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Oil prices to hit $150? How Indian stock markets may react as Iran war rages on

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Oil prices have surged past $100 per barrel amid escalating Iran–Israel tensions and fears of a prolonged closure of the Strait of Hormuz, a key global energy chokepoint. Analysts warn crude could climb to $150 if disruptions persist, raising inflation risks and pressuring Indian equities, which have already seen sharp declines amid foreign outflows, rupee weakness and energy supply concerns.

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Modi charisma key factor in BJP's bid to retain all 26 seats in Gujarat

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Gujarat's upcoming Lok Sabha elections are influenced by PM Narendra Modi's charisma, anti-incumbency, unemployment, inflation, education, healthcare challenges, and BJP's endeavor to secure all 26 seats. ​​Lok Sabha polls in Gujarat will be held in a single phase on May 7. Counting of votes will be held on June 4. Anti-incumbency, unemployment, inflation, education and healthcare facilities are some of the other important issues in the election, where the ruling BJP in Gujarat will attempt to retain all the 26 Lok Sabha seats it won in 2019.

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Why CEA Anantha Nageswaran says India is facing a ‘Live Balance of Payments Stress Test’

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India faces significant external sector challenges due to rising oil prices, foreign investor exits, and a weakening rupee. Chief Economic Advisor V. Anantha Nageswaran describes this as a "live balance of payments stress test," highlighting pressure on imports, currency stability, and foreign exchange flows. The situation is exacerbated by heavy oil import dependence and regional geopolitical tensions.

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India needs to raise R&D spending to 2 pc of GDP by 2035 to boost manufacturing: Report

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India's manufacturing growth is hampered by low R&D spending, currently at 0.6% of GDP, a report highlights. To boost its manufacturing share, India aims to increase R&D expenditure to 2% by 2035, requiring greater private sector involvement and stronger innovation ecosystems. This transition to innovation-driven manufacturing is crucial for long-term global competitiveness.

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‘100 is just a number...let rupee depreciate or reserves will bleed out’: 16th Finance Commission chief Arvind Panagariya’s advice to RBI

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Arvind Panagariya, Chairman of the 16th Finance Commission, advises the Reserve Bank of India to allow the Indian rupee to weaken. He believes aggressively defending the currency with foreign exchange reserves is a losing strategy. Panagariya suggests that letting the rupee depreciate is the correct response to rising oil prices and currency pressure.

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‘Smells like hell’: Chinese woman disappears owing rent, abandons pet dog in filthy flat

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When a property agent in China went to check a flat leased by a woman who had defaulted on two months’ rent, he discovered she had disappeared leaving the room filled with rubbish and an abandoned dog. A shocking video showing the one-bedroom flat in Nanning, southwestern Guangxi Zhuang autonomous region in a complete mess went viral after the agent, surnamed Tang, shared it on social media on May 22, the Guizhou TV reported. There was also an Alaskan malamute in the room, barking occasionally,...

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US key inflation gauge worsens, eroding Americans’ income and spending power

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A key inflation gauge accelerated in April to the highest level in three years, the latest sign that spiking gas prices and higher food costs are squeezing Americans’ finances. Inflation jumped to 3.8 per cent in April compared with a year ago, the Commerce Department said on Thursday, up from 3.5 per cent in March and the highest since May 2023. On a monthly basis, prices rose 0.4 per cent, down from the 0.7 per cent jump in March. The report showed that prices have risen for many items in...

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For a yuan in deeper markets, Fed ex-president cites dollar playbook amid risks, criticism

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China has a unique window to internationalise its currency by deepening domestic financial markets, according to a former senior US central bank official who pointed to the evolution of the US dollar and the euro for lessons to be gleaned. The comments from Charles Evans, former president of the Federal Reserve Bank of Chicago, provide a fresh perspective in the growing discussion over whether and how the world’s second-largest economy can transform the yuan into a global currency. Speaking on...

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