US President Donald Trump on Wednesday said the Federal Emergency Management Agency (FEMA), which responds to natural disasters and other emergencies across the nation, is "getting in the way of everything" and requires reform. "I would rather see the states take care of their own problems," he added. FEMA should "be a whole big discussion very shortly", Trump further stated.

A flight carrying 26/11 Mumbai terror attack accused Tahawwur Rana has left the US, and it is expected to land in Delhi on Thursday, reports said. On Wednesday, Union Home Minister Amit Shah, External Affairs Minister S Jaishankar and NSA Ajit Doval held a meeting to discuss preparations, IE reported. Rana is expected to be lodged in Tihar Jail.

The India Meteorological Department (IMD) has issued heavy rainfall warning for eight states for Thursday. As per IMD's latest bulletin, the heavy rainfall warning has been issued for Arunachal Pradesh, Assam, Meghalaya, Bihar, West Bengal, Sikkim, Tamil Nadu and Kerala. Meanwhile, heat wave warning for Thursday has been issued for Rajasthan, Madhya Pradesh and Gujarat.

Member states of European Union on Wednesday approved 25% retaliatory tariffs on a range of US imports worth around €22 billion per year (over ₹2.10 lakh crore). This comes in response to US President Donald Trump's decision to impose reciprocal tariffs of the same magnitude on goods imported from EU countries. The new tariffs will take effect on April 15.

US Treasury Secretary Scott Bessent said China's decision to impose 84% retaliatory tariffs on US goods is a losing proposition for them. China's move came after US President Donald Trump imposed 104% tariffs on Chinese goods. "It's unfortunate that the Chinese don't want to negotiate, because they are the worst offenders in the international trading system," he said.

China will impose 84% tariffs on US goods, up from the 34% previously announced, China said on Wednesday. A day ago, US President Donald Trump raised tariffs on Chinese goods to 104% after threatening to impose additional tariffs on Chinese imports if China didn't withdraw its 34% retaliatory tariffs. China said it's equipped to "fully offset" any negative external shocks.

Tahawwur Rana is a Pakistani-origin Canadian businessman who is being extradited from the US to India for his role in the 26/11 Mumbai attacks. Before moving to Canada, he served as a doctor in the Pakistani Army. He ran an immigration agency, but it was later revealed that the agency was used as a cover to plot terror activities.

India has cleared a mega deal to buy 26 Rafale Marine fighter aircraft from France, ANI reported on Wednesday, citing government sources. "The government-to-government deal worth over ₹63,000 crore will be signed soon," it added. Indian Navy will get 22 single-seater and four twin-seater aircraft as part of the deal, ANI further reported.

Amazon India has eliminated referral fees on 1.2 crore products under ₹300 across 135+ categories. This includes items like Apparel, Beauty, and Home Decor. National shipping rates now start at ₹65, making it more affordable for small businesses to reach customers across India, said the e-retailer, adding that multi-unit orders save up to 90% on additional units.

Microsoft has overtaken Apple to become the world's most valuable company following Apple's 23% plunge over the past four trading sessions. As of Tuesday's close, Microsoft was worth $2.64 trillion, while Apple was worth $2.59 trillion, CNBC reported. Among big tech companies, Apple is getting hit the hardest by Trump's reciprocal tariffs due to the iPhone maker's reliance on China.

Reserve Bank of India's (RBI) Governor Sanjay Malhotra on Wednesday announced Monetary Policy Committee's (MPC) decision to cut the repo rate by another 25 bps to 6%. In February 2025, repo rate was cut by 25 bps to 6.25% in the first reduction since May 2020. Several economists believe RBI will bring repo rate down to 5.5% before 2025 ends.