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Opinion: Budget downplays recent market moves

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Opinion: Budget downplays recent market moves

Against the expectations of many, including the WA government, the outlook for iron ore prices is rosy.

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BLS International shares soar 9% as Q4 PAT jumps 29% YoY to Rs 187 crore

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BLS International shares soar 9% as Q4 PAT jumps 29% YoY to Rs 187 crore
Shares of BLS International Services gained as much as 9% to their day’s high of Rs 286.30 on the BSE on Wednesday after the company reported a 29% jump in Q4 net profit to Rs 187 crore, up from Rs 145 crore in the year-ago period.

The company’s revenue from operations came in at Rs 814.6 crore, a 17.6% increase from Rs 693 crore posted in the corresponding quarter of the previous financial year. EBITDA rose 17% to Rs 204 crore, while margins were flat at 25% during the quarter under review.

The Visa & Consular business reported revenue of Rs 471.7 crore in Q4FY26, registering a 7% year-on-year increase compared with Rs 440.8 crore in the corresponding quarter last year.

Revenue from the Digital Business rose 36% year-on-year to Rs 342.8 crore during the quarter, compared with Rs 252 crore in Q4FY25. The growth was mainly driven by strong traction in the business correspondent and loan distribution segments.

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During Q4FY26, the company commenced Cyprus visa operations in Kazakhstan, strengthening its presence in the CIS region and expanding access to visa facilitation services for applicants.


The company also launched Slovakia visa application services in Beirut, Lebanon, and Nairobi, Kenya, further expanding its footprint across the Middle East and Africa while supporting Slovakia’s diplomatic outreach efforts.
In another key development, the company partnered with IACCIA to offer trade document attestation services across 17 centres in India. The initiative aims to simplify and accelerate trade documentation processes for Indian businesses engaged with the 22 Arab League countries.BLS International is a global technology-enabled services provider that partners with governments and diplomatic missions across the world. The company mainly focuses on outsourced services such as visa processing, passport issuance, biometric enrolment and citizen e-governance solutions.

“Looking ahead, BLS International remains strategically focused on strengthening long‑term government partnerships, accelerating the scale‑up of technology-driven solutions, and pursuing disciplined, sustainable growth across global markets, while continuing to create long‑term value for all stakeholders,” the management said.

Also read: IPO investors brace for 73 lock-in expiries worth $34 billion in three months. Will your portfolio be impacted?

BLS International shares are down 11% since the start of 2026 and about 28% over the last one year.

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

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Lawyers back a winner in crowded AI field

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Lawyers back a winner in crowded AI field

Law firms have shifted their thinking on AI from ‘when’ to ‘how’ in the past 18 months.

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Ferrero to unveil cookie innovation

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Ferrero to unveil cookie innovation

The company is launching a snack collaboration between Mother’s Cookies and Nerds. 

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The AI bots are coming and the young are booing, not applauding

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The AI bots are coming and the young are booing, not applauding


The AI bots are coming and the young are booing, not applauding

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Slice Soda unveils functional dirty soda

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Slice Soda unveils functional dirty soda

The beverage is formulated to support gut health. 

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The Climate Question – The electric car boom in South East Asia

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The Climate Question - The electric car boom in South East Asia

Available for over a year

Electric vehicle sales are soaring in Thailand and Vietnam. What’s behind the boom? And will it help the climate?

Thais and Vietnamese are switching to electric cars in huge numbers – attracted by government subsidies and a more exciting range of EVs.

Jobs in the car industry are also up in both countries as a new generation of manufacturers compete for domination of the emerging electric market.

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But can the pace of growth last? Will the boom in electric cars reduce the chronic air pollution in cities like Bangkok? And will it help Thailand and Vietnam reduce their carbon emissions?

In this edition of The Climate Question, Host Jordan Dunbar chats to Ember’s Asian Energy Analyst, Lam Pham and Bloomberg’s Thailand Reporter, Patpicha Tanakasempipat.

Got a question or comment? Email us at theclimatequestion@bbc.com

Production team: Nik Sindle, Diane Richardson, Melanie Stewart-Smith
Production Coordinator: Brenda Brown.
Sound Mix: Jack Graysmark and Tom Brignell.
Editor: Simon Watts.

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Target (TGT) Q1 2026 earnings

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Target (TGT) Q1 2026 earnings

Facade of Target store in San Ramon, California, April 18, 2026.

Smith Collection/gado | Archive Photos | Getty Images

Target is set to report its fiscal first-quarter earnings and offer a read on the consumer Wednesday, as CEO Michael Fiddelke leads a turnaround plan for the retailer.

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The company has struggled to prove to investors that it can end its sales slump and win back brand loyalty from consumers. The earnings will come as Wall Street keeps a keen eye on a more selective consumer, hit by soaring gas prices and macroeconomic uncertainty.

Here’s what Wall Street is expecting for the retailer’s fiscal first quarter, based on a survey of analysts by LSEG:

  • Earnings per share: $1.46 expected
  • Revenue: $24.64 billion expected

Target said last quarter it expects net sales to rise about 2% for the fiscal year compared with last year, and it said it’s expecting revenue to climb during every quarter of the year.

Fiddelke, who assumed the role earlier this year, told CNBC last quarter that strong February sales indicated an upward trend and gave him “confidence” that Target can return to growth. Target on Tuesday took another step to try to boost that effort, naming former Walmart executive Jeff England as its chief supply chain officer as part of its efforts to revitalize the business.

Still, the company has been in a sales slump for multiple quarters, reporting falling revenue and decreasing customer traffic. While Target believes it’s poised to reverse those trends, its annual sales have been roughly flat for four years.

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Its stock has sank more than 40% over the past five years as of Tuesday’s close, but is up roughly 30% this year.

Chief Financial Officer Jim Lee said in March that Target would increase its spending this year to accelerate its turnaround, with capital expenditures totaling about $5 billion for the year, a more than $1 billion increase from last fiscal year. Those investments will go toward its supply chain and investment in its stores, among other areas.

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Sheriff Warns Nancy Guthrie Abduction Case Could Drag On With No Suspects Named

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Savannah Guthrie & Nancy Guthrie
Savannah Guthrie & Nancy Guthrie
Savannah Guthrie & Nancy Guthrie

TUCSON, Ariz. — Pima County Sheriff Chris Nanos said the investigation into the abduction of Nancy Guthrie, the 84-year-old mother of NBC “Today” co-anchor Savannah Guthrie, may stretch on for months as forensic testing continues and no suspects have been publicly identified more than 100 days after her disappearance.

In a candid interview with People magazine published May 14, Nanos emphasized the deliberate, methodical pace required in high-stakes cases like this one. “Nobody wants to make a false arrest. Nobody wants to falsely accuse somebody,” he stated, underscoring the sheriff’s office commitment to building a case that can withstand courtroom scrutiny rather than rushing to judgment.

Nancy Guthrie vanished on February 1 after a family dinner in the upscale Catalina Foothills neighborhood north of Tucson. She was reportedly dropped off at her home by her daughter Annie Guthrie and son-in-law Tommaso Cioni. The next morning, family members reported her missing. Investigators discovered blood spatter on the front porch and along the walkway, signs of forced entry, and a tampered doorbell camera showing a masked individual.

The case has captivated national attention due to Savannah Guthrie’s prominent role on morning television. The family has offered a $1 million reward for information leading to Nancy’s safe return, and Savannah has made occasional emotional appeals while largely stepping back from daily broadcasts to focus on her family.

Sheriff Nanos revealed that multiple laboratories, including the FBI’s advanced forensic facility in Quantico, Virginia, are analyzing DNA evidence recovered from the blood at the scene. Officials are working to determine whether the genetic material belongs to Nancy Guthrie, a potential perpetrator, or both. The process is painstaking and time-consuming, especially when samples are small, degraded, or mixed.

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“I know we have DNA that is unknown — who the contributor or depositor is — but I think they’re getting closer to finding out who that was,” Nanos told People. He rejected any notion that the case has gone cold, stressing that active forensic work continues. “When the labs tell us, ‘Hey, there’s nothing else we can do,’ well, then maybe we’ve got a problem… we’ve got a cold case. But right now, the labs aren’t telling us that.”

The prolonged timeline reflects standard procedure in complex abduction cases where physical evidence is limited and no immediate witnesses have come forward. Extensive searches of desert areas surrounding Tucson have yielded no confirmed proof of life. Cryptocurrency ransom demands surfaced early in the investigation but led nowhere.

No suspects have been publicly named. While family members, including Annie Guthrie and Tommaso Cioni, cooperated with early searches of their properties, authorities have repeatedly stated there is no public evidence linking them to any wrongdoing. Online speculation and amateur sleuth theories have proliferated on platforms like Reddit and X, prompting officials to urge the public to avoid spreading unverified claims that could hinder the probe.

Nanos acknowledged the emotional toll on the Guthrie family and the broader community. “There’s frustration because people want to know,” he said. Yet he defended the cautious approach, noting that protecting constitutional rights and ensuring a fair process must take precedence. “At some point in time, someday we may have somebody in a courtroom that deserves his or her right to have a fair and impartial trial. The way you get that is through a fair and impartial investigation.”

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The Catalina Foothills neighborhood, known for its affluent homes and scenic views, remains on edge. Increased patrols and community vigils reflect ongoing concern. Neighbors have described Nancy as active and independent, making her sudden disappearance especially unsettling.

For Savannah Guthrie, the ordeal has been deeply personal. The Emmy-winning journalist has balanced professional duties with private grief, occasionally sharing memories of her mother on social media. The family has cooperated fully with investigators while requesting privacy as the case unfolds.

Forensic experts say DNA analysis from blood spatter can be particularly challenging. Advanced techniques, including genetic genealogy, are reportedly being used, which can take weeks or months to produce usable profiles for comparison against national databases. The extended timeline, while frustrating, is necessary to ensure any evidence is admissible in court.

The investigation involves multiple agencies, including the FBI, which has assisted with forensic resources and behavioral analysis. Door-to-door inquiries, extensive video review from nearby properties, and tip evaluation continue as part of the active probe.

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As the case surpasses the 100-day mark, it joins other long-term missing persons investigations that test law enforcement resources and family resilience. Nancy Guthrie left behind medication and personal items, raising immediate red flags that this was not a voluntary disappearance.

Community support has been strong, with local organizations offering assistance to the family and volunteers participating in searches. However, officials continue to warn against interference from amateur investigators, noting that trespassing and spreading misinformation can complicate official efforts.

The sheriff’s office has activated its emergency operations protocols and continues treating the matter as a high-priority abduction case. Anyone with information is urged to contact the Pima County Sheriff’s Department or the FBI tip line. Anonymous reporting options remain available.

Nancy Guthrie’s disappearance has highlighted vulnerabilities in even affluent, seemingly safe neighborhoods. The tampered doorbell camera and blood evidence suggest a deliberate act, yet the lack of clear motive or immediate witnesses continues to puzzle investigators.

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As forensic results are awaited, the Guthrie family and the Tucson community hold onto hope for answers. Sheriff Nanos’ latest comments reflect both realism about the challenges ahead and determination to pursue every lead until resolution is reached.

For Savannah Guthrie and her loved ones, each passing day without news brings renewed heartache. Yet the sheriff’s assurance that laboratories are making progress offers a thread of hope in what has become one of Arizona’s most widely followed missing persons cases in recent memory.

The coming weeks could prove pivotal as DNA analysis and other evidence are finalized. Until then, the investigation continues quietly but steadily, with officials reminding the public that even small details could help bring Nancy Guthrie home.

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Sensex drops 600 points, Nifty below 23,450. 6 key factors behind today’s D-St rout

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Sensex drops 600 points, Nifty below 23,450. 6 key factors behind today's D-St rout
Indian stock markets opened deep in the red on Wednesday, with the Sensex and Nifty falling around 0.8% each as the rupee’s sharp decline and other macro concerns dampened investor sentiment.

The Sensex declined more than 600 points to slip below the 74,600 mark, while the Nifty 50 fell over 190 points to trade below 23,450. This came as India VIX, which measures market volatility, rose more than 1% to hover near 18.93 in morning trade.

Shares of Tata Steel, Zomato-parent Eternal, Bharat Electronics (BEL), Bajaj Finance, M&M, Maruti Suzuki, Power Grid, Hindustan Unilever, UltraTech Cement, SBI, Bajaj Finserv, and Tech Mahindra declined up to 2%, emerging as the top losers on the Sensex. Bucking the trend, TCS and Infosys traded with marginal gains. The bearish sentiment was broad-based, with the Nifty Midcap 100 and Nifty Smallcap 100 indices dropping around 1% each.

All sectoral indices traded in the red, with the Nifty FMCG, Nifty Auto, Nifty Realty, and Nifty Metal indices falling more than 1% each. Around 1,879 stocks declined on the NSE, while 598 advanced and 83 remained unchanged.

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“While fourth-quarter earnings continue to underscore the resilience of domestic economic momentum, market focus is increasingly pivoting toward mounting inflationary pressures. Concerns over potential earnings downgrades for Q1FY27 are gaining traction, driven by higher-than-anticipated WPI readings, the gradual pass-through of elevated fuel prices, and persistently firm bond yields,” said Vinod Nair, Head of Research at Geojit Investments.

Key factors dampening the sentiment on Dalal Street today:

1) Rupee weakens to a fresh low, inches closer to 97

Rupee continued its free fall against the US dollar, hitting a fresh lifetime low of 96.8650 on Wednesday and eclipsing its previous all-time low of 96.6150, which it had hit yesterday. The currency is down 6% since the Iran war ⁠began in late February.
Rupee’s weakness comes as elevated crude oil prices and continued pressure on capital flows kept the currency under stress, said Jateen Trivedi, VP Research Analyst of Commodity and Currency at LKP Securities. “Sustained higher crude prices are increasing concerns over India’s import bill and widening trade deficit, which is keeping sentiment weak for the rupee,” he said.“Market participants continue to prefer dollar buying and rupee selling as a hedge against ongoing volatility and external sector pressure. The broader trend remains weak, with the rupee expected to trade in a range of 96.25–97.00 in the near term,” according to the analyst.

2) Bond yields remain high

The 30-year US Treasury yields rose to 5.20% late on Tuesday, their highest level since 2007. Yields on the benchmark 10-year bonds, which have an impact on the mortgage rates, meanwhile, surged to their highest level in over a year to about 4.67%. While the bond yields have slightly cooled down on Wednesday morning, the yields remain elevated.

High bond yields typically make bonds attractive to investors, which in turn can lead to some downturn in equity markets.

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3) Iran-US conflict

US President Donald Trump told lawmakers at the White House that the country will “end the war very quickly” with Iran. “There’s so much oil out there, they’re going to come plummeting down..We’re going to end that war very quickly. They want to make a deal so badly…You are going to see oil prices plummet. They’re going to come down. There’s so much oil out there, they’re going to come plummeting down,” he said at a press conference. This came after he threatened Iran, saying the US may launch new attacks if Tehran fails to agree to some of the terms of the peace deal.

Meanwhile, US Vice President JD Vance said that the Iran conflict will not become a “forever war”. “We’re going to take care of business and ⁠come home,” he said during a White House briefing.

Iran, however, scaled up its threats. “With lessons learned and knowledge we gained, return to war will feature many more surprises,” Iran’s Foreign Minister Seyed Abbas Araghchi said in a post on X.

4) Oil prices hold above $110/barrel

Brent crude declined marginally but remained above $110 per barrel. WTI Crude, meanwhile, hovered above $104 per barrel. Oil prices continued to remain elevated above $100 per barrel level amid the prolonged blockade over the Strait of Hormuz, a narrow 33-kilometre waterway connecting the Persian Gulf with the Gulf of Oman that handles over 20% of the world’s daily oil and gas shipments.

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5) FII selling resumes

Foreign investors remained net sellers of Indian equities on Tuesday, selling shares worth Rs 2,457 crore on Dalal Street. This comes after a three-session buying streak during which FII bought Indian shares worth Rs 5,240 crore.

However, foreign investors have mostly remained bearish on Indian markets this month so far, remaining net sellers of Indian equities in eight out of 12 sessions so far in May.

6) Global market crash

Dalal Street accompanied its global peers, which only declined sharply. In Asia, South Korea’s Kospi crashed more than 2% while Japan’s Nikkei fell around 1.5%. Hong Kong’s Hang Seng and China’s Shanghai Composite dropped around 0.5% each.

Wall Street closed in the deep red yesterday, with tech-heavy Nasdaq declining 0.9% and S&P 500 falling 0.7%. European markets, however, closed mixed on Tuesday, with the UK’s FTSE and Germany’s DAX closing in the green with marginal gains.

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What lies ahead?

Technically, the 23,400–23,300 zone remains a crucial support band for the bulls, and a decisive breach could drag Nifty toward 23,100–23,000, said Rajesh Palviya, Head of Research at Axis Direct. “On the upside, unless Nifty reclaims 23,750 decisively, momentum is likely to remain capped, while only a sustained move above 23,900–24,000 would meaningfully improve the near-term outlook,” he said.

Going ahead, Nifty’s failure to move above the recent breakdown area of 23,800 – 23,900 will keep the bias corrective, and the index will consolidate with downward bias in the range of 23,200 – 23,900, said Bajaj Broking. It added that the benchmark index needs to start forming higher highs and higher lows on a sustained basis in the daily chart and a move above the breakdown area of 23,800 – 23,900 to signal a pause in the recent downtrend.

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

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Spurs’ Game 1 Domination Over Thunder Should Worry Lakers and Luka

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Earvin "Magic" Johnson reacts after being introduced as part of the NBA 75th Anniversary Team during the 2022 NBA All-Star Game at Rocket Mortgage Fieldhouse on February 20, 2022 in Cleveland, Ohio.

OKLAHOMA CITY — Magic Johnson didn’t hold back after watching Victor Wembanyama dismantle the Oklahoma City Thunder in Game 1 of the Western Conference finals, delivering a pointed message that should send chills through the Los Angeles Lakers organization and reigning MVP Luka Doncic.

The Lakers legend, speaking on his popular “Earned” podcast shortly after the Spurs’ 122-115 double-overtime victory on Monday night, described Wembanyama’s historic 41-point, 24-rebound performance as a “changing of the guard” that exposed just how far behind Los Angeles is in the current Western Conference hierarchy.

“This is what the future looks like,” Johnson said. “Wemby is doing things we’ve never seen before. The Lakers have to look at this and realize they are not close right now. Not to San Antonio. Not to Oklahoma City. They have serious work to do if they want to compete for titles again.”

Johnson’s comments come at a critical time for the Lakers, who missed the playoffs for the second straight season and now face major questions about LeBron James’ future and the direction of the franchise. With James turning 42 in December and the team lacking young star power, the emergence of Wembanyama and a reloaded Spurs squad creates a stark contrast in timelines.

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Wembanyama’s Game 1 masterpiece — the youngest 40-point, 20-rebound playoff performance in NBA history — left the Thunder, the league’s top seed, reeling. The 22-year-old phenom added elite defense, clutch shooting and leadership that silenced a raucous Paycom Center crowd. Rookie Dylan Harper chipped in with 24 points and seven steals, signaling that San Antonio’s youth movement is arriving faster than expected.

For the Lakers, the implications are sobering. While Los Angeles has relied heavily on James and Anthony Davis, the Spurs are building a sustainable contender around elite young talent with championship upside. Johnson, a five-time champion and Lakers icon, didn’t sugarcoat the gap.

“You watch Wemby dominate like that and you realize the West is getting deeper and younger,” he added. “Luka is incredible, but even he’s going to have his hands full if this is the new standard. The Lakers can’t just patch things together anymore. They need a real plan.”

Doncic, who led the Mavericks to the 2025 Western Conference finals before falling short, has been the subject of his own trade rumors this offseason. Johnson’s comments indirectly spotlight the pressure on Dallas to surround their superstar with better support or risk falling further behind rising powers like San Antonio.

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The Spurs’ victory improved their season series record against Oklahoma City to 5-1 and marked the fifth time in NBA history a team has won five of its first six games against the league’s best regular-season record holder. All four previous teams advanced past that opponent in the playoffs, adding historical weight to Monday’s result.

Johnson, who has been vocal about the Lakers’ need for bold moves, used the game as a teaching moment. He praised Wembanyama’s two-way dominance and compared the Spurs’ development under coach Mitch Johnson to the Showtime Lakers teams he once led. “They play the right way. They share the ball. They defend. That’s championship basketball,” he said.

The Lakers’ current roster construction has drawn increasing criticism. Despite adding pieces around James and Davis, the team has lacked the athleticism, depth and shooting required to compete with elite Western Conference teams. Recent draft misses and limited cap flexibility have left the franchise in a difficult position as it tries to balance competing now with building for the future.

Magic’s message carries extra weight because of his close relationship with Lakers leadership and his history of candid analysis. He has repeatedly urged the organization to pursue star talent aggressively rather than incremental improvements. Monday’s game, and Wembanyama’s performance in particular, reinforced that point dramatically.

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For Doncic, the warning is clear. At 27, the Slovenian superstar remains one of the league’s most gifted offensive players, but his Mavericks have struggled to advance deep into the playoffs consistently. A Spurs team led by Wembanyama could become a long-term divisional rival that challenges Dallas for supremacy in Texas and the West.

League executives believe the Western Conference is entering a new era defined by young superstars like Wembanyama, Shai Gilgeous-Alexander and potentially expanded roles for players like Harper and Stephon Castle. This shift puts additional pressure on veteran-led teams like the Lakers to adapt quickly or risk falling into mediocrity.

Johnson ended his commentary with a direct challenge to the Lakers. “LeBron is still LeBron, but he can’t do it alone forever. They need to build something sustainable around him and AD. Otherwise, teams like these Spurs are going to pass them by.”

As the Western Conference finals continue, all eyes will be on whether Oklahoma City can adjust to Wembanyama’s dominance or if San Antonio’s youth movement is ready to crash the NBA Finals. For the Lakers, Magic Johnson’s words serve as both warning and motivation heading into what could be a pivotal offseason.

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The basketball world is watching to see how Los Angeles responds. With Wembanyama announcing himself on the biggest stage, the margin for error is shrinking. The Lakers, once the gold standard of NBA franchises, must now confront a new reality where the future is arriving faster than many expected — and it wears a Spurs uniform.

Whether James stays or departs, and how aggressively the front office pursues star talent, will define the next era. Magic Johnson made it clear Monday night: standing still is no longer an option.

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