India’s silver imports are back after six months of disruption.
- Traders imported about 89.81 tonnes of silver through the India International Gold and Silver Exchange in August, after six consecutive months without imports.
- Around 400 tonnes of import licences have reportedly been approved under the new licensing regime, with supply already “definitely improved” from July, according to Metals Focus.
- The higher supply has narrowed India’s domestic premium over international prices, although the 30 day average premium was still around $4 per ounce as of last Friday.
Iran Says U.S. Forces Expelled From Persian Gulf Region
- Iran Army Commander Amir Hatami said U.S. forces have been expelled and are no longer permitted to enter the Persian Gulf, Gulf of Oman or Strait of Hormuz.
- Hatami said U.S. military bases in the region can never return to their previous status, adding that Iran will not allow it.
- Iran’s parliament also passed an anti-infiltration bill targeting alleged infiltration by hostile intelligence agencies, foreign governments and organizations, addressing what lawmakers called a legal gap in existing espionage laws.
- IRIB also reported that Hatami announced a $30,000 bounty for capturing or killing U.S. service members, with the payment reportedly intended for an Iranian soldier carrying out the act.
Alphabet’s SpaceX Stake Soars To $94.2 Billion
- Alphabet held 551.2 million SpaceX shares worth about $94.2 billion as of June 30, stemming from a $900 million investment in 2015.
- SpaceX’s $86 billion IPO in June made the stake visible in 13F filings. Alphabet is now the largest institutional holder, with Gigafund Management, Baillie Gifford and BlackRock also among major holders.
- Harvard Management Company disclosed a $2.2 billion SpaceX stake, making it the largest single-stock holding in its $4.3 billion U.S. equity portfolio. The University of California disclosed about $1 billion, while UNC and Washington University also hold stakes.
- SpaceX shares have pulled back from their June 30 peak but remain above the $135 IPO price. Retail investors became net sellers for the first time last Friday.
Nvidia Discloses $21 Billion SpaceX Stake Alongside $30 Billion Intel Holding
- Nvidia disclosed 122.8 million SpaceX Class A shares worth about $21 billion at the end of Q2, alongside a roughly $30 billion stake in Intel.
- The SpaceX holding originated from Nvidia’s $10 billion investment in xAI in January, before SpaceX acquired xAI in a $1.25 trillion deal in February.
- Elon Musk said SpaceX will exclusively use Nvidia chips in its AI data centres and expects a “significant allocation” of next-generation Vera Rubin GPUs.
Iran, Oman Agree On Strait Of Hormuz Transit Plan
- Iranian Foreign Ministry spokesperson Baghaei said talks with Oman continued despite U.S. obstruction, with both sides reaching an agreement on a transit plan for the Strait of Hormuz shipping lane.
- Iran and Oman appear to have agreed on specific shipping routes through the Strait. Baghaei said a finalized “shipping map” will form part of a broader arrangement and a separate bilateral pact to protect sovereignty and ensure safe passage.
- Transit fees and security measures have not been disclosed, and further negotiations are planned.
- The agreement follows recent attacks in the Strait. The U.S. was not involved in the arrangement and is unlikely to accept any deal that does not restore free navigation.
India attracted $56.846 billion through the RBI’s special USD INR Forex Swap facility by August 13, 2026.
- FCNR(B) deposits accounted for $52.3 billion, while OFCBs brought $2.805 billion and ECBs $1.741 billion.
- India’s forex reserves stood at $707.002 billion on August 7, rising $14.136 billion in one week.
- The June current account deficit widened to $6.2 billion from a $1.2 billion surplus a year earlier, while the merchandise trade deficit reached $30.2 billion.
- M3 rose 14.7% YoY to ₹322.813 lakh crore, bank credit grew 19.3% to ₹220.781 lakh crore and deposits increased 15.4% to ₹269.414 lakh crore. The FCNR(B) facility is open for deposits mobilized until August 31, with RBI swaps available until September 11. ECB and OFCB facilities remain open until December 31, 2026.
India attracted $56.846B via RBI forex swaps, with FCNR(B) at $52.3B. Reserves hit $707.002B, up $14.136B, while CAD widened to $6.2B.
https://bigbreakingwire.in/rbi-forex-inflows-56846-million-august-2026/
bigbreakingwire.in
Iran Rejects Ceasefire Extension As IRGC Claims U.S. “Submitted”
- • Iranian Foreign Minister Araghchi said Tehran does not intend to extend the ceasefire with the U.S. and has not decided whether to resume talks.
- • Araghchi said Washington violated the Iran-U.S. memorandum of understanding and hostilities have resumed, leaving no basis for extending the ceasefire.
- • Qatar and Pakistan continue exchanging information and maintaining contact with Tehran as mediators, but Araghchi stressed this does not mean Washington and Tehran are negotiating.
- • IRGC commander Major General Ahmad Vahidi said Iran’s offensive and defensive operations during six months of fighting forced what he called “the most heavily armed army in history” to submit.
- • Vahidi described the conflict as six months of “unprecedented holy war” and praised Iran’s armed forces for their actions against what he called its “most bloodthirsty enemy.”
AI chip demand is turning the memory market into a supply race.
- SK Group Chairman Chey Tae won said customer demand for chips has doubled this year and called the race to secure AI memory “like a war.”
- He said no memory maker can scale fast enough for 2027 demand, which he expects to be the worst shortage year ahead.
- SK Hynix is pursuing a $720 billion capacity expansion through 2034 and is evaluating US sites beyond its $3.9 billion Indiana plant.
- Memory prices have already risen 40% to 50%, forcing Apple to raise flagship prices. Chey called this “chip inflation” and said there is no short term fix.
Iran Says Hormuz Shipping Depends On U.S. Meeting Its Conditions
- • Iran’s Foreign Minister said Qatar and Pakistan are exchanging information with Tehran, but stressed they are not engaged in formal negotiations with Iran.
- • Tehran has not yet decided whether to resume talks with the U.S., keeping prospects for a broader diplomatic breakthrough uncertain.
- • Iran said the U.S. must meet its conditions before Tehran restores shipping through the Strait of Hormuz.
- • Separate talks with Oman are focused on establishing specific shipping lanes for vessel passage, which Iran stressed is different from fully “opening” the Strait.
- • The latest comments keep the Strait of Hormuz as the key point of contention, with implications for WTI, Brent and gold.
🇮🇳 India is set to get more local currency financing from the BRICS backed New Development Bank.
- NDB President Dilma Rousseff said the bank plans $5 billion in sovereign lending to India along with a ₹250 billion rupee bond programme over five years.
- The rupee bonds will help deepen India’s capital markets and give borrowers an alternative to dollar financing, reducing exchange rate risk.
- NDB also signed an MoU with Narayana Health to advance smart hospitals and digital health systems across emerging economies.
🔴 Breaking
Trump Threatens To Declare Strait Of Hormuz U.S. Territory After Iran Defeat
- • President Donald Trump said he would “soon declare the Strait of Hormuz U.S. territory” after defeating Iran, while urging Americans to accept higher gasoline prices to prevent Iran from obtaining nuclear weapons.
- • Iran’s Deputy Foreign Minister Garibabadi rejected the threat, saying the Strait cannot be controlled by a “tweet, aircraft carrier, executive order or campaign speech” and that Iran will not be deterred by force.
- • IRGC Navy commander Ali Azmai said the Strait “remains closed and is fully controlled by the Iranian military,” arguing that its status should be judged on the ground rather than by U.S. statements.
- • ADNOC said one of its vessels was attacked while transiting the Strait on the evening of August 14. There were no casualties. The UAE had reported attacks on two ADNOC tankers on August 13.
- • The escalating confrontation around the Strait adds further risk to global oil flows and gasoline prices, with Iran continuing to claim control over the strategic waterway.
JPMorgan, Morgan Stanley Boost Crypto ETF Bets Despite Bitcoin Slump
- • JPMorgan more than doubled its IBIT stake to $355.7 million and increased its Ethereum ETF holdings by 338%, according to its Q2 13F filing.
- • Morgan Stanley raised its IBIT position 23% to 16.5 million shares and added new exposure to Solana funds.
- • The bigger crypto ETF positions came despite Bitcoin falling sharply in H1 2026, with spot Bitcoin ETFs also recording net outflows this week.
- • The filings highlight continued institutional demand for crypto ETFs even amid weaker Bitcoin prices and recent ETF outflows.
SK Hynix is sharply increasing spending to keep up with the AI boom.
- The company spent 18.3288 trillion won on tangible assets in 1H, up 72.7% YoY from 10.6157 trillion won, as it expands capacity for AI focused HBM, server DRAM and enterprise SSDs.
- R&D spending also jumped 98.4% YoY to 6.0428 trillion won, with 5.8163 trillion won allocated to ongoing development costs.
- AI demand is driving a major increase in both capacity and technology investment.
MSCI Proposes Excluding Non-Operating Firms; Strategy, Metaplanet At Risk
- • MSCI has opened a consultation to exclude “non-operating companies” from its Global Investable Market Indexes, replacing its earlier crypto-specific approach.
- • A May 2026 simulation flagged Strategy, Metaplanet and Yellow Cake for deletion under the proposed two-stage screen, based on operating assets and five financial ratios, rather than crypto holdings alone.
- • The consultation closes September 30, with results expected by October 16. If adopted, changes could be implemented in the November 2026 Index Review.
- • The proposed rule could trigger passive-fund selling in affected stocks, potentially creating significant market-flow pressure, although MSCI has not finalized the changes.
U.S. Shale Producers Cut Capex As High Oil Prices Boost Shareholder Returns
- • Chevron and ConocoPhillips cut U.S. Lower 48 capex by about 10% in H1, while Occidental reduced Permian spending by roughly 20%.
- • APA, Matador Resources and HighPeak Energy also expect drilling and fracking spending materially below year-ago levels.
- • Producers are directing more windfall cash toward shareholder returns and debt repayment instead of aggressively expanding production. ConocoPhillips has targeted returning 45% of operating cash flow to shareholders.
- • Lower spending does not necessarily mean lower output: improved drilling and completion productivity is allowing producers to generate more oil per dollar invested.
- • The shift is nevertheless slowing U.S. crude-supply growth, while President Trump is facing political pressure over producers and refiners not cutting retail gasoline prices faster.
🇹🇼 Taiwan just raised its 2026 GDP growth forecast to 11.05%, the fastest growth since 1987.
- The forecast has now been raised four times, from 3.54% in November to 7.71%, then 9.64%, and now 11.05%.
- The main driver is surging global demand for AI chips. TSMC, the world’s largest contract chipmaker, supplies companies including Nvidia and Apple, putting Taiwan at the centre of the global AI boom.
SEBI Steps Up Review Of Closing Auction System Ahead Of MSCI Rebalancing
- • SEBI has accelerated consultations with HFT firms, market makers, domestic mutual funds and brokers after the new Closing Auction Session launched on August 3.
- • HFT firms say India’s underdeveloped securities-lending market makes it difficult to borrow stocks, limiting their participation and reducing auction liquidity.
- • Some brokers have proposed reverting to the old closing mechanism on passive-fund rebalance days until liquidity improves.
- • Brokers handling foreign-fund trades are concerned CAS may struggle with large flows during the MSCI quarterly rebalancing later this month.
- • The new system has already reduced activity: auction-window turnover is reportedly 40% lower than turnover in the final 15 minutes under the previous system, while index-options volumes fell 27% on the Aug. 4 and Aug. 11 settlement days.
The Panama Canal is becoming a major bottleneck for global shipping.
- An empty LPG tanker owned by SK Shipping paid $4.6 million to jump the queue, beating the $4 million fee paid earlier this week, as wait times reached 11 days.
- The Iran war has disrupted the Strait of Hormuz, while Houthi attacks have hit Red Sea routes, pushing more ships toward Panama.
- El Niño is also lowering canal water levels and forcing draft restrictions, while daily auction prices are averaging 16 times last year’s levels.
🇮🇳 India is rapidly changing where it gets its fertiliser.
- Egypt, Algeria and Nigeria supplied nearly 1.1 million tonnes of urea to India in Q1, up from zero a year earlier and accounting for more than half of India’s urea imports last quarter.
- The shift came after Iran closed the Strait of Hormuz in February 2026, disrupting routes that previously carried over 40% of India’s fertiliser imports.
- Higher global prices and rerouted supplies are also raising costs, with the Fertiliser Ministry proposing to double subsidies to ₹3.54 trillion ($37.1 billion).
