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The agreement, reached during Modi’s official visit to Abu Dhabi on 15 May 2026, includes a strategic collaboration between Indian Strategic Petroleum Reserves Limited and Abu Dhabi National Oil Company to expand the UAE’s participation in India’s strategic petroleum reserves to 30 million barrels. Both sides will also work on establishing strategic gas reserves, a move that signals a broader shift from emergency crude storage towards a more diversified energy security framework.

The pact places ADNOC at the centre of New Delhi’s stockpiling strategy. The UAE became the first country to partner with India in strategic petroleum storage when ADNOC stored crude in the Mangaluru cavern under an earlier arrangement. The new framework is substantially larger and comes as India seeks to reduce exposure to sudden disruptions in the Strait of Hormuz, sanctions-driven shifts in trade flows, shipping risks, and sharp swings in spot fuel prices.

India, the world’s third-largest oil consumer, imports more than 85 per cent of its crude requirement and nearly half of its natural gas needs. Its existing strategic petroleum reserve system has underground rock caverns at Visakhapatnam, Mangaluru and Padur, with a combined capacity of about 5.33 million tonnes, equivalent to roughly 39 million barrels. These reserves are separate from commercial inventories held by refiners and oil marketing companies.

The current reserve base covers only a limited number of consumption days, making expansion a long-standing policy priority. Phase-two plans have included additional capacity at Padur and a new facility at Chandikhol in Odisha, while officials have explored public-private partnership models to bring in foreign oil producers and trading firms. The UAE arrangement is likely to support that model by tying storage capacity to assured supply and commercial flexibility.

The energy package also includes a long-term LPG supply arrangement between Indian Oil Limited and ADNOC. The UAE is already the largest source of LPG for India, meeting about 40 per cent of its import requirement. A deeper supply contract is significant for household energy security, as LPG remains a politically sensitive fuel linked to cooking gas access, subsidy management and inflation expectations.

Gas cooperation is another important element. New Delhi has been trying to raise the share of natural gas in its energy mix, but price volatility and limited storage have slowed progress. Strategic gas reserves could help shield fertiliser plants, city gas distributors, power producers and industrial users from abrupt supply constraints. The concept remains more complex than crude storage because gas requires specialised infrastructure, including LNG terminals, underground storage or converted reservoirs, but the agreement shows that both governments see gas security as part of the next phase of their partnership.

The Abu Dhabi talks also build on a wider hydrocarbons relationship. The UAE was among India’s top crude suppliers last year and has become a central partner in LNG, LPG, upstream investment and petroleum product trade. State-backed companies from India hold stakes in Abu Dhabi oil assets, including the Lower Zakum concession and Onshore Block 1, marking a rare upstream footprint for New Delhi in the Gulf.

The timing gives the agreement strategic weight. West Asian tensions have renewed concern over maritime chokepoints and insurance costs for energy cargoes. Any prolonged disruption near the Gulf would affect Asia’s largest consuming economies first, particularly import-dependent buyers such as India, Japan, South Korea and China. Larger stockpiles do not remove that vulnerability, but they give policymakers more room to manage price spikes, refinery supply schedules and emergency releases.

For the UAE, the pact strengthens its role as a long-term energy partner beyond crude sales. ADNOC has been widening its international storage, trading, LNG and downstream footprint as Abu Dhabi positions itself as both a reliable supplier and a capital partner. Participation in overseas strategic reserves gives the company access to storage optionality while reinforcing diplomatic ties with major demand centres.

The Modi-Sheikh Mohamed meeting also covered defence, investment, infrastructure and regional security, underscoring the shift in bilateral ties from labour, remittances and trade towards a broader strategic partnership. The UAE hosts a large expatriate community from India and remains one of New Delhi’s most important Gulf economic partners, with strong links in logistics, ports, food security, renewable energy and financial services.

Under the MOUs, international partners are expected to establish EV service workshops that meet VinFast’s global standards in their respective markets. VinFast will ensure uniform, high-quality service through globally-standardized technician training and certification programs, consistent operating procedures and quality control systems, as well as a parts supply network targeting delivery of common spare parts within 24 hours in key markets.

The new agreements are part of VinFast’s long-term strategy to develop a comprehensive EV ecosystem aligned with its international standards, covering aftersales services, charging infrastructure, and customer support. This expansion is expected to further accelerate the transition to electric mobility while ensuring VinFast customers receive support throughout the entire product lifecycle.

VinFast’s international strategy is built on the operational foundation and aftersales capabilities it has already proven in Vietnam. By the end of 2025, VinFast had developed nearly 400 service workshops nationwide, bringing its total global network to nearly 800 facilities.

Building on this foundation, VinFast aims to expand to more than 1,100 service workshops globally in 2026, spanning North America, Europe, the Middle East, and Asia. The network will be deployed through multiple models, including dealerships serving retail customers, fleet and transportation business clients, and third-party local service workshop partners.

At the same time, VinFast is implementing a range of customer support policies, including repair time commitments in Vietnam, replacement vehicle support in international markets, as well as battery inspection, software updates, and technical support throughout the ownership experience.

As part of the conference, international partners also visited VinFast’s manufacturing complex and the broader Vingroup ecosystem to gain deeper insights into VinFast’s production capabilities, operational scale, and global growth strategy.

Mr. Bui Viet Hung, Deputy CEO of Global Aftersales of VinFast, said: “Our goal is not simply to expand the network, but to build a customer-centric aftersales ecosystem that delivers an outstanding experience on a global scale. Through partnerships with experienced local operators and the application of VinFast’s global standards, we aim to provide aftersales services that are exceptional, responsive, and reliable. We also aspire to bring Vietnam’s five-star service culture and spirit of dedication to the world, creating a unique experience for international customers. That is VinFast’s long-term commitment to the transition to electric mobility.”

In addition to expanding its aftersales operations, VinFast continues to develop an integrated EV ecosystem that includes products, services, and charging infrastructure through partnerships with strategic partners such as V-Green and local charging infrastructure operators. Through this partner network, VinFast aims to develop a system of more than 1.5 million charging ports globally, helping expand access to charging infrastructure and deliver a seamless, convenient EV ownership experience for customers in international markets.

Hashtag: #VinFast

The issuer is solely responsible for the content of this announcement.

About VinFast

VinFast (NASDAQ: VFS), a subsidiary of Vingroup JSC, one of Vietnam’s largest conglomerates, is a pure-play electric vehicle manufacturer with the mission of making electric mobility more accessible to everyone. VinFast’s current product portfolio includes a wide range of electric SUVs, electric motorcycles, electric bicycles, and electric buses.

VinFast is entering its next phase of growth by rapidly expanding its global distribution and dealer network while strengthening manufacturing capabilities, with a focus on key markets in North America, Europe, the Middle East, and Asia.

Learn more at: https://vinfastauto.com

The Singapore flag carrier reported net profit of S$1.18 billion for the year ended March 31, down 57.4 per cent from the previous year. Operating profit, by contrast, rose 39 per cent to S$2.38 billion, helped by robust passenger demand, higher yields and stronger traffic across Singapore Airlines and Scoot. Group revenue reached a record S$20.52 billion, up 5 per cent, while the two carriers carried 42.4 million passengers, a 7.7 per cent increase from the year before.

The headline profit decline was driven largely by two accounting and investment factors. Singapore Airlines no longer benefited from the S$1.1 billion non-cash gain recognised after the completion of the Air India-Vistara merger in November 2024. At the same time, its share of associated-company results swung into a large loss as it accounted for a full year of Air India’s losses rather than only four months in the previous reporting period.

Air India recorded a US$2.8 billion loss for FY2025/26, its largest since Tata Group took control of the carrier in 2022. Singapore Airlines owns 25.1 per cent of the Air India Group after Vistara, its former joint venture with Tata Sons, was merged into Air India. The investment remains central to SIA’s wider multi-hub strategy, giving the carrier exposure to one of the world’s fastest-growing aviation markets.

The losses underline the scale of Air India’s turnaround challenge. The airline is renewing its fleet, refurbishing aircraft interiors, upgrading service standards and trying to rebuild operational reliability after years of under-investment. Those efforts are being tested by supply-chain constraints, limited aircraft availability, airspace restrictions, constraints on services to key Middle East markets and elevated fuel prices.

The Iran war has added another layer of pressure for long-haul operators. The closure of the Strait of Hormuz after the outbreak of the US-Israel war on Iran in late February pushed jet-fuel prices higher and widened the gap between aviation fuel and crude oil costs. Singapore Airlines said the impact was only partly reflected in March because fuel bills are priced with a lag, with the full effect expected to feed through in FY2026/27.

Higher fuel prices are particularly damaging for airlines because fuel is the sector’s largest variable cost and is difficult to offset quickly. SIA and Scoot have raised fares across their networks, but those increases do not fully cover the higher price of jet fuel. The group’s fuel hedging provided some protection during the year, while average full-year fuel prices were lower than the previous year, but the cost outlook has become more demanding.

Airspace restrictions have also reshaped competitive dynamics on routes linking South Asia, Europe and North America. Air India has been exposed because its network relies heavily on long-haul flights that are sensitive to rerouting, longer flying times and crew-scheduling limits. Foreign carriers including Lufthansa Group, Cathay Pacific, KLM and Swiss have gained room to expand India-linked international services as Air India manages disruption and cost pressure.

For Singapore Airlines, the underlying operating figures still show resilience. Passenger load factor rose to 87.7 per cent, with traffic growth of 4.7 per cent outpacing capacity expansion of 3.4 per cent. Passenger yields rose 1 per cent, while cargo revenue declined 2.1 per cent to S$2.17 billion as weaker yields offset higher loads.

The proposal, pushed by the Reserve Bank of India and under examination by the finance ministry, would lower the tax burden on overseas investors earning returns from government and corporate debt. The measure is being considered as policymakers seek to align India’s bond taxation framework more closely with other emerging markets and strengthen the appeal of rupee assets at a time of volatile global capital flows.

Foreign investors currently face tax on coupon income of around 20 per cent, alongside capital gains obligations that vary depending on treaty arrangements and holding periods. A concessional 5 per cent tax rate on interest income had earlier helped attract participation, but that dispensation ended in 2023. Market participants have since argued that the higher tax cost has limited the impact of India’s inclusion in major global bond indices.

The government securities market is valued at about $1.3 trillion, but foreign ownership remains near 3 per cent, far below levels seen in several comparable emerging markets. The gap has persisted despite the phased inclusion of government bonds in widely tracked indices run by JPMorgan and FTSE Russell, and despite the country’s relatively high real yields compared with several Asian peers.

Bond investors have welcomed the direction of policy discussions, though the scale and timing of any tax change remain uncertain. A reduction could improve net returns for overseas funds, especially passive investors whose allocations are guided by benchmark weights. It could also encourage more active managers to increase positions in rupee debt, provided currency risks and settlement procedures remain manageable.

The rupee has been under pressure as foreign investors trimmed exposure to local equities and as global dollar strength affected emerging-market currencies. A deeper foreign bid for bonds could help stabilise capital flows, support reserves management and reduce the cost of government borrowing over time. The benchmark 10-year yield has already reacted to expectations of a friendlier tax regime, moving lower as traders priced in the possibility of stronger inflows.

The debate forms part of a broader effort to make the domestic debt market more accessible. The Reserve Bank has retained foreign portfolio investment limits for the 2026-27 financial year, keeping the cap at 6 per cent for central government securities, 2 per cent for state development loans and 15 per cent for corporate bonds. Available headroom under these limits remains underused, suggesting that tax treatment, liquidity conditions and operational procedures matter as much as formal access.

Policy planners are also focused on the corporate bond market, where deeper foreign participation could help fund infrastructure, green energy, housing finance and private-sector expansion. The country’s corporate debt market remains smaller than its banking system and equity market, leaving companies heavily dependent on bank lending. A more attractive tax framework could draw long-term investors such as pension funds, insurers and sovereign wealth funds, although credit depth and transparency would still need improvement.

Foreign investors have long cited India’s source-based taxation, documentation rules and compliance requirements as barriers to larger allocations. Tax treaties reduce the burden for investors from some jurisdictions, but the framework remains uneven. A clearer and lower withholding structure could reduce uncertainty and help India compete more effectively with Indonesia, Malaysia, Mexico and South Africa, where foreign bond investors often face lighter tax treatment.

The policy choice is not without trade-offs. Lower taxes would reduce immediate revenue from foreign bond income, and a larger foreign presence could make the debt market more sensitive to shifts in global interest rates and risk appetite. Sudden outflows during periods of stress could amplify pressure on the rupee and complicate monetary policy. Authorities are therefore likely to balance market deepening with safeguards designed to prevent destabilising flows.

The fiscal backdrop will also shape the decision. The Centre continues to manage a large borrowing programme while trying to lower the fiscal deficit gradually. A broader foreign investor base could help absorb government debt and keep yields contained, but officials are unlikely to move without assessing revenue costs, treaty implications and the impact on domestic financial institutions.

SINGAPORE – Media OutReach Newswire – 14 May 2026 – Veritickets, a global event ticketing platform, has become the first brand to sell overseas concert and sports tickets on Tmall Global, China’s largest cross-border e-commerce platform, following its recent debut on the site.

The move established a new category for international live entertainment ticketing within China’s import e-commerce market, with Tmall Global positioning Veritickets as a specialist overseas brand addressing an underserved market.

Ahead of Tmall Global’s annual 618 shopping festival, Veritickets will offer tickets to all 104 FIFA World Cup matches, alongside global tour tickets for leading Chinese-language artists including Jay Chou, Stefanie Sun, and Mayday. The platform will also feature K-pop tours across Asia, enabling fans to secure seats for performances by groups such as EXO, BTS, and i-dle.

The move comes as outbound demand for live entertainment continues to rise among Chinese consumers, driven by a packed calendar of international sporting events, including the FIFA World Cup, UEFA Champions League and Premier League, as well as a broader recovery in concerts across the Asia-Pacific region.

Veritickets aims to address longstanding difficulties in cross-border ticket purchasing. Consumers buying overseas event tickets have typically faced challenges ranging from language barriers and complex payment processes to uncertainty over ticket authenticity and availability. The platform was designed to resolve these issues for international buyers.

The platform commits to issuing confirmed, in-stock tickets in as fast as 12 hours and provides multilingual interfaces and multi-currency payment options. It also offers a “100% verified tickets” guarantee backed by a consumer-protection policy that provides a full refund, plus additional compensation of up to the ticket price, if tickets are not delivered.

Tickets are available through the Veritickets website or mobile app. The platform accepts major international credit cards, including Visa, Mastercard and JCB, and is also an officially certified partner of Alipay, China’s leading digital payments and services platform.

To enhance transparency and reduce search friction, Veritickets aggregates official and vetted ticket inventory into a single interface, allowing users to compare offerings with real-time availability and pricing. An all-in pricing model is used to limit hidden charges and last-minute price adjustments.

Event recommendations are tailored using a preference-based engine, while dedicated customer support and real-time transaction verification form part of the platform’s service and supervision standards.

Initially focused on Hong Kong, Macau and Southeast Asia, Veritickets plans to strengthen its footprint across the Asia-Pacific region, with phased expansion into additional international markets.

The platform is currently recruiting internationally qualified ticketing agents, requiring valid operating licenses, strong credit records and proven professional service capabilities. All agents must comply with stringent requirements, including real‑time ticket updates, instant transaction validation and round-the-clock customer support, ensuring a consistent and reliable experience for buyers worldwide.

Hashtag: #Veritickets

The issuer is solely responsible for the content of this announcement.

Cape Town to host continent’s largest energy gathering as focus shifts from aspiration to execution

The issuer is solely responsible for the content of this announcement.

Apartment prices in the capital rose 0.28 per cent in the week through May 11, up from 0.15 per cent a week earlier, marking the steepest gain since late January. The increase extended Seoul’s run of weekly advances to 67 weeks, while nationwide apartment prices rose 0.06 per cent, underscoring a widening gap between the capital and the rest of the country. All 25 districts in Seoul posted gains, with Gangnam returning to positive territory after a 12-week decline and jeonse prices also climbing 0.28 per cent.

The renewed strength has added pressure on policymakers before the Bank of Korea’s May 28 rate-setting meeting, the first under Governor Shin Hyun-song. The central bank held its base rate at 2.50 per cent in April, citing rising inflation pressures, weaker growth risks and financial-market volatility linked to the Middle East conflict. Shin has signalled that policy will remain cautious and flexible, with price stability and financial stability both central to the bank’s calculations.

Housing is becoming a harder constraint for monetary policy because Seoul’s property market has moved in the opposite direction from the broader economy. Growth has been facing pressure from external demand uncertainty, higher energy costs and weaker household spending, yet the capital’s housing market continues to draw buyers who expect limited supply and further rental increases. That combination reduces the room for rate cuts, as easier financial conditions could feed more leverage into an already expensive market.

Consumer inflation reached 2.6 per cent in April, the highest reading since July 2024, after rising from 2.2 per cent in March. Transport costs, housing and utilities were among the categories adding pressure, while oil-linked effects from the Middle East conflict have complicated the central bank’s effort to bring inflation back towards its 2 per cent target. A departing board member, previously seen as dovish, warned this week that inflation control should remain the bank’s priority even at the cost of weaker growth.

The property upturn is also being reinforced by South Korea’s jeonse system, under which tenants provide large lump-sum deposits instead of monthly rent. Tight supply of rental homes and rising jeonse costs have encouraged some households to shift towards buying, particularly in Seoul districts where demand remains resilient despite lending controls. Housing rental prices have been moving higher since early 2024, and rent carries significant weight within services inflation, making it a sensitive issue for both the central bank and fiscal authorities.

Government measures have so far produced uneven results. Authorities tightened trading rules in wealthy Seoul districts last year, including Gangnam, Seocho, Songpa and Yongsan, after speculation returned quickly when permit requirements were eased. They also moved to fast-track housing supply in the capital region, where limited available land and slow redevelopment approvals have kept pressure on prices. Apartment prices in Seoul climbed nearly 9 per cent in 2025 despite those interventions, leaving policymakers wary that demand-side restrictions alone may not be enough.

The latest move comes after a brief moderation linked partly to tax policy expectations. Earlier this year, the central bank said price increases in Seoul and surrounding areas had slowed under the government’s plan to end the temporary suspension of higher capital gains taxes on multiple-home owners. The rebound in May suggests buyers may be adapting to policy changes rather than retreating, particularly in areas where expectations of long-term scarcity remain strong.

Financial stability concerns remain central because household debt is closely tied to housing prices. South Korea’s mortgage market has long made the property cycle a major channel for monetary policy, and a renewed rise in Seoul apartments could encourage more borrowing at a time when real incomes remain under pressure. A stronger won and improved equity sentiment linked to semiconductor demand may ease some external strains, but they also add complexity by supporting domestic confidence.

Fiscal policy is moving in a more expansionary direction, supported by strong tax revenue from the artificial intelligence and semiconductor cycle. Fitch has said South Korea has room for active spending because chip-sector strength has improved the revenue outlook, while monetary policy may need to stay restrictive because of inflation risks. That divergence places greater responsibility on the central bank to prevent housing and price pressures from becoming embedded.

By Nitya Chakraborty The developments in eastern and north eastern parts of India are getting increasing attention from Washington in the context of China’s planned moves to expand its control in Bangladesh and Myanmar, the two countries bordering the Indian states.US President Donald Trump’s unusual message sent to the Indian Prime Minister Narendra Modi on […]

The article North East India Is Emerging As The Battle Ground For Power Between U.S. And China appeared first on Latest India news, analysis and reports on Newspack by India Press Agency).