{"id":89558,"date":"2026-05-13T00:00:00","date_gmt":"2026-05-13T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/mena-india\/?post_type=issue&#038;p=89558"},"modified":"2026-05-13T10:29:07","modified_gmt":"2026-05-13T10:29:07","slug":"modis-uae-first-tour-comes-as-gulf-crisis-hits-indias-economy","status":"publish","type":"issue","link":"https:\/\/enterpriseam.com\/mena-india\/issues\/modis-uae-first-tour-comes-as-gulf-crisis-hits-indias-economy\/","title":{"rendered":"Modi\u2019s UAE-first tour comes as Gulf crisis hits India\u2019s economy"},"content":{"rendered":"<section id=\"89560\" 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=\"89560\">\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\/13\/this-afternoon-indias-import-shift-drives-explosive-growth-in-oman-crude-shipments\/\">\r\n                            THIS AFTERNOON: India\u2019s import shift drives explosive growth in Oman crude shipments                        <\/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\/13\/this-afternoon-indias-import-shift-drives-explosive-growth-in-oman-crude-shipments\/\" 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 PM's five-nation tour kicks off with the UAE on 15 May, then Europe. Anyone watching the Hormuz numbers can read this as a crude-and-LNG diversification swing, dressed as diplomacy. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The INR closed at 95.62 yesterday<\/strong>, a record low. Delhi's PMO, the Finance Ministry, and the RBI are war-gaming an emergency FX toolkit we last saw in 2013. The difference driving it? Not the Fed, but a Gulf war. Charan Singh, former research director at the RBI, tells us the INR is headed for 100\/USD. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Quietly relevant aside:<\/strong> We caught two former Indian ambassadors to Oman this week. Muscat has gone from \u201cimportant relationship\u201d to \u201cstructural Hormuz bypass\u201d in under 90 days. The Cepa goes live 1 June. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>On deck:<\/strong> RBI weekly FX reserves data Friday, whether state refiners move on pump prices before Modi lands, and our corridor stress-test piece Friday that brings it all together. <\/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 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\">Happening tomorrow<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong><a id=\"wwtt1\"><\/a>  Brics foreign ministers gather in New Delhi tomorrow for a two-day <\/strong><strong>meeting that will test the bloc's <\/strong><strong>ability to find a common line on the Iran war <\/strong>\u2014 with India, as 2026 chair, sitting in the most exposed seat. External Affairs Minister S Jaishankar will chair the talks at Bharat Mandapam, and visiting delegations are scheduled to call on Prime Minister Narendra Modi, the <a target=\"_blank\" href=\"https:\/\/www.mea.gov.in\/\" style=\"\">Ministry of External Affairs<\/a> confirmed yesterday.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Who\u2019s at the table: <\/strong>Russian Foreign Minister Sergey Lavrov has confirmed attendance, and South African Foreign Minister Ronald Lamola arrived in Delhi yesterday. Other delegations are en route.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Why it matters for the corridor: <\/strong>Of Brics\u2019 11 members, four are corridor economies \u2014 Egypt, Iran, Saudi Arabia, and the UAE. Add India as host and the bloc that meets in Delhi tomorrow is, in effect, the corridor sitting around one table. Iran has urged India to use the platform to build consensus against US-Israeli actions, <a target=\"_blank\" href=\"https:\/\/www.reuters.com\/world\/china\/iran-war-cast-shadow-brics-foreign-ministers-meeting-delhi-2026-05-13\/\" style=\"\">Reuters<\/a> reports \u2014 and Tehran is already at odds with fellow Brics member the UAE on the war's framing. India is pushing for a joint statement anyway, even as several Brics economies absorb war-driven energy costs.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>What's next: <\/strong>Whether Delhi can deliver a joint statement is the meeting's first real test of the bloc's coherence under pressure. Sessions run Thursday and Friday, with opening remarks streamed on <a target=\"_blank\" href=\"https:\/\/www.youtube.com\/@DDnews\" style=\"\">DD News<\/a> and the <a target=\"_blank\" href=\"https:\/\/www.youtube.com\/@MEAIndia\" style=\"\">MEA YouTube channel<\/a>.<\/p>\n\n<p class=\"tag-border-left\">Muscat is having its moment<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong><a id=\"wwtt2\"><\/a> <\/strong><strong> Oman went from zero to USD 545.72 mn of crude <\/strong><strong>exports to India in a single <\/strong><strong>month.<\/strong> Indian refiners shifted part of their Gulf sourcing to Muscat in March due to positioning, as Omani terminals sit outside the Strait of Hormuz with direct Arabian Sea access, <a target=\"_blank\" href=\"https:\/\/www.moneycontrol.com\/news\/business\/india-s-crude-imports-from-oman-jump-646-in-march-as-iran-war-disrupts-oil-flows-13915183.html\/amp?utm_campaign=fullarticle&utm_medium=referral&utm_source=inshorts\" style=\"\">Moneycontrol<\/a> reports, citing Commerce Ministry data. The 646% y-o-y jump tracked a parallel collapse elsewhere \u2014 Iraq down 66.67%, Saudi Arabia down 46.78%, and US barrels down 43.65%.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The scale:<\/strong> India\u2019s total crude imports fell 35.5% y-o-y to USD 9.53 bn in March, down from USD 14.77 bn a year earlier \u2014 the clearest indication of how severely the Iran conflict has disrupted flows. Russia held its position as India\u2019s largest single supplier at USD 3.25 bn, but even Russian shipments were down 19.37% y-o-y.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Why it matters for the corridor: <\/strong>Saudi Aramco took the sharpest hit of any major supplier \u2014 nearly half its Indian volume was wiped away in a single month. If the March pattern holds, FY 26 volume planning needs to be redone across the Gulf, and producers who can route around Hormuz \u2014 like Oman and the UAE via Fujairah or the Adnoc pipeline \u2014 will gain at Saudi's expense.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>What's next:<\/strong> April Commerce Ministry data lands in late May \u2014 that\u2019s when we\u2019ll see whether the Oman switch has been flipped on permanently or for one month only. If disruption continues, the next test is whether Saudi Arabia, the UAE, and Qatar can keep barrels moving to Indian refiners without a sharp rise in freight, ins. and delivery costs.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">^^ We have more on the incoming India-Oman CEPA in the news well below.<\/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 emergency signal is now policy<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong><a id=\"wwtt3\"><\/a><\/strong>  <strong>New Delhi raised import tariffs on gold and silver to 15% <\/strong><strong>from 6% Tuesday<\/strong>, <a target=\"_blank\" href=\"https:\/\/www.reuters.com\/world\/india\/india-raises-import-tariffs-gold-silver-government-order-says-2026-05-12\/\" style=\"\">Reuters<\/a> reports, citing government orders. That's a 2.5x jump in one move, and it makes bullion the first import line formally targeted after Prime Minister Narendra Modi urged households to avoid gold purchases for a 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> Gold is the import Delhi can curb fastest without disrupting industrial supply chains. India imports nearly all the gold it consumes, making it a major USD drain as crude prices, shipping disruption, and INR pressure squeeze the external account. The tariff hike comes on top of a recent 3% IGST that pushed April gold imports to a near 30-year low. The 15% duty is designed to extend that effect. India's annual gold import bill runs at nearly USD 45-50 bn \u2014 even a 15-20% volume reduction is USD 7-10 bn in FX saved.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Dubai is the pressure point. <\/strong>India\u2019s gold bar imports from the UAE rose to <a target=\"_blank\" href=\"https:\/\/economictimes.indiatimes.com\/news\/et-explains\/indias-gold-imports-how-it-impacts-our-economy-an-explainer\/articleshow\/131028577.cms\" style=\"\">USD 16.5 bn in 2025 from USD 6.7 bn in 2023<\/a>, while the UAE's share of total Indian gold imports climbed to 28% in 2025 from 7.9% before the India-UAE trade pact. A 15% Indian duty widens the incentive for grey-market flows \u2014 a risk that had subsided after India cut duties to 6% in the FY 25 Budget, but which industry officials suggest is now poised for a resurgence, according to Reuters.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Investment demand was strong before the tariff hike<\/strong>, with Indian gold ETF inflows rising 186% y-o-y in the March quarter to a record 20 tons. Higher landed prices will hit formal-entry imports and jewellery volumes. Senco Gold MD and CEO Suvankar Sen told <a target=\"_blank\" href=\"https:\/\/economictimes.indiatimes.com\/industry\/cons-products\/fashion-\/-cosmetics-\/-jewellery\/gold-prices-india-raises-gold-and-silver-customs-duty-to-15-to-curb-imports-support-rupee\/articleshow\/131052031.cms\" style=\"\">Economic Times<\/a> volumes may fall 10-15%, even if values hold on higher prices.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>What's next:<\/strong> May gold import data lands mid-June \u2014 the test of whether the 15% duty hits volumes as hard as the 3% IGST did.<\/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\">Fuel shock reaches flight schedules<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><a id=\"wwtt4\"><\/a> <strong>Air India is cutting about 100 international flights a day for <\/strong><strong>three <\/strong><strong>months from June <\/strong>\u2014 the first hard route-level response to a fuel-cost shock that has already rattled Indian aviation stocks and now threatens the Gulf-corridor capacity Indian carriers spent two years building. The carrier is suspending Delhi flights to Chicago, Newark, Singapore, and Shanghai while reducing frequencies to San Francisco, Paris, and Toronto, <a target=\"_blank\" href=\"https:\/\/economictimes.indiatimes.com\/nri\/latest-updates\/air-india-terminates-flights-to-multiple-destinations-as-fuel-price-bites\/articleshow\/131052890.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 math: <\/strong>Jet fuel hit USD 162.89 \/ bbl for the week ending 8 May, up from USD 99.40 \/ bbl at end-February \u2014 and fuel is up to 40% of airline operating costs. Pakistan's airspace closure is compounding the hit, with North America flights now refuelling in Vienna or Stockholm.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Why Air India first: <\/strong>Air India is more exposed than low-cost IndiGo on long-haul, where extra fuel burn and stopovers hit margins fast. With accumulated losses above INR 200 bn (USD 2.1 bn), pressure on Tata Sons and Singapore Airlines to cut is mounting. A senior airline official told the news outlet the carrier is \u201cnot recovering even the operating cost on most flights.\u201d<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>What's next:<\/strong> The cruel symmetry \u2014 the fuel shock pricing Indian carriers out of long-haul is coming from Middle East energy markets, even as <a target=\"_blank\" href=\"https:\/\/enterpriseam.com\/mena-india\/2026\/05\/11\/this-afternoon-uae-managed-lpg-tanker-sails-hormuz\/\" style=\"\">Gulf hubs remain central to the long-haul connectivity<\/a> Indian carriers can't easily replace. The UAE is consistently among the top destinations for Indian outbound. The first cuts spare the Gulf \u2014 the test is whether the next round does too.<\/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\">Exim Bank steps up to fill the gap<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The Export-Import Bank of India (Exim Bank) will raise INR 995 bn (USD 10.5 bn) in FY 27<\/strong>, Managing Director Harsha Bangari told <a target=\"_blank\" href=\"https:\/\/www.reuters.com\/world\/india\/indias-state-owned-exim-bank-plans-105-billion-fundraise-2026-05-12\/\" style=\"\">Reuters<\/a> on Monday. The fundraise lands as the war-led energy shock, a weakening currency, and forecasts of a widening current account deficit pressure the external account \u2014 and as private lenders scale back Gulf exposure.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Why it matters:<\/strong> Exim Bank finances India\u2019s Lines of Credit program, which underwrites overseas infrastructure and trade across the Gulf and Africa \u2014 any project backed by Exim is effectively shielded from the war-risk premiums that are now repricing private Gulf-linked agreements. The state is stepping in to underwrite trade finance just as risk appetite <a target=\"_blank\" href=\"https:\/\/m.economictimes.com\/industry\/banking\/finance\/banking\/indian-banks-avoid-fresh-gulf-bets-as-iran-crisis-drags-on\/amp_articleshow\/130998580.cms\" style=\"\">among India's private lenders recedes.<\/a> It keeps Indian export flows into the corridor underwritten even as private-sector trade finance dries up. The state is filling the gap the banks are leaving.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The corridor cycle: <\/strong>Gulf institutions pulling back from Indian private credit may end up funding India\u2019s state-backed export financing instead \u2014 recycling petrodollars into the same corridor they are de-risking elsewhere. Roughly USD 3.5 bn of the total raise will be sourced overseas through bilateral and syndicated loans, and a raise of this scale will likely be syndicated internationally, with the Gulf as the obvious source of overseas capital. Financial centers in Dubai, Abu Dhabi, and Riyadh are key buyers of sovereign-adjacent Indian debt.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>What\u2019s next: <\/strong>We\u2019ll be keeping an eye on the syndication structure when the raise launches \u2014 the geographic mix of participating banks will be the cleanest signal of where Gulf appetite actually sits.<\/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\"> The big story abroad<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Today\u2019s papers are buzzing with business updates. <\/strong>US inflation hit a three-year high in April, coming in at 3.8% thanks to the war-triggered rise in energy prices. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Wall Street is unsettled by these figures.<\/strong> Investors are <a target=\"_blank\" href=\"https:\/\/www.wsj.com\/finance\/investing\/wall-street-is-getting-more-anxious-about-long-term-inflation-8c6dd06d?mod=hp_lead_pos1\" style=\"\">wagering<\/a> on continued inflation growth, expecting average annual inflation to level out at 2.7% over the next five years. Investors are hedging against this risk by trading standard US treasuries alongside treasury inflation-protected securities.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>But US stock markets <\/strong><strong><a target=\"_blank\" href=\"https:\/\/www.cnbc.com\/2026\/05\/12\/the-stock-market-isnt-ignoring-iran-its-rising-for-these-three-very-real-reasons.html\" style=\"\">don\u2019t seem rattled<\/a><\/strong><strong> by the (seemingly endless) conflict. <\/strong>The S&P 500 has been hitting fresh high after fresh high, most recently crossing the 7.4k mark for the very first time at Monday\u2019s close, even as oil prices stayed elevated. Some suggest the US market remains resilient against the Hormuz blockade due to oil independence and strong tech earnings as key drivers of investor confidence.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Markets will be closely watching the Trump-Xi summit. <\/strong>US President Donald Trump is <a target=\"_blank\" href=\"https:\/\/apnews.com\/article\/trump-xi-iran-sanctions-trade-48b0ca751712ce473ffcd207997928af\" style=\"\">kicking off<\/a> his visit to Beijing today, during which he will meet Chinese President Xi Jinping to <a target=\"_blank\" href=\"https:\/\/www.washingtonpost.com\/world\/2026\/05\/11\/china-us-trump-xi-summit\/2f5f56d6-4d9f-11f1-97e7-22c6c29ff0d8_story.html\" style=\"\">discuss<\/a> trade relations and the ongoing crisis in the Strait of Hormuz.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>GameStop\u2019s eBay takeover is a no-go: <\/strong>Online marketplace eBay <a target=\"_blank\" href=\"https:\/\/www.ft.com\/content\/554f76a6-218d-4f88-bcad-9c52623ef533?syn-25a6b1a6=1\" style=\"\">turned down<\/a> GameStop\u2019s USD 56 bn acquisition bid, expressing concerns over financing and leverage, the video game retailer\u2019s governance, and operational risks of the combined entity. GameStop CEO Ryan Cohen has been <a target=\"_blank\" href=\"https:\/\/enterpriseam.com\/egypt\/2026\/05\/05\/gamestop-is-turning-to-the-gcc-to-fund-its-usd-55-5-bn-bid-for-ebay\/\" style=\"\">courting GCC sovereign wealth funds<\/a> to bridge the equity gap for the transaction.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>In the AI world, Anthropic <\/strong><strong><a target=\"_blank\" href=\"https:\/\/www.bloomberg.com\/news\/articles\/2026-05-12\/anthropic-in-talks-to-raise-30-billion-at-900-billion-valuation?srnd=homepage-middle-east\" style=\"\">is in early negotiations<\/a><\/strong><strong> to raise over USD 30 bn in new funding<\/strong>, paving the way for its largest funding round yet. The round is expected to wrap up by the end of May, one source told Bloomberg.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>JPMorgan Chase has pushed further into the crypto world<\/strong>, <a target=\"_blank\" href=\"https:\/\/www.bloomberg.com\/news\/articles\/2026-05-12\/jpmorgan-s-crypto-push-deepens-with-filing-for-tokenized-fund\" style=\"\">submitting paperwork<\/a> to set up its second tokenized money market fund. The entity plans to issue digital tokens on the ETH blockchain to represent shares in its portfolio of treasuries and repurchase agreements.<\/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\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\/oman\/\">Oman<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/mena-india\/tag\/trade\/\">Trade<\/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=\"89562\" 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=\"89562\">\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\/13\/modi-is-heading-to-abu-dhabi-after-weeks-of-absorbing-iran-crisis-at-home\/\">\r\n                            Wheels up                        <\/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\/13\/modi-is-heading-to-abu-dhabi-after-weeks-of-absorbing-iran-crisis-at-home\/\" 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 UAE is the only Gulf stop \u2014 no Riyadh \u2014 and the visit comes as higher oil prices, shipping disruption, and pressure on India's FX buffers turn the Middle East crisis into a domestic macro problem. The INR closed at a record low of 95.64 per USD yesterday.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>MEANWHILE-<\/strong> Iranian Foreign Minister Abbas Araghchi is expected in Delhi on 14-15 May for the Brics Foreign Ministers' meeting and is expected to call on Modi before he flies to Abu Dhabi, <a target=\"_blank\" href=\"https:\/\/www.thehindu.com\/news\/national\/pm-modi-to-meet-iran-fm-other-brics-ministers-before-uae-visit\/article70966622.ece\" style=\"\">The Hindu<\/a> reports. India is hosting Tehran 24 hours before Modi meets UAE President Mohamed bin Zayed Al Nahyan, after tensions between Iran and the UAE escalated over the Fujairah oil facility strike. <strong>The sequencing is doing work:<\/strong> Delhi wants both capitals to know it is being heard before either is asked for anything.<\/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 question isn\u2019t whether the UAE will extend a hand on energy cooperation, but more about whether Abu Dhabi will move on Adnoc supply continuity through Hormuz disruption and bilateral payment mechanisms. Thirteen Indian-flagged vessels and 340 seafarers are currently <a target=\"_blank\" href=\"https:\/\/www.reuters.com\/world\/india\/indias-modi-begin-five-nation-tour-including-uae-amid-middle-east-crisis-2026-05-11\/\" style=\"\">stuck in the strait<\/a>, and India has been pushing INR-AED settlement for two years, with the FX picture now making the issue urgent.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Why not Saudi? <\/strong>Either Riyadh is too publicly tied to the Iran confrontation for Modi to visit without taking a position, or Delhi has already asked and been told no.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The European leg also has an energy subtext. <\/strong>Norway brings gas, the Netherlands hosts Europe's LNG hub, and Italy sits on Mediterranean energy routing through its North Africa gas ties. While diversification is the through-line, the UAE is the only stop where the crisis management questions actually have a hope of being answered \u2014 it\u2019s the only stop where India still has live optionality on Gulf supply.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>What's next:<\/strong> Modi departs Friday, and RBI weekly FX reserves data lands the same day. We\u2019ll be watching what Araghchi takes away from the Brics meeting \u2014 Delhi rarely hosts the Iranian foreign minister and the Emirati president in the same week by chance.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>REMEMBER- <\/strong>Modi's last UAE visit <a target=\"_blank\" href=\"https:\/\/www.pib.gov.in\/PressReleasePage.aspx?PRID=1921222\" style=\"\">produced the Cepa framework<\/a> that now anchors bilateral trade at USD 84 bn. This week's visit is the first time the framework is being tested under crisis conditions.<\/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\/crude\/\">Crude<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/mena-india\/tag\/energy\/\">ENERGY<\/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\/shipping\/\">Shipping<\/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=\"89564\" 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=\"89564\">\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\">ECONOMY<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/mena-india\/2026\/05\/13\/india-is-prepping-emergency-capital-and-import-controls-as-inr-hits-new-lows\/\">\r\n                            Curbing the crisis                        <\/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\/13\/india-is-prepping-emergency-capital-and-import-controls-as-inr-hits-new-lows\/\" 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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Meanwhile, FX reserves fell to a one-month low of USD 690.7 bn. Brent is up 46% since the 28 February US-Israel strikes on Iran, pushing India's import bill into structurally unsustainable territory. FPI outflows have exceeded USD 20 bn since the war\u2019s onset.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>\u201cAn annual depreciation of roughly 4% is not a crisis but inevitable for maintaining India\u2019s export competitiveness \u2014 potentially leading the INR towards the 100\/USD mark<\/strong>,\u201d former RBI research director and ex-IMF economist Charan Singh tells EnterpriseAM. With inflation running at nearly 6% in India versus 2% in the US, the math does the work.<\/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\">Why it matters<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Tightening curbs could threaten India-UAE trade and real estate flows:<\/strong> Dubai\u2019s bullion ecosystem is the most exposed single trade, and India is its largest customer. Tighter import curbs would hit volumes fast. A tightening of the Liberalized Remittance Scheme, currently capped at USD 250k annually, could slow Indian capital flowing into Dubai and Abu Dhabi real estate \u2014 a financial artery few corridor players have priced in. For Gulf SWFs sitting on Indian assets, the entry point is getting cheaper, but the <a target=\"_blank\" href=\"https:\/\/www.business-standard.com\/economy\/news\/pm-modi-s-savings-appeal-signals-fiscal-stress-at-tipping-point-nomura-126051100648_1.html\" style=\"\">balance-of-payments deficit<\/a> is tracking above USD 70 bn, its highest point since 2013.<\/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\"> Hiking and widening<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>State refiners are preparing an increase of about INR 5 (USD 0.06) per liter <\/strong>\u2014 far below the INR 15-20 needed to fully offset losses, <a target=\"_blank\" href=\"https:\/\/www.bloomberg.com\/news\/articles\/2026-05-11\/india-state-refiners-eye-modest-fuel-price-hike-as-losses-mount?srnd=phx-india-v2\" style=\"\">Bloomberg<\/a> reports, citing sources it says are in the know. The plan is to trim daily under-recoveries of roughly INR 10 bn (USD 105 mn), with <a target=\"_blank\" href=\"https:\/\/enterpriseam.com\/mena-india\/2026\/05\/11\/india-is-publicly-saying-it-can-no-longer-absorb-the-crude-hike\/\" style=\"\">state refiner losses<\/a> now past INR 1 tn (USD 12 bn) over 10 weeks. The two-year excise-duty cushion that absorbed the volatility cost Delhi nearly 0.5% of GDP, per Nomura, and it's run out.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>\u201cStrategic paranoia\u201d is what businesses should now adopt<\/strong>, Uday Kotak, founder of Kotak Mahindra Bank, said this week. He argues that the impact has been muted so far but is \u201cset to come big\u201d and that firms should plan independently rather than rely on state support.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>India\u2019s current account deficit is <\/strong><strong><a target=\"_blank\" href=\"https:\/\/www.business-standard.com\/economy\/news\/economists-see-fy27-cad-widening-as-oil-shock-remittance-risks-mount-126051101327_1.html\" style=\"\">expected<\/a><\/strong><strong> to widen to 1.5-2.4% of GDP in FY 2027.<\/strong> The revisions came on the back of revised crude assumptions of USD 90-95 \/ bbl plus rising gas and fertilizer import costs.<\/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\u2019s next<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The RBI\u2019s weekly FX reserves data due Friday will indicate whether drawdowns are accelerating.<\/strong> Markets will track whether state refiners move on pump prices before or after Prime Minister Narendra Modi lands in Abu Dhabi. Any tightening of remittance limits or fresh RBI measures on FX outflows reads as escalation.<\/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\/crude\/\">Crude<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/mena-india\/tag\/economy\/\">Economy<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/mena-india\/tag\/india-focus\/\">India Focus<\/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=\"89566\" 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=\"89566\">\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\">TRADE<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/mena-india\/2026\/05\/13\/the-first-piece-of-indias-gcc-trade-architecture-is-coming-online\/\">\r\n                            Muscat first                        <\/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\/13\/the-first-piece-of-indias-gcc-trade-architecture-is-coming-online\/\" 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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Oman\u2019s long, open coastline and ports at Salalah, Duqm, Sur, and Sohar \u2014 all on the Arabian Sea \u2014 offer uninterrupted flows and relative insulation from regional disruptions, he adds.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong><br \/>The trade-flow data is already there: <\/strong>India\u2019s exports to the Gulf have been largely flat since the war, but <a target=\"_blank\" href=\"https:\/\/enterpriseam.com\/mena-india\/2026\/04\/22\/this-afternoon-adnic-enters-gift-city-with-reins-licence-india-gulf-trade-falls-up-to-66-in-march\/\" style=\"\">imports from Oman jumped 112% in March<\/a>. \u201cOmani exports of energy, fertilizer, and oil derivatives surged in March due to the closure of the Strait of Hormuz,\u201d former Ambassador Anil Wadhwa tells us. \u201cPresently, Oman is acting like an export hub for goods traffic from the Gulf countries to India\" \u2014 bypassing Hormuz \u2014 with part of the spike \u201cdiversion-led and expected to normalize once shipping routes stabilize,\u201d Mukul adds. The commercial logic underwrites the geographic one: shipping rates and war-risk premia on Oman-routed cargoes are running lower than on Hormuz-routed alternatives, Wadhwa adds.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Geography and neutrality are assets: <\/strong>Oman\u2019s \u201crole as a mediator in the run-up to the US-Iran conflict and the relative absence of US assets in its territory\u201d have contributed to its stability, Wadhwa notes. Due to the absence of passage through the Hormuz, shipping and war-risk ins. rates are lower in the case of shipments to and from Oman, he adds.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>There\u2019s a structural insulation that predates the war. <\/strong>The Oman India Fertilizer Company produces urea in Oman, with India contractually committed to the <a target=\"_blank\" href=\"https:\/\/m.economictimes.com\/news\/economy\/foreign-trade\/india-signs-3-year-import-deal-with-omifco-for-1mt\/year-of-urea-reports\/articleshow\/89461530.cms\" style=\"\">bulk offtake under a long-term agreement<\/a>. The joint venture keeps fertilizer imports steady regardless of regional shocks \u2014 exactly the kind of architecture every other Gulf supplier relationship now needs.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The Cepa will go hot fast<\/strong>, with 99% of India's export value to Oman becoming dutyfree on day one \u2014 no phase-in. Signed last December, the agreement was expected to ramp through 2026 \u2014 it is now arriving in the middle of a war that has made Omani supply routes structurally more valuable than they were when the Cepa was first negotiated. India's FY 25 imports from Oman ran USD 6.5 bn against a USD 2.4 bn trade deficit, largely energy-driven.<\/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 FTA timing coincides with New Delhi publicly flagging risks of a war-driven economic shock, FX pressures, and stress across key trade corridors. Set against this backdrop, the Cepa\u2019s rollout and Modi\u2019s UAE visit show a clear direction \u2014 India\u2019s response to the war is not a pullback but a tighter economic and diplomatic integration with the Gulf to secure its supply chains and safe-harbour trade.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>What\u2019s next: <\/strong>\u201cA high-level delegation from Oman is visiting India within a week to work on identifying new areas of imports and exports,\u201d Wadhwa tells us. \u201cMajor disruption would only arise if large-scale GCC-wide conflict breaks out,\u201d he adds \u2014 a tail risk, not the base case.<\/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\/cepa\/\">CEPA<\/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\/india-oman-trade\/\">India-Oman trade<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/mena-india\/tag\/trade\/\">Trade<\/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=\"89568\" 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=\"89568\">\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\">ECONOMY<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/mena-india\/2026\/05\/13\/moodys-shaves-1-5-points-off-indias-growth-trajectory\/\">\r\n                            Six and falling                        <\/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\/13\/moodys-shaves-1-5-points-off-indias-growth-trajectory\/\" 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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This is the first major rating agency call to put a number on what this morning\u2019s emergency measures reporting and the INR\u2019s 95.62 record close already implied.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The Hormuz channel: <\/strong>Some 90% of India's LPG imports move through the Strait of Hormuz. The country imports 60% of its LPG and remains heavily exposed on crude and LNG \u2014 making Gulf transit disruption a direct inflation and a balance-of-payment risk, Moody\u2019s says. Higher fuel and fertilizer costs are now hitting consumption, corporate margins, and the room Delhi has for planned capital expenditure simultaneously.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>There\u2019s a cushion: <\/strong>Coal still generates nearly 70% of India\u2019s electricity, and renewables capacity is expanding. The harder exposure sits in crude, LNG, and LPG \u2014 the fuels tied most directly to Gulf shipping, USD payments, and import costs.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Supply diversion:<\/strong> India is already pulling more Russian barrels \u2014 the shift Gulf producers have been resisting for two years. Japan and South Korea are tilting toward US crude. Strategic reserves cushion the near term, but Moody\u2019s says they offer only short-term protection if shortages tighten over the next few months.<\/p>\n<p><strong>Why it matters for the corridor: <\/strong>A Moody's cut re-prices Indian sovereign and corporate debt across the Gulf. Sovereign funds Adia, PIF, and Mubadala, along with the major Emirati banks, all run India books.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>What\u2019s next:<\/strong> If shipping flows stabilize and energy supplies improve, Moody's expects pressure to ease through 2027. If disruption drags on, 6% becomes the base case to test against higher inflation, a widening import bill, and tighter fiscal space. Both S&P and Fitch have maintained India on a positive outlook since late 2024, and both are now overdue for a rating review.<\/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\/economy\/\">Economy<\/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-gdp\/\">India GDP<\/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=\"89570\" 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=\"89570\">\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\">TRADE<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/mena-india\/2026\/05\/13\/saudi-arabia-and-india-are-formalizing-the-fertilizer-corridor\/\">\r\n                            The phosphate handshake                        <\/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\/13\/saudi-arabia-and-india-are-formalizing-the-fertilizer-corridor\/\" 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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Riyadh and Delhi are moving to bypass volatile spot markets with a structural bilateral arrangement, just as the war repricing global fertilizer flows make ad-hoc sourcing untenable.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>REMEMBER- <\/strong>Just yesterday, state-run Indian Potash Ltd (IPL) <a target=\"_blank\" href=\"https:\/\/www.argusmedia.com\/en\/news-and-insights\/latest-market-news\/2825781-india-s-ipl-secures-over-1.3mn-t-of-dap-update\" style=\"\">secured over 400k tons<\/a> of diammonium phosphate (DAP) from Saudi suppliers \u2014 including Maaden and VB Venture \u2014 in a single tender. India is the world's largest urea importer, and its <a target=\"_blank\" href=\"https:\/\/enterpriseam.com\/mena-india\/2026\/04\/24\/fertilizer-joins-crude-oil-as-indias-top-geopolitical-vulnerability\/\" style=\"\">fiscal deficit is highly sensitive<\/a> to fertilizer subsidy costs.<strong><\/p>\n<p>Why it matters: <\/strong>Saudi Arabia, home to 7% of <a target=\"_blank\" href=\"https:\/\/saudipedia.com\/en\/phosphate-in-saudi-arabia\" style=\"\">global phosphate reserves<\/a>, is pitching itself as a structural fertilizer supplier to one of the world's largest buyers. Securing direct access to <a target=\"_blank\" href=\"https:\/\/maaden.com\/discover-us\/core-business-units\/phosphate\" style=\"\">Maaden's Wa\u2019ad Al Shamal complex<\/a> \u2014 Saudi's flagship phosphate operation \u2014 gives Delhi a hedge against <a target=\"_blank\" href=\"https:\/\/enterpriseam.com\/mena-india\/2026\/04\/24\/fertilizer-joins-crude-oil-as-indias-top-geopolitical-vulnerability\/\" style=\"\">expensive Moroccan imports<\/a> and a Russian supply chain still exposed to sanctions risk. For Riyadh, the framework points toward a long-term anchor buyer for the mining expansion the Kingdom has been building out for a decade.<\/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\">A Gulf-led fertilizer corridor<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>India's urgency shows in the data \u2014 a single tender just absorbed roughly a quarter of its annual DAP imports. <\/strong>New Delhi is on track to import a record 1.35 mn tons of DAP this season as war-driven supply disruptions tighten global availability \u2014 buying at a scale that will further squeeze supplies and support prices already elevated on higher energy and freight costs.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The nitty gritty: <\/strong>State-run IPL agreed to purchase 765k tons at about USD 930 a ton for west coast delivery and another 581k tons at roughly USD 935 per ton for the east coast \u2014 after receiving bids for nearly double the initial tender size, <a target=\"_blank\" href=\"https:\/\/www.reuters.com\/world\/india\/india-set-record-dap-fertiliser-import-single-tender-amid-supply-fears-2026-05-12\/\" style=\"\">Reuters<\/a> reports.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The war is forcing India to lock in larger volumes at higher prices, and the Gulf is the structural beneficiary. <\/strong>Supplies for the record DAP tender will be sourced largely from Saudi Arabia, Egypt, Morocco, and Russia \u2014 but Saudi's phosphate scale and the new bilateral framework position it as the anchor relationship. This follows a separate <a target=\"_blank\" href=\"https:\/\/enterpriseam.com\/mena-india\/2026\/04\/29\/this-afternoon-fertilizer-subsidy-bill-in-india-is-set-to-rise-20\/\" style=\"\">record 2.5 mn-ton urea purchase<\/a> last month, struck at double pre-war pricing.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>IN CONTEXT- <\/strong>Egypt's fertilizer producers are filling gaps elsewhere. Local firms just secured a 15% share of an international tender to supply India with <a target=\"_blank\" href=\"https:\/\/enterpriseam.com\/egypt\/2026\/05\/12\/local-fertilizer-firms-to-supply-india-with-350k-tons\/\" style=\"\">2.5 mn tons of nitrogen fertilizers<\/a> this June.<\/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\/india-saudi-arabia-relations\/\">India-Saudi Arabia relations<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/mena-india\/tag\/trade\/\">Trade<\/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=\"89572\" 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=\"89572\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">7<\/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\/13\/gulf-swfs-caught-in-the-middle-as-pimco-and-apollo-split-on-private-credit-valuation\/\">\r\n                            The black box of private credit valuations                        <\/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\/13\/gulf-swfs-caught-in-the-middle-as-pimco-and-apollo-split-on-private-credit-valuation\/\" 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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Pimco strategist Lotfi Karoui says yes in <a target=\"_blank\" href=\"https:\/\/www.pimco.com\/eu\/en\/insights\/daily-pricing-is-not-daily-liquidity\" style=\"\">a note to clients<\/a>, arguing that the push toward more frequent marks does little to \u201caddress the market\u2019s inherent structural constraints, including a lack of true price discovery.\u201d<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Apollo is all for standardizing the opaque:<\/strong> This comes a week after Apollo CEO Marc Rowan committed on a <a target=\"_blank\" href=\"https:\/\/ent.news\/2026\/5\/702.pdf\" style=\"\">1Q earnings call (pdf)<\/a> to provide daily mark-to-market valuations across roughly <a target=\"_blank\" href=\"https:\/\/www.bloomberg.com\/news\/articles\/2026-05-11\/pimco-scorns-daily-marks-on-private-assets-that-apollo-heralded\" style=\"\">USD 830 bn of the firm\u2019s credit assets<\/a> by the end of September. \u201cWe have never seen a market where enhanced liquidity and enhanced transparency [do] not result in tremendous growth for the asset class,\u201d Rowan said, framing it as a land grab dressed as reform. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>What\u2019s daily marking again? <\/strong>Daily marking updates the estimated value of private loans every day rather than quarterly. Because these assets don\u2019t trade, the marks come from internal models, comparable transactions, company performance, and credit spreads \u2014 and those valuations flow directly into the portfolio values investors see.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>That\u2019s where Pimco says the cracks start to show. <\/strong>Karoui\u2019s point is that if three different managers are holding the exact same loan and arriving at three different valuations \u2014 averaging five points apart by year-end 2025 \u2014 then the issue isn\u2019t how often you refresh the number. It\u2019s that there\u2019s no real price discovery underneath it in the first place. \u201cThey only increase the perception of liquidity without truly improving liquidity,\u201d he wrote, adding that \u201cat best, [daily marks] add marginal transparency and some reputational pressure that may rein in the most extreme mark outliers.\u201d<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Why we think<\/strong><strong> Apollo still comes out ahead: <\/strong>Private credit didn\u2019t grow into a USD 1.8 tn market because investors demanded perfect price discovery \u2014 it grew because LPs were willing to tolerate imperfect marks in exchange for yield and illiquidity premium. As the asset class grows, daily pricing can start to look less like a transparency exercise and more like the infrastructure layer needed to institutionalize the market, which naturally favors firms like Apollo that have the scale to make daily marks the industry norm, and the consolidation that follows.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Regional SWFs have real skin in the game here. <\/strong>Some of the world\u2019s largest sovereign allocators (think PIF, Mubadala, Adia, QIA, and ADQ) are heavily exposed to the same private credit complex now debating how these assets should actually be valued, making this more than a technical fight between two US asset managers. The methodology Apollo and Pimco are arguing over today will ultimately shape how Gulf LPs measure returns and assess risk tied to some of the largest private credit plays in the market.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>REMEMBER- <\/strong>PIF\u2019s revised 2026-2030 strategy <a target=\"_blank\" href=\"https:\/\/enterpriseam.com\/egypt\/2026\/05\/06\/gulf-swfs-have-become-the-swing-vote-in-global-capital-flows\/\" style=\"\">cuts international allocations to 20% from 30%<\/a>, which means Gulf SWFs are simultaneously reducing international exposure and concentrating their remaining exposure into fewer mega-managers \u2014 at exactly the moment those managers\u2019 valuation methodology is being publicly contested.<\/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<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- xx<\/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\">74,820<\/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: -12.2%)<\/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\/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\">23,449<\/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: -10.2%)<\/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\/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\">9,689<\/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: -3.04%)<\/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\">5,730<\/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\">-0.9% (YTD: -5.2%)<\/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\/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\">11,062<\/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% (YTD: +5.4%)<\/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.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\">53,422<\/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\">-1.1% (YTD: +27.7%)<\/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\">8,537<\/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\">-1.09% (YTD: +2.8%)<\/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\/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\">10,470<\/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: -2.7%)<\/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\/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\">7,400<\/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: +8.1%)<\/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><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\">10,307<\/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: +3.7%)<\/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\/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\">5,828<\/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: +0.6%)<\/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\/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 107<\/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% <\/p>\n<\/td>\n<\/tr>\n<tr style=\"\">\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:50.2pt;border-top-border-bottom-style:solid\"><\/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 2.84<\/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\">+\/- xx% <\/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>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 4,702<\/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% <\/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 81,219<\/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% <\/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=\"89574\" 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\/13\/89574\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-89574\" class=\"content-area-description single-story post-89574 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>Modi\u2019s UAE-first tour | Emergency curbs | India\u2019s first GCC trade corridor? | Moody\u2019s slashes India\u2019s 2026 growth forecasts<\/p>\n","protected":false},"featured_media":89559,"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-89558","issue","type-issue","status-publish","has-post-thumbnail","hentry","wpautop","entry"],"acf":{"mongo_id":"cfbcf1a4-973d-4421-8858-de00b652e758","teaser":"Modi\u2019s UAE-first tour | Emergency curbs | India\u2019s first GCC trade corridor? | Moody\u2019s slashes India\u2019s 2026 growth forecasts","photo_url":"https:\/\/ent.news\/2026\/5\/736.jpg"},"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v27.1 (Yoast SEO v27.1.1) - 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