OPINION, P10 LEISURE Wisdom dawns but challenges remain FE LINES Charge fast & easy! Workouts on the wall A new crop of chargers combine safety, utility and efficiency Page 6 Indoor climbing gyms are becoming the new urban fitness obsession Page 7 ACROSS THE AISLE , P CHIDAMBARAM VOL.NO.XVII SL.NO.21 FOOTLOOSE Follow us on Twitter & Facebook. App available on App Store & Play Store WWW.FINANCIALEXPRESS.COM WORLD CUP CITYGUIDE BENGALURU 14 Pages, `12 FINANCIAL EXPRESS ON SUNDAY SUNDAY, JUNE 14, 2026 P U B L I S H E D F R O M : A H M E D A B A D , B E N G A L U R U , WHAT’S INSIDE C H A N D I G A R H , From music to magic and mimicry, how differently-abled individuals are breaking several stereotypes and shifting the narrative around performing arts in the country ■ WORDS WORTH, P4 Learnings from a WhatsApp group A stellar compilation on governance and policy with Kerala as common theme H Y D E R A B A D , K O C H I , K O L K A T A , L U C K N O W , M U M B A I , N E W D E L H I , P U N E Deal with Iran today, saysTrump US PRESIDENTDONALD Trump Disabling disability, one act at a time READ TO LEAD ● Strait of Hormuz to open ● Technical talks next week ● Iran doubtful about time EMAN ABOUHASSIRA, STEVE HOLLAND & SAAD SAYEED Dubai/Washington, June 13 ■ SPOTLIGHT, P5 C H E N N A I , Here’s how to enjoy the biggest sporting event on earth Page 8 and mediator Pakistan said on Saturday an initial deal to end thewarintheMiddleEastwould be signed on Sunday, although Iran denied the signing would take place so soon. Pakistani Prime Minister Shehbaz Sharif said the two sides had agreed on a framework for a peace deal and that Islamabadwas preparing foran electronicsigningonSunday,to be followed by technical-level talks nextweek. Trump also said in a social media post that the deal with Iranwas scheduled to be signed onSundayandthattheStraitof Hormuz,avital arteryforglobal oil supplies which Iran has blocked,would be immediately "open to all"afteritwas signed. Earlier on Saturday, Iranian Foreign Ministry spokesperson Esmaeil Baghaei cautioned against commenting on the timing the signing. "Wewillhavetowaitandsee abouttheexactdateofthesigning of the memorandum of understanding,although it will not be tomorrow," state media quoted Baghaei as saying. "The possibility of this happening in the coming days cannotberuledout.However,dueto WILL IT HAPPEN? ■ Pakistani PM Shehbaz Sharif said the two sides had agreed on a framework for a peace deal and Islamabad was preparing for an electronic signing on Sunday ■ Iran said possibility of deal signing in coming days can't be ruled out, but 'due to the hesitation of the other side, we must be cautious in making any comments about this process' ■ A US official said Strait of Hormuz could be open with no tolls by Iran, and if that happens, US will lift its blockade ■ The official indicated major power countries in the Group of Seven could have a role in the contours of deal DONALD TRMP, US PRESIDENT, ON TRUTH SOCIAL Our relationship with Iran is a much different and better one than previousAdministrations have had.Unlike Obama’s Hundreds of Billions of Dollars in payments to them,including 1.7 Billion Dollars in green,cold cash,no moneywill exchange hands.At the appropriate time,when all is calm,we will go in and get the Nuclear Dust...and downblend and destroy it the hesitation of the other side, we must be cautious in making any comments about this process."AUSofficialwhospoke to reporters later declined to be drawn on the timing but said: "It's a great deal and a very strong deal." Itisnotthefirsttimethetwo sides have appeared close to an initialagreementonendingthe war that began on February 28 with joint US-Israeli strikes on Iran,butSharifsaidonX:"Weare closer to a peace deal than ever before."The war has sent global energypricessharplyhigherand killed thousands of people, mostly in Iran and Lebanon, wherethewarhasrevivedaconflict between Israel and Iranaligned Hezbollah militants. What is in the deal? Iranian Foreign Minister Abbas Araqchi said on Friday that while changes in the deal were still possible,the tentative agreement showed his country had emerged strongerfrom the conflict. Hours after those remarks, US forces shot down multipleIranianone-wayattack drones heading toward the StraitofHormuz,asourcefamiliarwiththemattertoldReuters. Thesource,whospokeoncondition of anonymity, said the drones had posed a threat to commercial traffic. US Central Command later confirmed the action and said the strait, a major artery for global oil supplies,was open. Iran has for months effectively blockaded the strait, and theUSnavyhasblockedIranian ports to reduce its oil exports. The proposed memorandum of understanding calls for reopening the strait and lifting the US naval blockade, sources on all sides of the talks said. NegotiationsoverIran'snuclear programme — Trump's stated rationale for starting the war would take place afterwards. "Iran is going to open up the Strait of Hormuz, that's a requirement. It could be open with no tolls.As theydo that,we willliftourblockade,"saidtheUS official who spoke on Saturday. "It'sgoingtohappeninconjunction, and part of the next step, the phase after that,is going to be the demining of the straits," the official said, indicating countries in the Group of Seven major powers could have a role in this. PM Modi to meet Prez Trump at G7 REUTERS Washington, June 13 USPRESIDENTDONALD Trump Draft terms described to Reuters by multiple sources indicate the US would begin releasing billions of dollars in frozen Iranian assets and waive sanctions on its oil exports. willmeetPrimeMinisterNarendra Modi on the sidelines of the G7 meeting in France on Wednesday, local media reported quoting US officials. This will be the first meeting between the two leaders since February last year in Washington.Tradewouldbeanissuediscussedduringthemeetingduring next week’s gathering, but no agreement on a trade deal was expected at the summit, a senior US administration official said on Saturday. US Trade Representative Jamieson Greer willtraveltoIndiatheweekafter theG7leaders’summit,theofficial said, saying a trade agreementwas possible. Continued on Page 2 Continued on Page 2 Frozen assets BULLION FALLS ON FIRM REGULATOR ISSUES NOTICE DOLLAR, PROFIT BOOKING GOLD AND SILVER PRICES have fallen 5.51% and 8.38%, respectively, so far in June as investors booked profits following their sharp rally over the past year. Sentiment towards precious metals has also turned cautious amid the strengthening US dollar. From their peaks in January, gold and silver prices have declined 16% and 36.5%, respectively. Despite the recent correction, both precious metals have MCX spot gold prices (` per 10 gm) 180,000 147,367 160,000 delivered stellar returns over the longer term. In 2025, gold prices surged 75%, while silver prices soared 167%. Compiled by Kishor Kadam 330,000 241, 306 280,000 150,000 140,000 230,000 130,000 120,000 ● In compliance with all norms, claims company MCX spot silver prices (` per kg) 380,000 379,983 175,231 170,000 TataTrusts CEO Tata’s iPhone parts unit under pushes back Tamil Nadu pollution bodylens against‘noise’ Jan 29 2026 Jun 12 180,000 Jan 29 2026 Jun 12 MUNSIF VENGATTIL & ADITYA KALRA Bengaluru, June 13 GROUNDWATER ISSUE ■ Pollution body issued warning notice to Tata on May 25 from factory contaminated groundwater for nearby farms ● High average costs, travel hurdles moderate demand VAISHALI DAR New Delhi, June 13 THE TAMIL NADU Pollution Control Board has alleged wastewater discharged from a Tata components factory for Apple’s iPhone has contaminated the groundwater for nearby farms, and warned of a forced shutdown unless Tata gives a satisfactory explanation. Tata Electronics is central to Apple’s push to diversify iPhone production beyond China and is the second-biggest supplier to Apple in South Asia after Taiwan’s Foxconn. The Tata plant under investigation is in Hosur in Tamil Nadu and makes back panels and other components for iPhones.Farmland owners ■ Tata said had commissioned independent analysis through accredited lab ■ Tata is central to Apple’s manufacturing push beyond China near the factory had complained for months to the pollution board that wastewater from the factory was contaminating their land and open wells. The complaints led to five state inspections between December 2025 and May 2026, according to details from a previously unreported regulatory notice dated May 25 and reviewed by Reuters. THE FIFA WORLD Cup 2026 is attracting an over 5-millionstrong live audience this edition,butmatchattendeesfrom Indiaarelikelytobeonlyacontingent of about 30,000 as per industry estimates, far less than the 56,000 who travelled for the previous edition in Qatar in 2022. JointlyhostedbytheUnited States, Canada and Mexico, this year’s World Cup is proving to be farmore expensive in Premium match hospitality packages for knockout matches: `3 lakh-`25 lakh Match tickets for groupstage games: `45,000 `1.6 lakh terms of cost, logistics and travel challenges, resulting in tepid interest from Indian travellers.Thedynamicpricing strategy,employed forthe first time by FIFA, will escalate match ticket prices even further, and add to the average costs. And with global geopo- AMID CONTINUING LEGAL dis- ■ Body said Tata failed to take corrective action despite warnings The inspections found that Tata discharged wastewater into a rainwater harvesting pond inside its facility and that the pond overflowed to contaminate “groundwater in the open wells located in the adjacent agricultural lands”,the pollution board’s warning notice to Tata said. Tata had not taken any corrective actions on instructions issued by the pollution IndianattendanceatFIFAtobehalfover2022 A COSTLY AFFAIR URVI MALVANIA Mumbai, June 13 ■ Alleged wastewater Tickets for final match on July 19 at New Jersey’s MetLife Stadium: `7.65 lakh-`8.64 lakh (can rise because of dynamic pricing) Average cost has doubled to `5-6 lakh from `2-3 lakh for the Qatar World Cup in 2022 litical uncertainties, high airfares, visa issues, travel only gets tougher. While average costs per person to attend a single match in 2022 was `23lakh,itisdoubleofthatat`56 lakh per person this time. Higher costs are due to higher airfares, visa fees, and pricier match tickets. “The demand for FIFA held in the USA so far has been mutedascomparedtowhatwe sawwhen the tournamentwas last held in Qatar. There are multiple reasons for it. The ongoing geopolitical tensions have hurt outbound travel to Europe and USAbig time.Only essentialtravelishappeningas airfares are expensive, and there is general concern with regardtosafety.Moreover,getting a USvisa nowis extremely difficult. And, this time the tournament did not have a pre-event build up like it generallydoes.However,if thewar stops and football fever picks up, we might see more bookings from India,” said Rajiv Mehra, general secretary, Federation of Associations in Indian Tourism and Hospitality (FAITH). The slowdown is not limited to India.Several of the world’s most important football-travelmarketsarealso witnessing weaker demand than expected. Continued on Page 2 board in a previous letter dated December 23, 2025, it said in the three-page notice. Tata Electronics told Reuters in a statement it had commissioned an independent analysis through an accredited laboratory and that the study determined the company was “in full compliance with all regulatory norms”. Continued on Page 2 QUICK PICKS 5 IAF personnel killed in crash FIVE INDIAN AIR Force personnel were killed when their Russian-origin Antonov An-32 transport aircraft crashed in Assam on Saturday. The accident occurred during a routine sortie at 10 am. ■ PAGE 2 SpaceX shares close 19% higher SPACEX’S FIRST DAY on the bourses transformed the startup into one of the most-valuable public companies & handed buyers a 19% return. ■ PAGE 14 BENGALURU putes, governance-related scrutiny and intense media attention surrounding the Tata Trusts ecosystem, Tata Trusts Chief Executive Officer Siddharth Sharma has publicly pushed back against suggestions that the institution is in disarray,arguing that the focus should remain on its philanthropic work rather than what he described as‘noise’. In a post on LinkedIn, Sharma said he was prompted torespondafterreceivingamessage offering assistance in addressingthealleged‘chaos’at theTataTrusts.While acknowledging that sections of the media often amplify narratives that attract attention, he suggested that some narratives lacked adequate verification and analysis. “I thought of putting the record straight about the core activity of the TataTrusts,forwhichweexist— philanthropy,” Sharmawrote. The remarks come at a time when the trusts have found themselvesatthecentreofmultiple legal and governancerelated controversies. These include disputes over trustee SIDDHARTH SHARMA, TATA TRUSTS CEO This is not an institution in‘chaos’ but one which is doing what it does best — serving those at the margins of society appointments, questions surrounding governance structuresatcertaintrusts,andongoingdebatesoversuccessionand oversight within the broader Tata Trusts-Tata Sons framework.Withoutreferringdirectly to any of the controversies, Sharma sought to shift attention to the institution’s philanthropic activities. Continued on Page 2 Anthropiccutsaccess toFable5,Mythos5 PRESS TRUST OF INDIA New Delhi, June 13 ARTIFICIAL INTELLIGENCE MAJOR Anthropic has abruptly suspended access to its advancedAI models Fable 5 and Mythos 5 for all customers globally following an export control directive from the United States government citing national security concerns. As perthe company’s statement, the US government issued the directive to suspend all access to Fable and Mythos 5 by any foreign national, whether inside or outside the US,including foreign national Anthropic employees. “The net effect of this order is that we must abruptly disable Fable 5 and Mythos 5 for all our customers to ensure compliance.Access to all other Anthropic models will not be affected,”the company said. Continued on Page 2