INDIA
Global airlines pile on India capacity as US-Europe traffic drops
Foreign airlines and the biggest Indian operators announced a range of plans at the International Air Transport Association annual general meeting in New Delhi this week
BUSINESS
Asian shares rise at open after US jobs surprise
South Korean stocks led the moves with a 1.6% jump for the Kospi Index after the country elected a new president, capping six months of chaos.
BUSINESS
Trump signs order hiking steel, aluminum tariffs to 50%
The order said the previous charge had “not yet enabled” domestic industries “to develop and maintain the rates of capacity production utilization that are necessary for the industries’ sustained health and for projected national defense needs.
BUSINESS
Adani mulls entering airport ground services after Celebi’s exit
Indian regulations require that every major airport with annual passenger traffic of at least a million should have three ground handlers.
BUSINESS
Block trades power cash market turnover to seven-month high
Zinka Logistics, Aptus Value and Yes Bank were among stocks that witnessed a surge in volumes on June 3, fuelled by multiple block trades. True North and others sold over $175 million worth of Niva Bupa shares in a block deal in the previous session.
BUSINESS
Trump’s tariffs plunge US and global economy into slowdown
The OECD now forecasts global economic growth to slow to 2.9% this year from 3.3% in 2024. It expects the rate of expansion in the US will tumble further, to 1.6% from 2.8% — an outlook that is significantly lower than its projection in March.
BUSINESS
China private factory gauge plunges to weakest in over two years
The Caixin manufacturing purchasing managers’ index fell to 48.3 last month from 50.4 in April, according to a statement released by Caixin and S&P Global on Tuesday, well below the 50 mark separating expansion from contraction.
BUSINESS
India seeks bigger, more frequent dividends from state-run firms
The government wants to garner about Rs 90,000 crore through dividends in the year through March 2026, compared with Rs 74,020 crore received in the previous year
MARKETS
Turf war between NSE and BSE over derivatives market heats up
NSE is trying to change the expiration for listed derivative contracts from Thursday to Tuesday — a day traditionally dominated by its smaller bourse BSE
BUSINESS
Asian stocks start cautious, dollar holds drop
A regional stock index swung between small gains and losses while equity-index futures for the US dipped 0.2%.
BUSINESS
Air India CEO says Pakistan airspace ban adding to flying costs
The new policy, if it draws industry giants, will also intensify competition for local automakers who currently dominate the EV segment.
BUSINESS
Philippines eyes India, Thailand rice to cut Vietnam reliance
Affordable prices of the staple grain are central to the agenda of President Ferdinand Marcos Jr., who also helmed the agriculture department before appointing Laurel in November 2023.
CURRENCY
A $73 billion short book is putting pressure on rupee
The Reserve Bank of India had dollar repayments of near record high of $84.3 billion as of March as indicated by its net short forwards position
WORLD
China accuses US of violating trade truce, vows firm response
Beijing accused the US of unilaterally introducing new discriminatory restrictions, including new guidelines on AI chip export controls
BUSINESS
Asia stocks drop, gold rises as trade frictions ramp up
A gauge of Asian stocks fell 0.7% while S&P 500 futures slipped 0.3% after President Donald Trump said he would double tariffs on steel and aluminum imports
BUSINESS
Builder.ai faked business with Indian firm VerSe to inflate sales, sources say
Umang Bedi, a VerSe co-founder, said it was “absolutely baseless and false” that his company would have recorded expenses or billed services that it didn’t receive or provide.
WORLD
Hamas submits truce response with conditions; US envoy calls it 'totally unacceptable'
Hamas submitted a conditional response to the U.S. Gaza truce proposal, which envoy Steve Witkoff rejected as "totally unacceptable."
WORLD
Hamas submits response to US proposal for Gaza ceasefire
As part of the agreement, Hamas would release 10 living Israeli prisoners and return 18 bodies
WORLD
Trump’s promises of easy wins meet reality during a rocky week
Russian President Vladimir Putin has ignored his calls for a ceasefire with Ukraine
WORLD
Trump’s appetite for punishing Putin is about to get a key test
Trump has so far sought to use the congressional sanctions bill to encourage Putin to come to the negotiating table
INDIA
Adani Group outlines transport network in rebuild of Mumbai slum
BUSINESS
OPEC+ agrees on third oil supply surge to deepen price slump
The hike follows equally sized increases scheduled for May and June, marking a clear break with years of efforts by the group to support global oil prices.
BUSINESS
Jamie Dimon says crack in the bond market is ‘going to happen’
The longtime boss of the biggest US bank echoed comments he made last month, when he said he expects a “kerfuffle” in the Treasury market that prompts a Fed intervention.
BUSINESS
Baba Ramdev's Patanjali faces scrutiny over financial deals
The corporate affairs ministry sent a notice to the company after the economic intelligence wing found transactions it labeled as abnormal and dubious
