Based in Kuala Lumpur, Nur Aisyah Rahman covers Malaysia, Southeast Asia, the palm oil economy, and Islamic finance — beats that sit at the centre of India's trade relationships with the Muslim world. Her reporting is long-range and pattern-seeking.
Recent work
India Pulls USD 40.8 Billion in Eight Weeks Through RBI's Swap Facility
The Reserve Bank of India's concessional swap facility, launched in June 2026, pulled in USD 40.816 billion in foreign exchange inflows by July 31 — with FCNR(B) deposits alone accounting for USD 36.725 billion. The scale surpasses the celebrated 2013 stabilisation exercise and signals deep NRI confidence in Indian instruments. The facility runs through December 2026, leaving room for further inflows.
ECB Signals Rate Hikes as Hormuz Disruption Reshapes Global Monetary Calculus
The European Central Bank's June 2026 Governing Council meeting laid bare a global economy pulled in opposite directions — Middle East conflict driving energy inflation upward while an AI investment boom kept risk appetite surprisingly buoyant. Markets priced in roughly three rate hikes even as ECB analysts expected fewer. For India, whose merchandise and services exports to Europe form a substantial portion of its external account, the direction Frankfurt chooses matters as much as any domestic policy signal from New Delhi.
India's Battery Star-Rating Plan Turns Energy Vulnerability Into Standards Power
India is designing a star-rating system for batteries used in solar PV installations and large-scale energy storage, modelled on the Bureau of Energy Efficiency's appliance labelling programme. The framework, expected to be finalised by September, follows oil price shocks from the West Asia conflict and India's heavy dependence on crude imports. Beyond its domestic purpose, the policy carries the logic of a country converting energy insecurity into norm-setting authority.
Ambani and Mittal at the Global AI Table: India's Private Sector Shapes the Norms
Mukesh Ambani and Sunil Bharti Mittal have joined the AI for Good Global Commission as founding members alongside Jensen Huang, Brad Smith, and Andy Jassy. The commission, launched by Rwanda's President Paul Kagame with Salesforce and the ITU, aims to bridge the gap between governments, industry, and multilateral institutions on responsible AI. For India, the development is less a diplomatic milestone than a strategic opening — one that requires coordination between private ambition and public policy to convert into durable influence.
Nayara's ₹5 Price Cut Signals Gulf De-escalation Dividend for Indian Consumers
Nayara Energy has cut petrol prices by ₹5 per litre and diesel by ₹3 per litre across its 7,000 stations, becoming the first Indian oil marketer to roll back fuel costs after global crude eased following the Iran-US MoU and Strait of Hormuz reopening. State-run OMCs — IOC, BPCL, and HPCL — have yet to follow. The move illuminates how India's deliberate refusal to join Western sanctions on Gulf crude translates into a tangible consumer dividend when geopolitical risk recedes.
Crazy Rich Indians Are Rewriting the Global Luxury Travel Playbook
India's ultra-high-net-worth travellers are booking out entire resorts, chartering seaplanes, and dictating bespoke experiences at properties from the Maldives to Southern Europe. The trend reflects a structural shift in global luxury hospitality — and carries strategic weight for India's regional economic relationships. The government's blunt TCS framework, however, risks pushing this spending underground rather than harnessing its soft-power dividend.
India's Telecom Giants Warn Service Disruption as Diesel Curbs Test Infrastructure Resilience
India's telecom infrastructure faces potential disruption as tower companies warn that new diesel procurement restrictions could affect mobile services during power outages. The Digital Infrastructure Providers Association has sought urgent government exemptions, highlighting the tension between environmental regulations and digital connectivity needs.
Indian Content Creator Pivots from Adult Streaming to AI-Generated Mythology Films
The founder of banned adult streaming platform Ullu has completely pivoted to AI-enabled mythological content through his new platform Hari Om, producing 11 original shows on religious figures and preparing India's first AI-generated Vedic history film for theatrical release.
Copyright Chaos Threatens Bollywood's Cultural Export Engine
Bollywood's reliance on nostalgic remixes faces mounting legal challenges as fragmented copyright ownership creates bitter disputes. Recent cases involving 'Chunnari Chunnari' and 'Tirchhi Topiwale' expose systemic problems in India's creative economy that could constrain the industry's global reach.
India's Furniture Makers Build Domestic Supply Chains as Global Trade Volatility Reshapes Manufacturing
Indian furniture companies are accelerating domestic sourcing and building inventory buffers as shipping delays and volatile input costs expose the sector's dependence on imported premium materials from Southeast Asia and Europe. The shift represents a broader manufacturing resilience strategy across consumer goods industries.
Airtel's Profit Plunge Exposes India's Telecom Investment Dilemma
Bharti Airtel's 33.5% profit decline despite revenue growth highlights the pricing pressure plaguing India's telecom sector, raising questions about operators' capacity to fund critical 5G infrastructure while maintaining affordable connectivity.
Iran War Threatens India's Fragile Credit Recovery Momentum
India's 14% credit growth driven by MSME and retail lending faces serious headwinds from escalating West Asia conflict. Energy security concerns and supply chain disruptions threaten to force monetary tightening just as financial sector recovery gains momentum.
ECB's Stablecoin Warning Signals Shift in Global Digital Currency Race
ECB President Christine Lagarde argues that stablecoins conflate distinct monetary and technological functions, warning against digital dollarisation while questioning whether jurisdictions can afford to ignore them. Her framework has direct implications for India's central bank digital currency development.
RBI Absorbs ₹3.15 Lakh Crore as Money Markets Go Silent on Sunday
RBI absorbed ₹3.15 lakh crore through Standing Deposit Facility on April 26, 2026, as money markets recorded zero trading volumes during the weekend session. The operations reflect the central bank's ongoing liquidity management amid persistent excess funds in the banking system.