Category: Business

Mumbai, June 23: Indian benchmark equity indices, Sensex and Nifty, opened on a subdued note on Tuesday as investors adopted a cautious approach despite signs of easing geopolitical tensions in West Asia.

The easing of tensions in the region has helped improve global market sentiment and reduced concerns over potential disruptions to crude oil supplies. This development provided some support to investor confidence, although market participants remained focused on broader economic and corporate factors.

Analysts noted that lower geopolitical risks could help stabilize energy prices and support equity markets. However, uncertainty surrounding global economic growth, interest rate outlooks, and upcoming economic data continued to keep investors cautious.

In early trade, sectoral movements remained mixed as investors assessed domestic and international developments. Market participants are also closely monitoring corporate announcements, foreign fund flows, and global market trends for further direction.

Experts believe that while easing tensions in West Asia have brought some relief to financial markets, volatility may persist in the near term as investors navigate evolving global and domestic factors.

Overall, Indian markets began the day on a steady footing, balancing positive geopolitical developments with caution over broader economic uncertainties.

LONDON/HOUSTON/SINGAPORE, June 23: The oil price bubble has burst. Wood Mackenzie forecasts Brent averaging $78 a barrel in 2027 and potentially easing to $70/bbl by Q4 2027, following a US-Iran Memorandum of Understanding that has shifted market sentiment away from a prolonged Strait of Hormuz closure. 

The pressure to reach an agreement was acute. On 15 June, President Donald Trump acknowledged that US reserves would run out “in about four weeks.” Inventories at the Cushing hub had fallen close to the operational floor. Those fundamentals, as much as diplomacy, brought both sides to the table. 

The Memorandum of Understanding, signed last week, gives both parties 60 days to negotiate a comprehensive agreement. Both have accepted in principle that the Strait should be reopened. But the gap between acceptance and execution remains wide. Israel’s apparent rejection of restrictions on its ongoing military action in Lebanon adds further uncertainty. Negotiations may need to be extended. They could fail. 

Brent averaged $92/bbl over the first half of 2026, buoyed by the elevated prices of March through May. Investor sentiment moved faster than the oil itself. In the four weeks to 16 June, positioning for higher Brent prices fell by around 80% from a five-year high. Wood Mackenzie’s vessel tracking data shows ships of all categories transiting the Strait reached a peak of 35 on 18 June, up from the low teens per day — but still well short of pre-war levels. 

The revised forecasts of $78/bbl in 2027, and a potential $70/bbl by Q4 2027, assume Strait transit flows normalise during August.  Alternating periods of elevated and depressed prices are likely as demand recovery, inventory rebuilding, and production ramp-up remain out of sync. Recovery will take months. The supply shock removed more than 11 million barrels per day of crude from global markets. Wood Mackenzie projects 70% of shut-in volumes could return within three months of the Strait reopening, and 90% within six months. The final one million barrels per day will take considerably longer.  

Refining margins tell the same story: better but not recovered. Jet crack spreads remain at almost double pre-war levels despite easing progressively over the past two months.

“A prolonged closure would have pushed Brent well above $150 a barrel,” adds Alan Gelder, Senior Vice President, Macro Oils, Wood Mackenzie. “The MoU changed that trajectory. But the full value chain, from wellhead through to Gulf Cooperation Council ports, will take the better part of a year to fully recover. Jet crack spreads running at almost double pre-war levels are the clearest signal that this market has not yet normalised. Getting the barrels back is a different challenge from reaching a deal.” 

“The contribution of working women towards the family is way beyond household income. A working woman is responsible for creating financial security and building towards key life goals such as homeownership and children’s education. At the same time, she needs to plan ahead for her long-term financial security and retirement independence. Life insurance solutions are designed to address various life stage needs. We believe that with increasing awareness and through informed decision-making (while choosing financial instruments), more working women will become financially prepared.”

Approximately 40,000 square feet of Grade A office space changes hands, underlining sustained demand for prime business district assets in Dubai

Dubai, UAE, 22nd June 2026: fäm Properties has facilitated the sale of approximately 40,000 square feet of office space at Vision Tower in Business Bay for AED124 million, the biggest commercial real estate deal of its kind ever recorded in Dubai.

The asset, a contiguous block of Grade A office space across multiple floors in one of Business Bay’s landmark towers, was acquired by a UAE-based company as part of its business expansion plans.

“The transaction reflects continued confidence among local businesses in Dubai’s commercial real estate market, with investors and occupiers maintaining their focus on established business- districts and institutional-quality assets,” said Firas Al Msaddi, CEO of fäm Properties.

“Demand for well-located, institutional-grade office space in Dubai has stayed consistent. Buyers active at this level are precise about location, building quality and tenant profile. Assets that meet that standard continue to move.”

Daniel McCullagh, Commercial Sales Manager at fäm Properties, said transactions of this size typically involve extended due diligence, multiple stakeholders and detailed commercial structuring.

Led by McCullagh, fäm’s commercial team advised on both pricing context and execution, drawing on transaction data recorded with the Dubai Land Department to benchmark value and demand across the district.

The deal adds to the commercial division’s activity in large-format office mandates, advising occupiers, investors and landlords across Dubai’s principal office markets.

London, 22^nd June 2026 – Carne Group (Carne), Europe’s largest third-party management company, today announced the appointment of John Parkhouse as President, strengthening its leadership as the firm accelerates execution of its long-term, client-led growth strategy. 

John Parkhouse brings more than 30 years’ experience in international financial services and asset management. He joins Carne following a distinguished career at PwC, where he spent over three decades advising global asset managers and investment fund groups, and most recently served as Territory Senior Partner and CEO of PwC Luxembourg, leading a business of circa 4,000 professionals. 

As President of Carne Group, John Parkhouse will lead the Global Executive Committee and be responsible for executing group strategy, ensuring a client-led focus as Carne continues to scale its platform and capabilities globally. 

John Donohoe, Founder and Group CEO, remains CEO, with a focus on innovation, long-term strategy and value creation. John Parkhouse will report directly to him. 

This partnership combines deep operational leadership with founder-led vision, strengthening Carne’s ability to continue focusing on serving clients and building talent. 

A key driver of the firm’s next chapter is the growing adoption of the ‘Supermanco’ model, where managers are increasingly looking beyond compliance and asking specialist operational partners to also help them launch products faster, enter new asset classes, navigate different fund structures, and grow across markets.  

This demand is being driven by a structural shift in the asset management industry, where traditional operating models are struggling in the face of increased competition and complexity. Carne has invested heavily in developing the technology and expertise to help its clients overcome this at scale.  

John Parkhouse’s appointment represents the latest milestone in Carne’s longstanding growth strategy, which includes the recent announcement of Permira as a significant minority investor (subject to regulatory approval). Parkhouse’s appointment reflects the scale, credibility and momentum of Carne’s business today, combining strong client demand, the confidence of a significant new investor, and experienced leadership focused on accelerating what comes next. A key part of John Parkhouse’s role will be working with Permira to maximise the value they can bring.  

John Donohoe, Founder and Group CEO of Carne Group, said: “John’s track record and prominence as a figurehead in the asset management industry, combined with his reputation for being relentlessly client-led, makes him an ideal fit as we build on the phenomenal success Carne has achieved so far, and enter a phase where disciplined execution and client experience are just as important as ambition and innovation. 

This is not just an investment in Carne’s future, but an investment in our clients’ future. John brings the experience and leadership to ensure that, as we scale, the people who build this business and the clients we serve all feel the benefit of what comes next.” 

John Parkhouse, President of Carne Group, added: “Carne has built a hugely impressive combination of people, technology and ambition that positions the business to play a key role in the future of our industry. Having spent more than three decades advising asset managers, I am convinced this is a moment of genuine opportunity, both for Carne and its clients. 

In the last few years, product innovation and distribution have increasingly outpaced operating models, leaving many managers struggling to keep up. This is where Carne’s redefined vision of the Supermanco comes in: we provide the operational backbone that enables managers to achieve their growth ambitions, against a backdrop of rising costs, competition and operational demands. We’re able to help clients accelerate towards their goals: move faster, grow with confidence and navigate increasing complexity safely, and at scale. I’m hugely excited to be part of that.”

Carne’s leadership position is further reinforced by the PwC 2026 Observatory for Management Companies Barometer and Monterey Insight’s latest report, which have recognised Carne as the largest third-party management company (ManCo) by assets under management (AUM) in Luxembourg and Ireland, respectively. Together, these reports confirm Carne’s position as the largest third-party ManCo in Europe, overseeing more than $1 trillion in AUM globally.

June 22: Swiggy, India’s pioneering on-demand convenience platform, revealed how Father’s Day is rapidly growing in popularity across India as an occasion for celebrations and indulgence, with increasing number of users either opting to order in or step out to celebrate the day. 

Swiggy Dineout recorded a substantial 42.6% surge in premium-dining reservations compared to Father’s Day last year (15 June 2025) indicating a trend of grand celebrations on the day. Also, total bookings on Swiggy Dineout grew by 16.9% over Father’s Day last year. Bengaluru seated the highest number of diners nationwide, followed closely by Delhi and Hyderabad. The momentum was equally visible in emerging cities, with premium dining bookings recording an increase of 63.2% as compared to Father’s Day last year. In the emerging cities, Ahmedabad seated the highest number of diners, followed by Jaipur and Chandigarh.

Fathers across the country were also pampered with lavish feasts. A consumer in Bengaluru registered the single highest transaction in the country, spending INR 117,284 on a Swiggy Dineout booking. A group of 30 in Dehradun gathered to celebrate together, marking the largest group booking in India. Together, customers across the nation saved over INR 6.1 crores through Swiggy Dineout during these celebrations.

Celebrations also continued with sweet treats delivered throughout the day and food orders on the Swiggy platform increased 16% compared to Father’s Day last year (15 June 2025). Swiggy delivered an average of 9,757 cakes per hour on Father’s Day and Choco Lava Cakes, Choco Truffle Cakes, and Pineapple Cakes were the top choices for celebrating dads. The cake orders peaked at 7:56 PM when over 500 cakes were ordered in a single minute 

While metro cities- Bengaluru and Mumbai led the volume with close to 55,000 cake orders, the enthusiasm was equally vibrant from emerging cities. Patna, Dehradun and Ludhiana topped the charts for cake orders among emerging markets, signaling that Father’s Day is being celebrated across cities. Also, Nagpur witnessed the largest single cake order of the day, with a customer ordering an assortment of 24 cupcakes spanning strawberry, blueberry, butterscotch, and chocolate.

Jammu & Kashmir June 22: Samsung India brought its flagship innovation and education programme, Samsung Solve for Tomorrow 2026, to Jammu & Kashmir, engaging 452 students through Design Thinking Workshops that explored how artificial intelligence and human-centred innovation can be used to address real-world challenges facing their communities.

The Design Thinking Workshops introduced participants to Samsung’s human-centred innovation framework, equipping them with practical tools to identify everyday challenges, understand user needs and develop technology-led solutions with meaningful social impact.

Held in Army Public School, Ratnuchak Jammu and Government Degree College Baramulla the workshops encouraged students to explore innovation opportunities across digital accessibility, community development, education and smarter civic infrastructure.

The workshops forms part of Samsung’s nationwide effort to expand innovation opportunities beyond metropolitan centres. As part of Solve for Tomorrow 2026, Samsung is conducting Design Thinking Workshops across 100 cities spanning Bharat, enabling young innovators from diverse backgrounds to build future-ready problem-solving and entrepreneurial skills.

Among them was Zamin Anayat Lone from Government Degree College Sopore, Baramulla, who conceptualized a mobile application designed to improve accessibility and emergency response through SOS alerts and live-location sharing features.

“The workshop taught me that innovation begins with understanding people and their experiences. It encouraged me to think about how technology can be used to create meaningful solutions that positively impact communities,” said Zamin.

The workshops also inspired participants to examine how technology could strengthen public services and improve quality of life. Gagandeep Singh from Army Public School, Ratnuchak explored technology-enabled approaches to support more efficient waste management systems, while Garima Yadav, a Class IX student, examined how digital platforms could help students access career awareness and skill-development opportunities.

The ideas emerging from the workshops reflected the growing innovation potential of Jammu & Kashmir’s youth. Participants demonstrated how Design Thinking can transform everyday observations into scalable solutions that address local needs while creating broader social impact.

Samsung Solve for Tomorrow is Samsung India’s flagship innovation competition for young people aged 14–22 years. The programme encourages participants to develop solutions under four themes — AI for a Better Tomorrow, Health & Education, Environmental Sustainability, and Sport-Tech.

As Samsung celebrates 30 years in India, the company continues to invest in nurturing the country’s next generation of innovators by bringing innovation, mentorship and entrepreneurial opportunities closer to students across Bharat.

The programme will culminate with the top four winning teams receiving incubation grants worth INR 2 crore through FITT, IIT Delhi, along with mentorship, training, prototyping support and access to India’s startup ecosystem.

Applications for Samsung Solve for Tomorrow 2026 are open until July 3, 2026.

Samsung Newsroom India:  Samsung Solve for Tomorrow Brings Design Thinking to Jammu & Kashmir, Inspires Youth to Build AI–Powered Solutions for Local Challenges

Bengaluru, June 22: Abhee Ventures, one of Bengaluru’s real estate developers, today announced its partnership with Shivamogga Yodhas as the team’s Title Sponsor for the upcoming Maharaja Trophy KSCA T20 2026, Karnataka’s premier franchise-based T20 cricket tournament.

The partnership reflects Abhee Ventures’ commitment to supporting sporting excellence in Karnataka while strengthening its engagement with communities across the state. Bringing together two homegrown brands with deep roots in Karnataka, the association celebrates ambition, performance, and the pursuit of excellence both on and off the field.

Speaking on the partnership, Mr R Nagaraj Reddy, Founder & Managing Director, Abhee Ventures, said,

“As a homegrown Bengaluru developer, we are proud to support a team that represents the spirit and sporting talent of Karnataka. Cricket has a unique ability to bring communities together and inspire the next generation. Through this partnership with Shivamogga Yodhas, we look forward to celebrating the passion, resilience, and ambition that define both sport and the communities we serve.”

The Maharaja Trophy KSCA T20 has emerged as one of Karnataka’s most prominent cricketing platforms, providing talented players with the opportunity to compete at a high level and showcase their potential. Through this association, Abhee Ventures will engage with cricket fans across the state while supporting a tournament that continues to nurture and promote emerging cricketing talent.

The association also aligns with Abhee Ventures’ broader vision of promoting active and wellness-oriented lifestyles through its residential developments. As sports and fitness become increasingly important considerations for homebuyers, the company is exploring ways to integrate sports-centric experiences and infrastructure into its future communities. The partnership further complements the upcoming launch of Abhee Ventures’ flagship project, Codename New Dimension, where sports and active living form a key part of the development philosophy.