Dubai / Emirates Busines The Dubai Gold & Commodities Exchange (DGCX) saw a spike in Indian Rupee (INR) trading in May as the India election came to a close, leading the exchange to record a monthly average open interest (AOI) of 406,203 contracts in the month, its highest AOI since November 2016. Ongoing political tensions across Europe on the back …

Bloomberg US President Donald Trump terminated India’s designation as a developing nation under a trade program, eliminating an exception that allowed the country to export nearly 2,000 products to the US duty-free. “I have determined that India has not assured the United States that India will provide equitable and reasonable access to its markets,” Trump said in a proclamation. “Accordingly, …

Bloomberg China is mobilising its vast state-run energy industry to prepare for an economic tussle with the US that could escalate further and might last for years. Top oil executives were busy this week touting the need for energy security, and even discussing the previously far-fetched notion that the nation could be cut off from overseas supplies. The public comments …