Bank of Punjab Board approves Up to Rs30bn equity injection by Punjab government

OPEC+ is widely expected to approve another increase in oil production when its members meet virtually on Sunday, as the alliance continues to adjust supply while global energy markets remain affected by ongoing geopolitical tensions. According to market analysts, Saudi Arabia, Russia and several other key members of the alliance are likely to raise their combined production target by around 188,000 barrels per day for September. If approved, the increase would continue a series of monthly production hikes introduced this year and is expected to mark the final step in the group’s current plan to gradually restore previously reduced output. OPEC+, which includes members of the Organization of the Petroleum Exporting Countries and allied producers, introduced major production cuts between late 2022 and 2023 after concerns that falling oil prices could weaken global energy markets. Those reductions removed nearly six million barrels of oil per day from the market in three separate phases. As demand gradually recovered, the group shifted its strategy by slowly increasing production, beginning in 2025, to balance supply while supporting market stability. A September increase would complete the reversal of the second package of production cuts introduced during that period. However, analysts note that higher production targets do not necessarily mean actual oil output will increase by the same amount. Several member countries are currently unable to reach their assigned quotas because of declining production capacity, ageing infrastructure or operational challenges. Energy analyst Giovanni Staunovo of UBS said many producers are already pumping below their official targets, making further quota increases less significant in practical terms. He noted that production capacity has declined in several member states, limiting their ability to take full advantage of higher output allowances. Regional tensions have also affected oil exports. Gulf producers continue to face challenges because shipping through the Strait of Hormuz has been disrupted during the conflict involving Iran. Although maritime traffic briefly improved after a memorandum of understanding between the United States and Iran was signed in June, transport through one of the world’s busiest oil routes remains uncertain. Russia is also dealing with production difficulties as repeated Ukrainian drone attacks have targeted parts of its energy infrastructure. Current Russian oil production remains close to nine million barrels per day, well below its official production target of 9.8 million barrels per day, highlighting the gap between quotas and actual output. Some OPEC+ members, including Iraq, have indicated they want to increase production significantly once conditions allow. At the same time, the alliance is reviewing the maximum sustainable production capacity of each member to help determine future output allocations. These discussions are expected to play an important role in setting production quotas for 2027 and beyond. Analysts believe negotiations over future production targets could become more challenging after the September meeting. While they say the alliance remains united for now, the departure of the United Arab Emirates from OPEC+ earlier this year has raised questions about the group’s long term cohesion. The UAE said its decision to leave was based on national interests and long term strategic goals, pointing to major investments aimed at expanding its oil production capacity beyond the limits previously set by the alliance. Despite these challenges, OPEC+ is expected to continue coordinating production policies in an effort to maintain stability in the global oil market as economic uncertainty and geopolitical tensions continue to influence energy demand and supply.

Following the resignation of Indian Education Minister Dharmendra Pradhan, Cockroach Janta Party (CJP) chief Abhijit Dipke addressed a protest rally at Jantar Mantar and thanked those who had referred to young people as “cockroaches.” Speaking at the demonstration, Dipke directly addressed Chief Justice of India Surya Kant, saying that if the chief justice had not used the term, he would not have returned to India and the protest movement would never have begun. According to Indian media reports, the youth-led campaign began after a Supreme Court hearing on May 15. During a case concerning the designation of senior advocates, Chief Justice Surya Kant reportedly compared some young people to cockroaches, saying they struggled to find employment and opportunities in their professions. The chief justice later clarified that his remarks were directed at people holding fake law degrees and were not intended to describe unemployed youth generally. However, the statement quickly spread across social media and triggered widespread criticism. The following day, Abhijit Dipke, a student based in Boston and a former communications strategist for the Aam Aadmi Party, announced the formation of the Cockroach Janta Party in a satirical social media post. Dipke presented the group as a platform for young people who considered themselves “cockroaches” — including unemployed youth, active social media users and those critical of the existing system. The campaign gained momentum as public anger increased over allegations surrounding a National Eligibility Test (NET) paper leak. Dipke returned to India in early June and began leading protests at Jantar Mantar. The protesters’ main demand was the resignation of Education Minister Dharmendra Pradhan over alleged irregularities in examinations. The movement later received wider attention when social activist Sonam Wangchuk began an indefinite hunger strike on June 28. He ended the hunger strike after 26 days following written assurances from the government. The assurances included a commitment that peaceful protesters would not face criminal cases. The government also agreed to consider examination reforms and accountability measures in Parliament. It further agreed to consider a proposal for compensation for families of students who allegedly died by suicide following the reported paper leak. Despite the end of Wangchuk’s hunger strike, the Cockroach Janta Party continued demanding Pradhan’s resignation. The protests continued even after demonstrators were reportedly subjected to a baton charge on July 20. Growing pressure eventually led to Pradhan stepping down. In his resignation, Pradhan said he was leaving his position with the future of students in mind. He also said the decision was necessary to prevent anti-national elements from taking advantage of the situation at Jantar Mantar and elsewhere across the country.

NEW DELHI: India’s Supreme Court has ordered authorities to release minors detained during protests over examination paper leaks and directed officials to preserve evidence linked to allegations of excessive police force. Chief Justice Surya Kant reportedly issued the interim directions while hearing petitions filed by student protesters and activists. The petitions accuse police and paramilitary personnel of using excessive force, including baton charges and other crowd-control measures, against demonstrators. The court also directed authorities to preserve all available surveillance material from the protests. This includes CCTV recordings, drone footage and body-camera video. Officials were further told to protect the personal and digital information of protesters and ensure that it is not publicly disclosed. The court reportedly barred authorities from taking coercive action against protesters while the matter remains under consideration. Justice Kant stressed the importance of an independent investigation into allegations of mistreatment. He said accountability must be established if wrongdoing occurred. The government has defended the security forces’ response, describing the measures as necessary for crowd control. Solicitor General Tushar Mehta told the court that around 250 police officers were also injured during the unrest. He reportedly said the government had no objection to an investigation into allegations involving protesters. The protests erupted after question papers for a national medical college entrance examination were leaked. The controversy triggered demonstrations in New Delhi and several other parts of India. Protesters demanded reforms to the examination system, withdrawal of cases against demonstrators and compensation for families of students who died by suicide following the controversy. The demonstrations ended after the education minister resigned and the government agreed to several demands raised by the protesters. Meanwhile, the Indian government has proposed tougher penalties for examination paper leaks. Under the proposed amendments, the maximum prison sentence could be increased to 10 years, while fines could rise to more than $1 million. The government says the proposed changes are intended to strengthen the examination system, speed up legal proceedings and restore confidence among students and young people. The issue has also created political tension in parliament. Opposition lawmakers have repeatedly raised concerns about the police response to the protests and demanded accountability. In several cities, clashes between demonstrators and security personnel led to tear gas and baton charges. Authorities also suspended a police officer in an eastern state after he allegedly fired rounds into the air while attempting to disperse student protesters. Concerns have additionally emerged over the use of artificial intelligence-powered surveillance during demonstrations. Activists have questioned the deployment of police surveillance equipment capable of providing wide-area monitoring of protest gatherings. A protest group that helped lead the movement has claimed that hundreds of students were arrested in different states. However, the figure has not been independently verified.