Global Trade Tensions:
The U.S. has imposed broad tariffs on imports, prompting retaliatory measures from China and the EU. This has led to volatile markets, with significant declines in the S&P 500. A 90-day pause on steep "Liberation Day" tariffs aims to allow negotiations, but U.S.-China trade disputes continue to intensify, impacting Chinese workers and global markets.
India Developments: In West Bengal’s Murshidabad district, protests against the Waqf Amendment Act on April 11 turned violent, but security forces have stabilized the situation. In Jammu, registration for the Amarnath Yatra 2025 has begun. Meanwhile, Congress workers, including Devender Yadav, were detained in Delhi during protests over an ED probe involving businessman Robert Vadra.
Energy Sector Adjustments: In India, Mahanagar Gas faces an 18% reduction in natural gas allocation starting April 16, while Indraprastha Gas Ltd. sees a 20% cut, impacting profitability. Adani Total Gas also faces a 15% reduction in gas allocation, affecting the domestic PNG and CNG sectors.
Israeli Cultural Event: The Hungarian Embassy in Israel hosts an online screening of the documentary To Speak the Unspeakable: The Message of Elie Wiesel on April 16, with viewing access extending to April 17 for registered users.
Cryptocurrency Security Breach: ZKsync, a layer-2 blockchain platform, experienced a security breach on April 15, with an admin account compromise leading to the unauthorized minting of 111 million $ZK tokens (worth ~$5 million). The incident caused a 20% token price drop, though user funds and the core protocol remain secure.
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