The United States and Iran, with regional mediators, are reportedly discussing a potential 45-day ceasefire to prevent further escalation of conflict, including strikes on Iranian infrastructure and retaliation against Gulf states' facilities.
The Indian rupee weakened against the US dollar due to geopolitical tensions surrounding the Strait of Hormuz and ahead of the Reserve Bank of India's monetary policy review.
Indian benchmark indices Sensex and Nifty experienced declines due to a sharp rally in crude oil prices, continuous foreign fund outflows, and geopolitical uncertainties. Regulatory developments in the banking sector, particularly the implementation of the Expected Credit Loss (ECL) framework, also contributed to the selling pressure.
According to sources, the Indian Navy warships are on standby to provide assistance or help required by merchant vessels.
Iran on Monday formally rejected a US-proposed ceasefire deal amid the escalating conflict in West Asia, instead unveiling its own 10-point plan aimed at permanently ending the ongoing war, as reported by the Iranian state news agency Islamic Republic News Agency (IRNA).
Iranian President Masoud Pezeshkian has confirmed Tehran's participation in Pakistan-facilitated peace talks with the US in Islamabad, according to Prime Minister Shehbaz Sharif. This development follows a conditional ceasefire agreement and aims to address regional tensions.
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.
A social media post by Shehbaz Sharif has triggered widespread debate after an apparent 'draft' message was mistakenly published on X and later edited.
A spokesperson said the government is carefully assessing these communications in the context of the ongoing regional crisis.
The rupee weakened to a record low against the US dollar due to Gulf tensions, rising oil prices, and foreign capital outflows.
Trump also brushed off criticism of his expletive-laden references to causing destruction in Iran if they failed to make a deal to end the war.
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.
Iranian Foreign Minister Abbas Araghchi said his trip to Islamabad was "very productive" and involved "good consultations" with Pakistan's top leadership amid uncertainty over the second round of peace talks to resolve the war in West Asia.
The Israel-Iran conflict has entered a 'decisive phase' after the United States bombed three major Iranian nuclear sites Sunday morning, feel strategic affairs experts with some of them arguing it was Washington, DC's 'responsibility' to not get involved in the military standoff.
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.
US President Donald Trump has shared an article suggesting that the option of enforcing a naval blockade was available in the context of Iran, as peace talks ended in a stalemate in Islamabad after differences of opinion arose between the two parties on the Strait of Hormuz and Iran's nuclear capacities.
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.
Indian equity benchmarks, Sensex and Nifty, ended lower after a spectacular rally, with the Sensex tumbling 931 points, as renewed tensions in West Asia, particularly the risk to the ceasefire deal after Iran closed the Strait of Hormuz, dampened investor optimism.
US President Donald Trump indicated the possibility of further military operations against Iran's Kharg Island, a key oil export hub, claiming previous strikes had significantly damaged its infrastructure.
US President Donald Trump on Monday doubled down on his hardline stance against Tehran while dismissing mainstream media narratives regarding his foreign policy motivations.
US President Donald Trump stated he would not set a deadline for ending the conflict with Iran, claiming Iran's military capabilities have been severely weakened. He also said he would not use nuclear weapons and maintained the US has complete control over blockade measures against Iran.
US Vice President JD Vance is set to arrive in Islamabad on Monday evening to lead a high-level American delegation in a second round of ceasefire negotiations with Iran, CNN reported, citing White House on Sunday.
Iran has put forward a comprehensive 10-point framework that it says forms the basis of a complete resolution.
Donald Trump says several issues were settled during the final day of talks with Xi Jinping covering trade, tariffs, and diplomacy.
The escalating crisis in West Asia and its impact on the global energy supply chain are expected to dominate deliberations at a two-day meeting of BRICS foreign ministers to be hosted by India.
Indian benchmark indices, Sensex and Nifty, opened lower on Tuesday, driven by a surge in global crude oil prices and continued outflows by Foreign Institutional Investors (FIIs), reflecting fragile market sentiment influenced by external factors.
United States President Donald Trump has issued a strong warning to Iran, asserting that any attempt to impede the transit of petroleum through the Strait of Hormuz would be met with massive military retaliation.
Donald Trump has dismissed the ceasefire with Iran as being on 'massive life support', signalling continued tensions between the US and Iran amid ongoing negotiations.
India's wholesale price inflation surged to 8.30 per cent in April, up from 3.88 per cent in March, primarily driven by a significant increase in the prices of fuel, power, and crude petroleum, according to data from the commerce and industry ministry.
Government sources indicate a potential increase in petrol and diesel prices due to rising global crude oil costs and losses incurred from a prolonged freeze on retail rates.
The government has introduced a mandatory 25-day gap between LPG cylinder bookings due to supply concerns arising from global disruptions and tensions in the Strait of Hormuz. This measure aims to prevent hoarding and prioritise essential non-domestic sectors, while domestic LPG production is being increased to mitigate shortages.
The Indian rupee depreciated by 52 paise to settle at 93.35 against the US dollar, driven by failed US-Iran peace talks, surging crude oil prices due to a potential US blockade of Iranian ports, and a global flight to the greenback. This geopolitical uncertainty is also leading to foreign capital withdrawal from domestic equities.
US President Donald Trump and Chinese President Xi Jinping met in Beijing to discuss a range of issues, including trade frictions and the war in Iran.
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.
Iran has presented a multi-layered proposal to the US in an attempt to break the deadlock in peace talks, focusing on de-escalation and nuclear programme discussions.
External Affairs Minister S Jaishankar discussed the West Asia conflict's impact on the global economy, particularly energy security, with US Secretary of State Marco Rubio. He also engaged with GCC ambassadors and his Sri Lankan and German counterparts on the same issue.
US President Donald Trump has claimed that a significant number of Iranian military officials were killed during a "massive strike" conducted in Tehran.
Iran's foreign ministry spokesperson Esmaeil Baqaei on Sunday said that the recent meeting with US officials was the longest round of negotiations they have had in the past year.
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.
An Indian-flagged crude oil tanker, Jag Laadki, safely sailed from the UAE's Fujairah port despite an attack on the terminal and is scheduled to reach India. The Indian government is working to ensure the safe passage of remaining Indian-flagged vessels in the region.
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