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The latest response includes curbs on bulk diesel purchases at retail outlets, a willingness to let the fiscal deficit widen beyond the Budget target, and measures to pull in overseas capital as policymakers try to contain pressure on inflation, subsidies and the balance of payments. The measures mark a sharp shift from the calmer macroeconomic backdrop at the start of the financial year, when lower inflation and steady growth had given authorities room to focus on consolidation.

Retail fuel outlets run by public sector oil marketing companies have been told to cap high-speed diesel sales at 200 litres per customer or vehicle per day. The restriction, planned for up to 90 days, is aimed at preventing hoarding and stopping commercial users from shifting large purchases to retail pumps, where prices are lower than bulk supply rates. Diesel bought from retail outlets cannot be resold, and dealers have been asked to ensure that sales go directly into vehicle tanks or approved containers.

The decision followed a surge in purchases from retail pumps after the conflict in West Asia widened the gap between retail and bulk diesel prices. Trucking firms, contractors and other commercial users have sought cheaper supplies, adding pressure on state-run fuel retailers that already carry most of the retail burden. Diesel accounts for a large share of transport and farm fuel demand, making any disruption politically sensitive as the kharif sowing season approaches.

The fiscal impact is becoming harder to ignore. The Budget had set the fiscal deficit target for 2026-27 at 4.3% of gross domestic product, after 4.4% in the revised estimate for 2025-26. Officials are now prepared to tolerate a higher deficit, potentially around 4.8% of GDP, if subsidy costs and energy-related spending rise further. Fertiliser subsidies are also expected to climb as global input costs move up, while fuel-related tax and pricing decisions could reduce revenue flexibility.

Spending cuts across ministries are being examined, though the Centre is likely to avoid sharp reductions in capital expenditure unless market conditions deteriorate further. Infrastructure spending has been one of the main pillars of growth in the past few years, and cutting it too deeply would risk weakening private investment at a time when companies are already facing higher transport and raw material costs.

The rupee has become the other pressure point. It strengthened on Friday after Brent crude fell below $90 a barrel on hopes of a diplomatic breakthrough, but the currency remains vulnerable to oil spikes because India depends heavily on imported crude. The Reserve Bank of India has introduced measures to attract dollar inflows, including support for foreign currency deposits and lower-cost hedging routes for overseas borrowing by state-run companies. Large lenders are preparing dollar bond issues, and banks expect a stronger push to tap non-resident deposits over the coming months.

Inflation has also started to reflect the shock. Retail inflation rose to 3.93% in May from 3.48% in April, with food and fuel costs moving higher. The reading remains close to the central bank’s 4% target, but the risk is that higher diesel prices feed into freight, farm operations and food distribution. Any weak monsoon spell linked to El Niño conditions would add another layer of pressure.

The project marks the company’s first new rare-earth refining facility since 2008 and comes as demand for high-performance magnets rises across electric vehicles, hard disk drives, robotics, wind power systems, defence equipment and advanced electronics. The investment is expected to exceed ¥35 billion, with ¥17.5 billion to be covered by government subsidy support, although the final cost and production schedule have not yet been fixed.

The new facility is intended to reinforce supplies for Shin-Etsu’s rare-earth magnet business and strengthen access to raw materials used in neodymium-based magnets. Heavy rare earths such as dysprosium, terbium and yttrium are particularly important because they improve magnet performance in high-temperature and high-stress applications, including vehicle motors and precision industrial systems.

Shin-Etsu already operates rare-earth refining facilities in Japan and has long been one of the country’s most important producers in the sector. Its rare-earth operations are centred in Fukui Prefecture, where it smelts materials and manufactures magnets at its plant in Echizen. The company says it works from raw materials through production to provide stable quality and supply, while also pursuing recycling and resource diversification.

The planned expansion reflects a broader shift in Japan’s industrial policy after months of tightening access to critical minerals. Chinese shipments of several heavy rare earths and gallium to Japan have been severely restricted since late 2025, heightening concerns among manufacturers that depend on these materials for magnets, semiconductors and other precision components. China continues to dominate mining, separation and refining capacity across the rare-earth value chain, giving Beijing considerable leverage over downstream industries.

Japan remains the largest rare-earth magnet producer outside China, but its manufacturers are still exposed to bottlenecks in the supply of heavy rare earths. The country has built stockpiles, backed overseas projects and encouraged recycling since the 2010 rare-earth shock, when diplomatic tensions with China exposed the risk of overdependence on one supplier. Those measures have improved resilience, but they have not removed the vulnerability.

The latest project is significant because it targets refining and processing rather than simply raw-material procurement. Mining deposits alone do not solve the supply challenge; rare earths require complex separation, purification and alloy processing before they can be turned into magnets. China’s advantage lies not only in reserves but also in decades of accumulated processing capacity, cost efficiency and industrial integration.

Shin-Etsu’s move also fits into a wider network of partnerships being pursued by Japan with Australia, France and the United States. Tokyo has backed alternative producers, supported offtake arrangements and encouraged private-sector investment in midstream processing. Australia-based Lynas has become a key non-China supplier, but output of heavy rare earths remains far below the volumes needed to replace Chinese supply in full.

The pressure is not limited to Japan. Manufacturers in the United States and Europe have faced similar supply uncertainty as export licensing delays affect rare earths used in aerospace, defence, clean energy and electronics. Companies exposed to the restrictions are searching for alternative suppliers, but industry executives warn that rebuilding a fully independent supply chain will take years.

For Shin-Etsu, the business case rests on both security and demand. Permanent magnets are central to electrification and digital infrastructure. Electric vehicles require compact, powerful motors; data centres and hard disk drives depend on precision magnetic components; wind turbines need high-strength magnets to improve efficiency. Demand growth has made the magnet supply chain a strategic concern for governments as well as manufacturers.

The company’s project is unlikely to eliminate Japan’s reliance on imported feedstock, especially for heavy rare earths where global non-China supply remains thin. It could, however, give domestic manufacturers greater control over processing, quality assurance and emergency production planning. That matters for customers in sectors where delivery delays can disrupt production lines and where material specifications are tightly controlled.

The government subsidy underscores how rare earths have moved from a specialist materials issue to a national industrial priority. Public support reduces the financial burden on companies undertaking technically demanding projects with long payback periods. It also signals that Tokyo is prepared to use industrial policy to keep strategic capabilities onshore.

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.

• Red Bull Malaysia announces Red Bull Next Generation, a new athlete development platform focused on emerging talent across Southeast Asia
• Applications open for Malaysian athletes aged 18–25 across all sports and disciplines
• Selected athletes will receive support including mentorship, workshops, media visibility and tailored development opportunities
• The programme focuses on identifying athletes before mainstream recognition, spotlighting the journey behind progression and performance
• Red Bull Next Generation forms part of a long-term commitment to supporting the future of youth sport and athlete storytelling in the region

“We want this programme to become more than an athlete initiative. We want it to become a platform that inspires ambition, progression and belief across the region.”

Selection goes beyond results and influences – athletes are evaluated based on mindset, potential, level of support and commitment to their sport. The Red Bull Next Generation programme combines performance support, expert guidance and athlete storytelling, helping selected athletes develop both competitively and personally. Athletes chosen for the programme will receive tailored support that includes workshops, mentorship, media training, financial assistance and content visibility across Red Bull channels.

Adelene Tay, Head of Marketing, TCP Red Bull Malaysia, shared, “Red Bull Malaysia has always been committed to energising the local sporting community, from supporting grassroots motorsports talent to providing platforms that inspire ambition, growth, and belief among the next generation of Malaysian athletes.”

“With Malaysia being one of the first markets to lead Red Bull Next Generation, we see this as an important opportunity to shine a spotlight on promising athletes and provide them with greater visibility and opportunities. At Red Bull Malaysia, we remain committed to building a stronger sporting community for the future, and we are excited to play a role in helping more Malaysian athletes realise their potential.”

The programme will also include guidance from Martin Pfeifenberger, a Performance Expert specialising in athlete training, recovery and human performance. With more than 20 years of experience, Martin has worked with elite athletes across over 100 sports disciplines, ranging from Formula 1 drivers and Olympic champions to top-performing teams in football, triathlon, and endurance sports.

“Across Southeast Asia, there are young athletes putting in the work every day, often before anyone is paying attention,” said Sigurd Meiche, Program Director for Red Bull Next Generation, who has extensive experience developing athlete-focused sports initiatives globally.

“Some athletes may already be competing at a high level, while others are building momentum within their local scenes, communities or cities. What matters to us is not whether someone is already famous or fully professional, it is their mindset, ambition and commitment to progressing in their sport,” he said.

“Red Bull Next Generation is about finding those athletes early, supporting them at the moment it matters most, and helping them unlock what’s possible both in sport and beyond it.”

Unlike many traditional, one-size-fits-all athlete programmes, Red Bull Next Generation is intentionally designed to be inclusive across all sports and disciplines, including esports, and welcomes both individual and team athletes. Whether competing nationally, building recognition within a city or hometown, or becoming influential figures within local sports communities, the programme is focused on identifying athletes with the ambition and potential to progress.

Centred around the belief that the next generation of athletes already exists, they just have not been seen yet, Red Bull Next Generation aims to spotlight the training, progression, setbacks and breakthroughs that happen long before mainstream recognition.

Hashtag: #RedBullNextGen

https://www.redbullsport.com/my/next-generation/2026
https://www.facebook.com/redbullsportmy/
https://www.instagram.com/redbullsport_my/
https://www.tiktok.com/@redbullsports

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

About Red Bull Malaysia

Energising Malaysians since 1993, Red Bull Malaysia is the No.1 energy drink brand in the nation, fuelling individuals of all lifestyles to live their purpose through a range of effective and delicious energy drinks. A firm believer in the special combination of “Energy” and “Passion”, the brand aims to give drinkers a boost they need to overcome everything and anything.

About TCP Group
TCP Group is a leading beverage and food company in Thailand and the owner of the world’s most iconic energy drink brand “Red Bull” with the Yoovidhya family. Also known as the “House of Great Brands,” the company has a diverse product portfolio and is active in 15 markets in Asia, employing more than 5,000 people globally. In Thailand, the company also enjoys success from its distribution, OEM, vending machine business and market activation service.

The MOU establishes a framework for collaboration to facilitate consented cross-border credit report applications for individuals with financial footprints in either country. The initiative aims to enhance financial inclusion, strengthen credit risk assessment, and support the growing economic integration between the two neighbouring markets.

Singapore and Malaysia share one of ASEAN’s most dynamic economic relationships, with bilateral trade regularly exceeding SGD 100 billion annually. Both countries maintain deep labour, education and business linkages, supported by strong digital infrastructure and rapidly growing digital financial services ecosystems.

The collaboration is strategically aligned with the Johor-Singapore Special Economic Zone (JS-SEZ), which places strong emphasis on digital industries, data-driven enterprises and technology-enabled services. As the digital economy accelerates cross-border business models, including fintech, e-commerce, digital banking and platform-based SMEs, trusted cross-border credit infrastructure will be critical to enabling secure digital onboarding, responsible lending and seamless access to capital across both markets.

Under the MOU, CBS and Experian Malaysia intend to collaborate on a cross-border initiative that enables the structured and secure exchange of individual credit information between the two markets.

The proposed framework will define:

• The operational roles of the “Source Bureau” and “Processing Bureau” in generating and facilitating cross-border credit data applications
• Secure mechanisms for obtaining and managing consumer consent for a one-time release of the credit report
• Personal data protection and compliance safeguards in accordance with applicable laws
• Commercial and governance models to support sustainable implementation

For consumers, the initiative is expected to improve access to financial products by enabling lenders to consider verified credit histories of individuals from across the border. This may particularly benefit digital-native workers, entrepreneurs and professionals whose financial footprints span both jurisdictions. As more individuals build financial footprints on both sides of the Causeway, the ability to securely and responsibly reflect their credit history across borders becomes increasingly important. A structured cross-border credit reporting framework can help ensure that consumers are assessed more fairly and comprehensively, rather than being treated as “new-to-credit” applicants when they move between Singapore and Malaysia.

For financial institutions, access to cross-border credit data can provide a more holistic view of an applicant’s financial obligations, supporting stronger digital underwriting, reduced cross-border fraud risk and more confident expansion into adjacent markets. Improved cross-border data transparency may also enhance operational efficiency and portfolio resilience in increasingly digital lending environments.

CBS and Experian Malaysia emphasised that data protection, regulatory compliance, and consumer consent are foundational to the initiative. Both parties are committed to working within their respective legal and regulatory frameworks and engaging relevant authorities to facilitate responsible implementation. The MOU also contains confidentiality provisions governing information exchanged in the course of collaboration.

Mr. William Lim, Executive Director of Credit Bureau Singapore, said:

“As individuals and businesses operate more seamlessly across Singapore and Malaysia, credit information systems must evolve to reflect cross-border realities. This collaboration represents an important step towards enabling more seamless and responsible access to credit for consumers.”

Ms. Dawn Lai, Chief Executive Officer of Experian Information Services Malaysia, added: “Trusted data collaboration is key to strengthening digital financial ecosystems. By working together, we aim to enhance financial inclusion, improve risk transparency and support sustainable growth across both markets.”

Mr. Vincent Yap, CBS Board Chairman & Group Chief Credit Officer, Consumer Credit Risk Management of Oversea-Chinese Banking Corporation, said “The access to cross-border credit data can provide a more comprehensive view of an individual applicant’s financial obligations, supporting more accurate risk assessment outcomes, reduced cross-border fraud risk and promote seamless access to capital across both markets.”

Hashtag: #Experian

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

About Credit Bureau (Singapore) Pte Ltd (www.creditbureau.com.sg)

Credit Bureau (Singapore) Pte Ltd (CBS), a subsidiary of Credit Bureau Asia Limited (CBA), is Singapore’s most comprehensive consumer credit bureau that has full-industry uploads from financial institutions such as retail banks, merchant banks, finance companies and credit card issuers licensed by the Monetary Authority of Singapore (MAS). CBS is a joint venture between The Association of Banks in Singapore (ABS) and Infocredit Holdings Pte Ltd.

The setting up of a consumer credit bureau in Singapore is a significant addition to enhance the Republic’s risk management capability. Since 2002, the Banking Act, administered by the Monetary Authority of Singapore, has allowed CBS members to disclose and obtain credit-related information to mitigate consumer credit risk through information pooling from CBS. From 2021, credit bureaus that conduct consumer credit reporting businesses in Singapore, such as CBS, are regulated under the Credit Bureau Act 2016.

As part of consumer credit reporting business, CBS aggregates credit-related information amongst participating members and presents a more complete risk profile of a customer to credit providers. This helps credit providers to determine the likelihood of the customer repaying, thus enhancing their risk assessment capabilities. Our goal is to also educate and reach out to the wider community on the importance of credit reputation.

CBS has also been designated by the Ministry of Law as the operator of the Moneylenders Credit Bureau (MLCB) under Section 56 of the Moneylenders Act.

MLCB is a central repository of data on borrowers’ loans and repayment records with all licensed moneylenders (LMLs) in Singapore. It will allow LMLs to assess the creditworthiness of borrowers and make informed decisions when granting loan applications. MLCB will also help borrowers to understand their loan information report so as to work towards achieving better financial health.

About Credit Bureau Asia Limited
(www.creditbureauasia.com)
Credit Bureau Asia Limited (CBA) is a leading player in the credit and risk information solutions market in Southeast Asia. CBA provides credit and risk information solutions to an extensive client base of financial institutions (“FI”), multinational corporations, telecommunication companies, government bodies and public agencies, local enterprises and individuals across Singapore, Malaysia, Cambodia and Myanmar. CBA’s business has two core segments, the FI Data Business and the Non-FI Data Business, covering both consumer and commercial credit risk information.

As at 31 December 2024, the Group has more than 255 financial institution members across Singapore, Cambodia and Myanmar, including banks, microfinance institutions, leasing companies and rural credit operators.

For its Non-FI Data Business, the Group has more than 6,000 enterprise customers, ranging from multinational corporations to small and medium-sized enterprises. CBA’s Non-FI Data Business operates in Singapore and Malaysia, where enterprise customers can access a wide range of business information and risk management services, sales and marketing solutions, and commercial insights. CBA combines data sourced from a variety of publicly accessible registries, Dun & Bradstreet’s extensive international network, as well as information contributed by businesses which subscribe to CBA’s payment bureau services. The Group has access to a database of more than 580 million business records globally.

CBA was named in Forbes Asia’s 2025 “Best Under A Billion” list, marking the second consecutive year that CBA has been named among the top 200 top-performing publicly listed small and mid-sized companies across the Asia-Pacific region.

About Experian (www.experianplc.com)

Experian is a global data and technology company, powering opportunities for people and businesses around the world. We help to redefine lending practices, uncover and prevent fraud, simplify healthcare, deliver digital marketing solutions, and gain deeper insights into the automotive market, all using our unique combination of data, analytics and platforms. We also assist millions of people to realise their financial goals and help them to save time and money.

We operate across a range of markets, from financial services to healthcare, automotive, agrifinance, insurance, and many more industry segments.

We invest in talented people and new advanced technologies to unlock the power of data and to innovate. A FTSE 100 Index company listed on the London Stock Exchange (EXPN), we have a team of 25,200 people across 33 countries. Our corporate headquarters are in Dublin, Ireland. Learn more at experianplc.com.

Focus on Data Governance to Help Hong Kong Enterprises Build Trusted AI Decision-Making Capabilities

HONG KONG SAR – Media OutReach Newswire – 9 June 2026 – FanRuan Software, a leading business intelligence (BI) software brand in the Asia-Pacific region, today held the “FANRUAN DATA & AI SUMMIT 2026” at the Kowloon Shangri-La Hotel. Themed “Data Shapes AI, AI Redefines Decisions,” the summit brought together enterprise representatives and technology experts from industries including finance, construction, retail, and manufacturing to explore practical pathways for enterprise data governance, BI applications, and intelligent decision-making in the AI era.

At the event, FanRuan highlighted that as generative AI and intelligent analytics tools accelerate their entry into enterprise scenarios, the focus of Hong Kong businesses has shifted from “whether to adopt AI” to “whether AI can truly support business judgment and management decisions.” In an environment characterized by multiple coexisting systems, complex cross-departmental collaboration, and heightened compliance and access control requirements, enterprises lacking a consistent, accurate, and traceable data foundation will find it difficult for AI to produce analytical results trusted by management.

Therefore, FanRuan proposed an enterprise AI implementation pathway of “Governance First, Intelligence Second,” emphasizing that AI’s value stems not only from model capabilities but also depends on whether enterprises possess a governable, verifiable, and sustainably usable data foundation.

AI Applications Enter Deep Waters: Data Governance Becomes a Critical Prerequisite

In recent years, Hong Kong enterprises have actively explored AI applications in operational management, financial analysis, procurement decisions, customer engagement, and risk control. However, in actual implementation, many companies still face challenges such as data fragmentation, inconsistent metrics, system silos, and complex access controls.

For enterprises, the true value of AI lies not merely in generating answers, but in its ability to help managers faster understand business changes, diagnose problems, and take action based on trusted data. If underlying data sources are untraceable, metric definitions are inconsistent, or different departments maintain separate versions of data for the same business issues, even advanced AI tools will struggle to form analytical bases credible to decision-makers.

FanRuan believes that enterprise AI applications are moving from tool experimentation into the deep waters of business operations. In the future, the key to successful AI adoption within enterprises hinges on whether they can first establish a clear, stable, and manageable data governance foundation.

From Standardization to Intelligent Analytics: FanRuan Presents an Enterprise AI Implementation Pathway

Addressing enterprise needs to progress from data governance to intelligent decision-making, FanRuan showcased its “Governance First, Intelligence Second” implementation approach at the summit, helping enterprises sequentially build comprehensive capabilities from data standardization and BI applications to AI analytics.

First, at the data standardization level, FanRuan provides standardized analytics templates across multiple industries through Fine Gallery (App Marketplace), assisting enterprises in rapidly establishing consistent metric definitions and analytical frameworks. For companies whose data architectures still require refinement, standardized analytics scenarios serve as a starting point for building a Single Source of Truth (SSOT), reducing cross-departmental communication costs and enhancing the reusability of data applications.

Second, at the BI application level, FanRuan helps enterprises transform data scattered across ERP, finance, procurement, project management, CRM, and other systems into reports, dashboards, and analytical charts usable by both management and business teams. Through consistent data presentation and access control management, enterprises can more effectively grasp operational conditions, transforming data from backend records into daily management tools.

Building on this foundation, FanRuan further demonstrated Dora Data Agent, an AI-powered data analytics assistant designed for enterprise management and business analysis scenarios. Based on governed enterprise business data, Dora assists users in conducting multi-dimensional root-cause analysis, anomaly interpretation, and issue diagnosis. When enterprises face performance fluctuations, cost variations, procurement anomalies, or deviations in operational metrics, Dora helps managers shorten the time from “problem discovery” to “cause diagnosis,” making AI analytics more aligned with actual business objectives and decision-making contexts.

Deepening Presence in Hong Kong Market to Drive AI Data Analytics Adoption

FanRuan stated that for AI applications to deliver long-term value within enterprises, reliance on single tools is insufficient; supporting data governance methodologies, talent training, and localized service support are equally essential. For the Hong Kong market, FanRuan will continue to advance its digital talent certification system, helping enterprises reduce dependence on individual technical staff experience, enabling more business and management personnel to acquire data analytics capabilities, and gradually fostering an organizational culture where “everyone can understand data and use data for decision-making.”

As Hong Kong enterprises accelerate their digital transformation, the key to successful AI adoption will be how to transform data scattered across different systems, departments, and processes into decision-making assets trusted by management and routinely used by frontline business operations. Moving forward, FanRuan will continue to center on the “Governance First, Intelligence Second” core pathway, helping Hong Kong enterprises lay a solid data foundation for the AI era and establish more robust decision-making advantages.
Hashtag: #FanRuan #DataGovernance #ArtificialIntelligence #BusinessIntelligence #DoraDataAgent #DigitalTransformation #HongKongTech #TrustedAI #DataAnalytics

https://www.fanruan.com/en
https://www.linkedin.com/company/fanruan/

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

About FanRuan Software

As the leading all-in-one Data Analytics & BI platform, FanRuan empowers enterprises worldwide to bridge the gap between raw data and strategic action. Founded in 2006, FanRuan serves over 43,000 clients globally through 50 strategic branches, combining international leadership with localized expertise to help organizations transform information into lasting business value. With over 5 million daily users across industries including finance, construction, manufacturing and retail, FanRuan provides the future-ready foundation for sustainable growth. For more information, please visit https://www.fanruan.com/en

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.