Iran was the chance to arrange a concert of nations, to actually be a Vishwaguru. Instead, we are watching from the sidelines as Pakistan, the same country that is apparently still at war with Afghanistan, hosts talks between US-Israel and Iran. The irony is hard to miss, points out Amberish K Diwanji.
Iran has reimposed restrictions on the Strait of Hormuz, with its forces opening fire on a passing tanker and forcing at least two Indian vessels to reverse course, escalating tensions in the region and raising concerns over energy supplies.
The Indian rupee depreciated 16 paise to settle at a fresh lifetime low of 96.86 against the US dollar, marking its ninth consecutive session of decline, driven by elevated global crude prices and a strong dollar.
Indian equity markets experienced a significant decline in early trade, with the BSE Sensex and NSE Nifty dropping, as escalating geopolitical tensions in West Asia and a surge in global oil prices dampened investor sentiment. Track Sensex, Nifty50 movement and key market drivers for May 8, 2026.
'We are profoundly energy-dependent on the Gulf. That dependency must now be redirected towards the United States, because we require American permission to procure oil.' 'We additionally require Iranian permission to acquire oil from that source. So India now has to seek two separate permissions merely to secure its energy supply.' 'Should we be compelled to source from America, or from Venezuela -- which is, in effect, American-controlled supply -- that will inevitably carry a price premium, an elevated shipping cost, and a considerably extended delivery timeline, given the distances involved.'
A Pakistani man with ties to Iran has been convicted in a US court for plotting to assassinate former US President Donald Trump and other American politicians.
India's exports recorded a 13.78 per cent increase to USD 43.56 billion in April, marking the highest monthly outbound shipments in over four years, primarily driven by petroleum products. However, the trade deficit widened to a three-month high of USD 28.38 billion due to a 10 per cent rise in imports.
A Pakistani delegation, led by Army Chief Field Marshal Asim Munir, has arrived in Tehran to mediate the ongoing conflict between the US and Iran, following initial talks in Islamabad.
...is a way out, notes Prem Panicker in his must read blog on the Iran War. What the indefinite extension produces is a prolonged condition of not-war-not-peace, in which oil markets cannot stabilise, Asian refineries cannot plan, European governments cannot stop subsidising consumption they cannot afford, and the next flashpoint -- a seized tanker, a miscalculated drone strike, a Truth Social post that claims too much -- is one news cycle away.
Is the current rally telegraphing a durable peace plan in West Asia, boosted by United States (US) President Donald Trump's incoherent and contradictory posts on social media?
An art exhibition in New Delhi showcased drawings by children killed in a school bombing in Iran, offering a poignant reminder of the human cost of conflict.
White House Press Secretary Karoline Leavitt noted that progress has been made in the Geneva talks with Iranian authorities, but the two nations stand 'far apart' on certain issues.
Indian equity markets, including the Sensex and Nifty, experienced a significant downturn for the second consecutive day, driven by escalating geopolitical tensions in West Asia and persistent foreign fund outflows.
'The situation globally is quite challenging, but we have the confidence and courage of conviction that we will come out winners even in this challenging time.'
Petrol price has been increased by 87 paise in Delhi from Rs 98.64 to Rs 99.51 per litre. Diesel rates have gone up by 91 paise from Rs 91.58 to Rs 92.49.
The Indian rupee rebounded 50 paise from its all-time closing low to settle at 96.36 against the US dollar, driven by retreating crude oil prices, signs of easing geopolitical friction, and likely central bank intervention.
India's U-17 girls boxers began their campaign at the Asian Boxing U17 Championships 2026 with five victories. In the boys' category, Neela Narendra Kumar also won his bout.
Indian equities on Dalal Street saw volatility as global market trends and oil price hike impacted investor sentiment. Track Sensex, Nifty50 movement and key market drivers for Apr 23, 2026.
US President Donald Trump and Chinese President Xi Jinping began a crucial two-day summit in Beijing on Thursday, with both leaders signalling a desire to stabilise relations between the world's two biggest economies despite deep disagreements on trade, Taiwan, technology and security issues.
Occasionally, the silence of the night shift would be shattered by an ear-splitting alarm: 'ALERT, ALERT... This is a security warning.' We were drilled to move away from the windows and avoid the lifts, recalls Krishna Kumar NP, a veteran Dubai-based journalist.
The United States has clarified that its naval blockade in West Asia targets Iranian ports and coastline, not the Strait of Hormuz, applying to all ships regardless of nationality. US officials warned Iran against threatening commercial ships and hinted at ceasefire negotiations as an alternative.
India will continue to purchase Russian oil based on commercial viability and energy security needs, irrespective of US sanctions waivers, according to a senior petroleum ministry official.
Indian benchmark indices, Sensex and Nifty, closed marginally higher after a volatile trading session, driven by value buying in IT and select blue-chip counters, despite global crude price hikes and a weak rupee.
Indian Grandmaster Koneru Humpy has withdrawn from the FIDE Women's Candidates Tournament, citing concerns over her personal safety amidst the West Asia conflict.
Over the past two decades, India has witnessed several major petrol price hikes, driven by global crude oil fluctuations, economic crises, currency depreciation and geopolitical conflicts. How did we get from Rs 34 to over Rs 100 today
The closure of the Strait of Hormuz has disrupted some 20 per cent of the global flows but even if it opens, damages to production facilities in the region will take time to repair, points out Sunita Narain.
'Once the currency goes out of the hand, then possibly your major challenge is that it will not come back.'
Gold prices surged in futures trading due to escalating US-Iran tensions, driving demand for the safe-haven asset.
India's football faces a setback as it receives only one play-off slot for the 2027-28 AFC Challenge League, the third tier of Asia's club structure, due to administrative issues and declining performance.
Indian stock markets are poised for volatility this week, driven primarily by the outcomes of five state assembly elections, ongoing high crude oil prices amid West Asia tensions, and the release of Q4 corporate earnings, according to market analysts.
India has seized three US-sanctioned oil tankers linked to Iran and increased surveillance in its maritime zone to curb illicit trade.
The Quad grouping has expanded cooperation in critical minerals and energy, while unveiling new measures to boost maritime surveillance and port infrastructure across the Indo-Pacific. This move comes against the backdrop of China's growing military posturing in the region, with ministers reiterating strong opposition to destabilising actions and expressing serious concerns over militarisation of disputed features.
The 2026 Asian Senior Weightlifting Championships, featuring athletes from 30 countries, will be held in Gandhinagar from May 11 to 17. The event serves as a qualifier for the 2026 Commonwealth Games.
India emerged reasonably well from 2025. But now, the oil shock and war-related supply disruptions have again driven funds out of India and significantly weakened the rupee, points out Ajay Chhibber.
India summoned the Iranian envoy after two Indian vessels had to reverse course in the Strait of Hormuz following an incident of firing by Iran's Revolutionary Guards.
Delhi must now purge the delusional hopes of being a 'counterweight' to China in the US calculus, argues Ambassador M K Bhadrakumar.
An Iranian tanker successfully bypassed the US Navy to deliver crude oil to the Asia-Pacific region, despite ongoing tensions and a US blockade.
The Beijing summit may have reduced immediate diplomatic uncertainty, but it did not resolve the deeper structural contest between the United States and China. That contest appears likely to define the coming decade, notes Varun Arya.
The United States has announced it will not renew sanctions exemptions for the purchase of Russian and Iranian oil, ending a 30-day waiver that allowed some countries, including India, to continue importing Russian oil despite sanctions related to the Ukraine war.
Donald Trump agreed with Xi Jinping's assessment of the US as a 'declining nation,' but attributed the decline to the policies of the Biden administration.
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