Missiles Fly, Markets Rally, and Amma’s Already Rearranging the Kitchen

THE WEEKLY STEEP

What did the biscuit say to the chai?
“Thanks for always catching me when I crumble.”

(Got a better one? Reply to this email with your best chai-time joke!)

WHAT’S BREWING

South Asia:

• Precision Strikes, Global Ripples: 🇮🇳 India’s drone and missile attacks hit key Pakistani military targets, including Bholari and Nur Khan air bases with visible infrastructure damage. 🇵🇰 Pakistan claimed similar retaliation, but satellite imagery showed little evidence of damage to Indian facilities.

  • A New York Times satellite analysis of the recent four-day conflict shows that while both India and Pakistan claimed major strikes, the actual damage was limited and precise. Read more 

• India Tests ‘Bhargavastra’ Anti-Drone System: the system boosts India’s frontline air defense, especially amid rising drone threats from the western border. Modular, cost-effective, and Made in India. Read more 

• South Asia Faces a Multi-front Test, Military, Diplomatic, and Geopolitical:

  • Baloch separatists declared independence. Read more

  • China renamed 27 Arunachal locations. Read more

  • India boycotts Turkey and Azerbaijan over their pro-Pakistan stance.

U.S.:

• Gulf Billions & a U.S.-China Tariff Timeout: The U.S. just inked $1.8T in deals with Saudi Arabia and Qatar, from $142B in defense to $96B in Boeing jets. Meanwhile, a 90-day U.S.-China tariff pause cuts duties sharply, but long-term trade peace? Still TBD.

  🇮🇳 For the diaspora: Gulf capital is reshaping U.S. sectors from tech to healthcare and tariff relief could ease costs for diaspora-led exports and small businesses.

• U.S. Retail Holds Steady, But Consumer Caution Lingers: Retail sales rose 4.7% YoY in April (excluding autos, gas, restaurants), showing surprising strength despite weak sentiment. Categories like eCommerce, Health & Personal Care, and Home Furnishings outperformed, likely boosted by pre-tariff buying. Read more

• U.S. Consumer Health: Bain’s index shows consumer outlook remains negative (at 95.1), and intent-to-save just dropped 5.1 points, signaling shoppers may expect higher costs ahead and are less inclined to save. Tariffs remain a looming threat for retailers. Read more

• Remittance Tax Alert: A proposed 5% tax on money sent abroad, targeting non-citizens, has stalled in Congress, for now. But with $32.9B sent to India in FY24, Indian families would be hit hardest if it advances. Read more

Global:

• Russia-Ukraine: Peace Talks Stall in Turkey: Putin skipped the summit, Ukraine's ceasefire call was rejected, and fighting raged on, no breakthrough in sight. Read more

• Australia: Labor Landslide, Liberal First: PM Anthony Albanese secures a second term with the biggest center-left win since 1901. The Liberal Party names Sussan Ley its first female leader, a historic moment for gender representation and political reset. Read more

• Canada: Anita Anand Named Foreign Minister: Anita has become the first Hindu woman and the first Canadian of Indian origin to be appointed Foreign Minister. Sworn in with her hand on the Bhagavad Gita, her appointment marks a powerful moment for representation in Canadian politics. Read more

MONEY MOVES

UnitedHealth in Crisis: Amid a $170B stock wipeout, UNH is grappling with a securities lawsuit, a reported Medicare fraud probe, civil investigations, a CEO’s murder, a cyberattack and now, a leadership shakeup as its CEO steps down. Result, a 40% plunge and rattled investor confidence in 2025. Read more

Walmart Warns of Price Hikes: Despite strong Q1 sales, Walmart says tariffs from Trump’s trade policies will push prices higher starting late May. With slim margins and rising costs, some increases are “unavoidable,” CEO Doug McMillon said. Read more

Dick’s to Acquire Foot Locker for $2.4B: The deal aims to grow global reach, boost digital retail, and unlock $100M+ in cost savings. Expected to close in late ‘25. Read more

India Tops Asia-Pacific Equity Charts: India has overtaken Japan and China as the region’s most preferred equity market, with 42% of fund managers overweight on Indian stocks. Why? Strong growth, supply chain shifts, policy wins, and investor confidence. Short-term flows may shift, but India’s long game is looking strong. Read more

📦 Moving back to India? Before you ship the suitcases, read this playbook: what to expect, what to plan, and how to land on your feet. Read more

PLAY BY PLAY

Cricket: Virat Kohli announced his retirement from Test cricket this week, closing a historic chapter after 123 matches, 9,230 runs, and a legacy as India’s most successful Test captain. An era ends, but the legacy roars on. 🏏🥂

IPL: returns May 17, with 17 matches, 6 venues, and 2 spicy weekend double-headers, all building to the June 3 final. Clear your calendar. Our IPL 2025 guide has your back with updated match schedules. Tap in

Tennis: French Open begins May 19. Clay court season is back. Alcaraz, Iga, or a classic Djokovic meltdown, get ready for slow-burn tennis and high-stakes drama. Chai, croissants, and five-set thrillers? Oui, please

Soccer: FA Cup Final on May 17, Crystal Palace vs. Manchester City at 11:30 AM EST. Palace chases their first-ever major trophy and City eyes a three-peat. Stakes are high with silverware, Europa League qualification, and a Community Shield spot on the line.

F1: heads to the iconic Imola, Italy circuit with qualifying on Saturday and the race Sunday, May 18 at 9 AM EST. High-speed corners, Ferrari pressure, and classic European track energy make this one to watch.

NBA: Playoffs update:
🗽 Knicks lead 3-2, but Celtics bounce back big in Game 5 (127-102)
🚨 Pacers eliminate Cavs 4-1, first East Finals trip since 2014
🏔️ Nuggets bounce back to tie the series 3-3 with OKC
🐺 Timberwolves knock out Warriors 4-1, punch ticket to West Finals

RAISING ROOTS

☀️ Let The Summer of Love (and Leftovers) Begin

Parents have landed. Sabzi is flowing. Boundaries? Blurry.

Here’s your joyful gameplan to having three generations under one roof, full of hacks, hugs, and hing. Read the Blueprint

LIVING WELL

👁️ Bye-Bye Baggage: Under-Eye Drama = Cancelled

You got sleep. You drank water. Your dark circles still RSVP’d. South Asian skin has its own story and spoiler, it’s not just about being tired. We’re breaking down the real reasons (hello, genetics), sharing what actually works (from caffeine creams to chai bag hacks), and challenging you to glow up, your way.

Ready to cancel the drama and keep the melanin magic? Read the full article, join the #WeeklyChaiSkin challenge, and break the cycle.

🍞Sourdough Naan? Your Nani Did It First

Before fermentation was a trend, it was just Tuesday in your nani’s kitchen. No starter jars, no timers, just intuition, wild yeast, and a hot tawa. This week, we’re rolling out the story (and the dough) behind sourdough naan, where ancient technique meets modern flex. Whether you're here for the tang, the tradition, or the TikToks, we’ve got the recipe, the inspo, and the nani-approved tips to get you started.

Ready to rise? Join the #SourdoughNaanClub and bring the culture to the countertop.

COSMIC CHAI

Your Weekly Horoscope (May 16 - May 23)

The astrology gods finally chill. Venus gets her sparkle back, Mars stops beefing with Pluto, and your inner chaos meets its match in clarity, calm, and cash potential.

🌿 Earth signs: Post-drama peace mode. You’re finally feeling the weight lift.
🌊 Water signs: Started the week in your feels, ending it in your power.
🔥 Fire signs: Confidence reboot unlocked. You’re magnetic, maybe even a little dangerous (in the flirty way).
🌬 Air signs: From stuck to slick. You’re vibing with momentum and finally making moves.

Cosmic Dates to Know:

• May 16-18: Green lights for love, healing convos, and well-timed risks

• May 17: Caution zone for big purchases (and credit card autopilot)

• May 19 onward: Fresh starts feel real, especially in relationships and career moves

Read full horoscope here

EDITOR'S PICK

“Rocket Boys” - India’s Nuclear Origin Story Comes Into Focus

What happens when science, sovereignty, and geopolitics collide? Rocket Boys tells the story of India’s nuclear and space programs through the eyes of the men who built them.

As the world reenters an era of nuclear tension, this Sony LIV series feels newly urgent and deeply relevant. We break down how to watch it from the U.S., what history it covers, and why it’s sparking fresh debate about India’s scientific legacy and global role.
👉 Read more, where to stream, what’s real, and why it matters now.

UPCOMING WEEK (MAY 16 - MAY 23) 🗓️

The Week Ahead: Whether you're heading to Vegas or just reliving your rave era in fuzzy socks and nostalgia, let this be your excuse to dance it out and text that cousin who still calls you “DJ Didi.”

• May 16: Knicks’ Moment of Truth in Game 6; Go NY, Go NY, Go

• May 16-18: Electric Daisy Carnival (EDC) Las Vegas: One of the world's largest electronic music festivals, featuring top DJs and immersive experiences.

• May 17: IPL returns;  Tap in for updated match schedules.

• May 17-18: 'Cowboy Carter' Tour - Chicago: Beyoncé performs at Soldier Field, blending country influences with her classic hits.

• May 18: Game 7, Nuggets fight to stay in it. Win or go home.

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