Economy news

• US revokes Iran oil waiver amid attacks on British tankers in Strait of Hormuz

  07-07-2026 21:40 via timesofindia.indiatimes.com
  
  The United States revoked an Iran oil sanctions waiver after recent tanker attacks. Three tankers were struck by projectiles in the Strait of Hormuz. One vessel caught fire off the coast of Oman following the incident. The Iranian foreign ministry condemned the US move as a breach of commitment. These events threaten to disrupt vital shipping through the strategic waterway.
  
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• Getty Images calls off Shutterstock merger after UK regulator's divestment demand

  07-07-2026 20:35 via timesofindia.indiatimes.com
  
  Getty Image has ended its planned $3.7 billion merger with Shutterstock. The UK competition regulator required Shutterstock to sell its editorial business. Getty's board decided this condition was not in the company's best interests. The companies had unveiled the deal in January 2025 to build a visual content powerhouse. Both firms now face increasing pressure from AI image generators.
  
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• India strengthens position as investment destination; FDI rises by 44% to $39 billion in 2025

  07-07-2026 17:42 via timesofindia.indiatimes.com
  
  South Asia witnessed a sharp rise in FDI inflows, which climbed from $34 billion to $46 billion, largely driven by India, where inflows expanded to $39 billion, the report noted. At the same time, UNCTAD observed that project-related indicators suggested a more cautious investment environment despite the increase in overall inflows.
  
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• Wall Street sees mixed performance; Dow rises 0.3%, Nasdaq falls 0.8% as AI stocks slide

  07-07-2026 17:17 via timesofindia.indiatimes.com
  
  US stocks traded mixed on Tuesday as technology shares faced pressure.Declines in artificial intelligence and semiconductor stocks weighed on the Nasdaq Composite.The S&P 500 also slipped, while the Dow Jones Industrial Average saw gains.This weakness followed a sharp sell-off in Asian markets, particularly South Korea's Samsung Electronics.Oil prices moved higher after a tanker incident in the Strait of Hormuz.
  
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• India urges US to reconsider proposed 12.5% tariff over 'forced labour' probe under USTR's Sec 301

  07-07-2026 17:00 via timesofindia.indiatimes.com
  
  India has asked the United States to withdraw proposed tariffs on its imports.The nation argues the US lacks adequate evidence for its claims.India's submission highlights a broad approach by the USTR investigation.It states the current framework does not distort trade unfairly.India remains open to dialogue and consultation on specific concerns.
  
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• El Nino impact: India’s hydropower generation sees steepest drop since Feb 2024; piles pressure on grid

  07-07-2026 16:53 via timesofindia.indiatimes.com
  
  Data from the India Meteorological Department showed that cumulative rainfall across the country was 38% below normal until July 1, largely due to the development of El Niño conditions over the Pacific Ocean, which affected the southwest monsoon running from June to September.
  
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• India bets on critical minerals, rare earths and chips partnerships

  07-07-2026 16:08 via timesofindia.indiatimes.com
  
  India has launched the National Critical Mineral Mission (NCMM) in January 2025 for a seven-year period from 2024-25 to 2030-31. The mission goes far beyond a conventional mining initiative. It lays out a long-term strategy aimed at strengthening India's energy security, accelerating industrial development and enhancing technological self-reliance.
  
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• India's economy passed the Iran war test. Could El Nino spoil the party?

  07-07-2026 13:51 via timesofindia.indiatimes.com
  
  Economists say that the world’s fastest growing economy may even end up clocking a 7% GDP growth number this year. But, domestically a poor monsoon caused by El Nino is painting a grim picture for inflation. Is the worst really over for the Indian economy?
  
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• China weighs curbs on overseas access to their advanced AI models: Report

  07-07-2026 13:29 via timesofindia.indiatimes.com
  
  Chinese officials are discussing restricting overseas access to advanced artificial intelligence models. These talks involve major technology firms like Alibaba and ByteDance. The government views cutting-edge AI as a strategic national asset amid global competition. Discussions also covered strengthening legal protections for proprietary AI technology. This move follows China's increasing global traction in the AI sector.
  
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• The biggest hurdle in India's chip race isn't the plan—it's execution

  07-07-2026 12:39 via timesofindia.indiatimes.com
  
  India's semiconductor strategy draws on proven Asian models for growth.Execution, not strategy, presents the nation's primary challenge now.Developing skilled workers and strengthening local supply chains are crucial steps.The country focuses on outsourced assembly and mature process nodes.Meeting global quality standards and increasing domestic production are key goals.
  
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• Flights, hotels, visa in one go: 10 things to know about Saudi’s Package Visa

  07-07-2026 12:03 via timesofindia.indiatimes.com
  
  Saudi Arabia has introduced a new pilot Package Visa service for tourists. This digital initiative integrates flight and accommodation bookings with visa applications. Eligible travelers can now book their entire trip through a single, unified travel package. The service aims to simplify the visitor journey and encourage longer stays. This move supports Saudi Arabia's growing tourism sector and global accessibility.
  
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• Back with a bang! Foreign investors bet on financials, record fortnightly inflows seen in second half of June

  07-07-2026 10:41 via timesofindia.indiatimes.com
  
  The renewed interest in financial stocks helped overseas investors emerge as net buyers of Indian equities worth more than Rs 14,000 crore during the June 16-30 period, reversing net outflows of Rs 63,450 crore recorded in the first fortnight of the month, according to NSDL data.
  
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• Want a stake in Cochin Shipyard? Centre launches offer for sale at Rs 1,400 per share

  07-07-2026 10:22 via timesofindia.indiatimes.com
  
  The Centre is selling a 2.52% stake in Cochin Shipyard Limited through an Offer for Sale. Non-retail investors can bid on July 7, 2026, and retail investors on July 8, 2026. This divestment supports the government's extensive maritime ecosystem expansion programs. Initiatives like the Maritime Development Fund and financial assistance schemes are bolstering the sector. The long-term Maritime Amrit Kaal Vision 2047 aims for significant growth by 2047.
  
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• India's strategic gas storage: LNG buffer mandate for terminals in the works - what it means

  07-07-2026 10:05 via timesofindia.indiatimes.com
  
  The disruption to LNG shipments through the Strait of Hormuz during the Iran conflict highlighted India's exposure to supply disruptions, prompting the government to revisit the idea of creating strategic gas reserves. Policymakers are evaluating a plan under which LNG terminal operators would be required to expand storage capacity at their existing import facilities.
  
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• IIM campus, UPI, AI & more: PM Modi heralds 'golden chapter' of India, Indonesia ties

  07-07-2026 08:45 via timesofindia.indiatimes.com
  
  India and Indonesia are enhancing cooperation in defense and maritime security.Discussions covered trade, energy, and critical minerals for future growth.Both nations agreed to boost technology sharing and startup collaborations.Educational ties will strengthen with an Indian Institute of Management campus opening.Cultural exchanges and heritage projects will also be jointly undertaken.
  
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• Rupee recovers 15 paise to 95.28 against US dollar in early trade

  07-07-2026 07:24 via timesofindia.indiatimes.com
  
  The Indian rupee opened stronger against the US dollar on Tuesday. Lower crude oil price expectations and easing Middle East tensions improved market sentiment. Saudi Arabia's decision to cut oil prices for Asian buyers added to the positive mood. Foreign institutional investors remained net buyers of domestic equities on Monday. Indian equities also opened on a positive note, with major indices rising.
  
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• Kospi's AI party over? South Korean benchmark tumbles 7%, sell-side sidecar activated

  07-07-2026 06:43 via timesofindia.indiatimes.com
  
  South Korean stocks experienced a significant decline on Tuesday.Investors rushed to secure profits after strong earnings reports were released.Heavyweight technology stocks led the broad sell-off across the market.This sharp reversal followed a period of record highs driven by AI optimism.The market's heavy reliance on a few key companies contributed to the volatility.
  
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• Top stocks to buy today: Stock market recommendations for July 7, 2026 - check list

  07-07-2026 05:44 via timesofindia.indiatimes.com
  
  Stock market recommendations: Mankind Pharma, Bajaj Auto, UNO Minda, and Jubilant FoodWorks - Somil Mehta, Head of Retail Research at Mirae Asset Sharekhan has identified these four as the top stocks to buy on July 7, 2026:
  
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• Oil price today: Crude benchmarks inch higher as focus shifts to supply, demand and Hormuz shipments

  07-07-2026 03:53 via timesofindia.indiatimes.com
  
  Oil prices saw a slight increase Tuesday after a tanker was struck near the Strait of Hormuz.This incident raised security concerns on a vital global oil shipping route.However, market gains were limited as traders focused on rising crude supplies.The United Arab Emirates and OPEC+ have agreed to increase their oil production levels.Saudi Arabia also lowered its August crude selling price for Asian markets.
  
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• 'Growth Gems' biz to power Mahindra's next leap

  07-07-2026 02:12 via timesofindia.indiatimes.com
  
  Mahindra Group is expanding into fast-growing businesses beyond its core operations.The conglomerate has set ambitious expansion targets across multiple sectors.These "Growth Gems" are positioned to benefit from structural economic trends.Mahindra Lifespaces saw profit increase seven-fold, and aerospace built a strong order book.The group plans to double room inventory at Mahindra Holidays by FY30.
  
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• Flipkart greenlights cashing out up to 5% of vested stock options

  07-07-2026 02:02 via timesofindia.indiatimes.com
  
  Flipkart's board has approved a second employee stock option liquidity event. Eligible employees can now liquidate up to five percent of their vested options. This event is estimated to be around twenty-five million dollars. Payouts to employees are scheduled to be made in August. The company's growth has remained strong despite a challenging macroeconomic environment.
  
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• Saudi Arabia effects deepest crude price cut in 26 years

  07-07-2026 01:55 via timesofindia.indiatimes.com
  
  Saudi Arabia significantly reduced crude oil prices, reflecting intense competition among producers. Major Persian Gulf nations are increasing their oil output, restoring pre-war export levels. This move coincides with OPEC+ allies agreeing to further boost production targets for August. Lower oil prices and increased supply will benefit Indian refiners and reduce government subsidy burdens. Reduced energy costs for Indian companies will help control inflation and support consumer spending.
  
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• Manipal Health gets Sebi nod for Rs 8,000-crore IPO

  07-07-2026 01:27 via timesofindia.indiatimes.com
  
  India's IPO pipeline is gaining momentum with significant upcoming public issues. The National Stock Exchange is planning a substantial Rs 30,000-crore offering. Manipal Health Enterprises has secured approval for its Rs 8,000-crore public issue. Rentomojo also received market regulator nod for its IPO. Funds will be used for debt repayment and acquisitions.
  
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• Power and infra drive behind 17% credit growth to industry

  07-07-2026 01:17 via timesofindia.indiatimes.com
  
  Bank lending to industry saw power sector lead growth in early FY27. Chemicals and vehicles also experienced significant increases in credit allocation. Telecommunications exposure declined, reflecting a shift in lender priorities. Overall infrastructure sector growth was positive, excluding telecommunications contraction. Industry's share in total bank credit continued its gradual decline.
  
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