The economic fallout of the West Asia crisis, the prevailing security situation in the Indo-Pacific and ways to boost cooperation in critical minerals and technology are expected to top the agenda at a crucial meeting of the Quad foreign ministers on Tuesday.
Indian benchmark indices, Sensex and Nifty, rallied significantly following a sharp decline in crude oil prices. This decline was triggered by US President Donald Trump's announcement of progress in negotiations with Iran towards a peace agreement, which led to renewed optimism in global markets.
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.
We who were dreaming of being the third largest economy in dollar terms, have slid back to sixth, thanks to the falling rupee. We are moving about with begging bowls for investments and trade opportunities, which will be a while in materialising, if ever, notes Shreekant Sambrani.
Trump claims the United States is performing exceptionally well in its ongoing conflict with Iran, citing weakened Iranian military capabilities and a strong US position.
Indian benchmark indices Sensex and Nifty climbed in early trade, driven by a significant drop in crude oil prices following reports of a potential 60-day ceasefire extension between the US and Iran, coupled with positive global market trends and buying in IT stocks.
The ongoing conflict involving the United States, Israel, and Iran intensified sharply with attacks on critical energy infrastructure across the Gulf, even as US President Donald Trump said he had cautioned Israeli Prime Minister Benjamin Netanyahu against targeting Iran's key South Pars Gas Field.
US President Donald Trump and Russian President Vladimir Putin discussed the Iran conflict and its impact on global energy supplies during a phone call.
The BSE benchmark traded 44.43 points up at 76,521.93, and the Nifty quoted 17.20 points higher at 24,048.85. Track Stock markets on May 26.
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.
AICC President Mallikarjun Kharge criticised Prime Minister Narendra Modi's relationship with US President Donald Trump, alleging that Modi is acting as Trump's 'slave' and jeopardising India's interests on trade, oil and foreign policy.
Modi said violence has no place in democracy and must be unequivocally condemned.
Pakistan's Interior Minister Mohsin Naqvi has been in Tehran meeting with Iranian officials in an attempt to mediate and resolve the ongoing conflict between the US and Iran. This marks Naqvi's second visit in less than a week as Pakistan seeks to bridge the differences between the two nations and establish long-term stability in the region.
Iran has issued a defiant response to United States President Donald Trump's claims regarding the conclusion of hostilities, asserting that it alone will 'determine' the end of military actions against American and Israel targets.
Khamenei urged the pilgrims for unity and called on them to pray for "the liberation of Palestine and Al-Aqsa Mosque, the alleviation of the great hardships afflicting Muslims, and the attainment of ultimate victory against global arrogance."
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.
Prem Panicker's Must Read Blog On The Gulf War.
External Affairs Minister S Jaishankar raised India's concerns with US Secretary of State Marco Rubio regarding changes to US visa and immigration policies, emphasising that legal mobility should not be negatively affected. Rubio acknowledged potential 'bumps' during the transition as the US aims to improve its immigration system.
The US military is considering a new wave of military operations in Iran, including potential strikes on infrastructure and securing Iran's stockpile of enriched uranium, amid a fragile ceasefire and stalled nuclear talks.
United States President Donald Trump on Friday signalled the US intention of going all out in its campaign against Iran's Islamic regime, warning Iran to watch out for what would happen today and saying that the US was winning the conflict despite what reports claimed.
Indian benchmark indices Sensex and Nifty closed lower, snapping a two-day rally, as a spike in crude oil prices, triggered by reports of fresh US military operations in southern Iran, dampened investor sentiment and reignited fears of renewed energy supply disruptions.
Indian benchmark equity indices, Sensex and Nifty, surged over 1 per cent, driven by a significant correction in crude oil prices and a global market rally, fueled by improving sentiment surrounding potential US-Iran negotiations.
World leaders have expressed their relief and condemnation following a shooting incident at the White House Correspondents' Dinner, emphasising that political violence has no place in a democracy.
American industry groups sought punitive tariffs on Indian goods at USTR hearings, while Indian officials defended the country's manufacturing growth as demand-led and WTO-compliant.
A US lawmaker has criticized President Donald Trump's tariff policy on India for purchasing Russian oil, urging him to reverse it immediately.
World leaders have expressed relief and condemnation following a shooting incident outside the White House Correspondents' Dinner, where US President Donald Trump and other top officials were present. Leaders from various countries reiterated that political violence has no place in a democracy.
World leaders have expressed relief and condemnation following a shooting incident at the White House Correspondent's dinner, emphasising that political violence has no place in a democracy.
In a bid to de-escalate Middle East tensions, the US has presented Iran with a comprehensive 15-point peace plan focusing on nuclear disarmament and regional stability in exchange for sanctions relief.
US President Donald Trump said on Thursday the Iranian men's national soccer team was welcome to participate in the 2026 World Cup but that he believed it was not appropriate that they be there "for their own life and safety."
The Congress has strongly criticised the US government's temporary waiver allowing India to purchase Russian oil, raising concerns about continued 'American blackmail' and its impact on India's energy policy.
For weeks, the war skirted the edge of catastrophe without tipping over. Missiles flew, there was much destruction, commanders were assassinated, cities across the Gulf and even in Israel struggled to absorb the shock. But one line held: Energy infrastructure, the arteries of the global economy, remained largely untouched. That is no longer true. Prem Panicker continues his must read daily blog on the Gulf War.
The White House Correspondents' Association (WHCA) has thanked law enforcement for ensuring the safety of guests after a shooting at the Washington Hilton, where their annual dinner was held. The incident led to the evacuation of President Trump and other officials.
The US President has previously made similar claims, stating that Sharif had credited him with saving millions of lives by helping end the conflict between the nuclear-armed neighbours.
Punjab Kings co-owner Mohit Burman highlights the sensitive issue of foreign players' availability in the IPL, urging better collaboration between the BCCI, foreign boards, and stakeholders to ensure overseas players are available for the tournament's duration.
A Pakistani man with ties to Iran has been convicted in a US court for plotting to assassinate former US President Donald Trump and other American politicians.
Indian equity benchmark indices experienced a significant drop in early trade, with the BSE Sensex falling over 525 points and the NSE Nifty down more than 164 points, primarily due to rising crude oil prices and ongoing uncertainty surrounding the US-Iran conflict.
Iran has submitted its latest proposal aimed at advancing negotiations to end the ongoing West Asia conflict with the US, days after the Islamic Republic submitted a fresh proposal through regional intermediaries to cease its military operations in the Strait of Hormuz, which is likely to get rejected by Washington.
When asked about Bessent's announcement allowing certain Russian oil sales to India and whether the US is considering any other moves, including tapping the Strategic Petroleum Reserve (SPR), Trump said, "If there were some, I would do it just to take a little of the pressure off."
Donald Trump is claiming he prevented a war between India and Pakistan, a statement that has been repeatedly made by the former US President despite denials from India.
The ruling is expected to have wide-ranging consequences for global trade, businesses, consumers, inflation trends and household finances across the country.
