Bloomberg reporter Low De Wei testified for the first time in the defamation trial brought by Singapore Home Affairs Minister K Shanmugam and Manpower Minister Tan See Leng against his employer. Under cross-examination, Low conceded that records related to Good Class Bungalow transactions were 'possible' to locate, a direct tension with the article's framing that such records were difficult to access due to secrecy. The admission matters because the defendants' legal strategy rests partly on whether the reporting accurately represented the accessibility of public or semi-public records. If the court finds that the secrecy characterization was overstated or unsupported, it could bear on the question of whether the publication acted responsibly in its editorial process. The trial, pitting two senior cabinet ministers against one of the world's largest financial news organizations, will turn substantially on whether Bloomberg's reporting met the standards required under Singapore defamation law. Low's testimony is expected to continue, with further questioning likely to probe the sourcing and verification methods behind the original article.
India's government plans to amend the Payment and Settlement Systems Act to restore UPI merchant discount rates, ending the zero-MDR regime in place since January 2020.
India's government has introduced the Taxation and Other Laws (Amendment) Bill, 2026, proposing changes to payments regulation, income tax, and the Finance Act to attract FDI and support Make in India. The Bill's final shape will depend on parliamentary debate and committee review.
The government's Taxation and Other Laws (Amendment) Bill, 2026, proposes to replace the blanket UPI MDR ban with a system allowing the Centre to notify which payment modes stay fee-free.
Prime Minister Narendra Modi inaugurated the Rs 5,000 crore Bhogapuram greenfield airport in Andhra Pradesh, built under a public-private partnership model. He also laid foundation stones for infrastructure projects worth nearly Rs 18,000 crore in the state, signalling a broad investment push for the region.