Russia Rate Cut, Hormuz Transit Eases, India Market Reforms

1. The Central Bank of Russia cut interest rates by 25 basis points, less than the market's expectation of 50 basis points.
2. Iran announced new procedures for the Strait of Hormuz, including a 60-day fee waiver and a US agreement allowing compliant vessels passage.
3. India's market regulator (SEBI) approved open-market share buybacks via exchanges with a 66-day cap and permitted mutual funds to use intraday borrowings.