Oil near 6-session highs, IEA flags deficit, India reviews UPI
Crude oil prices are holding near six-session highs as talks over the Strait of Hormuz drag on.
The International Energy Agency has flagged a deficit in the oil market, which has everyone a bit on edge.
Meanwhile, India is taking another look at how it funds UPI payments, so changes could be coming to the way digital transactions work.
India Finance Ministry considers UPI fees
India's Finance Ministry is considering bringing back merchant fees for big-ticket UPI transactions or shifting to a tiered incentive system that would slowly cut government subsidies. This comes as rising oil prices put pressure on the economy.
On the business side, Persistent Systems gave its CEO a massive pay hike in FY26 (financial year 2025-26), and AI giant Anthropic is reportedly eyeing a $6 billion takeover of Decart AI, a startup that helps AI developers maximize chip performance and is also working on generative video technology.