Oil Prices Rise as Ukraine Targets Russian Energy Infrastructure 
China Urged to Prioritize Economy Over Territorial Ambitions, Says Taiwan’s President Lai 
Spain’s Industrial Output Records Steady Growth in October Amid Revised September Figures 
European Oil & Gas Stocks Face 2026 With Cautious Outlook Amid Valuation Pressure 
BOJ Governor Ueda Highlights Uncertainty Over Future Interest Rate Hikes 
U.S. Futures Steady as Rate-Cut Bets Rise on Soft Labor Data 
Austria’s AA Credit Rating Affirmed as Fitch Highlights Stable Outlook 
Asian Markets Mixed as RBI Cuts Rates and BOJ Signals Possible Hike 
Gold Prices Edge Higher as Markets Await Key U.S. PCE Inflation Data 
Fed Meeting Sparks Division as Markets Brace for Possible Rate Cut 
Citi Sets Bullish 2026 Target for STOXX 600 as Fiscal Support and Monetary Easing Boost Outlook 
RBI Cuts Repo Rate to 5.25% as Inflation Cools and Growth Outlook Strengthens 
Germany’s Economic Recovery Slows as Trade Tensions and Rising Costs Weigh on Growth 
Japan’s Nikkei Drops as Markets Await Key U.S. Inflation Data 
Asia’s IPO Market Set for Strong Growth as China and India Drive Investor Diversification 
Oil Prices Hold Steady as Ukraine Tensions and Fed Cut Expectations Support Market 
India’s services sector sustained strong momentum in May, driven by robust export demand and unprecedented hiring, according to the HSBC India Services Purchasing Managers’ Index (PMI) released by S&P Global. The index rose slightly to 58.8 in May from 58.7 in April, remaining well above the 50-point threshold that signals expansion for the 47th consecutive month.
New business continued to surge, supported by marketing efforts, repeat clients, and improving demand trends. Export orders grew at one of the fastest rates in the survey’s 19-year history, highlighting increased global interest in Indian services.
To meet this rising demand, companies ramped up hiring, with nearly 16% of respondents increasing staff—the highest hiring rate recorded since the survey began in 2005. However, this hiring surge, alongside increased costs for cooking oil, meat, materials, and overtime pay, pushed input and output prices higher, marking the steepest cost inflation since January.
These growing price pressures may complicate the Reserve Bank of India’s monetary policy outlook. The RBI, having already cut rates by 50 basis points this year, is expected to reduce the repo rate by another 25 basis points to 5.75% on Friday, according to a Reuters poll, despite inflation staying below the 4.0% target.
Business confidence rebounded from a 23-month low in April, buoyed by larger client bases, expanded teams, and ongoing promotional strategies. Meanwhile, the HSBC India Composite PMI—which covers both manufacturing and services—slipped slightly to 59.3 in May from 59.7 in April, still indicating strong private sector growth.
Overall, India’s services sector remains a key pillar of economic strength, balancing growth opportunities with rising inflationary risks.
