The article titled “Delhi protests US strikes on vessels in Gulf of Oman” appears as a front-page brief which refers to a full report on page 3. Below is the reproduced text from both the brief and the detailed article.
Delhi protests US strikes on vessels in Gulf of Oman (Front Page Brief)
New Delhi: India summoned US Chargé d’Affaires Jason Meeks on Friday, the second time in three days, and lodged a “strong protest” against the attacks by US forces on commercial vessels with Indian mariners in the Gulf of Oman, which resulted in the loss of three lives. “The Ministry again conveyed its concern over the use of deadly force against civilian shipping. Such actions are unacceptable and undermine the safety, security and stability of maritime commerce in a sensitive region at a difficult time,” the MEA said.
India lodges ‘strong protest’ over US attack on commercial vessels (Full Article)
Amiti Sen, New Delhi
India summoned US Chargé d’Affaires Jason Meeks on Friday, the second time in three days, and lodged a “strong protest” against the continuing attacks by US naval forces on commercial vessels carrying Indian mariners in the Gulf of Oman, which resulted in the loss of three lives.
DIPLOMATIC MOVE “The Ministry once again conveyed its deep concern over the use of lethal and deadly force against civilian shipping. Such actions are unacceptable and undermine the safety, security and stability of international maritime commerce in a sensitive region at a difficult time,” the MEA said in a statement.
The high-level diplomatic meeting followed American forces “disabling” three commercial ships in the Gulf of Oman this week. The attack on one of the ships, the Palau-flagged oil tanker MT Settebello (which had 24 Indian seafarers on board), killed three Indian mariners. In its defence, the US Central Command stated on Thursday that the vessels had violated the blockade against Iran.
The operator of Settebello denied these claims, stating it had no connections with Iranian oil. “The US Chargé d’Affaires was requested to convey India’s strong concerns to his authorities and to ensure that US forces operating in the region take all necessary measures to prevent the loss of civilian life,” the MEA statement noted.
International Condemnation Iran’s Foreign Ministry spokesperson Esmail Baghaei condemned the US attacks in a post on ‘X’, calling them evidence of “America’s ongoing policy of armed robbery and State piracy”. He urged the international community to hold the US accountable for conduct that threatens global peace and navigation freedom.
Additionally, the All India Seafarers Union issued an official statement expressing deep concern over the growing security threats faced by mariners in international waters following these recent attacks.
SpaceX makes strong Nasdaq debut after record IPO
Our Bureau Mumbai
SpaceX rose 11 per cent in its Nasdaq debut on Friday, lifting its valuation to about $1.96 trillion as investors piled into the world’s largest Initial Public Offering (IPO) and bought onto Elon Musk’s sprawling empire spanning rockets, satellite communications and AI. The stock opened for trading at $150 compared with the IPO price of $135 per share. The deal was being closely scrutinised because of the stakes for the IPO market, which some bankers said could face difficulties if SpaceX shares close below Thursday’s pricing level.
BIG IPOS COMING With SpaceX widely viewed as a dress rehearsal for a new generation of mega-listings, market participants will also be watching for signals on investor appetite ahead of forthcoming IPOs for AI heavyweights Anthropic and OpenAI.
FIRST TRILLIONAIRE The stock’s performance will also be a test for the so-called “Musk premium,” which has been the force behind Tesla’s $1 trillion-plus valuation, despite coming under pressure during Musk’s active role in President Donald Trump’s administration. The landmark listing cemented Musk’s status as the first trillionaire ever and propelled SpaceX into the ranks of the world’s most valuable companies even though the firm posted a loss of nearly $5 billion last year and generated only a fraction of the revenue brought in by similarly valued tech giants.
“I gave SpaceX a 10 per cent chance of succeeding at all,” Musk said in Texas, shortly before the opening bell. SpaceX President Gwynne Shotwell and Chief Financial Officer Bret Johnsen rang the Nasdaq opening bell at 9.30 am ET (1330GMT).
WORLD’S LARGEST IPO The record IPO is a culmination of Musk’s long-held ambitions in space and technology and has stood out for rewriting Wall Street’s IPO playbook and drawing legions of retail investors into the market. At $75 billion, the deal’s proceeds were more than double those of Saudi Aramco’s record-setting 2019 IPO. The valuation could rise further should underwriters exercise their right to sell additional shares, a decision typically made within 30 days after the offering.
NASDAQ 100 ENTRY Although SpaceX may have to wait for entry into the S&P 500, its expected fast-track inclusion in the Nasdaq 100 will soon make it a major holding for passive funds and ETFs that track the index, creating a fresh source of demand for its shares. For all the excitement surrounding the IPO, determining what SpaceX is actually worth remains a difficult valuation exercise. SpaceX said its market opportunity spans $28.5 trillion, a figure it called the largest in human history.
Reuters
Amazon banks on its own charging infra to expand
New Delhi/London: Amazon is relying on on-site charging infrastructure for its growing fleet of electric delivery vehicles in India, while also working with partners to expand charging and transportation options as it pushes towards its sustainability goals. The US-based e-commerce giant already has plans to introduce over 1,000 electric trucks into its operations in India over the next five years, joining the existing 10,000 electric vehicles fleet.
The move is aimed at delivering packages from Amazon fulfilment centres more sustainably. Replying to questions on the limited availability of public EV charging infrastructure in India, Andreas Marschner, Amazon Vice-President, Global Engineering and Sustainability, said the challenge is not unique to India and exists across markets globally.
PTI
Corporate governance: Lessons from the cricket field
SN Ananthasubramanian & MS Sahoo
In cricket, as in life, it is the context which determines the text. A batter may possess flawless technique and impeccable credentials, yet fail if unable to read changing conditions, anticipate risks, and adapt to the demands of the moment. The same is increasingly true in corporate governance.
In an era defined by geopolitical volatility, rapid AI integration, activist stakeholders, and shifting regulatory demands, governance requires far more than procedural compliance. It requires the ability to be aware of the game even as it unfolds.
Recent performances on the cricket field offer valuable governance lessons for corporate boards. Take Axar Patel’s pivotal innings for India under immense pressure in Barbados. It didn't feature the most spectacular, boundary-heavy fireworks of the tournament, but it won the match. Patel quickly assessed a deteriorating situation, absorbed the pressure, rotated strike intelligently, and accelerated only when the conditions allowed.
Corporate boards frequently face identical high-pressure moments, but they often struggle to respond with the same agility. Most governance failures happen in plain sight. Boards today are inundated with presentations, dashboards, compliance checklists, risk registers, and audit observations. The challenge is rarely a lack of data, but recognising what the data signifies.
Weak signals are dismissed as noise, while emerging risks are underestimated because they don’t fit neatly into quarterly spreadsheets. Cultural deterioration goes unnoticed until it hits the headlines. By the time warning signs become undeniable, the organisation may already be on a downward trajectory.
The early signs of distress are often visible long before the crisis erupts. A sudden increase in employee attrition, recurring customer complaints, persistent regulatory observations, or an unusual concentration of decision-making authority may each appear insignificant in isolation. Viewed together, however, they often reveal vulnerabilities that conventional reporting frameworks fail to capture.
Game awareness in governance is the ability to recognise changing realities before they show up in financial statements. It is the capacity to distinguish signal from noise, identify emerging threats, and understand when ordinary circumstances have become extraordinary. This demands contextual judgment. Just as a seasoned batter reads a slowing pitch or an unexpected field placement, boards must interpret shifting stakeholder expectations, technological disruptions, and organisational sentiment.
Governance is fundamentally about interpreting context, not just reviewing compliance.
TRUSTING YOUNG TALENT
Young Vaibhav Sooryavanshi’s success reflected an institution willing to trust talent regardless of age or seniority. There is an important governance lesson here. Many corporate boards continue to operate within insular cultures where hierarchy is absolute, and length of tenure is valued to the exclusion of fresh perspectives. Yet periods of rapid technological and business transformation often reward cognitive agility, digital fluency, and adaptive thinking as much as experience. Boards that fail to balance seasoned judgment with younger and more diverse perspectives risk strategic stagnation, while those that cultivate emerging leaders are better positioned to navigate uncertainty and change.
Importantly, game awareness is not the responsibility of the captain alone. A cricket team functions because multiple players read the field and respond collectively. Similarly, effective corporate governance cannot depend solely on the chairperson, the CEO, or independent directors. It requires total alignment among boards, executive management, risk officers, and internal auditors.
This has significant implications for governance professionals. Their role can no longer be confined to procedural compliance and administrative stewardship. Governance professionals must become active interpreters of institutional risk, organisational behaviour, and emerging vulnerabilities.
In practice, this requires moving board discussions beyond retrospective reporting to identifying blind spots, emerging risks, and forward-looking scenarios. Compliance remains the baseline, but dynamic awareness sustains resilience.
Compliance is governance’s scoreboard. It tells us what has happened. Game awareness helps us understand what may happen next. Boards that focus only on the scoreboard may remain compliant even as vulnerabilities accumulate beneath the surface.
The writers are former President and former Secretary, respectively, of the Institute of Company Secretaries of India.
Only 1 in 4 major reservoirs half-full as storage drops to 28%
Our Bureau Chennai
Hardly one in four major Indian reservoirs was filled to half, with no reservoir having storage above 90 per cent this week. The development comes on the heels of storage in the 166 major reservoirs dropping to 28 per cent of the 183.565 billion cubic metres (BCM) capacity, currently at 51.917 BCM, according to data from the Central Water Commission (CWC).
According to the India Meteorological Department (IMD), nearly two-thirds of the country received deficient or no rainfall between June 1 and 11. Despite the South-West Monsoon setting in on June 4 and lashing parts of the country, storage in the southern and eastern regions continued to be below 25 per cent, with levels dropping further last week.
KARNATAKA SITUATION WORRISOME
In the southern region, the situation continued to be worrisome in Telangana and Karnataka, where storage dropped to 15.5 per cent and 14 per cent, respectively. Andhra Pradesh had a better level at 33 per cent, as did Tamil Nadu at 34 per cent. The level improved slightly in Kerala to 22 per cent. Overall, the 47 southern reservoirs were filled to just 21 per cent of their total capacity.
REGIONAL BREAKDOWN
- Eastern Region: The level in the 27 reservoirs was 22 per cent of the 21.759 BCM capacity.
- Northern Region: Storage in the 11 reservoirs was 34 per cent of the 19.836 BCM capacity. While higher than a year ago, levels in Rajasthan were lower at 43.5 per cent.
- Western Region: The 53 reservoirs were at 31 per cent capacity. Storage in Maharashtra dropped to 21 per cent, while Gujarat stood at 40 per cent.
- Central Region: The 28 reservoirs were filled to 35 per cent capacity. Chhattisgarh reported the highest regional level at 52.5 per cent, while Madhya Pradesh was at 37 per cent. Reservoirs in Uttar Pradesh and Uttarakhand were filled to 29 per cent and 17 per cent, respectively.
Noida International Airport to handle 40 daily flights by July
TAKING OFF. IndiGo, Akasa Air are launching operations next week; Air India yet to announce plans Rohit Vaid & Aneesh Phadnis — New Delhi/Mumbai
Noida International Airport (NIA), which begins commercial operations from Monday, will see 40-42 daily flights in the first two months, its senior management told businessline in an interaction. While cargo operations too will start from day one, international flights are expected to start later this year with foreign carriers evincing interest to start services to the greenfield airport.
“In June, we will have 12 daily flights, and in July as more destinations get added, we would have around 40-42 flights per day,” said Nitu Samra, the airport’s Chief Executive Officer. IndiGo and Akasa Air are launching operations from Noida airport next week, but Air India is yet to announce its plans. “We remain in contact and in discussion with other domestic and international carriers,” said Christoph Schnellmann, Executive Vice-Chairman of the airport’s board.
Noida airport, situated at Jewar, will provide better air connectivity for residents and businesses in western Uttar Pradesh. The first phase, consisting of a single runway and passenger terminal, has been developed at a cost of ₹11,200 crore.
Last month, the Airport Economic Regulatory Authority allowed the Noida airport to collect ₹490 as user development fee (UDF) from domestic departing passengers. Asked if high UDF would deter passengers, Samra said the fee is not that high considering it is a greenfield airport. “Passengers now have an option to travel from either of the airports (Noida or Delhi), depending on where they are and depending upon the time of the day. They will make a choice,” she said.
The airport estimates it will handle five million passengers in the first full year of operations and is not revising its projections despite a rise in aviation turbine fuel prices that has led airlines to cancel flights.
TRAFFIC OUTLOOK “We are indeed in a situation where the industry is facing headwinds in India as well as globally. And our takeaway is that it makes traffic outlook and the traffic forecast in the short term just much more difficult to predict,” Schnellmann said. “I am convinced we are going to be able to provide passenger experience that sort of combine the technology and operational efficiency that our parent company (Zurich airport) is known for,” he added.
“Let’s say the materials that have been put to use in the terminal, the architectural elements that we have used, the artwork, the ornamentation, the food and beverage offering again very much something that’s hopefully unique and very much at home in western Uttar Pradesh,” he said.
Navi Mumbai airport began operations last December. Asked about Noida airport’s learning from that launch, Schnellmann said the team at Navi Mumbai had worked hard for months to successfully launch the operation. “Similarly, we have been working on operational readiness and testing and hopefully we will start successfully on Monday,” he remarked.
Singapore court stays order against Byju Raveendran
Our Bureau Bengaluru
Embattled edtech Byju’s founder Byju Raveendran has secured temporary relief from a Singapore court after the General Division of the High Court of Singapore granted a stay on the committal and surrender provisions of its civil contempt order issued on May 25.
The stay, granted on June 10, means that Raveendran is not required to surrender to the authorities, and no term of imprisonment will take effect while his appeal is being heard. The development comes amid an ongoing legal battle linked to the edtech company’s disputed $1.2 billion term loan and related arbitration proceedings.
ORDER CHALLENGED Raveendran had also filed an appeal against the contempt finding, arguing that the underlying orders and disclosure obligations remain contested and are themselves subject to separate proceedings seeking to set them aside.
“There was an absolutely incorrect public narrative created post the selective verbal leak of the earlier order by the Singapore court falsely claiming an arrest warrant had been issued against Raveendran,” said J Michael McNutt, Senior Litigation Advisor to Raveendran and the founders at Lazareff Le Bars.
Raveendran said he remains committed to contesting what he described as a misleading narrative surrounding the case. “I welcome the stay granted by the Singapore court. At a time when parties have been engaged in settlement discussions, it is unfortunate that a misleading impression of wrongdoing is being created,” he said.
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