geopolitical tensions

The Indian rupee hit a historic low against the US dollar, pressured by corporate demand and soaring crude oil prices. Authorities are considering measures like incentivizing foreign currency deposits and easing tax rules for overseas investors to boost dollar inflows.

India's central bank significantly boosted its gold reserves, bringing back 104 metric tonnes domestically between October 2025 and March 2026. This move, amid global geopolitical tensions and a decline in foreign currency assets, saw gold's share in forex reserves rise to 16.7%. Globally, central banks are increasingly repatriating gold, reflecting a growing trend towards bolstering national sovereignty.

Asian markets showed a mixed performance today. Japan's Nikkei 225 reached new record highs, boosted by technology stocks amid the AI boom. However, rising oil prices and geopolitical tensions, particularly concerning Iran, tempered investor sentiment across other regions. Investors are now keenly awaiting key central bank decisions this week.

FIFA President Gianni Infantino has confirmed Iran's participation in the 2026 World Cup, set to be held in the United States, Mexico, and Canada. Despite recent geopolitical tensions and reports of visa issues for Iranian officials, Infantino stressed football's power to unite a divided world, assuring Iran will play in the USA.

JPMorgan Chase CEO Jamie Dimon cautioned that the booming private credit market faces significant challenges when the next credit cycle hits, citing the sector's size and uneven standards. He also highlighted cybersecurity risks, geopolitical instability, and potential inflationary pressures as key concerns for the global economy.

The Pentagon is withdrawing approximately 5,000 US troops from Germany, a move signaling heightened tensions with European allies over the Iran conflict. This decision follows sharp criticism from German Chancellor Friedrich Merz regarding Iran negotiations. The drawdown aims to return US troop levels in Europe to pre-Ukraine war figures, reflecting broader US frustration with NATO allies' perceived lack of support.

UAE motorists will face higher fuel costs in May 2026 as petrol prices see another significant increase. This marks the third consecutive monthly hike, driven by global oil market instability and geopolitical tensions. The latest revisions mean higher expenses for daily commutes and businesses reliant on transportation.

The government assures uninterrupted fuel availability nationwide despite the West Asia crisis impacting global energy markets. Measures are in place to ensure 100% supply of domestic LPG, PNG, and CNG, with household LPG prioritized. Citizens are urged to avoid panic buying and rely on official information.

The Press Information Bureau's Fact Check unit has debunked viral claims of a significant hike in petrol and diesel prices, stating no such order has been issued. A senior government official confirmed there's no current proposal to increase retail fuel prices, reassuring consumers amidst global oil market volatility. Fuel prices in major cities remain unchanged.

The UAE’s exit from OPEC signals a shift in global oil politics, weakening coordinated supply control. For India, heavily dependent on imports, it could mean more flexible deals ahead, but also greater exposure to price volatility driven by geopolitical tensions.

Russia's foreign minister Sergei Lavrov has accused the US of prioritizing oil and energy dominance, alleging military actions in Iran and Venezuela are resource-driven. He claims Washington disregards international law, opting for power over rules. Lavrov urged the US towards dialogue, criticizing policy shifts that strain relations and push Europe away from Russian gas, likening it to a 'colonial era'.

India is set to explore higher ethanol-blended fuels like E85 and E100, following the success of E20. The Ministry of Road Transport and Highways has proposed amendments to fuel regulations, aiming to reduce crude oil import dependence. This move also includes updated fuel classifications and potential advancements in biodiesel and hydrogen fuel standards.

Union Education Minister Dharmendra Pradhan reviewed the Chandikhole strategic petroleum reserve project, a crucial step for India's energy security amid global instability. This facility, costing approximately Rs 8,743 crore, is set to create over 5,000 jobs in Odisha.

Ranveer Singh’s Dhurandhar (Part 1) will release in Japan on July 10 after a strong global run. Makers shared a Japanese poster online. The film earned Rs. 1307.35 crore worldwide. The spy thriller follows an undercover agent tackling terror networks, with sequel The Revenge continuing the high-stakes mission forward ahead.