Daily Recap: Business — 11 October 2026

Business news is shaped by a split between long-horizon industrial ambition and near-term market unease. Governments and companies are laying out big plans in steel, metals, autos and AI, while foreign outflows, trade costs and fading tech momentum underline how fragile investor...

Foreign portfolio investors pull ₹44,166 crore from Indian equities so far in October, extending a sustained retreat from the market. With September already seeing heavy selling, total net foreign outflows for 2026 now top ₹3 lakh crore, adding pressure to sentiment in one of Asia’s key equity markets.

Amazon is in talks to buy AI startup Decart in a deal that could value the company at about $7 billion. The discussions signal that large technology groups are still willing to spend heavily on artificial intelligence assets, even as deal terms remain unsettled and no transaction is yet final.

Higher U.S. tariffs and tensions involving Iran are raising costs for some American manufacturers ahead of the midterm elections. Businesses describe a mixed picture in which a few firms gain protection from foreign competition, but many still face more expensive inputs and persistent uncertainty over pricing and supply chains.

India’s draft National Steel Policy sets out a major expansion of the industry, targeting crude steel capacity of 604 million tonnes by 2047, up from about 220 million tonnes now. The plan also aims for steel demand of 505 million tonnes by that date, pointing to a long-term push in industrial scale.

South Korea’s stock market is losing some of the momentum that came from the artificial-intelligence boom, as foreign investors pull back and trading activity cools. The shift suggests waning enthusiasm in a market that had been lifted by AI-linked bets, with turnover falling sharply from earlier highs.

Adani’s Kutch Copper project plans to add 115 megawatts of renewable power as it expands its copper smelting operations. The move is designed to support growing industrial output while lowering the emissions intensity of the facility, tying capacity growth to cleaner energy supply.

Citroën has unveiled an electric concept based on the classic 2CV, with plans for a production model in 2028 priced from around €15,000. The project points to continued pressure on European carmakers to produce lower-cost electric vehicles that can reach a broader section of the market.

Australia’s ASX is set for a higher open after gains on Wall Street and firmer trading in parts of Europe. The upbeat lead comes with oil still in focus, leaving investors to balance improved global market sentiment against the risk that energy moves could quickly alter the tone.