Global Pulse

分类： business

  • Australian sharemarket soars, oil prices sink after Trump’s Iran post.

    Australian sharemarket soars, oil prices sink after Trump’s Iran post.

    Financial markets around the Asia-Pacific region swung sharply on Monday after a social media post from former US President Donald Trump hinted at progress in ongoing negotiations for a new nuclear and energy deal with Iran, triggering a sharp drop in global crude prices and lifting Australia’s benchmark share index to its highest level in two weeks.

    Trump took to his Truth Social platform to share an unexpected update on the stalled talks, writing that a potential agreement was “largely negotiated”, with only final details remaining to be ironed out before an official announcement. The former president stressed that any deal his team reaches would be far stronger than the 2015 Obama-era agreement, which he criticized for granting Iran access to large cash reserves and an unimpeded path to develop nuclear weapons. “If I make a deal with Iran, it will be a good and proper one… Our deal is the exact opposite,” he wrote, while adding that negotiations are not yet fully finalized to temper overblown market expectations.

    Global markets quickly priced in the prospect of a breakthrough that could reopen the critical Strait of Hormuz — the chokepoint through which roughly 20% of the world’s daily oil supplies pass — easing geopolitical supply risks that have propped up crude prices in recent months. By the close of Australian trading, benchmark Brent crude had tumbled 5.6% to settle at $US97.77 a barrel, marking its first dip below the $100 threshold in weeks.

    The decline in energy prices flowed through directly to Australia’s benchmark S&P/ASX 200, which climbed 35 points, or 0.4%, to close at 8692 — a fresh two-week high. The broader All Ordinaries index followed suit, gaining 38.20 points, or 0.43%, to end the session at 8915.40. The Australian dollar also strengthened against the US dollar, rising to 71.65 US cents by market close.

    Six of the ASX’s 11 industry sectors closed in positive territory, led by mining and technology stocks. Major mining names led the rally: BHP added 0.62% to close at $60.12, Rio Tinto climbed 1.62% to $187.81, and Fortescue Metals Group jumped 1.67% to $21.86. In the technology sector, accounting software firm Xero gained 0.99% to $76.59, logistics tech provider WiseTech Global rose 0.75% to $37.37, and communications technology firm Codan added 1.15% to $40.42.

    Australia’s big four banks recorded mixed performance: Commonwealth Bank of Australia fell 0.65% to $164.60, Westpac gained 0.60% to $36.77, National Australia Bank climbed 1.14% to $38.28, and Australia and New Zealand Banking Group closed up 0.76% at $35.77.

    Energy stocks, as expected, retreated sharply on the back of falling crude prices. Top Australian energy producer Woodside Energy fell 4.24% to $30.74, Santos dropped 3.64% to $7.94, and fuel retailer Ampol gave up 4.20% to $33.95.

    Kyle Rodda, senior financial market analyst at global investment platform Capital.com, noted that while speculation of a looming US-Iran deal lifted market sentiment, traders remained cautious after months of inconsistent reports about negotiation progress. “There is healthy scepticism – along with plenty of cynicism – about the prospects of a deal. That’s especially true after months of misleading news and propaganda about a peace deal. Recent reportage suggests negotiators are closing in on an agreement,” Rodda explained.

    In individual company news, property fund manager Charter Hall led gainers with a 6.67% jump to $20.62 after the firm upgraded its 2026 operating earnings guidance and reported $6.5 billion in year-to-date equity inflows. Online beauty retailer Adore Beauty also climbed 6.25% to $0.34 after releasing unaudited interim results showing $193.4 million in revenue over the 47 weeks ending May 24.

    Mexican fast food chain Guzman y Gomez, which recently announced it would exit the US market after six years of sustained losses, saw volatile trading on Monday: the stock surged as high as $21.77 in early morning trading before paring gains to close up just 0.25% at $19.86.

  • Toshifumi Suzuki, the Japanese behind the ‘conbini’ empire, has died. He was 93.

    Toshifumi Suzuki, the Japanese behind the ‘conbini’ empire, has died. He was 93.

    TOKYO – Toshifumi Suzuki, the iconic Japanese business leader who transformed a small licensed franchise into the world’s largest convenience store network, 7-Eleven, passed away at his Tokyo residence on May 18 at the age of 93. The cause of death was heart failure, according to an official announcement Monday from Seven & i Holdings, where Suzuki served as honorary adviser.

    Born in 1932 in Japan’s northern Nagano Prefecture, Suzuki graduated from Tokyo’s prestigious Chuo University before launching his retail career at Ito-Yokado, a major Japanese department store chain now also held under the Seven & i Holdings umbrella. It was from this foundation that he would go on to revolutionize modern convenience retail.

    In 1973, Suzuki secured a franchise licensing agreement with the U.S.-based original 7-Eleven brand, opening Japan’s first 7-Eleven location in 1974. What began as a single licensed outlet rapidly grew into a nationwide phenomenon, redefining daily life for Japanese consumers under Suzuki’s leadership. Today, 7-Eleven’s ubiquitous “conbini” outlets are woven into the fabric of Japanese society, offering far more than quick snacks and drinks. Shoppers can access ATMs, pay utility bills, print documents, and grab freshly prepared on-the-go meals, turning the small neighborhood stores into one-stop hubs for daily needs. The chain now counts more than 80,000 locations across the globe, retaining its position as Japan’s largest convenience store operator.

    When the original 7-Eleven parent company, U.S.-based The Southland Corp., fell into severe financial trouble in the 1990s, Suzuki steered the Japanese subsidiary to acquire a controlling majority stake in the global brand. He completed the full acquisition in 2005, bringing the entire 7-Eleven network under full Japanese ownership and turning a local license into a global retail powerhouse.

    Beyond building the 7-Eleven empire, Suzuki led Seven & i Holdings on a series of strategic expansions that diversified the group’s footprint. He oversaw the acquisition of Barney’s Japan in 2015, added full banking services to the group’s offerings, and integrated iconic Japanese department store chains Sogo and Seibu into the holding group. His core business philosophy centered on delivering a fully integrated lifestyle shopping experience tailored to evolving customer needs. He also spearheaded early adoption of cutting-edge retail technologies, cementing 7-Eleven’s reputation as an industry innovator that reshaped how Japanese consumers shop. Suzuki stepped into the chief executive role at 7-Eleven Japan in 1978, and remained a guiding force for the brand for decades.

    In recent years, Seven & i Holdings drew global attention when Canadian retail giant Alimentation Couche-Tard, operator of the global Circle K convenience store chain, launched a takeover bid for the group. However, the company abandoned the acquisition attempt in 2024, citing a lack of productive negotiation progress from Seven & i’s side.

    Per the company’s announcement, private funeral services have already been held for Suzuki with only immediate family in attendance. The family has politely declined condolence messages, floral arrangements, and other sympathy gifts. A public memorial service will be announced at a later date. Suzuki is survived by his wife and two children.

  • Brexit red tape costs hit food firms

    Brexit red tape costs hit food firms

    Nearly seven years after the United Kingdom completed its full exit from the European Union, post-Brexit trade barriers continue to squeeze British food exporters doing business with the continent, prompting top industry voices to share their mounting frustrations as UK officials weigh policy changes to cut bureaucratic red tape.

    Two key sectors in the South West of England — Devon’s sausage manufacturing and Brixham’s fishing trade — have been hit particularly hard by the additional administrative checks, costly paperwork and persistent border delays that came into force after Brexit. For Charles Baughan, managing director of family-owned Westaway Sausages based in Newton Abbot, these extra trade burdens have already accumulated into a quarter of a million pounds in losses for his business.
    Baughan detailed the steep administrative and financial toll of the current rules, explaining that every shipment of sausages bound for the EU requires a 14-page health certificate signed 46 separate times, which must be validated and stamped by an official veterinarian before departure. Beyond the £600 in direct costs per shipment for this process, he warned that even a minor error on the paperwork can lead to an entire consignment being seized and destroyed by French customs at the Port of Calais, creating constant, costly uncertainty for his firm.

    The pain is shared across the region’s fishing trade, according to Ian Perkes, a fish merchant based in the Brixham fishing port. Perkes noted that time-consuming paperwork bogs down operations on both sides of the English Channel, creating avoidable delays at the UK departure point and the Channel Tunnel entry point that throw off tight market timelines. Exporters even face financial penalties from UK health authorities if they fail to finalize and print all required health certification by the 1pm daily deadline, adding another unnecessary cost to already thin profit margins.

    To address these long-running frictions, UK government ministers are currently evaluating a proposal for closer alignment with EU food safety and trade regulations, a policy shift that could significantly cut bureaucratic barriers for exporters. The plan under discussion calls for “dynamic alignment”, a framework that would see the UK automatically adopt updated EU food rules into domestic law as they are introduced. If approved, a formal agreement on the new alignment framework could be finalized within the next two to three years.

    Jayne Kirkham, Labour Member of Parliament for Truro and Falmouth and a sitting member of the House of Commons Environment, Food and Rural Affairs Committee, confirmed that incremental progress is being made on advancing the alignment proposal. She emphasized that the current post-Brexit trade barriers have caused measurable damage to the UK’s national economy and to agricultural and fishing producers across the country, and that unimpeded cross-border trade is a non-negotiable necessity for these sectors. Kirkham added that negotiations on the framework could move at a surprisingly fast pace, with a finalized deal possible as early as 2027.

  • Qantas flagship Project Sunrise hit by fresh Airbus supply chain delays

    Qantas flagship Project Sunrise hit by fresh Airbus supply chain delays

    One of the aviation industry’s most highly anticipated ultra long-haul flight projects has hit another unexpected hurdle, with Australian flag carrier Qantas confirming its game-changing non-stop Sydney-to-London and Sydney-to-New York initiative will not launch until 2027 following a four-month extension to delivery delays from aircraft manufacturer Airbus.

    Dubbed Project Sunrise – a tribute to Qantas’ iconic World War II Double Sunrise flights that saw crews cross multiple time zones and witness two sunrises on a single journey – the decades-in-the-making initiative aims to redefine long-distance air travel by connecting Australia’s densely populated east coast directly to major western hubs without any layovers. The project relies on custom-built Airbus A350-1000URL aircraft, modified with an extra rear-center fuel tank that holds an additional 20,000 liters of jet fuel to power the 18+ hour ultra-long journeys.

    Airbus, the European aerospace giant, attributed the latest delay to ongoing global supply chain disruptions that have rippled across its entire A350 production line, impacting all scheduled deliveries of the popular wide-body aircraft model. Prior to this setback, the first commercial launch of Project Sunrise flights was targeted for 2026, following a multi-year delay triggered by the COVID-19 pandemic that pushed the original 2023 launch date back three years.

    In an official statement provided to NewsWire, Qantas confirmed the revised timeline, noting that while the first custom A350 will now arrive in April 2027, the four subsequent aircraft will be delivered in rapid succession. By November of the same year, the airline expects to be back aligned with its original overall deployment schedule for the project.

    “We continue to work closely with Airbus on the delivery and certification process that will enable us to begin operating these history-making ultra long-haul flights,” a Qantas spokesperson said.

    Despite the delivery delay, progress on pre-launch preparations remains on track. Qantas revealed that the first modified aircraft is currently being painted at Airbus’ facility in Toulouse, France, and is set to begin critical test flights in the coming weeks. Pilot training for the new ultra long-haul routes is also already well underway, with crew completing simulation training at Qantas’ Sydney training center.

    Once operational, Project Sunrise flights are projected to cut total travel time between Sydney and London or New York by up to four hours compared to existing one-stop connecting routes. Qantas already operates the world’s second-longest non-stop commercial route, between Perth and London, with a flight time of roughly 18 hours. The new Project Sunrise services will extend that range by more than three hours for flights departing Sydney, pushing the boundaries of modern civilian aviation to new limits.

  • Telcos warn of higher mobile bills for millions of Aussies over new ‘tax’

    Telcos warn of higher mobile bills for millions of Aussies over new ‘tax’

    Australia’s major telecommunications providers are sounding the alarm for Australian households, warning consumers to prepare for steeper monthly mobile plan costs and delayed 5G network expansion after the country’s communications regulator rejected industry calls for a far lower spectrum licence fee. The standoff comes as the first renewal window for core spectrum bands – 850MHz and 1800MHz, which underpin roughly 80% of Australia’s 30 million active mobile services – opens June 18 for the nation’s four largest mobile operators: Telstra, Optus, TPG Telecom and NBN Co.

    Spectrum, the finite public radio frequency resource that forms the invisible backbone of all wireless digital services from mobile calls to 5G broadband, is periodically re-licensed to operators by the Australian Communications and Media Authority (ACMA). For this renewal cycle, ACMA has set the total fee for the core spectrum bands at $7.32 billion. While that marks an decrease from the $8.2 billion paid by the industry 10 years ago, it is more than double the $3.3 billion fair value estimate the telecom sector submitted to regulators. The final figure also exceeds ACMA’s own preliminary 2023 proposal of $5 billion to $6.2 billion, a range that already drew pushback from consumer advocacy groups who argued the regulator was prioritizing telecom industry interests over taxpayer returns.

    Telecom leaders have labeled the finalized fee as a hidden “new mobile tax” that will ultimately be passed on to everyday consumers. A spokesperson for TPG Telecom argued that ACMA’s refusal to adopt a industry-aligned fair price has locked in extra costs that will weaken market competition and stifle infrastructure investment. “That means less investment in better coverage and services and increasing pressure on prices,” the spokesperson said. Telstra, which disputes its individual $2.8 billion share of the total fee (arguing its fair share should be closer to $1.2 billion), published internal analysis of 230 global telecom operators that links a 10% increase in spectrum licence costs to an 8% drop in average wireless download speeds and a 6% reduction in projected 5G network coverage.

    ACMA chair Nerida O’Loughlin pushed back against the industry’s warnings, noting that the aggregate total cost for the spectrum is still lower than what operators currently pay. “Our advice is that spectrum pricing alone should not lead operators to increase prices for consumers, as their aggregate costs for this spectrum will be lower than what they currently incur,” she said, adding that the regulator has structured the fee to support continued network investment. O’Loughlin emphasized that spectrum is a limited, high-value national public resource, and the $7.32 billion valuation reflects current market rates, delivering appropriate returns to Australian taxpayers. The final fee marked a minor downward adjustment from ACMA’s earlier draft valuation of $7.34 billion.

  • Australia Post welcomes ACCC support for proposed stamp price increase to $1.85

    Australia Post welcomes ACCC support for proposed stamp price increase to $1.85

    Australia’s national postal service is moving ahead with a plan to raise the cost of sending a standard letter, marking another step in its ongoing struggle to offset plummeting demand for traditional mail driven by the rise of digital communication. The state-owned provider has applied to increase the base rate for standard reserved letter services from the current AU$1.70 to AU$1.85, a move that has already received preliminary backing from Australia’s top consumer and competition regulator, which has announced it will not stand in the way of the increase ahead of a final ruling.

    The proposal for the price adjustment was officially submitted to the Australian Competition and Consumer Commission (ACCC) back in December 2025 as part of the regulator’s mandatory draft price notification process. Australia Post has framed the increase as a necessary response to accelerating structural decline across its letters business, which has been hit by mounting annual losses as more Australians shift fully to digital channels for personal and professional communication.

    According to data released by the postal service, traditional letter volumes dropped an additional 11.7% in the 2024-25 financial year when excluding one-time mail related to national and state elections. The total volume of letters sent across Australia today has fallen to levels not recorded since the late 1930s, the organisation confirmed. Only a small fraction of letters sent today are from private consumers: less than 3% of all mail posted in the country originates from individual senders, with business communications and government agency correspondence making up the vast majority of current letter volume.

    To soften public concern over the increase, Australia Post has emphasized that the impact on average household budgets will be negligible. The organisation estimates that the typical Australian household only buys five full-price standard stamps per year, meaning the 15-cent per stamp increase will add just 75 cents to total annual postal spending for the average home. It also noted that falling demand for traditional mail is not an isolated trend, with postal operators across every developed economy facing identical financial pressures from the shift to digital communication.

    Importantly, the price adjustment will not apply to two key categories of stamps: concession stamps for eligible low-income consumers will remain capped at AU$0.60, while seasonal greeting stamps will stay at AU$0.65. As an extra support measure for concession users, Australia Post has also raised the annual allocation of discounted concession stamps eligible households can purchase, expanding the limit from 50 per year to 75.

    The ACCC has now launched an extended public consultation period to gather feedback from businesses, consumers, and other stakeholders before issuing its final decision on the proposed increase. If the regulator confirms it will not oppose the price change after the consultation period closes, Australia Post will move forward with formal procedural steps for the adjustment and provide a mandatory 30-day advance notice to all customers before the new rate takes effect. In a statement, the postal service reaffirmed its commitment to retaining a universal, accessible national letter service while it adapts to the long-term structural decline in traditional mail volumes.

  • Oil prices slide on hopes of US-Iran peace deal

    Oil prices slide on hopes of US-Iran peace deal

    Hopes for a potential breakthrough peace agreement that could de-escalate conflict between the United States, Iran and Israel have sent shockwaves through global commodity and equity markets on Monday, driving a sharp drop in international oil prices and lifting major Asian stock benchmarks to multi-month or record highs.

    The latest round of diplomatic optimism traces back to comments made by former U.S. President Donald Trump over the weekend. In Saturday social media remarks, Trump confirmed that a framework deal with Tehran had been “largely negotiated,” adding that final details would be unveiled in the near future. He noted he had held constructive conversations with the leaders of major Gulf energy exporters including Saudi Arabia, the United Arab Emirates and Qatar to discuss a draft peace memorandum of understanding, and also said a separate call with Israeli Prime Minister Benjamin Netanyahu had “gone very well.”

    By Sunday, however, Trump struck a more cautious tone on the Truth Social platform, urging his negotiating team not to rush finalizing an agreement. “Both sides must take their time and get it right. There can be no mistakes!” he wrote. While Trump has reaffirmed that any finalized deal would “absolutely” prevent Iran from developing a nuclear weapon and would result in the reopening of the Strait of Hormuz – the critical global energy shipping choke point – he has yet to release full specifics of the proposed agreement.

    Iranian officials have offered a measured take on the ongoing talks. Foreign ministry spokesman Esmaeil Baqaei told Iranian state television that U.S. and Iranian negotiating positions have grown closer over the past week, but cautioned that convergence does not guarantee final deals on core sticking points, and hit out at Washington for what he described as “contradictory statements” from U.S. officials.

    The Strait of Hormuz, the narrow waterway connecting the Gulf oil exporting region to global markets, has been effectively closed to commercial shipping since the outbreak of hostilities on February 28. Roughly 20% of the world’s daily oil and liquefied natural gas supplies transit through the route, making its closure a major disruption to global energy security. The conflict escalated in early March, when Iran threatened to target any commercial vessels attempting to pass through the strait in retaliation for U.S. and Israeli military strikes on Iranian targets; Tehran subsequently launched retaliatory attacks on Israel and U.S.-aligned Gulf states including Saudi Arabia, Bahrain and the United Arab Emirates. A ceasefire took effect in early April, and Washington and Tehran have been holding negotiations on a long-term peace deal ever since.

    Market reaction to the weekend diplomatic developments was swift on Monday Asian trading hours. Global benchmark Brent crude fell 5% to trade at $98.36 per barrel, while U.S. West Texas Intermediate crude dropped 5.3% to settle at $91.50 per barrel. Major equity markets rallied across the region: Japan’s Nikkei 225 index gained 2.5% to cross the 65,000 point threshold for the first time in history. Both Japan and South Korea, which rely heavily on Gulf energy imports, have faced disproportionate economic pressure from the closure of the strait and subsequent energy price spikes. U.K. and U.S. financial and energy markets were closed Monday for public holidays, so formal trading reaction to the news will not be seen until Tuesday.

    Energy analysts note that while the diplomatic breakthrough has delivered near-term relief to jittery energy markets, long-term supply risks remain elevated. “There is now some light at the end of the tunnel, which will bring some near term oil price relief,” said Saul Kavonic, head of energy research at MST Financial. “But even in the most optimistic scenario from here, oil markets will remain tight through 2027 given the time required to normalise oil flows through the Strait, repair damaged oil facilities, and rebuild global oil stocks that have seen record depletion since the war began.”

  • Indian billionaires buy foreign companies as growth slows at home

    Indian billionaires buy foreign companies as growth slows at home

    In late April 2026, India’s largest pharmaceutical company Sun Pharmaceuticals finalized a landmark $11.75 billion all-cash agreement to acquire Organon & Co, a New York-listed global leader in women’s health and biosimilars. The deal stands as the largest cross-border acquisition by an Indian firm in nearly 20 years, and it caps a months-long streak of high-profile international purchases by Indian companies that has experts calling it a new wave of global expansion.

    This recent string of deals extends far beyond Sun Pharma’s mega-purchase. Earlier in 2025, automaker Tata Motors acquired Italy’s Turin-based Iveco for $4.4 billion, IT services provider Coforge purchased Silicon Valley-based artificial intelligence firm Encora for $2.35 billion, and the Bajaj Group secured a 23% stake in global insurance giant Allianz SE. Data from global advisory firm Grant Thornton reveals that 162 Indian firms spent a combined $18 billion on outbound acquisitions across 2025, marking a 34% jump in total deal value from the prior year. Sumeet Abrol, national leader and partner at Grant Thornton, projects that India could cross the $15 billion mark for outbound deal value in the first half of 2026 alone.

    Many industry observers have drawn parallels between this current expansion push and the early 2000s buying spree that saw Tata Group snap up iconic global assets including Jaguar Land Rover and Corus Steel, in a moment of widespread Indian corporate global ambition. But analysts note that the motivations driving today’s deals differ sharply from those of two decades ago. Rather than chasing high-profile trophy assets as symbols of global status, modern Indian firms are pursuing international acquisitions for clear strategic and operational gains.

    The broader economic context that frames this new wave is also drastically different from the early 2000s expansion. During the last acquisition boom, India was riding a booming domestic bull market that fueled corporate confidence. Today, the country faces a drastically different landscape: it is contending with large-scale outflows of foreign portfolio investment, a steep decline in net foreign direct inflows, and persistently stagnant private sector investment within the country, even after the Indian government rolled out major tax cuts and production-linked incentive subsidies to spur domestic spending.

    V Anantha Nageswaran, India’s chief economic advisor, recently highlighted this disconnect at a national policy conference, noting that even after posting 30.8% annual profit growth among the country’s top 500 post-pandemic companies, private sector capital formation has remained far lower than policymakers expected. This gap between strong corporate balance sheets and lackluster domestic investment is a core driver of the outbound trend, experts say. Even as the government urges domestic firms to invest more at home, growing dissatisfaction with domestic operating conditions, paired with more attractive opportunities for diversification and capability building abroad, has pushed corporate leaders to look overseas.

    Saurabh Mukherjea, founder of leading Indian asset manager Marcellus Investment Managers, told the BBC that billions in Indian corporate capital is already flowing across borders. “Even among the companies we hold in our portfolio, many are building greenfield factories in the US and other regions where industrial land is nearly free, and accessing working capital is far simpler than it is here,” he explained. This trend is not limited to India’s largest corporate conglomerates either. While the Sun Pharma deal and unconfirmed reports of Mukesh Ambani backing a $300 billion oil refinery project in Brownsville, Texas—announced by former U.S. President Donald Trump—grab headlines, Mukherjea notes that dozens of small and mid-sized Indian firms are making smaller acquisitions and greenfield investments across the globe.

    Neha Singh, co-founder of data intelligence firm Tracxn, notes that this expansion is supported by far stronger corporate balance sheets and improved access to global capital markets than Indian firms had two decades ago. “Indian companies are increasingly looking overseas to access ready-made consumer markets, established global brands, cutting-edge technological capabilities, specialized R&D expertise, and mature distribution networks that would take decades to build from scratch organically,” she explained. The rising trend has also accelerated amid growing global trade volatility, as companies move to secure resilient supply chains amid rising geopolitical tensions and the increasing use of trade tariffs and supply chokepoints as geopolitical weapons.

    Despite the momentum, outbound acquisitions still carry significant risks for Indian firms. Mukherjea points to Tata Steel’s decades-long struggle with its 2000s acquisition of Corus Steel, which became a persistent financial albatross that dragged on the company’s performance for years. A second notable risk, he adds, is the almost universal reliance on all-cash deal structures: even Sun Pharma’s $11.75 billion mega-deal was completed entirely in cash, leaving companies exposed to greater financial strain than share-based deals would offer.

    Still, experts agree that this outbound wave is far from over. Mukherjea projects that the raft of new free trade agreements India has signed with the European Union, United Kingdom, Australia, and other major economies will accelerate the trend, leading to a flood of outbound deals as Indian firms build operational bases in Western markets in coming years. He adds that a generational shift is also at play: many next-generation leaders of Indian family conglomerates study and reside abroad, and have a growing incentive to hold assets in foreign currencies, particularly as the Indian rupee has consistently lost roughly 40% of its value against the U.S. dollar every decade.

    For the Indian domestic economy, this expansion abroad is likely to be paired with continued selective caution on large domestic investments, Singh notes. The country remains stuck in a cycle of weak consumer demand and anaemic private investment, a trend that has been worsened by recent global energy price shocks and growing uncertainty over the impact of generative AI on India’s already tight domestic job market.

    Abrol of Grant Thornton notes that it remains unclear whether India will surpass 2025’s $18 billion outbound deal total this year, amid ongoing geopolitical volatility that creates uncertainty for global dealmaking. Still, the long-term trajectory is clear: Indian companies are increasingly hedging against economic and policy uncertainty within Asia’s third-largest economy, even as the Indian government works to stem dollar outflows and attract new foreign capital to reignite the country’s domestic growth engine.

  • Retirees set to convert super into ‘lifetime income’ with major bank’s new program

    Retirees set to convert super into ‘lifetime income’ with major bank’s new program

    One of Australia’s big four financial institutions, AMP, is set to launch an industry-first initiative on Monday that will allow retirees to convert their superannuation savings into guaranteed lifetime income, addressing widespread uncertainty among older Australians approaching their post-work years.

    The new product, named Lifetime Super Boost, is available to all existing AMP Super members. The program operates by creating a special concessional balance behind the scenes of a member’s account, which is calculated using the federal government’s official deeming rate — currently set at 2.75%. Over time, this concessional balance falls below the member’s actual total superannuation balance.

    When members reach retirement age, they have the option to transfer a portion of their super savings into an AMP Lifetime Retirement Income account. When Centrelink assesses eligibility for the government aged pension, the assessment is based on the lower concessional balance rather than the full value of the investment. This structure can potentially help retirees qualify for a larger government pension payment, while also allowing them to draw additional income from their separate Flexible Retirement Income account, according to AMP’s explanations of the program.

    The launch comes amid new internal data from AMP highlighting severe anxiety among Australians nearing retirement. The firm’s research found that 54% of Australians aged 58 to 60 report frequent stress or overwhelm around their retirement planning, with the same share — 50% — of 61 to 65-year-olds reporting identical negative feelings.

    Julie Slapp, AMP’s Director of Growth and Customer Solutions, noted that too many working Australians approaching retirement remain uncertain about the adequacy of their savings and how long their funds will last through their retirement years. “Australia has built one of the world’s strangest super systems,” Slapp explained. “The unmet challenge is helping members confidently turn their super into income they actually use. This offering provides the confidence of income for life, the potential for higher income, and the guidance members need to make informed decisions.” Slapp added that superannuation was “never meant to be just a balance on a screen”.

    Beyond retirement income products, AMP’s research also shines a new light on widespread concerns over aged care costs across Australia. The survey found that seven in 10 Australians over the age of 65 worry about how they will afford aged care support, as the national system currently faces an average 12-month wait for government-funded aged care services. According to AMP, for retirees eligible for high-level in-home care, the new structure could boost their total annual income by as much as 20% over two years, while helping them navigate the long waiting period for public aged care services.

    The issue of aged care access has become a high-profile political issue in Australia in recent months. Major populous states including New South Wales and Queensland have repeatedly raised alarms over hospital bed blocking, a crisis where public hospital beds are occupied by elderly patients and National Disability Insurance Scheme (NDIS) recipients who cannot access appropriate community or aged care supports after treatment. Earlier this month, NSW Health Minister Ryan Park revealed that as many as 1,200 public hospital beds across the state are taken up by these patients — a number he said equates to the entire capacity of two large, busy Sydney hospitals.

    On the federal level, the Albanese government has made reform of the aged care sector a key policy priority, while also pursuing major cost-cutting changes to the NDIS program to address long-term budget pressures.

  • Customers spending less as businesses pinched by Iran war crisis

    Customers spending less as businesses pinched by Iran war crisis

    Fresh data from Australia’s leading business industry body has highlighted a persistent downward trend in domestic consumer spending, even as the most severe disruptions from the Middle East fuel supply crisis have eased following a breakthrough diplomatic announcement. The Australian Chamber of Commerce and Industry’s latest bi-monthly analysis of fuel crisis impacts reveals that a growing share of businesses across four of Australia’s most populous states are reporting weaker customer demand, despite government interventions to lower fuel prices and a de-escalation of geopolitical tensions.

    In the survey, which polled more than 700 businesses across New South Wales, Victoria, South Australia, and Queensland between April 6 and 20, 55% of participating firms recorded weaker customer spending in April. This marks a notable 12 percentage point increase from the 43% of businesses that reported lower spending in March, a shift that occurred even after a temporary cut to Australia’s federal fuel excise took effect on April 1.

    While the share of businesses facing severe or major financial strain from elevated fuel costs dropped to 29% in April from 46% in March, an overwhelming 94% of respondents still reported experiencing at least some degree of negative impact from persistently high fuel prices. David Alexander, acting chief executive officer of the Australian Chamber of Commerce and Industry, noted that the combination of elevated fuel prices and successive interest rate increases has eroded household confidence, leading Australian consumers to pull back sharply on non-essential discretionary purchases.

    The survey also laid bare the widespread strain the fuel crisis has placed on Australian business operations. The share of companies that have chosen to absorb higher fuel costs rather than pass all increases on to consumers rose from 61% in March to 69% in April. Meanwhile, the proportion of businesses delaying planned investment or expansion projects climbed to 38% from 31% in the prior month, and more than 60% of all surveyed firms have cut their own non-essential operational spending to offset rising costs.

    Alexander warned that the economic fallout from global fuel supply disruptions is far from over, and will continue to drag on Australian business performance for the foreseeable future. “This is a worrying signal. Businesses pulling back on investment will impact economic growth in the months and years ahead,” he said.

    The survey’s release came just ahead of a landmark announcement from former U.S. President Donald Trump on Saturday evening, who confirmed an impending peace agreement with Iran that includes the full reopening of the Strait of Hormuz. The strategic waterway, which carries roughly one-fifth of the world’s total crude oil shipments, was closed by Iran amid escalating tensions, triggering a sharp spike in global fuel prices that hit Asia-Pacific markets particularly hard. The closure also sparked widespread fears of prolonged supply shortages for key products including refined diesel and agricultural fertilizer.

    The new report from the business chamber has called on Australian policymakers to maintain targeted support for affected businesses, to ensure that recent temporary drops in fuel prices translate into long-term improvement in business conditions and broader national economic activity. Additional findings from the survey show that 63% of businesses have seen transport and freight costs surge due to higher fuel prices, 43% have reported intensifying cash flow pressures, and 36% have ultimately passed at least part of their increased fuel costs through to end consumers.