India Says US Raised Concern Over Processed Russian Oil Shipment

An Indian ship met a Russian tanker at sea, picked up oil, and sailed to a port in India’s Gujarat state where the cargo was processed into a product used in the making of single-use plastic, Patra said. “The refined output was put back on that ship and it set sail without a destination. In … Read more

South Asia Debt Woes Evoke Fears of Another 1997-Style Crisis

Back then, what seemed like an isolated event—Thailand’s July 1997 baht devaluation to cope with currency speculation—spread like a virus to Indonesia, Malaysia, and South Korea. Panic-stricken lenders demanded early repayments, and investors pulled out of stocks and bonds in emerging markets, including in Latin America and Russia, which defaulted on some of its debt … Read more

Inflation to Drive RBI’s Rate Action Rather Than Rupee, DBS Says

“If you take the central bank’s view, the rupee fall is not a concern,” DBS Bank Senior Economist Radhika Rao said in an interview with Bloomberg Television’s Juliette Saly and Yvonne Man on Friday. “It’s more of inflation focus that’s driving policy rather than what’s happening globally from the Fed’s aggressive rate hiking cycle or … Read more