South Asia

Analysts say that the Middle East conflict and higher oil prices threaten to shift emerging markets towards a more "hawkish" policy. In the next two weeks, more than a dozen emerging market central banks will be meeting to discuss their monetary policies. Goldman Sachs analysts noted that "markets that have been under the most pressure are those that were owned by investors anticipating rate?cuts in CEEMEA, LatAm and Latin America) and that also tend to be highly sensitive to global supply side shocks." Global financial markets are gripped by fears of an oil price spike due to the U.S. -...

Indian shares rose in morning trading on Thursday. A rebound in Reliance, and a rally in global stocks helped the market. Risk appetite had improved after the war in the Middle East, which had dragged down shares for the remainder of the week. As of 10:02 a.m. IST, the Nifty 50 index was up 0.61% to 24,631.3, and the BSE Sensex gained 0.54%, reaching 79,530.98. Over the last three sessions, both benchmarks dropped by about 4%. Avinash Gorakshakar is the director of research for Profitmart Securities. He said that while the markets may have staged a partial rebound after the...

Indian shares will open lower on Tuesday, as escalating U.S. - Israel?clashes? with Iran lifted crude oil to a high of 19 months,?disrupted Middle East shipments? and stoked fear of a long-term conflict?,?intensifying the risk aversion. Gift Nifty futures were trading at 24,442.5 points by 7:52 am IST. This indicates that the benchmark Nifty will open lower than Monday's closing price of 24,865.7. The domestic markets were closed for a holiday in the locality on Tuesday. Wall Street also closed lower over night on fears that a larger Mideast conflict could cause an energy shock, which would increase inflation and...

Donald Trump said he was'very disappointed'?with British Premier?Minister Keir Starmer because he refused to allow the U.S. use of the Diego Garcia Air Base to conduct strikes against Iran, according to an interview with the Daily Telegraph. The?U.S. was initially reportedly denied permission to conduct air strikes from its bases. Starmer said he would accept a request to use its bases for air strikes against Iranian targets. In an interview published Monday, Trump said that Starmer's change of heart took "too much time". He told The Telegraph that "that's probably never happened before" between our countries, and added: "It sounded...

According to trade sources, and LSEG data, the prices of liquefied petrol gas and?naphtha jumped on Thursday in Asia after Saudi Aramco halted the exports from a major terminal. This disrupted supplies to the area, and India is likely to be the worst hit. On Wednesday, Saudi?Aramco announced that it had halted LPG deliveries this week at its eastern terminal in Juaymah. This terminal is one of the largest exporters of butane and propane. It suffered structural damage to its delivery system on February 23, which was a result of a component being damaged. Fuel from the terminal near Aramco’s...

According to industry sources, data from January shows that India's oil imports were the lowest since late 2022. Middle Eastern crude supplies rose to their highest level in the same time period. India, which is the third largest oil consumer and importer in the world, has increased its purchases of Russian oil discounted by Western nations following Moscow's invasion of Ukraine in 2022. Volumes have topped 2 million barrels a day in certain months. But Western sanctions on the war, and the pressure to sign a trade agreement with the United States have forced New Delhi to reduce its Russian...

Naturals, an Indian salon chain, is still 'in talks' with Reliance about a possible?stake-sale, but the discussions have slowed down as both sides are yet to converge on a deal structure. In an interview, Kumaravel stated. Naturals will go public in 2028, if the negotiations with Reliance do not bear fruit. Kumaravel said this on the sidelines of an event organized by Retailers Association of India (RAI) in Mumbai. He said that the talks, which were first announced in 2022, "stalled" after Reliance demanded a 51% share, while Naturals only wanted to sell 49%. This was to maintain control for...

Zivame, a lingerie retailer backed by Reliance Industries, plans to open between 60 and 80 franchised stores in the next year. The company is looking to grow its business in 'India's smaller cities. Zivame, founded in 2011, was originally an online-only company. Since then it has expanded to physical stores. It now operates 174 exclusive brand outlets. Reliance Retail acquired a stake of the company in 2021, as part?of its wider push into apparel & innerwear. Zivame's next phase of expansion will be focused on India's Tier-2 and Tier-3 cities, where the demand is "increasingly similar to that of metro...

India and the U.S. are expected to sign a "formal" trade agreement in March. After that, New Delhi will lower tariffs on U.S. products, said Trade Minister Piyush Goyal on Thursday. This was the first official timeline of the adoption of the deal. Washington will then reduce the duty on Indian exports from 50% to 18% within a few days. Goyal stated that India will purchase about $500 billion worth of U.S. products over the next five years. This includes $70-80 billion of Boeing aircraft. In the deal announced Monday, U.S. President Donald Trump reduced U.S. Tariffs on Indian Goods...

A spokesperson for the Indian Foreign Ministry said that India would be willing to buy oil from Venezuela and other countries, depending on their commercial viability. "There's a long history of engagement with Venezuela." We have had a longstanding energy partnership, and are open to exploring the availability of crude oil in Venezuela and elsewhere, based on its commercial viability. Last week, U.S. president Donald?Trump agreed to lower tariffs on Indian products to 18% from 50% as part a broader trade deal Narendra Modi, he claimed, 'assured him that South Asia will stop buying Russian oil. Trump said that India...

Investors say that the U.S. India trade deal will likely be enough to stop foreign stock selling. However, they insist that earnings growth and fundamentals must improve before sustained?buying can occur. The long-awaited agreement sparked an increase in the stock markets and rupee's strongest rally in seven year on?Tuesday as it?signalled improved diplomatic and trade relationships with the U.S. This was only one of many factors that hung over the currency and stock market, which has underperformed by a large margin regional and global counterparts since the start of last year, and seen the foreign allocations shrink to a 2-decade-low....

Reliance, heavyweight financials and export-oriented stocks led a broad rally on Tuesday after the India-U.S. trade deal. Trade deal removes key overhang which had been roiling?markets since months. Both benchmarks jumped about 5% at the start of trading. ?At a close, the Nifty50 settled 2.55% higher, at 25,727.55 point, while the BSE Sensex rose 2.54%, to 83739.13 points. This was their biggest single-session gain since May 2025. Donald Trump, the U.S. president announced on Monday a deal with India in which U.S. duties on Indian goods will be reduced to 18% instead of 50%. In exchange, New Delhi must stop...

Three'sources' familiar with the matter said that Aditya Birla Global Trading, an Indian commodities trading company, is resuming its iron ore operations as other traders leave the market because of record low volatility. The Singapore-headquartered company, part of India's conglomerate Aditya Birla Group, which also owns aluminium producer Hindalco, trades ?agriculture, energy and metals but not iron ore, according to ?its website. According to two sources, the company has suspended its iron-ore business and will return to the Chinese market in order to diversify their portfolio and reduce the risk. All sources were speaking under condition of anonymity, as they...

Michael Flacks, the CEO of Flacks Group, said that if current attempts to sell Thyssenkrupp's steel division fail, they would be "ready" to bid for it. Thyssenkrupp and Jindal Steel International have been in discussions since the autumn about a possible sale for Thyssenkrupp Steel Europe. However, these discussions are yet to produce a formal bid. Flacks Group was selected by Italy in 'December' to conduct exclusive negotiations on the sale Acciaierie d'Italia, a bailed out steel company. Flacks stated that "our main interest in Italy is now, but we're interested in major companies and, if talks about an acquisition...

Due to widespread flight cancellations and airspace closures, the Middle East conflict has affected India's exports of gems and jewellery, as well imports of rough diamonds from United Arab Emirates. Dubai, which is a major "global hub" for polished and rough diamonds, and bullion has suspended many cargo and passenger flights. This has affected trade flows, and the shipments of essential raw materials and exports, according to industry officials. Vipul Shah is the managing director of Asian Star, one of the leading diamond exporters. Nearly a quarter of India’s annual gems, jewellery and watches exports totaling around $30 billion come...

In an alarming week dominated by a?Middle East conflict, the gold market made a bizarre move. Investors did not rush to buy gold but instead rushed for dollars, selling anything that had a speculative edge before the attacks last weekend. After the attacks on Iran Saturday, the initial demand for precious metals waned rapidly. On Tuesday there was a dramatic reversal with silver and gold both dropping by as much as 10 percent. One of the main reasons for the gold price's decline was the return of the dollar’s "safety" bid, which had seen the greenback rise this week despite...

Two people who are familiar with the discussions say that Japan and India are in talks to explore rare earth deposits together in Rajasthan's arid state. Tokyo is looking to reduce its reliance on China as a source of magnet manufacturing supplies. India's Mines minister G. Kishan Reddy announced last month that three hard rock deposits of rare earth oxides containing 1,29 million metric tonnes had been identified in Rajasthan state and Gujarat in western India. Sources directly involved in decision-making said that Tokyo expressed interest in the Rajasthan deposits, and planned to send experts there. The sources declined to...

India and Canada aim to conclude a free-trade pact before the end of the year, said Prime Minister Mark Carney on Monday, during his 'first visit to New Delhi. The two countries are trying to overcome years of diplomatic friction in order to restore economic ties. Narendra Modi, Indian PM, said during a joint appearance with Carney that he and Ottawa hoped to increase their bilateral trade from $9 billion to $50 billion between 2030. The Indian Foreign Ministry added that the two sides had?agreed on the terms of reference for a comprehensive economic relationship. Both sides confirmed that they...

The Indian economy grew by 7.8% from October to December compared with the same period one year ago, following an 8.4% increase in the previous quarter. On Friday, it released a revised series national output data. National Statistics Office stated that the government expects South Asia's economy to grow by 7.6% for the entire fiscal year ending March. The National Statistics Office had previously forecast a 7.4% growth under the old data series. COMMENTARY: MADHAVI ARORA CHIEF ECONOMIST, EMKAY GLOBAL FINANCIAL MUMBAI : "The revised series of GDP, which features improved sectoral representation and reduced 'deflator related?distortions', as well as...

As prices rebounded, India's gold?discounts widened the most in 10 months. Meanwhile, China's demand increased as its safe-haven appeal was reflected in the rising premiums of the bullion after the markets returned from Lunar New Year. Indian bullion dealers offer a discount This week, you can save up to $65 on official domestic gold prices - including 6% import duties and 3% sales taxes. Last week, the discount was up to $18. Retail buyers are not ready to purchase at these prices. "For many of them, current prices are just too high to afford," said Ashok JAIN,?proprietor at Mumbai-based wholesaler...

The gold discounts in India reached their largest?in ten months, as a rise in prices?curbed the demand. Meanwhile in China the demand increased as the safe-haven appeal of bullion was reflected in the rising premiums following the return from the Lunar?New?Year holiday. Indian bullion dealers offer a discount This week, you can save up to $65 on official gold prices - including 6% import duties and 3% sales taxes. Last week's savings of up $18 per ounce were included. Retail buyers are simply not ready to purchase at these prices. "For many of them, current prices are just too high...

Vedanta, an Indian company, is planning to raise 30 billion rupees (about $329.89 million) by selling shorter-duration debt before the end of March, its second bond issue in the current fiscal. Sources who requested anonymity because they were not authorized to speak with the media said that the metals-to oil conglomerate would likely sell bonds for two years or three years, or a combination of the two. One source said that the company had already begun talks with some investors, such as mutual funds. After'receiving board approval today', things would'speed up, and they would ideally aim to complete this round...

A'source' with knowledge of the situation said that India's Tata Sons postponed its decision to reappoint N Chandrasekaran chairman, after the head of their powerful charity arm opposed the move in a closed-door meeting held on Tuesday. The delay highlights new tensions in the Tata Group's leadership transition. It has also revived fears of a repetition of the 2016 public conflict between Tata Trusts, and Tata Sons which tarnished the reputation of India’s most storied conglomerate. Tata Trusts is the owner of approximately 66% of Tata Sons. This holding company houses 30 companies, including Tata Consultancy Services (TCS), Tata Motors...

India has deepened its trade ties with Brazil, signing a pact on Saturday to increase cooperation in mining and minerals. The country is seeking to meet the rising demand for steel at home and to support capacity expansion as a result of a global race to secure raw materials. The agreement was signed by India's PM Narendra Modi, and Brazilian President Luiz inacio Lula Da Silva. Both men arrived in New Delhi this week on a three-day trip. Brazil has large reserves of minerals that are critical for steelmaking. It is one of the top producers of iron ore in...