Tuesday, September 01
The Indian rupee hit a record low on Thursday, deepening its slide past the 90 per dollar mark, as foreign investors kept pulling out of local stocks and the depreciation bias firmed after a breach of the key psychological level.The rupee weakened to 90.42, eclipsing its previous all-time low of 90.29 hit on Wednesday.The rupee is one of Asia's worst performers, down more than 5% against the dollar year-to-date, as U.S. tariffs of up to 50% on Indian goods have hurt exports to the country's biggest market while diminishing the appeal of local equities.The headwinds have coincided with weakness in dollar flows via foreign direct investments and offshore borrowings, keeping the rupee under pressure.SPECULATIVE BETS RISEThe fall below the 90 handle on Wednesday has emboldened speculative inte
Bahrain has lowered the minimum real estate investment required for its Golden Residency Visa to BHD 130,000, down from BHD 200,000. The considerably reduced threshold aims to make the visa more accessible to foreign investors. The visa, introduced in 2022, offers a 10-year renewable residence with work rights and family reunification. The Nationality, Passports and Residence Affairs (NPRA) said the latest change is expected to support real estate demand and strengthen the kingdom’s appeal as a long-term residency and business hub.According to a Gulf News report, the NPRA announced the revised criteria as part of Bahrain’s plan to enhance its competitiveness in the Gulf. Shaikh Hisham bin Abdulrahman Al Khalifa, Undersecretary for NPRA, said the move reflects the government’s commitm
The United States announced a significant step in defence cooperation with India after New Delhi signed a sustainment package for the Indian Navy's MH-60R "Seahawk" helicopter fleet.India's Ministry of Defence has approved a contract worth approximately Rs 7,995 crore (about USD 946 million) to support 24 MH-60R helicopters produced by Lockheed Martin. The agreement aims to improve long-term operational readiness, strengthen interoperability with US forces, and enhance maritime security in the Indian Ocean region.In a post on X, the US State Department said, "Great news in our defence relationship with India. India's Ministry of Defence signed a sustainment package for its 24 MH-60R Seahawk helicopters, developed by Lockheed Martin. This 946 million dollar package will enhance the Indian N
