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India insurers seek doubling of tax-free limit for some products to boost inflows, sources say

May 29, 2026 1:35

MUMBAI: Indian life insurers have asked the government to double the tax-free limit for insurance policies from 500,000 rupees ($5,232), hoping for a boost to inflows into these funds, three sources directly aware of the matter said. New tax limits were imposed in February 2023, applicable to all insurance schemes except unit-linked insurance plans (ULIPs). Since then, inflows into non-ULIP schemes have risen a modest 2% and 5% for fiscal years 2024 and 2025, respectively. This is sharply lower than the 13% and 18% growth in the previous two years, data showed. The flows for fiscal 2026 grew 16%, largely due to a reduction in the goods and services tax. Stronger inflows into such funds will boost demand for ultra-long bonds - which these funds heavily invest in - at a time when the federal and state governments’ supply has risen, the sources said, declining to be identified as they are not authorised to speak to the media. Similar requests had been made after new tax limits were imposed. The Life Insurance Council and the Insurance Regulatory and Development Authority of India did not reply to a Reuters email seeking comment. India’s Life Insurance Corp posts quarterly profit rise on strong retail demand Slower inflows have curbed demand for longer-maturity debt, along with pushing up yields on 30-year and above maturity papers, faster than the 10-year note. The Indian government has reduced the share of ultra-long bonds in April-September borrowing to 25%, sharply lower than 30% for the second half of fiscal 2026 and 35% for the preceding six months. It would be difficult to maintain supply at this level, and the government will have to increase it to at least 30% in October-March, according to traders. “Increasing the tax exemption limit is a necessary first step to unlock the deep pool of long-term capital required to anchor India’s fiscal expansion,” said Arun Srinivasan, chief - fixed income, ICICI Prudential Life Insurance. “Implementing this measure will incentivise long-term retail and institutional savings, offering critical domestic support for the state’s ultra-long-term borrowing needs,” he said. The appeal was made via a letter from the Life Insurance Council, a forum which represents insurers, to the government earlier this month, the sources said. [...]

Sri Lankan shares rise on gains across sectors

May 29, 2026 1:00

Sri Lankan shares closed higher on Friday, as broad-based sectoral gains lifted stocks. The CSE All Share index settled up 0.5% at 22,310.80, closing the week higher. Industrial Asphalts (Ceylon) PLC and Sathosa Motors PLC were the top percentage gainers on the CSE All Share index, rising 20% and 14.2%, respectively. Trading volume on the CSE All Share index rose to 516 million shares from 61.9 million in the previous session. Sri Lanka monetary stance appropriate, 3% growth target within reach, IMF says The equity market’s turnover rose to 7.38 billion Sri Lankan rupees ($22.4 million) from 1.86 billion rupees in the previous session, according to exchange data. Foreign investors were net sellers, offloading stocks worth 1.8 billion rupees, while domestic investors were net buyers, purchasing shares worth 6.8 billion rupees, the data showed. [...]

Indian Oil Corp buys 5 million barrels of crude from West Africa, Middle East, sources say

May 29, 2026 12:55

NEW DELHI/SINGAPORE: State refiner Indian Oil Corp (IOC) bought 5 million barrels of crude oil from West Africa and Middle East via a tender this week, trade sources said on Friday. IOC purchased Angola’s Kissanje and Nemba crude for delivery to its Paradip refinery, the sources said. The company also bought Nigeria’s Usan crude from ExxonMobil and Abu Dhabi’s Murban crude from Mercuria for delivery to Vadinar. IOC also purchased Murban crude from Totsa, the trading arm of TotalEnergies, for delivery to Chennai, the people said. India hikes fuel prices for second time in a week The West African cargoes traded at premiums of around $4 a barrel to dated Brent, while Murban cargoes were sold at flat to a slight premium to dated Brent, they added. The companies typically do not comment on their commercial sales. [...]

India's forex reserves fall to over one-year low as central bank mounts Indian rupee defence

May 29, 2026 12:39

MUMBAI: India’s foreign exchange reserves fell to a more than one-year low of $681.4 billion in the week ended May 22, from $688.89 billion a week earlier, the Reserve Bank of India (RBI) data showed on Friday. The $7.5 billion decline was largely due to a $4.5 billion fall in the value of the central bank’s gold holdings, week-on-week. The value of the RBI’s foreign currency assets also shrunk by nearly $3 billion to $543 billion. Changes in foreign currency assets, expressed in dollar terms, include the effect of appreciation or depreciation of other currencies in the reserves. The RBI has been selling dollars to defend the beleaguered rupee, which has declined 4% since the U.S.-Iran war began, as surging energy prices sparked capital outflows and clouded India’s macroeconomic outlook. India’s FX reserves fall below $700 billion for the first time in over two months In the week to which the data pertains, the rupee slid to a record low of 96.96 per dollar before being shored up by firm RBI intervention over multiple trading sessions, including likely on Friday. It ended the session at 95 per dollar, up 0.7% week-on-week. Foreign exchange reserves include India’s Reserve Tranche position in the International Monetary Fund. FOREIGN EXCHANGE RESERVES (in million U.S. dollars) May 22, 2026 May 15, 2026 Foreign currency assets 543,032 545,904 Gold 114,786 119,317 SDRs 18,748 18,824 Reserve Tranche Position 4,818 4,850 Total 681,384 688,894 [...]

India's maritime lender set to launch country's first blue bond, top exec says

May 29, 2026 12:33

MUMBAI: India’s Sagarmala Finance Corporation is set to issue the country’s first ‘blue bond’, as it looks to diversify funding sources to lend towards developing maritime and coastal infrastructure, a top executive told Reuters on Friday. A blue bond is a debt security aimed at raising funds for ocean- and water-related projects, targeting investors that have a mandate to invest in bonds that have an environmental focus. While ‘green bonds’ used to fund climate change-related projects have seen a considerable pick-up, Sagarmala’s debt would be a first-of-its-kind blue bond in India. Globally, just over $15 billion in blue bonds had been issued by mid-2025, according to World Bank data. In 2020, the Bank of China had issued Asia’s first blue bond, while some island nations like Seychelles have also raised debt via such securities. Sagarmala, India’s state-owned maritime-focused lender, plans to raise up to 10 billion rupees ($105.08 million), including a greenshoe option of 5 billion rupees, Managing Director L.V.S. Sudhakar Babu told Reuters. Indian bonds rally as oil slips below $100/bbl, benchmark logs best day in 3 weeks While the exact tenor and rate are yet to be decided, the company plans to use the bond issue for longer term borrowing. Sagarmala’s existing term loans have an average tenor of 3.5 years, while the average tenor of loans itdisbursesis about 12 years, creating an asset-liability mismatch, Babu said. Trust Capital, AK Capital and Tipsons have been appointed as advisers to the bond issue, for which a date is yet to be finalized. “This will happen when the market is conducive and yields stabilise,” Babu said. India’s benchmark 10-year yield has risen around 35 basis points since the start of the U.S.-Iran war, denting activity in the bond market. Established in 2016 under India’s Ministry of Ports, Shipping and Waterways, Sagarmala received a non-banking financial company licence in June 2025. Reuters had earlier reported that Sagarmala plans to raise as much as 100 billion rupees in financial year 2027 to finance projects that strengthen India’s maritime ecosystem, including greenfield and brownfield ports, last-mile port connectivity, shipbuilding, inland waterways and coastal road networks. The company also administers the government’s 250-billion-rupee Maritime Development Fund, which includes a 50-billion-rupee Interest Incentivisation Fund, allowing it to provide interest subsidies to borrowers. Sagarmala is also seeking a 20-billion-rupee equity infusion from the government to maintain a healthy debt-to-equity ratio as it expands its loan book. [...]

Oil prices fall as market awaits possible US-Iran ceasefire deal

May 29, 2026 12:30

LONDON: Oil futures fell nearly 2% on Friday and were on track for their steepest weekly decline since early April after reports that the U.S. and Iran had reached agreement on a potential ceasefire extension. Brent crude futures for July, which expire today, were down $1.66, or 1.77%, at $92.05 a barrel by 1059 GMT. The more active August contract was down $1.63, or 1.76%, at $91.07. WTI U.S. oil futures were down $1.55, or 1.74%, at $87.35. The Brent benchmark has plunged by about 11% this week for its steepest weekly decline since the week ending April 6. WTI, meanwhile, has dropped by nearly 10% for its biggest weekly loss since the week ending April 13. “While oil flows through the Strait of Hormuz remain restricted and oil inventories keep falling, the market focus remains on the possibility of a deal between the U.S. and Iran,” said UBS analyst Giovanni Staunovo. “The price drop could be forcing some market players to close their long positions.” The U.S. and Iran reached an agreement on Thursday to extend a ceasefire and lift restrictions on shipping through the Strait of Hormuz, sources told Reuters, though U.S. President Donald Trump has yet to approve it and Iranian state media said it had not been finalised. Prices have been volatile in recent sessions, swinging by as much as $6 for both benchmarks on conflicting signals over a possible end to the Iran war and potential reopening of the Strait of Hormuz, which was previously a conduit for a fifth of the world’s oil and liquefied natural gas supplies. Traffic through the maritime chokepoint remains a small fraction of levels before the conflict. Analysts at ING said a reopening of the waterway would offer some immediate relief to the oil market, but a recovery is still uncertain. Japan, which relies heavily on oil from the Middle East, last month registered a 66% drop in crude oil imports compared with April last year. Commerzbank raised its Brent crude oil price forecasts to $90 a barrel by the end of September and $85 by the end of the year, based on a scenario in which the Strait of Hormuz is expected to remain closed to normal shipping for another two months. Meanwhile U.S. crude, gasoline and distillate stockpiles fell last week, the Energy Information Administration said on Thursday, as demand from refiners and consumers rose and exports fell by 1.16 million bpd to 4.4 million bpd. [...]

Copper slips after strong month as lack of news on Iran deal curbs upswing

May 29, 2026 12:04

LONDON: Copper prices edged lower on Friday as investors waited for more news about a potential deal to extend a ceasefire in Iran and as the dollar firmed. Three-month copper on the London Metal Exchange was down 0.1% at $13,690 a metric ton by 0910 GMT after gaining 1.3% in the previous session. LME copper rebounded on Thursday on the back of news that the U.S. and Iran reached an agreement to extend their ceasefire and lift restrictions on shipping through the Strait of Hormuz. But President Donald Trump has yet to approve it and Iranian state media said it had not been finalized. “Copper is drifting lower today, it seems like we’ve got some profit-taking. We’ve certainly had a small uptrend for the last two weeks, but it’s stalling a bit,” said Ole Hansen, head of commodity strategy at Saxo Bank in Copenhagen. LME copper is on track to gain 5.3% this month, largely on hopes for a deal to end the Iran war and signs of firmer demand. The most-traded copper contract on the Shanghai Futures Exchange added 0.8% to 104,840 yuan a ton. The contract has gained about 3% so far this month. Both contracts were up for the second straight month. “A successful deal could open the door for stronger gains, while any breakdown risks reigniting inflationary pressures and capping upside,” said Tim Waterer, chief market analyst at KCM Trade. Copper was also supported by the continued flow of metal to the U.S. as traders took advantage of a slight premium of U.S. futures over those in London. U.S. Comex copper futures dipped 0.2% to $6.44 a lb, bringing the premium of Comex over LME copper to 3.7% or $511 a ton. “If you take copper out of the market into the U.S. then that helps to tighten the overall global market, so it’s difficult not to paint a picture of underpinned and supported prices going forward,” Hansen said. Among other metals, LME aluminium was little changed at $3,660 a ton, zinc added 0.3% to $3,563, lead rose 0.3% to $2,024, tin gained 0.4% to $55,300, and nickel dipped 0.1% to $19,090. [...]

Palm oil books a second straight weekly gain

May 29, 2026 11:59

JAKARTA: Malaysian palm oil futures reversed gains and closed lower on Friday, although they stillbooked their second straight weekly gain, up 1.09% for the week. The benchmark palm oil contract for August delivery on the Bursa Malaysia Derivatives Exchange lost 2 ringgit, or 0.04%, to 4,535 ringgit ($1,144.34) a metric ton at the close. The futures will be closed on June 1 and June 2. Trading will resume on Wednesday, June 3. Dalian’s most-active soyoil contract rose 0.75%, while its palm oil contract added 0.37%. Soyoil prices on the Chicago Board of Trade were up 0.1%. Palm oil tracks the price movements of rival edible oils, as it competes for a share of the global vegetable oils market. Indonesia set its crude palm oil reference price for June at $1,029.51 per metric ton, a Trade Ministry decree showed on Friday, down from $1,049.58 per ton in May. The Indonesian government met with palm oil farmer groups on Friday to address concerns about a steep decline in the prices of fresh fruit bunches, which farmers say was caused by uncertainties about a new plan to funnel all palm oil exports through a state agency. European Union soybean imports for the 2025/26 season that began in July had reached 11.95 million tons by May 24, down 8% from the same period a year earlier, while palm oil imports were down 4% at 2.55 million tons, European Commission data showed. [...]

KSE-100 gains 1.3% in strong post-Eid trading session

May 29, 2026 11:59

The Pakistan Stock Exchange (PSX) staged a strong bullish post-Eid session on Friday, with the benchmark KSE-100 Index gaining 1.3%, reflecting aggressive buying across the board. The market opened on a volatile note, hitting the intraday low of 171,545.46 in early trade as investors initially remained cautious. However, sentiment quickly turned positive, triggering a steady upward trajectory throughout the session. The rally intensified during the second half of trading, with the benchmark crossing the 174,000 mark intraday and hitting a session high of 174,106.34 points. Although some profit-taking emerged near the end, signalling sustained investor confidence. At close, the benchmark index settled at 173,962.81, down by 2,237.52 points or 1.30%. On Monday, PSX staged a strong recovery as renewed optimism surrounding ongoing United States-Iran negotiations, easing international oil prices, and aggressive buying ahead of the Eid holidays propelled the stock market sharply higher. The benchmark KSE-100 Index closed at 171,725.29 points, registering a substantial increase of 3,881.05 points or 2.31%. Globally, world stocks stood at record highs on Friday, and oil futures eyed the steepest weekly drop for nearly two months as traders waited for details on a potential deal to reopen the Strait of Hormuz and extend the US-Iran ceasefire. Sources told Reuters that the US and Iran have reached an agreement to extend their ceasefire and lift restrictions on shipping, though US President Donald Trump has yet to approve it, and Iranian state media said it had not been finalised. Moves in the Asian morning were modest, with S&P 500 futures steady after the index notched another record closing high overnight. MSCI’s index of world stocks edged up to a record high, with AI-euphoria lifting chipmaker shares around the world and pushing benchmarks in Tokyo and Seoul up around 2% on Friday morning and toward weekly rises. [...]

Indian rupee soars to best day in nearly two months as central bank steps in, oil drops

May 29, 2026 11:34

MUMBAI: The Indian rupee jumped sharply on Friday to log its best single-day gain in nearly two months as likely intervention by the central bank converged with a drop in oil prices, which also briefly lifted the local currency above the 95/USD mark. The Indian rupee ended the session at 95 per dollar, up 0.7% from the previous session, its best day since April 2. It gained by a similar amount week-on-week, but was flat for the month. While the rupee appeared set to endure a weaker day, likely dollar selling intervention reversed the trajectory, with a drop in crude prices adding to the upward momentum. Oil prices dropped after a plan for extending the truce between the U.S. and Iran awaited approval from U.S. President Donald Trump. Brent futures were last hovering around $91 per barrel, on track for their steepest weekly decline since early April. According to four sources familiar with the matter, the agreement would extend the truce for another 60 days and allow traffic to flow through the Strait of Hormuz, a key artery for global energy supplies. Worries over the economic hit to India - the world’s third-largest oil importer - have spurred steep capital outflows, with overseas investors pulling over $24 billion from Indian debt and equities on a net basis between March and May. Investors’ focus is now on the Reserve Bank of India’s monetary policy decision on June 5. Most economists polled by Reuters expect the RBI to keep its key interest rate unchanged at 5.25%. A minority are anticipating a rate increase to counter inflationary risks and steady the currency, which is down more than 5% so far in 2026. “Our base case is that the RBI lifts the repo rate to 6.00% before the end of the year, but that is contingent on the crisis coming to an end soon and energy prices dropping back,” Shilan Shah, deputy chief EM markets economist at Capital Economics, said in a note. [...]

Indian equity benchmarks log monthly losses on Iran war jitters

May 29, 2026 11:23

India’s equity benchmarks fell on Friday, posting a monthly drop as uncertainty over a U.S.-Iran peace deal prompted investors to lock in gains after the previous month’s strong rally. The Nifty 50 fell 1.5% to 23,547.75and the BSE Sensex shed 1.44% to 74,775.74 on Friday, taking their monthly losses to 1.9% and 2.8%, respectively. Losses swelled in the last half an hour’s trade on Friday as index provider MSCI’s May index rejig came into effect. While India enjoyed a surge in its weight in the MSCI EM index between 2020 and 2024, rising to about 20% in July 2024, it is expected to come down to 11.2% after the latest MSCI rebalancing, as per IIFL Capital. The 50-stock index had plunged 11.3% in March before rebounding 7.5% in April. “We are unlikely to see a consistent rise in Indian stocks unless the uncertainty over U.S.-Iran conflict is clearly behind us,” said Arun Malhotra, founder and fund manager at CapGrow Capital. Brent Crude futures fell 19% in May, but remain 27.3% above the levels seen before the Iran war. India is the world’s third biggest crude importer. Elevated oil prices and a lack of AI trade have kept the Indian market out of favour among foreign investors, analysts said. Ten of the 16 major sectors logged monthly losses. Broader markets outperformed, with the small-cap and mid-cap indexes rising 0.7% and 3.2%, respectively, on earnings optimism. Heavyweight financials and IT stocks lost 1.2% and 0.9%, while Reliance Industries shed 7.7%. ONGC fell 11.4% on profit booking after a 25% rise over the previous four months, and on concerns over production delays at key projects. ITC declined 8.9% as analysts flagged that recent price hikes will likely weigh on cigarette volumes in June. Adani Enterprises surged 22%, after the U.S. dropped fraud charges against Gautam Adani. Hindalco and National Aluminium gained 8.6% and 6.3% as steady domestic demand, pricing comfort and global supply worries linked to the Iran war lifted metal prices. [...]

Rupee registers gain against US dollar

May 29, 2026 11:19

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posted marginal gain against the US dollar in the inter-bank market on Friday. At close, the local currency settled at 278.50, a gain of Re0.01 against the greenback. On Monday, the local unit closed at 278.51. The dollar extended its weakness against major currencies on Friday and was on track to end the week lower. The euro fetched $1.1653, up 0.03% so far in Asia, while the pound traded flat at $1.3445. The Australian dollar was steady at $0.7164 and the New Zealand dollar rose 0.2% to $0.5946, near the strongest level in more than two weeks. The dollar index, which measures the greenback against a basket of currencies, was largely flat at 98.997 after dropping 0.2% on Thursday. It is now on track to snap two weeks of gains and end the week 0.3% lower. Moreover, oil futures fell more than 1% on Friday and were on track for their steepest weekly decline since early April, following reports that the US and Iran had agreed to extend a ceasefire, though it had yet to be finalised. Brent crude futures for July fell 1.1% or $1.04 to $92.67 a barrel at 0330 GMT. US oil futures fell $1.26, or 1.4%, to $87.64 a barrel. Brent plunged 10.5% this week - the steepest plunge since the week that ended on April 6, while WTI fell 9.2% - the biggest weekly loss since the week that ended on April 13. [...]

Gold price drops by Rs500 per tola in Pakistan

May 29, 2026 9:50

Gold prices in Pakistan decreased on Friday in line with their loss in the international market. In the local market, gold price per tola reached Rs474,862 after a decline of Rs500 during the day. Similarly, 10-gram gold was sold at Rs407,117 after it fell by Rs429, according to rates shared by the All-Pakistan Gems and Jewellers Sarafa Association (APGJSA). On Tuesday, gold price per tola reached Rs475,362 after a decline of Rs2,400 during the day. The international rate of gold declined by $5 to reach $4,525 per ounce (with a premium of $20). Meanwhile, the price of silver also decreased by Rs83 to reach Rs8,034 per tola. [...]

French GDP slips 0.1% in first quarter: official data

May 29, 2026 7:05

PARIS: The French economy contracted 0.1 percent in the first quarter from the fourth quarter last year, statistics office INSEE said Friday, a downward revision from its previous reading of zero growth. The decline resulted from lower consumer spending than initially estimated, in particular on fuel after the surge in energy prices since the war in the Middle East, the agency said. [...]

Copper set for second straight monthly gain on US-Iran peace deal hopes

May 29, 2026 6:10

Shanghai copper rose on Friday, on track for a second straight monthly rise, as hopes of a US-Iran peace deal pushed oil prices and the dollar lower, easing fears of higher inflation and a global slowdown. The most-traded copper contract on the Shanghai Futures Exchange was up 0.8% at 104,900 yuan ($15,472.55) as of 0324 GMT. The contract has gained 3.7% so far this month. Three-month copper on the London Metal Exchange was unchanged at $13,699 a metric ton. Both the contracts were up for the second straight month. The United States and Iran reached an agreement on Thursday to extend their ceasefire and lift restrictions on shipping through the Strait of Hormuz, sources told Reuters, though US President Donald Trump has yet to approve it and Iranian state media said it had not been finalized. “Base metals are benefiting from a more favourable macro backdrop,” said Tim Waterer, chief market analyst at KCM Trade. “A successful deal could open the door for stronger gains, while any breakdown risks reigniting inflationary pressures and capping upside.” The US dollar is down 0.2% so far this week, making greenback-priced commodities cheaper for holders of other currencies. Crude oil prices fell more than 10% through Friday, on hopes of a durable deal between the US and Iranthat would reduce stagflation risk for the world economy, supporting the outlook for copper. China’s central bank has instructed banks to boost lending this month, people with knowledge of the matter said, in afurther boost to copper market sentiment thatunderscores Beijing’s continued efforts to support an economy squeezed by higher energy costs and stubbornly weak domestic demand. “The broader trend for base metals remains favorable but expect highly volatile, choppy and news-driven trading in the upcoming trading sessions,” said Jordan Chua, senior strategist at Phillip Nova. Elsewhere on the LME, aluminium lost 0.1%, zinc rose 0.5%, lead was steady, nickel lost 0.6% and tin gained 0.2%. Aluminium was up for the third straight month on supply disruptions due to the conflict, while nickel was the only base metal that fell in May. Among other SHFE metals, aluminium rose 0.2%, zinc was up 1.1%, lead lost 0.5%, nickel gained 0.1% and tin rose 1.3%. [...]

India insurers seek doubling of tax-free limit for some products to boost inflows, sources say

May 29, 2026 1:35

India's RBI plans expansion of digital rupee through welfare schemes, cross border payments

May 29, 2026 1:10

MUMBAI: The Reserve Bank of India is planning to expand the digital rupee to more applications in welfare payments and test its use in cross-border transactions, it said in its 2025-26 annual report on Friday. The move comes as India seeks to broaden the use of the digital rupee and explore its role in overseas payments. The RBI has conducted multiple welfare-linked central bank digital currency pilots during the 25/26 fiscal year including in states and union territories such as Gujarat, Puducherry and Chandigarh where beneficiaries received food subsidies through digital rupee, the RBI said. “At the institutional level, multiple government agencies commenced pilots in various direct benefit transfer (DBT) schemes leveraging programmability feature of CBDC to ensure productive utilisation of public funds,” RBI said in its annual report. Indian banks seek hedging cost subsidy from RBI to raise dollar funding, sources say Reuters had reported in April that India is piloting at least ten CBDC pilots across the country to test whether the e-rupee can be used to deliver welfare payments more efficiently. The push comes even as retail e-rupee circulation fell to 7.71 billion rupees as of March 31, 2026, from 10.16 billion rupees a year earlier, annual report data showed. To advance cross-border payments, the RBI has signed a digital assets pact with Singapore’s monetary authority and is discussing pilot projects with Singapore and the United Arab Emirates. It is also participating in multilateral initiatives led by the Bank for International Settlements, it said in the annual report. Separately, the RBI said its cloud platform for financial firms went live in beta mode with nine users, making such a move amongst the first among central banks. Reuters was the first to report the RBI’s plan. India’s Pine Labs posts quarterly profit on digital payments boost “The work on phase I of the IFS cloud services is in advanced stage,” RBI said. The phase I of the RBI’s Indian Financial Sector (IFS) cloud will have basic services and subsequently work on Phase II of the cloud with advanced services will be initiated, RBI said. [...]

Sri Lankan shares rise on gains across sectors

May 29, 2026 1:00

Indian Oil Corp buys 5 million barrels of crude from West Africa, Middle East, sources say

May 29, 2026 12:55

India's forex reserves fall to over one-year low as central bank mounts Indian rupee defence

May 29, 2026 12:39

India's maritime lender set to launch country's first blue bond, top exec says

May 29, 2026 12:33

Oil prices fall as market awaits possible US-Iran ceasefire deal

May 29, 2026 12:30

Indian airline IndiGo posts quarterly loss on capacity curbs, declining Indian rupee

May 29, 2026 12:10

Indian budget carrier IndiGo reported a fourth-quarter loss on Friday as the country’s top airline struggled with domestic capacity, a declining rupee and soaring fuel prices. The airline posted a loss of 26.62 billion rupees ($280.2 million) for the quarter ended March 31, compared with a profit of 30.73 billion rupees in the year-ago period. During the quarter, the airline had to cut its domestic capacity by 10% on orders from the country’s aviation regulator after mass cancellations in December that led to one of the country’s worst aviation crises and the abrupt exit of its CEO. Quarterly revenue grew 1.3%, however, expenses jumped at a faster pace, up nearly 31%. IndiGo, Air India cut June-July domestic flights amid high jet fuel prices, sources say Over 60% of IndiGo’s costs are directly or indirectly dollar-denominated, and a depreciating local currency has been driving up overall expenses for the company. IndiGo’s forex losses came in at 48.82 billion rupees during the quarter, compared with a gain of 1.38 billion rupees last year. Moreover, soaring fuel prices due to supply constraints following the Iran war, also ate into the airline’s margins. Airlines such as IndiGo, which do not hedge fuel, have been grappling with soaring jet fuel prices as the Iran war pushed crude to above $100 per barrel. [...]

Copper slips after strong month as lack of news on Iran deal curbs upswing

May 29, 2026 12:04

Palm oil books a second straight weekly gain

May 29, 2026 11:59

KSE-100 gains 1.3% in strong post-Eid trading session

May 29, 2026 11:59

Indian rupee soars to best day in nearly two months as central bank steps in, oil drops

May 29, 2026 11:34

Pakistan’s iTANZ eyes $45mn tech opportunities through China partnerships

May 29, 2026 11:23

Pakistan-based iTANZ Technologies Limited has signed Memorandums of Understanding (MoUs) with three Chinese technology firms for potential collaborations valued at around $45 million, i.e. approximately Rs12.5 billion, aiming to strengthen cooperation in artificial intelligence, robotics, digital platforms, and offshore software services. iTANZ Technologies Limited, a publicly listed company on the Pakistan Stock Exchange (PSX), was part of the official delegation accompanying Prime Minister Shehbaz Sharif during his visit to China aimed at strengthening Pakistan–China economic and strategic cooperation. Chief Executive Officer (CEO) Syed Asim Zafar represented iTANZ Technologies Limited in Hangzhou, where the delegation participated in high-level B2B engagements with leading Chinese technology and innovation enterprises. During the visit, iTANZ Technologies Limited signed Memorandums of Understanding (MoUs) with Zhejiang Xiangyue Group, Suzhou Xuqing Intelligent Technology Co., Ltd., and Shanghai Shuhai ZhiLian Digital Technology Co., Ltd. to collaborate in the areas of artificial intelligence, robotics, digital platforms, technology transfer, offshore software services, and joint market development. “The signed MoUs establish a framework for strategic cooperation and identify potential business opportunities with an aggregate indicative value of approximately $45 million (approx. Rs12.5 billion). “The indicative value represents the estimated scale of opportunities being pursued by the parties and remains subject to definitive agreements, commercial negotiations, due diligence, and applicable regulatory approvals,” read the notice. Fauji Fertilizer inks $1.12bn project under CPEC 2.0 As per the notice, the delegation visit provided a key platform for advancing cross-border collaboration in technology, investment, and digital transformation between Pakistan and China. iTANZ Technologies Limited was incorporated in Pakistan as a public limited company in 1990. The company was formerly known as Zahur Cotton Mills Limited. In March 2025, the Lahore High Court approved the merger of the company and ITANZ Technology Private Limited (ITPL) with effect from October 01, 2023. After the merger, the company’s principal business activity included software development, installation and implementation as well as other IT-related supplies and services. The company also provides consultancy services in the field of IT. [...]

Indian equity benchmarks log monthly losses on Iran war jitters

May 29, 2026 11:23

Rupee registers gain against US dollar

May 29, 2026 11:19

India's RBI plans expansion of digital rupee through welfare schemes, cross border payments

May 29, 2026 1:10

Understanding modern drivers of hypertension in urban Pakistan

May 29, 2026 1:09

Every May 17th, the world observes ‘World Hypertension Day’. Yet in the urban centers of Pakistan like Karachi, Lahore, Islamabad, and Rawalpindi, we need a dedicated calendar date to feel the weight of this crisis. Hypertension is no longer a condition that creeps up on people in their fifties. It is arriving earlier, faster, and more silently than we have ever seen before. The drivers, this time around, are the very rhythms of modern life. The numbers demand our attention. According to the World Health Organisation’s (WHO) 2023 Hypertension Profile for Pakistan, an estimated 32.2 million adults aged 30 to 79 in this country are living with hypertension. More alarming is a 2025 community-based cross-sectional study conducted at HBS Medical and Dental College, Islamabad, which found that a significant proportion of young adults between 18 and 35 years of age were carrying undiagnosed hypertension; quietly, unknowingly, and dangerously. These are not middle aged or senior citizens. These are final-year students, junior executives, new parents, and ride-share drivers navigating traffic at midnight in our cities. The cardiac consequences of this trend are already appearing in Pakistani hospital wards. A cross-sectional study found that among 150 patients under the age of 40 who presented with acute coronary syndrome, the mean age at the time of heart attack was just 34 years. Hypertension was identified as a significant risk factor in over one in five of these young patients. They were people in the prime of their working lives, many of whom likely had no idea their blood pressure was silently preparing the ground for a major heart attack. So, what has changed? Why are we seeing this shift in the age of onset? The answer lies not in genetics alone but in the architecture of urban Pakistani life today. Let us begin with stress, because in 2026, chronic psychological stress is no longer a soft, abstract complaint. It is a physiological event. When the body perceives threat; whether from a work deadline, a financial worry, or the relentless stimulation of a social media feed; it activates the hypothalamic-pituitary-adrenal (HPA) axis, flooding the bloodstream with cortisol and adrenaline. This drives up heart rate and constricts blood vessels. Do it repeatedly, every day, over months and years, and what you have is a vascular system under siege. Pakistan has undergone a quiet but profound dietary transition, and we are only now beginning to measure its cardiovascular cost. A 2025 Frontiers in Cardiovascular Medicine study drawing on the Global Burden of Disease 2021 database found that changes in modern lifestyles, particularly high mental stress, sedentary behavior, and high-sugar and high-fat diets, are directly accelerating hypertension burden in the 15 to 39 age group. For the young professional in Islamabad managing client calls across time zones, or the medical student pulling consecutive nights before examinations, this is not a hypothetical risk. It is their daily operating condition. Layered onto stress is the near-total collapse of physical activity in urban life. We have engineered movement out of our existence. Offices, universities, and homes are increasingly sedentary environments. Deliveries arrive at the door. Meetings happen on screens. A 2024 systematic review in PubMed confirmed that sedentary behavior is one of the most statistically significant lifestyle risk factors for hypertension among young adults, particularly when combined with obesity and poor diet. Karachi’s 2024 school-based study from Aga Khan University found that 13% of urban children already showed obesity and 21% had central obesity. These are the hypertensives-in-waiting of the next decade. Then, there is what we are eating. Or more precisely, what we are not eating. A landmark 2024 prospective cohort study published in the journal Nutrition found that participants under 47 years of age who consumed the highest quantities of ultra-processed foods had nearly double the risk of developing hypertension compared to those who consumed the least. Biryani from a foil-wrapped bag, instant noodles, fizzy drinks, packaged snacks purchased from a roadside stall; these products are typically saturated with sodium, industrial fats, and food additives that interfere with endothelial function, promote sodium retention, and drive vascular inflammation. Pakistan has undergone a quiet but profound dietary transition, and we are only now beginning to measure its cardiovascular cost. Sleep is the final, and perhaps most underestimated, variable. Numerous studies have confirmed a clear association between short sleep duration and elevated hypertension risk in young and middle-aged individuals. Asia, including Pakistan, has among the highest rates of late-night sleep patterns globally, driven by screen time, social obligations, and anxiety. A 2025 cross-sectional study including Pakistani participants found that shorter sleep was significantly associated with both higher perceived stress and cardiovascular risk. Sleep deprivation elevates sympathetic nervous system activity, suppresses nocturnal blood pressure dipping, and promotes arterial stiffness; all of which the sleeping body normally repairs between midnight and dawn. When that window is stolen by Instagram reels or exam anxiety, the repair does not happen. The cumulative portrait is sobering. A 26-year-old in an urban Pakistani city who eats processed food regularly, sits for most of the day, sleeps fewer than six hours, and lives under financial or academic stress is not simply making lifestyle choices. They are building hypertension, brick by brick, without a single symptom to warn them. What can be done? The first and most powerful intervention remains lifestyle. Thirty to forty-five minutes of moderate aerobic activity most days of the week has been shown to reduce systolic blood pressure by four to nine millimeters, an effect comparable to some medications. A diet reduced in sodium and processed foods, and rich in potassium from fruits and vegetables, supports healthy vascular tone. Seven to eight hours of quality sleep, along with structured stress management practices such as mindfulness, prayer, or physical exercise, can meaningfully reset the body’s threat response over time. However, we must be honest. For a significant number of patients, lifestyle change alone will not be sufficient. When blood pressure remains consistently elevated despite non-pharmacological efforts, medical therapy is indicated and should not be delayed. The global standard of care relies on several well-established generic drug classes. These include angiotensin-converting enzyme inhibitors and angiotensin receptor blockers, which protect the heart and kidneys while reducing vascular resistance; calcium channel blockers, which relax and widen blood vessels; thiazide diuretics, which reduce fluid volume; and beta-blockers, which lower heart rate and cardiac output. These pharmaceutical options are available in Pakistan, affordable, and when prescribed appropriately and taken consistently, highly effective. The tragedy is not that treatment is unavailable, but the lack of awareness and understanding regarding this silent killer. This World Hypertension Day, I urge one simple act: measure your blood pressure right now, and for best results maintain a chart. If consistently high, seek medical advice and get on to a supportive diet and if needed a good medical regime. The regular check can change the trajectory of the next decades of your life. The silent killer earns its name because it asks nothing of you before it takes everything. Do not let urban Pakistan’s relentless pace be the reason you never heard it coming. [...]

Sri Lankan shares rise on gains across sectors

May 29, 2026 1:00

Indian Oil Corp buys 5 million barrels of crude from West Africa, Middle East, sources say

May 29, 2026 12:55

Eleven children killed, injured every 24 hours in Lebanon, UN says

May 29, 2026 12:47

GENEVA: Eleven children have been killed or injured on average every 24 hours in Lebanon over the last week, the U.N.‘s children’s agency said on Friday, as Israel has expanded strikes across the country despite a ceasefire. Heavy Israeli strikes hit towns and villages in southern Lebanon overnight on Wednesday and into Thursday, after Israel declared a new swathe of the area a combat zone. It also struck a building in the southern suburbs of Beirut on Thursday. A total of 77 children have been killed or injured in the last seven days, UNICEF said, citing figures provided by Lebanon’s Ministry of Public Health. Since the ceasefire began on April 16, 55 children have been killed and 212 injured, according to the agency. Lebanon says 12 dead, including 2 children, in Israeli strikes on south UNICEF spokesperson Ricardo Pires called for all parties to fully respect the ceasefire. “Under international humanitarian law, children and civilian infrastructure must be protected,” he said. The ceasefire announced by Washington was meant to halt the fighting that has raged between Israeli troops and Hezbollah since March 2. The U.N.’s World Health Organization also said on Friday that the threat from the expansion of military activities raised grave health concerns for the Lebanese population. Israel will escalate strikes against Hezbollah in Lebanon, Netanyahu says Since the ceasefire took effect, a total of 27 attacks on healthcare facilities in Lebanon have been reported, resulting in 25 deaths and 42 injuries, according to the WHO. A total of 16 hospitals and 13 primary healthcare centres have been damaged in attacks, it added. [...]

India's forex reserves fall to over one-year low as central bank mounts Indian rupee defence

May 29, 2026 12:39

India's maritime lender set to launch country's first blue bond, top exec says

May 29, 2026 12:33

Abu Dhabi T10 eyes new franchises after governance overhaul, says CEO

May 29, 2026 12:25

Abu Dhabi T10 is looking to attract new international franchises as part of a broader push to expand the competition’s global footprint, Chief Executive Matt Boucher said, with a focus on improving transparency and strengthening governance. Abu Dhabi Cricket & Sports Hub assumed majority ownership and commercial control of the 10-overs-a-side competition last week, transitioning the league - launched in 2017 by Shaji Ul Mulk - into a government-owned and managed tournament. Boucher said the move was aimed at creating long-term stability for teams and restoring confidence in a league that had faced concerns over financial practices and integrity in previous seasons. “The new licence from the Emirates Cricket Board empowers us to offer new 10-year licences to a selection of existing teams and a suite of new international franchise partners,” Boucher told Reuters. “We’re currently in detailed conversations with some existing Abu Dhabi T10 teams regarding the future and we will soon launch a global invitation to new teams.” The eight-team tournament has seen frequent franchise turnover, with 18 different teams involved over nine seasons, reflecting instability under the previous model. With sponsorship value estimated at $512 million, the new structure aims to provide financial certainty, with each franchise guaranteed a share of central revenue. “On the financial model, each franchise will receive a guaranteed share of the Central Pool Income annually for years one to 10, giving owners a foundation of revenue certainty,” he said. WAGE ISSUES The league has previously faced criticism over delayed and unpaid wages, with players and officials often registering complaints about the governance. A 2020 report by the Federation of International Cricketers’ Associations said some players and coaches were still owed up to half their salaries from the 2019 season months after it ended. Integrity also came under scrutiny, with players banned for spot-fixing in 2021 and several individuals charged in 2023 over attempts to manipulate matches during the 2021 edition. In 2024, ICC anti-corruption officials warned of a high risk of corruption in the Abu Dhabi T10, with further bans imposed on players. “The real focus is on much stronger player governance and player welfare - together with the respective global governing bodies who oversee this,” Boucher said, adding that strengthening oversight would be central to the league’s overhaul. Changes to squad composition have also been introduced, with teams now limited to two direct signings - an icon and one platinum player - and the remaining squad selected through a draft, replacing earlier systems that allowed multiple pre-signings. The 2026 edition features one icon, two platinum players, including one from the draft, three each across categories A, B and C - ranked according to international stature and salary - along with UAE and associate players, with nine overseas and at least two UAE players required in the playing 11. Boucher also welcomed the growth of cricket across the Middle East, including emerging competitions in neighbouring countries. “Cricket in the Middle East has really taken off in the last 10 years, with the UAE leading the way,” he said. “If our neighbours are now entering this cricketing ecosystem, and developing their own products, then that’s fantastic for our residential populations and for our governing bodies.” The tournament is scheduled to run from November 7 to 20. [...]

Up to Serena to announce potential comeback and partnership, says Mboko

May 29, 2026 12:17

PARIS: Victoria Mboko said it was up to American great Serena Williams to announce her comeback to the sport as media speculation intensified about their potential doubles partnership at next month’s Queen’s Club Championships in London. Williams, who won the last of her 23 Grand Slam singles titles in 2017 and has not competed since the 2022 U.S. Open, can officially enter tournaments after rejoining the tennis anti-doping testing pool last year. The 44-year-old said in August 2022 that she was “evolving away from tennis” and has not responded to Reuters requests for comment on her comeback, though she previously denied she was preparing to return to the sport she dominated for 20 years. Multiple British media reports on Thursday said Williams will team up with 19-year-old Canadian Mboko after requesting a wildcard for the doubles tournament at Queen’s Club. “Yeah, I’m very happy. Serena and I have stayed in touch, which is really nice, because I really look up to her. The fact that she even knows me is very exciting,” Mboko told reporters at the French Open, without confirming Serena’s comeback. “I feel like if she’s ready to come back on her own terms, then I feel like it’s up to her to announce that, but other than that, I don’t really have much to say. “I think the moment is all up to her, and when she’s ready to come back.” Reuters has sought comment from the organisers of the Queen’s event, which gets under way in London on June 8. Mboko, who won her Roland Garros second-round match against Katerina Siniakova late on Thursday, said she was in touch with Serena and delighted that the American followed her results on the women’s circuit. “She has texted me. I can’t really tell you the exact date. I don’t know. But it’s really cool that she follows the results. She knows who I am … I looked up to her. She’s my idol, it’s really cool,” Mboko added. “I remember watching her at the U.S. Open on TV and then seeing her in person … I feel like it was hard not to like her because she won everything. “She was such a great role model and such an inspiration to so many young girls out there.” [...]

Indian airline IndiGo posts quarterly loss on capacity curbs, declining Indian rupee

May 29, 2026 12:10

Copper slips after strong month as lack of news on Iran deal curbs upswing

May 29, 2026 12:04

Palm oil books a second straight weekly gain

May 29, 2026 11:59

Indian rupee soars to best day in nearly two months as central bank steps in, oil drops

May 29, 2026 11:34

Pakistan’s iTANZ eyes $45mn tech opportunities through China partnerships

May 29, 2026 11:23

Indian equity benchmarks log monthly losses on Iran war jitters

May 29, 2026 11:23

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The death of Nascar driver Kyle Busch is renewing the debate around indexed universal life insurance

May 29, 2026 1:30

If you’re looking for a “sure thing” in a retirement plan, indexed universal life is probably not the answer. [...]

My friend, 62, earns $20,000 a year. Should she take Social Security now — and claim survivor’s benefit at 67?

May 29, 2026 1:30

“I calculated her break-even point to be around age 78.” [...]

This strategist is using prediction-market shifts to calculate what happens when an Iran deal is announced

May 29, 2026 1:30

A Citadel strategist looked at prediction market changes during the Memorial Day long weekend to calculate market moves. [...]

The Iran war may be winding down, but the era of $60 oil could be over

May 29, 2026 1:24

The Iran war could soon draw to a close. Oil prices, however, may not roll back with it. [...]

Space stocks sink after a Blue Origin rocket explodes and SpaceX’s valuation gets a reality check

May 29, 2026 1:23

The red-hot space sector was feeling some heat on Friday, cooling from some of the spectacular gains seen in May. [...]

This overvalued stock market just flashed a rare buy signal

May 29, 2026 1:22

Market-timers ran for the exits at a near-unprecedented pace, giving contrarian-minded bulls an opportunity. [...]

These 7 stocks pack explosive ‘sawtooth’ earnings volatility next week

May 29, 2026 1:18

The S&P 500 is flashing a green light to investors. [...]

The latest Oura and Fitbit wearables are smarter and sleeker than ever — but do they keep you healthy?

May 29, 2026 1:15

Americans are sharing data from watches, bands and rings with AI platforms, ordering tests through the companies that sell these products, and paying hundreds of dollars in subscription fees. [...]

My golf buddy dropped me when I didn’t ask him to be my financial adviser. Was I naive?

May 29, 2026 1:00