A high-stakes memorandum for a 60-day ceasefire between the United States and Iran is in its final stages, with negotiators working to close remaining gaps and avert further escalation in the region, including reopening of the Strait of Hormuz and the resumption of Iranian oil sales, according to an Axios report citing US officials.
US President Donald Trump and Israeli Prime Minister Benjamin Netanyahu had a tense phone call over the future course of the war on Iran, with Washington favouring a deal instead of resuming strikes, according to US media reports.
Indian benchmark indices Sensex and Nifty experienced a significant slump in early trade, mirroring weak global trends, as escalating tensions in West Asia, particularly a drone attack on the UAE's Barakah nuclear facility, pushed crude oil prices higher. Track Sensex, Nifty50 movement and key market drivers for May 18, 2026.
The BRICS foreign ministers' meeting in New Delhi concluded without a joint statement due to disagreements over the West Asia conflict, with Iran blaming the UAE for the lack of consensus. India, as the host, issued a chair's statement highlighting the differing views.
Iranian Deputy Foreign Minister Kazem Gharibabadi has urged India to take the lead in bringing peace to West Asia, highlighting the UAE's role in stalling BRICS consensus on the conflict. Gharibabadi also discussed a new framework with Oman for merchant vessels passing through the Strait of Hormuz.
Five Indian boxers have advanced to the semifinals of the Asian U17 Boxing Championships in Tashkent, showcasing their dominance with impressive wins in their respective quarterfinal matches.
Nitin Menon remains the only Indian in the ICC Elite Panel of Umpires after the governing body named an unchanged team of match officials for the 2026-27 international season following its annual review.
The United States and Iran could be set to announce an agreement soon to achieve a complete solution to the hostilities in West Asia, as reported by Saudi state media Al Arabiya on Wednesday, citing sources familiar with the ongoing negotiations.
Customs officials at Mumbai's Chhatrapati Shivaji Maharaj International Airport seized electronic items, cosmetics, cigarettes, and crude gold worth over Rs 1.79 crore from passengers arriving from Dubai, leading to one arrest.
Head of the Iranian Parliament's National Security Committee Ebrahim Azizi on Saturday said that Iran has prepared a "professional mechanism" to regulate maritime traffic in the Strait of Hormuz through a designated route, which will be unveiled soon.
The Enforcement Directorate (ED) has identified a Grenadian man based in Dubai as the 'beneficial owner' of a Delhi-based company involved in a large-scale betting, gaming, and cyber fraud-linked money-laundering operation in India.
Kai Havertz's first-half header earned Arsenal a tense 1-0 win over Burnley, moving Mikel Arteta's side within touching distance of their first Premier League title in 22 years.
US Secretary of State Marco Rubio said that discussions aimed at halting the conflict with Iran have shown "some slight progress," while simultaneously echoing Washington's dissatisfaction with its NATO allies.
With less than a month to go, football fans have all fingers -- and toes -- crossed, notes Kanika Datta.
Sharp differences between Iran and the UAE over the West Asia conflict were on full display during the BRICS foreign ministers' meeting in New Delhi, signalling the challenges the bloc faces in reaching a consensus position on the crisis.
The CBI has successfully extradited Mohammad Navas Kakkat Ismail from the UAE, who was wanted by Delhi Police in connection with an extortion case.
Prime Minister Narendra Modi has strongly condemned the attacks on the United Arab Emirates' port city of Fujairah, which resulted in injuries to three Indian nationals, and reiterated India's support for peaceful resolution through dialogue.
The India U-17 football team will play two friendly matches against the United Arab Emirates U-17 side in Thailand this month as part of their preparations for the AFC U-17 Asian Cup Saudi Arabia 2026.
Three Indian nationals were injured in a drone attack on the Fujairah Petroleum Industries Zone (FOIZ) in the UAE. The UAE has condemned the attack, attributing it to Iran.
An Indian national sustained injuries from shrapnel after a drone was intercepted by the UAE's air defence system. This incident follows similar events involving injuries and fatalities to Indian nationals in the region due to intercepted missiles and drones.
Prime Minister Narendra Modi has offered India's support to bring peace to West Asia during talks with UAE President Sheikh Mohamed bin Zayed Al Nahyan. Both countries signed agreements to strengthen strategic collaborations in energy and defence.
Iranian Foreign Minister Abbas Araghchi is in India for a BRICS foreign ministers' meeting, where discussions will focus on the escalating crisis in West Asia and its impact on global energy supply chains.
An Emirates flight en route to Dubai from Kochi was compelled to return due to a security incident at Dubai International Airport, causing travel disruptions and raising security concerns.
The rupee weakened to a record low against the US dollar due to Gulf tensions, rising oil prices, and foreign capital outflows.
India's mergers and acquisitions (M&A) market is projected to maintain an annual run-rate of approximately $200 billion, evenly split between domestic, inbound, and outbound transactions, despite global geopolitical turbulence, according to Rajesh Singhi, global co-head, M&A Advisory, Standard Chartered Bank.
Prime Minister Narendra Modi has begun a six-day tour of the UAE, the Netherlands, Sweden, Norway and Italy to strengthen bilateral relations amid geopolitical challenges. The trip will focus on energy security, trade, and technological cooperation.
The rupee recovered to 95.18 against the US dollar after hitting an all-time intra-day low of 95.44. The recovery was supported by possible RBI intervention amid renewed Gulf tensions and rising crude oil prices.
New York City Mayor Zohran Mamdani said he would encourage King Charles III to return the Koh-i-Noor diamond.
'Historically, India has depended on the Middle Eastern Gulf for nearly 90 per cent of its LPG imports. Shifting to alternative suppliers is not something that can happen quickly.'
New York City Mayor Zohran Mamdani has called on King Charles III to return the Koh-i-Noor diamond, a contentious issue between India and the UK.
New York City Mayor Zohran Mamdani has called on King Charles III to return the Koh-i-Noor diamond, a contentious issue between India and the UK.
Prime Minister Narendra Modi will visit the UAE, the Netherlands, Sweden, Norway and Italy to deepen India's bilateral ties amid geopolitical changes.
India has expressed serious concerns about the West Asia crisis and its potential impact on energy supplies and maritime stability, urging BRICS nations to find practical solutions to geopolitical challenges and unilateral sanctions.
Israel and the United Arab Emirates both sounded missile alerts early Wednesday, despite Iran and the United States saying they had reached a two-week ceasefire in the war.
Arsenal secured a 1-0 victory over Atletico Madrid, winning 2-1 on aggregate, to reach the Champions League final for the second time in their history. Bukayo Saka's goal proved decisive in a tense semi-final clash.
Economist Jeffrey Sachs saw Gulf nations' decision to partner with the US through the Abraham Accords as an "invitation for disaster" as it made them more dependent on American protection.
Pakistan's skewed foreign reserves got a major boost after Saudi Arabia pledged an additional $3 billion in deposits while extending its existing $5 billion facility for a further three years.
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.
Indian refiners are recalibrating their crude sourcing strategy due to supply disruptions in West Asia, leading to Venezuela and Brazil emerging as top five suppliers in April, replacing traditional sources like Iraq and the United States.
Ongoing geopolitical tensions in West Asia have slowed deal momentum in Dubai's luxury residential market, but Indian high-net-worth individuals (HNIs) are not exiting their marquee assets, with any 'discounted' resale deals attributed to investor liquidity stress rather than geopolitical flight.
