The Bank of Japan raises its benchmark interest rate to 1.25% from 1.0%, taking borrowing costs to their highest level in 31 years. The move follows a two-day policy meeting and signals that officials are focused on preventing inflation from accelerating too quickly as Japan continues its shift away from ultra-loose monetary policy.

India is heading toward its driest monsoon in 17 years, with rainfall about 15% below normal as El Niño strengthens. The shortfall threatens farm output and increases the risk of higher food prices, adding a potential inflationary pressure point for an economy that otherwise shows strong domestic demand and rapid recent growth.

Moody’s raises its forecast for India’s fiscal 2026-27 GDP growth to 7% from 6%, citing resilient domestic demand and stronger economic momentum. The agency says real GDP growth accelerates to 8.2% year on year in the first half of calendar 2026, underscoring India’s position as one of the faster-growing major economies.

The Kremlin seizes control of Nestlé’s Russia business by presidential decree, forcing the company to consider its response. Nestlé says it is reviewing all options to protect its rights, highlighting the persistent legal and geopolitical risks facing multinational companies that continue to have assets or operations in Russia.

Asian stocks rise in early trading as oil prices ease and the yen stabilizes ahead of the Bank of Japan’s policy decision. The dollar remains relatively steady while investors weigh how central bank efforts to contain inflation, along with currency moves and energy prices, may shape risk appetite across the region.

First-time buyers now account for more than half of mortgage sales in the UK, but they are entering the market with smaller deposits and higher loan-to-value borrowing. The figures point to continued demand for home ownership alongside growing affordability pressure, as buyers stretch further to meet property prices.

Manipal Hospitals uses proceeds from its IPO to repay ₹5,310 crore of subsidiary debt. The move strengthens the hospital group’s balance sheet after its market debut and illustrates how newly raised equity capital is being used to reduce leverage and improve financial flexibility.

Dr. Reddy’s Laboratories signs an agreement with Takeda Pharma to distribute the dengue vaccine Qdenga in India from 2027. The deal puts commercial distribution in place ahead of the vaccine’s initial availability in the market and expands positioning in a country where dengue remains a significant public health concern.