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World’s Oldest Travel firm and British travel giant Thomas Cook collapses, stranding hundreds of thousands

Thomas Cook , the World’s Oldest and British travel giant firm on Monday, September 23, declared bankruptcy after failing to reach a last-ditch rescue deal, triggering the UK’s biggest repatriation since World War II to bring back stranded passengers.

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[vc_row][vc_column][vc_column_text]Thomas Cook , the World’s Oldest and British travel giant firm on Monday, September 23, declared bankruptcy after failing to reach a last-ditch rescue deal, triggering the UK’s biggest repatriation since World War II to bring back stranded passengers.

The 178-year-old operator had been desperately seeking £200 million ($250 million) from private investors to save it from collapse.

“Despite considerable efforts, those discussions have not resulted in agreement between the company’s stakeholders and proposed new money providers,” Thomas Cook said in a statement. “The company’s board has therefore concluded that it had no choice but to take steps to enter into compulsory liquidation with immediate effect,” it added. 

Chief Executive Peter Fankhauser said it was a matter of profound regret that the company had gone out of business after it failed to secure a rescue package from its lenders in frantic talks that went through the weekend.

“I would like to apologise to our millions of customers, and thousands of employees, suppliers and partners who have supported us for many years,” Fankhauser said in a statement.

“It is a matter of profound regret to me and the rest of the board that we were not successful,” he added.

“This marks a deeply sad day for the company which pioneered package holidays and made travel possible for millions of people around the world,” he further said.

British Prime Minister Boris Johnson pledged to get stranded British travellers home and revealed that the government had rejected a request from Thomas Cook for a bailout of about 150 million pounds ($187.1 million) because doing so would have set up a “moral hazard”.

“It is a very difficult situation and obviously our thoughts are very much with the customers of Thomas Cook, the holiday makers who may now face difficulties getting home we will do our level best to get them home,” he told  reporters on a plane as he headed to the UN General Assembly in New York.

The government said it had hired planes to fly home an estimated 150,000 holidaymakers to the UK, in an operation starting on Monday.

British Transport Minister Grant Shapps said the government had managed to “acquire planes from across the world” to get people home, and call centres had been established to answer travellers’ queries.

Transport Secretary Grant Shapps also announced that the government and UK Civil Aviation Authority has hired dozens of charter planes to fly customers home free of charge,” a separate statement said, describing it as the largest repatriation in peacetime history.

“All customers currently abroad with Thomas Cook who is booked to return to the UK over the next two weeks will be brought home as close as possible to their booked return date,” he said. 

The firm’s creditors held a marathon meeting on Sunday, September 22, to try and work out a deal, followed by a meeting of the board of directors.

 Reports said a collapse of the group would mean the repatriation of 600,000 tourists, including around 150,000 seeking government help returning to the UK.

Two years ago, the collapse of Monarch Airlines prompted the British government to take emergency action to return 110,000 stranded passengers, costing taxpayers some £60 million on hiring planes.

Not only the grounding of its planes, Thomas Cook has been forced to shut travel agencies, leaving the group’s 22,000 global employees, 9,000 of whom are in Britain, out of a job.

Holidaymakers had already reported problems, with guests at a hotel in Tunisia owed money by Thomas Cook being asked for extra money before being allowed to leave, according to reports.

Ryan Farmer, from Leicestershire, told BBC Radio Five’s Stephen Nolan the hotel had on Saturday afternoon summoned all guests who were due to leave to go to reception “to pay additional fees”.

With many tourists refusing to pay on the grounds they had already paid Thomas Cook, security guards were keeping the hotel’s gates shut, refusing to allow guests out, or to let new visitors enter.

“We can’t leave the hotel. I’d describe it as exactly the same as being held hostage,” Farmer said.

Thomas Cook in May revealed that first-half losses widened on a major write-down, caused in part by Brexit uncertainty that delayed summer holiday bookings. The group, which has around 600 stores across the UK, has also come under pressure from fierce online competition.

Cabinet maker Thomas Cook created the travel firm in 1841 to carry temperance supporters by train between British cities. It soon began arranging foreign trips, being the first operator to take British travellers on escorted visits to Europe in 1855, to the United States in 1866 and on round-the-world trips in 1872.

The company was also a pioneer in introducing “circular note” — products that would later become traveller’s cheques.

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PM Modi and Netanyahu pledge deeper defence, trade ties during Israel visit

PM Narendra Modi and Benjamin Netanyahu pledged to deepen defence, trade and connectivity ties during Modi’s visit to Israel, with missile deals and IMEC discussions on the agenda.

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Prime Minister Narendra Modi and Israeli Prime Minister Benjamin Netanyahu have reaffirmed their commitment to strengthening defence, trade and security cooperation, marking a significant step forward in India-Israel relations during Mr Modi’s visit to Tel Aviv.

Addressing Israel’s parliament, the Knesset, Mr Modi described defence cooperation as an “important pillar” of the bilateral partnership and stressed the need for closer collaboration in an increasingly uncertain global environment.

“In today’s uncertain world, a strong defence partnership between trusted partners like India and Israel is of vital importance,” he said.

Defence deal likely on agenda

During the visit — Mr Modi’s first to Israel in nine years — discussions are expected to include a major order for Israeli-made missile systems. An official in New Delhi familiar with the matter indicated that details of the potential deal may not be publicly disclosed, as both governments are keen to keep the spotlight on broader strategic ties.

India’s Ministry of External Affairs has not commented on the reported missile purchase.

Israel has long been among India’s key arms suppliers. Over the years, the defence relationship has evolved into joint manufacturing projects, including drones and missile systems. Ahead of the visit, Israel’s Ambassador to India, Reuven Azar, said both sides are working towards a more comprehensive defence and security framework that could open doors for cooperation on more sensitive projects.

Focus on trade and investment

Trade and investment featured prominently in the leaders’ discussions. Mr Modi said both governments are committed to expanding bilateral trade, boosting investment flows and promoting joint infrastructure projects.

Israeli negotiators recently travelled to India to begin formal talks on a proposed free-trade agreement, building on terms agreed in November. Such a pact could provide Israel greater access to one of the world’s fastest-growing economies.

According to Israel’s Economy and Industry Ministry, India is Israel’s second-largest trading partner in Asia, with bilateral trade estimated at $5 billion in 2025, excluding defence transactions.

India is also the largest buyer of Israeli defence equipment, accounting for up to 34% of Israel’s total arms exports, according to data from the Stockholm International Peace Research Institute.

Regional security and Gaza ceasefire

The visit comes amid shifting regional alliances and ongoing security challenges. Referring to last year’s ceasefire in Gaza, Mr Modi said the truce created an opportunity for closer cooperation.

He also welcomed the US-brokered peace plan for Gaza, later endorsed by the United Nations, saying it holds the promise of a just and durable peace, including progress on the Palestine issue. However, uncertainty remains over the future of the truce with Hamas, with key governance and security questions yet to be resolved.

Strategic observers note that both leaders see their countries as operating in complex neighbourhoods marked by security threats and geopolitical shifts.

Connectivity push through IMEC

Connectivity initiatives also featured in the discussions. Mr Netanyahu told the Knesset that India and Israel are working on developing a maritime and land corridor linking India to Israel’s port of Haifa and onward to Europe.

The plan builds on the India-Middle East-Europe Economic Corridor initiative unveiled in September 2023. Although the outbreak of the Israel-Hamas conflict soon after raised concerns about the project’s future, Israeli officials have indicated that the corridor remains viable.

Haifa port, partly acquired by India’s Adani Group, is expected to play a key role as the Mediterranean endpoint of the corridor.

As India and Israel seek to reinforce strategic, economic and security ties, the visit underlines the growing convergence between New Delhi and Tel Aviv in defence, trade and regional connectivity.

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Canada softens stance on alleged Indian interference ahead of PM Carney’s India visit

Canada appears to ease its earlier allegations of Indian interference as PM Mark Carney heads to India to strengthen trade and strategic ties.

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Canada appears to be easing its earlier allegations of Indian interference as Prime Minister Mark Carney prepares for a key visit to India aimed at rebuilding commercial and diplomatic ties.

Senior officials in Ottawa indicated that the Canadian government maintains “mature and robust discussions” with the Government of India on concerns related to foreign interference. They also emphasised that Canada has strong safeguards in place to protect its democratic institutions.

According to officials quoted by media, the Prime Minister would likely not be travelling to India if Ottawa believed New Delhi was actively interfering in Canada’s democratic processes. The remarks suggest a noticeable shift from the strong accusations levelled last year.

Officials said there has been sustained engagement with the government of Narendra Modi at multiple levels, including senior officials, ministers and leadership-level interactions. They expressed confidence that the discussions provide a foundation for further constructive dialogue.

At the same time, a senior official reiterated that Canada maintains “no tolerance” for foreign interference in its domestic affairs.

From allegations to engagement

The recent comments contrast with statements made last June by the Canadian Security Intelligence Service (CSIS), which accused India of being among the primary actors involved in foreign interference and espionage activities in Canada.

CSIS had also described alleged links between Indian authorities and the 2023 killing of Hardeep Singh Nijjar in Vancouver as a “significant escalation” in India’s actions against the Khalistan movement.

India firmly rejected those accusations. The dispute triggered a diplomatic standoff, with both countries expelling senior diplomats from Ottawa and New Delhi in a tit-for-tat move.

Carney’s push to rebuild ties

Prime Minister Carney’s visit to India is being positioned as part of a broader Indo-Pacific outreach and a more pragmatic foreign policy approach. His trip will begin in Mumbai before he heads to New Delhi for talks with Prime Minister Modi.

The visit comes as both nations seek to stabilise relations that deteriorated sharply following Canada’s allegations over Nijjar’s killing — claims that New Delhi strongly denied.

Carney’s office has said discussions will centre on expanding cooperation in trade, energy, technology, artificial intelligence, talent mobility, culture and defence.

Growing trade partnership

India is currently Canada’s seventh-largest trading partner in goods and services. Annual bilateral trade exceeds $21 billion, according to Canadian government data.

The two sides had previously agreed to resume negotiations on a proposed free-trade agreement, targeting bilateral trade of $50 billion by 2030.

More than 600 Canadian companies operate in India across sectors such as information technology, banking, health sciences and financial services. Key Indian exports to Canada include pharmaceuticals, gems and jewellery, precious stones and seafood.

Diplomatic ties show signs of recovery

Canada hosts approximately 2.8 million people of Indian origin. Nearly 400,000 Indian students are enrolled in Canadian universities, making them the largest group of international students in the country.

Canada is also home to the largest Sikh population outside India, including some fringe separatist elements advocating for Khalistan.

Relations between the two countries began to improve after Carney assumed office in March 2025, with envoys restored and diplomatic engagement gradually resuming.

The upcoming visit is being viewed as a significant step toward stabilising ties and advancing economic cooperation amid shifting global trade dynamics and uncertainties linked to policies under US President Donald Trump.

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PM Modi reaffirms support for Israel, recalls 26/11 victims in Knesset address

Addressing Israel’s parliament, PM Narendra Modi reaffirmed India’s support for Israel, condemned terrorism, and recalled the 26/11 Mumbai attacks.

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Prime Minister Narendra Modi on Wednesday addressed the Knesset, expressing solidarity with Israel and condemning terrorism, while highlighting the growing partnership between the two nations.

Calling it a rare honour, Mr Modi said he brought greetings from 1.4 billion Indians and described his address as a symbol of the warmth between the two democracies.

Condolences over October 7 attack

The Prime Minister conveyed condolences for the lives lost in the October 7 attack by Hamas. He said India shares Israel’s grief and stands firmly with the country “with full conviction in this moment and beyond”.

“Nothing can justify terrorism,” Mr Modi said, adding that India too has suffered from terror attacks for decades. He recalled the 26/11 Mumbai attacks and the innocent lives lost, including Israeli citizens, and reiterated India’s policy of zero tolerance towards terrorism without double standards.

Reference to Abraham Accords and regional hope

Referring to the Abraham Accords, Mr Modi said India had applauded the vision and courage shown at the time. While noting that the regional situation has since become more challenging, he stressed the importance of sustaining hope for peace.

Historic ties and expanding partnership

The Prime Minister said he was the first Indian Prime Minister to visit Israel nine years ago and expressed happiness at returning. He also noted that he shares his birth date — September 17, 1950 — with the day India formally recognised Israel.

Recalling his earlier visit to Israel as Gujarat Chief Minister in 2006 and his 2017 trip as Prime Minister, Mr Modi said bilateral ties were elevated to a Strategic Partnership during the latter visit. Since then, he added, engagement has broadened across sectors.

He pointed to cooperation in innovation, mentioning the inauguration of the iCreate Technology Business Incubator in 2018 with then Prime Minister Benjamin Netanyahu. The incubator, he said, has since supported nearly 900 start-ups.

Shared civilisational values

Mr Modi said Jewish communities have lived in India without fear of persecution and have preserved their faith while participating fully in society. He described this as a matter of pride.

Highlighting philosophical parallels, he referred to the Israeli concept of “Tikkun Olam”, meaning healing the world, and India’s belief in “Vasudhaiva Kutumbakam”, which sees the world as one family. Both traditions, he said, call for compassion and moral courage beyond immediate boundaries.

He also acknowledged the contribution of Indian caregivers and skilled workers in Israel, noting their courage and dedication, including during the October 7 crisis.

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