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Iranian FM says oil export restrictions waived, frozen assets released

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Textile exporter stocks witnessed a significant rally on Wednesday, boosted by positive initiation of coverage from Motilal Oswal Financial Services. The brokerage highlighted capacity expansion and supportive policies as key growth catalysts, projecting substantial gains for leading companies. This surge reflects a new investment cycle in the Indian textile sector, with companies focusing on higher-margin segments and value-added products to capitalize on global sourcing trends.

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Foreign investors offloaded shares worth a staggering ₹64,761 crore in the first half of June, the highest since March, driven by elevated oil prices. Financial services saw the largest outflows, followed by oil, gas, and consumable fuels. Automobile and IT sectors also experienced significant selling pressure, with concerns over oil prices and AI's impact on tech revenues cited as key reasons.

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Rubio says Gulf talks were 'frank' as US seeks regional backing US Secretary of State Marco Rubio has declined to reveal what concerns Gulf leaders raised during meetings on his regional tour, saying only that the discussions were candid and constructive. Speaking to reporters, Rubio said Washington had "very frank" conversations with its longstanding allies as it sought their views on the US-Iran agreement and wider regional issues. "That's what we're here to do, get their input," Rubio said. "I thought they were very frank, honest and important conversations, and I think we're very strongly aligned." Rubio is visiting Bahrain, Kuwait and the UAE, where discussions have centred on the memorandum of understanding with Iran and security in the Strait of Hormuz.

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Russia intends to ship record volumes of crude oil from its main western ports in June.

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China has detained two Japanese nationals over alleged attempts to take rare earth-related products out of the country. Japanese Chief Cabinet Secretary Minoru Kihara said on Wednesday that one of the two was detained by Chinese authorities on May 18 and the other a week later, accused of violating Chinese laws governing the import and export of restricted goods. Tokyo confirmed the detentions, without giving further details, citing privacy. One of the detainees is an employee of a Japanese...

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As European leaders convened at the European Council meeting in Brussels this month, the spectre of a full-blown trade war with China cast a long shadow over the proceedings. Amid ongoing anti-subsidy probes into Chinese green technology and the looming threat of retaliatory tariffs, the economic bedrock of the China-EU relationship appears increasingly fragile. Yet, beneath the hawkish political rhetoric, recent high-level meetings between European officials and their Chinese counterparts...

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A wave of power outages across Indonesia’s Java island has left millions of residents and business owners in the dark, igniting public fury and raising questions as to how the world’s largest coal exporter is failing to keep its own lights on. The answer, analysts say, lies less in a coal shortage than in the rules and incentives governing who gets to buy it, at what price and when. Hours-long blackouts since last week have disrupted the lives and businesses of millions of subscribers of...

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Hong Kong police have arrested 29 people in a crackdown on a loan-sharking and money‑laundering ring that charged victims annual interest rates as high as 3,000 per cent. Police said on Wednesday that the syndicate had set up a secret call centre in Tsuen Wan and posed as licensed finance companies, randomly phoning people in an attempt to lure them into borrowing money. In the process, they extracted personal information, including occupations, repayment ability and family background. Small...

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Beijing is sharpening the tools it uses to police rare earth and other strategic mineral exports, announcing fresh measures that will reward companies and individuals for reporting suspected violations. The announcement came on Wednesday, the same day Tokyo confirmed that two of its nationals had been detained in China over alleged attempts to smuggle rare earth-related goods out of the country. “Any organisation or individual has the right to report conduct suspected of violating relevant laws...

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A key road named after US President Donald Trump in India’s opposition-ruled tech hub of Hyderabad has drawn criticism from ‌Prime Minister Narendra Modi’s ruling party, which dismissed the move as “hypocrisy”. US-India ties have deteriorated during Trump’s second term, with Washington imposing high tariffs on Indian goods, punishing New Delhi for purchasing Russian oil, and engaging closely with India’s arch-rival Pakistan. The road in the capital of the southern state of Telangana, ruled by...

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Trades Union Congress has previously called for an indoor limit of 30C

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Price of world’s most actively traded digital asset falls below $60,000 amid shift by retail investors to AI-related stock bets

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Bitcoin’s slide back below $60,000 is reviving a fear that has largely been absent from crypto for the past two years: what happens when the market’s biggest buyer comes under pressure just as retail traders lose interest.

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Daryl Fairweather, Chief Economist at Redfin, discusses the bipartisan Road to Housing Act, which President Trump has opposed despite its passage by a veto-proof majority. The bill represents a significant federal effort to address the national housing supply shortage by tying federal funding to local governments' plans to increase housing supply and streamline zoning and permitting processes. She speaks with Romaine Bostick & Katie Greifeld on "The Close." (Source: Bloomberg)

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All of the biggest US banks cleared the Federal Reserve’s annual stress test, setting the stage for lenders to boost buybacks and dividends.

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Hedge funds’ growing exposure to Treasuries is primarily due to the revival of the cash-futures basis trade, according to the Federal Reserve.

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Asian consumers will be facing higher grocery bills for months thanks to costly packaging stemming from the Iran war, which created severe shortages of plastics needed to get food from farms to market.

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Philippine bonds are staging emerging Asia’s biggest rebound following an interim US-Iran deal, but market watchers warn that inflation risks and a hawkish central bank may cap the bounce.

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