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.
India's privatisation push, once projected as a cornerstone of economic reform, has suffered another setback, with the Centre set to call off the IDBI Bank stake sale, highlighting the political and structural constraints shaping the country's disinvestment policy, experts say.
In a strategic move to boost offshore energy exploration and operational efficiency, Oil and Natural Gas Corporation Ltd (ONGC) and Reliance Industries Ltd have signed an agreement to share resources such as supply vessels used in finding and producing oil and gas.
Defence Minister Rajnath Singh praised the Indian Coast Guard's role during Operation Sindoor and highlighted its importance in national security on the occasion of its 50th Raising Day.
Of the 22 crew members on board the ship, MV Wan Hai 503, 18 have abandoned the vessel and are being rescued by Indian Navy and Coast Guard assets, he said.
The European Union (EU) has suspended export benefits to sectors such as textiles and plastics under a preferential scheme for India and two other countries from January 1, a move that will impact the country's shipment to the 27-nation bloc. The development is important as the two sides are likely to announce the closure of negotiations for a free tarde agreement (FTA) on January 27.
Pakistan has banned Indian-flagged ships from entering its ports with immediate effect after India imposed fresh punitive measures, including a ban on the import of goods and entry of Pakistani vessels into its ports, against Islamabad amid heightened tensions following the Pahalgam terror attack. The move comes after India announced a raft of punitive measures against Pakistan, including the suspension of the Indus Waters Treaty, shutting down of the only operational land border crossing at Attari, and downgrading of diplomatic ties following the terror attack. The Pakistan Army has also conducted a successful training launch of the Abdali Weapon System, a surface-to-surface missile with a range of 450 km, saying it was aimed at ensuring the operational readiness of troops and validating key technical parameters. India considers the test launch of the ballistic missile a "blatant" act of "provocation."
Mexico on Thursday imposed a tariff of up to 50 per cent on imports from its non-preferential trade partners, including India, a move that might hit New Delhi's annual $5.75 billion shipments to its third-largest car export market.
A Liberian cargo ship carrying 640 containers, including 13 hazardous cargoes, has sunk off the coast of Kerala, raising concerns of environmental damage. The ship, MSC ELSA 3, capsized and sank in the early hours of May 25 after listing rapidly. The three remaining crew members were rescued by the Indian Navy. The Indian Coast Guard is monitoring the situation for any oil spills and has positioned a ship with pollution response equipment at the scene. The ship was carrying 84.44 MT of diesel and 367.1 MT of furnace oil, in addition to the hazardous cargo. The Kerala State Disaster Management Authority has cautioned the public against touching any cargo containers or oil spills that may wash ashore.
Incidents in the maritime sector involving Indian seafarers, and foreign vessels in Indian waters rose by 21.6 per cent in 2024 to 186, highlighting the need to strengthen safety frameworks.
Chinese Foreign Minister Wang Yi stated that China mediated tensions between India and Pakistan, a claim disputed by India which maintains that the matter was resolved bilaterally.
Containers from a Liberian cargo ship that sank off the Kerala coast have started washing ashore, prompting authorities to urge the public to stay away from them. The ship carried 13 hazardous cargos, including calcium carbide, which reacts with seawater to release highly flammable acetylene gas. The Indian Coast Guard is leading pollution response efforts and monitoring the spread of the oil slick.
Sri Lanka is facing a severe crisis after Cyclone Ditwah caused widespread flooding and landslides, resulting in numerous deaths and displacement. India has launched 'Operation Sagar Bandhu' to provide relief. The situation is expected to remain critical with rising river levels and continued rainfall.
'Only four or five original companies remain; the rest have been replaced every decade as sectors evolve or leadership shifts.' 'Companies that fail to adapt -- like many textile mills from the 1970s and shipping firms from the 1980s -- disappear.' 'Benchmark indices reward those who reinvent themselves in line with economic demands.'
The US has sanctioned an Indian national based in the United Arab Emirates and two India-based entities for operating as part of Iran's shadow fleet and involved in shipping Iranian oil. The US Department of the Treasury said Jugwinder Singh Brar, who owns multiple shipping companies, operates as part of Iran's shadow fleet, which the US said is used to evade sanctions and transport Iranian oil. Brar also owns or controls India-based shipping company Global Tankers Private Limited and petrochemical sales company B and P Solutions Private Limited. The sanctions come as part of a US campaign of maximum pressure on Iran and target the country's petroleum and petrochemical sectors.
JSW Steel Ltd (JSTL) has announced a restructuring that unlocks value from Bhushan Power & Steel Ltd (BPSL) and changes the balance-sheet. JSTL will do a slump sale of 50 per cent stake in BPSL to Japan's JFE Steel in two equal tranches, totalling Rs 15,700 crore in cash.
According to a situation report issued by the DGS, the oil containment measures have temporarily stabilised the situation, but full risk mitigation will happen only on successful commencement of saturation diving to extract the remaining trapped fuel oil from the vessel, MSC Elsa 3.
So far, most of the injured have been released. Currently, 106 people are being treated in hospitals, and another 149 are being treated in the emergency room.
The lawsuit has compensatory and punitive damages against the defendants for the wrongful deaths of four passengers on flight 171, US-based law firm The Lanier Law Firm said in a statement.
Terming as "unfortunate" the killing of two Indian fishermen by gun shots from an Italian ship, Shipping Minister G K Vasan on Saturday said appropriate punishment should be given to the guilty.
Indian Navy's carrier battle group, submarines and aviation assets were immediately deployed at sea with full combat readiness in the aftermath of the Pahalgam terror attack, a top Navy official said on Sunday.
The Kerala State Pollution Control Board (KPCB) is on high alert after a Liberian vessel carrying hazardous cargo sank off the Kerala coast. While no calcium carbide containers have washed ashore yet, a thin layer of oil spill has been detected. The KPCB is working to contain the spill and prevent it from reaching the shore, but rough conditions at sea have hampered efforts to spray dispersants. The board is also taking steps to prevent the oil from reaching the Ashtamudi and Vembanad lakes.
The Iran-Israel conflict has further increased global economic uncertainties, impacting world trade, including India's exports, as it is expected to drive up both air and sea freight rates, exporters say. They said that India's exports to Europe and counters like Russia may get impacted due to this war.
The United States announced a 25 per cent tariff on India as the White House released an expansive list of duties that Washington, DC will impose on exports from countries around the world.
During Operation Sindoor, Indian naval ships, submarines and aircraft were operationally ready and deployed, projecting strength and preparedness to deter any "potential actions from our western adversary" in the maritime domain, Navy chief Admiral Dinesh K Tripathi said on Friday.
He had taken charge as the 25th director general of the Indian Coast Guard on July 19 last year.
American sourcing firms and exporters in China are approaching Indian companies to supply goods to the US as high tariffs imposed by Washington are making it difficult for them to ship directly to America, apex exporters' body FIEO said on Monday. The US has imposed 145 per cent tariffs on Chinese goods entering the American market. For India, the duty is just 10 per cent.
Observing that prima facie the Director General Shipping acted outside the jurisdiction while imposing ban on the ships insured by a Romanian firm, Bombay high court on Thursday asked why no action was taken against the owner of M V Rak, which sank off Mumbai last year.
Metreweli, 47, has been promoted from current role as Director General, or 'Q', responsible for technology and innovation in MI6 and has previously held a director-level role at MI5 - the UK's domestic security service.
Pakistan military spokesperson Lieutenant General Ahmad Sharif Chaudhry told a hurriedly called press conference in Islamabad at around 4 am that th Pakistan air force's Nur Khan (Chaklala, Rawalpindi), Murid (Chakwal) and Rafiqui (Shorkot in Jhang district) airbases were targeted.
'We have to be prepared for the larger disruption that is likely to take place.'
The Indian Coast Guard (ICG) Ship 'Sajag' was commissioned by National Security Advisor Ajit Doval.
'At Keeladi, we have not come across any evidence for organised religion.'
The government has set up an inter-ministerial group to monitor a possible surge in imports from countries like China, Vietnam and Thailand, fearing a surge in inbound shipments following the imposition of high reciprocal tariffs by the US on these countries, sources said. The product categories that may see an upsurge in diversion of imports from the US to India include consumer goods, electronics, chemicals and steel.
Concerned over the fallout of the Red Sea crisis and severe shortage of containers against the backdrop of a steep decline in merchandise exports in August, the Union government is pulling out all the stops to find a solution. To begin with, the government has devised a strategy aimed at boosting container supply and supporting exporters.
Astronauts Sunita Williams and Butch Wilmore, who returned to Earth after spending 286 days in space, will not receive any overtime for their extended stay, despite their spacecraft malfunctioning. NASA rules state astronauts are treated like "any other government employee who takes a business trip." They do receive a $5 per day allowance for "incidentals", which are typically fees and tips for services like porters and hotel staff.
'If attacks escalate, there is a risk the Suez Canal may be closed.'
Once Sagarmala and golden quadrilateral reach the take-off stage, India could be a big force. I feel that the buoyancy is here to stay, says G S Sahni, director general of shipping.
Exporters on Thursday sought a fund of Rs 750 crore for three years to tap USD 25 billion export potential in the US, aiming to seize potential opportunities that may arise as the US President-elect, Donald Trump, has threatened to impose high tariffs on Chinese goods. In its pre-Budget meeting with the finance ministry, Federation of Indian Export Organisations (FIEO) President Ashwani Kumar has also demanded extension of the five per cent Interest Equalisation Scheme (IES).
India has asked Jordan to provide it with details of the Indian crew members who are on board the hijacked ship MV Victoria because the ship's operators are not cooperating. "The ship managers in Sharjah have been repeatedly requested to provide the contact details of the 10 Indian seafarers on board the MV Victoria, but no response has been received so far," the Directorate General of Shipping said in a statement on Friday.
