The OECD has downgraded its global economic growth predictions due to the escalating trade war spurred by US tariffs. The revised forecast indicates a slowdown to 2.9% for both 2025 and 2026, impacting the US significantly with reduced growth projections and rising inflation. The organization urges countries to seek agreements to avoid further trade fragmentation.
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Bank deposits in metro cities have increased to 53.2% in March 2025, while their share in bank credit has decreased. This shift is driven by a growing preference for personal loans and the movement of capital to semi-urban areas. Personal loans have seen significant growth, with housing loans becoming more affordable.
Indian markets are poised for an upswing, fueled by the RBI's significant rate cut and optimism surrounding a potential US-India trade agreement. Investors will closely monitor inflation data, monsoon progress, and global trade discussions. However, global headwinds, including potential shifts in US tariffs and geopolitical tensions, could induce market volatility.
Airbus reports IndiGo and Air India are among its top three global customers with substantial aircraft backlogs. While facing delivery delays, Airbus sees supply chain stability returning, aiming to increase A320 production.
After a period of inactivity, companies are preparing to raise funds through IPOs. SEBI has approved six IPOs aiming to raise over Rs 20,000 crore, including a significant Rs 12,500 crore offer from HDB Financial. Several offers include both fresh issues and offer-for-sale components, with HDB Financial and Dorf-Ketal Chemicals leading the way.
Vedanta Ltd is poised to raise up to Rs 5,000 crore through private placement of secured non-convertible debentures (NCDs). The offering, with staggered maturities, features a coupon of around 9.35%-9.45%, higher than sovereign bond yields. Proceeds will be used for debt repayment and capital expenditure. Anchor investors include prominent mutual funds and insurance companies.
Tata Sons' board has cleared company secretary Suprakash Mukhopadhyay of any ethical violations after reviewing an internal probe into his ties with Divinion, a family-owned financial firm. While Mukhopadhyay failed to disclose his connection, the board concluded there was no intentional breach of conduct. Concerns arose over potential conflicts of interest, given Divinion's links to current and former Tata employees.
India's foreign exchange reserves rebounded, climbing by $6.992 billion to $692.721 billion in the week ending May 23, according to the RBI. This increase was driven by a rise in foreign currency assets and gold holdings.
President Trump signed executive orders to bolster drone security, promote air technologies like electric air taxis and supersonic aircraft, and reduce reliance on Chinese drone manufacturers. A federal task force will enhance airspace protection and counter-drone capabilities. The FAA is instructed to remove the ban on overland supersonic transport, contingent on preventing sonic booms on the ground.
Asian markets displayed caution amid tech-driven Wall Street gains, with trade headlines and geopolitical risks influencing investor sentiment. The US extended tariff exclusions on Chinese goods, while the Trump administration sought renewed trade proposals and a call between presidents.
Hyundai Motor Company fully exited Ola Electric Mobility, selling its 2.47% stake for Rs 552 crore. Kia Corporation also divested a 0.62% stake for Rs 137.35 crore. Citigroup Global Markets Mauritius acquired a 1.95% stake for Rs 435.47 crore, leading to a fall in Ola Electric's stock price amidst reported net losses.