Daily Current Affairs – May 8, 2026

Asia faces a new inflation threat from El Niño as rising temperatures and dry weather are all set to increase food costs. This comes on top of existing oil price shocks. Countries like the Philippines and Pakistan are already seeing high inflation. El Niño is expected to intensify these pressures later this year. Food prices are set to climb further in the coming quarters.

Multinationals in India are reassessing their tax strategies. A new safe harbour regime offers lower margins for IT and ITeS services. Companies with existing Advance Pricing Agreements face a choice. They can opt out of higher APA margins for the new safe harbour. Those with pending APA applications are waiting for clarity.

Several beneficiaries of Telangana’s double-bedroom housing scheme continue to wait for their allotted homes as construction remains incomplete. For several low-income families, rising rents and cost of living have deepened financial stress, turning the dream of a permanent house into an urgent necessity. But in a contrasting trend, several allotted flats in Hyderabad remain unoccupied. What steps is the government taking to complete pending works and improve occupancy in the…

The 17th West Bengal Legislative Assembly which was sworn in after the 2021 assembly elections stands dissolved; swearing in of the first BJP government in West Bengal will be held at Brigade Parade Grounds on Saturday

The deputy Minister, Ali Maarij al-Bahadli, "abused his government position to divert Iraqi oil in support of the Iranian regime and its terrorist proxies," State Department spokesman Tommy Pigott said

State Bank of India's board will consider a fundraising plan of up to $2 billion on May 12. The bank will also release its Q4 results today, with analysts expecting muted profit growth due to treasury losses, despite stable loan growth and margins. SBI shares have seen significant gains over the past year.

Markets are pricing in a swift conflict resolution, but elevated energy costs will impact corporate margins in the near term. While earnings recovery is real, it remains vulnerable to external shocks. Bhandwaldar favors largecaps, particularly financials and auto, and sectors like pharma, telecom, and select industrials for their favorable risk-reward.

Two years after KFin Technologies rolled out discounted pricing for select new AMCs, the strategy has had limited impact on mandate wins as switching costs and entrenched relationships continue to favour market leader CAMS.

The Confederation of Indian Textile Industry warned in a report that if the current domestic-international price disparity continues, yarn exports could drop 20-25%, resulting in an estimated annual loss of up to $1.2 billion in textile export earnings.

The four-match series, to be played at SAI Bhopal, is a critical part of the teams’ preparations for the Men’s and Women’s U-18 Asia Cup to be held at Kakamigahara, Japan, from May 29-June 6

His 222 runs have come at a strike rate of 166.91, while his seven wickets have arrived at an economy of 10.39 in a tournament where bowlers have routinely been sent on leather hunts