Indian Markets Slip as West Asia Tensions Shake Investor Confidence

Mumbai, May 8 (BNP): Indian equity markets opened lower on Friday as rising tensions between the United States and Iran unsettled global investors and pushed crude oil prices sharply higher. The cautious mood across international markets weighed on domestic sentiment, dragging benchmark indices into the red during early trade.

The BSE Sensex declined more than 500 points in the morning session, touching an intraday low of 77,291.72, while the NSE Nifty50 dropped nearly 170 points to trade around 24,158.

Selling pressure was visible across banking, automobile, and oil-linked stocks. Private and PSU banking counters were among the biggest drags, alongside auto majors such as Mahindra & Mahindra, Tata Motors, Maruti Suzuki, and Eicher Motors. Financial stocks including HDFC Bank, ICICI Bank, Axis Bank, and Shriram Finance also traded lower.

Despite the weak broader sentiment, defensive sectors offered some support to the market. IT, pharmaceutical, healthcare, and chemical stocks managed to stay in positive territory as investors looked for relatively safer bets amid rising uncertainty.

Market analysts said investors remain nervous due to the continuing “escalation-de-escalation” cycle in West Asia, which has kept oil prices volatile and global markets on edge.

Experts also pointed out that India’s broader market continues to show resilience despite geopolitical worries. The Nifty Midcap index recently touched record highs, reflecting sustained investor interest in mid-sized companies even as valuations remain elevated.

The latest round of tensions emerged after Iran accused the United States of breaching a month-long ceasefire agreement. Tehran claimed that American forces targeted oil tankers and civilian locations near the Strait region following naval confrontations on Thursday. Washington, however, described the military action as retaliatory after alleged attacks on US naval vessels.

US President Donald Trump said the ceasefire was still in place and added that Washington was waiting for Iran’s response to a fresh peace proposal.

The geopolitical uncertainty triggered a fresh rally in oil prices. Brent crude climbed nearly 3 per cent to trade above $102 per barrel, while US West Texas Intermediate (WTI) crude surged around 4 per cent to nearly $99 per barrel.

Asian markets also reflected the cautious sentiment, with Japan’s Nikkei, Hong Kong’s Hang Seng, and South Korea’s KOSPI trading lower during the session.

On Wall Street overnight, US markets ended modestly weaker, with the S&P 500 slipping 0.38 per cent and the Nasdaq closing 0.13 per cent lower.

JioHotstar x Swiggy Unlock Match-Time Commerce at Scale, Redefining Interactive Streaming

Mumbai, May 08: In a defining leap for the future of streaming, JioHotstar, in partnership with Swiggy, introduced a first-of-its-kind in-app food ordering experience natively integrated within its platform.With over 37 million users already experiencing the feature during the ongoing cricket season, the integration combines live sports, contextual triggers and seamless in-app checkout, a capability that moves beyond discovery to enable real-time transactions within the streaming environment.

Available across 690+ cities, the experience allows viewers to browse restaurants, unlock exclusive match-triggered and ‘can’t miss’ offers, place orders, and track deliveries, all without leaving the live stream. Built exclusively for mobile, the feature enables a fully native and seamless journey from discovery to checkout within the JioHotstar platform, creating a more immersive, rewarding, and transaction-led match–time experience for fans through contextual engagement and exclusive moments designed specifically for live consumption.

As the experience has scaled, early signals are highlighting notable match–time ordering trends and how millions of users are actively engaging with the in-stream journey. Burgers have overtaken biryani as the most popular dish during live matches, signalling a shift in fan preferences, while impulse ordering continues to surge, with one user placing as many as 34 orders over the season. In a standout moment, a single user ordered over 100 burgers in one transaction, reflecting the scale of group consumption during key match moments.

Engagement remains high, with repeat visits to the in-app ordering section and high-value transactions, including a single order worth ₹6,801, and savings of up to ₹12,947 unlocked by another user through match–time offers, alongside deliveries completed in as little as 10 minutes and 42 seconds.

The highest overall ordering volumes were observed during Mumbai Indians matches, while the RCB vs Rajasthan Royals game recorded the highest single-match ordering peak. Match dynamics are also influencing behaviour, with high-intensity games driving peak ordering activity, while cities such as Hyderabad, Bengaluru and Delhi lead overall trends, alongside strong participation from emerging markets like Patna and Pune.

Rooted in the strong consumer behaviour of “order while you watch,” the collaboration brings together two category leaders to enable a more connected in-stream journey. It builds on JioHotstar’s broader approach to elevating the match–time environment through AI-led discovery, interactive formats and real-time commerce, while reiterating Swiggy’s focus on ensuring unparalleled convenience for its users.

Speaking about the initiative, Ishan Chatterjee, CEO – Sports, Jiostar said, “We are moving towards a world where the boundaries between content and commerce are becoming increasingly fluid. Streaming platforms will no longer operate in isolation, but as integrated environments that anticipate and enable what users want to do in the moment. Bringing together live sports and real-time commerce is an early expression of that future, one where engagement is not just about watching, but about acting in the moment.”

Speaking about the partnership, Rohit Kapoor, CEO, Swiggy Food Marketplace, said “Live sports viewing has evolved into a highly interactive experience, where fans often multitask while staying deeply engaged with the action. Ordering food during a match is already second nature for many viewers, and our partnership with JioHotstar allows fans to enjoy their favourite food and the match at the same time, without missing out on either.”

The experience is amplified through a high-energy ‘Match On, Munch On’ campaign built around match–time spontaneity and fan behaviour, with the call to action: “Iss cricket season… JioHotstar pe ‘Swiggy’ karo. Tap. Order. Eat. Repeat. Match On. Munch On.” Rolling out across digital, social, and the extensive JioStar television network, the campaign seamlessly integrates on-air moments with in-app actions, showcasing how the platform is hyper-serving sports fans through contextual, real-time experiences that allow them to order food without interrupting their viewing journey.

The integration reflects JioHotstar’s broader focus on building a more immersive and intuitive viewing ecosystem, where entertainment extends beyond passive consumption into more contextual and interactive experiences. From innovations such as Shop The Look and Conversational Voice Discovery to interactive viewing formats, commerce-led integrations, and personalised engagement journeys, the platform continues to evolve around how audiences discover, consume, and participate in entertainment today..

TiE Women Roadshow held at T-Works

Hyderabad, May 08:  TiE Hyderabad, which stands for The Indus Entrepreneurs and which is a global nonprofit organisation focused on fostering entrepreneurship through mentoring, networking, education, funding connections, and incubation, organised TiE Women Roadshow on Thursday at T-Works in Raidurgam in the city.

Over 100 women, aspiring entrepreneurs from different walks of life, participated in the roadshow.

The Roadshow was organised to create awareness about TiE Women, which is a unique program that helps women founders grow their startups by giving them mentorship, training, networking, visibility, and investor access. The larger idea is to increase and support women’s entrepreneurship globally. Part of that is a pitch competition. The 7th Edition of TiE Women will be held later in the year, for which entries are invited from women entrepreneurs from across Telangana. The last date to apply is May 10, 2026.

TiE Women 2026, targets 200 Applicants with statewide Outreach

Announcing an ambitious expansion plan, Murali Kakarla, President, TiE Hyderabad emphasized that language should not be a barrier for aspiring women entrepreneurs. “Let language not stop women from participating,” he said, adding that special Telugu knowledge-sharing and pitching sessions will be conducted to encourage women founders who are comfortable communicating in Telugu.

He also clarified that there is no entry fee to participate in the TiE Women program.

Don’t ignore simple ideas that crop up in your daily lives. Many great companies were built on the simple ideas. Consider TiE Hyderabad as launchpad for your startup.

Dr Murali Bukkapatnam, Past Chairman of the Global Board of Trustees, said entrepreneurship is incomplete until women are involved. “Mera Bharath cannot be Magan until women actively contribute to the nation’s GDP”.

This year, the Chapter will be conducting roadshows in Tier 2 cities of Telangana, like Nizamabad, Warangal, Karimnagar and others.

Ankit Sanjay Shah, TiE Hyderabad Committee Chair for TiE Women, described the initiative as a flagship global program that collaborates with over 60 TiE chapters worldwide to embrace, engage, and empower women entrepreneurs through mentorship, investor connects, networking opportunities, and entrepreneurial development programs. Each participating chapter selects one woman entrepreneur to represent it at the Regional Global Pitch Competition, which will be held later this year in one of the Indian cities. Over the years, TiE Hyderabad has engaged and mentored more than 600 women entrepreneurs, with over 100 receiving structured mentorship support.

Highlighting the program’s impact, Murali Kakarla noted that last year’s winner, Sowmya Darapaneni, Founder of Avinya Neurotech, was featured on the prestigious TiE50 and TGS100 global lists of promising startups.

TiE Women Hyderabad has so far engaged over 600 women entrepreneurs and facilitated more than $352,000 in equity-free grants, underlining its tangible contribution to strengthening the startup ecosystem.

Shanthala Veigas, Senior Director, TiE Hyderabad, said that building on the success of last year’s Nizamabad roadshow, the initiative will expand its outreach across Tier-2 cities, including Nizamabad, Warangal, Karimnagar, Khammam, and other parts of Telangana.

The roadshow brought together entrepreneurs, aspiring founders, investors, and ecosystem enablers, providing a vibrant platform for networking, collaboration, and the exchange of ideas.

Women entrepreneurs across Telangana are invited to apply for TiE Women 2026 by expressing their interest through the official application link. Through this expanded edition, TiE Hyderabad reaffirmed its commitment to empowering women founders, enabling access to mentorship and global exposure, and strengthening their role in shaping the region’s entrepreneurial landscape.

MV Reddy of the TiE Women 2026 Committee shared the eligibility criteria for the TiE Women pitching contest focus on supporting women-led startups with strong growth potential. To qualify, a startup must be founded or co-founded by women, and women co-founders must hold at least 33% equity in the company. The business should be registered after January 1, 2019, and must be less than ten years old. Additionally, the startup should be actively raising funds, while idea-stage startups are not eligible for participation. Although these criteria apply specifically to the pitching contest, women entrepreneurs and aspiring founders at any stage are encouraged to participate in TiE Women sessions and events.

A Panel discussion ‘Future is Female’ was held, and Deepa Pulipati, Vijayalakshmi Raghavan, Ankit Shah and Shanthala Veigas participated.

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DP World Launches War Risk Insurance to Secure West Asia Cargo Routes

Dubai, May 7 (BNP): Global logistics major DP World has launched a dedicated cargo war risk insurance solution aimed at strengthening the safety and resilience of trade operations across key West Asia shipping routes amid rising geopolitical uncertainty.

The new offering is designed to protect businesses from financial losses arising due to conflict-related disruptions, including risks linked to armed conflict, route instability, and supply chain interruptions in sensitive maritime corridors.

According to the company, the initiative will provide enhanced risk coverage across logistics operations, helping cargo owners, exporters, and shipping operators maintain continuity even in volatile trade environments.

DP World said the move comes in response to increasing challenges faced by global supply chains, where geopolitical tensions have led to higher insurance costs and operational uncertainties for trade passing through critical sea routes.

The company added that the solution aims to improve confidence among international traders by offering better financial protection and reducing exposure to unpredictable disruptions.

With this launch, DP World has further strengthened its role as a global logistics provider focused on ensuring secure, reliable, and resilient trade flows across international markets.

India–Vietnam Innovation Ties Will Shape Asia’s Future: Devendra Fadnavis

New Delhi, May 7 (BNP) : Maharashtra Chief Minister Devendra Fadnavis on Thursday said that entrepreneurs and innovators from India and Vietnam will play a decisive role in shaping the future economic trajectory of Asia, as the region moves towards a more innovation-driven growth model.

He observed that both countries are witnessing rapid expansion in their startup ecosystems, digital capabilities, and manufacturing strength, creating strong foundations for deeper bilateral collaboration. According to him, this shared momentum can be harnessed to build stronger economic linkages and new opportunities for investment and trade.

Fadnavis emphasised that Asia’s future growth will increasingly depend on knowledge-based industries, technology adoption, and innovation-led enterprises, rather than traditional economic drivers alone. In this context, India and Vietnam are well-positioned to emerge as key contributors to regional transformation.

He further highlighted the role of young entrepreneurs in both countries, noting that their ideas, technological adaptability, and global outlook will be central to building scalable solutions for future challenges.

The Chief Minister also underlined that enhanced cooperation in sectors such as digital technology, manufacturing, startups, and skill development will not only strengthen India–Vietnam relations but also contribute to broader regional economic stability.

He added that platforms encouraging business exchange, innovation partnerships, and cross-border collaboration will be essential in unlocking new growth opportunities in the coming years.

Overall, Fadnavis’ remarks reflect a growing emphasis on strategic regional partnerships aimed at fostering innovation, economic resilience, and long-term sustainable development across Asia.

Indian Banks Set to Navigate RBI’s New Credit Loss Norms Smoothly, Says Report

New Delhi, May 7 (BNP): Indian banks are expected to comfortably manage the transition to the Reserve Bank of India’s (RBI) upcoming Expected Credit Loss (ECL) framework, which is scheduled to come into effect from April 1, 2027, according to a report released on Thursday.

As per an analysis by Fitch Ratings, the shift from the existing incurred-loss model to a forward-looking provisioning system is unlikely to significantly disrupt the banking sector, as lenders have strengthened their balance sheets and built adequate capital buffers in recent years.

The ECL framework requires banks to recognise potential loan losses in advance, marking a structural change in how credit risk is assessed and bringing India’s banking regulations closer to global accounting standards.

Fitch estimates that the implementation of the new system could lead to a marginal decline in the sector’s common equity Tier-1 (CET1) ratio by around 30 basis points in FY28. However, under the Reserve Bank’s proposed phased transition or “glide path,” the cumulative impact may increase to around 80 basis points over the adjustment period.

The agency noted that current provisioning levels across Indian banks are relatively strong, which is expected to help absorb the impact of the regulatory shift.

Despite the short-term adjustment, Fitch maintained a positive outlook on the Indian banking sector, stating that the finalisation of ECL norms reflects stronger regulatory oversight and improved risk management practices.

Over the long term, the framework is expected to enhance transparency in recognising credit stress and encourage earlier provisioning against potential defaults, thereby improving financial stability.

Earlier assessments also indicated that Indian banks remain well-capitalised, with strong capital adequacy ratios and robust Tier-1 capital levels, providing sufficient cushion to manage the transition with limited disruption.

Overall, while profitability and capital ratios may face some near-term pressure, analysts view the ECL framework as a positive step toward strengthening the resilience and global alignment of India’s banking system.

ROX to Establish One of the Middle East’s First Advanced AI Manufacturing Centres in KEZAD’s KLP 1 Musaffah

The 10,000 sqm facility will begin operations in H2 2026, targeting an annual production capacity of 300,000 vehicles by 2030 and contributing up to 10% to the UAE’s Operation 300Bn initiative 

Abu Dhabi, United Arab Emirates – 07 May 2026: Khalifa Economic Zones Abu Dhabi – KEZAD Group, the largest operator of integrated and purpose-built economic zones in the region, announced that it has signed a strategic lease agreement with ROX to establish one of the Middle East’s first advanced AI manufacturing centres in KEZAD Logistics Park (KLP 1), KEZAD Musaffah. 

The 10,000 square metre facility within KEZAD’s industrial ecosystem will support the development of ROX’s operations, reinforcing Abu Dhabi’s position as a competitive destination for vehicle manufacturing and industrial production in the region. 

The advanced AI manufacturing centre is set to begin operations in the second half of 2026, with a target annual production capacity of 300,000 vehicles by 2030, with the potential to contribute up to 10% to the UAE’s Operation 300Bn initiative. Once operational, it will support vehicle production and export across the Middle East and global markets through scalable, intelligent manufacturing capabilities, supporting ROX’s global expansion while advancing KEZAD’s role in next-generation mobility industries. 

Abdullah Al Hameli, CEO, Economic Cities & Free Zones, AD Ports Group, said: “Our agreement with ROX reflects KEZAD’s continued role in enabling industrial growth by attracting high-quality investments into Abu Dhabi. As global supply chains evolve, KEZAD provides businesses with the infrastructure, connectivity, and regulatory environment required to scale efficiently and compete internationally.” 

Jarvis, Founder and CEO of ROX said: “Through our agreement with KEZAD Group, we are bringing advanced manufacturing capabilities to Abu Dhabi and helping position the UAE as a globally connected manufacturing and export hub, supporting a broader supply chain around our manufacturing footprint, regional expansion, and the UAE’s long-term industrial ecosystem.” 

Mohammad Al Kamali, Chief Trade & Industry Officer, Abu Dhabi Investment Office (ADIO), said: “Abu Dhabi is building one of the world’s most competitive and future-ready industrial ecosystems, where strategic investments are rapidly translated into scaled manufacturing capability and global market access. The establishment of ROX’s facility in KEZAD, facilitated by ADIO, deepens the foundations of this growing ecosystem. More specifically, it reinforces the emirate’s role as a destination of choice for advanced industry, underpinned by world class infrastructure and market connectivity. 

As Abu Dhabi accelerates industrial growth, it is not only strengthening supply chain resilience and local production, but positioning Abu Dhabi at the forefront of global manufacturing and trade transformation.” 

Located within KEZAD Musaffah’s KLP project, the facility will benefit from KEZAD’s multimodal logistics connectivity, and access to competitive utilities, supporting efficient operations and enabling access to regional and global markets. 

As a global AI technology company, ROX integrates advanced new energy technologies with the UAE’s distinctive approach to luxury and outdoor lifestyles. The brand has emerged as a strong contender in the luxury all-terrain SUV segment across the UAE and wider MENA region. To further deepen its presence in core markets and accelerate global expansion, ROX aims to leverage KEZAD’s world-class industrial infrastructure, multimodal logistics network, and established industrial ecosystem to develop a benchmark project for high-end intelligent automotive manufacturing in the Middle East. 

The agreement aligns with broader industrial growth trends in Abu Dhabi, where strong foreign direct investment inflows and rising non-oil trade continue to drive demand for industrial land, manufacturing capacity and infrastructure. The UAE’s non-oil foreign trade reached AED 3.8 trillion in 2025, underscoring the scale and momentum of economic diversification efforts. 

As industrial ecosystems become more integrated and globally connected, agreements of this nature highlight KEZAD’s role not only as a facilitator of business activity, but as a platform shaping the future of manufacturing, trade, and logistics in the region.

Malaysia Airlines and Mumbai Indians Bring Cricket to 30,000 Feet

Mumbai, May 07: Malaysia Airlines and Mumbai Indians today unveiled a new campaign film that reimagines the fan experience by bringing cricket to 30,000 feet. The film blends the thrill of the sport with the warmth of Malaysian Hospitality, celebrating the growing partnership between the two brands.

Titled “Cricket at 30,000 Feet”, the film follows a young Mumbai Indians fan whose ordinary journey transforms into an unforgettable mid-air experience. Joined by cricket stars Rohit Sharma, Hardik Pandya and Trent Boult, the fan experiences the spirit of the game in an unexpected setting, capturing the energy of cricket fandom and the joy of travel.

The campaign reflects Malaysia Airlines’ continued commitment to the Indian market and its ambition to connect with customers through culturally resonant storytelling, premium experiences and meaningful partnerships. It also brings to life the airline’s signature Malaysian Hospitality in a way that resonates strongly with cricket fans across the region.

Bryan Foong, Chief Executive Officer of Airline Business from Malaysia Aviation Group (MAG), said: “India is one of our most important growth markets, and cricket is a powerful passion point that connects millions of people across the country and beyond. Through our partnership with Mumbai Indians, we have a unique platform to engage fans in a way that feels natural, relevant and culturally meaningful. This campaign allows us to bring Malaysian Hospitality into that conversation while strengthening brand affinity, supporting travel demand, and driving deeper commercial relevance in a key market for the airline.”

A Mumbai Indians spokesperson added: “This film captures something that is true to Mumbai Indians, the love for this team travels far beyond boundaries and resonates with fans across the world. To see that come alive aboard a Malaysia Airlines flight, with our players at the heart of it, makes for a truly special moment. It reflects a partnership that continues to find fresh and creative ways to bring us closer to our fans.”

Malaysia Airlines is the Official Global Airline Partner and Associate Sponsor of Mumbai Indians, with branding featured on the team jersey. Since its launch, the partnership has delivered a series of fan-focused activations, including the Mumbai Indians-themed A330-300 aircraft livery, in-stadium experiences at Wankhede Stadium, and digital content collaborations throughout the season.

Building on a successful first season together, Malaysia Airlines and Mumbai Indians remain committed to creating memorable experiences for fans both on the ground and in the skies.