India’s rupee moved sharply in early trade on May 25-26, 2026 as shifting geopolitics and oil prices drove sentiment. On May 25 the currency strengthened about 40 paise to 95.20 against the US dollar on optimism that the US and Iran were close to a peace pact; reports also cited comments by US and Indian officials on progress in bilateral trade talks. By May 26 the rupee slipped about 17 paise to 95.43 amid month‑end dollar demand and a rebound in crude prices after reports of fresh US strikes on Iranian targets. Traders flagged Reserve Bank of India (RBI) intervention and liquidity measures as temporary stabilisers. Market indicators moved in step: Sensex leapt on May 25 before easing on May 26, foreign institutional flows swung between selling and buying, and India’s foreign exchange reserves had fallen in the week to May 15. The dollar index traded near 99, while Brent crude ranged in the low‑to‑high $90s per barrel during the period.

Indian fintech Pine Labs reported a consolidated net profit of ₹59.36 crore ($6.2 million) for the quarter ended March 31, 2026, reversing a year-earlier loss of ₹28.91 crore, as digital payments demand and merchant adoption strengthened. Quarterly revenue from operations rose 17% year-on-year to about ₹700.5 crore, while full-year revenue grew to ₹2,711 crore and Pine Labs posted its first full-year profit of ₹113 crore (₹1.13 billion). Platform gross transaction value (GTV) expanded roughly 50% in the financial year, leaving scope for further monetisation, the company said. Pine Labs now operates in about 20-22 countries, with international revenue exceeding ₹400 crore (around 15% of sales). Management highlighted growth in its devices segment, new oil-marketing contracts, deeper AI usage (1.3 million lines of code handled, 89% agentic contribution and over 46,000 tickets resolved), and said geopolitical tensions in the Middle East had a mild impact on some airline volumes and UAE rollouts. Shares rose over 4% after results, while Morgan Stanley maintained an equal-weight rating and a target implying about 67% upside.

Memorial Day on Monday, May 25, 2026, is being observed nationwide in the United States as a federal holiday honoring service members who died in military service. Government offices, banks and the U.S. stock markets (NYSE and Nasdaq) are closed and the U.S. Postal Service will not deliver mail. Delivery providers are operating with modified service and some UPS retail locations and FedEx offices may be closed. Most major retailers and restaurant chains will remain open to serve holiday shoppers and travelers — including Walmart, Target, Trader Joe’s, Kroger, Publix, Home Depot, Lowe’s and many grocery and pharmacy chains — though some stores may run reduced or variable hours. Costco is a notable exception reported closed by multiple outlets. Pharmacies inside grocery and big-box stores may have limited counter hours. The long weekend is expected to drive heavy travel and robust retail activity; consumers are advised to check local store and service hours before heading out.

AGL detonated explosives on May 26, 2026 to bring down the two iconic chimneys of the retired Liddell coal-fired power station near Muswellbrook in New South Wales. Each concrete stack rose about 168–170 metres; the station was retired in April 2023 after roughly 52 years of operation. AGL and contractors carried out a controlled demolition after an 18-month preparation that included site clean-up and recycling of materials. The site already hosts a newly commissioned 500-megawatt, two-hour grid-scale battery and is being repurposed as the Hunter Energy Hub, with proposals including an eight-hour pumped hydro project, solar manufacturing and recycling, and data-hub uses. The demolition marks a physical milestone in the region’s shift away from coal: Liddell produced about 431,000 GWh during its lifetime and its fall follows broader market signals that many eastern seaboard coal plants will close by 2035, with the Australian Energy Market Operator forecasting coal exit by 2040. AGL says the cleared industrial land, road and water access present opportunities for investment and new jobs, even as former workers and local communities register mixed emotions.

Global markets rallied and oil slid after fresh diplomatic momentum raised prospects of a US‑Iran agreement to reopen the Strait of Hormuz, easing a three‑month energy shock that has pushed benchmark crude sharply higher. Brent fell more than 5% on May 25–26 to trade around $97–98 a barrel and US WTI near $91, while some Asian trade data showed a handful of LNG tankers and a supertanker leaving the Gulf. The dollar eased (DXY near 99) and major currencies gained as risk appetite improved, even as renewed US strikes on Iranian targets in southern Iran briefly pushed oil back up. Iran’s negotiators were reported in Doha for talks and US officials said progress had been made on a memorandum of understanding, but key issues and a transition timeline for clearing mines and restoring flows remain unresolved. Markets and analysts warned that normalising physical oil flows, repairing damaged facilities and rebuilding inventories will take months, keeping inflation and central bank policy risks elevated.