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Credit card spends moderate in Jan from festival highs in Dec

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Credit card spends moderate in Jan from festival highs in Dec
Mumbai: Expenditure through credit cards moderated in January from a December festival-ledhigh, central bank data showed, although the metric still climbed more than 8% from a high January 2025 base to indicate normalization of the growth rate that had breached into teens earlier.

In January, Indians spent Rs 1.99 lakh crore through credit lines offered by their banks, down from Rs 2.05 lakh crore in the previous month, but higher than the Rs 1.82 lakh crore they had spent last January.

“Credit card spending growth moderated in January, marking a natural cooldown after the festive surge,” said Sweta Padhi, analyst, IDBI Capital. “Industrywide growth has slowed from the midteen levels seen last year, with the festive spike reverting to the 8% range and yet to see a meaningful revival.”

The number of active cards rose to 116.6 million, while net new additions slowed to 868,000, compared with more than 900,000 in December 2025. The slower pace of additions reflects tighter underwriting standards and regulatory discipline. Large private banks, however, remained the key contributors to incremental card additions.

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RATHER CIRCUMSPECT

“The broader deceleration in card additions reflects tighter underwriting norms and regulatory caution around unsecured lending,” Padhi said. “While near-term momentum appears steady rather than weakening, we expect growth to remain calibrated, with issuers focusing on portfolio quality, activation levels and fee-based income rather than aggressive expansion.”
Among individual issuers, HDFC Bank added 310,000 cards, while ICICI Bank added 122,000. SBI Cards added 92,226 cards and Axis Bank added 87,912. Kotak Mahindra Bank, which has been gradually reviving its credit card business, added 35,968 cards. IndusInd Bank, however, continued to see a rundown in its card base, with total net cards declining by more than 100,000.
“Our credit card business is currently stalled and we are cautious, as system-wide risks remain elevated,” Rajiv Anand, MD & CEO, IndusInd Bank, told ET in a recent interview.

“We have recently hired a new head of credit cards to re-evaluate the portfolio from both customer and product perspectives. We intend to reignite the business once our systems and processes are fully stabilised. Once we get things right, we will grow that business again.”

Transaction volumes remained flat sequentially but recorded a robust 25% YoY growth, indicating resilient usage trends despite moderation in overall spends. While private sector banks continue to dominate market share and remain relatively risk-averse, public-sector banks (PSBs) are gradually expanding their share of credit card spending. This growth has been driven by higher usage among existing cardholders, strong festive demand and deeper penetration into salaried customer segments. The share of PSBs in credit card spending increased 4.5 percentage points year-on-year to 22.2% in December 2025, according to RBI data, largely led by major lenders.

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Creators Scrap Seasons 4 and 5 in Surprise Farewell

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Smiling Friends to End with Season 3

In a move that has stunned the animation community and sent shockwaves through the Adult Swim fanbase, creators Michael Cusack and Zach Hadel officially announced on February 25 and 26, 2026, that their cult-hit series Smiling Friends will conclude after its third season. This decision comes as a massive reversal of earlier industry reports, as the show had been formally renewed for fourth and fifth seasons in June 2025.

Smiling Friends to End with Season 3
Smiling Friends to End with Season 3

The “Not a Bit” Announcement

The news broke via a synchronized video and audio message released across Adult Swim’s social media and YouTube channels. Zach Hadel, known to fans as the voice of Charlie, addressed the audience with uncharacteristic sobriety.

“I’m gonna cut right to the chase,” Hadel stated in the announcement. “This is not a bit, this is not a joke. Michael and I are here to announce that ‘Smiling Friends’ will be ending after Season 3 is done. We know that’s super disappointing to hear, but we’ve put 110% into this, and we want to go out on top.”

The creators emphasized that while the network and their representatives were eager for the show to continue—with some joking about reaching “Season 80″—the decision to pull the plug was entirely their own.

Why Now? Burnout and Artistic Integrity

The primary driver behind the sudden conclusion is creative burnout. Cusack and Hadel, who are famously hands-on with every aspect of the show—from writing and voice acting to character design and final animation reviews—explained that the intense workload has taken its toll.

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“To be perfectly honest, after we finished Season 3, Zach and I just both had the same feeling where we felt pretty burnt out after putting years and years into this,” Cusack explained. The duo expressed a deep-seated fear of the show becoming “slop” or overstaying its welcome, citing a desire to avoid the “zombie” status often attributed to long-running animated sitcoms.

The “Lost” Episodes: A Final Encore

While the main run of Season 3 concluded in late 2025, fans have one final date to mark on their calendars. The creators confirmed that two unreleased “straggler” episodes, produced during the Season 3 cycle but held back for polish, will premiere on April 12, 2026, at 11 p.m. ET on Adult Swim.

Hadel clarified that these are not intended to be a “grand, serialized finale” in the traditional sense, but rather a “fond encore” that rounds out the Season 3 order to a total of 10 episodes. These episodes are expected to be added to the Max streaming library the following day.

Scrapping the Future: The Status of Seasons 4 and 5

The most shocking aspect for many was the definitive cancellation of the previously announced Seasons 4 and 5. In June 2025, The Hollywood Reporter had confirmed a two-season pickup for the show following its massive success on Max. However, the creators have officially scrapped these renewals.

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Adult Swim leadership reportedly supported the decision, telling the creators: “If you’re not feeling like making a cartoon, we’re not going to stop you. Go have a break. Either come back or don’t.”

Legacy of a Surreal Masterpiece

Smiling Friends debuted as an unannounced April Fools’ pilot in 2020 and grew into a global phenomenon. Its blend of grotesque, elastic animation, deadpan dialogue, and surprisingly grounded takes on mental health made it a flagship for the “Post-Rick and Morty” era of Adult Swim.

Milestone Date Achievement
Series Premiere January 9, 2022 Highest-rated new Adult Swim original in 5 years.
Season 2 Launch April 1, 2024 Consistently ranked in Max’s Top 10 Trending Series.
Series Finale Announcement Feb 25, 2026 Creators cite burnout and quality control.
Final “Straggler” Episodes April 12, 2026 The official end of the Smiling Friends regular run.

What’s Next for Cusack and Hadel?

The creators were quick to reassure fans that this is not the end of their partnership. Both are already looking toward new, unannounced projects that will allow them to “refresh” their creative palettes. Cusack likened the move to Paul McCartney forming the band Wings after the breakup of The Beatles—an opportunity to start again with a clean slate.

While the “Smiling Friends” company may be closing its doors for now, the door remains “cracked” for potential one-off specials or a movie in the distant future, should the creators feel the spark again. For now, however, Pim and Charlie’s mission to make the world smile concludes on their own terms, leaving behind a “perfect little box set” of surrealist comedy.

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Analysis: Final take-off for tough Fokkers

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Analysis: Final take-off for tough Fokkers

ANALYSIS: QantasLink prepares for a new era in WA aviation.

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What to Expect From the iPhone 17e Launching in March 2026?

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iPhone 17e Release Date

Apple is expected to unveil the iPhone 17e, a new entry-level model in its flagship lineup, at a special event on March 4, 2026, marking the company’s first major hardware launch of the year and introducing an affordable 2026 iPhone positioned between the standard iPhone 17 and the previous-generation iPhone 16e.

iPhone 17e Release Date
iPhone 17e Release Date

The iPhone 17e—also referred to in leaks as the successor to the iPhone 16e—aims to broaden Apple’s reach in the midrange segment while maintaining premium features and seamless integration with the iOS 19 ecosystem. Industry analysts and supply chain reports indicate the device will carry a starting price around $599, undercutting the standard iPhone 17 expected to launch in September 2026 at $799 or higher.

Leaked specifications, compiled from Weibo tipsters, Bloomberg’s Mark Gurman, and analyst Ming-Chi Kuo, point to a 6.1-inch OLED display with Dynamic Island (replacing the notch), powered by the A19 chip manufactured on a 3-nanometer process by TSMC. The device is rumored to feature 8GB of RAM—matching the iPhone 17 series—to support advanced Apple Intelligence features, including on-device generative AI tools introduced in iOS 18 and expanded in iOS 19.

Camera upgrades are anticipated to include a 48-megapixel main sensor with a new variable aperture system for better low-light performance and depth control, paired with a 12-megapixel ultra-wide lens. The front-facing camera is expected to remain at 12 megapixels but benefit from improved processing for selfies and video calls. The iPhone 17e is also rumored to include the Action Button, USB-C port, and a redesigned aluminum frame with enhanced durability.

Battery life is projected to improve significantly over the iPhone 16e, thanks to efficiency gains from the A19 chip and a larger internal battery. Leaks suggest up to 20-22 hours of video playback, positioning the model as a strong contender for users prioritizing longevity without the premium price of Pro variants.

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Color options are expected to include classic tones—Black, White, Blue, Green, and Pink—with a potential deep red or burgundy finish tested internally for the 2026 lineup. The device will ship with iOS 19, featuring expanded Apple Intelligence capabilities, improved Siri conversational abilities, and enhanced privacy controls.

The March 4 event, dubbed “Spring Loaded” or a similar branding, is anticipated to focus on accessibility and affordability. Apple is expected to highlight the iPhone 17e alongside software updates for existing devices, potential new color variants for iPhone 16 models, and expanded Apple Intelligence availability in additional languages and regions. Some analysts speculate a low-cost iPad or Mac accessory could join the lineup, though the iPhone 17e remains the centerpiece.

The timing reflects Apple’s strategy to refresh its entry-level offerings mid-cycle, capitalizing on demand for 5G-capable, AI-ready devices at lower price points. The iPhone 17e is positioned to compete with Android midrange flagships from Samsung, Google, and Xiaomi, offering a balance of performance, ecosystem integration, and longevity through extended software support—likely seven years of major iOS updates.

Pre-order details have not been officially confirmed, but Apple typically opens reservations shortly after the event, with devices shipping within one to two weeks. Carriers and retailers, including Best Buy, Amazon, and Samsung’s competitors, are expected to offer trade-in credits, carrier deals, and bundled accessories to drive early adoption.

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Analysts project the iPhone 17e could account for 15-20% of total iPhone 17-series shipments in calendar 2026, helping Apple maintain market share in price-sensitive regions like India, Southeast Asia, and Latin America. The model also addresses demand for a compact, powerful iPhone in markets where larger screens are less popular.

While official details remain under wraps—Apple rarely comments on unreleased products—leaks suggest the iPhone 17e will emphasize practical upgrades over flashy gimmicks. The smaller Dynamic Island, faster chip, improved camera, and longer battery life aim to deliver a refined experience at an accessible price, reinforcing Apple’s strategy of tiered offerings across the lineup.

As March 4 approaches, anticipation is building for Apple’s first major hardware announcement of 2026. The iPhone 17e launch could set the tone for the year, bridging the gap between entry-level and premium devices while expanding Apple Intelligence access to a broader audience.

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Mortgage Rates Are Going Down. The Drop Isn’t All Because of Trump.

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Mortgage Rates Are Going Down. The Drop Isn't All Because of Trump.

Mortgage rates are nearly a percentage point lower than they were when Trump took office. The president’s direct actions are only part of the story.

Mortgage rates typically move with the 10-year Treasury yield. That yield, in turn, is connected to expectations for the economy and monetary policy in the coming decade. It rose, along with mortgage rates, in 2022 and 2023 as mounting inflation proved difficult to control without rate hikes.

The 10-year Treasury yield has broadly moved lower over the past year, helped in part by a slowdown in shelter inflation. Because of how shelter is measured, the inflation reading notably lags private measures of rents, which began to show signs of moderation in 2023, Barron’s_ reported. Soft inflation data and the expectation of future Federal Reserve rate cuts have helped—though the ride lower has been bumpy.

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DUG shares up despite court woes

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DUG shares up despite court woes

Shares in DUG Technology have lifted by over 10 per cent following the release of strong financials, and despite its ongoing US court action with a subsidiary of oil and gas giant Shell.

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Deutsche Telekom AG Q4 profit falls 9% on dollar hit; trims Germany outlook

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Deutsche Telekom AG Q4 profit falls 9% on dollar hit; trims Germany outlook

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A Comprehensive Guide to Business Opportunities in Indonesia 2026

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A Comprehensive Guide to Business Opportunities in Indonesia 2026

“Introduction to Doing Business in Indonesia 2026” offers insights into Indonesia’s economy, foreign investment, trade conditions, manufacturing, and business environment, aiding foreign enterprises and investors.

New Publication on Indonesia’s Business Environment

The latest release, Introduction to Doing Business in Indonesia 2026, by Dezan Shira & Associates, is now available for download at the Asia Briefing Publication Store. This comprehensive guide offers valuable insights for foreign investors and enterprises interested in Indonesia’s evolving market landscape.

Economic Overview and Investment Trends

Indonesia’s economy grew steadily at around 4.9–5.0% through 2025, driven more by domestic investment than external demand. Foreign direct investment remained significant, totaling approximately IDR 900.9 trillion (US$53–55 billion). The shift toward more cautious, long-term capital commitments highlights a maturing investment environment, supported by a stronger internal economic base and increased domestic participation.

Trade Dynamics and Sector Performance

Trade exposure to external policies became evident in 2025, as U.S. tariffs temporarily exceeded 30% on certain exports, impacting manufacturing activity. The manufacturing sector experienced volatility, with the Purchasing Managers’ Index dipping into contraction early in the year but later rebounding. While growth remains sensitive to external factors, Indonesia’s economic resilience continues to strengthen.

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Comprehensive Business Guide

Introduction to Doing Business in Indonesia 2026 offers a detailed overview aimed at foreign investors seeking to navigate Indonesia’s business climate. It covers key sectors, investment strategies, legal considerations, and upcoming economic opportunities, serving as a vital resource for strategic decision-making.



Read the original article : An Introduction to Doing Business in Indonesia 2026 – New Publication from Dezan Shira & Associates

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Prysmian posts mixed Q4 results with 2026 guidance

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Prysmian posts mixed Q4 results with 2026 guidance

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Australia Issues Evacuation Order for Families of Diplomats in Israel, Lebanon Amid US-Iran Tensions

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Australian Army Ranks 17th Globally in 2026 Military Power Index,
Israel flag
Taylor Brandon / Unsplash

Australia has ordered the evacuation of the families of the diplomats in several countries in the Middle East.

The order comes as tensions continue to run high between Iran and the United States.

Evacuation Orders Issued for Diplomats’ Families

According to news.com.au, the evacuation order was given to Australian families in Lebanon and Israel.

Voluntary departures are also being offered for those in the following countries:

  • Jordan
  • Qatar
  • United Arab Emirates

“Regional tensions remain high and there continues to be a risk of military conflict,” the Australian government’s Smartraveller said. “Conflicts in the Middle East could result in airspace closures, flight cancellations and other travel disruptions.”

Iran, as of writing, is on Level 4 of Smartraveller’s travel warnings, which means that Australians should not travel to the Middle Eastern country.

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“Do not travel to Iran due to the risk of arbitrary detention and the volatile regional security situation,” Smartraveller says on its website.

Potential Military Conflict Between US and Iran

The evacuation of diplomats’ families comes as US President Donald Trump continues to build a strong military presence in the region. Trump is reportedly considering a limited military strike.

The two countries are working to see if they can reach a deal regarding Iran’s nuclear programme.

According to The Guardian, the US maintains that Iran should stop rebuilding its nuclear programme, but Iran has accused Trump of spreading lies.

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AusAlert Community Testing Scheduled for June, Nationwide Testing to Take Place in July

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People on Phones
People on Phones
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AusAlert, the new national emergency system, is set to undergo testing in July.

This means most Australians will receive a mobile phone alert that month as part of the test.

AusAlert to Undergo Nationwide Testing in July

According to ABC News, the nationwide test will take place on July 27 at 2 p.m. AEST. As for who are set to receive the test alert, everyone in the country with a compatible mobile device will receive one.

The report also notes that AusAlert is expected to be fully operational by October of this year.

According to the National Emergency Management (NEMA), community tests have also been scheduled for June. The schedule of the community tests is as follows:

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  • 10 June – Majura, Australian Capital Territory (micro test at Emergency Services Agency headquarters)
  • 15 June – Launceston, Tasmania
  • 16 June – Port Douglas, Queensland
  • 17 June – Liverpool, New South Wales
  • 18 June – Tennant Creek, Northern Territory, and Geelong, Victoria
  • 19 June – Goomalling, Western Australia
  • 20 June – Port Lincoln, South Australia
  • 21 June – Queanbeyan area, Australian Capital Territory and New South Wales
    (cross-border test)

What Else to Know About AusAlert

As the national emergency warning system, AusAlert will inform Australians of the following:

  • What the emergency is
  • Where it is happening
  • How serious it is
  • What you should do
  • Who the message is from
  • Where to find more information

According to NEMA, an AusAlert can be issued for the following emergencies:

  • Natural hazards, such as bushfires, floods, cyclones and tsunamis
  • Public safety and security threats, such as serious public safety incidents or terrorism
  • Biosecurity incidents, such as animal or plant disease and biohazard outbreaks
  • Health emergencies, such as pandemics or other national public health events

Emergency Management Minister Kristy McBain said that two types of alerts can be issued under this system. Priority alerts have been described by ABC News as less intrusive and allows users to opt out of receiving the messages.

Critical alerts, on the other hand, require more immediate action from the receiver of the message. These alerts will have a fixed volume, unique ringtone, and vibration. These cannot be disabled be the receiver.

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