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New Delhi, Apr 27 (BNP): The Indian rupee continued to weaken on Monday, slipping 11 paise to 94.27 against the US dollar in early trade, as global headwinds kept pressure on the domestic currency.

The decline marks the fifth straight session of losses, driven by a combination of rising crude oil prices, sustained foreign fund outflows, and heightened geopolitical tensions. These factors have increased demand for the US dollar while dampening sentiment toward emerging market currencies.

A major concern remains the surge in Brent crude, which has crossed the $106-per-barrel mark. Higher oil prices raise India’s import costs, leading to greater dollar demand from oil companies and putting additional strain on the rupee.

Foreign institutional investors have also continued to pare their holdings in Indian equities, reflecting caution in global markets and a tilt toward safer assets. This trend has further weighed on the currency.

Despite the pressure on the rupee, domestic equity markets showed resilience. The BSE Sensex and NSE Nifty 50 both traded higher in early deals, supported by selective buying in heavyweight stocks.

The contrasting movement highlights a divergence between currency and equity markets. While equities are responding to domestic cues and sectoral strength, the rupee remains sensitive to external risks.

Going ahead, the currency’s movement will depend largely on global oil price trends, geopolitical developments, and the direction of foreign capital flows.

New Delhi, Apr 27 (BNP): India’s leather industry is poised for significant expansion, with projections to reach $50 billion by 2030, driven by the recently concluded free trade agreement with New Zealand and a strategic move toward value-added manufacturing.

The Ministry of Commerce and Industry said the agreement will provide a major boost to exports by eliminating tariffs on all Indian goods from the date of implementation. Notably, duties on leather and footwear—earlier pegged at around 5%—will be brought down to zero, enhancing India’s competitiveness in international markets.

Union Commerce and Industry Minister Piyush Goyal and New Zealand’s Trade Minister Todd McClay underscored the strong synergy between the two economies during an industry outreach event in Agra. The partnership is expected to combine New Zealand’s raw material strength with India’s manufacturing scale and expertise.

Agra remains central to this vision, accounting for nearly three-fourths of India’s leather footwear output and holding a Geographical Indication (GI) tag. Policymakers and industry leaders are positioning the city as a global sourcing hub, capable of driving exports and employment generation.

Beyond tariff cuts, the agreement spans a wide range of sectors, including agriculture, pharmaceuticals, medical devices, education, and traditional medicine. Industry participants have welcomed provisions aimed at faster regulatory approvals and reduced compliance burdens, particularly through recognition of global standards.

The pact also places emphasis on talent mobility and deeper people-to-people engagement, opening new opportunities for professionals and students in both countries.

Overall, the India–New Zealand FTA is being viewed as a comprehensive and forward-looking framework that not only strengthens bilateral trade but also supports India’s ambition to move up the global value chain in manufacturing.

New Dehi, Apr 27 (BNP): India’s push for energy security is shaping up to be a long-term investment theme, likely to drive a broad-based capital expenditure cycle across the sector, according to 360 ONE Capital Markets.

The brokerage noted that evolving geopolitical risks, particularly in West Asia, are reinforcing the country’s focus on resilience, reliability, and reduced dependence on imports. This shift is expected to accelerate investments across key segments such as power generation, transmission infrastructure, energy storage, and fuel substitution.

Importantly, the policy narrative is undergoing a transition—from prioritising affordability and decarbonisation to ensuring supply security and self-reliance. This realignment is creating fresh opportunities across the entire energy value chain.

Although many energy stocks have already seen strong gains and are trading near their target levels, the brokerage believes the structural story remains intact. It recommends that long-term investors consider building positions selectively during market corrections.

Overall, energy security is increasingly being viewed not just as a policy necessity but as a defining driver of India’s infrastructure and investment growth in the years ahead.

New Delhi, Apr 27 (BNP): Indian equity markets opened on a strong note Monday, recovering after three consecutive sessions of losses, even as rising crude prices and ongoing geopolitical tensions weighed on global sentiment.

The BSE Sensex surged by over 500 points in early trade, reaching around 77,200, while the NSE Nifty 50 moved past the psychologically important 24,000 mark, gaining nearly 170 points.

The rebound was largely supported by buying interest in heavyweight stocks, particularly Sun Pharmaceutical Industries, which saw its shares rise sharply. The rally followed the company’s announcement of a major acquisition deal involving US-based Organon & Co.. The transaction, valued at approximately $11.75 billion, is structured as an all-cash deal and is expected to strengthen Sun Pharma’s global presence.

Market sentiment also improved in line with positive cues from international equity markets, where investors showed resilience despite concerns over elevated crude oil prices and geopolitical uncertainties.

Overall, the early gains suggest a cautious return of investor confidence, although volatility may persist given the broader global risk environment.

By- Mr. Sandip Weling, Chief Business Officer, Global Retail and Whole-time Director, Aptech Limited 

 “On this World IP Day 2026, we celebrate how intellectual property (IP) fuels innovation, protects creativity, and drives economic growth in the digital era. In the world of online and video-first content, IP plays a vital role in safeguarding original characters, storylines, game mechanics, virtual assets, and immersive experiences, empowering creators and studios to innovate with confidence. At Aptech, this is especially relevant to the immersive and rapidly expanding media & technology landscape. With specialized pathways in IP Development and Storytelling, across our AVGC brands Arena Animation and MAAC, our learners gain the expertise across a spectrum of content creation, from concept art and storytelling to programming, immersive world-building, and interactive experience design. As new content frontiers reshape entertainment, education, and enterprise upskilling, understanding intellectual property becomes essential. By combining industry-relevant training with IP awareness, we empower learners to create original digital experiences, protect their innovations, and lead the future of interactive media.”

 

 

Damascus, Apr 27 — Estithmar Holding Q.P.S.C., listed on the Qatar Stock Exchange, has signed an agreement to invest in Shahba Bank through its subsidiary Estithmar Capital. Under the deal, concluded this morning in Damascus, Masaref Holding, a subsidiary of Estithmar Capital, takes a 49% stake in Shahba Bank, marking a further step in Estithmar Holding’s regional expansion and deepening exposure to the financial services sector.

Masaref Holding LLC signed the agreement with representatives of Bemo Saudi Fransi Bank and Ahli Trust Bank.

The transaction forms part of Estithmar Holding’s strategy to diversify its portfolio and enter high-potential markets through targeted investments that support long-term growth, contribute to economic development in its operating geographies, and deliver sustainable value to shareholders. The move is expected to enable Masaref Holding to capitalize on opportunities in the Syrian market while supporting Shahba Bank’s growth and development plans, enhancing its operational efficiency and competitive positioning.

Commenting on the agreement, Juan Leon, Holding Chief Executive Officer of Estithmar Holding, said: “This transaction marks an important milestone in Estithmar Holding’s journey to expand its presence in the regional financial sector. It also reflects our commitment to contributing to the recovery of the Syrian economy and supporting its path towards renewed prosperity and relevance. Taking a significant stake in Shahba Bank aligns with our strategy to build a diversified investment platform that delivers sustainable growth and creates added value for our shareholders, while supporting economic development across the region.”

The agreement represents a key building block in the rehabilitation of Syria’s banking infrastructure and its reintegration with regional and global markets. This includes attracting foreign investment, modernizing the Syrian banking sector and raising its standards, enabling reconstruction efforts, as well as creating employment opportunities and developing national talent.

Fadi Al Faqih, Chief Executive Officer of Estithmar Capital, added: “This step reflects our investment approach of selectively targeting high-potential opportunities. We see Shahba Bank as a promising platform on which to build, enhancing performance and operational efficiency. We look forward to working closely with the management team to support expansion plans and deliver banking services that meet market expectations, strengthening the bank’s competitiveness and standing.”

Estithmar Holding had previously announced the establishment of its latest group, Estithmar Capital, a dedicated platform focused on financial investment management, strengthening corporate governance, and operating within robust compliance and risk management frameworks, reflecting its emphasis on sustainable, disciplined growth.

Estithmar Holding is a Qatari public shareholding company with a market capitalization exceeding $4.8bn. Its shareholder base comprises 4,509 shareholders, including 14% non-Qataris and 86% Qatari nationals, with 29% institutional and global investment funds and 71% individual investors. The Company operates across several sectors, including healthcare, services, real estate development and tourism investments, as well as specialized contracting and industries, in addition to financial investments. It employs more than 28,000 people from over 100 nationalities and has operations spanning more than 10 countries.

Hyderabad, Apr 27: Mars Incorporated and announced the launch of a new digital-first campaign for the PEDIGREE® brand in India, in collaboration with Indian cricketer and pet parent Jemimah Rodrigues. The campaign is based on the changing reality of modern pet-parenting, which encourages a shift towards more informed, nutrition-led feeding without compromising on what their pets love: taste. Equivalent to the protein of 8 chicken livers¹, combined with 100% complete and balanced nutrition, when fed as recommended, PEDIGREE® Gravy is a delicious and nourishing choice for pets. 

As a devoted pet parent and one of India’s prominent young sports personalities, Jemimah is known for her discipline, energy and performance-driven mindset. She lends her strong voice to the campaign, not only as a cricketer but also as a pet parent who understands the importance of making the right feeding choices for pets. 

PEDIGREE® Gravy is positioned as an everyday feeding solution, supported by the Waltham Petcare Science Institute. This reflects Mars Pet Nutrition’s leadership in the wet food category in India. By integrating decades of global nutritional research with formats that align with local feeding habits, the brand has significantly helped make balanced nutrition more intuitive and a complement to home-cooked meals.  

 The campaign brings this to life through cricket-themed films featuring Jemimah Rodrigues, capturing everyday moments between pets and their parents, and highlighting how PEDIGREE® Gravy can turn routine feeding into moments of joy and connection.

Ayesha Huda, Chief Marketing Officer, Mars Pet Nutrition India, said, “As the pioneers, Mars Pet Nutrition has contributed significantly towards creating the gravy category in India. Backed by decades of research from the Waltham Petcare Science Institute, we have helped shape the understanding of wet food as a complete nutritional option that aligns with familiar feeding habits. She added, “While pet parent intent is evolving, there remains a gap in everyday feeding practices, especially with over-reliance on home-cooked food that may not meet pets’ nutritional needs. With PEDIGREE® Gravy, we bring together irresistible taste and complete, balanced nutrition, making better feeding choices simpler, more relatable, and part of everyday routines.” 

Jemimah Rodrigues shared, “As a pet parent, I’ve always believed that caring for your pet goes beyond just feeding; it’s about knowing what’s right for them. Like in cricket, where the right nutrition fuels performance, I’ve realised the same applies to our pets. What I love about PEDIGREE® Gravy is that my pet Jade genuinely enjoys it, and at the same time, I know it provides complete nutrition. This campaign reflects those simple, everyday moments that matter to pet parents.“ 

This campaign launch is part of Mars’ broader commitment to drive category growth and build stronger awareness of wet food as a complete everyday feeding option, while encouraging more pet parents to adopt scientifically formulated food.

Apr 27: SK Group announced it will collaborate with Vietnam to build the country’s artificial intelligence (AI) industry ecosystem and develop core AI infrastructure.

At the Korea–Vietnam Business Forum held in Hanoi on April 23, SK Group signed separate memoranda of understanding (MOUs) with the Nghe An Provincial Government and Vietnam’s National Innovation Center (NIC) to foster AI ecosystem development.

The signing ceremony was held in the presence of Kim Jung-kwan, Minister of Trade, Industry and Resources of Korea, and Ngo Van Tuan, Minister of Finance of Vietnam.

The Memorandum of Understanding (MOU) between the Nghe An Provincial People’s Committee and SK Group was signed by Vo Trong Hai, Chairman of the Nghe An Provincial People’s Committee; Choo Hyeong-wook, President & CEO of SK Innovation; and Jung Jai-hun, President & CEO of SK Telecom.

Another MOU between the National Innovation Center (NIC) and SK Group was signed by Vu Quoc Huy, Director General of NIC; Choo Hyeong-wook, President & CEO of SK Innovation; and Jung Jai-hun, President & CEO of SK Telecom.

Chey Tae-won, Chairman of SK Group and Chairman of the Korea Chamber of Commerce and Industry (KCCI), also attended the ceremony.

Earlier, at the Korea–Vietnam Summit, the two countries agreed to expand cooperation in future growth sectors such as AI, semiconductors, and energy. SK Group’s MOUs with Vietnam represent this bilateral cooperation being put into action by the private sector.

Through these partnerships, SK Group plans to support Vietnam’s growth as a key partner in its national AI strategy. In addition, building on AI data center development and stable power supply, SK Group is expected to lay the groundwork for the first overseas expansion of its “Korean-style AI full-stack” model, linking AI model development and validation with the rollout of industry-specific AI services.

Joint AIDC feasibility study in Nghe An linked to the Quynh Lap LNG Power Project

SK Innovation and SK Telecom signed an MOU with the Nghe An provincial government to jointly explore developing an AIDC and related infrastructure projects in the region. Nghe An is a major economic hub in north-central Vietnam and has emerged as a fast-growing region for manufacturing, energy and advanced industries, supported by its port and logistics infrastructure.

SK Innovation will explore broad cooperation opportunities in energy solutions, including supplying electricity to the data center and building dedicated generation facilities connected to the Quynh Lap LNG Power Project, for which it was recently selected as the developer.

SK Telecom plans to review options for developing, building, and operating the AIDC while also seeking to secure global demand. The Nghe An provincial government agreed to discuss support measures to help advance the partnership, including permits, administrative procedures, inter-ministerial coordination and incentive programs.

In February, SK Innovation was selected as a developer for the Quynh Lap LNG power project in Nghe An Province, together with PV Power, a power generation subsidiary of Vietnam’s state-owned oil and gas group PVN, and local company NASU. The project is a large-scale energy infrastructure initiative that includes the development of a 1,500-MW gas-fired combined cycle power plant, an LNG terminal, and a dedicated port, with construction scheduled to begin in 2027 and completion targeted for 2030. From the proposal stage, SK Innovation also presented a model to foster high value-added industries by integrating SK Group’s AI and semiconductor capabilities in areas near the power plant, thereby laying the foundation for the current partnership.

At the forum, the Nghe An government also presented the SK Innovation consortium with the Investment Registration Certificate (IRC) for the Quynh Lap Power Project, reaffirming its commitment to the development.

“Drawing on SK Group’s experience in operating large-scale power generation and diverse energy solution businesses, we will ensure the successful development of the local power infrastructure,” said Choo Hyeong-wook, President & CEO of SK Innovation, during a presentation titled “Vietnam’s Economic Leap through AI + Energy Innovation.”

Cooperation with NIC to Build Vietnam’s AI Ecosystem

SK Telecom and SK Innovation also signed a comprehensive MOU with Vietnam’s NIC to support the development of the country’s AI ecosystem.

The two sides agreed to cooperate on AIDC development, energy infrastructure development and the establishment of policy and institutional frameworks to foster the AI industry.

Under the agreement, SK Telecom will support AI ecosystem development in Vietnam through technology collaboration and investment promotion, and SK Innovation will provide energy solutions for AIDCs and related industries. The NIC will provide institutional support, such as coordinating with government agencies, improving regulations and developing policy, while also identifying and connecting local partners to facilitate project execution.

Established in 2019 by the Vietnamese government, NIC serves as the country’s national innovation hub, leading initiatives in AI, semiconductors and investment promotion. SK Group has maintained a close partnership with NIC, including a previous $30 million contribution toward its establishment.

Jung Jai-hun, President and CEO of SK Telecom, said, “AI data centers are key infrastructure that underpins the growth of the AI industry. Building on SK Group’s accumulated capabilities in the development, construction, and operation of AI data centers, we will further refine a collaboration model tailored to the Vietnamese market.”

First Overseas Expansion of Chairman Chey Tae-won’s “AI Full-Stack Provider” Vision

This partnership in Vietnam is significant as it could mark SK Group’s first overseas expansion of the “AI full-stack provider” strategy, integrating capabilities in AIDC, power, and energy solutions.

Chairman Chey Tae-won has consistently articulated his vision of transforming SK Group into an “AI full-stack provider.” Leveraging SK Group’s strengths across the AI value chain—including semiconductors, data centers, power and energy solutions, and AI services—the Group aims to build the most efficient AI infrastructure model.

Under this vision, SK Group is advancing the development of the 100-MW hyperscale “SK AI Data Center Ulsan,” targeted for completion in 2027. The Group has also been laying the groundwork for Korea to emerge as an Asia-Pacific AI hub by engaging in discussions with OpenAI on collaboration for AI data center development in Korea.

Ahead of the Korea–Vietnam Business Forum, Chairman Chey Tae-won said at a business roundtable, “AI will play a critical role in Vietnam’s continued growth. SK Group has a portfolio spanning the entire AI ecosystem—from energy and semiconductors to AI models and applications—and we will leverage this to make tangible contributions to the development of Vietnam’s AI industry.”