International News 16 October 2026
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Jio Platforms Sets Terms for India’s Largest-Ever IPO, Targeting US$108.3 Billion Valuation
Jio Platforms, the telecom, cloud computing, and artificial intelligence company owned by billionaire Mukesh Ambani, is preparing to hold the biggest initial public offering (IPO) in India’s history. The company aims to raise up to US3.2 billion at a valuationof US$108.3 billion. Citing Reuters on Wednesday (October 14, 2026), Jio Platforms said the offering will open on October 21 and close on October 23, 2026, while the anchor investor portion is scheduled for October 19. Jio has set a price range of 1,065 to 1,119 rupees per share, and the company will issue 270 million new shares in the offering. Founded in 2016, Jio transformed India’s telecom industry by offering free voice and data services. That strategy gave millions of Indians their first access to digital services such as YouTube and Facebook.
Norway Set to Overhaul Ethics Rules for US$2.3 Trillion Wealth Fund After Caterpillar Divestment Row
Norway is preparing to overhaul the ethical investment rules governing its US$2.3 trillion sovereign wealth fund, following a controversy over the divestment of a US company that drew protests from President Donald Trump’s administration. Citing Reuters (October 15), the changes will draw on the findings of a government-appointed commission, which are scheduled to be announced today. The review comes after Norway’s parliament suspended ethics-based divestments about a year ago. The dispute began when the world’s largest sovereign wealth fund decided to sell its shares in US heavy equipment maker Caterpillar, a decision linked to the use of Caterpillar bulldozers in Gaza and the Israeli-occupied West Bank. The move drew objections from the Trump administration. A few weeks later, parliament voted to pause ethics-based divestments until the evaluation was completed. The Norwegian government has denied that the suspension was prompted by concerns over pressure from Washington, even though more than half of the fund’s assets are placed in US markets.
Oil Prices Slip as Investors Weigh Hormuz Shipping Attacks and US Move to Ease Sanctions on Some Vessels
Global oil prices weakened on Thursday (October 15, 2026) as investors weighed the risk of supply disruptions from attacks on ships in the Strait of Hormuz against US efforts to curb oil shipping costs by easing sanctions on certain vessels. According to Reuters, Brent crude futures fell US$1.64,or1.6%,toUS$104.42 per barrel at 03:37 GMT. US West Texas Intermediate (WTI) crude dropped 98 cents, or 1%, to US$94.11 per barrel. The decline erased part of the previous session’s gains, when WTI briefly hit its highest level in three weeks. That rally was driven by a Houthi attack on Saudi Aramco’s headquarters and a statement from Iran that it was using new tactics to target ships in the Strait of Hormuz and keep oil prices elevated.
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