ADNOC Distribution said it has signed a definitive agreement to acquire 100% of Shell Downstream South Africa (SDSA) for an implied enterprise value of about $1 billion, including 580 fuel stations and wholesale fuel, aviation and lubricants operations. The deal is expected to close in 2027 and is projected to lift earnings per share by 6% in the first full year after completion, with an IRR above the company’s hurdle rate. After completion, a 28% stake in SDSA is expected to be sold to a local empowerment partner and an employee stock option plan. ADNOC Distribution is listed on the Abu Dhabi Securities Exchange under the symbol ADNOCDIST.

India and Indonesia held high-level talks in Jakarta and said they would expand cooperation in defence, critical minerals and maritime infrastructure. Indonesia plans to induct India’s Astra air-to-air missiles and expand its BrahMos missile inventory, while India is set to supply additional missile batteries. India will invest in manufacturing facilities in Indonesia covering steel, nickel and rare earth permanent magnets, and the two sides are also working on joint development of Sabang port overlooking the Strait of Malacca.

RITES Ltd. said it has won a $35.82 million order from Volantis Asset Finance (Ply) Ltd. to supply and commission 4,000 HP Cape Gauge diesel-electric locomotives, to be executed within 20 months. The deal marks the company’s first major international business breakthrough in two years, alongside expectations that turnkey work will contribute 10% to 15% in financial year 2027 and an overseas order book of more than ₹2,100 crore. Shares rose 8.1% to ₹233.76, making the stock the top gainer on the Nifty 500 index.

India’s fertiliser stock stood at 163.65 lt as of July 2, covering 43% of Kharif-season demand. The government said natural gas supplies to urea plants have been restored to 100%, allowing factories to run at full capacity. It also said 15 imported fertiliser vessels have safely crossed the Strait of Hormuz, with five more in the pipeline. Officials said diversified imports, higher domestic output and adequate stocking are being used to keep supplies stable.

Samsung Electronics reported an unprecedented 19-fold jump in preliminary Q2 2026 operating profit to 89.4 trillion won, soundly beating global forecasts. Fueled by a compounding systemic shortage of conventional DRAM and soaring AI infrastructure demand, the South Korean tech giant is flexing its immense capital scale to cement global semiconductor dominance.

Trent Ltd reported 19% year-on-year provisional revenue growth for the June quarter, below the 22% growth analysts had penciled in. Brokerages said the topline was largely supported by a 26% YoY rise in store count, while revenue per store fell 5% YoY, pointing to slower ramp-up at newer stores or continued cannibalisation at select locations. The stock fell 9.96% to Rs 3,010.10 on the BSE, trimming its 2026 gains to 6.49%.

Hong Kong launched a central clearing system for gold and resumed gold futures trading as it pushes to strengthen its role as a regional bullion hub. The city also rolled out “Delivery Connect” with the Shanghai Gold Exchange to facilitate cross-border gold delivery and settlement. Authorities said they will consider launching yuan-denominated gold futures and introduce tax incentives to support trading and settlement, according to Reuters.

Fitness and active lifestyle platform Cultfit has filed its draft red herring prospectus (DRHP) with India’s Securities and Exchange Board of India (SEBI) for an IPO featuring a Rs 950 crore fresh share issue. The offering will also include an offer for sale (OFS) of up to 178.6 million shares by existing investors and individual shareholders. The total offer size will be finalised after the price band is set.