{"id":90076,"date":"2026-06-03T00:00:00","date_gmt":"2026-06-03T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/mena-india\/?post_type=issue&#038;p=90076"},"modified":"2026-06-03T10:00:25","modified_gmt":"2026-06-03T10:00:25","slug":"omifco-prepares-for-landmark-muscat-ipo","status":"publish","type":"issue","link":"https:\/\/enterpriseam.com\/mena-india\/issues\/omifco-prepares-for-landmark-muscat-ipo\/","title":{"rendered":"Omifco prepares for landmark Muscat IPO"},"content":{"rendered":"<section id=\"90078\" 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=\"90078\">\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\/06\/03\/this-morning-us-proposes-fresh-tariff-on-indian-exports\/\">\r\n                            US proposes fresh tariff on Indian exports                        <\/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\/06\/03\/this-morning-us-proposes-fresh-tariff-on-indian-exports\/\" 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 joint venture is capitalizing on soaring global fertilizer prices, proving the resilience of the India-Oman supply chain as the Hormuz crisis continues. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Meanwhile, trade headwinds are gathering on another front. <\/strong>The US is floating a fresh 12.5% tariff hit on Indian exports, and New Delhi is tightening its grip on silver imports to curb arbitrage and ease pressure on the sliding INR.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Plus:<\/strong> Australia\u2019s AirTrunk has secured the green light for a massive USD 21 bn data center hub in Mumbai, and Abu Dhabi's Adia has backed precision-cooling manufacturer KRN Heat Exchangers.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>BUT FIRST- The latest war updates: <\/strong>Iran <a target=\"_blank\" href=\"https:\/\/www.centcom.mil\/MEDIA\/PUBLIC-RELEASES\/Article\/4507109\/us-partner-forces-defend-against-aggressive-iranian-behavior\/\" style=\"\">launched fresh attacks<\/a> on Kuwait and Bahrain last night \u2014 some failed en route, and others were intercepted. In response, US forces launched \u201cself-defense\u201d strikes on Iran\u2019s Qeshm Island. <\/p>\n<p class=\"tag-border-left\">More US tariffs? <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><a id=\"wwtt1\"><\/a>  <strong>The<\/strong><strong> Office of the US Trade Representative (USTR) is floating a 12.5% <\/strong><strong>additional duty on Indian goods <\/strong>following an investigation alleging the country\u2019s failure to curb forced labor in the supply chain, <a target=\"_blank\" href=\"https:\/\/www.bloomberg.com\/news\/articles\/2026-06-03\/us-proposes-broad-tariffs-of-at-least-10-citing-forced-labor?srnd=phx-india-v2\" style=\"\">Bloomberg<\/a> reports. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>India has denied USTR\u2019s allegation that it failed to impose prohibitions on forced labor in goods exported to the US and has asked Washington to drop the probe.<\/strong> The proposal comes as US and Indian negotiators are in New Delhi working on a bilateral trade agreement, with New Delhi expected to push for relief from the investigation and lower tariffs compared to rival exporters.<\/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 proposed 12.5% duty adds an export-side risk for India, while the Iran war pushes up oil and gas prices. The final impact will depend on the product list, exemptions, and whether India secures relief through trade talks. <\/p>\n<p class=\"tag-border-left\">Keep that silver away<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><a id=\"wwtt2\"><\/a>  <strong>India<\/strong><strong> has tightened restrictions on silver imports<\/strong>, applying licensing requirements to silver grains, powder, and other forms containing 99.9% purity, as per a <a target=\"_blank\" href=\"https:\/\/ent.news\/2026\/6\/246.pdf\" style=\"\">government order (pdf)<\/a>. This is the latest move in New Delhi\u2019s efforts to curb non-essential imports and ease pressure on the sliding INR.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>What\u2019s changed: <\/strong>Importers will now require prior authorization from the Directorate General of Foreign Trade (DGFT) before bringing in the metal. This follows last month\u2019s decision to place silver bars and semi-manufactured silver products under the \u2018restricted\u2019 category and to raise import duties on gold and silver to 15% from 6%.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>A ballooning import bill? <\/strong>The crackdown comes after India spent a record USD 12 bn on silver imports in FY 2026, up from USD 4.8 bn last year. Imports surged 157% y-o-y to USD 411 mn in April alone. While silver is used in jewelry, coins, and industrial applications, such as solar panels and electronics, recent demand has been driven by investors. Record inflows into silver exchange-traded funds have amplified imports, raising concerns about the fallout on India's trade balance as energy prices continue to inflate the import bill.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Why it matters:<\/strong> India sources much of its silver from the UAE, the UK, and China. The latest restrictions add another layer of oversight for bullion traders and refiners operating along the India-Gulf corridor. <\/p>\n<p><strong>The UAE angle: <\/strong>While India raised silver import duties to 15%, it maintains a concessional 7% rate for UAE imports under the India-UAE CEPA. The wider duty gap has raised concerns that traders could reroute global silver shipments through Dubai to seek lower tariffs. By introducing licensing mandates, New Delhi is trying to curb arbitrage-driven imports and retain greater control over silver inflows.<\/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\"> All red for Indian stocks <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><a id=\"wwtt3\"><\/a> <strong>Indian<\/strong><strong> equities slipped again today amid foreign investor sell-off. <\/strong>Nifty 50 was down 0.89%, while the BSE Sensex fell 1.06% in early trading, putting both benchmarks on track for a fifth successive trading session.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>What\u2019s driving the decline: <\/strong>Renewed hostilities in the Gulf and stalled US-Iran peace talks are keeping crude prices elevated, raising inflation, currency, and growth risks for India, the world\u2019s third-largest oil importer and consumer. Foreign investors have pulled a record USD 26.8 bn from Indian equities so far this year. IT stocks led the decline, with the Nifty IT index falling 4.3% after gaining 7% over the previous two sessions. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">^^ We have more on declining Indian equity markets and the factors driving the sell-off in this afternoon\u2019s Planet Finance. <\/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\"> Happening today<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Venezuela\u2019s<\/strong><strong> Acting President Delcy Elo\u00edna Rodr\u00edguez G\u00f3mez begins a five-day visit to India today<\/strong>, putting energy ties back on the India-Venezuela agenda, according to the <a target=\"_blank\" href=\"https:\/\/www.mea.gov.in\/press-releases?dtl\/41254\/Visit_of_Acting_President_of_the_Bolivarian_Republic_of_Venezuela_to_India_June_03__07_2026\" style=\"\">External Affairs Ministry<\/a>. Rodr\u00edguez will meet with Prime Minister Narendra Modi, and talks are expected to cover energy, trade, investment, pharma, healthcare, transportation, and renewable energy.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Hormuz hedge: <\/strong>The visit comes as India is buying more Venezuelan crude, while Gulf supplies remain exposed to the Strait of Hormuz disruption. India was the second-largest importer of Venezuelan oil in May, buying 427k bbl \/ d, behind only the US, <a target=\"_blank\" href=\"https:\/\/www.reuters.com\/world\/india\/venezuela-interim-president-rodriguez-visit-india-june-3-7-2026-06-02\/\" style=\"\">Reuters<\/a> reports. <\/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>No single story is dominating the global front pages this afternoon <\/strong>\u2014 but among the stories making headlines: <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#1- SpaceX will reportedly raise USD 75 bn in its highly-anticipated IPO<\/strong>, selling 555.6 mn shares at USD 135 a pop, unnamed sources told <a target=\"_blank\" href=\"https:\/\/www.reuters.com\/business\/media-telecom\/spacex-plans-raise-75-billion-ipo-135-per-share-source-says-2026-06-03\/\" style=\"\">Reuters<\/a>. These figures put the firm\u2019s valuation at USD 1.75 tn. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#2- Microsoft <\/strong><strong><a target=\"_blank\" href=\"https:\/\/www.cnbc.com\/2026\/06\/02\/microsoft-unveils-new-ai-models-lessen-reliance-on-openai-lower-costs.html\" style=\"\">launched<\/a><\/strong><strong> its own AI offerings<\/strong> at its Build conference to compete with proprietary models, including coding assistants and reasoning models, which would lower costs and reliance on OpenAI products. The tech giant also unveiled Project Solara, a <a target=\"_blank\" href=\"https:\/\/www.reuters.com\/world\/china\/microsoft-expected-showcase-new-pc-cloud-ai-tools-developer-conference-2026-06-02\/\" style=\"\">family of prototype devices<\/a> designed to host AI agents that carry out complex tasks autonomously.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#3- Investors seem bullish and unafraid: <\/strong>Concerns over inflation and elevated asset prices are trumped by optimistic sentiments, as financial markets currently exhibit \u201cmore greed than there is fear,\u201d Goldman Sachs CEO David Solomon <a target=\"_blank\" href=\"https:\/\/www.ft.com\/content\/09d94a90-a228-4c86-b01c-f9cb99d4e3a8?syn-25a6b1a6=1\" style=\"\">said<\/a>. He added that so long as investors remain bullish, there is ample liquidity to absorb massive upcoming IPOs from companies like SpaceX, Anthropic, and OpenAI.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#4- The UN General Assembly <\/strong><strong><a target=\"_blank\" href=\"https:\/\/news.un.org\/en\/story\/2026\/06\/1167626\" style=\"\">has elected<\/a><\/strong><strong> its next head. <\/strong>Bangladeshi Foreign Minister Khalilur Rahman narrowly defeated Cyprus\u2019 Andreas Kakouris to secure the presidency of the UN General Assembly. <\/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\">***<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\">\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\/india-us-relations\/\">India-US relations<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/mena-india\/tag\/tariffs\/\">Tariffs<\/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=\"90080\" 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=\"90080\">\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\/06\/03\/all-eyes-on-india-oman-fertilizer-ventures-muscat-listing\/\">\r\n                            Oman India Fertilizer Company plans Muscat listing                        <\/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\/06\/03\/all-eyes-on-india-oman-fertilizer-ventures-muscat-listing\/\" 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 listing will consist entirely of existing shares sold by the three shareholders and is slated for a July listing. Bank Muscat and Soci\u00e9t\u00e9 G\u00e9n\u00e9rale will be global coordinators on the issue.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>War boosts fertilizer economics: <\/strong>Omifco operates two ammonia plants with an annual capacity of 1.1 mn tons and two urea plants with a capacity of 1.6 mn tons. The company expects revenue to rise 40% in the second quarter as global fertilizer prices climb amid disruptions to trade flows and supply chains following the Strait of Hormuz crisis, CEO Ahmed Al Marhoubi told the news outlet. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Why it matters: <\/strong>While the Iran war has resulted in a near-total closure of the Strait of Hormuz, Omifco\u2019s production facilities in Sur <a target=\"_blank\" href=\"https:\/\/enterpriseam.com\/mena-india\/2026\/04\/24\/fertilizer-joins-crude-oil-as-indias-top-geopolitical-vulnerability\/\" style=\"\">sit entirely outside the chokepoint on Oman\u2019s eastern coastline<\/a>. The company maintained uninterrupted exports, capitalizing on a four-year peak in global nitrogen prices. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>An India-Oman corridor asset:<\/strong> Omifco sits at the heart of India\u2019s fertilizer supply chain, supplying urea to one of the world\u2019s largest importers through a long-standing bilateral partnership. Between 2023 and 2025, India\u2019s agrarian sector <a target=\"_blank\" href=\"https:\/\/www.omanobserver.om\/article\/1190550\/business\/markets\/omifco-plans-25pc-ipo-as-oman-lines-up-major-industrial-listing\" style=\"\">absorbed<\/a> 71% of Omifco\u2019s urea and 61% of its ammonia under long-term offtake agreements.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>What\u2019s next: <\/strong>Omifco is also <a target=\"_blank\" href=\"https:\/\/www.omanobserver.om\/article\/1190550\/business\/markets\/omifco-plans-25pc-ipo-as-oman-lines-up-major-industrial-listing\" style=\"\">evaluating<\/a> a potential expansion that could significantly increase ammonia and urea production capacity, though no final investment decision has been made.<\/p>\n<p class=\"tag-border-left\">Apparel Group\u2019s Mumbai listing <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Dubai<\/strong><strong>-based <\/strong><strong><a target=\"_blank\" href=\"https:\/\/www.apparelgroup.com\/en\/\" style=\"\">Apparel Group<\/a><\/strong><strong> is testing India\u2019s IPO market for its local retail business. <\/strong>The fashion and lifestyle retailer has started preliminary discussions with banks about a possible Mumbai listing of Apparel Group India, <a target=\"_blank\" href=\"https:\/\/www.bloomberg.com\/news\/articles\/2026-06-03\/dubai-based-apparel-group-said-to-explore-ipo-for-india-business?srnd=phx-india-v2\" style=\"\">Bloomberg<\/a> reports, citing people familiar with the matter. The offer could launch later this year or in early 2027. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The India play: <\/strong>Apparel Group India gives the Dubai retailer exposure to India\u2019s consumer and retail market through more than 300 stores across over 50 cities and more than 20 brands, including Victoria\u2019s Secret, Aldo, Crocs, Charles & Keith, Tim Hortons, and Nike Littles. Timing will be the main test, with India\u2019s IPO market cooling as companies delay listings amid Iran-war-linked volatility and foreign investor outflows from the equity market.<\/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-oman-relations\/\">India-Oman relations<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/mena-india\/tag\/ipo\/\">IPO<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/mena-india\/tag\/ipo-watch\/\">IPO WATCH<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/mena-india\/tag\/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=\"90082\" 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=\"90082\">\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\">IPO WATCH<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/mena-india\/2026\/06\/03\/adia-snaps-stake-in-krn-heat-exchangers-in-inr-3-5-bn-institutional-placement\/\">\r\n                            Adia backs KRN Heat Exchangers                        <\/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\/06\/03\/adia-snaps-stake-in-krn-heat-exchangers-in-inr-3-5-bn-institutional-placement\/\" 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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Adia acquired 236k shares \u2014 7.2% of the placement \u2014 marking its first investment in the company. WhiteOak Capital emerged as the largest participant, accounting for 31.6% of the issue, followed by VQ FasterCap and ValueQuest. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Cooling infra warms up investors:<\/strong> Based in Rajasthan, KRN Heat manufactures fin-and-tube heat exchangers used in ACs, refrigeration, and industrial cooling systems \u2014 benefiting from rising demand for cooling equipment linked to data centers, manufacturing expansion, and climate-control infrastructure. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Why it matters: <\/strong>Gulf sovereign capital is eyeing specialized industrial and manufacturing assets linked to AI infrastructure. The latest investment fits within Adia\u2019s push into the infrastructure layer underpinning the global AI buildout. The fund previously invested USD 500 mn in AlphaGen, a US power infrastructure portfolio of over 11 GW, specifically structured to support data centers, and took a stake in Landmark Dividend, a digital infrastructure real estate company with data centers across major US markets. For KRN, the capital raise buffs up its balance sheet and provides a cushion against volatility in key input costs, such as copper and aluminum, supporting future expansion without materially increasing leverage.<\/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\/adia\/\">Adia<\/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\/ipo-watch\/\">IPO WATCH<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/mena-india\/tag\/swf\/\">SWF<\/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=\"90084\" 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=\"90084\">\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\">ECONOMY<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/mena-india\/2026\/06\/03\/india-hits-fiscal-targets-and-sees-export-surge-but-gulf-crisis-squeezes-fuel-shipments\/\">\r\n                            India\u2019s economy holds steady despite Gulf shock                        <\/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\/06\/03\/india-hits-fiscal-targets-and-sees-export-surge-but-gulf-crisis-squeezes-fuel-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(); navigator.clipboard.writeText('https:\/\/enterpriseam.com\/mena-india\/2026\/06\/03\/india-hits-fiscal-targets-and-sees-export-surge-but-gulf-crisis-squeezes-fuel-shipments\/')\">\n                    Copy Link                <\/a>\n\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a target=\"_blank\" href=\"https:\/\/www.facebook.com\/sharer.php?u=https:\/\/enterpriseam.com\/mena-india\/2026\/06\/03\/india-hits-fiscal-targets-and-sees-export-surge-but-gulf-crisis-squeezes-fuel-shipments\/\">\n                    Facebook                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/facebook-icon2.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a target=\"_blank\" href=\"https:\/\/x.com\/intent\/post?text=India hits fiscal targets and sees export surge, but Gulf crisis squeezes fuel shipments&url=https:\/\/enterpriseam.com\/mena-india\/2026\/06\/03\/india-hits-fiscal-targets-and-sees-export-surge-but-gulf-crisis-squeezes-fuel-shipments\/\">\n                    X                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/twitter-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a target=\"_blank\" href=\"https:\/\/www.linkedin.com\/shareArticle?mini=true&url=https:\/\/enterpriseam.com\/mena-india\/2026\/06\/03\/india-hits-fiscal-targets-and-sees-export-surge-but-gulf-crisis-squeezes-fuel-shipments\/&title=India hits fiscal targets and sees export surge, but Gulf crisis squeezes fuel shipments\">\n                    LinkedIn                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/linkedin-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/api.whatsapp.com\/send?text=India+hits+fiscal+targets+and+sees+export+surge%2C+but+Gulf+crisis+squeezes+fuel+shipments+https%3A%2F%2Fenterpriseam.com%2Fmena-india%2F2026%2F06%2F03%2Findia-hits-fiscal-targets-and-sees-export-surge-but-gulf-crisis-squeezes-fuel-shipments%2F\">\n                    WhatsApp                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/whatsapp-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n        <\/ul>\n    <\/div>\n        <\/div>\r\n                    \r\n                <\/div>\r\n\r\n            \r\n            <div class=\"story__body\">\r\n\r\n                <a href=\"https:\/\/enterpriseam.com\/mena-india\/2026\/06\/03\/india-hits-fiscal-targets-and-sees-export-surge-but-gulf-crisis-squeezes-fuel-shipments\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2026\/5\/751.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"90085\" data-permalink=\"https:\/\/enterpriseam.com\/mena-india\/2026\/06\/03\/india-hits-fiscal-targets-and-sees-export-surge-but-gulf-crisis-squeezes-fuel-shipments\/751-jpg-5\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2026\/5\/751.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"751.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2026\/5\/751.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2026\/5\/751.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-90084\" class=\"content-area-description single-story post-90084 post type-post status-publish format-standard has-post-thumbnail hentry category-economy tag-economy tag-enterpriseam-india tag-exports tag-india-focus tag-manufacturing wpautop entry\">\n\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\"> <strong>India\u2019s<\/strong><strong> macroeconomic engines are humming along<\/strong>, with factory output and exports holding their ground even as the ongoing Gulf energy shock casts a long shadow over the nation's import bill, subsidy burden, and trade balance. <\/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\">Factory output beats expectations<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>India\u2019s industrial output expanded 4.9% y-o-y in April<\/strong>, beating the 3.9% expected by economists polled by <a target=\"_blank\" href=\"https:\/\/www.reuters.com\/world\/india\/indias-april-industrial-output-grows-49-first-print-new-data-series-2026-06-01\/\" style=\"\">Reuters<\/a>. Manufacturing led the print with 6.2% growth, supported by a 16% rise in capital goods output. Consumer durables grew 4.3%, consumer non-durables rose 2.8%, and electricity generation increased 4.9%, while mining contracted 5.1%.<\/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\"> Fiscal deficit lands on target<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Closing the books<\/strong><strong>: <\/strong>India\u2019s FY 2026 (ended on 31 March) fiscal deficit came in at INR 15.19 tn (USD 159.9 bn), or 4.4% of GDP, in line with the government's revised estimate. Net tax receipts rose to INR 33 tn, and non-tax revenue increased to INR 6.8 tn.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Spending cuts:<\/strong> The government met the deficit target partly by cutting spending. Total expenditure was around INR 596.91 bn below the revised estimate, <a target=\"_blank\" href=\"https:\/\/www.business-standard.com\/amp\/economy\/news\/govt-slashes-expenditure-by-60k-cr-to-meet-fiscal-deficit-target-in-fy26-126060101963_1.html\" style=\"\">Business Standard<\/a> reports. Revenue spending was cut by INR 266.36 bn, while capital expenditure was reduced by INR 330.55 bn.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The new fiscal year opened with a heavier run rate. <\/strong>April\u2019s fiscal deficit reached 21.4% of the full-year target, compared with 11.9% in the same month last year. Economists flagged risks from higher fertilizer and LPG subsidies, lower excise-duty collections, corporate tax shortfalls, and weaker dividends from oil marketing companies.<\/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\">Exports surge<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Exports grew in double digits during April and May<\/strong>, though full May trade data is due on 15 June. April exports rose 13.78% to USD 43.56 bn, the highest monthly outbound shipment value in more than four years. The trade deficit widened to USD 28.38 bn as imports also rose.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Fuel exports drag:<\/strong> India\u2019s outbound fuel shipments fell sharply in May as refiners kept more supply at home during the Iran war shock, <a target=\"_blank\" href=\"https:\/\/www.bloomberg.com\/news\/articles\/2026-06-02\/india-s-fuel-exports-plunge-in-may-as-domestic-needs-prioritized?srnd=phx-india-v2\" style=\"\">Bloomberg<\/a> reports, citing Kpler data. Shipments of diesel, gasoline, and jet fuel averaged about 878k bbl \/ d in May, down 31% y-o-y, as refinery maintenance, a gasoline export tax and disruptions to incoming supplies reduced exportable volumes.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>LPG priority: <\/strong>India had imported about 90% of its LPG from the Middle East before the war, making cooking-gas supply a policy priority after Hormuz flows were disrupted. Refiners raised LPG output to a record 52k tons \/ d in May, 50% higher y-o-y, but that left fewer barrels available for gasoline and diesel exports.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The export push is now more closely tied to trade negotiations.<\/strong> India is targeting USD 1 tn in exports this year and USD 2 tn over the next five years, according to <a target=\"_blank\" href=\"https:\/\/www.pib.gov.in\/PressReleasePage.aspx?PRID=2262262&reg=3&lang=2\" style=\"\">Commerce and Industry Minister Piyush Goyal<\/a>. <\/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\/exports\/\">exports<\/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                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/mena-india\/tag\/manufacturing\/\">Manufacturing<\/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=\"90086\" 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=\"90086\">\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\">INVESTMENT WATCH<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/mena-india\/2026\/06\/03\/indias-data-center-race-intensifies-with-airtrunks-usd-21-bn-pledge\/\">\r\n                            Australia\u2019s AirTrunk plans major India data center expansion                        <\/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\/06\/03\/indias-data-center-race-intensifies-with-airtrunks-usd-21-bn-pledge\/\" 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(); navigator.clipboard.writeText('https:\/\/enterpriseam.com\/mena-india\/2026\/06\/03\/indias-data-center-race-intensifies-with-airtrunks-usd-21-bn-pledge\/')\">\n                    Copy Link                <\/a>\n\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a target=\"_blank\" href=\"https:\/\/www.facebook.com\/sharer.php?u=https:\/\/enterpriseam.com\/mena-india\/2026\/06\/03\/indias-data-center-race-intensifies-with-airtrunks-usd-21-bn-pledge\/\">\n                    Facebook                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/facebook-icon2.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a target=\"_blank\" href=\"https:\/\/x.com\/intent\/post?text=India\u2019s data center race intensifies with AirTrunk\u2019s USD 21 bn pledge&url=https:\/\/enterpriseam.com\/mena-india\/2026\/06\/03\/indias-data-center-race-intensifies-with-airtrunks-usd-21-bn-pledge\/\">\n                    X                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/twitter-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a target=\"_blank\" href=\"https:\/\/www.linkedin.com\/shareArticle?mini=true&url=https:\/\/enterpriseam.com\/mena-india\/2026\/06\/03\/indias-data-center-race-intensifies-with-airtrunks-usd-21-bn-pledge\/&title=India\u2019s data center race intensifies with AirTrunk\u2019s USD 21 bn pledge\">\n                    LinkedIn                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/linkedin-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/api.whatsapp.com\/send?text=India%E2%80%99s+data+center+race+intensifies+with+AirTrunk%E2%80%99s+USD+21+bn+pledge+https%3A%2F%2Fenterpriseam.com%2Fmena-india%2F2026%2F06%2F03%2Findias-data-center-race-intensifies-with-airtrunks-usd-21-bn-pledge%2F\">\n                    WhatsApp                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/whatsapp-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n        <\/ul>\n    <\/div>\n        <\/div>\r\n                    \r\n                <\/div>\r\n\r\n            \r\n            <div class=\"story__body\">\r\n\r\n                <a href=\"https:\/\/enterpriseam.com\/mena-india\/2026\/06\/03\/indias-data-center-race-intensifies-with-airtrunks-usd-21-bn-pledge\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2026\/6\/235.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"90087\" data-permalink=\"https:\/\/enterpriseam.com\/mena-india\/2026\/06\/03\/indias-data-center-race-intensifies-with-airtrunks-usd-21-bn-pledge\/235-jpg\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2026\/6\/235.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"235.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2026\/6\/235.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2026\/6\/235.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-90086\" class=\"content-area-description single-story post-90086 post type-post status-publish format-standard has-post-thumbnail hentry category-investment-watch tag-ai tag-enterpriseam-india tag-investment-watch tag-technology wpautop entry\">\n\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\"> <strong>Australian<\/strong><strong> data center major AirTrunk has secured approval for a land allotment in Maharashtra to build a 3 GW data center with an investment of USD 21 bn<\/strong>, as per an announcement by the state\u2019s Chief Minister Devendra Fadnavis on <a target=\"_blank\" href=\"https:\/\/x.com\/Dev_Fadnavis\/status\/2061317904445194451\" style=\"\">X<\/a>. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The nitty-gritty: <\/strong>Backed by US investment major Blackstone, AirTrunk operates data centers across Hong Kong, Japan, Malaysia, and Singapore. The proposed plan captures growing demand for AI, cloud computing, and digital infrastructure in India \u2014 with Mumbai already accounting for half of India's data center capacity and priming itself as a regional data hub \u2014 through tax incentives and policy support for foreign operators.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Why it matters:<\/strong> US tech majors are <a target=\"_blank\" href=\"https:\/\/www.reuters.com\/world\/india\/airtrunk-invest-21-billion-india-data-centre-2026-06-01\/\" style=\"\">expected<\/a> to commit more than USD 630 bn to India this year for data and digital infrastructure projects. Reliance Industries and Adani Group have committed some USD 210 bn <a target=\"_blank\" href=\"https:\/\/enterpriseam.com\/mena-india\/2026\/04\/29\/reliance-industries-usd-17-bn-data-centre-opens-investment-window-for-gulf-investors\/\" style=\"\">to AI and data infrastructure earlier this year<\/a>. Together, this capital race to build out AI infrastructure is underpinning India\u2019s next phase of digital growth. AirTrunk, too, is moving to lock up land and power allocations before domestic conglomerates begin to monopolize hyperscale cloud demand in the country.<\/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\">Domestic players want a slice of the AI pie<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>New Delhi-based real estate developer Anant Raj is set to invest INR 250 bn (USD 2.6 bn) to expand data center and cloud services operations in Haryana<\/strong> under an agreement with the state government, <a target=\"_blank\" href=\"https:\/\/www.reuters.com\/world\/india\/indias-anant-raj-invest-26-billion-haryana-data-centre-cloud-services-2026-06-01\/\" style=\"\">Reuters<\/a> reports. The developer is seeking to diversify beyond real estate and is considering a demerger of its digital infrastructure business. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The big picture: <\/strong>India's data-center market, <a target=\"_blank\" href=\"https:\/\/www.reuters.com\/world\/india\/indias-anant-raj-invest-26-billion-haryana-data-centre-cloud-services-2026-06-01\/\" style=\"\">valued<\/a> at about USD 5.6 bn in 2025, is projected to more than double to USD 13.1 bn by 2034, as demand for cloud computing, AI, and data localization drives a new wave of infrastructure investment.<\/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\/ai\/\">AI<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/mena-india\/tag\/investment-watch\/\">INVESTMENT WATCH<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/mena-india\/tag\/technology\/\">technology<\/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=\"90088\" 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=\"90088\">\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\">MOVES<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/mena-india\/2026\/06\/03\/vipul-appointed-indias-ambassador-to-riyadh\/\">\r\n                            India appoints new ambassador to Saudi Arabia                        <\/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\/06\/03\/vipul-appointed-indias-ambassador-to-riyadh\/\" 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(); navigator.clipboard.writeText('https:\/\/enterpriseam.com\/mena-india\/2026\/06\/03\/vipul-appointed-indias-ambassador-to-riyadh\/')\">\n                    Copy Link                <\/a>\n\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a target=\"_blank\" href=\"https:\/\/www.facebook.com\/sharer.php?u=https:\/\/enterpriseam.com\/mena-india\/2026\/06\/03\/vipul-appointed-indias-ambassador-to-riyadh\/\">\n                    Facebook                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/facebook-icon2.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a target=\"_blank\" href=\"https:\/\/x.com\/intent\/post?text=Vipul appointed India\u2019s ambassador to Riyadh&url=https:\/\/enterpriseam.com\/mena-india\/2026\/06\/03\/vipul-appointed-indias-ambassador-to-riyadh\/\">\n                    X                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/twitter-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a target=\"_blank\" href=\"https:\/\/www.linkedin.com\/shareArticle?mini=true&url=https:\/\/enterpriseam.com\/mena-india\/2026\/06\/03\/vipul-appointed-indias-ambassador-to-riyadh\/&title=Vipul appointed India\u2019s ambassador to Riyadh\">\n                    LinkedIn                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/linkedin-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/api.whatsapp.com\/send?text=Vipul+appointed+India%E2%80%99s+ambassador+to+Riyadh+https%3A%2F%2Fenterpriseam.com%2Fmena-india%2F2026%2F06%2F03%2Fvipul-appointed-indias-ambassador-to-riyadh%2F\">\n                    WhatsApp                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/whatsapp-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n        <\/ul>\n    <\/div>\n        <\/div>\r\n                    \r\n                <\/div>\r\n\r\n            \r\n            <div class=\"story__body\">\r\n\r\n                <a href=\"https:\/\/enterpriseam.com\/mena-india\/2026\/06\/03\/vipul-appointed-indias-ambassador-to-riyadh\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2026\/6\/237.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"90089\" data-permalink=\"https:\/\/enterpriseam.com\/mena-india\/2026\/06\/03\/vipul-appointed-indias-ambassador-to-riyadh\/237-jpg\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2026\/6\/237.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"237.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2026\/6\/237.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2026\/6\/237.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-90088\" class=\"content-area-description single-story post-90088 post type-post status-publish format-standard has-post-thumbnail hentry category-moves tag-enterpriseam-india tag-moves wpautop entry\">\n\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\">\n<p class=\"tag-border-left\">Vipul named India\u2019s ambassador to Riyadh<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>India<\/strong><strong> has appointed veteran diplomat Vipul (<\/strong><strong><a target=\"_blank\" href=\"https:\/\/www.linkedin.com\/in\/vipulifs\/\" style=\"\">LinkedIn<\/a><\/strong><strong>) as its next ambassador to Saudi Arabia<\/strong>, placing a seasoned Gulf hand in one of New Delhi\u2019s most strategically important diplomatic postings, as per an External Affairs Ministry <a target=\"_blank\" href=\"https:\/\/www.mea.gov.in\/press-releases?dtl\/41255\/Shri_Vipul_appointed_as_the_next_Ambassador_of_India_to_the_Kingdom_of_Saudi_Arabia\" style=\"\">press release<\/a>. Vipul currently serves as India\u2019s ambassador to Qatar and is expected to assume his new role shortly. The appointment caps nearly a decade of MENA-focused assignments, including his time as India\u2019s Consul General in Dubai from 2017 to 2020 and as Joint Secretary (Gulf) in the foreign ministry from 2020 to 2023. His diplomatic career has also included postings in Cairo, Colombo, and Geneva.<\/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\">Nilesh Ved appointed to UAE-India Business Council<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Nilesh<\/strong><strong> Ved (<\/strong><strong><a target=\"_blank\" href=\"https:\/\/www.linkedin.com\/in\/nilesh-ved-37a90a157\/\" style=\"\">LinkedIn<\/a><\/strong><strong>) has been named the chairman of the UAE-India Business Council\u2019s UAE Chapter<\/strong>, succeeding founding chairman Faizal Kottikollon, as per a <a target=\"_blank\" href=\"https:\/\/www.apparelgroup.com\/en\/news\/nilesh-ved-appointed-chairman-of-the-uaeindia-business-council-uae-chapter\/\" style=\"\">press release<\/a>. Ved is the founder and chairman of AppCorp Holding Global and the owner of Apparel Group, which operates more than 2.5k stores across 14 countries. The Dubai-based retail entrepreneur founded Apparel Group in 1996 and has built massive consumer businesses in the GCC spanning fashion, food and beverage, e-commerce, logistics, and real estate. <\/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\/moves\/\">MOVES<\/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=\"90090\" 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=\"90090\">\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\">ALSO ON OUR RADAR<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/mena-india\/2026\/06\/03\/urban-companys-saudi-ops-move-to-yammak-following-the-closure-of-its-subsidiary\/\">\r\n                            Urban Company winds down Saudi Arabia subsidiary                        <\/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\/06\/03\/urban-companys-saudi-ops-move-to-yammak-following-the-closure-of-its-subsidiary\/\" 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(); navigator.clipboard.writeText('https:\/\/enterpriseam.com\/mena-india\/2026\/06\/03\/urban-companys-saudi-ops-move-to-yammak-following-the-closure-of-its-subsidiary\/')\">\n                    Copy Link                <\/a>\n\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a target=\"_blank\" href=\"https:\/\/www.facebook.com\/sharer.php?u=https:\/\/enterpriseam.com\/mena-india\/2026\/06\/03\/urban-companys-saudi-ops-move-to-yammak-following-the-closure-of-its-subsidiary\/\">\n                    Facebook                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/facebook-icon2.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a target=\"_blank\" href=\"https:\/\/x.com\/intent\/post?text=Urban Company\u2019s Saudi ops move to Yammak following the closure of its subsidiary&url=https:\/\/enterpriseam.com\/mena-india\/2026\/06\/03\/urban-companys-saudi-ops-move-to-yammak-following-the-closure-of-its-subsidiary\/\">\n                    X                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/twitter-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a target=\"_blank\" href=\"https:\/\/www.linkedin.com\/shareArticle?mini=true&url=https:\/\/enterpriseam.com\/mena-india\/2026\/06\/03\/urban-companys-saudi-ops-move-to-yammak-following-the-closure-of-its-subsidiary\/&title=Urban Company\u2019s Saudi ops move to Yammak following the closure of its subsidiary\">\n                    LinkedIn                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/linkedin-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/api.whatsapp.com\/send?text=Urban+Company%E2%80%99s+Saudi+ops+move+to+Yammak+following+the+closure+of+its+subsidiary+https%3A%2F%2Fenterpriseam.com%2Fmena-india%2F2026%2F06%2F03%2Furban-companys-saudi-ops-move-to-yammak-following-the-closure-of-its-subsidiary%2F\">\n                    WhatsApp                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/whatsapp-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n        <\/ul>\n    <\/div>\n        <\/div>\r\n                    \r\n                <\/div>\r\n\r\n            \r\n            <div class=\"story__body\">\r\n\r\n                <a href=\"https:\/\/enterpriseam.com\/mena-india\/2026\/06\/03\/urban-companys-saudi-ops-move-to-yammak-following-the-closure-of-its-subsidiary\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2026\/6\/243.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"90091\" data-permalink=\"https:\/\/enterpriseam.com\/mena-india\/2026\/06\/03\/urban-companys-saudi-ops-move-to-yammak-following-the-closure-of-its-subsidiary\/243-jpg\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2026\/6\/243.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"243.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2026\/6\/243.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2026\/6\/243.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-90090\" class=\"content-area-description single-story post-90090 post type-post status-publish format-standard has-post-thumbnail hentry category-also-on-our-radar tag-also-on-our-radar tag-e-commerce tag-enterpriseam-india tag-gcc tag-india-saudi tag-startups wpautop entry\">\n\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\"> <strong>India<\/strong><strong>-based home services platform Urban Company has wound down its Saudi Arabia step-down subsidiary<\/strong> after the Kingdom\u2019s Commerce Ministry canceled its commercial registration, according to a stock exchange filing (<a target=\"_blank\" href=\"https:\/\/ent.news\/2026\/6\/240.pdf\" style=\"\">pdf<\/a>). The company <a target=\"_blank\" href=\"https:\/\/economictimes.indiatimes.com\/tech\/technology\/urban-company-winds-up-operations-in-saudi-arabia\/articleshow\/131462071.cms?from=mdr\" style=\"\">said<\/a> the dissolution process was voluntary and was first disclosed in November 2025.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Urban Company will continue its presence in KSA through its joint venture with Saudi Manpower Solutions Company, running the Yammak platform<\/strong>. The shift keeps the company in the market while moving the operating structure away from a wholly owned subsidiary model. \u201cYammak has been scaling well with a clear path to profitability, and we remain very excited by the progress so far,\u201d CEO Abhiraj Singh Bhal <a target=\"_blank\" href=\"https:\/\/x.com\/abhirajbhal\/status\/2062034399785623664?s=20\" style=\"\">said on X<\/a>. <\/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\/also-on-our-radar\/\">ALSO ON OUR RADAR<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/mena-india\/tag\/e-commerce\/\">e-commerce<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/mena-india\/tag\/gcc\/\">GCC<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/mena-india\/tag\/india-saudi\/\">India-Saudi<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/mena-india\/tag\/startups\/\">startups<\/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=\"90092\" 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=\"90092\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">8<\/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\/06\/03\/muted-ai-exposure-and-war-spell-trouble-for-indian-equities\/\">\r\n                            Muted AI exposure and war spell trouble for Indian equities as AI shakeout puts other EMs ahead                        <\/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\/06\/03\/muted-ai-exposure-and-war-spell-trouble-for-indian-equities\/\" 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 slide marks a sharp reversal for a market that spent years as one of the standout destinations in emerging markets, drawing investors in with its strong GDP growth, expanding middle class, and young demographic dividend. Two converging forces are now driving the retreat.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The US-Iran conflict has rattled global investor sentiment, but India is absorbing the shock more acutely than most.<\/strong> As the world's third-largest oil importer, India is directly exposed to the elevated oil prices triggered by the conflict. Higher energy costs feed quickly into inflation, widen the current account deficit, and put downward pressure on the INR, which has already fallen from around INR 90 to beyond INR 95 against the USD.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The resulting risk-off sentiment has accelerated foreign outflows that were already underway: <\/strong>India recorded USD 17 bn in outflows <a target=\"_blank\" href=\"https:\/\/www.bloomberg.com\/opinion\/articles\/2025-10-15\/most-sold-emerging-market-is-gripped-by-a-profit-crunch\" style=\"\">by late 2025<\/a> as US tariff pressures and weaker global sentiment began to bite, with overseas ownership of NSE-listed firms falling to under 17% \u2014 around a 15-year low.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The second headwind is structural and longer-term, but investors are pricing it in now.<\/strong> India's economic model has long relied on a large, skilled, English-speaking workforce to power its services and outsourcing sectors \u2014 but that is precisely the category of labour most exposed to automation in the current AI cycle. That could threaten a core pillar of India\u2019s GDP, and \u2014 unlike Taiwan or South Korea \u2014 India has a limited presence in the semiconductor and AI infrastructure supply chains that stand to benefit most from the current technology wave.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Despite the foreign exodus, there\u2019s still been activity. <\/strong>The IPO market closed 2025 with a <a target=\"_blank\" href=\"https:\/\/enterpriseam.com\/mena-india\/2025\/12\/29\/india-closes-usd-22-bn-ipo-year-as-domestic-investors-take-the-lead\/\" style=\"\">record USD 22 bn<\/a> raised across more than 200 approved listings. The caveat: 75% of allocations were absorbed by domestic institutions and retail investors.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Who's picking up India's slack? <\/strong>The capital rotating out of India is, in part, finding a home in markets better positioned for the AI era. Taiwan and South Korea both have deep semiconductor and AI infrastructure exposure that India lacks. Taiwan <a target=\"_blank\" href=\"https:\/\/www.reuters.com\/world\/asia-pacific\/indias-fifth-spot-global-market-cap-list-under-threat-taiwan-closes-2026-05-26\/\" style=\"\">has been climbing toward<\/a> India's spot as the fifth-largest global equity market by capitalization \u2014 driven largely by TSMC, which climbed more than 25% in April alone. South Korea's Kospi has recently hit a record high.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">\n<p class=\"tag-border-left\">MARKETS THIS MORNING- <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Japan\u2019s Nikkei hit record highs in early trading<\/strong>, echoing gains felt across Wall Street. The benchmark was up over 2% this morning with gains across automakers and tech stocks fueling the rally. The Shanghai Composite recorded at more modest gains, while the Hang Seng was in the red, down 1.2%<\/p>\n<div class='stock-ticker-panel'>\n<table class='table stock-ticker-table markets-table'>\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>Sensex<\/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\">74,368<\/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: -12.7%)<\/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>NIFTY 50<\/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\">23,430<\/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: -10.3%)<\/p>\n<\/td>\n<\/tr>\n<tr class='tr-row-down'>\n<td class='td-list-down'>\n<p><svg class='e-icon e-TypeMarkets1'><use xlink:href='#e-TypeMarkets1'><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>ADX<\/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\">9,562<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">-0.6% (YTD: -4.3%)<\/p>\n<\/td>\n<\/tr>\n<tr class='tr-row-down'>\n<td class='td-list-down'>\n<p><svg class='e-icon e-TypeMarkets1'><use xlink:href='#e-TypeMarkets1'><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>DFM<\/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\">5,673<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">-1.02% (YTD: -6.1%)<\/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>Tadawul<\/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\">11,014<\/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\">-0.01% (YTD: +5%)<\/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>EGX30<\/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\">52,576<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">-0.6% (YTD: +25.6%)<\/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>Boursa Kuwait<\/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\">8,657<\/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: +4.2%)<\/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>QSE<\/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\">10,372<\/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: -3.6%)<\/p>\n<\/td>\n<\/tr>\n<tr class='tr-row-up'>\n<td class='td-list-up'>\n<p><svg class='e-icon e-TypeMarkets11'><use xlink:href='#e-TypeMarkets11'><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>S&P 500<\/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\">7,609<\/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: +11.1%)<\/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>FTSE 100<\/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\">10,351<\/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: +4.2%)<\/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>Euro Stoxx 50<\/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\">6,086<\/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: +5.09%)<\/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>Brent crude<\/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 98<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">+2.3% <\/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>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 3.2<\/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\">+1.9% <\/p>\n<\/td>\n<\/tr>\n<tr class='tr-row-down'>\n<td class='td-list-down'>\n<p><svg class='e-icon e-TypeMarkets1'><use xlink:href='#e-TypeMarkets1'><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>Gold<\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">USD 4,476<\/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% <\/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>BTC<\/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 66,714<\/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\">-3.7% <\/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=\"90094\" 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\/06\/03\/90094\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-90094\" class=\"content-area-description single-story post-90094 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;\">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>1-6 September (Monday-Saturday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/dubaifashionweek.org\/\" style=\"\">Dubai Fashion Week<\/a><\/span><span style=\"font-weight:400;\">, Dubai Design District. <\/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;\">7 September (Sunday): Opec+ meet to discuss production policy for October. <\/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>9 September (Tuesday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.zawya.com\/en\/press-release\/companies-news\/du-announces-the-third-edition-of-envision-r79dykvz\" style=\"\">Envision 2025<\/a><\/span><span style=\"font-weight:400;\">, Atlantis, The Royal, Dubai. <\/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>Adia backs KRN Heat Exchangers | Clamp down on silver imports | US eyes 12.5% tariff on Indian 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