BSE launches Reits index; Waterways Leisure Tourism sinks on debut

BSE launches Reits index; Waterways Leisure Tourism sinks on debut



BSE Index Services, a subsidiary of BSE, announced the launch of the BSE Reits and Commercial Real Estate Index on Wednesday. The launch comes as the mutual fund (MF) industry prepares to introduce the first Reits-focused schemes. This new index can be used for running passive strategies such as and index funds. It can also be used for benchmarking of PMS strategies, MF schemes and fund portfolio, the index provider said in a release. Embassy Office Parks Reit, Brookfield India Real Estate and Nexus Select Trust are top holdings of the index.

 


Waterways Leisure sinks on debut; Advit Jewels shines 

 


Cordelia Cruises operator Waterways Leisure Tourism shares made a weak market debut on Wednesday. The stock ended its debut session at ₹667, a 17.4 per cent discount to its issue price of ₹808 per share. Post listing, the company commands a market capitalisation of ₹4,831 crore. Meanwhile, Advit Jewels ended its maiden session at a premium of 29 per cent. The ₹165 crore issue was subscribed a whopping 212.63 times.

First Published: Jul 01 2026 | 11:39 PM IST



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Abhishek Sharma creates history, becomes fastest batter in world to…

Abhishek Sharma creates history, becomes fastest batter in world to…


Abhishek Sharma created history by becoming the fastest batter from a Full Member nation to smash 100 T20I sixes, reaching the milestone in just 785 balls during the first T20I against England. The India opener also blasted the fastest T20I fifty by an Indian in England off just 20 balls and became only the fifth Indian to complete 100 T20I sixes.



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Unchecked AI may pose catastrophic risks, warns UN panel preliminary report

Unchecked AI may pose catastrophic risks, warns UN panel preliminary report



Developments in artificial intelligence (AI) are outpacing scientific understanding and government policy, meaning there are no guarantees the technology will not cause catastrophic harm, a United Nations (UN) independent panel warned on Wednesday. 


A preliminary report by the UN’s Independent International Scientific Panel on Artificial Intelligence said policymakers face a growing dilemma: they need robust evidence to regulate AI effectively, yet such evidence is struggling to keep pace with the technology’s rapid evolution. 


“AI capabilities are outpacing both scientific understanding and governments’ ability to adapt,” said Yoshua Bengio, co-chair of the panel, comprised of 40 cross-regional experts. 


“With growing evidence of deceptive AI behaviour, science currently cannot guarantee that as capabilities continue to increase, AI will not cause catastrophic harm, either on its own or due to malicious users.” 

 


Described as the first global independent assessment of AI’s risks and opportunities, the report aims to give up-to-date evaluations of the science to help guide decision-making as governments contend with fast-evolving systems. 


In the near term, it expects a shift towards agentic AI systems capable of carrying out real-world tasks, although growth may be constrained by energy and high-quality data shortages. Over time, it foresees self-improving AI embedded more deeply in the economy and converging with technologies such as quantum computing and biotechnology. 


AI already demonstrates expert-level reasoning in mathematics and science and is accelerating drug and vaccine development, and its task complexity is doubling every four to seven months, potentially allowing systems to complete work that takes humans days or weeks, according to the report. 


While this could deliver significant economic benefits, it remains unclear whether productivity gains from using AI will translate into broader growth or affect jobs. 


The panel also outlined a range of safety concerns, such as the risk of losing control over AI systems as they become increasingly autonomous, and deceptive. 


AI is already being used to generate misinformation and other harmful content and could be exploited for fraud, cyberattacks and biological threats. 


Governance remains fragmented, with many countries lacking the capacity to assess or shape advanced AI systems, leaving them reliant on technologies they cannot fully understand or control. Existing safety tools often depend on limited testing data disclosed by companies, the report said. 

UN Secretary-General Antonio Guterres urged governments to act swiftly. “The world cannot govern what it cannot understand,” Guterres said in a statement. The potential is great, but the risks are real, and the cost of waiting is rising, he added. 


What the report says


  • Policymakers need robust evidence to regulate AI effectively, yet this evidence struggles to keep pace with AI’s rapid evolution

  • Expects a shift towards agentic AI systems capable of carrying out real-world tasks

  • Growth may be constrained by energy and high-quality data shortages

  • Outlines a range of safety concerns, such as the risk of losing control over AI systems

 



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Who Is Brian Cipenga? DR Congo star who shocked England with stunning FIFA World Cup 2026 goal

Who Is Brian Cipenga? DR Congo star who shocked England with stunning FIFA World Cup 2026 goal


England suffered a nightmare start to their FIFA World Cup 2026 Round of 32 clash against the Democratic Republic of Congo after Brian Cipenga fired the underdogs into an early lead at the Mercedes-Benz Stadium in Atlanta on Wednesday.

The DR Congo forward found the net in just the seventh minute, capitalising on a defensive lapse to hand his side a dream start against one of the tournament favourites.

Brian Cipenga gives DR Congo dream start

The breakthrough came after Chancel Mbemba flicked a long ball into the danger area, where Cipenga reacted quickest to steer a low finish past England goalkeeper Jordan Pickford.

England’s backline was caught out by the quick move, with Djed Spence unable to prevent the striker from getting his shot away as the Leopards stunned the Three Lions with an early opener.

The goal forced Thomas Tuchel’s side onto the back foot in a match they were widely expected to dominate.

Born in Kinshasa, Brian Cipenga began his football journey in Portugal, progressing through the lower divisions before establishing himself as a professional. He represented clubs including Sporting Clube Ideal, Anadia, Vilaverdense and Paços de Ferreira before moving to Spain. Cipenga spent last season with CD Castellón in LaLiga 2, where he scored six goals and registered nine assists in 30 appearances. The 29-year-old recently completed a move to Spanish second-division club UD Almeria.

First International goal on the biggest stage

Before the World Cup, Cipenga had made nine appearances for DR Congo after making his international debut in 2025. Although he had registered two assists, he was yet to score his first goal for the national team.

That changed in spectacular fashion against England. On one of football’s biggest stages, Cipenga showed composure inside the penalty area to beat Pickford and hand DR Congo a historic early advantage in a knockout fixture.

The goal further highlighted DR Congo’s fearless approach after the African nation booked a place in the Round of 32 with an impressive campaign. For Cipenga personally, it marked the biggest moment of his career so far, transforming him from a relatively unfamiliar name into one of the standout stories of the FIFA World Cup 2026.

England: Jordan Pickford; Ezri Konsa, Nico O’Reilly, Marc Guehi, Djed Spence; Declan Rice, Elliot Anderson, Jude Bellingham; Harry Kane, Marcus Rashford, Noni Madueke.

DR Congo: Lionel Mpasi; Aaron Wan-Bissaka, Axel Tuanzebe, Chancel Mbemba, Arthur Masuaku; Ngalayel Mukau, Nathanael Mbuku, Samuel Moutoussamy, Noah Sadiki; Brian Cipenga, Yoane Wissa.

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Jana Capital downgrade unlikely to have bearing on Jana Small Finance Bank

Jana Capital downgrade unlikely to have bearing on Jana Small Finance Bank



The downgrade of Jana Capital by India Ratings & Research (Ind-Ra), following the extension of the maturity date of its non-convertible debentures (NCDs), is unlikely to have any bearing on Jana Small Finance Bank (SFB), as there is no cross-default linkage between the debt of the SFB and Jana Holdings or Jana Capital, sources said.

 


Jana Capital is a systemically important core investment company, which has a wholly owned subsidiary, Jana Holdings— a non-operating financial holding company — and holds a 16.95 per cent stake in Jana SFB.

 


Jana Holdings, which earlier had a 44 per cent stake, has been reducing its stake in the bank over the years. Jana Holdings plans to sell further stake in the bank, which will help it repay debenture holders such as TPG Asia, which has a stake in the company. Eventually, Jana Holdings is likely to bring its stake in the bank below 10 per cent, which would mean the company will no longer be classified as a promoter entity.

 
 


Jana Holdings has not contributed any capital to the bank since June 2022. The bank has raised ₹1,268 crore over the past four years. Moreover, Jana Holdings does not have any board member on the bank’s board, and vice versa.

 


Late Tuesday, Ind-Ra downgraded Jana Capital’s NCDs to ‘IND D’ (default).

 


“The rating downgrade reflects Jana Capital’s and Jana Holdings’ confirmation to Ind-Ra that the debenture holders have agreed to extend the maturity of the rated NCDs — originally due on June 30 — to December 31,” the rating agency said.

 


Jana Holdings and Jana Capital have repayments of around ₹4,200 crore in total due on June 30 (principal plus accrued interest). Sources said the NCDs have been rescheduled to give the companies more time to sell their stake in the bank.

 


Jana Holdings divested a 4.9 per cent stake in the SFB to TVS Venu Group in April for ₹193.3 crore, which was intended to be utilised towards part servicing of upcoming debt obligations.

 


Ind-Ra noted that both Jana Holdings and Jana Capital are non-operating entities, with no cash flows of their own, and were to make payments towards these NCDs either through a stake sale of their operating entity — Jana SFB — or through refinancing.

 


Jana SFB shares ended marginally lower by 0.19 per cent on the BSE, closing the day at ₹467.9 apiece.

 



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