- Mumbai Flooding & Disruptions
The city of Mumbai was under an orange alert due to heavy rains, while regions such as Thane, Palghar, Raigad, and Ratnagiri were under a red warning.
Significant waterlogging caused flight delays and cancellations of suburban train services, including the complete suspension of the Bandra Terminus–Kaman Road link.
Sadly, throughout the past 24 hours, six persons have lost their lives as a result of rain-related occurrences. Rescue efforts are underway, with hundreds more people being rescued from flooded areas in Nanded and Palghar and over 782 passengers being removed from stalled monorail trains.
Now with more than 1,000.8 mm of precipitation, August is the wettest month in recent memory. In addition to fighting false information regarding school closures, the Brihanmumbai Municipal Corporation (BMC) is actively responding and has provided emergency helpline numbers (1916).
2. Political and Policy Developments in the U.S.
A congressional map supported by former President Trump is about to be approved by Texas Republicans. Following a rare two-week quorum break by Texas Democrats challenging the move, the goal of this redistricting is to flip five Democratic House seats. Gene Wu, the minority leader, intends to propose an amendment calling for the disclosure of documents pertaining to Epstein.
Attorney General Pam Bondi reported 66 arrests in Washington, D.C., on August 19, increasing the number of arrests since the start of intensified federal enforcement to 550. As part of larger initiatives to combat homelessness and criminality, including the deployment of the National Guard, authorities also confiscated eight guns.
37 intelligence professionals had their security clearances revoked by National Intelligence Director Tulsi Gabbard. Trump-era measures, such as worries about growing electricity costs, are still causing tensions. More than 2.8 million Americans identify as transgender, according to a UCLA study, igniting discussions about federal data and inclusion policy. Meanwhile, Trump continues to shape narratives at organizations like the Smithsonian, while the mayor of Boston supported sanctuary city policy.
Stock Market & Corporate Movements
Amid mixed retail reports, the Federal Reserve’s July meeting minutes, and Chair Powell’s impending Jackson Hole speech, U.S. stock futures opened little down.
Following the announcement of a leadership change—COO Michael Fiddelke will become CEO in 2026—Target stock fell 10% in pre-market trade.
In addition to announcing a $8.8 billion acquisition of Foundation Building Materials, Lowe’s reported solid earnings and increased its full-year sales projection; its shares increased by more than 3%.
Due to poor earnings and a bleak revenue outlook, La-Z-Boy’s stock fell by about 25%, indicating weakness in the retail furniture market. Interestingly, Bitcoin rose sharply, trading close to $114,000.
Middle East: Increasing Attacks in Gaza
At least 56 Palestinians were murdered in the last 24 hours as a result of Israel’s most recent wave of attacks on Gaza. Three additional people have already perished from malnutrition as the area remains under a protracted siege that makes it difficult to obtain necessities.
The Monetary Policy Committee (MPC) of the Reserve Bank of India remained neutral and kept rates at the 5.50% repo rate. The committee identified US tariffs—up to 50% on Indian exports starting on August 27—as a significant risk to external demand, even if the growth forecast was robust at about 6.5%. Core inflation is still stubbornly higher than the 4% objective, although retail inflation fell to an eight-year low in July. In October, the MPC will review policy and keep a careful eye on risks. August 29 is when India’s GDP is expected to be updated.
Russia is relying on providing steep oil discounts to keep India’s imports in the face of growing US pressure and tariffs. Russian authorities anticipate that India will keep purchasing oil, and they are even looking to join the China-India-Russia dialogue.
After Mukul Mattu was arrested, police in Ludhiana dismantled a significant cross-border drug and arms trafficking network. 21 live cartridges, two handmade pistols, a 9 mm Glock, and 1 kilogram of heroin were among the things seized. According to Mattu, the heroin came from Ashu, a prisoner in Faridkot who was given the Glock as part of a smuggling deal. Investigations are still being conducted.