Modi-Biden dinner: Joe Biden will host India's Narendra Modi for a state dinner, the White House said, marking his third such event after dinners for the leaders of France and South Korea. https://bloom.bg/3pvOP7K

EV push: Indian conglomerate L&T's engineering arm is ramping up investments in self-driving and electric vehicle technologies, betting on India's appeal as a source of expertise for global manufacturers. https://bloom.bg/44NHjVV

Thailand monarchy: A wave of royal skepticism is changing Thailand's political landscape ahead of a May 14 election. https://bloom.bg/3Mf2EAe

Court probe: India's top court and markets regulator are facing their biggest opportunity to show the country's determination to police its most powerful companies as they investigate the bombshell allegations on Gautam Adani by Hindenburg. https://bloom.bg/42uunCQ

Back to debt: Three companies controlled by billionaire Adani are considering a fundraising that may draw as much as $5 billion, people familiar with the matter say. https://bloom.bg/3nMkyBf

Scaring away investors: China's unpredictable policy making is deterring foreign investment that the country's cash-strapped cities are desperate to entice. https://bloom.bg/3I32Hg6

Hello, here’s what we're watching today:

Turkey 🇹🇷 and Thailand 🇹🇭 are holding potentially game-changing elections today, a fitting start to a week where politics is set to play a dominant role in markets https://bloom.bg/3pC0zWg

Thailand, a US ally and Southeast Asia's second-biggest economy at $506 billion, has wrapped up voting for its lower house of parliament. It's a battle between ruling conservatives and a progressive opposition. We've made this live coverage free to read: https://bloom.bg/3LZMWI1

Meanwhile, Russia strikes the home city of Ukraine's Eurovision finalist. The attack was one of several overnight. https://bloom.bg/3nWigiV

The victory in the southern Indian state of Karnataka over the weekend was one of the most significant for Congress against Modi’s BJP in major state elections since he took power nearly a decade ago. Can Rahul Gandhi build on that momentum in the five remaining state assembly elections before the 2024 vote?

Here are the main takeaways from Karnataka elections: https://trib.al/kqdYjcv

Pricing is key: Shares of Indian billionaire Gautam Adani’s group firms will be in focus after boards of two companies approved proposals to raise as much as $2.6 billion. https://bloom.bg/3MbOzTc

Making Profit: A sweeping overhaul — including laying off about 10% of its workforce, drastic cost cuts and exit from India — has helped tech startup Sea swing to quarterly profit for the first time in its 14-year history. https://bloom.bg/3W7sVUr

India Beckons: Carlyle Group is in the early stages of exploring an entry into India’s private credit market, joining global firms drawn to the area. https://bloom.bg/42BBB8a

Historic investment: Alibaba will make “huge” investments in its Taobao shopping app after the Chinese company’s restructuring produced six new units able to raise funds and seek listings independently. https://trib.al/nelecRW

Subpoenaed: Elon Musk was subpoenaed by the US Virgin Islands in its lawsuit accusing JPMorgan of knowingly benefiting from Jeffrey Epstein’s sex-trafficking. https://trib.al/bCpMiPt

Easing rules: Singapore will further ease rules on egg freezing by increasing the age limit for women who wish to undergo the procedure. https://trib.al/3evLNkh

Rate-cut bets: Traders accustomed to aggressive interest-rate hikes across Asia are now seeking to gauge when the region’s central banks, from South Korea to India, will begin cutting. https://bloom.bg/3IijMTl

Easing prices: India’s wholesale prices contracted for the first time in almost three years after global commodity prices softened, bringing down input costs for producers. https://bloom.bg/3WaOofs

Currency wagers: Some of the world’s biggest investors are backing emerging-market currencies to outperform their developed-nation peers as monetary tightening pauses, growth slows and calls for a weaker US dollar become louder. https://bloom.bg/3OcLVyQ

New location: The leaders of Australia, Japan, and India will meet with the US on the sidelines on the G-7 after Joe Biden dropped Sydney from his travel agenda. https://bloom.bg/3ob0QPu

Growth hurdle: A cash crunch is persisting in India, pushing short-term borrowing costs above a key policy interest rate and posing risks to an economy that needs cheaper funding to sustain its recovery. https://bloom.bg/41KHcI2

Hot planet: Demand for air conditioners are surging in markets where both incomes and temperatures are rising, including India. But, what’s good for measures of public health and economic productivity is unquestionably bad for the climate. https://bloom.bg/3MvKL0i

Wealth: If you want to join Monaco’s richest 1%, you’ll need an eight-figure fortune. Here's how much wealth you need to join the richest 1% globally. https://trib.al/GJDHYg4

Wooing laptop makers: India is unveiling a $2 billion financial incentive plan to draw makers of laptops, tablets and other hardware to the South Asian nation as companies look to diversify supply chains beyond China. https://trib.al/PGfDcL2

Xi clampdown: A prominent LGBTQ+ center in China is closing down after 15 years, another sign of the tightening of space for sexual orientation-focused organizations under President Xi Jinping. https://trib.al/zEjSltR

Slashing stake: Goldman dramatically reduced exposure to the Adani Group, selling 11.7 million shares in its ESG portfolios after Hindenburg’s allegations. https://bloom.bg/3MiN3i3

Cloud invest: Amazon plans to invest $12.7 billion in cloud infrastructure in India by 2030, joining other global tech giants in betting on growth in the South Asian nation’s digital economy. https://bloom.bg/3MCidSL

Power struggle: The death of patriarch Srichand Hinduja at age 87 raises questions over who’ll assume his role as de-facto head of one of the world’s biggest family fortunes with origins dating back more than a century. https://bloom.bg/3Olj2AJ

Record results: Singapore Airlines will pay staff a bonus of around eight months salary after posting a record annual profit. https://trib.al/AVNUwaH

High stakes: Apple’s upcoming mixed-reality headset could shape Tim Cook’s legacy and a post-iPhone era — but it falls short of his original vision. https://trib.al/DHzLHvC

Sales growth disappoints: Alibaba posts single-digit revenue growth again, reinforcing concerns that a Chinese consumer spending rebound may be farther out than anticipated. https://trib.al/4ez7Loe

A debut attended by Zendaya, an award-winning Broadway musical and India's first Apple store. Asia’s richest man is going all in to push global luxury products and experiences to India.

The newly built cultural centre in Mumbai, the NMACC, is bringing international art, retail brands and more to a city that has one of the fastest-growing millionaire populations in the world.

It is the latest example of the world's richest aiming to preserve and develop institutions that would live far past their times. All the details here: https://trib.al/tDb2Buv

Local debt problem: A remote Chinese town was forced to undergo an unprecedented financial restructuring. It's just the tip of the iceberg of a local government debt problem that threatens to be a drag on the world’s second-largest economy for years to come. https://bloom.bg/3BOl7O2

Note withdrawal: India withdrawing its highest value currency notes from circulation may push some consumers to buy precious metals and real estate. https://bloom.bg/3q7BWRm

Comeback: Adani Group shares surged, extending gains spurred by an Indian court panel's report that found no conclusive evidence of stock-price manipulation as alleged by Hindenburg. https://bloom.bg/422j8Aq

Groom AI talent: Singapore is seeking to expand the talent pool for AI and data analytics in the finance sector. https://trib.al/smJ7Kd1

US tech clash: China found serious cybersecurity risks after conducting a review of Micron products sold in the country. https://trib.al/fra8Ysj

Debt problem: Paychecks are late. Fines are piling up. China’s $23 trillion local debt problem is just getting started. https://trib.al/9tXvCmS

Avoiding blacklist: Russia is pressuring governments including India behind the scenes, threatening to upend defense and energy deals unless they help block expected moves aimed at turning Russia into a financial pariah state over its invasion of Ukraine. https://tinyurl.com/5xpdkkt2

Grand return: Shares of Adani Ports climb 7.7%, making it the first of the group's 10 companies to recover all losses triggered by Hindenburg's report. https://tinyurl.com/muhyhtb7

Rockstar welcome: Thousands of Indian expats are flocking to see Prime Minister Narendra Modi in Australia’s largest entertainment arena. The huge crowds despite his party's loss in a crucial state election underscore his massive appeal at home and abroad. https://tinyurl.com/mr38z4b

Short on cash: India’s central bank may buy as much as 1.5 trillion rupees ($18 billion) of government bonds to replenish banking liquidity as higher spending during state elections due later in the year may lead to money leaving the system, according to a top banker. https://bit.ly/3WwauJe

Stricter digital law: India plans to overhaul rules governing internet use, potentially altering business practices for Silicon Valley giants operating in the world’s biggest market. The country’s goal is to increase Big Tech’s accountability to the government and protect users.https://bit.ly/420aqCM

Tech craze: Investors are snapping up shares of Asia’s technology hardware exporters, bolstered by interest in artificial intelligence and signs that the chip industry is turning a corner. https://bit.ly/3MAmrZN

New parliament: Indian Prime Minister Narendra Modi has inaugurated a new parliament house in New Delhi. The new building, a part of the Central Vista project, shows Modi’s efforts to cement his legacy as he looks to a third term in office. https://tinyurl.com/3z8u2cfp

Regaining spot: India reclaimed its spot as the world’s fifth largest stock market after losing that status to France in January, aided by a revival in Adani Group stocks. https://tinyurl.com/bdf57hfk

Real club: The BRICS group of emerging markets — Brazil, Russia, India and China, with South Africa added later — has gone from a slogan dreamed up at an investment bank to a real-world club that also controls a major development bank. Here's why others want in. https://tinyurl.com/5bxcntvm

China touchdown: Elon Musk's jet has landed in Beijing for what would be his first China visit in three years — with sources saying he'll meet officials and visit Tesla's Shanghai factory. https://bloom.bg/43b3ns9

Cricket craze: Ambani’s big cricket bet captured a record 32 million viewers for the Indian Premier League final. Now the question is whether he can get them to pay. https://bloom.bg/43x4y53

Cash-hungry: Adani Transmission is in urgent need of funds — the lack of which would not only reflect poorly on the billionaire’s execution skills, but also hinder Prime Minister Modi’s infrastructure ambitions. https://bloom.bg/45vDGEx

Maintaining ties with China: Elon Musk is visiting China this week in his first trip to the country since before the pandemic. https://trib.al/ZMWBvpS

Second court ruling: A court in central Japan ruled the country’s lack of recognition for same-sex marriage violates the constitution https://trib.al/HSAAtrY

Seeking new laws: Former teen performers who say they were sexually abused by Japanese impresario Johnny Kitagawa are asking politicians to strengthen the country’s laws against child sexual abuse. https://trib.al/BGMrzSe

Souring Bet: India’s government is poised to deny crucial funding for billionaire Anil Agarwal’s chip venture, a setback for a $19 billion push to make semiconductors in the country. https://rb.gy/sjb10

Transparency: India proposes to seek more disclosures from foreign funds with large holdings in local stocks or companies, following criticism about lack of oversight over inflows into sprawling conglomerates such as the Adani Group. https://rb.gy/q3x57

Spiraling wages: Coal India, the world’s biggest miner of the fuel, hiked prices for the first time in five years to offset an increase to its $5 billion wage bill. https://rb.gy/nqzjy

Fault lines: US inspectors have in recent months uncovered wide-ranging lapses at factories run by some of India’s biggest pharmaceutical firms, as the world’s top supplier of cheap medicine faces increased scrutiny. https://t.ly/_5e-

Rupee hoard: A lopsided trade relationship with India is forcing Russia to accumulate up to $1 billion each month in rupee assets that remain stranded outside the country. https://t.ly/tu-3

Grapplers Protest: Several champion Indian wrestlers threatened to throw their medals in the holy Ganges river this week before postponing the plan, the latest escalation in an ongoing MeToo protest that also has implications for the country’s politics. https://t.ly/MqHi