Business
Sri Lanka ends ban on foreign exchange transactions
The Sri Lankan central bank has lifted a ban on foreign exchange transactions and allowed banks to provide forward sale and purchase of foreign exchange facilities to importers.
Forward sale and purchase of foreign exchange are contractual agreements between two parties to exchange a pair of currencies at a specific time in the future, Xinhua news agency reported.
This new direction is expected to play a role in ending shortages of goods in the country.
On April 25, 2021, the central bank prevented commercial banks from selling dollars to customers for future transactions, causing significant issues for importers who found it difficult to order goods from abroad.
This move comes in the wake of a decision by the central bank to allow the Sri Lankan rupee to depreciate earlier this month.
Business
First Vande Bharat sleeper train to start running between Guwahati and Howrah in Jan

New Delhi, Jan 1: Union Minister for Railways Ashwini Vaishnaw announced on Thursday that the first-ever Vande Bharat sleeper train will operate between Guwahati in Assam and Howrah in West Bengal.
He stated that the complete trial, testing, and certification of the Vande Bharat Sleeper Train have been completed. Prime Minister Narendra Modi will flag off the first Vande Bharat Sleeper Train on this route this month.
The Minister said that this development represents a significant milestone for Indian Railways, the nation, and its rail passengers. He also mentioned that 2026 will be a year of major reforms for Indian Railways, with several passenger-centric initiatives set to be introduced.
The districts that will benefit from the launch of the Vande Bharat Sleeper Train include Kamrup Metropolitan and Bongaigaon in Assam and Coochbehar, Jalpaiguri, Maldah, Murshidabad, Purba Bardhaman, Hooghly, and Howrah in West Bengal.
The train will have 16 coaches, including 11 three-tier AC coaches, 4 two-tier AC coaches, and 1 first-class AC coach, with a total capacity of around 823 passengers.
The semi-high-speed train has a design speed of up to 180 kmph. It is fitted with ergonomically designed berths that have improved cushioning, automatic doors with vestibules for smooth movement and CCTVs in all coaches.
Vaishnaw further stated that a completely newly designed bogie with new suspension has been developed. The design parameters have been taken to a new level. Its interiors and ladders feature an ergonomic design, with special parameters implemented throughout for safety and security.
The Vande Bharat Sleeper Train will offer a comfortable, safe, and high-quality travel experience for overnight journeys. The timetable of the Vande Bharat Sleeper Train will be planned in such a way that it departs from its origin in the evening and reaches its destination early the next morning.
Passengers on the Vande Bharat Sleeper Train will enjoy region-specific culinary offerings during their journey. The train originating from Guwahati will feature authentic Assamese cuisine, while the train starting from Kolkata will serve traditional Bengali delicacies, ensuring a delightful and culturally rich dining experience on board.
The train is also fitted with the modern KAVACH safety device and has an emergency talk-back unit for communication between the passenger and train manager or loco pilot in case of emergency.
It is equipped with an improved fire safety aerosol-based fire detection and suppression system in electrical cabinets and lavatories.
Business
GAIL Gas cuts domestic PNG and CNG costs across authorised areas

New Delhi, Jan 1: GAIL Gas Limited on Thursday announced to reduce the cost of domestic Piped Natural Gas (PNG) and Compressed Natural Gas (CNG) by Rs 1 per SCM (Standard Cubic Meter) and Rs 1 per kg respectively, across all its authorised areas in the country.
The price cut comes into effect from January 1 in GAIL Gas Geographical Areas (GAs) in Uttar Pradesh, Karnataka, Madhya Pradesh, Haryana, Uttarakhand, Jharkhand, Chhattisgarh, Rajasthan and Odisha.
“The Ministry of Petroleum and Natural Gas and the Petroleum and Natural Gas Regulatory Board (PNGRB) continue to implement progressive policy measures that are fostering a favourable and financially sustainable ecosystem for the growth of the CNG and domestic PNG market in India,” said GAIL Gas Chief Executive Officer.
“The recent revision of the Unified Tariff by PNGRB, from January 1, 2026, including the applicability of Zone-1 tariff to City Gas Distribution (CGD) entities for CNG and domestic PNG segments, is set to significantly reduce the transportation cost of natural gas, the GAIL Gas executive added.
The decision to reduce prices is in line with the Government of India’s vision of a gas-based economy and to further encourage the adoption of clean fuels.
GAIL Gas Limited is a wholly owned subsidiary of Maharatna PSU GAIL (India) Limited and is implementing City Gas Distribution networks in 16 Geographical Areas (GAs).
Meanwhile, GAIL (India) Limited, the country’s largest natural gas company, reported a consolidated performance marked by steady revenue growth and improved profitability in the second quarter of FY 2025-26.
According to a recent Crisil report, city gas distribution (CGD) companies in India are projected to clock an operating profit of Rs 7.2–7.5 per standard cubic metre (scm) this fiscal — up 8-12 per cent compared with the second half of last fiscal when margins dropped because of a sudden and steep decline in gas allocation under the administered price mechanism (APM) for the compressed natural gas (CNG) segment.
Consequently, distributors had to take recourse to the spot gas market for supply, which exerted upward pressure on cost. The companies have, thereafter, transitioned to contracted supplies, which is expected to burnish margins.
Business
‘1st Bullet Train To Run On 15th August, 2027’: Railway Minister Ashwini Vaishnaw Shares BIG Update On Mumbai–Ahmedabad High Speed Rail Corridor

Mumbai: The work on India’s ambitious Mumbai-Ahmedabad Bullet Train Project is progressing at full pace, and the Centre has now announced a long-awaited timeline. Union Railway Minister Ashwini Vaishnaw on Thursday said that the country’s first bullet train will begin operations on August 15, 2027, marking a major milestone in India’s railway modernisation journey.
The announcement has brought clarity to a question many citizens have been asking, when will India finally see its first bullet train in operation. The high-speed rail project, which is currently under construction, is expected to majorly reduce travel time between Mumbai in Maharashtra and Ahmedabad in Gujarat and introduce global standards of rail infrastructure in the country.
Meanwhile, Vaishnaw also introduced India’s first Vande Bharat sleeper train, which will soon begin service on the Guwahati–Kolkata route. The train will be flagged off by Prime Minister Narendra Modi in the coming days, the minister said.
Vaishnaw said the Vande Bharat sleeper train has successfully completed its testing and certification process. Highlighting its importance, he said the new service will offer world-class facilities, enhanced safety and a modern travel experience for passengers undertaking long-distance overnight journeys.
“The complete testing and certification of the Vande Bharat sleeper train has been completed. Its first route is proposed to be Guwahati–Kolkata. Prime Minister Narendra Modi will flag off the first Vande Bharat sleeper train on this route in the coming days. This achievement is a major milestone,” Vaishnaw said.
On December 30, 2025, the railway minister shared a video on social media platform X showing the sleeper version of the Vande Bharat train undergoing high-speed trials. The video demonstrated the train’s stability as its speed increased from 178 kmph to 180 kmph within seconds.According to the Railway Ministry’s year-end review, the Vande Bharat sleeper trains are expected to revolutionise long-distance rail travel in India. Initially, the trains will be introduced on busy routes and later expanded across the network, significantly cutting travel time.
The Vande Bharat sleeper trains are manufactured by BEML Limited using technology developed by the Integral Coach Factory (ICF). Each train consists of 16 coaches, including AC First Class, AC 2-Tier and AC 3-Tier coaches, with a total passenger capacity of 1,128. With a top speed of 180 kmph, the Vande Bharat sleeper ranks among the fastest overnight trains in the country.
Currently, Indian Railways operates semi-high-speed Vande Bharat trains with a design speed of 180 kmph and a maximum operational speed of 160 kmph. The sleeper version aims to combine the comfort of the Rajdhani Express with advanced modern technology, offering a new standard for overnight rail travel in India.
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