It also laid down a detailed framework for trading in “when-issued” securities, which are bonds that have been announced by the government but have not yet been issued.

Market participants are required to send their inputs by July 17.

Short positions of 2% of the outstanding stock or ₹500 crore, whichever is higher, will be allowed for liquid government securities.
Banks and standalone primary dealers (PD) will be allowed to take both long and short positions of up to 25% of the notified auction amount, while all other eligible participants will be subject to a 10% limit, the draft proposal said.

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“This would establish a market-clearing price before the bond even enters circulation,” a bond trader at a PD said. “More active when-issued trading could also reduce uncertainty around auction outcomes and improve secondary market liquidity once the bonds begin trading.”
For other, illiquid government bonds, the limit for short positions has been set at 1% of the outstanding stock or ₹250 crore, whichever is higher, the draft said.Short selling allows traders to sell bonds they do not currently own, with the expectation of buying them back later at a lower price.

The RBI has stipulated that such positions must be covered within three months through outright purchases in the secondary market, primary auctions or the when-issued market.

Clearer limits on position and operational guidelines could improve liquidity and price discovery in government securities, by allowing traders and primary dealers to express views on interest rates more efficiently, market participants said.

The draft directions also lay down a detailed framework for trading in “when-issued” securities. RBI announces bonds on a Monday, while the auction is held on a Friday.

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To go faster and deeper will require advances in drilling technologies.

Companies are developing drilling equipment that is more stable when breaking through hard rock at high temperatures.

Some firms are even aiming to penetrate rock without using standard drills.

Quaise, a company with roots at the Massachusetts Institute of Technology (MIT), is using a technology called millimetre wave drilling. The frequency is similar to that of microwaves.

Quaise’s application involves “sending electromagnetic waves in the microwave millimetre wave spectrum to essentially melt and vaporise through the rock,” explains Harry Kelso, Quaise’s communications manager.

Traditional geothermal energy clusters around hotspots on the earth’s surface where very hot rocks can be easily accessed.

“Millimetre wave drilling really enables you to access super-hot geothermal just about anywhere in the world,” says Kelso.

While Quaise is planning to use some conventional drilling at the project site it’s developing in Oregon, Kelso says that conventional drills start to break down more quickly when it reaches very hard rock.

Replacing drill bits increases the cost and time of drilling.

In Quaise’s case, Kelso says, “millimetre wave drilling is really what changes that because we’re not using a physical drill bit.”

Other companies are also working on advanced drilling technology, such as projectiles that move several times faster than the speed of sound.

Another crucial resource in the process is water. While some types of next-generation geothermal could create risks of water contamination or overconsumption, careful design can avoid this problem.

Initially Quaise’s system requires a lot of water, but according to Kelso, once the water is in the system it is continually circulated over the super-hot rocks.

“We’re essentially just recycling the water over and over,” he says.

Quaise is continuing to raise funds, with the aim of its Oregon project being up and running by 2030.

Like other early versions of geothermal systems, it’s an expensive project to get up and running.

“The economics are somewhat challenging,” Kelso admits. “Geothermal today is still more expensive because you are not getting as much power out of the well as you would if you were using that well for fossil fuel.”

But Quaise hopes that by targeting very high temperatures, of between 300C and 500C, the economics will improve.

While the higher end of that temperature range is ambitious, it’s a case of the-hotter-the-better.

“It allows you to get 10 times more energy per well from geothermal, which changes the economics and the power potential of geothermal,” according to Kelso.

The NSE Nifty 50 rose 0.1%, or 34.35 points, to close at 24,056, while the BSE Sensex gained 0.1%, or 109.25 points, to end at 77,100.47. Both indices were up about 0.4% for the week.

Markets had gained as much as 1% intraday before paring advances ahead of the prolonged weekend. Financial markets will be shut on Friday for Muharram. Brent crude extended its decline for a fourth straight session, slipping to as low as $72.4 a barrel.

“The Street was anticipating that the reopening of the Strait of Hormuz by June, and now that it has played out, oil prices have settled favourably for India, lending some investor confidence,” said Dharmesh Kant, head of research, cholamandalam securities.

Kant said dips are likely to attract buying interest with the downside appearing limited. While monsoons remain a key variable, he expects no major correction even with up to a 15% rainfall deficit. “Margins and profitability will improve from Q2 onwards, though Q1 numbers could be tepid,” he said.

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The India VIX fell 2.5% to 13.1, pointing to easing near-term volatility expectations.
“This week, Nifty remained range-bound, taking support around its 20-day moving average of 23,800,” said Ruchit Jain, head of technical research at Motilal Oswal Financial Services. He expects the index to test the 24,200-24,250 zone in the near term, though a breakout above this level is needed for a sustained upmove.The Nifty Midcap 150 and Nifty Smallcap 250 indices fell 0.5% each. Out of 4,406 shares traded on the BSE, 1,602 advanced, and 2,627 declined. The Nifty Auto index gained 2.3% on softer crude prices, while the Nifty Metal index fell 1.4% and the Nifty IT index declined 0.9%.

Foreign portfolio investors bought shares worth a net ₹383.8 crore on Thursday.

Flowers and Jubair’s trial heard they were part of the cyber-crime collective, Scattered Spider.

The loosely organised gang of young English-speaking cyber-criminals has been linked to dozens of other cyber-attacks including on retailers Marks and Spencer and the Co-op.

But the BBC has learned Flowers initially came to the attention of police shortly after he turned 16 years old.

In October 2023 he was caught carrying out low-level cyber-crime and visited by West Midland’s Regional Cyber Crime Unit prevent officers.

Police say that during the visit Flowers did not engage with officers and was given a cease and desist order to deter him from further offending.

Police had the option to invite him to enrol in the national Cyber Choices programme, which works to steer young people away from cyber-crime.

However Flowers was already being investigated for an offence and was reluctant to engage with officers, so they deemed him not suitable.

Just months later, the teenager – who was living with his grandmother – went on to commit a series of increasingly serious cyber-offences with Scattered Spider which culminated in the TfL attack.

NCA deputy director Paul Foster, head of its National Cyber Crime Unit, said the case highlighted the challenges posed by a small number of highly capable offenders.

He called for stronger legal powers – such as the proposed Cyber Crime Risk Orders (CCROs) – to deal with cases like this.

CCROs, announced by the UK government as part of planned reforms to the Computer Misuse Act, are designed to let police and courts place restrictions on people considered high risk before they carry out further serious breaches.

They would “enable earlier law enforcement interventions against high-risk cyber-crime offenders,” Foster said.

Operator

Good day, everyone, and welcome to the American Outdoor Brands, Inc. Fourth Quarter and Full Year Fiscal 2026 Financial Results Conference Call. This call is being recorded.

At this time, I would like to turn the conference over to Ms. Liz Sharp, Vice President of Investor Relations. Please go ahead, ma’am.

Elizabeth Sharp
Vice President of Investor Relations

Thank you, and good afternoon. Our comments today may contain predictions, estimates and other forward-looking statements. Our use of words like anticipate, project, estimate, expect, intend, should, could, indicate, suggest, believe and other similar expressions is intended to identify those forward-looking statements. Forward-looking statements also include statements regarding our product development, focus, objectives, strategies and vision, our strategic evolution, our market share and market demand for our products, market and inventory conditions related to our products and our industry in general, and growth opportunities and trends.

Our forward-looking statements represent our current judgment about the future, and they are subject to various risks and uncertainties. Risk factors and other considerations that could cause our actual results to be materially different are described in our securities filings. You can find those documents as well as a replay of this call on our website at aob.com. Today’s call contains time-sensitive information that is accurate only as of this time, and we assume no obligation to update any forward-looking statements. Our actual results could differ materially from our statements today.

A few

Kuwait International Airport is open and operating today, with Kuwait Airways and Jazeera Airways running normal schedules and a key foreign carrier resuming service for the first time since the airport’s earlier conflict-related disruptions.

Current Operational Status

Kuwait reopened its airspace and Kuwait International Airport is open and operating, with the region now moving from a ceasefire to a wider peace following the U.S.-Iran conflict. Kuwait Airways is flying from Terminal 4 and Jazeera Airways from Terminal 5, with schedules steadily returning to normal as the situation stabilizes. A brief, precautionary airspace closure during the conflict has long since been lifted.

Oman Air Resumes Service Today

Today marks a notable milestone in the airport’s gradual recovery, with one of the foreign carriers that had been waiting to resume operations now back in the air. Among the foreign carriers resuming, Oman Air has confirmed its Kuwait flights restart on June 25, 2026, temporarily operating through Terminal 4 instead of its usual Terminal 1.

Terminal 1 Remains the Main Outstanding Issue

While the airport overall continues operating, one of its primary facilities remains closed pending repair work tied to earlier damage. Terminal 1 remains closed for repairs after earlier damage, and there is no confirmed date for it to reopen. Terminals 4 and 5 are fully operating in the meantime.

The damage to Terminal 1 traces back to a series of attacks earlier this year. Between February 28, 2026, and June 2026, the airport was targeted by Iranian drone attacks as part of Iran’s strikes on Persian Gulf states, causing damage to Terminal 1. That reopening of Terminal 1 proved short-lived after an earlier repair, with the facility suffering more serious structural damage in a subsequent attack. Terminal 1 suffered significant damage during drone and missile strikes on June 3, 2026, with parts of the terminal experiencing a partial roof collapse and other structural damage, making the facility unsafe for passenger operations. That second closure has remained in effect since, with no confirmed reopening date currently available.

Terminal 3 Permanently Shut, Terminal 2 Still Under Construction

Beyond Terminal 1’s temporary closure, the airport’s broader terminal lineup includes additional facilities at different stages of completion. Terminal 2 is still under construction, while Terminal 3 is permanently closed.

A Long Road to Today’s Reopening

The airport’s current state reflects a complicated recovery process that unfolded over several months earlier this year. Since February 28, 2026, all flights to and from Kuwait International Airport were suspended following the closure of Kuwaiti airspace due to the broader regional conflict. Local carriers like Jazeera Airways diverted operations to Qaisumah International Airport in Saudi Arabia, located approximately two and a half hours from Kuwait by road, during the suspension.

The airport was hit by suicide drones between late February and April, causing damage to the facility, including its radar installation, though there were no casualties from those attacks. Kuwait Airways and Jazeera Airways restarted operations from the airport on April 26, operating from Terminals 4 and 5. Terminal 1 reopened on June 1, with some non-Kuwaiti airlines restoring service to the airport at that time, before the second strike on June 3 forced its closure once again.

Government Statements on the Reopening Process

Kuwaiti aviation officials have emphasized a careful, coordinated approach to restoring full operations throughout the recovery. Sheikh Hamoud Mubarak Al Sabah, Chairman of the General Civil Aviation Authority, said the move to reopen the airspace was coordinated with relevant domestic and international authorities to ensure operations resumed in line with the highest safety and security standards. Sheikh Hamoud also praised the efforts of aviation staff and government entities involved in managing the situation and accelerating recovery, expressing appreciation for Saudi Arabia’s support in facilitating Kuwaiti carriers through its airports, along with broader coordination among Gulf Cooperation Council countries to maintain air traffic continuity during the crisis.

What Travelers Should Do

Given the airport’s recent history of repeated disruptions, officials and travel advisories continue to recommend that passengers verify their specific flight status directly with their airline before heading to the airport. Confirm your flight with your airline before heading to the airport, as timings can still vary while schedules normalize. Travelers with urgent concerns should use official airline customer service channels for the latest updates regarding canceled or diverted flights, including options for rebooking, refunds, or rerouting.

Getting To and From the Airport

For travelers planning their journey, Kuwait International Airport is located approximately 15.5 to 16 kilometers south of Kuwait City’s center. A taxi to the city center takes approximately 20 to 25 minutes and costs between 5 and 10 Kuwaiti dinars, or roughly $16 to $33. Public buses on lines 13, 99, and 501 connect the airport to surrounding districts including Hawalli and Salmiya, running every 45 to 60 minutes for a fare of 0.250 Kuwaiti dinars, or about 80 cents, one way, though no direct metro or train service is currently available.

A Major Aviation Hub for the Region

Kuwait International Airport is the country’s primary aviation hub and the main airport serving the State of Kuwait, handling over 15 million passengers annually and offering connections to more than 100 destinations worldwide. As the central hub for Kuwait Airways and Jazeera Airways, the airport’s continued recovery carries significant importance for both regional connectivity and Kuwait’s broader economic activity.

The Broader Regional Context

The airport’s repeated cycle of closures and reopenings has occurred against the backdrop of a broader, easing regional conflict. With the region moving from a ceasefire to a wider peace, conditions have eased considerably, though officials and travel advisories continue to recommend that travelers check their government’s latest travel advisory before making plans, as guidance continues to be updated as the broader situation settles.

With Terminals 4 and 5 fully operational and Oman Air now resuming service as of today, Kuwait International Airport’s recovery appears to be continuing on a positive trajectory, even as Terminal 1 remains closed indefinitely pending repairs and Terminal 2’s broader expansion project continues working toward its targeted late-2026 opening. Travelers planning trips through Kuwait in the coming weeks should expect continued gradual normalization of service, but should not assume full pre-conflict operational capacity has yet been restored across all of the airport’s facilities.