US President Donald Trump
| Photo Credit:
EVELYN HOCKSTEIN/REUTERS
U.S. President Donald
Trump on Saturday said he never offered to nominate JPMorgan
CEO Jamie Dimon for the job of Federal Reserve chair,
contradicting a report this week.
In a post on Truth Social, Trump blasted a Wall Street
Journal report that said he offered the Fed chair post to Dimon.
Trump also wrote that he plans to sue JPMorgan over the next two
weeks for allegedly “debanking” him over the January 6, 2021,
attack on the U.S. Capitol.
Published on January 17, 2026
Financial Services Secretary M Nagaraju has urged Life Insurance Corporation of India to strengthen digital marketing and adopt a mobile-first approach to help achieve the national goal of “insurance for all”.
| Photo Credit:
Manvender Vashist Lav/PTI
Financial Services Secretary M Nagaraju on Saturday asked LIC to continue adopting digital marketing and a mobile-first approach to ensure the realisation of the national goal of “insurance for all”.
Life Insurance Corp (LIC) has a consolidated AUM of Rs 57.23 lakh crore and an yield of 8.9 per cent on policyholders’ funds, supported by a strong solvency ratio, a finance ministry statement said.
This corpus may be used for incentivising growth of startups and alternative investment funds. The importance of improving persistency ratios, particularly among low-ticket policyholders, through concerted push and continuous follow-up was underlined, it said.
Nagaraju said LIC is not just an insurance company but a Domestic Systemically Important Insurer (D-SII) and this designation by the insurance regulator IRDAI carries a profound responsibility as LIC’s stability is synonymous with India’s financial stability.
Speaking at the LIC’s strategy meet in Mumbai, the secretary also highlighted the transformation of LIC’s product portfolio, with a strategic shift to high-growth non-participating products.
The continued adoption of digital marketing and a mobile-first approach was urged to ensure the realisation of the national goal of insurance for all, Nagaraju said.
Published on January 17, 2026
European Commission President Ursula von der Leyen said the pact would create the world’s largest free trade zone. The agreement was backed by most EU states despite opposition from farmers and environmental groups.
Top officials from the EU and the South American bloc Mercosur signed a free trade agreement on Saturday in Paraguay, paving the way for the European Union’s largest ever trade accord after 25 years of negotiations.
The agreement, designed to lower tariffs and boost trade between the two regions, must now gain the consent of the European Parliament and be ratified by legislatures of Mercosur members Argentina, Brazil, Paraguay and Uruguay.
European Commission President Ursula von der Leyen and European Council President Antonio Costa joined the presidents of Mercosur countries at Saturday’s ceremony, with the exception of Brazilian President Luiz Inacio Lula da Silva, who sent his foreign minister.
The deal was signed after receiving the green light from most European nations last week, despite concerns from farmer and environmental groups, who fear a surge of inexpensive South American imports and increased deforestation.
Von der Leyen, who met with Lula before heading to Asuncion for the signing, said the deal would create the largest free trade zone in the world.
“This agreement sends a very strong message to the world. It reflects a clear and deliberate choice. We choose fair trade over tariffs. We choose a productive, long-term partnership over isolation,” she said on Saturday.
Trade between the two blocs, which encompasses a market of 700 million people, reached a value of 111 billion euros in 2024. European Union exports mainly consist of machinery, chemical products, and transport equipment, whereas Mercosur’s exports are concentrated in agricultural goods, minerals, wood pulp, and paper.
Published on January 17, 2026
President Donald Trump has threatened to impose escalating tariffs on several European allies unless the United States is allowed to buy Greenland, deepening a dispute over the Arctic island’s future.
| Photo Credit:
Dado Ruvic/Reuters
President Donald Trump on Saturday vowed to implement a wave of increasing tariffs on European allies until the United States is allowed to buy Greenland, escalating a row over the future of Denmark’s vast Arctic island.
In a post on Truth Social, Trump said additional 10% import tariffs would take effect on February 1 on goods from Denmark, Norway, Sweden, France, Germany, the Netherlands, Finland and Britain, all already subject to tariffs imposed by Trump.
Those tariffs would increase to 25% on June 1 and would continue until a deal was reached for the US to purchase Greenland, Trump wrote.
The president has repeatedly said Greenland is vital to US security because of its strategic location and large mineral deposits, and has not ruled out using force to take it. European nations this week sent military personnel to the island at Denmark’s request.
“These Countries, who are playing this very dangerous game, have put a level of risk in play that is not tenable or sustainable,” Trump wrote.
“The United States of America is immediately open to negotiation with Denmark and/or any of these Countries that have put so much at risk, despite all that we have done for them, including maximum protection, over so many decades,” he said.
Protesters in Denmark and Greenland demonstrated on Saturday against Trump’s demands and called for it to be left to determine its own future.
Prominent European Union countries have backed Denmark, warning that the US military seizure of a territory in NATO could collapse the military alliance that Washington leads. Britain has also given its support.
Published on January 17, 2026
Andhra Pradesh Chief Minister N. Chandrababu Naidu
| Photo Credit:
Ganeshan A 10173@Chennai
Andhra Pradesh Chief Minister N. Chandrababu Naidu and his team will leave for Davos (Switzerland) on Sunday (January 18) to attend the World Economic Forum (WEF) conference from January 19 to 22.
He has lined up 36 engagements with representatives of various corporate companies and other leaders. During his visit, he will hold talks with IBM Chairman and CEO Arvind Krishna, Google Cloud CEO Thomas Kurian, NVIDIA Vice-President Calista Redmond, and JSW Group Chairman Sajjan Jindal.
“The Chief Minister’s schedule features 16 one-on-one meetings with global business leaders, 9 roundtables and thematic sessions, three government-to-government meetings, plenary sessions, and a Telugu Diaspora programme,” a State government official said.
The Chief Minister will arrive in Zurich, where he will meet Mridul Kumar, the Ambassador of India to Switzerland, and Eros Innovation Chairman and Founder Kishore Lulla, as well as Co-Founder and Co-President Ridhima Lulla.
Later in the day, he will attend a Telugu Diaspora programme at the Indian Embassy, bringing together non-resident Telugus from 20 countries.
He will also meet Tata Sons Chairman N. Chandrasekaran and Confederation of Indian Industry (CII) Director General Chandrajit Banerjee.
Published on January 17, 2026
State-run UCO Bank on Saturday reported a 15.76 per cent year-on-year increase in its net profit to ₹739.51 crore for the third quarter of the current financial year as its operating profit grew around 6 per cent y-o-y and provisions fell around 11 per cent y-o-y during the period.
The Kolkata-based bank had posted a net profit of ₹638.83 crore for the third quarter last fiscal.
The lender’s operating profit stood at ₹1680.24 crore for Q3FY26 as against ₹1,585.69 crore for Q3FY25. Net Interest Income (NII) for the quarter under review stood at ₹2,646.12 crore, registering a growth of 11.29 per cent y-o-y. During the period under review, non-interest income, however, saw a decline of 26.69 per cent y-o-y at ₹869.32 crore, according to a stock exchange filing.
Domestic Net Interest Margin (NIM) stood at 3.27 per cent for the quarter ended December 31, 2025, which was a 11 basis points decline from 3.38 per cent for the year-ago period.
“The guidance for NIM for this financial year was 2.8-2.9 per cent because of the 125 bps repo rate cut announced by RBI. But if you look at our achievement during this quarter, we have already surpassed the guidance. The global NIM for the third quarter was 3.08 per cent. I believe that in the next quarter also we will be in this range. So, our overall NIM will be better than whatever we had guided at the start of this financial year,” UCO Bank Managing Director and Chief Executive Officer Ashwani Kumar told a media conference after declaring the results.
During the third quarter, the lender’s credit and deposit growth stood at 16.74 per cent and 10.64 per cent, respectively. For this fiscal, guidance for credit growth is 12-14 per cent.
Provisions during Q3FY26 fell to ₹525.12 crore from ₹589.51 crore in the corresponding period of FY25. During the period under review, asset quality improved on the year-on-year basis. Gross non-performing assets (NPA) ratio fell 500 bps at 2.41 per cent, and net NPA ratio declined 27 bps at 0.36 per cent.
The government currently holds 90.95 per cent stake in the bank.
Published on January 17, 2026
