Iran's national currency has collapsed to a historic low of 1.8 million rials per US dollar, raising severe inflation fears across the country. The plunge follows weeks of relative stability during the conflict that began February 28, when limited market activity had temporarily shielded the rial. The currency's renewed freefall is driven by a US blockade curtailing oil exports, ongoing international sanctions, and fragile ceasefire conditions. Economists warn that rising import costs for food, medicine and essential goods will intensify household hardship. This crisis echoes January's shock drop from 1.4 to 1.6 million rials, which triggered widespread public protests, raising fears that deeper economic deterioration and fresh civil unrest may lie dangerously ahead. (PC: X)

The United Arab Emirates will exit OPEC and OPEC+ from May 1, a move that could reshape global oil markets amid ongoing West Asia disruptions. As one of the bloc’s largest producers, its departure weakens OPEC’s ability to regulate supply through quotas. While immediate impact may be limited due to existing supply constraints and high prices, the UAE gains flexibility to increase output over time. This could eventually boost global supply and ease prices, though reduced coordination may trigger volatility. For India, the development poses short-term inflation risks but offers potential long-term relief if increased production stabilises oil markets. (PC: India Today)

Indian airlines, represented by the Federation of Indian Airlines, have warned that surging Aviation Turbine Fuel (ATF) prices driven by the West Asia crisis are pushing the sector toward a potential shutdown. With fuel accounting for over half of operating costs, carriers such as Air India, IndiGo, and SpiceJet face severe financial strain, particularly on international routes where prices have sharply increased. The industry has urged government intervention, including tax relief, suspension of excise duty, and pricing reforms. Without immediate support, airlines warn that rising costs could render several routes unviable and disrupt overall operations. (PC: Zee News)

Google will inaugurate its $15 billion artificial intelligence data centre near Visakhapatnam by August 15, 2028, according to Nara Lokesh. The project, backed by N. Chandrababu Naidu and supported by Union minister Ashwini Vaishnaw, is expected to position Andhra Pradesh as a global AI and data infrastructure hub. The 1 GW facility will power advanced services like Gemini AI and catalyse a broader ecosystem, including server manufacturing and power electronics. Officials say the investment will attract Fortune 500 firms, boost jobs, and strengthen India’s digital economy, marking a major milestone in the country’s technology ambitions.

The Organization of the Petroleum Exporting Countries and OPEC+ face a major setback as the United Arab Emirates announced its exit effective May 1, citing long-term market strategy and policy flexibility. The move comes during a global energy crisis triggered by Middle East conflict and disruptions around the Strait of Hormuz. UAE’s departure weakens coordination within the bloc and challenges Saudi Arabia’s leadership. Officials indicated frustration over limited regional support amid tensions with Iran. Analysts warn the exit could destabilise oil prices, encourage further defections, and reshape global energy dynamics at a time when supply chains remain fragile and markets highly volatile worldwide. (PC: X)

The Indian rupee weakened by 24 paise to 94.39 against the US dollar in early trade, pressured by rising crude oil prices and increased month-end dollar demand. Forex traders noted that Brent crude hovering near $109 per barrel is adding strain on India’s external position, as higher oil import costs widen the trade deficit. A broader global shift toward safe-haven assets has further boosted the dollar, limiting the rupee’s recovery. Market experts describe the currency as being at a “crossroads,” lacking strong momentum in either direction. The near-term outlook remains cautious, with global commodity trends and capital flows expected to guide further movement. (PC: Reuters)

India and the United States began a new round of trade talks in Washington on Monday. The three-day meeting aims to complete the first phase of a proposed Bilateral Trade Agreement. A 12-member Indian team led by chief negotiator Darpan Jain is holding talks with US officials. The discussions come after changes in the US tariff system. Washington introduced a temporary 10% tariff on imports from all countries. Indian officials said the deal may be “recalibrated and redrafted” so India is not placed at a disadvantage. India is also expected to raise concerns over two US trade probes under Section 301. (PC: HT)

In the ongoing TCS Nashik harassment case, accused Nida Khan plans to seek anticipatory bail from a Nashik court, citing her pregnancy among the grounds. She is named in one of nine FIRs linked to alleged sexual harassment and coercion involving employees of Tata Consultancy Services. Meanwhile, a Special Investigation Team led by Assistant Commissioner Sandip Mitke questioned her husband in Mumbra. Police said Khan is absconding, with three teams deployed to trace her. Authorities tracked a lead to a relative’s residence, but found it locked, with phones switched off. Maharashtra Chief Minister Devendra Fadnavis termed the case serious, stressing efforts to uncover its root causes. (PC: X)

Tata Consultancy Services (TCS) said it received no complaints through its internal POSH or ethics channels from employees who later filed FIRs in the Nashik harassment case. The case involves nine FIRs and eight arrests over allegations of sexual harassment, coercion, and religious targeting between 2022 and 2026. TCS CEO K Krithivasan stated the company has launched internal probes and reiterated its zero-tolerance policy. The development raises concerns about gaps in workplace reporting mechanisms, as multiple victims approached police directly instead of internal systems, even as investigations by authorities continue. (PC: India Today)

India’s trade team will visit Washington from April 20 for fresh talks as the US prepares new tariff rules. The team will be led by chief negotiator Darpan Jain. Commerce Secretary Rajesh Agarwal said both sides will discuss ongoing investigations and next steps. “We are looking at finalising the legal agreement,” he said. The talks come after US Section 301 probes into several countries, including India. The US has raised concerns over India’s trade surplus and excess capacity in sectors like steel and solar. Commerce Minister Piyush Goyal had earlier said talks would resume after clarity on US tariffs. (PC: X)