- India and Germany are discussing a deal for six submarines worth €5bn, which would be manufactured in India.
- Thyssenkrupp Marine Systems and Mazagon Dock Shipbuilders signed a memorandum of understanding to co-produce the vessels.
- India is seeking to reduce its dependence on Russian military equipment.
- The deal is expected to boost Germany's defence industry.
- Russia is India's largest arms supplier, but India is trying to diversify its imports.
Central banks around the world are pausing tightening campaigns as inflation eases and economies slow. Inflation-targeting regimes are keeping their own houses in order, while the US Fed's key inflation gauges fell to the slowest annual paces since late 2021.
Two massive earthquakes on Monday have devastated cities and towns across Turkey and Syria, with death toll of over 16,000. This is one of the worst natural disasters this century, alongside the 2004 Sumatran Tsunami, 2010 Haiti earthquake and 2008 Cyclone Nargis.
A raft of U.S. data and European inflation numbers will give guidance on how the world's top central banks will navigate the way ahead, including the hotly debated "no landing" scenario. Reports on U.S. durable goods orders, home prices, manufacturing and consumer confidence threaten to cement expec