US President Donald Trump on Monday confirmed that his administration has received a proposal from Iran aimed at ending the ongoing conflict in West Asia, but described the offer as insufficient.
Despite President Trump's optimistic prediction of a swift resolution to the ongoing conflict with Iran, Tehran dismisses any possibility of diplomatic breakthroughs, citing deep distrust and highlighting the complexities of US-Iran relations.
Markets face risk of a prolonged bear phase as oil shocks and geopolitical tensions test inflation, growth and investor confidence globally, points out Debashis Basu.
Iran on Monday formally rejected a US-proposed ceasefire deal amid the escalating conflict in West Asia, instead unveiling its own 10-point plan aimed at permanently ending the ongoing war, as reported by the Iranian state news agency Islamic Republic News Agency (IRNA).
The Indian rupee depreciated by 28 paise to settle at 93.44 against the US dollar, influenced by ongoing uncertainties surrounding West Asia peace negotiations, volatile crude oil prices, and the Reserve Bank of India's recent adjustments to non-deliverable forward market regulations.
Yousef Pezeshkian, the son of the Iranian President, has confirmed that Iran's Supreme Leader Mojtaba Khamenei is 'safe and sound'. This comes after certain reports claimed that he had been injured during the ongoing strikes by the United States and Israel, according to Al Jazeera.
Indian benchmark indices, Sensex and Nifty, experienced declines in early trade, primarily due to a surge in crude oil prices and a retreat in Wall Street, as investors reduced exposure to risk assets amidst geopolitical uncertainty. Track Sensex, Nifty on August 7, 2026.
The Ministry of External Affairs (MEA) has stated that India is closely monitoring developments in West Asia, addressing topics ranging from ceasefire efforts to maritime security and the safe return of Indian nationals. The MEA also addressed the UN Climate Change Conference and the delimitation bill.
Amidst escalating tensions in West Asia, Iran claims to have inflicted heavy casualties on US forces in Dubai, a claim vehemently denied by the US Central Command, raising concerns about regional stability.
Global energy markets saw a significant correction as oil prices nosedived following Iran's announcement that the Strait of Hormuz has been fully reopened, dismantling the 'war-risk' premium that had gripped the market.
In his resignation letter to US President Donald Trump, Kent called the conflict with Iran unjustified, contending that Washington, DC entered the war due primarily to pressure from Israel and its powerful American lobby rather than clear, direct threats to national security.
Addressing a media stakeout at the United Nations on Tuesday, Israel's envoy said the country's primary objective remained preventing Iran from acquiring nuclear capabilities.
The Iranian military on Thursday issued a strongly worded response to remarks made by United States President Donald Trump, warning that the ongoing conflict will persist until Washington, DC faces what it described as 'permanent humiliation, regret, and surrender', as reported by Iranian state media Press TV.
Iran has placed anti-personnel and anti-armour mines around the island, where US troops could potentially stage an amphibious landing.
The Israeli Air Force (IAF) said it struck several targets in Tehran, Shiraz and Ahvaz simultaneously over the past 24 hours, targeting sites linked to Iran's ballistic missile programme, air defence systems and military headquarters.
Islamabad's attempt to position itself as a mediator in the West Asia conflict has come to naught with the Iranian side refusing to meet any US-led delegation in Pakistan, reports the Wall Street Journal.
Indian benchmark indices Sensex and Nifty experienced a significant decline in early trade, with the Sensex falling over 500 points and the Nifty over 150 points, as Brent crude oil prices surged past USD 100 per barrel due to escalating geopolitical tensions in the West Asia. track sensex, Nifty on July 24.
In his first major national address since hostilities began, Trump said the ongoing military campaign, dubbed 'Operation Epic Fury', has delivered 'swift, decisive, overwhelming victories'.
In the video, the Supreme Leader can be seen teaching religious studies to a group of pupils who are listening attentively. The IRIB said that the video of Ayatollah Mojtaba Khamenei was published for the first time.
Aviation stocks experienced a significant surge following the announcement of a two-week ceasefire between the US and Iran, which led to a sharp decline in crude oil prices. This development has positively impacted stock markets and the broader economic outlook for India.
Formula One chief executive Stefano Domenicali announced that the sport will feature more sprint races in 2027 than the current six, while emphasising the importance of maintaining their 'scarcity value' to ensure commercial appeal.
The IRGC said the strikes were conducted in support of offensives by Hezbollah and residents of southern Lebanon, and described them as the beginning of a series of pre-announced operations against Israel.
Indian benchmark stock indices, Sensex and Nifty, closed nearly 1 per cent lower following the collapse of US-Iran negotiations, which heightened concerns of a prolonged conflict in West Asia and drove crude oil prices sharply higher.
It remains unclear whether United States President Donald Trump or Iranian authorities will pursue the offer.
A new report by Motilal Oswal Financial Services Ltd (MOFSL) indicates that inflation, interest rates, and monetary policy have become more significant drivers of gold prices than traditional geopolitical conflicts, with markets increasingly focusing on these economic factors.
Malaysia's Sepang circuit will host the rescheduled 'Gulf Air Bahrain Grand Prix in Malaysia' on October 4, Formula One announced, stepping in after the original April races in Bahrain and Saudi Arabia were cancelled due to the Iran war and Middle East situation.
Despite a ceasefire agreement between Iran and the United States, the Strait of Hormuz remains blocked due to Iran's inability to locate and remove all the mines it laid during the conflict, hindering global oil and gas supplies.
FIFA President Gianni Infantino says the 2026 World Cup will proceed as scheduled despite uncertainty over Iran's participation due to security and geopolitical tensions.
The Ministry of External Affairs (MEA) has facilitated the safe passage of over 1,700 Indian nationals from Iran through Armenia and Azerbaijan since the beginning of the West Asia conflict.
Taking Kharg would give the US control over virtually all of Iran's oil exports and thus provide significant leverage, notes Prem Panicker in his must read daily blog on the Gulf War. It would also put American troops within range of Iran's remaining missiles, drones, and artillery on a piece of real estate that is just eight square miles in size, and just 15 miles from the Iranian mainland.
A veteran White House reporter has revealed that the Clinton administration used a decoy aircraft during President Bill Clinton's high-risk visit to Pakistan in 2000, a security measure disclosed to journalists off-the-record due to the significant dangers involved.
Iran's men's national soccer team wore black armbands and held schoolbags as their anthem played ahead of a match in Turkey on Friday, in what a team official said was a protest over the killing of schoolgirls on the first day of the Iran war.
'I suspect that Bangladesh being given permission stuck in India's official craw, and this story was an attempt to balance the scales by giving the impression that a similar waiver had been given to India as well.'
Pezeshkian urged American citizens to look beyond 'manufactured narratives', claiming the portrayal of Iran as a threat is driven by the military-industrial complex and Israeli political interests.
Iranian news agencies have denied reports of Iranian officials travelling to Pakistan for negotiations with the United States, even as Pakistan prepares for potential talks and faces criticism from Israel.
In a statement issued by Iran's consulate in Mumbai, it said, "At present, Iran essentially has no floating crude or surplus available for international markets. The US Treasury Secretary's remarks appear aimed at reassuring buyers and managing market sentiment."
Iran has banned national and club sports teams from travelling to countries it considers hostile, citing concerns over the safety of its athletes.
US President Donald Trump and Israeli Prime Minister Benjamin Netanyahu are reportedly planning a White House meeting as early as next week, despite growing scepticism within Trump's inner circle regarding Netanyahu's actions and widening disagreements over regional security and Iran.
An India-bound container vessel, the 'Epaminondes', was seized by Iran's Islamic Revolutionary Guard Corps in the Strait of Hormuz, with an Indian merchant navy officer from Rajasthan among the crew, his family reported. The family has appealed to the Indian government for assistance in ensuring the safe return of the crew.
A second United States fifth-generation F-35 fighter jet was struck and downed over central Iran by a modern air-defence system of the Islamic Republic's Islamic Revolutionary Guard Corps (IRGC), with officials saying the pilot is unlikely to have ejected, Iranian state media reported on Friday.
