Global

Five Indians rescued after projectile strikes tanker in Strait of Hormuz

• Five Indian nationals were rescued from Kuwait-flagged tanker MT Kazimah III
• The Indian Embassy in Oman coordinated the rescue
• Hormuz shipping risks matter to Indian oil importers and shipping companies

Fire and smoke reported near Aramco facility in Riyadh amid Houthi tensions

• Fire and smoke were seen near an Aramco facility in Riyadh
• Reuters cited a witness; reports linked the incident to rising Houthi tensions
• Escalation could lift oil prices, affecting Indian refiners and oil marketing companies

Neelkanth Mishra Says Global Market Stress Already Visible, Fuel Prices And Bond Yields Rising

• Global stress is feeding into fuel demand, bond yields and borrowing costs
• India is seeing revived credit growth and sticking to fiscal discipline
• Higher borrowing costs may pressure Indian borrowers, while revived credit growth supports banks

Trump rules out a US diesel export ban

• Trump said the US would not ban diesel exports
• European nations will expand fuel availability within the market
• Lower risk of export curbs supports fuel availability for Indian refiners and fuel buyers

US-Russia talks on Ukraine involve multi-billion dollar oil deal, NYT reports

China opens anti-dumping probe into EU chemical imports ahead of trade talks

• China launched an anti-dumping probe into EU imports of p-nitrotoluene
• Beijing rejected claims that state support drives Chinese manufacturers’ competitiveness and threatened countermeasures against EU moves
• Trade diversion or tariff shifts could affect Indian specialty-chemical producers

Pakistan summons Indian diplomat over killing of two civilians at border

Lack of US-India deal will not have an adverse impact on India’s growth, says Panagariya

• Panagariya says lack of a US-India deal will not adversely affect India’s growth
• Trade policy uncertainty matters to Indian exporters, though Panagariya says growth will not be hurt without a deal

FM Sitharaman Seeks Greater Certainty In Global Trade, Flags Risks Of Market Fragmentation

• Nirmala Sitharaman called for greater certainty in global trade and flagged risks from market fragmentation
• Trade-dependent Indian exporters are exposed to shifts in global trade and market fragmentation

Dubai Crown Prince praises Indian flydubai pilot after cockpit attack

• Sheikh Hamdan bin Mohammed praised pilot Smit Machchhar after the cockpit attack forced Flight FZ1073 to

140 Indians discharged from Russian army: Govt seeks Moscow update on 55, 'balanced' trade push

• Around 140 Indians have been discharged from the Russian army
• India sought an update from Moscow on 55 Indians

Vast majority of G20 countries reject US stance on excess industrial capacity, forced labour

• Only Mexico and Argentina joined the US statement on forced labour in supply chains
• The vast majority of G20 countries rejected the US stance on excess industrial capacity and forced labour

Trump to speak at Ohio rally as Republicans defend Senate seat in close race

US-China tensions persist despite Trump-Xi summit's rare warmth: Trump aide

• A Trump aide said serious differences persist between the US and China despite the summit’s rare warmth

Nasdaq hits record as weak US jobs data cools rate-hike bets

• Nasdaq Composite hit a record high after disappointing US jobs data
• Lower Treasury yields and oil prices accompanied the rise; Nike shares fell on its forecast

Trump declines to reveal next move on Iran, says conflict 'won't be long'

• Trump predicted oil prices would fall once the Iran conflict ends, but gave no details of his next move
• Lower crude prices would help Indian fuel importers but pressure upstream producers such as Oil India

What’s driving the global bond sell-off?

• The most-cited factors behind the global bond sell-off present a mixed picture
• Global bond yields can affect Indian borrowing costs and rate-sensitive stocks

US Debt Path Leaves It 'Increasingly Exposed': Report

• Scope Ratings warned that large US deficits and rising debt leave the country increasingly exposed to fickle investors

Trump says US to send one-time $90 payment to 20 million seniors enrolled in Medicare

Piyush Goyal highlights G20 efforts to tackle predatory pricing and overproduction challenges

• G20 ministers discussed curbing the effects of government-backed excess manufacturing capacity
• Global action on excess capacity could affect Indian manufacturers facing predatory pricing

Goyal pitches India as global trade hub, eyes 75-80% of world economy

• India is pursuing free trade agreements with 31 nations
• Piyush Goyal said India is targeting economies representing 75-80% of the world economy
• Trade deals could affect Indian exporters across sectors, including manufacturing and services

Saudis plan assault on Houthis to break Red Sea chokehold

Merz to meet frontrunners for Lagarde job as ECB race heats up

Global economic relations must remain open and rule-based, says FM Sitharaman

Saudi Arabia Weighs Multi-Front Offensive Against Houthis: Reports

• Saudi Arabia is weighing a possible offensive against Iran-backed Houthi forces in Yemen
• The plan aims to regain control of the strategic Bab el-Mandeb strait

FAA says Boeing 737 Max software glitch poses no safety risk

• FAA said the glitch affecting certain flight computers does not pose a safety risk
• The software issue could affect procedures during certain landings and increase pilot workload
• FAA will hold a safety review on Friday
• Certification progress may benefit Boeing, while reassuring investors in global aviation and airline stocks

Rising bond yields, US midterms and earnings challenge stocks’ usual fourth-quarter strength

• US stocks typically perform well in the fourth quarter
• Rising bond yields, midterms and earnings pose challenges

North Korea test-fires ballistic missile

• North Korea fired a ballistic missile toward the sea on Saturday

Unusual rest breaks for Xi Jinping sucked hours out of summit With Trump

How AI is redefining Wall Street jobs — and boosting demand for this new 'hottest skill' by 1,721%

• Banks are ramping up hiring for AI engineers skilled in coordinating teams of specialized agents

Nasdaq Leads Stocks Higher as Hiring Softens

• Nasdaq led stocks higher as hiring softened
• Bond yields turned higher and oil fell as the G-7 agreed to release diesel and crude
• Lower crude prices can ease costs for Indian oil-marketers, airlines and other fuel-intensive sectors

Trump says South Korea deal includes an $8.4 billion oil project

• The project will fund enhanced oil recovery
• It adds to a broader US-South Korea investment package

FlyDubai incident: Co-pilot was barred by Oman over alleged extremist views

• Oman had barred the FlyDubai co-pilot over concerns about alleged extremist views
• Officials said he nearly crashed a Tel Aviv-bound flight with 182 people aboard
• The incident may renew aviation-safety scrutiny for Indian airlines, including Air India, SpiceJet and Akasa Air

Fed’s Hammack says there is time to weigh next rate move

Hackers accessed an oil supertanker’s propulsion system near Texas

• Investigators found evidence hackers accessed the propulsion system as the tanker approached Texas

Russian strike damages Kyiv’s Northern Bridge, halting traffic

• Traffic halted after damage to the bridge surface and trolleybus power lines
• Moscow said it also hit a logistics centre

Sea of red for most asset classes

Oman Had Previously Banned the FlyDubai Attacker From Flying

• Oman had previously banned the FlyDubai attacker from flying
• The G-7 agreed to release 100 million barrels of diesel and crude oil

The Underwhelming Jobs Data That Sparked a Stock Rally

• September jobs data eased fears of further rate increases, sending the Nasdaq to an intraday high

At G20, Piyush Goyal rejects dumping concerns

Arctic sea routes boom as Gulf war and global warming divert shipping

• Northern Sea Route transits quadrupled as melting ice opened the route to more shipping
• Vessels are avoiding the Middle East amid the Gulf war

Mexico needs more effort to lower debt, IMF says

Bets on an October Fed rate hike fall as US job market cools

• The US added 29,000 jobs last month, below economists’ forecast of 90,000
• The unemployment rate rose to 4.2%

Russia pledges to continue massive strikes on Kyiv, urges foreign diplomats to leave city

US yields rise, reversing initial reaction to weak jobs report

• US yields rose, reversing their initial reaction to the weak jobs report

Flydubai flight 1073: How passengers and off-duty pilots helped avert a crash

• The incident raised questions about the cockpit attack, passenger intervention and pilot screening

Why Saudi Arabia needs India for its Vision 2030 shift away from oil

Gaza man decries Israeli killing of Christian neighbors, as truce nears a year

George Soros family’s $102 million Democratic funding push ahead of 2026 US midterms - Details here

• The Soros family is funding Democrats with $102 million ahead of the 2026 US midterms

Fed's Goolsbee says rate hike and pause both 'on the table'

Lula or Bolsonaro: Wall Street braces for two wildly different results in Brazil election

• Brazil’s first-round presidential election takes place Sunday, with Wall Street anticipating sharply different market outcomes

Fed officials give hints on rate decision as markets cut October rate hike odds

• Philip Jefferson and John Williams stressed patience and data dependence
• Markets sharply cut October rate hike odds
• Fed rate expectations can affect foreign flows into Indian equities

North Korea's Kim Yo Jong says intermediate-range missile test was conducted

UK Greens Urge Burnham to Put Thames Water in Public Hands Now

Putin warns Russia will use ‘all weapons’ against NATO aggression: Why Kaliningrad is latest flashpoint

• Putin warned Russia would use “all weapons” against NATO aggression
• Kaliningrad is the latest flashpoint in a broader Russia-NATO security dilemma

Private capital is reshaping Hollywood moviemaking

• Private capital is increasingly funding Hollywood movies and changing the types of films being made

Fed may skip October but pull rate hike trigger in December

Ethiopia government forces retake airport in Tigray's capital, sources say

Powerful Explosions Rock Yemen's Capital Sanaa: Report

• Explosions rocked Yemen’s capital, Sanaa, amid renewed clashes

Charting the Global Economy: US Employment Growth Moderates