Daily brief
Two Indian-flagged LPG tankers have navigated the Strait of Hormuz, reportedly using a path through Iran's territorial waters. Prime Minister Narendra Modi told parliament that shipping disruptions in the area have become 'very challenging' but assured minimal impact on India's domestic supplies. The transit is seen as a move to ease a domestic LPG supply situation.
The crash of Credit Suisse's AT1 bonds has triggered a leadership crisis at the Indian financial institution HDFC.
Indian shares fell sharply and the rupee hit a record low as Middle East tensions gripped financial markets.
Iran threatened to close the Strait of Hormuz after a warning from President Donald Trump.
Germany is turning to India for help to address a shortage of workers.