Global peace has deteriorated for a 12th consecutive year as armed conflicts, military build-ups and geopolitical fragmentation deepen instability across much of the world, the 2026 Global Peace Index has found. The latest index, covering 163 countries and territories, recorded a 0.7 per cent decline in the average level of peacefulness over the past year, the 15th deterioration in 18 years. Ninety-nine countries became less peaceful, while […]
Refined fuel exports from the Persian Gulf have climbed this month as more tankers crossed the Strait of Hormuz, easing pressure on diesel, jet fuel, gasoline and naphtha markets starved of supply since the waterway was disrupted by the Iran war. The rebound marks a break from the squeeze that followed the closure of the world’s most important energy chokepoint after the February 28 attack on Iran […]
El Niño has formed across the tropical Pacific, setting the stage for a potentially powerful climate event that could intensify heat, drought, floods and storms across several regions through the end of the year and into early 2027. Forecasters have issued an El Niño advisory after ocean and atmospheric indicators aligned over the past month, confirming that the coupled climate system has shifted into the warm phase […]
By Dr. Nilanjan Banik The Indian economy, to quote from Charles Dickens’ novel, looks like A Tale of Two Cities. Recent estimates suggest India’s real GDP expanded by 7.8%, with strong growth noted across sectors: services (9.3%), manufacturing (10.7%), and construction (7.4%). Consumption expenditure, which is the largest component of GDP explaining 58% of GDP, […]
The article Big Indian Corporates Are Not Investing Despite Series Of Govt Incentives appeared first on Latest India news, analysis and reports on Newspack by India Press Agency).
Greenlogue/AP Climate stress is tightening its grip on vulnerable communities across the Middle East and North Africa, where water scarcity, conflict, weak public services and economic pressure are combining to narrow the choices available to millions of people. The region’s exposure is no longer defined by heat and drought alone. Families in fragile rural districts, informal urban settlements, refugee camps and conflict-affected towns are being pushed into […]
The Persian Gulf Strait Authority has said the Strait of Hormuz will be “completely closed” to transit traffic, escalating fears of a wider maritime disruption at the world’s most sensitive energy chokepoint as tensions involving US military operations intensify. The notice, issued through a post on X, cited “aggressive US forces” and an announcement by the IR Armed Forces as grounds for the planned closure. It told […]
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The Reserve Bank of India’s June package centres on Foreign Currency Non-Resident Bank deposits, or FCNR deposits, a long-used channel through which overseas citizens place foreign-currency funds with banks. The decisive shift lies in the way the central bank has structured the swap window and permitted banks to use incentives, including leverage, to make the deposits more attractive to wealthy overseas savers.
Under the scheme, banks can mobilise fresh three- to five-year FCNR deposits between 8 June and 30 September 2026 and swap the dollars with the RBI. The facility effectively removes the usual hedging burden that makes such deposits expensive for banks, as the central bank absorbs the foreign-exchange cost. The operational window will remain available until mid-October for eligible deposits raised during the mobilisation period.
The change has revived memories of 2013, when a similar facility helped banks raise about $34 billion during a period of sharp rupee weakness. This time, estimates from market participants range from about $20 billion to nearly $50 billion, depending on deposit pricing, rupee expectations, global interest rates and the ability of banks to market the product aggressively in the Gulf, North America, Britain and other diaspora-heavy markets.
Punjab National Bank chief executive Ashok Chandra has said banks could collectively raise $35 billion to $40 billion, with his own institution aiming for about $2.5 billion to $3 billion. Other lenders, including Canara Bank, Federal Bank and Indian Bank, are expected to compete for deposits by offering returns that can compare favourably with low-risk dollar assets, particularly once the swap benefit is factored into their pricing.
The subtle but consequential part of the circular is the permission for banks to offer leverage to depositors. That means eligible clients may be able to borrow abroad and place the proceeds into FCNR deposits, amplifying inflows beyond what would have arrived through ordinary savings alone. Market analysts see this as the feature that could lift the scheme from a modest stabilisation tool into a sizeable capital-flow channel.
The RBI has paired the deposit push with broader measures designed to deepen debt-market participation and ease pressure on the currency. These include expanding access to government securities, relaxing certain concentration limits, and improving the investment framework for foreign portfolio investors. The package comes after the rupee touched record lows, weighed down by elevated crude prices, portfolio outflows and a stronger dollar environment.
The immediate market reaction has been visible in government bonds. Short-end yields have fallen as banks and overseas investors reassessed the likely liquidity impact of dollar inflows converted into rupees. The two- to five-year segment has drawn stronger demand, while the curve has steepened as longer tenors remain more exposed to global rate movements and fiscal supply concerns.
For banks, the economics are straightforward. Without central bank support, hedging a multi-year dollar liability into rupees can wipe out much of the advantage of raising FCNR deposits. With the RBI taking that cost away, lenders can offer higher headline rates to overseas depositors while still obtaining rupee liquidity at competitive levels. The exemption from reserve requirements on eligible deposits further improves the economics by freeing banks from maintaining cash reserve ratio and statutory liquidity ratio buffers on those funds.
The policy also serves a macroeconomic purpose. Large dollar inflows can strengthen reserves, cushion the balance of payments and reduce the need for more aggressive currency-market intervention. They can also help offset pressure from oil import costs and equity-market withdrawals, both of which have weighed on external sentiment during the current financial year.
Yet the scheme carries risks. Leveraged deposits can be sensitive to interest-rate differentials and currency expectations. If global yields move sharply higher or confidence in the rupee weakens, flows may become less durable. The one-year lock-in reduces early withdrawal risk, but it does not fully eliminate rollover pressure once deposits mature. Banks also need to manage concentration risk, especially if a large share of funds comes from a narrow group of depositors or geographies.
Apple has sharply narrowed software support for its smartwatch line, leaving the Apple Watch Series 8, first-generation Ultra, second-generation SE and several older models outside the watchOS 27 upgrade cycle as it shifts the platform towards artificial intelligence features and newer chipsets. The change means millions of users who bought relatively modern Apple Watches will remain on watchOS 26 unless they move to newer hardware. The supported […]
The currency strengthened sharply in Colombo trading, touching 328 to the dollar from weaker levels around 336.50 before settling in a wider 332-334 range. The previous close was near 337.00-337.75, underscoring the immediate impact of the central bank’s intervention on market sentiment. The move marks one of the rupee’s strongest single-session gains this year after months of pressure linked to higher fuel bills, vehicle imports and heavy demand for dollars from importers.
The new rule, issued through an extraordinary gazette under the authority of Governor Nandalal Weerasinghe, requires exporters of goods receiving proceeds during a calendar month to convert the residual foreign exchange into Sri Lankan rupees on or before the tenth day of the following month. The change effectively reduces the conversion window to about 30 days from the earlier period of about 90 days, after permitted payments are made.
The directive came into immediate effect and applies to exporters after they use proceeds for authorised payments such as imports, debt servicing and other approved foreign currency obligations. It reverses part of the relaxation introduced in 2024, when the central bank gave exporters more time to convert proceeds as foreign exchange conditions improved after the country’s debt crisis.
The latest measure is designed to bring export dollars more quickly into the domestic market at a time when the rupee has come under renewed strain. The currency had fallen by about 8 per cent this year before the intervention, reflecting a combination of stronger import demand, elevated global energy prices and cautious dollar conversions by exporters waiting for more favourable rates.
Market participants said the shortened conversion period could provide near-term support by increasing the supply of dollars through the banking system. The effect, however, may be temporary if importers absorb the additional liquidity quickly, particularly with fuel, medicines, vehicles and intermediate goods continuing to drive demand for foreign exchange.
The rupee’s rebound follows a series of policy moves by the Central Bank of Sri Lanka to contain pressure on the currency and inflation. On May 26, the central bank raised the overnight policy rate by 100 basis points to 8.75 per cent, its largest increase since 2023, signalling a shift away from growth support towards price and currency stability. The rate move followed a faster-than-expected rise in inflation and a renewed deterioration in external conditions.
Headline inflation in Colombo stood at 5.5 per cent in May, marginally above the central bank’s target and slightly higher than April’s 5.4 per cent. Price pressures have been fuelled by energy adjustments and the spillover from tensions in the Middle East, which have pushed up import costs for fuel-dependent economies. Construction firms have also reported higher input costs and shortages of petrochemical-based materials.
The central bank has already spent foreign exchange to defend the currency. Around $211 million was used in May as the rupee tested its weakest level in four years on May 21. Foreign reserves fell 3.8 per cent in April to about $6.7 billion, reflecting the cost of higher imports and intervention, although reserves remain well above the crisis levels seen during the 2022 balance-of-payments collapse.
Sri Lanka’s external position has become more fragile after a stronger start to the year. The current account moved into deficit in April after surpluses during the first quarter, mainly because of a wider trade gap, a softer services surplus and higher primary income outflows. Workers’ remittances continued to improve, offering some relief, but the recovery in imports has changed the balance in the foreign exchange market.
The policy shift also comes as Sri Lanka remains under a $2.9 billion International Monetary Fund programme designed to restore macroeconomic stability after the country’s sovereign default. A further $695 million disbursement was approved in late May, helping support reserves and fiscal reforms, but the economy remains exposed to external shocks, especially oil price volatility and shifts in investor confidence.
Arabian Post Staff -Dubai Oman is moving to convert fiscal repair and regulatory reform into a stronger claim on international capital, positioning the International Financial Centre of Oman as the centrepiece of a drive to attract financial institutions, fund managers and professional services firms. The push comes as Muscat benefits from a restored investment-grade profile after several years of debt reduction, spending restraint and higher policy credibility […]
Anthropic has released Claude Fable 5, its most powerful AI model made broadly available, opening public access to a safeguarded version of the company’s Mythos-class technology after months of controlled testing among selected partners. The launch marks a significant shift for the San Francisco-based AI company, which had previously limited Mythos-class capabilities because of concerns over advanced cybersecurity and biological-risk use cases. Claude Fable 5 is being […]
Matein Khalid Only after I tried to read the 277-page SpaceX IPO filing did I grasp the truth of Winston Churchill’s observation that his sceptred isle and America were two countries separated by a common language. For my Brit friends and editors, SpaceX is a rocket launch, satellite and AI business. In the legal gobbledygook of SEC/Wall Street, American lingo, SpaceX is history’s first “orbital infrastructure conglomerate”. […]
Arabian Post Staff -Dubai Saudi Arabia’s Arabian Dyar has put its planned Tadawul initial public offering on hold, becoming the latest issuer to step back from the Kingdom’s listings pipeline as volatile trading conditions and weaker investor appetite complicate efforts to bring larger private companies to market. The real estate and construction company, formally known as Aldyar Alarabiya Real Estate Development Company, had faced a June deadline […]
Humanity Protocol suffered a sharp market collapse after a private-key compromise hit wallets linked to the Web3 identity project, draining more than $30 million and sending its H token down by nearly 90 per cent during Tuesday trading. The breach exposed a critical weakness in one of the fastest-rising digital identity ventures in the crypto market, where projects promise privacy-preserving proof of personhood but still depend on […]
United States lawmakers have set out a package of digital asset tax measures aimed at reducing compliance burdens for crypto users while giving tax authorities clearer rules for staking, mining, stablecoins, trading losses and charitable donations. The House Ways and Means Committee has placed six numbered bills and a related discussion draft before a full committee hearing on digital asset taxation scheduled for June 9 at 2pm […]
Sahara AI’s SAHARA token suffered a steep sell-off on Tuesday after large on-chain transfers from wallets linked to the project triggered concern among traders, cutting the token’s value by as much as 60 per cent before a partial recovery. SAHARA fell from about $0.038 to an intraday low near $0.0129, then recovered to around $0.016 as heavy trading continued across major venues, including Binance. Turnover exceeded $250 […]
The amended rules, issued through Notification No. 19/2026-27 dated 2 June 2026, apply with immediate effect to silver powder, silver grains, silver of 99.9% purity or more, and other unwrought silver. The change adds a fresh approval layer to a trade channel that was already limited to nominated agencies, banks and qualified jewellers using authorised routes.
The affected ITC codes include 71061000 for silver powder, 71069110 for silver grains, 71069120 for silver containing 99.9% or more by weight of silver, and 71069190 for other unwrought silver. These categories fall within the broader heading for silver, including silver plated with gold or platinum, in unwrought, semi-manufactured or powder form.
Until the amendment, eligible imports could be routed through banks notified by the Reserve Bank of India, agencies notified by the DGFT, and qualified jewellers notified by the International Financial Services Centres Authority for imports through the India International Bullion Exchange. The new framework keeps those channels in place but requires a valid DGFT Import Authorisation before shipments can proceed.
The order marks a sharper shift in bullion management after curbs were placed in May on silver bars of 99.9% purity and other semi-manufactured forms. Together, the steps move a large portion of silver inflows away from a relatively open framework towards a case-by-case approval regime. The policy direction points to closer official monitoring of volumes, end-use and trade routing at a time when precious-metal purchases have added pressure to the external account.
Silver imports have climbed sharply, with the country’s import bill for the metal touching a record $12 billion in the financial year ended March 2026, compared with $4.8 billion a year earlier. April shipments rose 157% year on year to $411 million, underlining the scale of demand before the latest controls took effect.
The bullion market is likely to feel the immediate impact through slower approvals, tighter availability and wider domestic premiums if import authorisations do not keep pace with demand. Dealers have already been adjusting to a compliance-heavy environment, including the April publication of the list of banks authorised to import gold and silver until March 2029 after delays had held up consignments at customs.
The policy also comes after duties on gold and silver were raised to 15% from 6%, a move aimed at discouraging discretionary imports of precious metals. Higher tariffs and tighter licensing conditions together indicate a broader attempt to contain import demand, protect foreign exchange reserves and reduce pressure on the rupee at a time when oil and other commodity bills remain sensitive to global price swings.
Industrial users will be watching the authorisation process closely because silver is not only a bullion and jewellery metal. It is used in electronics, solar cells, conductive pastes, precision engineering, industrial chemicals and electrical components. Silver powder and grains are important inputs for manufacturers as well as refiners and jewellers, making clarity on approval timelines essential for supply planning.
Investment demand has become a larger part of the market’s momentum. Silver bars, coins and exchange-traded products have attracted interest from investors looking for exposure to precious metals, particularly when global uncertainty and currency volatility lift demand for hard assets. That trend has complicated policy choices because the same metal feeds both household savings and industrial supply chains.
The India International Bullion Exchange remains central to the formalisation of bullion trade through GIFT City, especially for qualified jewellers using the exchange route. By requiring DGFT authorisation even for eligible jewellers importing through IIBX, the amendment signals that institutional routing alone will no longer be treated as sufficient compliance for specified silver categories.
Silver dore imports by refineries continue under the existing licence framework with actual-user conditions where applicable, leaving the refining route distinct from the broader authorisation requirement for covered products. This distinction matters for refiners that process raw material into marketable silver, though they too are operating in a tighter policy environment.
Major supply sources for the country include the UAE, Britain and China, making the rule change relevant for global bullion flows as well as domestic trade. Suppliers may face slower shipment planning, while banks and nominated agencies will need to factor DGFT approvals into import schedules.
The immediate test for the new system will be administrative efficiency. A transparent and predictable authorisation process could help the government track sensitive inflows without disrupting legitimate industrial consumption. Delays, however, could push up local premiums, affect manufacturers dependent on imported feedstock and encourage buyers to shift procurement strategies.
Michael Saylor’s attempt to frame bitcoin’s sharp fall as a rotation of capital into artificial intelligence has drawn a blunt challenge from Arca, which argues that the more immediate trigger was Strategy’s sale of 32 bitcoin to meet preferred stock dividend obligations. The dispute has turned a small transaction into a larger test of confidence in one of the market’s most influential bitcoin treasury companies. Strategy sold […]
Coinbase and Cardless have moved to widen access to crypto-linked consumer credit by adding a stablecoin-secured version of the Coinbase One Card for applicants who cannot be approved on an unsecured basis. The product allows eligible Coinbase One members in the United States to pledge USDC held in, or purchased through, their Coinbase wallet as security for a credit card issued by First Electronic Bank and offered […]
Customs figures showed a sharp rise in outbound shipments of unwrought aluminium and aluminium products, extending the strong performance seen in April, when exports reached 598,000 metric tonnes. The increase underlined China’s role as the main buffer for a global market unsettled by production cuts, shipping delays and higher insurance costs linked to the conflict around the Gulf and the Strait of Hormuz.
The aluminium surge came as China’s wider trade machine gathered pace. Total exports rose 19.4 per cent from a year earlier in May, beating forecasts and widening the trade surplus to more than $105 billion. Imports also grew 27.4 per cent, but the headline gain masked a sharp fall in crude purchases, with volumes down about 29 per cent as refiners leaned more heavily on inventories and cut some buying amid elevated freight and geopolitical risks.
Aluminium has become one of the clearest channels through which the Middle East war is reshaping industrial supply chains. Producers in Gulf states account for a meaningful share of non-Chinese primary aluminium supply, and disruption to power-intensive smelting, port activity and shipping routes has tightened availability for consumers in Europe, Asia and North America. Prices in London climbed to a four-year high this month as traders priced in the risk of prolonged supply constraints.
Chinese exporters have benefited from the opening. Producers and traders have increased shipments of semi-finished products and other aluminium categories where overseas premiums have risen faster than domestic prices. The price gap has improved margins for exporters, even as Beijing continues to manage capacity growth in a sector long associated with heavy energy use and emissions.
The market shift is particularly important for manufacturers in transport, construction, packaging, power infrastructure and renewable energy. Aluminium is widely used in electric vehicles, aircraft parts, solar frames, building systems and high-voltage transmission equipment. A sustained shortage outside China could raise input costs for industries already dealing with expensive financing, disrupted shipping schedules and volatile energy markets.
China’s advantage rests on scale. The country dominates global aluminium production and has built deep processing capacity across provinces such as Shandong, Henan, Guangxi and Yunnan. Its producers can move quickly when export margins improve, though output remains constrained by power costs, environmental controls and the national ceiling on smelting capacity.
The export rise also carries political sensitivity. Western governments have long argued that China’s industrial policies create excess capacity and depress global prices. A fresh wave of metal exports, even if driven by war-related shortages, could sharpen trade friction at a time when the United States, Europe and other economies are expanding scrutiny of Chinese goods in sectors ranging from steel and batteries to solar components and electric vehicles.
Crude oil tells a different story. China remains the world’s largest crude importer, but May’s decline showed how refiners are adjusting to uncertainty in Gulf shipping. The Middle East supplied a large share of China’s crude last year, with Saudi Arabia, Iraq, the United Arab Emirates, Oman, Kuwait and Qatar among key reported suppliers, while Iranian barrels have continued to reach Chinese buyers through opaque trading channels.
Refiners have drawn on commercial and strategic inventories built during earlier periods of lower prices and heavy discounted buying. Weak domestic fuel margins have also reduced the incentive to import aggressively. Independent refiners in Shandong and state-run plants have faced pressure from high crude costs, capped fuel prices and softer demand growth as electric vehicles erode petrol consumption.
The fall in crude imports may help ease immediate pressure on global oil markets, but it also reflects the vulnerability of China’s energy security to maritime disruption. The Strait of Hormuz remains central to crude and liquefied natural gas flows, and any prolonged interruption would force Beijing to rely more on stockpiles, pipeline supplies from Russia and Central Asia, and alternative seaborne routes.
For commodity markets, May’s trade data showed a split picture. Metals exports are expanding where China can monetise overseas shortages, while energy imports are being managed more cautiously to reduce exposure to war-driven price spikes. Copper imports slipped from April, suggesting that parts of the manufacturing supply chain remain uneven despite the strong headline export performance.
Citrini Research has placed Hyperliquid among its more compelling crypto ideas, arguing that the decentralised exchange stands apart from much of the digital asset market because it generates meaningful cash flow and channels a large share of trading fees into token buybacks. The research firm’s attention carries unusual weight after its February essay on artificial intelligence and market risk helped trigger a sharp sell-off across technology and […]
Digital gold has arrived in the Gulf. It still answers to the gram. 1. Two buyers, one price Walk through the Dubai Gold Souq on a busy evening and you will see two buyers who think they are doing completely different things. One is turning a 22-karat bangle over in his hand, watching the shopkeeper punch the day’s rate into a calculator. The other is standing a […]
By Asad Mirza Marking exactly 100 days since a catastrophic conflict reordered the Middle East, a fragile, US-brokered truce violently collapsed as Israeli jets struck deep inside Iranian territory. By directly defying President Donald Trump’s explicit warnings to exercise restraint, Israeli Prime Minister Benjamin Netanyahu has pushed the region into uncharted waters, leaving a heavily […]
The article Israel’s Defiance Of Trump Shatters The Truce In The US-Iran War appeared first on Latest India news, analysis and reports on Newspack by India Press Agency).
