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UAE pledges over 5 billion for India after Modi visit with bold bank deal and energy expansion

UAE pledges over 5 billion for India after Modi visit with bold bank deal and energy expansion

UAE President Mohamed bin Zayed Al Nahyan personally received Prime Minister Narendra Modi at the airport as the Indian leader departed for the Netherlands, underscoring close diplomatic ties. India’s ambassador Deepak Mittal said Modi’s short UAE visit produced investment announcements of over $5 billion (more than Rs 47,000 crore). A standout element is a first-ever UAE push into India’s banking sector, led by Emirates NBD’s $3 billion. Additional commitments include $1 billion each from ADIA for infrastructure via NIIF and from IHC into Samman Capital, alongside deepening energy cooperation.

Summarised by Beize from a story on Republic on 16 May 2026
India and UAE sign defense energy and infrastructure deals as Modi seeks deeper regional strategic footing

India and UAE sign defense energy and infrastructure deals as Modi seeks deeper regional strategic footing

Prime Minister Narendra Modi visited the UAE and signed a package of agreements aimed at strengthening defense, energy, and infrastructure cooperation. Modi met President Sheikh Mohammed bin Zayed Al Nahyan, reaffirming India’s condemnation of recent attacks and backing safe transit through the Strait of Hormuz. Deals include raising UAE participation in India’s strategic petroleum reserves to 30 million barrels, setting up strategic gas reserves, securing long-term LPG supplies, and launching a framework for deeper strategic defense ties.

Summarised by Beize from a story on The Economic Times on 15 May 2026

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Iran war lifts Russian Urals oil taxes and cash flow as Urals price hits a 2023 high

Iran war lifts Russian Urals oil taxes and cash flow as Urals price hits a 2023 high

Russia’s flagship Urals crude export blend has surged to its highest tax-purposes level since October 2023, reaching $94.87 a barrel for May calculations. The jump is attributed to Iran war disruptions that have constrained Persian Gulf supplies and boosted demand for Russian barrels after flows through the Strait of Hormuz were affected. With oil and gas providing around a fifth of budget revenue, higher prices are helping the Kremlin refill its rainy-day fund and delay non-priority spending cuts, even as a stronger ruble trims takeaways.

Summarised by Beize from a story on The Economic Times on 14 May 2026
Energy minister Hardeep Puri denies Russian LNG and lockdown fears, citing large reserves and stable prices

Energy minister Hardeep Puri denies Russian LNG and lockdown fears, citing large reserves and stable prices

Petroleum and Natural Gas Minister Hardeep Singh Puri has dismissed reports about India rejecting Russian LNG and warned against “lockdown” rumours. Speaking at the CII Annual Business Summit, he said India has not raised fuel prices for four years and currently holds 60 days of crude oil, 60 days of LNG and 45 days of LPG. Responding to Reuters-linked claims, Puri said the country never imported Russian LNG or LPG from Russia, and that opposition-led panic is misleading.

Summarised by Beize from a story on Republic on 14 May 2026
Andhra cabinet pushes austerity drive to cushion war hit with lifestyle cuts and gold deferment

Andhra cabinet pushes austerity drive to cushion war hit with lifestyle cuts and gold deferment

The Andhra Pradesh cabinet has recommended a package of austerity steps meant to reduce the economic fallout of a war. Proposed measures include a No Vehicle Day, shifting classes online, cutting special flights, and deferring gold purchases. Chief Minister N Chandrababu Naidu asked citizens to adopt a “My Country, My Responsibility” approach to ease strain on energy demand and foreign exchange reserves.

Summarised by Beize from a story on The Economic Times on 14 May 2026
Modi heads to UAE to lock longer energy deals and bolster strategic reserves amid supply shocks

Modi heads to UAE to lock longer energy deals and bolster strategic reserves amid supply shocks

Prime Minister Narendra Modi is set to visit the UAE to discuss long-term energy supply arrangements and ways to expand India’s strategic oil reserves. Sources say the trip seeks to reduce exposure to disruptions tied to global conflicts. Modi will meet UAE President Sheikh Mohamed bin Zayed Al Nahyan to explore deeper energy cooperation and broader bilateral issues during a wider five-nation tour.

Summarised by Beize from a story on The Economic Times on 14 May 2026

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India pushes faster battery storage and grid upgrades to unlock more renewable power

India pushes faster battery storage and grid upgrades to unlock more renewable power

India held an inter ministerial meeting focused on speeding up battery storage rollout and grid upgrades. Officials discussed boosting transmission capacity and exploring variable time of day pricing, with the goal of expanding renewable energy adoption while improving grid stability. The talks aim to translate policy levers into faster deployment of technologies that balance fluctuating power supply.

Summarised by Beize from a story on The Economic Times on 13 May 2026
Fervo Energy IPO pops 33% as AI data center demand boosts enhanced geothermal bets

Fervo Energy IPO pops 33% as AI data center demand boosts enhanced geothermal bets

Enhanced geothermal startup Fervo Energy surged 33% in its IPO debut, with the deal reportedly upsized multiple times after potential investors questioned why it wasn’t already raising more capital. The company’s pitch resonated as growing AI data center demand increases pressure for reliable, large-scale power—turning geothermal into a fresh growth story.

Summarised by Beize from a story on TechCrunch on 13 May 2026
Fervo Energy rockets to Nasdaq debut with 33 percent surge and 10 billion valuation

Fervo Energy rockets to Nasdaq debut with 33 percent surge and 10 billion valuation

Geothermal startup Fervo Energy stunned investors in its Nasdaq debut, jumping 33.3% on the first day and valuing the company at about $10.21 billion. The move follows an IPO that raised $1.89 billion. The timing is notable as U.S. power demand rises with AI and data center buildouts, intensifying the push for new energy supply.

Summarised by Beize from a story on The Economic Times on 13 May 2026
Cabinet clears Rs 37500 crore coal gasification plan to slash import dependence and attract huge investment

Cabinet clears Rs 37500 crore coal gasification plan to slash import dependence and attract huge investment

The Union Cabinet has approved a Rs 37,500 crore scheme to expand surface coal and lignite gasification projects. The plan targets gasifying about 75 million tonnes of coal and is expected to pull in investments of up to Rs 3 lakh crore, with Union Minister Ashwini Vaishnaw highlighting reduced import dependence as a key goal.

Summarised by Beize from a story on Republic on 13 May 2026

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Lavrov assures India Russia will complete energy supply agreements despite mounting competition

Lavrov assures India Russia will complete energy supply agreements despite mounting competition

Russian Foreign Minister Sergey Lavrov told India that all energy supply agreements will be completed, citing deep-rooted friendship between the two countries. He also praised Prime Minister Narendra Modi for his leadership and emphasized that “unfair competition” will not disrupt Russia’s energy deals with India, signaling continuity amid external pressures.

Summarised by Beize from a story on The Economic Times on 13 May 2026
CCI clears Adani Power GVK buy and three other deals shaking India energy and tech

CCI clears Adani Power GVK buy and three other deals shaking India energy and tech

The Competition Commission of India approved four transactions, including Adani Power’s acquisition of GVK Energy and Canada Pension Plan Investment Board’s stake in Ctrl S Datacenters. CCI also cleared Thriveni Earthmovers’ purchase of a stake in Lloyds Engineering Works and approved a merger involving three entities into one company.

Summarised by Beize from a story on The Economic Times on 12 May 2026
Oil market shifts to tight supply after years of underinvestment and refining delays

Oil market shifts to tight supply after years of underinvestment and refining delays

Global energy markets are moving into a structurally tighter phase as crude oil and refining have been underinvested for years. Even as renewables expand, grid constraints remain and downstream product shortages are beginning to show. Analysts warn this could translate into a multi-year squeeze across crude supply chains, refining capacity, and energy products worldwide.

Summarised by Beize from a story on The Economic Times on 12 May 2026
Modi returns to Norway after 43 years as long term LPG deal takes center stage

Modi returns to Norway after 43 years as long term LPG deal takes center stage

Prime Minister Narendra Modi is set to visit Norway next week for the first time in 43 years by an Indian prime minister to Oslo. The agenda is expected to spotlight a long term LPG energy partnership alongside maritime cooperation, climate action, and broader sustainable development ties between the two countries.

Summarised by Beize from a story on The Economic Times on 12 May 2026

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WhiteHawk files for US IPO after a 615% revenue surge and promises steady dividends

WhiteHawk files for US IPO after a 615% revenue surge and promises steady dividends

Natural gas royalty firm WhiteHawk has filed for a US IPO after reporting a staggering 615% revenue spike in 2025. Backed by large natural gas holdings across millions of acres, the company says it aims to deliver consistent dividends to investors. The filing comes as energy markets heat up, with oil prices rising and demand for royalty income strengthening.

Summarised by Beize from a story on The Economic Times on 11 May 2026
India rejects Russian LNG shipments as US sanctions tighten leaving tanker in limbo

India rejects Russian LNG shipments as US sanctions tighten leaving tanker in limbo

India has refused Russian liquefied natural gas shipments to avoid exposure to US sanctions, according to sources. With energy supply uncertainty rising alongside Middle East tensions, a Russian LNG tanker reportedly remains stuck without approval for permitted cargoes. India and Russia continue discussions on what shipments could legally proceed, while Russia pushes to find alternative buyers for its LNG exports.

Summarised by Beize from a story on The Economic Times on 11 May 2026
Shaktikanta Das says India can handle energy demand shocks but warns against one source dependency

Shaktikanta Das says India can handle energy demand shocks but warns against one source dependency

RBI governor Shaktikanta Das says India is better placed to absorb extreme energy demand shocks, but businesses must not bet on a single supply source. He points to the need for strategic reorientation as global supply chains remain disrupted. Infrastructure expansion and the push for renewables are seen as strengthening readiness, while diversifying markets and investing in R&D are key next steps.

Summarised by Beize from a story on The Economic Times on 11 May 2026
India to shrink nuclear reactor exclusion zones to unlock land for new capacity expansion

India to shrink nuclear reactor exclusion zones to unlock land for new capacity expansion

India is considering shrinking exclusion zones around nuclear reactors to free up land for plant expansions and encourage private investment. Regulators have reportedly given the proposal in-principle approval, with the potential to reduce land requirements and enable more nuclear capacity. Still, the move may face public and political backlash over safety concerns.

Summarised by Beize from a story on The Economic Times on 11 May 2026

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Aramco CEO Amin Nasser says lost oil barrels will delay global recovery for months

Aramco CEO Amin Nasser says lost oil barrels will delay global recovery for months

Saudi Aramco CEO Amin Nasser warned that the global oil market will not quickly bounce back after a major supply shock. He said roughly one billion barrels have been lost over the past two months. Even if crude flows restart, Nasser expects the market to stay unsettled before fully normalizing, extending pain for prices and consumers.

Summarised by Beize from a story on The Economic Times on 10 May 2026
China confirms attack on oil tanker in Strait of Hormuz with Chinese crew onboard

China confirms attack on oil tanker in Strait of Hormuz with Chinese crew onboard

China’s foreign ministry confirmed that an oil products tanker carrying Chinese nationals was attacked in the Strait of Hormuz earlier this week. The ministry said it is deeply concerned about vessels affected by the continuing Middle East conflict. Details on damage or casualties weren’t fully disclosed, but the incident highlights how regional tensions are spilling into global shipping routes.

Summarised by Beize from a story on Republic on 8 May 2026
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