trump manages to end the Ukraine war and by doing so manages to drive a wedge between China and Russia, New Delhi will face a much more favourable external environment.

It is in the neighbourhood that India got perhaps its biggest shock of the year when Sheikh Hasina had to leave Bangladesh in August after weeks of student-led protests that were met with violence. It was indeed expected that after Hasina, there would be turbulence in Delhi-Dhaka ties given the partnership that India had crafted with Hasina. The anti-India rhetoric emanating from key stakeholders in the interim administration has vitiated the atmosphere for productive governmental engagement even as incidents of violence against Hindus as well as attacks on temples in the last few months have jeopardised the strong societal connect between the two nations. India’s task is cut out as it seeks to preserve its ties with its close ally in South Asia. If India-Bangladesh ties saw instability, then India’s ties with other regional players like the Maldives and Sri Lanka stabilised.

This year, India’s global profile grew as New Delhi sought to amplify both its own voice as well as the voice of the Global South in the international order. For most nations, India today is an important partner to be courted and for India, the world is truly becoming its oyster. New Delhi will have to continue to work on enhancing its global profile at a time when there are enormous opportunities to be tapped into.

(Harsh V Pant is Vice President for Studies at Observer Research Foundation, New Delhi.)

Disclaimer: These are the personal opinions of the author

Sydney has been named the world’s best city in a survey conducted by Conde Nast Traveller. The top-10 global cities rankings are part of the publication’s annual Readers’ Choice Awards for 2024, which launched on October 1 in the UK. Sydney, which ranked no. 1 with a score of 92.26, was praised by the Conde Nast Traveller UK for its “unique, indoor-outdoor way of life”. Sydney beat out tourism hotspots spanning five continents, including Valencia in Spain (92.78), Singapore (92.47), Hong Kong (91.72) and Stockholm, Sweden (91.11), which ranked second to fifth place respectively. 

According to the New York Post, Sydney was also named the world’s second-most friendly city, with a score of 93.85, behind Singapore, with 94.84 points, while Sydney hotel The Fullerton was crowned the best hotel in Australasia.

Conde Nast Traveler US also unveiled its Readers’ Choice Awards this week, with Sydney placing third in the US awards list of the best cities in the world, describing it as “an ideal getaway no matter the season”. Australian hotel Ritz-Carlton Melbourne was named the best hotel in Australia and New Zealand for 2024.

The UK and US Readers’ Choice Awards winners were chosen based on the votes of more than half a million survey respondents, the Post reported. 

“If you’ve experienced a snippet of life Down Under, you’ve probably fallen hard for the unique, indoor-outdoor way of life the Aussies embrace so well,” Traveller said about Sydney.

Moreover, the publication also had readers vote on their favourite airlines with Air New Zealand coming first, followed by Singapore Airlines, Qatar Airways, Emirates and British Airways.

Also Read | US Couple Takes 31 Trips To Disney World After Stealing Over Rs 4 Crore From Government

Meanwhile, in September, Sydney was also named Oceania’s Leading City Destination in the World Travel Awards 2024.

With results like that, you’d think Sydney was in the midst of an international tourism boom. However, according to the Post, the reality is somewhat different. According to the most recent International Visitor Survey data from Tourism Research Australia, Sydney welcomed only 3,446,000 foreign visitors in June, a figure still 16 per cent below the same period in 2019.

But John O’Sullivan, chief executive of Experience Co and former Tourism Australia managing director, told the Sydney Morning Herald, that the stellar awards results could go a long way to putting Sydney on the radar of high-value international travellers – that is, those likely to spend more, stay longer and travel further within Australia.

Mark Zuckerberg became the world’s second-richest person for the first time Thursday, jumping ahead of Jeff Bezos as shares of Meta Platforms Inc. continue to climb. 

Zuckerberg’s bet on the metaverse – which initially looked like a huge bust – has paid off in recent months, pushing his net worth to a high-water mark of $206.2 billion, according to the Bloomberg Billionaires Index. That puts him $1.1 billion ahead of Amazon.com Inc.’s Bezos and almost $50 billion behind Tesla Inc.’s Elon Musk.

Meta shares have risen 23% since reporting better-than-expected sales in the second quarter and touting its push into the type of large language models that power AI chatbots. The stock closed Thursday at an all-time high of $582.77.

Meta has spent heavily on data centres and computing power as Zuckerberg works to build a leading position in the industry-wide AI race. The company has also moved ahead with other long-term projects, including its Orion augmented reality glasses, which the company introduced last month.

Zuckerberg, who owns a 13% stake in the Menlo Park, California-based company, has seen his fortune grow $78 billion so far this year, the most of any of the world’s 500 richest people tracked by the Bloomberg index.

The 40-year-old co-founder and chief executive officer has gained four spots this year on the wealth index.

(Except for the headline, this story has not been edited by NDTV staff and is published from a syndicated feed.)