IMF Reclassifies India’s FX Regime Amid Pressure on Rupee

Apple is contesting a significant antitrust penalty law in India, which could result in a fine of up to $38 billion, as revealed in a recent filing. This legal challenge highlights the ongoing scrutiny tech giants face regarding their business practices in various markets.

The International Monetary Fund has reached an agreement with Ukraine on a new financing program worth $8.2 billion, signaling a positive development for the war-affected nation and its international allies. This agreement aims to bolster Ukraine's economy amid ongoing funding risks and geopolitical tensions.

Canada is actively pursuing a trade deal with India, marking a significant shift in relations after years of tension, particularly influenced by former President Trump's global alliance strategies. This development follows Canada's recent engagement with Beijing at the Asia-Pacific summit, indicating a broader diplomatic effort.

French aircraft engine maker Safran SA plans to increase its component procurement from India by 400%, aiming for a total of €500 million ($579 million) by 2030, reflecting India's growing importance in the aviation sector.

Citigroup Inc.’s India unit has successfully expanded its asset-backed securities portfolio to nearly $1 billion, achieving this milestone ahead of its February target. This growth reflects a significant increase in demand for such financial instruments in the Indian market over the past two years.

India's central bank Governor Sanjay Malhotra indicated that recent macroeconomic data supports a potential cut in the benchmark policy rate in December, which has led to a decrease in bond yields. This statement reflects the central bank's assessment of the current economic climate and its implications for monetary policy.