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India-Russia Oil, US Tariffs and a Diplomatic Opening

by theparliamentnews.com 24 January 2026

written by theparliamentnews.com

The United States has signalled a possible diplomatic pathway to remove the additional 25% tariffs imposed on India, following a sharp decline in Indian refinery purchases of Russian oil. The indication came from U.S. Treasury Secretary Scott Bessent during the World Economic Forum in Davos.

Speaking to Politico, Bessent said India’s imports of Russian crude by its refineries have “collapsed” after Washington imposed the tariff, calling the outcome a “huge success” for U.S. policy. While the tariffs remain in place for now, he suggested that conditions exist under which they could be lifted.

“We put a 25 per cent tariff on India for buying Russian oil, and the Indian purchases by their refineries of Russian oil have collapsed. So that is a success. The tariffs are still on. I would imagine there is a path to take them off,” Bessent said.

The remarks come amid heightened geopolitical tension over energy security, sanctions on Russia, and global trade realignments. India has repeatedly defended its energy strategy, stressing the need to ensure affordable fuel for its population of over 1.4 billion people.

New Delhi has also acknowledged a proposed bipartisan bill in the U.S. Congress that could impose duties of up to 500% on countries purchasing Russian oil. Reacting to the development, Ministry of External Affairs spokesperson Randhir Jaiswal said India is closely monitoring the situation.

Bessent further criticised European nations for purchasing refined petroleum products from India that originate from discounted Russian crude, accusing them of indirectly financing the war in Ukraine. He described Europe’s stance as “ironic,” arguing that while the EU avoided similar tariffs on India, it continues to buy refined products made from Russian oil.

The comments come as India and the European Union prepare for the 16th India-EU Summit in New Delhi, where a comprehensive strategic agenda and a long-pending Free Trade Agreement are expected to be finalised. European Commission President Ursula von der Leyen has described the FTA as “the mother of all deals,” potentially creating a market of nearly 2 billion people and covering about a quarter of global GDP.

As global trade faces disruption due to Washington’s tariff policies, India continues to balance strategic autonomy, energy security, and evolving partnerships with both the U.S. and the EU.

Short Summary

U.S. Treasury Secretary Scott Bessent has hinted at a possible removal of the 25% tariffs on India, saying Indian refinery purchases of Russian oil have sharply declined, calling the tariff policy a “huge success” while leaving room for diplomacy.

24 January 2026 0 comment

Blog Business Education & Tech Featured technology

ChatGPT’s Wealth Advice Sounds Surprisingly Old-School

by theparliamentnews.com 24 January 2026

written by theparliamentnews.com

ChatGPT delivered a surprisingly grounded response when asked what a “normal person” should do to become financially free echoing advice long championed by seasoned investing experts.

The moment unfolded on The Diary of a CEO podcast, where host Steven Bartlett posed a deliberately simple question to the AI chatbot. Bartlett, who earns $50,000 a year in the hypothetical scenario, asked ChatGPT to give a one-sentence answer on achieving financial freedom, drawing on “all the wisdom in the world.”

Before revealing the AI’s response, Bartlett turned to guest JL Collins author of The Simple Path to Wealth and a leading voice in passive investing. Collins’ advice was succinct: avoid debt, live below your means, and invest the surplus.

ChatGPT’s answer closely mirrored that philosophy. The chatbot recommended consistently saving and investing in low-cost, broad-based index funds such as the S&P 500, while living below one’s means and allowing compounding to work over time.

Bartlett followed up with another broad question: “How do I earn more?” Once again, the AI’s advice aligned with traditional thinking suggesting the development of high-demand skills, seeking career advancement, exploring side hustles, or investing in assets that generate passive income like real estate or dividends.

Collins noted that the response closely resembled principles from his own work, joking that ChatGPT may have “mined his book.” However, the conversation also turned toward the future of work. Collins observed that skills like programming, once considered essential, may no longer guarantee security in the age of artificial intelligence.

That concern was echoed by OpenAI CEO Sam Altman, who has warned that AI-driven automation could significantly disrupt employment. Altman has said that many customer support roles may be replaced by AI, and that roughly half of all jobs historically undergo major change every 75 years a process he believes may now happen much faster.

The exchange highlights a striking paradox: while AI is expected to reshape careers and disrupt labour markets, its financial advice at least for now remains firmly rooted in old-school discipline rather than get-rich-quick promises.

Short Summary

ChatGPT’s advice on becoming financially free surprised listeners by closely matching the guidance of veteran investor JL Collins emphasising saving, low-cost index investing, skill development and long-term compounding over flashy shortcuts.

24 January 2026 0 comment

Blog Education & Tech Featured technology

Explosive Growth, No Profit: Inside OpenAI’s Ad Gamble

by theparliamentnews.com 23 January 2026

written by theparliamentnews.com

OpenAI’s reported move toward advertising including testing ads within ChatGPT responses and preparing a Super Bowl LX commercial signals a major strategic pivot for the AI giant. Once framed as one of humanity’s most transformative inventions, ChatGPT is now confronting a far more prosaic challenge: how to survive financially.

On the surface, OpenAI’s numbers appear extraordinary. Recurring revenue reportedly reached $20 billion in 2025, up tenfold in just two years. ChatGPT claims around 800 million active users, with over a million businesses paying for access. By conventional startup metrics, the company looks like a runaway success.

Yet profitability tells a very different story. According to Deutsche Bank estimates, OpenAI could accumulate as much as $143 billion in negative cumulative free cash flow between 2024 and 2029. With only about $17 billion in cash reserves and infrastructure commitments reportedly running into the trillions, analysts argue the company faces an unprecedented scale of losses one that dwarfs even Amazon’s famously unprofitable early years.

Unlike Amazon, however, OpenAI lacks a diversified, cash-generating core business to subsidise its long-term bets. That contrast is clearest when compared with Google. Alphabet’s AI investments sit atop hugely profitable pillars Search advertising, YouTube, Google Cloud and Workspace all of which generate stable cash flow. Google also owns much of its infrastructure and chip supply, while OpenAI remains dependent on external providers for computing power.

This structural gap has made OpenAI’s path to profitability increasingly uncertain. The company would reportedly need to grow annual revenue to around $200 billion within four years to break even a target that appears implausible under existing growth levers. Market expansion adds computing costs rather than lowering them. Price hikes are constrained, with only about 5 per cent of users currently paying for subscriptions. Product diversification, including video generation, browsers and hardware, further raises capital and R&D expenditure.

Against this backdrop, advertising has emerged as a reluctant fallback. OpenAI has begun experimenting with ads in free and low-cost tiers, despite CEO Sam Altman previously calling advertising a “last resort.” Analysts estimate ads could bring in around $25 billion annually by 2030 a significant sum, but far short of what would be required to offset projected losses.

The planned Super Bowl commercial may reinforce OpenAI’s ambition and cultural relevance, but it also underlines a deeper reality: innovation alone is no longer enough. Without a clear and credible route to sustainable profit, OpenAI’s bold vision risks colliding with hard economic limits. In the race to define the future of artificial intelligence, the challenge now is not invention it is survival.

Short Summary

OpenAI’s move to introduce advertising in ChatGPT reflects mounting financial pressure despite explosive revenue growth. With massive infrastructure costs, widening losses and limited pricing power, analysts view ads as a last-resort revenue stream that may still fall short of ensuring long-term profitability.

23 January 2026 0 comment

Blog Education & Tech Featured India World

A potential EU–India trade deal with global impact now down to the summit.

by theparliamentnews.com 23 January 2026

written by theparliamentnews.com

The European Union is on the verge of concluding a landmark free trade agreement (FTA) with India, European Commission President Ursula von der Leyen announced on Tuesday (January 20, 2026), calling it “the mother of all deals” that could create a market encompassing nearly two billion people and about a quarter of global GDP.

Speaking at the World Economic Forum Annual Meeting in Davos, von der Leyen said negotiations are in their final stages and that Europe stands to gain a first-mover advantage with one of the world’s fastest-growing economies. “Right after Davos, I will travel to India. There is still work to do, but we are on the cusp of a historic trade agreement,” she said.

European Council President Antonio Costa and von der Leyen will visit India from January 25 to 27 to attend the Republic Day celebrations as chief guests and hold summit talks with Prime Minister Narendra Modi. The two sides are expected to formally announce the conclusion of FTA negotiations at the India-EU summit on January 27.

India is currently the EU’s largest trading partner, with bilateral trade in goods touching $135 billion in FY2023–24. The proposed agreement is expected to significantly boost trade flows, deepen supply-chain integration and open new opportunities across manufacturing, services, technology and green energy sectors.

Beyond trade, the summit is also likely to deliver major strategic outcomes. India and the EU are expected to unveil a defence and security framework, along with a comprehensive strategic vision for the 2026–2030 period. A proposed Security and Defence Partnership (SDP) would enhance defence interoperability and enable Indian firms to participate in the EU’s SAFE programme a €150 billion financial instrument aimed at strengthening European defence readiness.

Negotiations for a Security of Information Agreement (SOIA) are also expected to be launched, which would facilitate deeper industrial defence cooperation. The developments come amid global trade disruptions driven by Washington’s evolving tariff policies, which have affected both India and the 27-nation EU bloc.

India and the EU have been strategic partners since 2004. FTA talks were first launched in 2007 but were suspended in 2013 due to differences in ambition, before being relaunched in June 2022. If concluded, the deal would mark one of the most significant trade agreements for both sides in recent decades.

📌 Short Summary

The European Union is close to finalising a landmark free trade agreement with India, described by Ursula von der Leyen as “the mother of all deals.” Expected to be announced during the India-EU summit on January 27, the agreement aims to deepen trade, defence and strategic cooperation at a time of global trade uncertainty.

23 January 2026 0 comment

Blog Featured India

As Welfare Expands, Tobacco Tightens Its Grip on Poorer India

by theparliamentnews.com 22 January 2026

written by theparliamentnews.com

Article

India’s latest Household Consumption Expenditure Survey (HCES) 2023–24 exposes a deeply uncomfortable reality: tobacco consumption is rising rapidly across the country, even as the state expands publicly funded healthcare. The surge is most pronounced among poorer households, creating a dangerous feedback loop of preventable disease and rising fiscal burden on welfare systems.

Adjusted for inflation, per capita tobacco spending rose 58% in rural India and 77% in urban areas over the past decade. The number of tobacco-consuming households has surged dramatically, with nearly 69% of rural and 46% of urban households now consuming tobacco products. Gutkha has emerged as the dominant driver, especially in rural India, where its consumption has increased nearly sixfold.

The impact is most severe among the poor. Over 70% of rural households in the bottom 40% income bracket consume tobacco, spending a higher share of their limited resources on addictive products than wealthier households. In several states, including Uttar Pradesh, Madhya Pradesh and Bihar, prevalence exceeds 85%.

This trend has serious implications for public health and public finances. Tobacco-related illnesses contribute to nearly 13 lakh deaths annually, while non-communicable diseases now account for 63% of all deaths in India. As schemes like Ayushman Bharat expand coverage and reduce out-of-pocket expenses, the long-term cost of tobacco-induced disease increasingly shifts to the state.

Despite this, tobacco contributes only 2.4% of gross tax revenue, and regulatory enforcement remains weak. Surrogate advertising and celebrity endorsements continue largely unchecked. The HCES data signals a clear policy alarm: without stronger taxation, regulation and prevention, India risks undermining its own welfare and human capital goals.

Short Summary

The HCES 2023–24 reveals a troubling paradox in India’s welfare trajectory: while publicly funded healthcare is expanding, tobacco consumption especially gutkha is rising sharply, particularly among poorer households. Tobacco use has spread widely across rural and urban India, imposing severe health risks and threatening the fiscal sustainability of welfare schemes like Ayushman Bharat. Without stronger taxation, regulation, and public health intervention, the state risks subsidising preventable disease while undermining human capital development.

22 January 2026 0 comment

Blog Education & Tech Featured Science technology World

Like Wi-Fi for Energy: Finnish Researchers Explore Wireless Electricity

by theparliamentnews.com 22 January 2026

written by theparliamentnews.com

Finland is steadily advancing research into wireless electricity transmission, a technology that aims to send power through the air without traditional cables or plugs conceptually similar to how Wi-Fi transmits data.

In controlled experiments, engineers have demonstrated that electricity can be transmitted wirelessly using highly controlled electromagnetic fields and resonant coupling techniques. While still far from large-scale commercial use, these experiments mark tangible progress in a field that could one day reshape how certain devices are powered.

Finnish researchers, including teams at Aalto University, have contributed significantly to both the theoretical and experimental foundations of wireless power transfer. Earlier studies showed that magnetic loop antennas can transfer electricity at relatively high efficiency over short distances, offering insights into how energy losses can be reduced and coupling optimised.

More recent demonstrations widely shared across global technology platforms have shown Finnish teams successfully powering small electronic devices through the air, indicating that the technology has moved beyond early laboratory proof-of-concept stages toward more practical experimentation.

However, experts caution that current wireless power systems work best only at short ranges and in controlled environments. Performance drops sharply with distance, and systems require precisely tuned electromagnetic fields and specialised receiver hardware. As a result, present-day applications are largely limited to charging small electronics, sensors, robotics, and potentially medical implants.

Research at Aalto University has also explored how wireless power interacts with real-world conditions, including how human tissue affects electromagnetic charging, a factor that could be crucial for biomedical uses such as charging implants without surgical intervention.

Despite growing interest, researchers emphasise that wireless electricity is not a replacement for conventional power grids. Wired infrastructure remains essential for high-power and long-distance transmission. Analysts note that widespread adoption for homes, vehicles, or cities would require years of further research, safety testing, efficiency improvements, and regulatory approval.

For now, Finland’s work highlights genuine scientific progress and reflects a broader global push to develop wireless power technologies that could complement existing energy systems and enable new use cases where wires are impractical.

Short Summary

Finnish researchers are making steady progress in wireless electricity transmission, demonstrating short-range power transfer through controlled electromagnetic fields, though large-scale use remains years away.

22 January 2026 0 comment

Blog Business Education & Tech Featured India technology

Apple Pay Expected to Enter India Market in Coming Months

by theparliamentnews.com 22 January 2026

written by theparliamentnews.com

Apple Pay is reportedly preparing for its long-awaited entry into the Indian market, with the digital payments service expected to launch by the end of 2026, according to a report by Business Standard citing unnamed sources.

The service, which is currently available in 89 global markets, is said to be awaiting regulatory approval in India. Apple is reportedly in discussions with banks, regulators, and card networks to finalise the rollout framework.

In its initial phase, Apple Pay in India is expected to focus on card-based contactless payments rather than the Unified Payments Interface (UPI). The report notes that UPI integration may be introduced later due to more complex regulatory requirements. Apple is also said to be negotiating fee structures with card issuers and is unlikely to seek third-party application provider (TPAP) approval for UPI at the outset.

Once launched, Apple Pay is expected to support Tap to Pay on iPhone, allowing users to make NFC-based contactless payments at compatible point-of-sale terminals. The service can be used via iPhone and Apple Watch at retail stores, restaurants, fuel stations, and other locations displaying contactless payment symbols. It also supports in-app and online payments where Apple Pay is enabled.

The entry of Apple Pay is expected to intensify competition in India’s digital payments ecosystem. Apple’s rival Samsung already offers Samsung Wallet in the country, which supports contactless payments on compatible devices.

Globally, Apple Pay is supported by over 11,000 banks and network partners, including more than 20 local payment networks, according to Apple. If launched, Apple Pay would add another major international player to India’s rapidly evolving digital payments landscape.

Short Summary

Apple Pay is reportedly set to launch in India by the end of 2026, pending regulatory approval. The initial rollout is expected to focus on card-based contactless payments, with UPI integration likely at a later stage.

22 January 2026 0 comment

Blog Business Education & Tech Featured

Trump’s Greenland Comments Shift Focus at World Economic Forum

by theparliamentnews.com 21 January 2026

written by theparliamentnews.com

Trump Revives Greenland Proposal at Davos, Draws Firm European Response
Article

Davos, Switzerland | January 21, 2026:
US President Donald Trump reignited controversy at the World Economic Forum (WEF) 2026 after reiterating his view that the United States should gain control of Greenland, prompting strong responses from European leaders and adding to existing transatlantic tensions.

Speaking during his address at Davos, Trump said the United States would not use force to acquire the Arctic territory but maintained that Greenland was strategically important for US national security and global influence in the Arctic. Greenland is an autonomous territory within the Kingdom of Denmark.

Trump’s remarks were closely watched by world leaders attending the summit, which is traditionally focused on global economic cooperation, trade, and climate policy.

European Leaders Reject Proposal

European officials responded firmly, reiterating that decisions regarding Greenland’s future rest with Denmark and the people of Greenland.

UK Prime Minister Sir Keir Starmer said Britain would not compromise on issues of sovereignty, emphasising respect for international law and self-determination. European Commission President Ursula von der Leyen called for greater European strategic autonomy, particularly in light of rising geopolitical pressure and potential trade measures.

The comments underscored growing diplomatic strains between the United States and its European allies.

Tariff Threats Add to Tensions

Alongside his Greenland remarks, Trump again raised the prospect of imposing 10 per cent tariffs on imports from European countries opposing US plans, with the rate potentially rising to 25 per cent if negotiations do not progress.

The tariff threat has raised concerns among European trade officials, though UK Finance Minister Rachel Reeves said existing economic arrangements between London and Washington were expected to remain stable despite political differences.

Calls for Dialogue

Amid the escalating rhetoric, US House Speaker Mike Johnson, addressing lawmakers in the UK Parliament, urged restraint and dialogue, calling for continued cooperation between the United States and its allies.

Broader Implications

Trump’s remarks shifted attention at Davos from economic collaboration to geopolitical divisions, raising questions about the future of:

NATO unity

Transatlantic trade relations

Arctic governance and sovereignty

Greenland’s strategic location, mineral resources, and role in emerging Arctic shipping routes have increasingly placed it at the centre of global geopolitical discussions.

World leaders are now watching closely to see whether the dispute moves toward negotiation or further diplomatic escalation.

Short Summary

Trump’s remarks were closely watched by world leaders attending the summit, which is traditionally focused on global economic cooperation, trade, and climate policy.

European Leaders Reject Proposal

European officials responded firmly, reiterating that decisions regarding Greenland’s future rest with Denmark and the people of Greenland.

The comments underscored growing diplomatic strains between the United States and its European allies.

Tariff Threats Add to Tensions

Calls for Dialogue

Broader Implications

Trump’s remarks shifted attention at Davos from economic collaboration to geopolitical divisions, raising questions about the future of:

NATO unity

Transatlantic trade relations

Arctic governance and sovereignty

Greenland’s strategic location, mineral resources, and role in emerging Arctic shipping routes have increasingly placed it at the centre of global geopolitical discussions.

World leaders are now watching closely to see whether the dispute moves toward negotiation or further diplomatic escalation.

Short Summary

US President Donald Trump renewed calls for US control of Greenland during his Davos address, prompting firm pushback from European leaders. The remarks, combined with renewed tariff threats, have heightened diplomatic tensions between the United States and its European allies.Davos, Switzerland | January 21, 2026:
US President Donald Trump reignited controversy at the World Economic Forum (WEF) 2026 after reiterating his view that the United States should gain control of Greenland, prompting strong responses from European leaders and adding to existing transatlantic tensions.

Trump’s remarks were closely watched by world leaders attending the summit, which is traditionally focused on global economic cooperation, trade, and climate policy.

European Leaders Reject Proposal

European officials responded firmly, reiterating that decisions regarding Greenland’s future rest with Denmark and the people of Greenland.

The comments underscored growing diplomatic strains between the United States and its European allies.

Tariff Threats Add to Tensions

Calls for Dialogue

Broader Implications

Trump’s remarks shifted attention at Davos from economic collaboration to geopolitical divisions, raising questions about the future of:

NATO unity

Transatlantic trade relations

Arctic governance and sovereignty

Greenland’s strategic location, mineral resources, and role in emerging Arctic shipping routes have increasingly placed it at the centre of global geopolitical discussions.

World leaders are now watching closely to see whether the dispute moves toward negotiation or further diplomatic escalation.

Short Summary

21 January 2026 0 comment

Blog Business Featured

Silver Hits Record High as Futures Surge on Strong Global Cues

by theparliamentnews.com 19 January 2026

written by theparliamentnews.com

Silver prices surged to a record high in futures trade on Monday, crossing the ₹3 lakh per kilogram mark for the first time, supported by strong global cues and rising investor demand.

On the Multi Commodity Exchange (MCX), silver futures for March delivery jumped by ₹13,553, or 4.71%, to hit an all-time high of ₹3,01,315 per kilogram during the session.

The rally was mirrored in international markets. On global commodity exchanges, the March silver futures contract rose by $5.81, or 6.56%, to touch a record high of $94.35 per ounce.

Market analysts attributed the sharp rise to robust industrial demand for silver, particularly from sectors such as electronics, renewable energy, and manufacturing. A weaker US dollar also supported prices, making dollar-denominated commodities more attractive to investors.

Silver has been outperforming gold in recent sessions, as demand for the white metal remains strong amid expectations of continued industrial consumption and global economic adjustments. Analysts noted that silver’s dual role as both an industrial metal and a precious asset has contributed to heightened investor interest.

Market participants are closely watching global economic indicators, currency movements, and industrial demand trends for further cues on price direction.

19 January 2026 0 comment

Blog Featured World

Trump Links Tariffs to Greenland Talks, Europe Pushes Back

by theparliamentnews.com 18 January 2026

written by theparliamentnews.com

US President Donald Trump has announced the imposition of 10 per cent tariffs on several European countries, including Denmark, the United Kingdom, and France, citing their opposition to his proposal for the United States to acquire Greenland.

In a post on his social media platform Truth Social, Trump said the tariffs would take effect from February 1 and warned that the rate would be increased to 25 per cent from June 1 if negotiations fail to result in what he described as the “complete and total purchase of Greenland” by the United States.

The announcement came a day after Trump warned that countries opposing his Greenland plan could face economic measures. He has repeatedly argued that Greenland is strategically important for US national security due to its mineral resources and Arctic location.

European leaders have rejected the proposal, stating that Greenland’s future can only be decided by Denmark and the people of Greenland. Denmark recently confirmed that it would strengthen its military presence in Greenland, working in coordination with allies.

The White House said the increased European military presence would not affect the US position. France’s Armed Forces Minister Alice Rufo described the developments as a sign that Europe was prepared to defend sovereignty.

Trump has justified his position by claiming that US control of Greenland is necessary to prevent the region from falling under the influence of China or Russia. Earlier this week, he said that any outcome short of US ownership was “unacceptable.”

Following meetings in Washington, Danish officials said the two governments remained in fundamental disagreement over Greenland’s future. Danish Foreign Minister Lars Løkke Rasmussen ruled out any US acquisition, stating that such a move would violate international law and infringe on sovereignty.

Greenland’s Prime Minister Jens-Frederik Nielsen reaffirmed the territory’s alignment with Denmark and Europe, saying Greenland would choose Denmark, NATO, and the European Union if forced to decide.

Public opposition has also grown in Denmark, where thousands of demonstrators marched in Copenhagen to support Greenland’s self-governance. Protesters carried signs stating “Greenland is not for sale” and “We shape our future.”

The dispute has added to diplomatic tensions between the United States and European allies, with no indication so far that negotiations will bridge the gap.

18 January 2026 0 comment

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Featured

India-Russia Oil, US Tariffs and a Diplomatic Opening

ChatGPT’s Wealth Advice Sounds Surprisingly Old-School

Explosive Growth, No Profit: Inside OpenAI’s Ad Gamble

A potential EU–India trade deal with global impact now down to the summit.

As Welfare Expands, Tobacco Tightens Its Grip on Poorer India

Like Wi-Fi for Energy: Finnish Researchers Explore Wireless Electricity

Apple Pay Expected to Enter India Market in Coming Months

Trump’s Greenland Comments Shift Focus at World Economic Forum

Silver Hits Record High as Futures Surge on Strong Global Cues

Trump Links Tariffs to Greenland Talks, Europe Pushes Back

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