The Indian government has imposed a new windfall gains tax of Rs 3 per litre on petrol exports, while simultaneously reducing the levy on diesel to Rs 16.5 per litre and aviation turbine fuel (ATF) to Rs 16 per litre, effective May 16.
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.
This threat comes as the assembly of experts in Iran has reportedly reached a majority consensus regarding the successor to the late Supreme Leader Ayatollah Ali Khamenei, according to the Tehran-based Mehr News Agency (MNA).
Families in Ambari village are anxiously awaiting news of their relatives stranded in Iran amid escalating conflict, with limited communication and growing concerns for their safety.
Prime Minister Narendra Modi addresses the Rajya Sabha, detailing India's strategies to navigate the global energy crisis sparked by the West Asia conflict, including securing diverse energy sources and expanding strategic oil reserves.
The Iran conflict led to a sharp correction in Reliance Industries Ltd's (RIL's) share price, which has been partially reversed by a rebound.
A group of Indian sailors recount their harrowing experience of being detained in Iran on suspicion of smuggling, and their subsequent escape from the country as regional tensions escalated into open conflict.
What we are watching is something different: A fog manufactured and maintained by the people who started the war, so that the question of why it was started never has to be answered, observes Prem Panicker in his must read blog on the war in the Middle East.
External Affairs Minister S Jaishankar discussed the West Asia conflict and its impact on energy supplies with his Russian counterpart Sergey Lavrov and EU's Foreign Policy chief Kaja Kallas.
When everyone has footage and no one can verify it, the loudest voice wins, notes Prem Panicker who begins a daily blog on the War in the Middle East.
Amidst escalating tensions in West Asia, Russian President Vladimir Putin is actively calling for de-escalation and political resolution, engaging with Iranian and US counterparts to navigate the complex conflict landscape.
External Affairs Minister S Jaishankar addressed the Rajya Sabha on India's position regarding the escalating conflict in West Asia, emphasising the need for peace, dialogue, and the safety of civilians, while also prioritising India's energy security and trade interests.
Uncertainties stemming from the West Asia crisis and its potential impact on inflation and economic growth were key factors in the Reserve Bank of India's Monetary Policy Committee (MPC) decision to maintain the status quo on interest rates, according to the recently released MPC meeting minutes.
A new report from the Stockholm International Peace Research Institute (SIPRI) indicates that India has expanded its nuclear arsenal and is developing long-range weapons capable of reaching targets across China, while also maintaining focus on its rivalry with Pakistan.
Indian stock markets experienced a significant sell-off, with the Sensex tumbling over 1,300 points, driven by escalating crude oil prices due to US-Iran tensions and Prime Minister Narendra Modi's call for austerity measures, which amplified investor concerns about India's economic outlook.
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.
India's foreign exchange reserves decreased by USD 11.413 billion to USD 698.346 billion during the week ending March 20, primarily due to a significant reduction in gold reserves, according to the Reserve Bank of India (RBI).
'You have seen the retrenchments by big corporates in the IT industry because they are not getting enough offers.' 'MSMEs in the manufacturing sector are really struggling. They do not know what to do. They are not able to predict what will happen tomorrow.'
US President Donald Trump will visit China from May 13 to 15 at the invitation of President Xi Jinping. The visit occurs amidst global tensions, including the war in West Asia and trade disputes between the US and China. Discussions are expected to cover China-US relations, world peace, and economic issues.
A vessel carrying 20,000 metric tonnes of Liquefied Petroleum Gas (LPG) arrived at Deendayal Port Authority in Kandla, Gujarat, after crossing the Strait of Hormuz amid the West Asia crisis.
Benchmark indices tumbled about 2 per cent on Friday, capping one of the most turbulent weeks for domestic equities as investors fretted that the West Asian conflict could drag on for weeks or even months.
Indian eateries are adapting to the LPG crisis by cutting menus, increasing prices, and switching to alternative fuels like coal, as LPG supplies are disrupted due to global events. State authorities are cracking down on hoarding and black marketing of LPG cylinders.
Kerala Chief Minister Pinarayi Vijayan held an online meeting with Loka Kerala Sabha members in the Gulf region to discuss support for the expatriate community amidst the escalating conflict in West Asia.
The ministry of external affairs on Monday said that a joint statement could not be issued following the BRICS deputy foreign ministers and special envoys on the Middle East and North Africa (MENA) meeting, which took place on April 24 in the national capital, as member countries were unable to reach a general consensus concerning the conflict in West Asia.
While Trump has been examining the possibility of stationing ground forces in the Middle East, CBS News reported that he has yet to define the exact conditions under which he would approve their use.
Shiromani Akali Dal president Sukhbir Singh Badal and Punjab Vidhan Sabha Speaker Kultar Singh Sandhwan have appealed to Prime Minister Narendra Modi to take urgent steps for the evacuation of Indian citizens stuck in countries affected by the recent joint Israel-US attack on Iran.
The limited-overs series between Afghanistan and Sri Lanka scheduled for March in the United Arab Emirates has been postponed due to the ongoing crisis in the Middle East.
The Pakistan Super League (PSL) has introduced a new rule allowing captains to submit two team sheets before the toss to mitigate the impact of dew in day/night matches. This change aims to ensure fairer competition, particularly in Lahore and Karachi, where dew is a significant factor.
'When we start describing somebody as an enemy that is the start of politics and emotion after which no business can take place.' 'We need to get out of this, allow Indian businessmen to do business with China.'
'The real money in India over the coming period is likely to be made in small-cap stocks rather than in the large-cap benchmark names.'
"The world might face a food crisis if the war continued till the end of April, as it could have a dramatic impact on planting in Europe and North America," said Matt Simpson, CEO of Brazil Potash.
24 Indian-flagged vessels with 677 Indian seafarers were currently located west of the Strait of Hormuz, and four vessels with 101 Indian seafarers were stationed east of the strategic waterway.
The Indian government has increased import duties on gold and silver from 6 per cent to 15 per cent to curb inbound shipments of precious metals amid a rising import bill due to the West Asia crisis.
The United States has temporarily lifted sanctions on the sale of Iranian oil already in transit to ease soaring global crude prices, making 140 million barrels available to the market.
With Gulf countries emerging as popular destinations for Indian weddings and pre-wedding shoots, the March-April season had seen a flurry of bookings.
...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.
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 airlines are expected to cancel 444 international flights due to airspace restrictions in the Middle East following attacks on Iran by Israel and the US. The civil aviation ministry is closely monitoring the situation and coordinating with airlines to ensure passenger safety and minimize disruptions.
The escalating conflict involving the U.S. and Israel with Iran has led to widespread disruption in the world of sports, with events postponed, travel plans thrown into chaos, and athletes seeking asylum.
Pakistan's Foreign Minister Ishaq Dar has called for dialogue to address the ongoing conflict in West Asia, emphasising the importance of diplomatic engagement and sustained efforts to promote peace and stability in the region.
