INDIA
India refiners may buy more Russian oil as discounts deepen
Discounts on Urals crude loading in November are $2-to-$2.50 a barrel to Dated Brent, making it attractive, according to people familiar with the developments
BUSINESS
BMW drops after forecast cut on weak China sales, tariff costs
The stock fell as much as 5.2% in Frankfurt, after the luxury-car maker said it now sees pre-tax group earnings slightly lower in 2025 compared to last year
BUSINESS
Credila Financial slowing down IPO plans on US visa rules: Report
President Donald Trump’s tightening of immigration policies has led to a sharp drop in student arrivals to the US
INDIA
Mumbai's $4-bn makeover kicks in as PM Modi to open Adani airport, new metro line today
Modi will preside over the launch of the Navi Mumbai International Airport on October 8 alongside billionaire Gautam Adani
BUSINESS
Gold tops $4,000 for first time fueled by US shutdown
It’s a milestone moment for the metal that traded below $2,000 just two years ago, with returns that now well outstrip those for equities this century.
BUSINESS
Asian stocks slip at open, gold close to $4,000
MSCI’s regional stock gauge dropped 0.2% with technology shares among the losers.
BUSINESS
Nvidia to invest in Musk’s xAI as part of $20 billion funding
XAI’s financing would be split between about $7.5 billion of equity and as much as $12.5 billion of debt, the people said, and structured via a special purpose vehicle.
WORLD
Trump says US and Canada working on formula for tariff deal
Canada is the largest foreign buyer of US-made vehicles, and also exports most of its own automotive production to the US market.
BUSINESS
Brookfield-backed Clean Max plans $586 million IPO in November
The commercial and industrial renewable energy provider has started investor roadshows and aims to begin the share sale next month after getting regulatory approvals
BUSINESS
Pakistan Central Bank says further rate cuts hinge on IMF review
The comments come ahead of the monetary policy meeting on Oct 27, and as an IMF team is in Pakistan for a second review of its $7 billion loan program
BUSINESS
AMD inks chip deal with OpenAI that triggers explosive rally
AMD shares soared 24% to $203.71 after the agreement was announced Monday, adding $63.4 billion to the company’s market valuation. It’s now worth $330.6 billion, more than Coca-Cola Co., General Electric Co. or Chevron Corp.
ECONOMY
PM Starmer leads business delegation to India to tout UK trade pact
Starmer finalized the deal with his PM Narendra Modi, in July, following three years of intense negotiations
BUSINESS
Gold moves closer to $4,000 on US shutdown and French crisis
Bullion rose to $3,977.44 an ounce after surging 1.9% on Monday
MARKETS
Japanese shares rise at open, gold nears $4,000
The Nikkei index gained 0.6% to a new peak, following a 4.8% jump on Monday
BUSINESS
LG Electronics India IPO said to attract Abu Dhabi, Norway, Singapore Wealth Funds as anchor investors: Report
LG Electronics India IPO: Abu Dhabi Investment Authority, Norges Bank Investment Management and GIC Pte. are in talks to buy shares in the $1.3 billion IPO as anchor investors, sources told Bloomberg.
BUSINESS
Sunil Mittal’s Bharti Telecom mulls record $1.7 billion bond deal
If completed, the deal would mark Bharti Telecom’s largest-ever rupee bond sale, according to data compiled by Bloomberg. The company last tapped the local debt market in November 2024, raising Rs 11,150 crore through a six-part issuance.
BUSINESS
Bitcoin’s weekend rally fueled by record bets in Options markets
Bitcoin’s advance coincided with a US government shutdown that began on Oct. 1 and has helped fuel demand for perceived safe-haven assets.
INDIA
Air India inspected emergency power use on UK-bound flight
The operating crew of flight AI117 detected RAT deployment in the aircraft during its final approach, Air India said in a statement Sunday, adding that it had inspected the jet.
BUSINESS
India weighs resolution of Vodafone Idea dues row to bolster UK ties
Resolution in the nearly Rs 2 trillion financial dispute may come through a waiver of interest and penalties, followed by a concession on the principal
BUSINESS
Japan’s defense, tech stocks climb as ‘Takaichi trade’ reignites
Chip-related shares, including Tokyo Electron Ltd. and Advantest Corp. also surged, outperforming the benchmark Topix.
BUSINESS
Bitcoin hovers near record after topping $125,000 on Sunday
The largest digital-asset climbed to $125,689 over the weekend and remained in touching distance of its all-time high on Monday morning in Singapore at about $123,700, according to data compiled by Bloomberg.
BUSINESS
Gold powers toward $4,000 as US government shutdown drags on
Gold has surged almost 50% this year, spurred by the massive jolt of economic and geopolitical uncertainty that President Donald Trump has brought to the market.
BUSINESS
Asian shares jump to record on Japan, gold rallies
The Nikkei 225 index jumped more than 4%, heading for the biggest one-day gain since April, after pro-stimulus lawmaker Sanae Takaichi was positioned to become the country’s next prime minister.
WORLD
Israel, Hamas set for talks over Trump’s Gaza peace plan in Egypt on Monday
Egypt, a key intermediary in truce talks, said it would host delegations from both sides to discuss a possible exchange of Israeli hostages for Palestinian prisoners
