The Supreme Court in Nepal has blocked the Balen Shah-led government's order imposing customs duty on daily consumable goods worth over NPR 100 (₹62) brought via the Indo-Nepal border. The court announced its decision on a writ petition challenging the order, claiming it violated the country's Customs Duty Act, 2024. The order had triggered public criticism against the 'Gen-Z' government.

Nearly $1 trillion was erased from US equities within the first five minutes of trading, led by declines in tech and chip stocks. Intel and Nvidia's shares fell 6% and 3%, respectively, while AMD and Micron dropped 3% and 5%. The decline came after US President Donald Trump and Chinese President Xi Jinping's talks ended without major semiconductor trade announcements.

Microsoft completed legal paperwork within 24 hours for an emergency plan to absorb OpenAI's top leadership after CEO Sam Altman was fired in 2023, Microsoft CEO Satya Nadella told a US court. The Windows-maker's new subsidiary estimated it'd cost $25 billion to hire Altman, Greg Brockman and other OpenAI employees. The plan wasn't carried out as Altman was soon rehired.

Gig workers' union have called for a nationwide strike on Saturday, urging app-based drivers and delivery personnel to halt services from 12 pm to 5 pm. The Gig & Platform Service Workers Union (GIPSWU) is protesting rising fuel prices and low pay, demanding higher per-kilometre rates. The move follows a recent fuel price hike of around ₹3 per litre.

Delhi, Goa, Uttarakhand and Chandigarh are among those Indian states/UTs which have the cheapest petrol and diesel, News18 reported. Meanwhile, Andhra Pradesh, Telangana, Madhya Pradesh, Maharashtra, Rajasthan and West Bengal are among those with the costlier fuel, the report stated. The variation in fuel prices is due to VAT, additional cess or surcharges imposed by the states.

Stellantis and Dongfeng signed a $1.2 billion (over ₹11,500 crore) deal to produce Peugeot and Jeep-branded vehicles ‌in China, hinting at a future expansion. The billion-dollar deal aims to "strengthen their cooperation by leveraging the two parties' scale, expertise, and R&D capabilities in the industry". The companies also plan to produce two Jeep-branded off-road new energy vehicles next year.

Government has imposed a Special Additional Excise Duty (SAED) of ₹3 per litre on export of petrol, with effect from May 16. The SAED on diesel exports, however, has been trimmed to ₹16.5 per litre from ₹23 at present, and the same on aviation turbine fuel (ATF) has been reduced to ₹16 from ₹33 a litre.

Pacts on strategic petroleum reserves signed during PM Narendra Modi's visit to the UAE include a potential increase of state-owned Abu Dhabi National Oil Company (ADNOC)'s ​crude oil storage in India for up to 30 million barrels. The deal also explores potential crude storage in the UAE's Fujairah as part of India's strategic reserve, Reuters reported.

TVS Motor Company reported a 19% year-on-year rise in consolidated net profit to ₹772 crore for the March quarter. The firm's revenue reportedly jumped 30% to ₹15,053 crore, driven by a 28% increase in overall vehicle sales. Additionally, electric vehicle sales registered a strong 51% growth to reach 1.15 lakh units during this period.

Power Finance Corporation reported a 2.8% year-on-year increase in consolidated net profit to ₹8,598 crore for the March quarter. The firm's revenue from operations reportedly fell 1% to ₹28,919.52 crore during this period. Furthermore, the company proposed a final dividend of ₹3.95 per share in addition to previously paid interim dividends.