The Indian rupee saw a significant appreciation against the US dollar following President Trump's suspension of military strikes against Iran and the Reserve Bank of India's decision to maintain its key interest rate. Market sentiment was further buoyed by positive comments from the RBI regarding the health of the banking sector.
United States President Donald Trump warned Iran of potential strikes on its infrastructure, including bridges and electric power plants, saying the US military 'hasn't even started destroying what's left in Iran'.
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.
Indian stock markets tumbled sharply with the Sensex falling 800 points and nearly 4 lakh crore wiped out in a single session. Here are the 6 key factors, including rupee weakness and global cues, behind the crash.
At least eight civilians have been reported killed, and 95 others have sustained injuries following United States-Israeli strikes, Iranian state media Press TV reported.
Protests were held from coast to coast, with massive marches in major cities and smaller gatherings in suburban and rural areas across both traditionally Republican and Democratic states.
Iranian military spokesperson said that stability in the region would be ensured only by the strength of Iran's armed forces and warned that energy and oil markets would not return to previous levels unless this reality was acknowledged.
Specifically, military experts are assessing if the 'Octopus' interceptor anti-drone system, produced in the UK to support Ukraine in countering Russian threats, could be repurposed to strengthen British protections against Iran's Shahed drones.
Admiral Alireza Tangsiri was accused of leading efforts to disrupt maritime trade, including actions affecting the Strait of Hormuz.
The West Indies and South Africa cricket teams are scheduled to leave India after being stranded due to travel restrictions caused by the Middle East conflict following their T20 World Cup campaigns.
Iran has reportedly allowed select "friendly nations" including India and Pakistan limited access to the Strait of Hormuz amid ongoing conflict, easing some energy supply concerns. Here's what the move means for global trade and oil routes.
Amid escalating tensions, Iranian Deputy Foreign Minister Saeed Khatibzadeh declares Iran's unwavering commitment to a 'heroic nationalist defence' against perceived American and Israeli aggression, vowing to resist what he calls an 'invasion' to the very end.
UN Secretary-General Antonio Guterres has expressed deep concern over US President Donald Trump's warning to Iran and appealed for the re-establishment of freedom of navigation in the Strait of Hormuz.
The ECB cancelled the England Lions vs Pakistan Shaheens match in Abu Dhabi and postponed the England Women's training camp after US and Israeli strikes on Iran triggered missile fire across the Gulf and airspace closures.
Tensions between Washington, DC and Tehran have reached a boiling point, as a heavy barrage of aerial strikes was reported across multiple locations in Iran on Tuesday.
India is one of the few nations, and perhaps the only nation, that has good relations with America, Israel and Iran. Knowing that a war in the Gulf would damage our economy, hurt supply of fertilisers and fuel, and cause general chaos, we should have tried to ensure this war did not begin, asserts Aakar Patel.
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.
'Narendra Modi -- a man with deep and vital experience of Indian politics -- has seen the BJP lose many elections between 1975 and 2015, and with every defeat, he learned lessons that made sure he would never allow his party to be defeated so easily again.'
'Pakistan has pitched Islamabad as a possible venue for talks as early as this week involving senior figures from the Trump administration and Iran,' the Financial Times reported.
Prime Minister Narendra Modi will visit Israel to enhance defence and trade cooperation amid Middle East tensions. Discussions will include defence, security, and the situation in Gaza.
Amid rising tensions, Iran reportedly launched ballistic missiles toward a US-UK military base, prompting concerns about regional stability and the potential for escalating conflict in the Middle East.
According to an official Iranian military statement, Qader anti-ship cruise missiles were launched at the carrier, forcing it to alter its position in the region.
The diplomatic intervention follows various media reports which attributed comments to Iranian lawmaker Alaeddin Boroujerdi, suggesting that merchant vessels were being charged USD 2 million for safe passage through the "conflict-hit Hormuz."
Pakistan is set to host a quadrilateral summit of foreign ministers from Saudi Arabia, Egypt, and Turkiye to discuss the ongoing conflict in West Asia and explore avenues for peace negotiations.
Iraq's Kurdistan Regional Government (KRG) on Saturday confirmed a drone strike targeting the residence of Kurdistan Region President Nechirvan Barzani in Duhok amid escalating tensions in West Asia, triggering a sharp blame game between the United States and Iran.
Pakistan's Prime Minister Shehbaz Sharif has engaged in extensive diplomatic efforts to de-escalate the conflict in West Asia, offering to host talks between the US and Iran and engaging with leaders from Saudi Arabia, Qatar, Malaysia, the UK, China, and the European Union.
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.
After the United States and Iran agreed to a two-week ceasefire and expressed hope for lasting peace, Pakistan took much of the credit for playing mediator between the two countries. However, Jonathan Schanzer, Executive Director at the Foundation for Defence of Democracies and former US Treasury counterterrorism analyst, said Pakistan is deeply indebted to China.
For India, much is at stake: Crucial energy supplies traversing the Strait of Hormuz, the fate of its 10 million citizens living and working in West Asia -- who send generous remittances home -- and its major trade links with the region.
A new analysis by the Institute for the Study of War has warned that Iran could escalate its attacks on Israel by launching large missile salvos aimed at maximising psychological pressure on civilians.
The Indian government has refuted claims of fuel shortages, asserting that the country possesses approximately 60 days of fuel stock cover and that all petrol pumps are adequately stocked and operating normally.
Saudi Arabia and the UAE are actively pushing Trump to take the war to its bitter finish and 'erase' Iran's presence in the geopolitics of the region. Simply put, the two most powerful Sunni Arab oligarchies are on the same page as Israel. Such interference increases the risk of a breakdown in dialogue between the US and Iran, points out Ambassador M K Bhadrakumar.
The broader conflict in West Asia, the largest international market for Indian carriers, has forced a sharp reduction in daily flights relative to the summer schedule.
'Every day the meter is ticking. Like a time bomb.' Shipping giants are billing Indian exporters up to $3,000 per container in war surcharges -- on cargo that sailed before the war began -- as the Strait of Hormuz shuts down.
Wipro, India's fourth-largest IT services company, has secured an eight-year deal with Singapore-based Olam group, valued at over $1 billion, and will also acquire Olam's IT and digital services arm, Mindsprint, for $375 million, marking one of its largest contracts to date.
The IRGC accused US and Israeli forces of using civilians as 'human shields' and warned of continued attacks.
Trump has said he would be present at the signing ceremony in Islamabad. Don't be surprised if the Pakistani hosts make it a grand event in the geopolitics of the region. Trump would love that, notes Ambassador M K Bhadrakumar.
Crude oil prices experienced a sharp decline after US President Donald Trump announced a temporary halt to military strikes on Iran's energy infrastructure, easing geopolitical tensions and supply disruption fears.
Iran's Ambassador to Pakistan, Reza Amiri Moghadam, has said there are no ongoing talks between Tehran and Washington, DC, countering United States President Donald Trump's claims of peace overtures.
Calling such reports baseless, Finance Minister Nirmala Sitharaman said there was no such move under consideration.
