economic · economic

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India spared worst of US ‘forced labour’ tariffs, but hard talks loom

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India has been spared the worst of Washington’s latest tariff action, but analysts say much work still needs to be done to secure a long-awaited US trade deal despite the lower-than-expected levy. The Trump administration’s fresh round of tariffs, unveiled last week, targeted 60 economies it accuses of failing to curb imports made with forced labour. As late as last month, India was being threatened with a 12.5 per cent rate, but ultimately earned a place among the 17 economies – including...

economic · economic

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Lower crude, firmer rupee and easing volatility drive sharp rebound in Indian equities

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Indian stocks and currency surged significantly on Monday after crude oil prices collapsed. The BSE Sensex and NSE Nifty both saw substantial gains, reflecting renewed investor confidence. The Indian rupee climbed against the US dollar, nearing its all-time low from the previous week. Lower crude oil prices are beneficial for India, easing inflation and current account pressures.

economic · economic

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Foreign capital inflows hit $32 billion as FCNR(B) deposits break 2013 record

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India has attracted nearly $32 billion in foreign capital since the RBI announced special inflow measures on June 5, Governor Sanjay Malhotra said. FCNR(B) deposits have already exceeded the 2013 record, but strong dollar demand linked to costly oil imports and weak exporter hedging continues to keep the rupee near record lows.

economic · economic

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Brazil turns to China trade deal after Trump’s tariffs, as years of resistance end

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Chinese President Xi Jinping and Brazilian President Luiz Inacio Lula da Silva agreed on Sunday night to accelerate negotiations for a trade agreement between China and Mercosur, a striking reversal for Brasilia, which for years led resistance to such a deal in the South American bloc. The two leaders spoke by telephone for more than an hour, according to a statement from the Brazilian presidency, and “coincided on the importance of speeding up the talks for a Mercosur-China agreement that...

economic · economic

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Malaysia’s 10% US tariff beats regional rivals, but for how long?

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Malaysia has won a small victory in Washington’s tariff wars, securing a 10 per cent rate that leaves it better placed than four of its Southeast Asian neighbours in the scramble for US orders. Economists warn the narrow advantage may prove fleeting, however, as it hinges on Kuala Lumpur fulfilling its promised trade reforms. The new duties, which fall under Section 301 of the US Trade Act and took effect on Friday, keep Malaysia in the lower tier of a new American tariff regime alongside...

economic · economic

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Singapore tightens monetary policy for second time in 3 months

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Singapore tightened monetary policy on Monday for the second time in three months, as the fallout from the US war against Iran keeps global energy markets volatile and inflation risks elevated. The Monetary Authority of Singapore (MAS) said it would increase the rate of appreciation of the local dollar’s trade-weighted value. The move comes as oil prices remain elevated owing to tensions in the Middle East, sparked by the US-Israel attacks on Iran that began on February 28, and continue to cast...

economic · economic

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Global Market Today: Oil falls, Asian stocks rise as Iran tensions ease

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Global markets saw oil prices fall and stocks rise as US and Iran paused retaliatory strikes. The dollar weakened against peers while Treasuries gained as inflation concerns receded. Traders now await Federal Reserve interest rate decisions and tech company earnings reports. Central banks globally will emphasize vigilance over higher energy prices impacting inflation. Singapore tightened monetary policy, strengthening its dollar against the US currency.

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