Weak equity markets and FII outflows also pressurised the rupee, forex traders said.

Brent crude futures surpassed USD 100 a barrel for the first time in almost six weeks after attacks on oil facilities and ships in West Asia threatened to weaken the already strained supply chain amid the US-Iran tensions. Brent crude was trading higher by 2.94 per cent at USD 100.73 per barrel.

At the interbank foreign exchange market, the rupee opened at 94.80, also its intra-day high, against the US dollar. The local unit fell to an intraday low of 95.22 as crude oil prices surged. The rupee settled at 95.08 (provisional), down 34 paise from its previous close of 94.74.

Meanwhile, the dollar index, which gauges the greenback’s strength against a basket of six currencies, was trading at 98.84, higher by 0.05 per cent.

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“The rupee declined today on rising crude oil prices and risk aversion in global markets. Brent has breached the USD 100 mark on further escalation of tensions between the US and Iran. FII outflows too pressurised the rupee. However, rupee recovered initial losses on a weak dollar,” said Anuj Choudhary, Research Analyst, Mirae Asset Sharekhan.
The local currency is expected to trade with a negative bias on risk aversion in global markets and worries over rising crude oil prices. Escalation of geopolitical tensions between the US and Iran may also pressurise the rupee, he added.The US military destroyed five Iranian oil tankers on Tuesday in response to the latest attacks on its warships, and Iran hit back at American targets in Jordan.

On the domestic equities market front, Sensex tanked 813.35 points to settle at 74,764.23 while Nifty was down 203.60 points to 23,431.50.

Foreign institutional investors (FIIs) sold equities worth Rs 123.19 crore on a net basis on Tuesday, according to exchange data.

LONG BEACH, CALIF. — Daring Foods, a plant-based foods manufacturer, is debuting a line of frozen skillet meals. The line features six meals formulated with Daring Plant Chicken.

Each skillet meal contains 21 grams to 25 grams of protein and 9 grams to 13 grams of fiber.

The Mediterranean-spiced chickpeas and vegetable variety contains chickpeas, peppers, red onion, garlic and shawarma-inspired spices.

The smoky vegetable chili is made with beans and vegetables in a tomato sauce.

The power grains and greens product is made with quinoa, kale, edamame, red pepper, chili and onion.

The lemon and garlic rotini is formulated with pasta and vegetables in a lemon and garlic sauce.

The teriyaki vegetable stir fry contains broccoli, peppers, mushrooms, water chestnuts and edamame in a teriyaki sauce.

The penne pomodoro features pasta, red peppers, mushrooms and tomatoes in a tomato sauce.

“We believe the foods people love can be better, and Daring Skillet Meals are an important next step,” said Chris Coburn, chief executive officer of Daring. “They bring that idea to life — familiar, flavorful meals made with Daring protein, vegetables, grains and simple ingredients. It’s another step in expanding what Daring can bring to the table, giving people more convenient ways to eat well without compromising on taste.”

The skillet meals may be purchased at Sprouts Farmers Market stores nationwide.

Singapore’s prime minister is set to get a whopping 64% pay increase next month thanks to a boost in ministerial compensation. 

Starting on October 15, Prime Minister Lawrence Wong will see his salary increase to 3.6 million Singapore dollars – roughly the equivalent of $2.85 million USD. 

Singapore already has some of the world’s highest ministerial salaries. The latest changes to political salaries are the first in 15 years.

For ministers and other political officeholders, Wong clarified that immediate adjustments will be limited to a one-off increase of up to 9%, depending on individual circumstances, including performance.

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Lawrence Wong, Singapore’s prime minister, during an interview at the Bloomberg New Economy Gala Dinner in Singapore, on Wednesday, Nov. 19, 2025. (Lionel Ng/Bloomberg via Getty Images / Getty Images)

He also pledged to donate the entire salary increase he receives to charitable causes for the next five years. 

“The sums involved are more than what most citizens earn, so I understand why Singaporeans scrutinize them closely,” Wong told parliament. 

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He added that while leaving pay levels frozen would have been “easier politically,” maintaining an updated system is necessary to attract capable people who might otherwise choose careers in the private sector. 

Lawrence Wong, Singapore’s prime minister, speaks during a joint press statement with Narendra Modi, India’s prime minister, not pictured, at Hyderabad House in New Delhi, India, on Thursday, Sep. 4, 2025. (Prakash Singh/Bloomberg via Getty Images / Getty Images)

Under Singapore’s executive compensation model, political salaries are benchmarked against the median earnings of the country’s top 1,000 corporate earners — with a mandatory 40% haircut to reflect public service. 

Political salaries had remained unchanged since the framework was introduced in 2011. A 2017 review recommended adjustments in line with the benchmark, but the government decided not to raise salaries at the time, while a scheduled 2023 review was deferred amid economic uncertainty.

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Coordinating Minister for Public Services Chan Chun Sing noted in a parliamentary statement that while major corporate CEOs in Singapore earn S$6 million to S$7 million annually, government salaries are not intended to match private sector levels.  

Lawrence Wong, Singapore’s prime minister, left, and John Lee, Hong Kong’s chief executive, at the Government House in Hong Kong, China, on Friday, March 27, 2026. (Peter Parks/AFP/Bloomberg via Getty Images / Getty Images)

“If money is your main reason for wanting to be a Minister, frankly, you are not the person we are looking for,” Chan said. “We will never be able to match the pay of all the people we hope to get…. But we cannot pretend that such opportunity costs do not exist.” 

The framework features a “clean wage” structure, with no pensions or hidden perks. Compensation is structured as roughly 65% fixed pay and 35% variable pay, with the variable component reflecting both individual performance and national socioeconomic outcomes such as real GDP growth, unemployment and income growth.

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Singapore’s political salaries remain among the highest globally, structured in part to deter public sector corruption. By comparison, the U.S. president earns a set salary of $400,000 annually, the Swiss president earns roughly $606,000, and the British prime minister receives approximately $230,000. 

Reuters contributed to this report. 

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23rd ProCon Leicestershire Awards will be held in November

A college has two new buildings up against a new hospital research unit in the Medium Non-residential Scheme of the Year category in the 2026 ProCon Leicestershire property and construction awards.

The sports and technology buildings at Loughborough College are competing with the research unit at Leicester General Hospital in this award, which is sponsored by Knights and is one of seven in this year’s 23rd ProCon Leicestershire Awards.

The Medium Non-residential Scheme of the Year finalists are:

Loughborough College Sports Hall, Loughborough, submitted by Stepnell

Loughborough College Sports Centre is a three-storey, 2,750 square metre sports and learning facility designed to support elite performance, teaching excellence and the long-term growth of the campus.

The scheme is a flagship element of the College’s wider £35 million investment programme and provides a future-ready environment for students, staff and the wider college community.

Delivery took place on a live and operational college campus, requiring careful phasing and proactive coordination to protect student safety and minimise disruption throughout the build.

Leicester Diabetes Centre, Leicester General Hospital, submitted by Stephen George + Partners

The Leicester Diabetes Centre Extension is a new research facility at Leicester General Hospital, strengthening the centre’s position as one of the UK’s leading institutions for diabetes and long-term conditions research.

The three-storey extension was designed to maximise the constrained site without compromising the original building. Contemporary materials, including profiled silver metal cladding, distinguish the extension as the next chapter in the centre’s evolution.

Full-height glazing and the building’s orientation maximise natural daylight, creating bright, welcoming spaces for staff, researchers and visitors to the prominent landmark on the hospital campus.

The Institute of Technology, Loughborough College, submitted by CPW

The Institute of Technology building at Loughborough College is a flagship development delivering a high-quality, future-focused learning environment for engineering, manufacturing and digital education.

As part of the East Midlands Institute of Technology partnership, the scheme plays a key role in strengthening the region’s position as a centre for advanced technical skills and innovation by addressing critical UK skills gaps in engineering, digital and clean energy.

The three-storey 1,452 square metre facility has been carefully designed to support a modern, industry-aligned curriculum in nine classrooms, four specialist laboratories and two open-plan collaboration spaces.

Russell Dowling, Real Estate Partner at award sponsor Knights, said: “As a passionate supporter of development and innovation across Leicester, Leicestershire and the wider region, Knights are delighted to sponsor the Medium Non-Residential category at this year’s ProCon Awards.

“These awards are pivotal in highlighting the incredible expertise that we have to help drive the built environment sector forward locally and we are proud to show our continued support.”

The 2026 ProCon Awards are backed by two corporate sponsors: Salus and Unique Window Systems. The Leicester Mercury’s Business Live is the media partner.

The other six awards are:

• Rising Star of the Year, sponsored by Galliford Try
• Small Residential Scheme of the Year
• Medium Residential Scheme of the Year
• Small Non-residential Scheme of the Year, sponsored by Merali Beedle
• Large Non-residential Scheme of the Year, sponsored by Procure Partnerships Framework
• Regeneration Project of the Year, sponsored by NJC Surveys and AR Demolition

All the contenders will be in the spotlight at a Finalist Showcase at the 2025 winner Jewry Wall in Leicester from 6pm on Wednesday October 7.

Finalists and winners will be celebrated at a ceremony on November 12 at Leicester City’s King Power Stadium. Details of all the awards finalists are at: procon-leicestershire.co.uk/procon-awards/2026

Companies keen to attend the Finalist Showcase, the ceremony or to enquire about sponsorship opportunities can contact Allyson Jeffrey on 0116 278 1443 or via email: info@procon-leicestershire.co.uk