COMPANIES
Food giant Wilmar hit by $150 million loss from Pakistan company
The Singapore-listed trader revealed in its full-year financial statement last week that it had made the provision for losses in relation to an 'associated company' in Pakistan
INDIA
Billionaire Nirmal Jain bets on India’s wealth boom to hire, woo assets
IIFL Capital Services Ltd.’s wealth book of about Rs 60,000 crore ($6.6 billion) will expand 80% to 100% over the next 24 months, Jain said
WORLD
Major insurance clubs to end ship war-risk cover in Persian Gulf
The decision only affects war risks, with other terms of cover remaining unchanged.
INDIA
Mark Carney meets Modi in New Delhi, marking new chapter in ties
The two leaders shook hands as they kicked off their meeting at Hyderabad House, a colonial-era state guest house used for high-level diplomatic meetings
BUSINESS
Indian refiners eye Russian oil again as Iran crisis hits supply
The world’s third-largest oil importer is considering options that include turning to Russian cargoes currently loitering near its waters, according to people familiar with the discussions.
BUSINESS
Amazon cloud suffers outage after 'objects' hit UAE data center
AWS said the incident took place around 4:30 p.m. Dubai time on Sunday and the fire department shut off power to the facility and generators as they worked to extinguish the blaze, according to a post on its Health Dashboard.
BUSINESS
Gold climbs as Middle East war drives investor rush to safety
Bullion climbed more than 2% to around $5,390 an ounce in early trading, having gained more than 3% in the previous week as American troops amassed in the region.
BUSINESS
OPEC+ confirms 206k barrel-a-day production hike for April
The increase exceeds the monthly increments of just 137,000 barrels a day in the fourth quarter and comes amid turmoil roiling the Middle East
BUSINESS
Iran crisis threatens worst disruption in gas markets since 2022
Iran’s neighbors, like Qatar, are some of the world’s most important producers, and the region is also a vital supply route, with 20% of liquefied natural gas exports traveling through the Strait of Hormuz, a crucial chokepoint for global energy.
BUSINESS
Bitcoin recovers above $68,000 after death of Iranian leader Khamenei
The original cryptocurrency rose as much as 2.21% to $68,196 following the news. It was trading at around $67,700 at 11 a.m. in Singapore, after dropping as much as 3.8% the previous day.
WORLD
Trump gambles new Iran attack will save flailing MAGA agenda
Attack on Iran comes less than two months after Trump ordered a high-stakes US military raid inside Venezuela, another signal that his second term has tilted toward muscular intervention abroad.
BUSINESS
OPEC+ to weigh bigger hike after Iran strike, delegate says
The group led by Saudi Arabia and Russia was expected to resume modest production increases from April after a three month supply freeze, several delegates said earlier this week.
BUSINESS
Bitcoin slides below $64,000 after explosions reported in Tehran
Bitcoin dropped as much as 3.8% to $63,038, while Ether, the second-largest token, slid 4.5% to $1,835.
WORLD
Trump administration seeks delay in tariff refund fight
The government wants to wait as long as four months before reviving litigation before the US Court of International Trade on the refund question
WORLD
Bill Clinton deposition focused on Epstein flights, DC visits
Hillary Clinton was questioned by the panel Thursday and told reporters afterward she is confident her husband knew nothing about Epstein’s crimes.
SCIENCE
NASA overhauls moon mission in effort to cut risks and costs
The changes announced on Friday mean that NASA is essentially swapping the actual moon landing for an additional test mission staged closer to Earth
COMPANIES
Coal India inventories swell as miner gears up for summer demand
The state-owned company had 115 million tons in unsold stockpiles as of February 26, which are expected to rise through the next month
BUSINESS
India’s GDP revisions mean it will take longer to overtake Japan
The government published GDP using a new base year, estimating the size of the economy at Rs 345.47 lakh crore, in nominal terms, in the fiscal year ending in March
BUSINESS
Bitcoin sinks towards $65,000 as inflation douses risk appetite
The largest cryptocurrency fell more than 3.5% to $65,674 in early morning New York trading, before reversing some of the decline
WORLD
UK PM Starmer under pressure to tack left after Green election upset
The result underscores the recent fragmentation of UK politics and the disruption of long-held electoral certainties
BUSINESS
Barclays considers Blockchain platform for payments, deposits
Barclays’s push into blockchain technology could include payments applications like stablecoins and tokenized deposits, the people said.
WORLD
Even states with no income tax in US are flirting with taxing the rich
In Washington state, where income taxes have long been anathema, there is talk of a new levy on top earners
BUSINESS
Deutsche Bank’s Epstein Files throw family offices into the open
For Deutsche Bank, the new details on its historical ties to Epstein sets back a long-running effort to shake off the lender’s previous reputation as a magnet for scandals
BUSINESS
Raghuram Rajan says AI to disrupt India’s services sector, not derail
A recent note by Citrini Research warned that Indian IT firms could see pressure on revenues, triggering a selloff in their stocks earlier this week
