TRADE RELATIONS SOUTH ASIA
Global airlines to address trade war, net-zero uncertainties at annual summit
Airline bosses are convening in New Delhi amidst concerns over Donald Trump's policies, which have negatively impacted travel to the US and potentially increased aviation costs. Protectionist measures and geopolitical tensions are creating uncertainty, affecting traffic and profitability projections.
How Trump's trade war is upending the global economy
Since January 20, President Trump's tariff decisions have roiled financial markets, creating global economic uncertainty. He imposed tariffs on various countries, including Mexico, Canada, and China, often delaying or adjusting them based on negotiations and market reactions. Legal challenges arose, with courts temporarily blocking some tariffs, adding to the ongoing trade tensions and policy shifts.
Indices close higher amidst legal ruling on Trump's tariffs
Indian benchmark indices closed positively on Thursday, though gains lagged behind other Asian markets. Nifty rose 0.33% to 24,833.6, and Sensex increased 0.39% to 81,633.02, despite intraday dips. Underperformance was attributed to prior rallies and call writing at the 25,000 level, creating resistance. FPIs and domestic institutions were net buyers.
Tariff war create opportunity for India in some of sectors: CEA V Anantha Nageswaran
The tariff war presents India with opportunities in specific sectors. India and US are in talks for a trade agreement, aiming for an interim deal. The US is India's largest trading partner. India had a trade surplus with the US. India aims to become a USD 5 trillion economy by 2027-28.
South Asia's 'largest' battery energy storage system inaugurated at Delhi's Kilokari
Delhi's Power Minister Ashish Sood inaugurated a 20-MW battery energy storage system (BESS) at Kilokari, hailed as South Asia's largest. This commercially approved system will enhance power supply for over one lakh South Delhi residents. The BESS, utilizing Lithium Iron Phosphate technology, ensures reliable power, grid stability, and optimized costs, marking a new standard for urban energy management.
87% Indian firms shift focus to domestic market amid global trade turmoil, HSBC survey finds
HSBC’s Global Trade Pulse Survey shows 87% of Indian firms are focusing on domestic markets due to global trade uncertainties, while also exploring new regions and M&A strategies to mitigate risks and sustain growth.
India must reassess US trade deal after Trump tariffs declared unlawful: GTRI
Following a US court ruling against Trump's reciprocal tariffs, GTRI advises India to be cautious in FTA talks with the US. The court deemed the tariffs unlawful, raising concerns about the fairness of potential trade agreements. Despite plans for a bilateral trade agreement, India is urged to reassess its negotiation strategy to avoid disproportionate benefits for the US.
China says 'no winners' in trade war as US court ruling blocks Trump's tariffs
China’s Foreign Ministry responded to a U.S. court blocking Trump-era tariffs by warning that trade wars have no winners and protectionism harms all sides. The U.S. Court of International Trade ruled that the emergency law used didn’t grant the president authority to impose sweeping global tariffs, dealing a significant blow to a cornerstone of Trump’s economic agenda.
Stocks rally in Asia as Trump tariffs hit court hurdle
Asian shares and Wall Street futures experienced gains following a U.S. court's block on President Trump's tariffs, boosting risk appetite and weakening safe-haven currencies. The dollar rose against the yen and Swiss franc, while Treasury yields increased, diminishing expectations for near-term Federal Reserve rate cuts. Oil prices also climbed due to supply concerns.
Chief economists see global growth coming under strain; India story intact: WEF
Global economists predict strong economic growth in South Asia. India is likely to lead this expansion in 2025 and 2026. However, trade policy and AI could strain global growth. US economic policy may delay business decisions and raise recession risks. Public debt concerns are rising with increased defense spending.
Indonesia supports India's zero-tolerance approach towards terrorism
An Indian parliamentary delegation, led by JDU MP Sanjay Kumar Jha, visited Jakarta to reinforce India's firm stance against terrorism. Indonesian officials expressed their condemnation of terrorism and support for India's zero-tolerance approach. This diplomatic outreach, part of Operation Sindoor, aims to garner international support and highlight Pakistan's connection to terrorism following the Pahalgam attack.
Macron gives Vietnamese students a lesson in 'impulsive' superpowers
Between jabs at Donald Trump's US trade tariffs and criticism of Beijing's assertiveness in the South China Sea, French President Emmanuel Macron warned Vietnamese students Tuesday that "on the impulse of a superpower, everything can change". Communist-run Vietnam has also been threatened with a hefty 46 percent tariff by US President Donald Trump as part of his global trade blitz.
Goodbye Washington, hello Beijing; ASEAN turns to China, unites to fight US tariffs
Southeast Asian leaders convened in Kuala Lumpur for the 46th ASEAN 2025 Summit, confronting significant economic challenges posed by recent US tariffs. In response, ASEAN is proactively strengthening regional integration and diversifying partnerships. The bloc is deepening ties with China through upgraded trade agreements and exploring alternatives to dollar-based trade, signaling a shift towards greater economic independence.
RBI said to be seeking approval for overseas rupee lending to neighbours
The Reserve Bank of India (RBI) is seeking government approval to allow domestic banks to lend rupees to overseas borrowers, initially focusing on neighboring countries like Bangladesh, Bhutan, Nepal, and Sri Lanka. This initiative aims to promote the rupee's use in international trade, reduce reliance on currency swap arrangements, and facilitate easier trade settlements while mitigating foreign exchange volatility.
Citi appoints Prashant Thakker head of corporate bank for South and Southeast Asia
Citigroup has appointed Prashant Thakker as Head of the Asia South Corporate Bank, effective immediately, according to an internal memo. He will oversee strategy, financial performance, talent, and execution across nine markets: India, Indonesia, Malaysia, Philippines, Singapore, Thailand, Vietnam, Bangladesh, and Sri Lanka.
France, Vietnam set to sign dozens of deals as Macron visits Hanoi
Emmanuel Macron visits Vietnam to sign deals. This aims to boost France's influence. Vietnam faces pressure from US tariffs. Macron's visit includes business executives. They will sign agreements in aviation and energy. European officials urge Vietnam to consider EU interests. Airbus may secure a deal with VietJet. Vietnam is also considering buying Boeing planes. This could impact Airbus's market share.
South Korea presidential candidate Lee Jae-myung says to restore hotline with North Korea
South Korea's presidential candidate Lee Jae-myung pledged to restore communication with North Korea, including a military hotline, if elected. He also aims to improve relations with China, which he believes deteriorated under the previous administration. Lee vowed to strengthen the U.S.-South Korea alliance and address historical issues with Japan while promoting trilateral cooperation.
Lego opens South Asia's biggest store in Gurugram in partnership with Ample Group
Lego Group starts its retail journey in India with a new store in Gurugram. This is the largest Lego store in South Asia. The company plans to open more stores across India. Bengaluru will be the next location. Lego aims for significant growth in the Indian toy market. They offer a wide range of products for all ages.
India's message to Turkey: Ties built on sensitivities
India urges Turkey to push Pakistan to stop cross-border terrorism. Relations depend on mutual respect. India also raised the issue with China. Foreign Secretary Vikram Misri met Japanese officials in Tokyo. They discussed strengthening ties and fighting terrorism. An Indian delegation met Japanese leaders. They reaffirmed India's commitment to combating terrorism. Discussions focused on Pakistan's role in terrorism.
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