Market

• India's Goods and Services Tax (GST) collections increased 8.7% to ₹2.42 lakh crore, demonstrating continued economic strength despite recent market corrections and global uncertainties. • The strong GST collection figures reflect robust consumer spending and improved tax compliance across India's formal economy, providing crucial revenue for government budgets. • This economic indicator comes amid broader market volatility, with Wall Street posting its best month since 2020, suggesting potential stabilization in global financial conditions affecting Indian markets.

• Asia-Pacific's cross-border payments market, valued at $13.5 trillion in 2025, is forecast to surge to $24 trillion by 2033, fueled by QR payments and digital adoption.• Thailand ranks second in regional economic optimism, supporting robust growth in transaction volumes across Southeast Asia.• Expansion driven by e-commerce boom and fintech innovations enhances trade efficiency in Singapore, Malaysia, Indonesia, and Vietnam.• Regulators eye next steps in harmonizing standards to sustain projected CAGR amid rising geopolitical tensions.

• Startup TextWeave secured $10 million in seed funding last month to leverage LLMs for generating marketing copy for small shops. • The platform addresses niche needs in content creation, demonstrating how specialized AI fixes fuel startup growth. • This funding aligns with enterprise adoption trends, where generative AI tops technology startup news for tasks like automated writing.

• Insurance giant Cigna announced it will exit the Affordable Care Act individual market in 2027, impacting 369,000 members amid reports of millions dropping Obamacare coverage due to higher long-term costs. • State officials and industry analysts note surging premiums are driving enrollment declines, exacerbating access issues for remaining policyholders. • Cigna reported a $1.65 billion profit while making the exit, highlighting tensions between profitability and marketplace sustainability.

Advertised prices for new rental listings rising at fastest pace since October 2024. Follow updates Get our breaking news email, free app or daily news podcastAustralia’s housing market is at its slowest for almost 18 months as buyers stick to cheaper properties and abandon interest in the top end of the market.Figures today from the data firm Cotality show Melbourne and Sydney house prices fell 0.6% in April. Melbourne’s home values have now fallen 1.9% since November, with Sydney’s down 1%. Continue reading...

• The S&P 500 index closed at 6,450.06, down 16.52 points or 0.26%, reflecting cautious trading in US equities over the past day. • Broader market showed divergence with Dow Jones ETF down 0.16% at 492.21, while S&P ETF rose 0.77% to 713.94 and Nasdaq QQQ gained 1.88% to 663.88. • Gold prices fell to 4,725.40 per ounce, down 15.50, amid shifting investor risk appetite ahead of economic data releases.

Industry analysts say fuel price surge could lead to canceled flight routes that could snarl travelers’ plansCalifornia’s jet fuel supply has dropped to a level not seen since 2023, as turmoil in the Middle East continues to squeeze the global oil market.As of 17 April, the state’s jet fuel stock was just over 2.6m barrels, in comparison to 3.2m barrels two years prior, according to the California energy commission (CEC), which publishes a refinery stocks data dashboard. Continue reading...