US approves another $20 billion weapons package for Israel amid genocidal war against Palestinians

Dubai, June 27: HDFC Bank, India’s largest private lender, is under scrutiny in the UAE over allegations it sold high-risk Credit Suisse AT1 bonds to retail investors in violation of regulatory norms.

The bonds — complex instruments meant only for experienced or high-net-worth clients — were wiped out in March 2023 during Credit Suisse’s emergency merger with UBS. Several investors claim HDFC Bank relationship managers misrepresented these as safe, forged financial documents to meet eligibility criteria, and failed to disclose crucial risks.

Dubai resident Varun Mahajan says he lost $300,000 in savings and alleges the bank inflated his net worth to bypass DFSA rules. Another investor, NS from the Philippines, claimed he was sold AT1 bonds using a leverage loan he never applied for. Others, including Indian national Pankaj Sinha and South Africa-based AT, described similar misrepresentation, unauthorized document changes, and manipulation of KYC data.

Legal complaints have been filed in India, the UAE, Bahrain, and DIFC. Investors accuse the bank of misleading them and exposing them to losses running into millions of dollars.

In response, HDFC Bank denied any wrongdoing, stating it follows strict processes and takes action against malpractice. The DFSA has declined to comment due to legal confidentiality.

Internal sources say several HDFC executives have recently resigned, and the Dubai offshore head has been replaced, raising questions about accountability.

Experts say the case exposes regulatory gaps across jurisdictions and may prompt closer scrutiny of how banks operate across borders.

New Delhi, June 27: Former US President Donald Trump on Thursday hinted at a potentially “very big” trade deal with India, weeks after closed-door negotiations between the two countries concluded in Washington.

Speaking at the Big Beautiful Event at the White House, Trump said, “We just signed with China yesterday. We have some great deals. One may be coming up with India — a very big one.” He added that the US would not pursue trade deals with every country, suggesting a selective, strategic approach.

The four-day negotiations focused on expanding market access, reducing tariffs, and addressing non-tariff barriers across industrial and agricultural sectors. The Indian delegation was led by Commerce Ministry’s Rajesh Agrawal, while the US side was headed by officials from the Office of the US Trade Representative.

Sources say the proposed deal aims to boost bilateral trade from $190 billion to $500 billion by 2030.

Union Commerce Minister Piyush Goyal confirmed that talks are ongoing to strike a “fair, equitable, and balanced” agreement. “PM Modi and President Trump met in February 2025 and agreed on the importance of a mutually beneficial trade pact,” he said.

Earlier this month, US Secretary of Commerce Howard Lutnick also indicated that the deal could be finalized soon, noting that both countries are finding common ground.

US-China Deal Also Signed

Trump also mentioned a new trade agreement with China, signed a day earlier, focused on accelerating rare earth shipments to the US. According to a White House official, the pact includes a framework tied to the Geneva agreement, following a period of heightened tensions and stalled trade between the two countries.

Tehran, June 28: Iran is holding a grand funeral service for those martyred in the 12-day aggression by Israel and the US against the Islamic Republic.

The funeral in capital Tehran for 60 nuclear scientists, military commanders and civilians martyred in Israeli strikes began at 8:00 am (0430 GMT) in Enqelab Square on Saturday, proceeding to Azadi Square, about 11 kilometers across the sprawling metropolis.

A huge crowd of mourners is participating in the procession, accompanying coffins with chants of "death to Israel" and "death to America" and carrying placards.

"Boom boom Tel Aviv," read one banner, referring to Iranian missiles fired at Israel during the conflict in retaliation for its attacks on Iran.

Iranian President Masoud Pezeshkian, along with other senior government officials and military commanders including head of the Quds Force Brigadier General Esmail Qa’ani are also attending the event.

Foreign Ministry spokesman Esmaeil Baghaei, who attended the procession, paid flowing tributes to the martyrs in a message on X.

“Today, the zealous people of Iran carry on their shoulders, with heavy sorrow but standing steadfast and powerful, some of their purest and most patriotic sons and daughters - commanders, elites, athletes, women and children of this land - who were martyred during the war imposed by the aggressor Zionist regime, and with indescribable respect, they lay them to rest on the soil of their homeland like mythical heroes; so that each one may become a seed for the growth of other heroes," he wrote.

Images showed coffins draped in Iranian flags and bearing portraits of the martyred commanders in uniform near in the iconic Enqelab Square in central Tehran.

Mohsen Mahmoudi, head of Tehran's Islamic Development Coordination Council, called it a "historic day for Islamic Iran and the revolution".

Among the martyrs is Mohammad Bagheri, a major general and the second-in-command of the armed forces after the Leader of the Islamic Revolution Ayatollah Seyyed Ali Khamenei.

He will be buried alongside his wife and daughter, a journalist for a local media outlet, all martyred in an Israeli attack in Tehran.

Nuclear scientist Mohammad Mehdi Tehranchi, also martyred in the savage aggression, will be buried with his wife.

Chief commander of the Islamic Revolution Guards Corps (IRGC) Major General Hossein Salami, who was martyred on the first day of the unprovoked aggression, will also be laid to rest after Saturday's ceremony — which will also honor at least 30 other top commanders.

Of the 60 people who are to be laid to rest after the ceremony, four are children.

Iranian officials say more than 600 people, mostly civilians, were martyred in Israeli and US aggression against Iran.

The ceremony coincides with the second day of the Islamic month of Muharram, which commemorates the martyrdom of Imam Hussein (AS), the third Shia Imam, and his 72 companions.

In 680 AD, Imam Hussein (AS) and his followers fought bravely for justice against the much larger army of the Umayyad caliph, Yazid I, in the Battle of Karbala, in southern Iraq.

“Iranians have proven that they are the nation of Imam Hussein; a nation that, in the battle of truth against falsehood, relying on faith, steadfastness, and national solidarity, has the ability to overcome any evil," Baghaei wrote.