INDIA SAUDI ARABIA
British military says ship ablaze after being struck off the coast of Yemen in the Gulf of Aden
A Cameroon-flagged tanker, reportedly the Falcon, caught fire in the Gulf of Aden after being struck by an unknown projectile. The incident occurred approximately 210 kilometers east of Aden, with reports suggesting the crew was preparing to abandon the vessel. This attack follows a pattern of Houthi rebel assaults on shipping in the Red Sea corridor.
British military says ship ablaze after being struck off the coast of Yemen in the Gulf of Aden
A ship caught fire in the Gulf of Aden after a projectile strike. The vessel was a Cameroon-flagged tanker en route from Oman to Djibouti. Reports suggest the crew prepared to abandon ship. A search and rescue effort is underway. This incident occurs amid ongoing Houthi rebel attacks on shipping in the Red Sea corridor.
China top source of imports in H1 FY26; New Delhi's trade deficit with Beijing hits $54.4 billion
Mainland China led India's imports in the first half of FY26 with $62.89 billion, followed by the UAE. Despite a trade deficit increase with China, overall goods imports rose, indicating strong domestic demand and manufacturing activity. Electronics, machinery, and silver imports saw significant growth.
How India is playing its oil-buying game
India's foreign policy has prioritised national interest amid global shifts. Recent claims about stopping Russian oil imports were dismissed. India is diversifying oil sources, increasing purchases from the US. This strategic approach balances relationships with key energy partners, demonstrating a mature and confident foreign policy.
India's Russian oil import rebound in Oct after dip in previous quarter
India's crude oil imports from Russia rebounded in early October after a three-month decline, driven by renewed discounts and refinery demand for festive season. Despite US pressure, Russia remains India's top oil supplier due to economic and strategic ties, with refiners unlikely to cease imports without government directive.
Explained: India's Russian oil trade and options before it
US President Trump claimed India will halt Russian oil buys, but Indian refiners await government clarity. Russia remains India's top oil supplier, offering significant discounts. Abruptly stopping these imports is near impossible, with deliveries contracted months ahead. Refiners face economic and strategic trade-offs if Russian oil becomes inaccessible.
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B.R. Shetty: How Indian entrepreneur went from Padma Shri honouree to losing his $10 billion healthcare empire
B.R. Shetty built a vast healthcare and finance empire from scratch in the UAE. His ventures, including NMC Health and UAE Exchange, achieved global recognition. However, the empire faced a dramatic collapse in 2020 due to undisclosed debt and financial irregularities. Shetty is now involved in ongoing legal battles as his once-billion-dollar empire has largely dissolved.
Nestle India shares jump 5% as firm records double-digit sales growth; net profit falls 24% YoY
Nestlé India's shares surged 5% after the company reported double-digit growth in total and domestic sales for Q2FY26, reaching Rs 1,281. Despite a profit decline, strong volume-driven sales and international expansion, including new product launches, boosted investor confidence. The company also anticipates positive impacts from recent GST rate amendments.
Nestle India Q2 Results: Cons PAT declines 17% YoY to Rs 743 crore, but revenue rises 11%
Nestle India Q2 Results: Nestle India announced its Q2 FY26 financial results. The company's profit after tax saw a decline of 23.6% year-on-year. However, revenue from operations increased by 10.6%. Domestic sales reached a record high, driven by strong volume growth across key product categories. The company highlighted positive performance in e-commerce and export segments.
Fertiliser growth slows to 2–4% in FY26 as DAP imports hit by China curbs, says Crisil's Anand Kulkarni
India's fertiliser sector anticipates slower growth of 2-4% in FY26, a significant dip from last year's 9%. This moderation stems from constrained diammonium phosphate (DAP) imports, impacted by China's export restrictions and geopolitical tensions. While NPK fertiliser volumes are expected to rise, overall complex fertiliser expansion will be subdued, though a gradual recovery is foreseen.
Allies turned foes: How Taliban and Pakistan fell out
Tensions flare along the Durand Line as Pakistan and the Taliban engage in deadly border clashes, a stark reversal from their historical ties. Once Pakistan's strategic asset, the Taliban now asserts independence, refusing to curb the TTP and challenging Islamabad's influence. This rift signals a new era of confrontation with significant regional implications.
India, Saudi Arabia identify ready-made garment, technical textiles, man-made fibres as key areas for collaboration
India and Saudi Arabia are set to boost textile trade and production through collaboration. Key areas for partnership include ready-made garments, technical textiles, and man-made fibres, leveraging Saudi Arabia's petrochemical strengths and India's manufacturing capabilities. Discussions also focused on promoting sustainability in traditional sectors like handloom and carpets.
IMF ups Saudi Arabia's 2025 GDP growth forecast to 4% as oil output rises
The International Monetary Fund has brightened its 2025 economic outlook for Saudi Arabia, now pegging growth at 4 percent. This optimistic shift is attributed to the kingdom's quicker withdrawal from oil production restrictions than previously thought. Experts suggest this could catalyze economic vitality across the broader Middle East and Central Asia region.
IMF nudges up UK 2025 growth outlook, sees more inflation
The International Monetary Fund has slightly improved its growth outlook for Britain this year. However, it predicts the country will face the highest inflation among major advanced economies for both this year and next. British finance minister Rachel Reeves and Bank of England Governor Andrew Bailey are attending IMF meetings.
Afghanistan FM warns Pakistan from Indian soil 'Kabul has other options if peace talks collapse'
Afghanistan's Foreign Minister Amir Khan Muttaqi warned Pakistan of "other options" if peace talks fail, alleging "certain sections" in Islamabad aim to spoil bilateral ties. He asserted that the TTP is not in Afghanistan and stated that the recent border escalation was a response to Pakistani operations, which has now been paused.
Pakistan PM Shehbaz Sharif to visit Egypt to participate in Sharm El-Sheikh Peace Summit
Prime Minister Shehbaz Sharif will attend the Sharm El-Sheikh Peace Summit in Egypt to witness the signing of a Gaza peace agreement. Invited by Egyptian President El-Sisi and US President Trump, Sharif will be accompanied by senior ministers.
Saudi Arabia calls for 'self-restraint' as clashes erupt along Pak-Afghan border
Tensions flare along the Pakistan-Afghanistan border. Clashes erupted after Afghan forces allegedly fired on Pakistani posts. Pakistan retaliated, targeting Afghan positions. Afghanistan claims Pakistani air strikes preceded the fighting. Saudi Arabia urges both sides to exercise restraint and pursue dialogue. The situation remains tense as regional stability is a concern.
Dry fruits trade gets more crunch in festive splurge
India's dry fruit trade is experiencing a profitable festive season. Demand for almonds, cashews, and pistachios is high. Imports are increasing to meet this demand. Prices are rising as consumption peaks between August and December. Trade agreements are facilitating smoother imports. This trend is boosting the dry fruit market.
Air India Express launches direct flights from Bengaluru to Jeddah, Kuwait, Riyadh
Air India Express is launching direct flights from Bengaluru to Jeddah and Riyadh in Saudi Arabia, and Kuwait, starting October 26. These new routes aim to enhance connectivity for Indian expatriates, business travelers, and pilgrims, with attractive inaugural fares available. This expansion reinforces Bengaluru as a key hub for the airline.
Papa John's puts India on priority list with vegetarian fare, executives say
Papa John's is prioritizing India for global growth, relaunching with a majority-vegetarian menu tailored to local tastes. The U.S. pizza chain plans to open 650 stores nationwide over the next decade, aiming to capitalize on expected discretionary spending recovery. This strategic move marks a significant expansion effort for the company in a key international market.
Can Rubicon Research sustain its impressive growth while facing US market risks?
Rubicon Research plans to raise ₹500 crore through a fresh issue for debt repayment and acquisitions, alongside an ₹877.5 crore offer for sale. The pharmaceutical company reported strong revenue and profit growth with margin expansion, boasting a higher RoNW than peers. However, high revenue concentration in the US and from top customers presents a risk.
Indian companies scouting for rare earths to cut dependence on China: Piyush Goyal
India is actively seeking rare earth sources beyond China and developing domestic processing capabilities to mitigate future supply chain risks. Minister Piyush Goyal highlighted the nation's focus on boosting domestic manufacturing through PLI schemes and the National Manufacturing Mission to compete globally. India remains resilient amidst geopolitical turbulence, poised to be the fastest-growing economy.
IPO-bound NephroPlus scales operations to 500 clinics, across India, Nepal, Philippines, Uzbekistan
IPO-bound NephroCare Health Services on Wednesday said it has scaled its operations from one clinic in India in 2010 to 500 clinics, across India, Nepal, the Philippines and Uzbekistan, serving over 33,000 patients annually.
What is AIM-120 AMRAAM, the US advanced air-to-air missiles which may be received by Pakistan soon? Here's its capability, complete list of new buyers
What is AIM-120 AMRAAM, the US advanced air-to-air missiles? Pakistan may receive AIM-120 AMRAAM missiles under a $2.5 billion contract. These missiles are compatible with F-16 jets and are used by over 35 countries. Their deployment may enhance Pakistan's air defense and missile capabilities.
India to launch digital currency, says Piyush Goyal; discourages cryptocurrency "not backed by assets"
India is set to launch its own RBI-backed digital currency, aiming for simpler, faster, and traceable transactions while reducing paper use. Union Minister Piyush Goyal emphasized that the nation discourages cryptocurrencies lacking sovereign or asset backing, imposing heavy taxes on them due to inherent risks and lack of accountability.
Mann Fleet Partners files draft IPO papers with Sebi
Chauffeured car rental and mobility solutions provider Mann Fleet Partners Ltd on Monday said it has filed its draft papers with markets regulator Sebi to raise funds through an Initial Public Offering (IPO).
Russia to remain India’s top crude supplier as refiners lean on discounted barrels, analysts say
India's crude oil imports from Russia edged lower in September but still constituted over a third of its total purchases, underscoring Russia's persistent role despite US pressure. Russian barrels remain economical for Indian refiners due to discounts, ensuring their continued centrality in India's fuel supply chain. While India diversifies, it is unlikely to abandon Russian supplies soon.
If more nations join Saudi-Pakistan defence pact, it will become NATO-like alliance: Ishaq Dar
Pakistan's Deputy Prime Minister Ishaq Dar claimed numerous countries are interested in joining a defense pact with Islamabad, suggesting it could evolve into a "NATO-like alliance." This follows a mutual defense agreement signed with Saudi Arabia, which stipulates aggression against one nation is considered an attack on both. Dar expressed confidence in Pakistan's future leadership of the Islamic world.
India looks for first US LPG cargoes as trade war diverts flows
India plans to secure its first long-term liquefied petroleum gas supplies from the United States. State-owned oil companies aim to buy three very-large gas carriers monthly from 2026. This move comes as US-China trade tensions disrupt global LPG flows. India seeks to lower US tariffs on its goods.
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