High fuel costs drive more Indians to buy electric cars, but challenges remain.

Russia's oil and gas additional revenues surged to 175 bln rubles in May, boosting budget and weakening ruble to 11 per yuan. Total tax revenues from oil and gas rose 33% year-on-year to 679 bln rubles.

In May, Russia's additional oil and gas revenues significantly contributed to the federal budget for the first time since the Middle East crisis began. The amount reached 175 billion rubles, up from 21 billion in April, and total oil and gas tax revenues in May were 679 billion rubles, a third higher than in May 2025. The increase led to a speculative weakening of the ruble to 11 rubles per yuan on the Moscow Exchange.

SpaceX plans $75 billion IPO, valuing company at $1.77 trillion in record-breaking offering

SpaceX, Elon Musk's rocket and satellite company, announced on Wednesday it plans to raise approximately $75 billion in an initial public offering, valuing the company at $1.765 trillion. The offering of 555.6 million shares at $135 each would surpass Saudi Aramco's record $25.6 billion IPO in 2019.

Benchmark raises $2B across two new funds, including a $1.25B growth fund, its first late-stage vehicle after decades of early-stage focus, WSJ reports.

Benchmark has raised $2 billion across two new funds, including a $1.25 billion fund for late-stage investments, its first growth fund after decades of focusing on early-stage startups, according to the Wall Street Journal.

Argentina's central bank tops $10B dollar purchase target, fueled by record harvest and energy boom.

Argentina's central bank surpassed its $10 billion target for dollar purchases in the first half of 2026, driven by record crop harvests, an energy boom, and increased debt issuance by provinces and local companies.