WORLD
Israel resumes gas supplies to Egypt following six-day halt
Israel shut down two of its three gas fields on June 13 as a precautionary measure as the country exchanged missile fire with Iran
WORLD
US futures pare losses as Trump weighs Iran role
Contracts for the S&P 500 were down around 0.3% from Wednesday’s close in early Asia hours, compared with a 0.9% drop on Thursday when US markets were closed for the Juneteenth holiday.
INDIA
India may cut oil product exports if Strait of Hormuz is blocked
Iran has previously threatened to close the strait in times of conflict, though there’s no sign of that happening so far.
BUSINESS
India rupee at three-month low as oil spikes on mideast conflict
India relies heavily on overseas crude purchases to meet its energy needs, and rising oil prices pose risks to both the country’s fiscal position and inflation outlook.
INDIA
How an unpredictable summer has ignited concerns for India's consumer firms
A cooler-than-usual summer this year — followed by the earliest onset of rain since 2009 — has hurt companies selling everything from talcum powder to air conditioners
BUSINESS
Blackstone’s ASK plans to hire 70 wealth bankers in India
The rise of wealthy Indians across the country has sparked the creation of many new firms competing to manage their money
IPO
LG Electronics said to consider resuming IPO of Indian unit
The company is planning to refile its preliminary prospectus with updated financial results after the summer, with the IPO potentially taking place as early as the fourth quarter
WORLD
Asian stocks slide after US Fed’s inflation warning
MSCI’s regional gauge of shares was down 0.3%, as markets in Japan and Australia opened lower
BUSINESS
Nvidia joins $650 million funding for Gates-backed nuke firm
The funding round included new investors such as NVentures, the venture capital arm of Nvidia Corp., and existing backers Gates and HD Hyundai, a South Korean shipbuilder, according to a statement Wednesday
BUSINESS
Stocks rise after Trump says Iran has reached out
Equities staged a cautious bounce, with the S&P 500 remaining above 6,000 after moving slightly away from session highs
BUSINESS
Dollar falls as risk of dovish Fed offsets boost from oil
Spot traders are selling the currency against most peers, pushing down a gauge of the dollar to keep it near a three-year low on Wednesday ahead of the Fed’s policy decision later in the day
BUSINESS
US stocks rise as investors await Federal Reserve rate decision
A hawkish signal is expected from the Federal Open Market Committee’s meeting later on Wednesday
BUSINESS
Nippon Steel closes $14.1 billion acquisition of US Steel
The $55-a-share cash deal creates the world’s second largest steelmaker and turns the combined entity into a formidable competitor within the American steel industry
BUSINESS
Standard Chartered faces RBI scrutiny over lapses in derivatives sales
The RBI’s review of Standard Chartered is ongoing, with focus on derivative products and risk governance
BUSINESS
Fed to hold rates steady again as officials wait for more clarity on economy
Investors anticipate the next rate cut won’t come until at least September, with another one potentially following in December. Powell will likely try to avoid saying anything too definitive about this year’s rate path.
WORLD
China consumer rush for subsidies overloads stimulus program
The disruptions are putting Beijing at a crossroads as it looks for a longer-term fix to a crisis of confidence among households.
WORLD
Ultra rich turn Vietnam into a new hot spot for luxury yachts
Vietnam’s dollar millionaire population has grown at the fastest rate in the world, almost doubling between 2013 and 2023
INDIA
Outdated census data threatens India’s vast welfare programs
Without fresh numbers, Niti Aayog, a government think tank, is left to estimate shifts in India’s demographics
WORLD
Oil near five-month high on Middle-East tensions
MSCI’s gauge of Asian equities fell for a second day after the S&P 500 dropped 0.8%
WORLD
Elon Musk’s X sues New York over law requiring hate-speech data
X said the rules are based on a “nearly identical” California law that the company successfully challenged in court
BUSINESS
MakeMyTrip seeks over $2 billion in shares, convertible sale
MakeMyTrip is offering 14 million new shares, and is also seeking to raise $1.25 billion from the sale of zero-coupon convertible bonds, according to a statement Monday
BUSINESS
G-7 works to secure critical minerals in face of China curbs
G-7 leaders aim to agree to a statement at their meeting in Kananaskis, Canada, to establish an “action plan” to diversify supplies of the vital metals and encourage “immediate and scaled investment” in projects.
BUSINESS
Oil rises, US futures drop on Trump Tehran warning
A gauge of Asian stocks slipped, though Japanese and South Korean shares were marginally higher, after risk-on sentiment returned to Wall Street on Monday and pushed the S&P 500 up about 1% and back above 6,000.
BUSINESS
Hormuz oil flows show muted impact from Iran-Israel conflict
While there have been some attacks on energy infrastructure in both countries, the most oil-price-sensitive sites, including Hormuz and the major Kharg Island export terminal, have been spared.
