Stanley Carvalho

Sammaan Capital, formerly Indiabulls Housing Finance, reported a significant loss of ₹8,101 crore for the March quarter. Revenue from operations declined while impairments on financial assets surged. The company has completed a transaction with Abu Dhabi's IHC Group, which now holds a substantial equity stake. Sammaan Capital received substantial funds from this transaction.

Magomed Ankalaev is reportedly set for a major return fight against Khalil Rountree Jr. in the UFC Abu Dhabi main event on July 25. This bout marks Ankalaev's first since losing the light heavyweight title, while Rountree Jr. also seeks to rebound from a recent defeat. Both fighters aim to reignite their championship aspirations in this high-stakes clash.

The Strait of Hormuz, a vital oil route, faces potential prolonged closure. This situation mirrors past disruptions, raising concerns about global energy supplies and economic stability. While diplomatic efforts are underway, the possibility of a lengthy shutdown necessitates careful planning. Nations are exploring alternative routes and stockpiling resources.

As India grapples with escalating fuel and plastic costs, the situation is further exacerbated by supply disruptions in West Asia, jeopardizing oil access. This trend is likely to squeeze the economy, pushing inflation and interest rates upward.

A liquefied natural gas tanker from Abu Dhabi has exited the Strait of Hormuz. This marks an increase in energy shipments through the crucial passage. The vessel is heading to India. This comes as energy flows through Hormuz see a slight rise. The strait had been largely closed to LNG traffic since late February. This situation had impacted global supply.

Pakistan is proposing a bonded storage plan to boost its energy security by allowing international suppliers to hold petroleum stocks. The government aims to build strategic reserves, funded by a levy on fuel, and increase local supply capacity. This initiative comes as Pakistan lacks strategic petroleum reserves despite heavy reliance on Gulf imports.

Global financial institutions and Indian mutual funds have bought a 5.3 percent stake in Premier Energies. The deal involved promoters selling shares worth over Rs 2,291 crore. This investment comes as Premier Energies secured significant orders for solar cells and modules. The company is expanding its manufacturing capacities for cells and modules.

The exit of an LNG tanker from the Strait of Hormuz marks a pivotal moment for India, signaling its first shipment from the Persian Gulf in light of the ongoing Iran conflict.

WHEN my wife asked me if I could hold the fort for a week as she was going out of town, I agreed without batting an eyelid.