WORLD
Stocks sink, oil jumps as Mideast tensions build
The S&P 500 lost over 1%, wiping out this week’s advance. Airline and travel companies tumbled, while energy producers and defense shares rose.
WORLD
Wall Street’s momentum machine faces a Middle East stress test
The airstrikes disrupted this trading pattern Friday, without shattering it. And in the end, another Wall Street phenomenon proved equally important in salvaging the week: momentum.
WORLD
India and Canada reach deal to share intelligence on terrorism, crime
The new information-sharing arrangement, which includes law enforcement agencies from both countries, will allow them to swap intelligence on transnational crime
BUSINESS
Deadly Air India crash puts ambitious turnaround plans at risk
The incident marks the first-ever complete loss of a 787 and, as investigations get underway, questions are growing over how the jet exploded into a fireball including around the plane’s thrust
BUSINESS
India open to easing EV rules as China’s rare earth curbs bite
Although the Society of Indian Automobile Manufacturers is yet to make a formal plea for paring the localization requirement, the industry body’s members have flagged the need in various consultations with the government.
BUSINESS
European gas prices jump as middle east risk returns to market
A key concern is that hostilities could disrupt shipments through the Strait of Hormuz, an important waterway for liquefied natural gas and oil.
BUSINESS
BYD manager calls EV price war it helped spark unsustainable
Beijing summoned industry leaders for talks earlier this month, telling EV makers not to sell cars below cost or offer unreasonable price cuts.
BUSINESS
A $115 billion fund manager bets on India's shortest maturity debt
The recent slowdown was a “mid-cycle correction”, and the central bank’s policy support has laid the groundwork for growth to return to its long-term trend, Manish Banthia, chief investment officer of fixed-income at ICICI Prudential AMC said.
BUSINESS
Oil outlook in flux as analysts revise views after Israel strike
Brent crude jumped more than 13% following the attacks, which targeted Iran’s nuclear program and military capabilities, in a major escalation in tensions between two major military powers that risks spiraling into a regional war.
BUSINESS
Jio BlackRock said to hire Rishi Kohli as CIO of mutual-fund unit
Kohli will start in the third quarter of this year, Bloomberg said citing sources
WORLD
Airbus sees global aircraft fleet doubling by 2044, led by India
India’s domestic network will be the fastest growing aviation market over the next two decades, while China will be the biggest by capacity by then, Airbus said
BUSINESS
‘I need exposure to India’ mood revs up block trades, IPO plans
India saw $6.4 billion raised through share sales in May, the highest monthly total since December 2024
MARKETS
Citadel Securities hires Millennium’s Narang for Asia COO team
A newer crop of market makers, including Citadel Securities and Jane Street Group, are chipping away at banks’ dominance of the business
BUSINESS
Asia’s easing prices pave path for rate cuts and US divergence
In April, regional consumer prices on a simple average basis excluding Japan slowed to about 1.5%, the lowest level since the first quarter of 2021, according to economists at Nomura Holdings Inc.
BUSINESS
Reserve Bank sends conflicting signals with surprise moves
The Reserve Bank of India surprised analysts last week by cutting interest rates more than expected and announcing a cash boost for banks
BUSINESS
Adani plans airport unit IPO by 2027, hastens $100 billion capex
Currently owned by the flagship Adani Enterprises, the firm operates eight airports and will be opening a new terminal on the outskirts of Mumbai in a few months time
BUSINESS
NSDL's Rs 3,400-crore IPO likely in July: Report
WORLD
China rare-earth magnet maker gets green light for US exports
JL Mag Rare-Earth Co. said that officials approved a certain number of export applications, and the company had permits for regions including the US, Europe and Southeast Asia
BUSINESS
Qantas says Singapore airport fee hikes fueled Jetstar Asia cut
Cost increases have been seen across “the whole ecosystem we operate out of,” Jetstar Group Chief Executive Officer Stephanie Tully told reporters at a briefing Wednesday. “The airport fees are a part of that. That has had an impact on the business.”
BUSINESS
Motilal Oswal Financial to enter private credit, ropes in Modulus head
Motilal’s private credit business will fall under the umbrella of Motilal Oswal Alternates, said the people, which has about $1.8 billion of assets under management, according to its website.
BUSINESS
GQG’s Jain cuts AI exposure on data center woes, backs utilities
Known for his contrarian bets, Jain bought into Adani Group stocks in 2023 when shares tanked in the fallout from a Hindenburg Research report that alleged accounting fraud.
INDIA
IOCL, BPCL, HPCL plan to order 10 India-made tankers for domestic use
The joint proposal could be valued at as much as $600 million, and will require delivery to start by 2028
WORLD
US treasury secretary Scott Bessent emerging as contender to succeed Fed’s Powell
President Donald Trump said Friday he would name a successor “very soon” to replace Jerome Powell, whose term as Fed chair ends in May 2026
BUSINESS
Trump tariffs can remain in effect, US appeals court says
The Trump administration asked the appeals court to step in after the US Court of International Trade last month ruled that Trump had misused an emergency law to implement the tariffs.
