{"id":89505,"date":"2026-05-11T00:00:00","date_gmt":"2026-05-11T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/mena-india\/?post_type=issue&#038;p=89505"},"modified":"2026-05-11T11:38:00","modified_gmt":"2026-05-11T11:38:00","slug":"india-signals-belt-tightening-as-oil-shock-bites","status":"publish","type":"issue","link":"https:\/\/enterpriseam.com\/mena-india\/issues\/india-signals-belt-tightening-as-oil-shock-bites\/","title":{"rendered":"India signals belt-tightening as oil shock bites"},"content":{"rendered":"<section id=\"89507\" class=\"issue-section \">\n<div class=\"issue-section__content\">\n<div class=\"stories\">            <!-- Show divider before story section -->\r\n        <div \r\n            class=\"\r\n                story-section            \"\r\n            id=\"89507\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">1<\/div>\r\n\r\n                    <p class=\"f-graphik\">WHAT WE\u2019RE TRACKING TODAY<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/mena-india\/2026\/05\/11\/this-afternoon-uae-managed-lpg-tanker-sails-hormuz\/\">\r\n                            THIS AFTERNOON: UAE-managed LPG tanker sails Hormuz                        <\/a>\r\n                    <\/h3>\r\n\r\n                    \r\n\t\t\t\t\t\n<div class=\"cta\">\n    <div class=\"cta__btn share-dropdown-cta dropdown-toggle-btn\" style=\"position:relative\">\n        <img decoding=\"async\" src=\"https:\/\/ent.news\/internal\/408834.svg\" alt=\"\">\n        Share Story\n        <!-- Dropdown Menu -->\n        <ul class=\"share-menu\">\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/enterpriseam.com\/mena-india\/2026\/05\/11\/this-afternoon-uae-managed-lpg-tanker-sails-hormuz\/\" target=\"_blank\">\n                    Open in new tab                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/new-tab.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"#\" target=\"_blank\" onclick=\"event.preventDefault(); 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Brent at USD 106, the INR at a record-low 95.17, Trump rejecting Iran's latest peace proposal on Sunday over Hormuz. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>SBI is also quietly closing the window on new Gulf lending<\/strong> until there's \u201csome clarity,\u201d with PNB doing the same. Our read: the country's largest state-owned lender has paused new GCC business, full stop. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Reliance has restructured the Jio IPO <\/strong>as a fresh-share issue, pulling the partial exit ADIA, Mubadala, and PIF had been planning around.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">\n<hr style=\"height:2px;border-width:0;color:gray;background-color:gray\">\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><a href=\"https:\/\/sub.ent.news\/menaplus\/\" target=\"_blank\"><img data-recalc-dims=\"1\" decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2026\/5\/463.gif?ssl=1\"\/><\/a> <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Riyadh<\/strong><strong> to Mumbai. Abu Dhabi to Singapore. Dubai to London. Cairo to Shenzhen.<\/strong><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The most important business stories in MENA aren\u2019t happening inside MENA anymore<\/strong> \u2014 they\u2019re happening at the edges, where regional capital meets global ambition.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>EnterpriseAM MENA+ is our new flagship newsletter<\/strong>, built to cover the flows of capital, people, and ideas across the Middle East \u2014 and beyond it. AI, geopolitics, the war for talent, sovereign wealth strategy, the changing energy economy, and the new corridors reshaping global trade.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong><a target=\"_blank\" href=\"https:\/\/sub.ent.news\/menaplus\/\" style=\"\">Tap or click here to get your own copy<\/a><\/strong> delivered to your inbox every Monday, Wednesday, and Friday at 12pm UAE | 11am KSA | 11am Egypt.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">\n<hr style=\"height:2px;border-width:0;color:gray;background-color:gray\">\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">\n<p class=\"tag-border-left\">The Hormuz workaround<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong><a id=\"wwtt1\"><\/a>  A UAE-managed LPG carrier with a track record of moving Iranian <\/strong><strong>cargo is <\/strong><strong>sailing through the Strait of Hormuz under Indian colors.<\/strong> Tara Gas \u2014 owned by UAE-based Global Gas Inc. and managed by Dubai-based Matrix Maritime \u2014 is broadcasting Indian ownership and crew as it transits the strait, according to ship-tracking data, cited in <a target=\"_blank\" href=\"https:\/\/www.bloomberg.com\/news\/articles\/2026-05-11\/iran-linked-lpg-tanker-signals-indian-ownership-through-hormuz?srnd=phx-india-v2\" style=\"\">Bloomberg<\/a>. The vessel has previously carried Iranian LPG, including a shipment to China earlier this year.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Why it matters: <\/strong>India\u2019s neutrality is being repriced as a commercial asset. With the US Navy having redirected dozens of vessels since its Hormuz blockade began in mid-April, ship managers are looking for diplomatic cover that neither Tehran nor Washington will want to pierce. Indian ownership and Indian crews are the most credible shield available \u2014 New Delhi has stayed studiously neutral amid the US-Iran war, and India is the Gulf\u2019s largest Asian crude customer. If that posture works as a commercial hedge, it gets reused fast.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The routing tells you it\u2019s deliberate. <\/strong>Tara Gas was moving northeast from waters off Dubai past Iran's Larak Island, a track consistent with a Tehran-approved corridor. Draft readings show the vessel fully laden, though the origin of the cargo isn't clear. The first test is whether it clears the strait. The harder test is the US Navy's Central Command in the Gulf of Oman.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>What's next:<\/strong> If Tara Gas makes it past the Gulf of Oman without being turned back, expect Gulf-based ship managers to start re-flagging vessels and swapping in Indian crews quickly. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">\n<p class=\"tag-border-left\">Faltering tailwinds<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong><a id=\"wwtt2\"><\/a>  Indian aviation and travel stocks took a double hit on Monday<\/strong> \u2014 crude back near USD 105 \/ bbl driving up airline fuel costs, and Modi's appeal asking Indians to defer overseas travel for a year hitting the demand side. <\/p>\n<p>^^ We have more on Modi\u2019s appeal below in our Big Story Today<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">InterGlobe Aviation, the listed operator of IndiGo, fell more than 4% intraday to INR 4,321.05; SpiceJet dropped over 4% to INR 13.41. The selloff extended to the booking platforms, with ixigo, Yatra Online, Thomas Cook India and Easy Trip Planners off by up to 7%, <a target=\"_blank\" href=\"https:\/\/economictimes.indiatimes.com\/markets\/stocks\/news\/indigo-spicejet-other-travel-stocks-plunge-up-to-7-two-big-reasons-why\/articleshow\/131004682.cms\" style=\"\">Economic Times<\/a> reports.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The MENA-India corridor is in the splash zone on both sides. <\/strong>The UAE alone is consistently one of the top three destinations for Indian outbound travel, and Gulf destinations sit at the centre of India\u2019s outbound leisure and visiting-family-and-relatives traffic. If demand softens for a year, route economics on Gulf-India lanes go with it. And the same fuel shock that's pressuring Indian carriers is pressuring Gulf carriers flying the corridor in the other direction. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The margin math is brutal. <\/strong>Aviation turbine fuel is 30-40% of Indian airlines' operating expenses, so even a contained crude move bleeds straight into margins. The INR at a record low adds a second layer \u2014 fuel payments and aircraft lease liabilities are largely USD-denominated, so a weaker INR compounds the same shock twice.<\/p>\n\n<p class=\"tag-border-left\"> The smartphone hedge<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><a id=\"wwtt3\"><\/a>  <strong>Smartphones have overtaken diesel, gems and textiles as India's single largest export commodity \u2014 and the UAE is the corridor's main beneficiary.<\/strong> India's total electronics hardware exports hit USD 48.2 bn in 2025, according to comments by IT Minister Ashwini Vaishnaw picked up by <a target=\"_blank\" href=\"https:\/\/www.thehindubusinessline.com\/economy\/electronics-exports-among-top-3-items-from-india-to-grow-more-in-future-vaishnaw\/article70964697.ece\" style=\"\">Hindu Businessline<\/a>. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Why it matters:<\/strong> The UAE was the <a target=\"_blank\" href=\"https:\/\/economictimes.indiatimes.com\/news\/economy\/foreign-trade\/smartphones-emerge-as-indias-export-champions-in-fy26\/articleshow\/130450109.cms?from=mdr#:~:text=Smartphones%20were%20joined%20by%20printed,Made%20in%20India%20electronics%20items.\" style=\"\">second-biggest destination<\/a> for Indian smartphones, with India exporting <a target=\"_blank\" href=\"https:\/\/www.moneycontrol.com\/news\/business\/apple-redraws-supply-chain-shifts-india-made-iphones-away-from-uae-hub-amid-gulf-tensions-13863892.html\" style=\"\">USD 4.2 bn<\/a> worth of smartphones to the UAE alone in 2025. Dubai also serves as a re-export hub into Africa and Central Asia, which means India's electronics push is reaching markets it doesn't sell into directly. India\u2019s electronics components industry body <a target=\"_blank\" href=\"https:\/\/manufacturing.economictimes.indiatimes.com\/news\/industry\/military-conflict-in-middle-east-to-hit-electronics-export-from-india\/128965699https:\/\/manufacturing.economictimes.indiatimes.com\/news\/industry\/military-conflict-in-middle-east-to-hit-electronics-export-from-india\/128965699\" style=\"\">warned<\/a> that annual exports worth over 4 bn could be hit by the war, as the UAE, Saudi Arabia and Israel remain key markets.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Vaishnaw\u2019s pitch is that India offers an alternative to Vietnam and China for global electronics buyers. <\/strong>Apple's India production share has risen sharply and Saudi Arabia\u2019s <a target=\"_blank\" href=\"https:\/\/www.eoiriyadh.gov.in\/page\/https-www-eoiriyadh-gov-in-page-india-saudi-arabia-economic-and-commercial-brief\/\" style=\"\">manufacturing push<\/a> is expected to draw on Indian component suppliers. The caveat? Much of India's smartphone export value still depends on upstream Chinese and Korean inputs, so the hedge is partial rather than clean.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>What's next:<\/strong> India is bringing additional semiconductor capacity online by end-2026, and the government is <a target=\"_blank\" href=\"https:\/\/www.thehindubusinessline.com\/economy\/electronics-exports-among-top-3-items-from-india-to-grow-more-in-future-vaishnaw\/article70964697.ece\" style=\"\">positioning a micro-LED display push<\/a> as the next bet. Whether either gets to commercial scale on the announced timelines is the open question. For the corridor, the nearer-term signal to watch is whether Saudi's manufacturing localisation programmes start drawing on Indian component suppliers in 2026 contracts.<\/p>\n<div class=\"row\">\n<div class=\"col-md-12 subscribe-box-panel\">\n<div class=\"\">\n<div class=\"title\">\n<h4 class=\"fw-lighter mb-10\">   Get <b style=\"font-weight: 700\">Enterprise<\/b> daily   <\/h4>\n<\/p><\/div>\n<p class=\"mb-10\">The roundup of news and trends that move your markets and shape corporate agendas delivered straight to your inbox.<\/p>\n<p>  <a target=\"_blank\" href=\"\/egypt\/en\/user\/NewsLetters\" type=\"button \" class=\"btn-green px-3 d-flex align-items-center\">Subscribe here<\/a>  <\/div>\n<\/p><\/div>\n<\/p><\/div>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">***<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>YOU\u2019RE READING EnterpriseAM MENA - India, your C-suite briefing<\/strong> on the movement of trade, investment, people, and ideas along one of the world\u2019s most exciting corridors. Every Monday, Wednesday, and Friday at 2:30pm UAE, we dive deep into the business, finance, economy, and policy headlines and trendlines that will move markets and set the tone for your day. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Were you forwarded this briefing? <\/strong><a target=\"_blank\" href=\"https:\/\/enterpriseam.com\/mena-india\/newsletters\/\" style=\"\">Tap or click here to sign up without charge for your own<\/a><a target=\"_blank\" href=\"https:\/\/enterpriseam.com\/mena-india\/newsletters\/\" style=\"\">copy<\/a>.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">***<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">\n<p class=\"tag-border-left\"> Circle your calendar<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Check out our full calendar on the web<\/strong> for a comprehensive listing of upcoming news events, national holidays, and news triggers.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">\n<p class=\"tag-border-left\"> The big story abroad<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The US-Iran stalemate crowds the front pages once again. <\/strong>President Donald Trump <a target=\"_blank\" href=\"https:\/\/www.wsj.com\/livecoverage\/iran-war-trump-news\/card\/iran-s-lengthy-response-to-the-u-s-leaves-some-gaps-jVJkux8wKbRUWK9EOOp9\" style=\"\">dismissed<\/a> Iran\u2019s response to Washington\u2019s latest proposal, calling the demands \u201ctotally unacceptable.\u201d Tehran reportedly floated moving a portion of its highly enriched uranium reserves to a separate nation and refused to decommission its nuclear infrastructure \u2014 this account was later denied by Iran\u2019s semi-official outlet Tasnim.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Pakistan-Iran talks seem to have made some headway<\/strong>, with Qatar managing to <a target=\"_blank\" href=\"https:\/\/www.ft.com\/content\/2b2a9375-829c-4b4a-af98-c5e1e963c493?syn-25a6b1a6=1\" style=\"\">export its<\/a><a target=\"_blank\" href=\"https:\/\/www.ft.com\/content\/2b2a9375-829c-4b4a-af98-c5e1e963c493?syn-25a6b1a6=1\" style=\"\">first LNG cargo<\/a> \u2014 bound for a Pakistani port \u2014 through the Strait of Hormuz since the conflict started. Islamabad reportedly expects three more vessels to ship Qatari LNG through the waterway in the coming days.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The regional conflict <\/strong><strong><a target=\"_blank\" href=\"https:\/\/www.wsj.com\/world\/trump-xi-meeting-iran-war-409c4ea1?mod=hp_lead_pos2\" style=\"\">is set to dominate<\/a><\/strong><strong> the agenda during Trump\u2019s summit with Chinese <\/strong><strong>President Xi Jinping in Beijing later this week. <\/strong>Both leaders have good reasons to resolve the Iran war, as it is taxing Trump\u2019s domestic popularity and straining Beijing\u2019s reliance on low-cost Iranian oil. Washington\u2019s worries over AI and a proposed new dialogue with China are also reportedly <a target=\"_blank\" href=\"https:\/\/www.bloomberg.com\/news\/articles\/2026-05-10\/trump-aims-to-press-xi-over-china-s-approach-to-conflict-in-iran\" style=\"\">on the table<\/a>.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Meanwhile, in the world of AI: <\/strong>Alphabet <a target=\"_blank\" href=\"https:\/\/www.bloomberg.com\/news\/articles\/2026-05-10\/ai-wins-have-alphabet-poised-to-become-world-s-biggest-company?srnd=homepage-middle-east\" style=\"\">has rapidly evolved<\/a> into an AI powerhouse, significantly narrowing the valuation gap with chipmaking giant Nvidia. Analysts suggest that the strength of the Gemini model, combined with Google Search, Cloud, YouTube, and Waymo, positions the company as the primary contender to lead the next era of tech growth.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>In a <\/strong><strong><a target=\"_blank\" href=\"https:\/\/www.bloomberg.com\/features\/2026-jerome-powell-fed-legacy\/?srnd=homepage-middle-east\" style=\"\">retrospective piece<\/a><\/strong><strong> on the outgoing Federal Reserve Chair<\/strong>, Bloomberg chronicles Jerome Powell\u2019s long battle to maintain the institution\u2019s independence. Powell\u2019s term saw heavy criticism from Trump, a probe from the Justice Department, and an unusual decision to stay on after his successor stepped up to assume the mantle.<\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/mena-india\/tag\/aviation\/\">AVIATION<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/mena-india\/tag\/crude\/\">Crude<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/mena-india\/tag\/energy-security\/\">Energy Security<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/mena-india\/tag\/india-uae-corridor\/\">India-UAE Corridor<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/mena-india\/tag\/manufacturing\/\">Manufacturing<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/mena-india\/tag\/shipping\/\">Shipping<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/mena-india\/tag\/what-were-tracking-today\/\">WHAT WE\u2019RE TRACKING TODAY<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"89509\" class=\"issue-section \">\n<div class=\"issue-section__content\">\n<div class=\"stories\">            <!-- Show divider before story section -->\r\n        <div \r\n            class=\"\r\n                story-section            \"\r\n            id=\"89509\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">2<\/div>\r\n\r\n                    <p class=\"f-graphik\">THE BIG STORY TODAY<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/mena-india\/2026\/05\/11\/india-is-publicly-saying-it-can-no-longer-absorb-the-crude-hike\/\">\r\n                            Modi's ration call                        <\/a>\r\n                    <\/h3>\r\n\r\n                    \r\n\t\t\t\t\t\n<div class=\"cta\">\n    <div class=\"cta__btn share-dropdown-cta dropdown-toggle-btn\" style=\"position:relative\">\n        <img decoding=\"async\" src=\"https:\/\/ent.news\/internal\/408834.svg\" alt=\"\">\n        Share Story\n        <!-- Dropdown Menu -->\n        <ul class=\"share-menu\">\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/enterpriseam.com\/mena-india\/2026\/05\/11\/india-is-publicly-saying-it-can-no-longer-absorb-the-crude-hike\/\" target=\"_blank\">\n                    Open in new tab                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/new-tab.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"#\" target=\"_blank\" onclick=\"event.preventDefault(); 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With Brent at USD 106 \/ bbl, the INR at a <a target=\"_blank\" href=\"https:\/\/www.moneycontrol.com\/news\/currency\/rupee-weakens-to-record-low-of-95-17-vs-usd-after-modi-s-fuel-saving-appeal-crude-oil-surge-13914851.html\" style=\"\">record low<\/a> of 95.17, and US President Donald Trump <a target=\"_blank\" href=\"https:\/\/enterpriseam.com\/egypt\/2026\/05\/11\/travco-targets-4q-launch-for-new-private-airline\/\" style=\"\">rejecting Iran's latest peace proposal<\/a> on Sunday over Hormuz, Prime Minister Narendra Modi's message yesterday was blunt. \u201cIn the current situation, we must place great emphasis on saving foreign exchange,\u201d he said (<a target=\"_blank\" href=\"https:\/\/www.youtube.com\/watch?v=CVcjdrtBHJ4\" style=\"\">watch, run time: 19:00<\/a>).<\/p>\n\n<p class=\"tag-border-left\">Why it matters<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The Gulf's biggest Asian customer is engineering its own demand destruction.<\/strong> For producers like Saudi Aramco and Abu Dhabi National Oil Company, this complicates volume planning and erodes pricing power on term contracts with Indian refiners. And Modi's specific call to defer gold purchases for a year cuts directly through Dubai's bullion ecosystem \u2014 the conduit for India's diaspora and wedding-linked gold demand and India's second-largest <a target=\"_blank\" href=\"https:\/\/www.bloomberg.com\/news\/articles\/2026-05-11\/modi-asks-indians-to-stop-buying-gold-hitting-jewelry-stocks?srnd=phx-india-v2\" style=\"\">import<\/a> after oil. A sustained pullback hits the emirate's trading volumes and margins on top of cooling energy demand.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The asks: <\/strong>Cut fuel use, avoid gold, curb non-essential imports, work from home, switch to public transport, eat less cooking oil, defer overseas travel, and \u2014 most strikingly \u2014 farmers to cut fertilizer use by up to half. \u201cToday, the demands of the times are such that if we restart these systems, it will be in the national interest,\u201d Modi <a target=\"_blank\" href=\"https:\/\/www.moneycontrol.com\/news\/india\/restart-work-from-home-pm-modi-urges-revival-of-covid-era-work-culture-as-west-asia-conflict-hits-global-economy-13914312.html\" style=\"\">said<\/a>.<\/p>\n<p class=\"tag-border-left\">Markets read it the way Modi intended <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The INR slid 0.75% intraday to its record low before the Reserve Bank of India (RBI) <\/strong><strong><a target=\"_blank\" href=\"https:\/\/www.reuters.com\/world\/india\/rupee-set-weaken-oil-jump-modi-calls-fuel-conservation-2026-05-11\/\" style=\"\">reportedly<\/a><\/strong><strong> intervened<\/strong>, with state-run lenders selling USD to stem losses. The Nifty 50 dropped over 1%. Defence Minister Rajnath Singh chaired an informal <a target=\"_blank\" href=\"https:\/\/www.aninews.in\/news\/national\/politics\/defence-minister-rajnath-singh-chairs-informal-group-meeting-on-evolving-west-asia-situation20260511121039\/\" style=\"\">ministers' group<\/a> today to review energy security, trade exposure, and market volatility \u2014 the kind of meeting governments hold when they're preparing for something.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Stockpiles are the under-reported pressure point. <\/strong>Global oil inventories drew down by 4.8 mn bbl \/ d between 1 March and 25 April \u2014 well beyond historical norms, per Morgan Stanley estimates cited by <a target=\"_blank\" href=\"https:\/\/www.bloomberg.com\/news\/articles\/2026-05-09\/iran-war-is-draining-world-s-oil-buffer-at-unprecedented-pace?srnd=phx-india-v2\" style=\"\">Bloomberg<\/a>. India\u2019s own oil inventories are at a 10-year seasonal low, down roughly 10% since the war began. The Petroleum Ministry <a target=\"_blank\" href=\"https:\/\/www.pib.gov.in\/PressReleasePage.aspx?PRID=2259146&reg=3&lang=1\" style=\"\">insists<\/a> refiners hold enough crude, yet state-run refiners say a meaningful share has already been burned.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The <\/strong><strong><a target=\"_blank\" href=\"https:\/\/enterpriseam.com\/mena-india\/2026\/05\/01\/this-afternoon-enbd-nears-rbl-takeover-after-sebi-nod-india-plans-to-add-62-vessels-to-its-commercial-fleet\/\" style=\"\">fuel-price freeze<\/a><\/strong><strong> is the bill no one wants to pay.<\/strong> State-run refiners \u2014 Indian Oil, BPCL, and HPCL \u2014 are absorbing <a target=\"_blank\" href=\"https:\/\/economictimes.indiatimes.com\/industry\/energy\/oil-gas\/rs-1600-1700-cr-a-day-rs-1-lakh-cr-in-10-weeks-cost-of-insulating-india-from-global-energy-shock\/articleshow\/130989725.cms\" style=\"\">losses<\/a> of up to INR 1.7 bn (USD 20 mn) per day, with total losses past INR 1 tn (USD 12 bn) over 10 weeks. Government duty cuts of about INR 14 bn (USD 170 mn) a month have softened the impact, but with global peers raising prices, a pass-through to consumers looks less like an if and more like a when.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The trade-off is brutal. <\/strong>Pass prices through and inflation spikes, potentially dampening remittance-linked consumption across the Gulf corridor. Hold the line and the INR keeps absorbing the shock, repricing every non-oil import from the Gulf \u2014 petrochemicals, plastics, fertilizers \u2014 and pushing refiners toward cheaper Russian crude or domestic alternatives.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">\n<p class=\"tag-border-left\">What's next<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>RBI FX reserve data on Friday will show how hard the central bank has been defending the currency.<\/strong> Watch for sourcing shifts at Reliance, Indian Oil, and BPCL, as well as for any signal on pump prices. The ministerial cadence is its own tell \u2014 more meetings, more pressure.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>SOUND SMART- <\/strong>The structural deadlock is unchanged. Until Iran drops its demand for sovereignty over the Strait of Hormuz \u2014 or Washington moves on it, which looks unlikely \u2014 there is no path to a durable agreement and no sustained relief for oil markets.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>(** <\/strong><strong>Tap<\/strong><strong> or click the headline above to read this story with all of the links <\/strong>to our background as well as external sources.) <\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/mena-india\/tag\/india-focus\/\">India Focus<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/mena-india\/tag\/india-gcc-corridor\/\">India-GCC Corridor<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/mena-india\/tag\/rbi\/\">RBI<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/mena-india\/tag\/the-big-story-today\/\">THE BIG STORY TODAY<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"89511\" class=\"issue-section \">\n<div class=\"issue-section__content\">\n<div class=\"stories\">            <!-- Show divider before story section -->\r\n        <div \r\n            class=\"\r\n                story-section            \"\r\n            id=\"89511\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">3<\/div>\r\n\r\n                    <p class=\"f-graphik\">BANKING<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/mena-india\/2026\/05\/11\/sbi-pauses-new-gulf-lending-as-iran-crisis-drags-on\/\">\r\n                            SBI taps the brakes                        <\/a>\r\n                    <\/h3>\r\n\r\n                    \r\n\t\t\t\t\t\n<div class=\"cta\">\n    <div class=\"cta__btn share-dropdown-cta dropdown-toggle-btn\" style=\"position:relative\">\n        <img decoding=\"async\" src=\"https:\/\/ent.news\/internal\/408834.svg\" alt=\"\">\n        Share Story\n        <!-- Dropdown Menu -->\n        <ul class=\"share-menu\">\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/enterpriseam.com\/mena-india\/2026\/05\/11\/sbi-pauses-new-gulf-lending-as-iran-crisis-drags-on\/\" target=\"_blank\">\n                    Open in new tab                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/new-tab.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"#\" target=\"_blank\" onclick=\"event.preventDefault(); 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State Bank of India (SBI) Chairman CS Setty said the lender will take no new GCC business \u201cuntil we get some clarity on the situation,\u201d while continuing to run its existing book. Punjab National Bank (PNB) is doing the same.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Why does it matter? The corridor is tilting. <\/strong>Gulf sovereign capital is <a target=\"_blank\" href=\"https:\/\/www.reuters.com\/world\/middle-east\/some-gulf-states-reviewing-sovereign-investments-offset-economic-shock-iran-war-2026-03-11\/\" style=\"\">still flowing aggressively into Indian assets<\/a>, with the UAE\u2019s Abu Dhabi Investment Authority and Mubadala Investment and Saudi Arabia\u2019s Public Investment Fund continuing to anchor the region's global investment strategy. Indian bank capital going the other way is not. The Iran crisis is widening that asymmetry \u2014 Gulf-to-India remains a green light, while India-to-Gulf is now at risk.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>How exposed is SBI? <\/strong>Its overseas loan book is INR 7.42 tn \u2014 about 15% of its INR 49.32 tn asset base. The UAE and Bahrain together account for 14% of overseas loans, well behind the US (26%) and the UK (18%). Not enough to break the bank if the conflict drags on \u2014 but enough to be worth protecting.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>PNB is in the same posture and has moved officials from Dubai back to India as part of business-continuity planning. <\/strong>The lender runs its Gulf book through the Dubai International Finance Center and handles international business from its Gift City branch in Gujarat. Indian Overseas Bank, which has no Middle East operations, says it's not directly affected but is seeing some overseas business slowdown.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The macro question is the more interesting one. <\/strong>SBI Research's own <a target=\"_blank\" href=\"https:\/\/ent.news\/2026\/5\/536.pdf\" style=\"\">numbers (pdf)<\/a> say every USD 10 \/ bbl increase in crude widens India\u2019s current account deficit by 30-35 bps, lifts inflation by 35-40 bps, and cuts GDP growth by 20-25 bps. That\u2019s the channel that matters \u2014 not the direct loan-book hit. India\u2019s domestic economy is still doing the heavy lifting, with real GDP growth projected at around 7.2% in 4Q FY 2026 and 7.5% for the full year, before moderating to 6.6% in FY 2027 as geopolitical risk feeds through.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>What's next: <\/strong>Setty flagged that a conflict could last five to six months and would start weighing on domestic macro conditions. SBI has not flagged any immediate asset-quality impact on its existing Gulf book.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>(** Tap or click the headline above to read this story with all of the links <\/strong>to our background as well as external sources.) <\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/mena-india\/tag\/banking\/\">BANKING<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/mena-india\/tag\/finance\/\">Finance<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/mena-india\/tag\/india-gcc-corridor\/\">India-GCC Corridor<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"89513\" class=\"issue-section \">\n<div class=\"issue-section__content\">\n<div class=\"stories\">            <!-- Show divider before story section -->\r\n        <div \r\n            class=\"\r\n                story-section            \"\r\n            id=\"89513\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">4<\/div>\r\n\r\n                    <p class=\"f-graphik\">IPO WATCH<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/mena-india\/2026\/05\/11\/jio-ipo-restructures-as-a-fresh-issue-closing-the-exit-window-for-gulf-swfs\/\">\r\n                            Locked in                        <\/a>\r\n                    <\/h3>\r\n\r\n                    \r\n\t\t\t\t\t\n<div class=\"cta\">\n    <div class=\"cta__btn share-dropdown-cta dropdown-toggle-btn\" style=\"position:relative\">\n        <img decoding=\"async\" src=\"https:\/\/ent.news\/internal\/408834.svg\" alt=\"\">\n        Share Story\n        <!-- Dropdown Menu -->\n        <ul class=\"share-menu\">\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/enterpriseam.com\/mena-india\/2026\/05\/11\/jio-ipo-restructures-as-a-fresh-issue-closing-the-exit-window-for-gulf-swfs\/\" target=\"_blank\">\n                    Open in new tab                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/new-tab.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"#\" target=\"_blank\" onclick=\"event.preventDefault(); 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That removes the partial liquidity window that UAE\u2019s Abu Dhabi Investment Authority (ADIA), UAE\u2019s Mubadala Investment and Saudi\u2019s Public Investment Fund (PIF) had expected to use.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Why it matters: <\/strong>The structure flip lands just as the US-Israel war on Iran has delayed Jio's draft prospectus filing and chilled appetite for new listings. Investors who'd lined up a near-term monetization route through India's public markets now have to wait \u2014 because a regional geopolitical shock the Gulf is sitting at the centre of has made that route harder to use. Jio is now a longer-term India hold for ADIA (which put in around USD 750 mn), Mubadala and PIF (around USD 1.5 bn), not a near-term liquidity event.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>What changed: <\/strong>The earlier OFS structure would have let foreign investors collectively sell around 2.5% of Jio (roughly 8% of each holding). The new fresh issue is also around 2.5% \u2014 but the proceeds go to the company. Reuters cited one source as saying investors wanted to stay invested long-term anyway; the revised structure also conveniently removes the sell-down route that had been on the table.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Do the math: <\/strong>Jefferies valued Jio at around USD 180 bn in November. A 2.5% fresh issue at that valuation implies a raise of about USD 4.5 bn \u2014 above earlier expectations of up to USD 4 bn. Any pressure on the listing valuation, though, marks down Gulf investors' existing Jio exposure on the way in.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The wider cap table? <\/strong>Jio is backed by <a target=\"_blank\" href=\"https:\/\/economictimes.indiatimes.com\/industry\/telecom\/telecom-news\/ambanis-reliance-jio-businesses-and-investors-of-the-ipo-bound-firm\/articleshow\/131007520.cms?from=mdr\" style=\"\">Meta, Google, Vista Equity Partners, KKR, General Atlantic and Silver Lake<\/a>. None of them get an exit either.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>GO DEEPER-<\/strong> Jio is separately building out a LEO satellite business with Middle East demand in view \u2014 relevant to how Gulf investors think about the long hold they're now committed to.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>What's next: <\/strong>Jio is expected to file its draft prospectus within the next week or two, potentially pushing the listing to July, according to the <a target=\"_blank\" href=\"https:\/\/economictimes.indiatimes.com\/industry\/telecom\/telecom-news\/ambanis-reliance-jio-businesses-and-investors-of-the-ipo-bound-firm\/articleshow\/131007520.cms?from=mdr\" style=\"\">Economic Times<\/a>. It has hired 17 banks including Kotak Mahindra Capital, Morgan Stanley, JM Financial, Goldman Sachs, HSBC, Bank of America and Citigroup. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>(** <\/strong><strong>Tap<\/strong><strong> or click the headline above to read this story with all of the links <\/strong>to our background as well as external sources.) <\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/mena-india\/tag\/ipo-watch\/\">IPO WATCH<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/mena-india\/tag\/jio-platforms\/\">Jio Platforms<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/mena-india\/tag\/reliance-industries\/\">Reliance Industries<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"89515\" class=\"issue-section \">\n<div class=\"issue-section__content\">\n<div class=\"stories\">            <!-- Show divider before story section -->\r\n        <div \r\n            class=\"\r\n                story-section            \"\r\n            id=\"89515\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">5<\/div>\r\n\r\n                    <p class=\"f-graphik\">ALSO ON OUR RADAR<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/mena-india\/2026\/05\/11\/adani-pushes-domestic-ai-infrastructure-buildout\/\">\r\n                            Adani makes the AI-sovereignty pitch                        <\/a>\r\n                    <\/h3>\r\n\r\n                    \r\n\t\t\t\t\t\n<div class=\"cta\">\n    <div class=\"cta__btn share-dropdown-cta dropdown-toggle-btn\" style=\"position:relative\">\n        <img decoding=\"async\" src=\"https:\/\/ent.news\/internal\/408834.svg\" alt=\"\">\n        Share Story\n        <!-- Dropdown Menu -->\n        <ul class=\"share-menu\">\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/enterpriseam.com\/mena-india\/2026\/05\/11\/adani-pushes-domestic-ai-infrastructure-buildout\/\" target=\"_blank\">\n                    Open in new tab                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/new-tab.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"#\" target=\"_blank\" onclick=\"event.preventDefault(); 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The call comes on the heels of projections seeing AI-driven data centre demand rising from 5 GW by 2030 to nearly 75 GW by 2047.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The framing dovetails neatly with Adani Group\u2019s own USD 100 bn data centre plan<\/strong>, its Google and Microsoft partnerships, and its 30 GW Khavda renewables project. The corridor question Adani didn't answer: how Gulf sovereign capital \u2014 currently the most aggressive non-Chinese non-US backer of AI infrastructure \u2014 fits into a \"sovereign\" Indian buildout. That's the more interesting story whenever someone gets it on the record.<\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/mena-india\/tag\/adani-group\/\">Adani Group<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/mena-india\/tag\/also-on-our-radar\/\">ALSO ON OUR RADAR<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/mena-india\/tag\/artificial-intelligence\/\">artificial intelligence<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/mena-india\/tag\/cloud-infrastructure\/\">Cloud infrastructure<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"89517\" class=\"issue-section markets\">\n<div class=\"issue-section__content\">\n<div class=\"stories\">            <!-- Show divider before story section -->\r\n        <div \r\n            class=\"\r\n                story-section            \"\r\n            id=\"89517\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">6<\/div>\r\n\r\n                    <p class=\"f-graphik\">PLANET FINANCE<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/mena-india\/2026\/05\/11\/2026s-largest-us-tech-ipo-has-abu-dhabis-ai-thesis-riding-on-it\/\">\r\n                            It\u2019s a chip off the Abu Dhabi block                        <\/a>\r\n                    <\/h3>\r\n\r\n                    \r\n\t\t\t\t\t\n<div class=\"cta\">\n    <div class=\"cta__btn share-dropdown-cta dropdown-toggle-btn\" style=\"position:relative\">\n        <img decoding=\"async\" src=\"https:\/\/ent.news\/internal\/408834.svg\" alt=\"\">\n        Share Story\n        <!-- Dropdown Menu -->\n        <ul class=\"share-menu\">\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/enterpriseam.com\/mena-india\/2026\/05\/11\/2026s-largest-us-tech-ipo-has-abu-dhabis-ai-thesis-riding-on-it\/\" target=\"_blank\">\n                    Open in new tab                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/new-tab.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"#\" target=\"_blank\" onclick=\"event.preventDefault(); 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The top of the rumored range implies a market cap of roughly USD 34 bn at listing (up from <a target=\"_blank\" href=\"https:\/\/www.cnbc.com\/2026\/05\/04\/cerebras-ipo-ai-chipmaker.html\" style=\"\">USD 23 bn in February<\/a>) and IPO proceeds of about USD 4.8 bn (up from USD 3.5 bn originally), by our math.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Read this as the moment US capital markets put a number on Abu Dhabi's AI thesis. <\/strong>UAE entities make up 86% of the AI chipmaker\u2019s revenue. Mohamed bin Zayed University of AI, the research anchor of the UAE's entire AI strategy, accounted for 62% of the firm's 2025 top line, and Abu Dhabi-backed AI firm G42 accounted for 24%, according to the <a target=\"_blank\" href=\"https:\/\/www.sec.gov\/Archives\/edgar\/data\/2021728\/000162828026029503\/cerebras-sx1amay2026.htm\" style=\"\">prospectus<\/a>. G42 alone drove 85% of Cerebras\u2019 revenue in 2024.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>ICYMI-<\/strong> The AI chipmaker first filed to go public in 2024, but the Committee on Foreign Investment in the US <a target=\"_blank\" href=\"https:\/\/www.reuters.com\/technology\/cerebras-ipo-further-delayed-us-national-security-review-drags-2025-03-25\/\" style=\"\">opened a formal investigation<\/a> into G42\u2019s minority position over concerns that G42\u2019s ties to Chinese tech companies could undermine US export controls and give Beijing access to advanced AI chips. The move was ultimately cleared after Cerebras restructured <a target=\"_blank\" href=\"https:\/\/enterpriseam.com\/uae\/2025\/12\/22\/this-morning-is-g42-no-longer-an-investor-in-cerebras-macron-discusses-more-investments-in-ai-energy-and-tech-with-uae-president\/\" style=\"\">G42\u2019s equity stake<\/a> into non-voting shares with no board influence, following some diplomatic lifting by UAE national security advisor Tahnoun bin Zayed Al Nahyan.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The commercial tie-up runs deeper than any shareholding anyway.<\/strong> The semiconductor firm is also deploying AI infrastructure inside the <a target=\"_blank\" href=\"https:\/\/enterpriseam.com\/uae\/2025\/10\/14\/du-plans-1-gw-ai-park-in-dubai\/\" style=\"\">UAE\u2019s Stargate project<\/a> \u2014 the cluster being built alongside Nvidia, OpenAI, and Oracle, which is set to be operational this year with an initial 200 MW capacity, <a target=\"_blank\" href=\"https:\/\/www.itp.net\/news\/cerebras-is-heading-to-nasdaq-and-the-uae-has-a-lot-riding-on-it\" style=\"\">ITP<\/a> reports, making the case for Cerebras as the compute backbone of a sovereign AI strategy. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The pitch?<\/strong> Cerebras is a credible Nvidia alternative with wafer-scale chips, backed by OpenAI compute demand and AWS. The business printed headline net income last year \u2014 driven by a non-operating accounting gain \u2014 with its top line up 20-fold in three years, according to ITP. Whether the market is right to price in a smooth transition to a more global revenue mix \u2014 implied by the OpenAI and AWS agreements but not yet visible in the financials \u2014 is the open question underneath the 20x book.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>A live test case for the model: <\/strong>If Cerebras\u2019 IPO prices well and trades above offer, it validates Abu Dhabi's early wager on AI infrastructure and gives the UAE-backed play a clean read-through in public markets, ITP\u2019s Pavneet Kaur argues. It also sets the \u201ctemplate\u201d moving forward that GCC participation comes with tighter guardrails around control and access to sensitive US tech.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>ADVISORS- <\/strong>Morgan Stanley, Citigroup, Barclays, and UBS are quarterbacking the transaction, among others. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">\n<p class=\"tag-border-left\">MARKETS THIS MORNING- <\/p>\n<div class='stock-ticker-panel'>\n<table class='table stock-ticker-table markets-table'>\n<tr class='tr-row-up'>\n<td class='td-list-up'>\n<p><svg class='e-icon e-TypeMarkets11'><use xlink:href='#e-TypeMarkets11'><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong><a target=\"_blank\" href=\"https:\/\/www.bloomberg.com\/quote\/SENSEX:IND?embedded-checkout=true\" style=\"\">Sensex<\/a><\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">76,015<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">-1.7% (YTD: -10.8%)<\/p>\n<\/td>\n<\/tr>\n<tr class='tr-row-down'>\n<td class='td-list-down'>\n<p><svg class='e-icon e-TypeMarkets1'><use xlink:href='#e-TypeMarkets1'><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong><a target=\"_blank\" href=\"https:\/\/www.bloomberg.com\/quote\/NIFTY:IND\" style=\"\">NIFTY 50<\/a><\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">23,815<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">-1.4% (YTD: -8.8%)<\/p>\n<\/td>\n<\/tr>\n<tr class='tr-row-down'>\n<td class='td-list-down'>\n<p><svg class='e-icon e-TypeMarkets1'><use xlink:href='#e-TypeMarkets1'><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong><a target=\"_blank\" href=\"https:\/\/www.bloomberg.com\/quote\/ADSMI:IND?sref=mmeFTDW1\" style=\"\">ADX<\/a><\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">9,764<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">-0.7% (YTD: -2.2%)<\/p>\n<\/td>\n<\/tr>\n<tr class='tr-row-down'>\n<td class='td-list-down'>\n<p><svg class='e-icon e-TypeMarkets1'><use xlink:href='#e-TypeMarkets1'><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong><a target=\"_blank\" href=\"https:\/\/www.bloomberg.com\/quote\/DFMGI:IND?sref=mmeFTDW1\" style=\"\">DFM<\/a><\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">5,841<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">-1.02% (YTD: -3.4%)<\/p>\n<\/td>\n<\/tr>\n<tr class='tr-row-up'>\n<td class='td-list-up'>\n<p><svg class='e-icon e-TypeMarkets11'><use xlink:href='#e-TypeMarkets11'><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong><a target=\"_blank\" href=\"https:\/\/www.bloomberg.com\/quote\/SASEIDX:IND\" style=\"\">Tadawul<\/a><\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">11,178<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">+0.5% (YTD: +6.5%)<\/p>\n<\/td>\n<\/tr>\n<tr class='tr-row-up'>\n<td class='td-list-up'>\n<p><svg class='e-icon e-TypeMarkets11'><use xlink:href='#e-TypeMarkets11'><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong><a target=\"_blank\" href=\"https:\/\/www.egx.com.eg\/en\/homepage.aspx\" style=\"\">EGX30<\/a><\/strong> <\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">54,708<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">+0.1% (YTD: +30.7%)<\/p>\n<\/td>\n<\/tr>\n<tr class='tr-row-down'>\n<td class='td-list-down'>\n<p><svg class='e-icon e-TypeMarkets1'><use xlink:href='#e-TypeMarkets1'><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong><a target=\"_blank\" href=\"https:\/\/www.bloomberg.com\/quote\/KWSEMM:IND\" style=\"\">Boursa Kuwait<\/a><\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">8,614<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">-0.6% (YTD: +3.7%)<\/p>\n<\/td>\n<\/tr>\n<tr class='tr-row-down'>\n<td class='td-list-down'>\n<p><svg class='e-icon e-TypeMarkets1'><use xlink:href='#e-TypeMarkets1'><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong><a target=\"_blank\" href=\"https:\/\/www.bloomberg.com\/quote\/DSM:IND\" style=\"\">QSE<\/a><\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">10,631<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">-0.3% (YTD: -1.2%)<\/p>\n<\/td>\n<\/tr>\n<tr class='tr-row-up'>\n<td class='td-list-up'>\n<p><svg class='e-icon e-TypeMarkets11'><use xlink:href='#e-TypeMarkets11'><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong><a target=\"_blank\" href=\"https:\/\/www.bloomberg.com\/quote\/SPX:IND?sref=mmeFTDW1\" style=\"\">S&P 500<\/a><\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">7,398<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">+0.8% (YTD: +8.08%)<\/p>\n<\/td>\n<\/tr>\n<tr class='tr-row-up'>\n<td class='td-list-up'>\n<p><svg class='e-icon e-TypeMarkets11'><use xlink:href='#e-TypeMarkets11'><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong><a target=\"_blank\" href=\"https:\/\/www.bloomberg.com\/quote\/UKX:IND?sref=mmeFTDW1\" style=\"\">FTSE 100<\/a><\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">10,253<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">+0.1% (YTD: 3.2%)<\/p>\n<\/td>\n<\/tr>\n<tr class='tr-row-down'>\n<td class='td-list-down'>\n<p><svg class='e-icon e-TypeMarkets1'><use xlink:href='#e-TypeMarkets1'><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong><a target=\"_blank\" href=\"https:\/\/www.bloomberg.com\/quote\/SX5E:IND?sref=mmeFTDW1\" style=\"\">Euro Stoxx 50<\/a><\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">5,885<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">-0.4% (YTD: +1.6%)<\/p>\n<\/td>\n<\/tr>\n<tr class='tr-row-up'>\n<td class='td-list-up'>\n<p><svg class='e-icon e-TypeMarkets11'><use xlink:href='#e-TypeMarkets11'><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong><a target=\"_blank\" href=\"https:\/\/www.bloomberg.com\/quote\/CO1:COM\" style=\"\">Brent crude<\/a><\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">USD 103<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">+2.1% <\/p>\n<\/td>\n<\/tr>\n<tr class='tr-row-up'>\n<td class='td-list-up'>\n<p><svg class='e-icon e-TypeMarkets11'><use xlink:href='#e-TypeMarkets11'><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>Natural gas <\/strong>(Nymex)<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">USD 2.79<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">+1.3% <\/p>\n<\/td>\n<\/tr>\n<tr class='tr-row-down'>\n<td class='td-list-down'>\n<p><svg class='e-icon e-TypeMarkets1'><use xlink:href='#e-TypeMarkets1'><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>Gold<\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">USD 4,669<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">-1.2% <\/p>\n<\/td>\n<\/tr>\n<tr class='tr-row-up'>\n<td class='td-list-up'>\n<p><svg class='e-icon e-TypeMarkets11'><use xlink:href='#e-TypeMarkets11'><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong><a target=\"_blank\" href=\"https:\/\/www.coindesk.com\/price\/bitcoin\" style=\"\">BTC<\/a><\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">USD 81,049<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">+0.2% <\/p>\n<\/td>\n<\/tr>\n<\/table>\n<\/div>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">The values in the table above are listed according to the market position as of 3:30pm IST \/ 2pm GST.<\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/mena-india\/tag\/financial-markets\/\">Financial markets<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/mena-india\/tag\/planet-finance\/\">PLANET FINANCE<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"89519\" class=\"issue-section \">\n<div class=\"issue-section__content\">\n<div class=\"stories\">            <!-- Show divider before story section -->\r\n        <div \r\n            class=\"\r\n                story-section            \"\r\n            id=\"calendar\">\r\n            \r\n            <div class=\"story__body\">\r\n\r\n                <a href=\"https:\/\/enterpriseam.com\/mena-india\/2026\/05\/11\/89519\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-89519\" class=\"content-area-description single-story post-89519 post type-post status-publish format-standard hentry category-calendar wpautop entry\">\n\n\t\t\t<hr class=\"wp-block-separator has-text-color has-primary-color has-alpha-channel-opacity has-primary-background-color has-background is-style-wide\">\n\n\t\t<h2 class=\"wp-block-heading mt-0 has-primary-color has-text-color has-link-color has-normal-font-size\" style=\"padding-top:0px;padding-right:0px;padding-bottom:0px;padding-left:0px\">\n\t\t\t<strong> CALENDAR<\/strong>\n\t\t<\/h2>\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">MAY<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\">26 May (Tuesday): Eid Al-Adha.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700;\">JUNE<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>15-17 June (Monday-Wednesday): Prime Minister Narendra Modi to attend <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/in.diplomatie.gouv.fr\/en\/meeting-between-minister-jean-noel-barrot-and-his-indian-counterpart-subrahmanyam-jaishankar\" style=\"\">G7 Summit<\/a><\/span><span style=\"font-weight:400;\"> in Evian, France.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>18-21 June (Thursday-Sunday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/bharatbuildcon.com\/\" style=\"\">Bharat Buildcon<\/a><\/span><span style=\"font-weight:400;\">, Yashobhoomi, Dwarka, Delhi.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>24-25 June (Wednesday-Thursday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/homelandsecurityexpo.in\/datesvenue.php#\" style=\"\">India Homeland Security Expo<\/a><\/span><span style=\"font-weight:400;\">, Bharat Mandapam, Pragati Maidan, New Delhi.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\">26 June (Friday): Muharram.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">Signposted to happen sometime in 1H 2026:<\/span><\/p>\n<ul>\n<li><span>Signing of <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/timesofindia.indiatimes.com\/business\/india-business\/india-qatar-trade-deal-by-q3-next-year-piyush-goyal\/articleshow\/124350957.cms\" style=\"\">India-Qatar FreeTrade Agreement<\/a><\/span><span style=\"font-weight:400;\"> (Details yet to be announced);<\/span><\/li>\n<li><span>India-EU Trade and Technology Council <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.mea.gov.in\/press-releases.htm?dtl\/40336\/Joint_Press_Release_on_the_11th_India__EU_Foreign_Policy_and_Security_Consultations_and_the_6th_IndiaEU_Strategic_Partnership_Review_Meeting_in_Brusse\" style=\"\">Ministerial Meeting<\/a><\/span><span style=\"font-weight:400;\">, Brussels, Belgium;<\/span><\/li>\n<li><span>India to host the <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.brics2026.gov.in\/\" style=\"\">Brics Summit<\/a><\/span><span style=\"font-weight:400;\">. <\/span><\/li>\n<\/ul>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700;\">JULY<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>1-3 July (Wednesday-Friday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/seafoodexpobharat.com\/index\" style=\"\">Seafood Expo Bharat<\/a><\/span><span style=\"font-weight:400;\">, Chennai Trade Centre, Chennai.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>3-4 July (Friday-Saturday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.railtransexpo.com\/\" style=\"\">Rail & Transit Expo (RailTrans)<\/a><\/span><span style=\"font-weight:400;\">, Bharat Mandapam, New Delhi<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>3-4 July (Friday-Saturday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/sfia.co.in\/soms-exhibition-enquiry\/\" style=\"\">SOMS International Exhibition & Conference<\/a><\/span><span style=\"font-weight:400;\">, Gandhinagar, Gujarat.<br \/><\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>8-10 July (Wednesday-Friday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/indiaesa.info\/events\/ongoing-upcoming-events\/india-energy-storage-week-iesw-2026-international-conference-expo\" style=\"\">India Energy Storage Week<\/a><\/span><span style=\"font-weight:400;\">, New Delhi.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>14-17 July (Tuesday-Friday) <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.bharat-tex.com\/\" style=\"\">Bharat Tex<\/a><\/span><span style=\"font-weight:400;\">, New Delhi.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>22-24 July (Wednesday-Friday): <\/span><span style=\"text-decoration-skip-ink:none;font-size:10.5pt;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/expo.railanalysis.com\/\" style=\"\">Rail & Metro Technology Conclave<\/a><\/span><span style=\"font-weight:400;\">, Bharat Mandapam, New Delhi.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700;\">AUGUST <\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\">15 August (Saturday): Independence Day.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\">26 August (Wednesday): Prophet Mohammad\u2019s Birthday.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700;\">SEPTEMBER<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>1-3 September (Tuesday-Thursday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.google.com\/aclk?sa=L&pf=1&ai=DChsSEwjR1K6gpvGSAxU_pGYCHQZsAUYYACICCAEQABoCc20&co=1&ase=2&gclid=CjwKCAiAkvDMBhBMEiwAnUA9BXlzJ_51NnncbXFGJPknsl9U8fuH_2DYylYR6Njl1Wiro3vTSETD5xoCGwwQAvD_BwE&cid=CAASWeRoxAKDvnN10uiAgADiP_tr-86MYgXL7w9NjAhW4jdTGhvec5zS3oLBMjYOXZ64qxxGvmWVO_5G_EzEFZoHOVFiOomp4ms3w-qvO03Ts6UmEToguhBh-lrZ&cce=2&category=acrcp_v1_32&sig=AOD64_1xqDEmbs2G1Mj41_lmIhdI16_KWQ&q&nis=4&adurl=https:\/\/www.powergen-india.com\/?utm_term%3Dindia%2520energy%2520week%25202026%26utm_campaign%3DWebsite%2Btraffic-Search-Middle%2BEast%26utm_source%3Dadwords%26utm_medium%3Dppc%26hsa_acc%3D1807191727%26hsa_cam%3D22568575893%26hsa_grp%3D190514884962%26hsa_ad%3D784973768390%26hsa_src%3Dg%26hsa_tgt%3Dkwd-2400878034891%26hsa_kw%3Dindia%2520energy%2520week%25202026%26hsa_mt%3Db%26hsa_net%3Dadwords%26hsa_ver%3D3%26utm_term%3Dindia%2520energy%2520week%25202026%26utm_campaign%3DWebsite%2Btraffic-Search-Middle%2BEast%26utm_source%3Dadwords%26utm_medium%3Dppc%26hsa_acc%3D1807191727%26hsa_cam%3D22568575893%26hsa_grp%3D190514884962%26hsa_ad%3D784973768390%26hsa_src%3Dg%26hsa_tgt%3Dkwd-2400878034891%26hsa_kw%3Dindia%2520energy%2520week%25202026%26hsa_mt%3Db%26hsa_net%3Dadwords%26hsa_ver%3D3%26gad_source%3D1%26gad_campaignid%3D22568575893%26gbraid%3D0AAAAADNNyGn8-eBzAmsh-acyTdAdwavkR%26gclid%3DCjwKCAiAkvDMBhBMEiwAnUA9BXlzJ_51NnncbXFGJPknsl9U8fuH_2DYylYR6Njl1Wiro3vTSETD5xoCGwwQAvD_BwE&ved=2ahUKEwilpKOgpvGSAxVzg2MGHXWoGhYQ0Qx6BAgfEAE\" style=\"\">India Energy Week<\/a><\/span><span style=\"font-weight:400;\">, Dwarka, New Delhi.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>7-9 September (Monday-Wednesday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/iphex-india.com\/\" style=\"\">iPHEX 2026<\/a><\/span><span style=\"font-weight:400;\"> International Pharmaceutical Exhibition,  Bharat Mandapam, New Delhi.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>8-11 September (Tuesday-Friday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.globalfintechfest.com\/\" style=\"\">Global Fintech Fest<\/a><\/span><span style=\"font-weight:400;\">, Mumbai.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>17-19 September (Thursday-Saturday) : <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.semiconindia.org\/\" style=\"\">Semicon India Conference<\/a><\/span><span style=\"font-weight:400;\">, Yashobhoomi, Delhi. <\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700;\">OCTOBER <\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\">2 October (Friday): Gandhi Jayanti (Mahatma Gandhi\u2019s Birthday).<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\">20 October (Tuesday): Dussehra.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700;\">NOVEMBER <\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\">24 November (Tuesday): Guru Nanak Jayanti.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700;\">DECEMBER<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>8-11 December (Tuesday-Thursday), <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/expandnorthstar.com\/\" style=\"\">Expand North Star<\/a><\/span><span style=\"font-weight:400;\">, Dubai. <\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\">25 December (Friday): Christmas Day.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700;\">Signposted to happen sometime in 2H 2026:<\/span><\/p>\n<ul>\n<li><span style=\"font-weight:400;\">Monsoon Session of Parliament is expected to be held in July\/August in New Delhi (TBA);<\/span><\/li>\n<li><span style=\"font-weight:400;\">Reserve Bank of India\u2019s Monetary Policy Committee meeting for the September cycle (TBA);<\/span><\/li>\n<li><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.indiamobilecongress.com\/\" style=\"\">India Mobile Congress<\/a><\/span><span style=\"font-weight:400;\"> will likely be held in October in New Delhi (TBA).<\/span><\/li>\n<\/ul>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700;\">JANUARY 2027<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>30 January-3 February (Saturday-Wednesday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/printpackipama.com\/\" style=\"\">Printpack India<\/a><\/span><span style=\"font-weight:400;\">, India Expo Centre, Greater Noida (Delhi NCR).<\/span><\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n","protected":false},"excerpt":{"rendered":"<p>India urges restraint amid oil shock | SBI, PNP halt new GCC lending | Reliance Jio IPO reshaped, blocks Gulf exit<\/p>\n","protected":false},"featured_media":89506,"menu_order":0,"template":"","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"footnotes":""},"categories":[],"tags":[],"class_list":["post-89505","issue","type-issue","status-publish","has-post-thumbnail","hentry","wpautop","entry"],"acf":{"mongo_id":"262a7f3e-ca41-41f4-aa9e-77469453c6a2","teaser":"India urges restraint amid oil shock | SBI, PNP halt new GCC lending | Reliance Jio IPO reshaped, blocks Gulf exit","photo_url":"https:\/\/ent.news\/2025\/11\/1994.jpg"},"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v27.1 (Yoast SEO v27.1.1) - 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