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Projectile hits container ship off UAE's Jebel Ali, UKMTO says

Economictimes.indiatimes.com 

A container ship has been struck by a projectile off the coast of the UAE, near Jebel Ali port. The United Kingdom Maritime Trade Operations (UKMTO) confirmed the incident, raising concerns about maritime security in the region. Details regarding the origin of the projectile and any potential damage are still emerging.

India cosponsors UNSC resolution condemning Iran's 'egregious' attacks on GCC, Jordan

Economictimes.indiatimes.com 

India stepped up on the international stage by joining more than 130 countries at the UN Security Council, where a pivotal resolution denounced Iran’s military actions against Gulf nations and Jordan. It urgently urged an end to the conflict while cautioning Iran against the dangers of jeopardizing shipping routes through the Strait of Hormuz.

US begins new unfair trade probe against overproduction in India, 15 others

Economictimes.indiatimes.com 

The US has launched a trade investigation into excess industrial capacity in 16 countries, including India, under Section 301 of its Trade Act. This probe could lead to new tariffs as the US claims overproduction by trading partners displaces American manufacturing and hinders investment. Evidence suggests significant excess capacity in India's petrochemicals, steel, and solar module sectors.

No loans for Gulf as Iran war spooks Asian lenders

Economictimes.indiatimes.com 

Iran War: Enthusiasm for Middle East lending has significantly waned among Asian financial institutions following recent regional hostilities. This marks a sharp reversal from earlier optimism, with banks now reassessing ambitions and pausing transactions involving Asian balance sheets due to escalating risks.

US Stock Market | SoftBank's PayPay prices IPO below range at $16 a share

Economictimes.indiatimes.com 

PayPay, a Japanese digital wallet provider, has priced its U.S. initial public offering at $16 per share. This figure is below its initial target range. The offering raised approximately $880 million. The market sentiment was impacted by geopolitical events. This listing marks a significant debut for a SoftBank majority investment in the U.S. market.


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