Power Finance Corporation has moved a step closer to its proposed merger with REC Limited after its board approved seeking formal approval from the President of India for the transaction. In an exchange filing, PFC said its board has approved reserving the proposal for the merger of REC into PFC for the approval of the President of India.

The board also authorised PFC Chairman and Managing Director Parminder Chopra to apply for and seek the President’s approval for the proposed merger. The merger will be carried out based on a share exchange ratio to be determined by valuers appointed for the transaction.

PFC also clarified that the merged entity would continue to retain its “government company” status, including through possible issuance of securities or capital infusion by the central government if required.

The proposed merger remains subject to final board approval and multiple regulatory clearances and permissions. Upon completion of the merger, all assets and liabilities of REC would be transferred to PFC and REC would stand dissolved under the provisions of the Companies Act.

The development comes amid growing market discussion around the structure of the merger and the government’s ability to maintain majority ownership in the combined entity. At present, the government holds a 55.9% stake in PFC and a 52.6% stake in REC, while the remaining shares are held by public investors.

Analysts have estimated that, based on prevailing market prices, the Centre’s stake in the merged entity could potentially fall below the critical 51% threshold unless additional capital is infused.
The issue has gained significance because bonds issued by both Power Finance Corporation and REC Limited carry covenants linked to government ownership. A fall in the government’s holding below 51% could be interpreted as a change in control and may trigger covenant-related concerns.According to analyst estimates, the government may need to infuse nearly Rs 25,000 crore to maintain majority ownership in the merged entity. This has raised questions over whether the Centre, amid fiscal constraints, would be willing to commit fresh capital to an already well-capitalised state-run finance company.

Earlier this week, Chopra indicated during a post-results interaction with analysts that the merger is targeted to become effective from April 1, 2027, subject to regulatory and government approvals.

She also reiterated that the merged entity would retain its government-company status, though the final structure is still being worked out.

The proposed merger was originally announced in the Union Budget on February 1 as part of the government’s broader strategy to consolidate state-run financial institutions in the power and infrastructure financing sector.

Both PFC and REC had subsequently granted in-principle approval to the merger proposal on February 6. If completed, the merger would create one of India’s largest infrastructure financing institutions focused on power generation, transmission, renewable energy and infrastructure lending.

HOUSTON — A SpaceX Dragon cargo spacecraft successfully docked with the International Space Station early Sunday morning, delivering more than 6,000 pounds of supplies, scientific experiments and crew provisions in the latest demonstration of the seamless partnership between NASA and the private space company.

The Dragon, which launched from Florida’s Kennedy Space Center on May 15 aboard a Falcon 9 rocket, completed its rendezvous and docking at 6:38 a.m. ET as scheduled, NASA officials confirmed. The autonomous spacecraft used its onboard sensors and thrusters to gently attach to the station’s forward port on the Harmony module, completing the 34th commercial resupply mission under NASA’s Commercial Resupply Services program.

LIVE: Watch as our next cargo mission docks to the @Space_Station after launching on May 15. The SpaceX Dragon spacecraft is scheduled to arrive at the station at about 6:38am ET (1038 UTC), where it will remain until its return to Earth this summer. https://t.co/Eb7zR2J9lc

— NASA (@NASA) May 17, 2026

Live video from the station showed the Dragon slowly approaching the orbiting laboratory before the soft capture mechanism engaged, followed by a series of latches securing the spacecraft firmly in place. Ground controllers at SpaceX’s Hawthorne, California, mission control and NASA’s Johnson Space Center in Houston monitored every step of the approach, confirming all systems performed flawlessly.

“This is another textbook docking by our commercial partners at SpaceX,” NASA astronaut and station commander Matthew Dominick radioed from orbit shortly after capture. “The Dragon is secure and ready for the crew to begin unloading the cargo.”

The mission, designated CRS-34, carries critical supplies including fresh food, clothing, crew care items, hardware for ongoing science experiments and new equipment for the station’s life support systems. Among the scientific payloads are experiments studying plant growth in microgravity, materials science samples and biological research that could lead to medical breakthroughs back on Earth.

Routine Success Highlights Commercial Space Era

The smooth arrival marks yet another routine success for SpaceX’s Dragon spacecraft, which has become the workhorse of the International Space Station’s supply chain since its first flight in 2012. What was once considered groundbreaking technology has now become almost commonplace, with SpaceX completing dozens of missions that keep the orbiting laboratory fully stocked and operational.

NASA officials noted that the reliability of commercial partners like SpaceX has allowed the agency to focus more resources on deep space exploration goals, including Artemis missions to the Moon and eventual human flights to Mars. The Commercial Resupply Services program, which began with both SpaceX and Northrop Grumman, has dramatically reduced costs compared to the space shuttle era while increasing flight frequency.

“Commercial cargo has been a game-changer for the space station program,” said NASA’s Commercial Crew and Cargo Program Manager Steve Stich. “SpaceX has delivered consistent, on-time performance that keeps science moving forward every single day on the ISS.”

The Dragon is scheduled to remain docked to the station until early July, when it will undock and return to Earth with several thousand pounds of scientific samples, used hardware and trash for a splashdown off the coast of California. The spacecraft’s pressurized trunk and unpressurized trunk allow it to carry both internal cargo and external payloads that can be robotically installed on the station’s exterior.

Partnership Between NASA and SpaceX

The collaboration between NASA and SpaceX exemplifies the agency’s shift toward commercial partnerships that began in the early 2000s. After the space shuttle program ended in 2011, NASA turned to private industry to fill the gap in crew and cargo transportation to the station. SpaceX’s Dragon became the first commercial spacecraft to dock with the ISS, and the company has since launched more than 40 cargo missions.

This latest flight continues that legacy while also supporting broader scientific goals. Experiments aboard the Dragon include studies on how plants respond to microgravity, which could inform future long-duration spaceflight and improve agricultural techniques on Earth. Other payloads focus on materials that could lead to stronger, lighter alloys for aerospace applications.

The International Space Station itself continues to serve as a vital platform for international cooperation and cutting-edge research. The orbiting laboratory, which has been continuously crewed since November 2000, supports experiments from NASA, international partners and private researchers. Cargo missions like this one are essential to sustaining the crew of seven astronauts and cosmonauts currently aboard.

Broader Implications for Commercial Spaceflight

SpaceX’s success with Dragon has paved the way for even more ambitious commercial space efforts. The company’s Starship vehicle is in development for future crewed missions to the Moon and Mars, while other private companies are developing their own cargo and crew vehicles. The routine nature of Dragon dockings has normalized commercial spaceflight in ways that seemed impossible just two decades ago.

Industry experts say the model pioneered by NASA’s commercial cargo program has reduced costs dramatically and increased innovation. Where the space shuttle program cost billions per flight, commercial cargo missions now deliver supplies at a fraction of the price while maintaining high safety standards.

The docking also highlights the growing role of private industry in low Earth orbit operations. As NASA focuses more resources on Artemis and deep space exploration, companies like SpaceX are taking on greater responsibility for sustaining the International Space Station and preparing for future commercial space stations that could succeed it after its planned retirement in the early 2030s.

Public and Scientific Interest

The live broadcast of the docking drew thousands of viewers online, with many commenting on how spaceflight has become almost routine. Social media reactions ranged from excitement about the scientific payloads to appreciation for the engineering achievement behind every successful mission.

For the astronauts aboard the station, the arrival of fresh supplies is always a welcome event. Crew members typically begin unloading the Dragon shortly after docking, prioritizing time-sensitive biological experiments and perishable food items.

The mission also carries equipment to support ongoing research into human health in space, including studies on how the body adapts to long-duration missions. Such research is critical as NASA and its partners prepare for future crewed missions beyond low Earth orbit.

As the Dragon settles into its new home on the station, attention now turns to the next series of experiments and the continued operation of this unique international laboratory in space. The success of this latest resupply mission underscores the strength of the partnership between NASA and SpaceX and the bright future of commercial spaceflight.

The International Space Station continues to serve as a beacon of international cooperation and scientific discovery, with private companies like SpaceX playing an increasingly important role in keeping it operational. As commercial spaceflight becomes more routine, the benefits extend far beyond the station itself, paving the way for a new era of exploration and innovation in space.

“Sometimes we get we get caught up in talking about why we need to include people from the North East, or people from working-class backgrounds, for the ‘sake of the arts’, but voices from working-class backgrounds have always enriched culture for the better because they have different stories to tell.”

MANCHESTER, England — Venezuela Fury, the 16-year-old daughter of heavyweight boxing champion Tyson Fury, has married her 18-year-old boyfriend Noah Price in a private ceremony, the family confirmed Saturday through a social media post that quickly went viral and sparked intense public debate about young celebrity marriages.

Venezuela shared an emotional TikTok video early Saturday morning showing her getting ready for the big day, smiling widely as she prepared with family and friends. The clip, which has already amassed millions of views, features her excitement as she tried on her dress and received support from her famous father and mother Paris Fury. The wedding took place in a private, low-key ceremony attended by immediate family and close friends, according to multiple reports from people familiar with the event.

Tyson Fury, the undefeated WBC heavyweight champion known as “The Gypsy King,” has not yet publicly commented on his daughter’s marriage, but sources close to the family say he and Paris gave their blessing to the union. The couple reportedly dated for more than a year before deciding to marry, with friends describing them as deeply committed despite their young ages.

The news has triggered a wave of reactions across social media, with some praising the young couple’s happiness while others express concern about the legal and emotional implications of marriage at such a young age. In the United Kingdom, the legal age of marriage is 18, though parental consent can sometimes allow younger unions under specific circumstances. Legal experts note that while possible, such marriages remain relatively rare and often draw significant public scrutiny.

Family Background and Upbringing

Venezuela Fury is the eldest daughter of Tyson and Paris Fury, who have six children together. The Fury family has been open about their tight-knit, traditional Traveller community values, often sharing glimpses of family life on social media and in documentaries. Tyson has spoken frequently about the importance of family, faith and loyalty, themes that appear to influence his daughter’s decision to marry young.

Paris Fury, a popular author and influencer, has built a large following by documenting their family life. She has previously addressed the challenges of raising children in the spotlight while trying to maintain privacy and normalcy. The family’s decision to keep the wedding private reflects their desire to protect Venezuela from excessive media attention during this personal milestone.

Noah Price, 18, is described by those close to the couple as a grounded young man from a similar background. He is not a public figure, and little is known about his personal life beyond his relationship with Venezuela. Friends say the pair bonded over shared values and mutual support, with Noah often attending family events and boxing matches alongside the Furies.

Public Reaction and Social Media Storm

The announcement triggered immediate and polarized responses online. Supporters celebrated what they called a beautiful young love story, with many commenting on Venezuela’s radiant smile in her preparation video. Hashtags such as #VenezuelaFuryWedding and #FuryFamily quickly trended, with thousands of well-wishes pouring in from fans of Tyson Fury’s boxing career.

Critics, however, raised concerns about the appropriateness of marriage at 16, questioning whether Venezuela is emotionally and legally prepared for such a commitment. Child advocacy groups have used the story to call for stronger protections and awareness around teenage relationships and marriage. Some commentators pointed to the challenges faced by children of high-profile parents, who often grow up faster than their peers due to public exposure.

Mental health experts note that while some young marriages succeed, statistics show higher risks of divorce and challenges when partners marry very early. However, they also emphasize that every situation is unique and that strong family support can make a significant difference.

Tyson Fury’s Perspective on Family

Tyson Fury has often spoken about the importance of family in his life and career. In interviews, the boxing champion has credited his wife Paris and their children with keeping him grounded amid the pressures of professional fighting. He has expressed traditional views on relationships and marriage, frequently stating his desire for his children to find stable, loving partnerships.

The heavyweight champion’s own life has been marked by public struggles with mental health, which he has discussed openly to help reduce stigma. Supporters hope that the close-knit Fury family structure will provide a strong foundation for Venezuela as she enters this new chapter.

Broader Cultural Context

The story highlights evolving attitudes toward marriage and family in modern celebrity culture. While many young stars focus on careers before settling down, some high-profile families from traditional or religious backgrounds continue to support earlier marriages. The Fury family’s Traveller heritage plays a significant role in their values, with community and family often prioritized at younger ages.

The intense media interest also reflects the public’s fascination with the personal lives of sports and entertainment figures. Tyson Fury’s larger-than-life personality has made his family a point of public curiosity, turning even private milestones into widely discussed events.

As the young couple begins their married life, they will likely face both support and scrutiny. Navigating marriage at a young age while dealing with public attention presents unique challenges, but the strong family backing from the Furies may help them build a stable foundation.

Venezuela’s TikTok video capturing her wedding morning excitement has become a focal point for the story, humanizing the teenager and showing her genuine happiness. The clip, which features her laughing with bridesmaids and receiving a hug from her mother, has been viewed as a sweet moment amid the controversy.

For now, the focus remains on the young couple’s joy and the family’s support. Tyson Fury and Paris have built a public image around love, loyalty and family values, and this latest chapter appears consistent with that message, even as it sparks important conversations about youth, marriage and celebrity.

As Venezuela and Noah begin their journey together, the world will be watching to see how this young couple navigates life in the spotlight while building their future on their own terms.

India’s decision to restrict silver imports could make silver investments more expensive for domestic buyers in the coming months, even if global prices remain relatively stable.

The government on Saturday placed imports of silver bars with 99.9% purity and several semi-manufactured silver products under the “restricted” category with immediate effect. The move comes days after India raised import duties on gold and silver to 15% from 6% as authorities attempt to curb imports and reduce pressure on foreign exchange reserves.

India is the world’s largest silver consumer and imports more than 80% of its silver requirements.

Analysts say the latest restrictions are unlikely to completely halt silver imports, but they could significantly alter how the metal enters the country and increase domestic premiums.

“The silver import restriction does not mean India has shut the door, it means the entry is now guarded,” said Jateen Trivedi, Vice President, Research Analyst, Commodity and Currency at LKP Securities.

According to Trivedi, silver imports will now be channelled mainly through nominated agencies such as RBI-authorised banks, DGFT-approved entities and jewellers operating through bullion exchanges.
“For the domestic market, that almost always translates into higher premiums,” he said. That means Indian investors may end up paying more for physical silver compared with global benchmark prices.Analysts said one of the key indicators to monitor going forward will be the MCX-LBMA spread, the difference between domestic silver prices on India’s Multi Commodity Exchange and international London benchmark prices.

“The MCX-LBMA spread is the number to watch, because that gap shows you exactly how much extra Indians are paying versus the world price,” Trivedi said.

India imported a record $12 billion worth of silver during FY26, sharply higher than $4.8 billion in the previous financial year. In April alone, silver imports surged 157% year on year to $411 million, according to trade ministry data.

Demand over the last year has increasingly shifted towards investment buying rather than traditional jewellery and silverware consumption. Silver exchange-traded funds also witnessed record inflows as investors looked for alternatives amid rising gold prices and broader market volatility.

“Silver had been trading at a discount after the government raised import duties, but it is likely to start trading at a premium in the coming weeks,” Chirag Thakkar, Chief Executive of Amrapali Group Gujarat, said earlier.

For retail investors, that could mean higher prices for silver coins, bars and jewellery even if international spot silver prices do not rise sharply.

Trivedi said the impact on global silver prices may remain limited because India, despite being a major consumer, does not determine international benchmark pricing.

“Internationally, the impact on spot silver should be muted. India is a large consumer but not a price setter for global benchmarks,” he said.

However, he noted that trade flows could shift regionally if import demand starts getting rerouted through channels such as the UAE Comprehensive Economic Partnership Agreement tariff quota mechanism.

“What could shift is physical trade flow. If demand gets rerouted through routes like the UAE CEPA TRQ, you will see regional premiums in Dubai or Hong Kong adjust,” he said.

The restrictions could also affect domestic silver ETFs and listed refiners because investors may increasingly turn to financial products when physical supply becomes harder or more expensive to access.

“Listed refiners and ETF pricing in India will also reflect the tightness, because they become the easiest access point when physical supply is gated,” Trivedi added. “Two policy moves in three days point to forex management,” he said, referring to both the import duty hike and the fresh restrictions.

India imports most of its silver from the UAE, Britain and China. Apart from jewellery and investment products, silver is also widely used in industrial applications including solar panels, electronics and electrical equipment.

(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of Economic Times)

NEW YORK — Taylor Swift and Travis Kelce turned heads once again Friday night as the couple stepped out in elegant attire for an exclusive private event in Brooklyn, fueling intense speculation about an impending engagement or wedding amid their high-profile romance.

The pop superstar and Kansas City Chiefs tight end were spotted arriving at a members-only venue in the trendy Dumbo neighborhood, both dressed to impress. Swift wore a sleek black midi dress with subtle sparkle, while Kelce opted for a tailored navy suit with an open-collar shirt, radiating the easy chemistry that has captivated fans since their relationship went public in 2023.

Sources close to the couple confirmed it was a low-key gathering of close friends and industry insiders celebrating a mutual friend’s milestone, but the sighting has only intensified rumors that Swift and Kelce could be preparing to take the next step. Social media exploded within minutes of the first paparazzi photos surfacing, with hashtags #TaylorTravisWedding and #SwiftKelceEngaged trending worldwide.

The pair’s appearance comes at a pivotal moment. Swift, 36, is fresh off the final legs of her record-breaking Eras Tour and is reportedly focusing more on personal life after years of relentless global touring. Kelce, 36, just wrapped another strong NFL season and has expanded his media and business portfolio, including his popular “New Heights” podcast with brother Jason Kelce.

Relationship Milestone Moments

Since going public in September 2023, Swift and Kelce have become one of the most photographed and discussed couples in the world. Their relationship has blended football Sundays at Arrowhead Stadium with glamorous nights at award shows, film premieres and private getaways. Kelce has attended multiple Eras Tour shows, famously singing along and wearing friendship bracelets, while Swift has cheered loudly from suites during Chiefs games.

Insiders say the couple has grown even closer in recent months, spending significant time together in both Kansas City and New York. Friends describe them as genuinely happy and supportive of each other’s demanding careers. “They balance each other perfectly,” one source said. “Taylor brings creativity and depth, Travis brings fun and grounding energy. They’re in a really strong place.”

The Brooklyn event marked one of their rarer joint public appearances in New York this spring. Photographers captured the couple smiling and holding hands as they entered the venue, with Swift’s elegant look and Kelce’s sharp style drawing immediate comparisons to engagement announcement aesthetics.

Wedding Speculation Reaches Fever Pitch

Rumors of an engagement have circulated for months, reaching new heights after Kelce was spotted at a jewelry store in Kansas City and after Swift was seen with a close friend who is a wedding planner. Tabloids and social media accounts have analyzed everything from ring fingers to song lyrics for clues, though both Swift and Kelce have remained characteristically private about their future plans.

A source familiar with the couple’s inner circle told media outlets that while no official engagement has been announced, the pair has discussed long-term commitment seriously. “They’re not rushing anything, but they’re both at a point in life where they’re thinking about the future,” the source said. “This relationship feels different for both of them.”

Industry observers note that a Swift-Kelce wedding would be one of the biggest celebrity events in years, potentially rivaling other high-profile unions in cultural impact. The combination of music’s biggest star and one of the NFL’s most charismatic players creates a unique crossover appeal that spans sports, entertainment and fashion.

Cultural Impact of America’s Power Couple

Swift and Kelce’s relationship has transcended typical celebrity romance. It has boosted NFL viewership among younger demographics, inspired countless memes and social media trends, and even influenced fashion and consumer brands. Kelce’s jersey sales skyrocketed after they went public, while Swift’s music saw renewed streaming spikes during football season.

Their ability to maintain a relatively private relationship despite intense public scrutiny has earned admiration. Both have spoken positively about how the other supports their careers — Kelce attending Swift’s shows and Swift becoming a regular at Chiefs games. The couple has also used their platform for positive causes, including donations to various charities and community initiatives.

What’s Next for Swift and Kelce

Swift is reportedly working on new music in a more relaxed environment, possibly preparing for a new album cycle in 2027. Kelce remains committed to the Chiefs, entering the later years of his Hall of Fame career while building his media empire.

Friends say the couple is enjoying this chapter of balancing high-profile careers with a grounded personal life. Whether wedding bells are imminent or not, their Brooklyn appearance has reminded fans why this pairing continues to capture the public imagination.

As speculation swirls, one thing remains clear: Taylor Swift and Travis Kelce continue to write their own love story on their own terms, proving that even in the spotlight, genuine connection can still feel refreshingly real. The world will be watching closely for whatever comes next in this modern fairy tale.

For now, the private Brooklyn event serves as another charming chapter in their very public romance — one that blends red carpet glamour with down-to-earth affection, keeping fans hooked as they root for the couple’s happiness.