Pakistan is set to host face-to-face talks between the United States and Iran, aiming to solidify a fragile ceasefire and prevent further conflict in West Asia. The discussions will focus on a long-term peace arrangement, including sanctions relief, regional security, and Iran's nuclear program.
Markets face risk of a prolonged bear phase as oil shocks and geopolitical tensions test inflation, growth and investor confidence globally, points out Debashis Basu.
A United States missile strike has reportedly hit an educational facility in Khomeyn in central Iran, according to a report by Al Jazeera citing Iran's Mehr news agency. The site was identified as the Dr Hafez Khomeyni School.
The IRGC also warned residents to evacuate areas near military bases, security centres and government facilities.
The ministry of interior of Bahrain on Sunday claimed that Iran attacked civilian targets in a water desalination plant after a drone attack.
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 Iranian state television presenter has labelled the women's national soccer team as "wartime traitors" after the players did not sing their national anthem before their Asian Cup opener against South Korea in Australia earlier this week.
Iran has banned national and club sports teams from travelling to countries it considers hostile, citing concerns over the safety of its athletes.
In a post on Truth Social, Trump said the decision followed a request from the Iranian government and added that talks between the two sides were 'going very well'.
Iran striker Sardar Azmoun has been left out of the squad for World Cup warm-ups amid reports of expulsion over alleged disloyalty, sparking controversy.
Amid rising tensions, Iran threatens retaliation after the United States confirms sinking its warship, IRIS Dena, in international waters, escalating conflict in the region.
A second United States fifth-generation F-35 fighter jet was struck and downed over central Iran by a modern air-defence system of the Islamic Republic's Islamic Revolutionary Guard Corps (IRGC), with officials saying the pilot is unlikely to have ejected, Iranian state media reported on Friday.
Tensions escalate between Iran and the US following an attack on an Iranian commercial vessel in the Sea of Oman, with both sides trading accusations over maritime security and ceasefire violations.
The call came before Iran's new supreme leader Mojtaba Khamenei vowed vengeance and urged citizens to continue their fight against the attacks by US and Israel.
SpiceJet will operate 13 special flights from the UAE to facilitate the return of passengers stranded due to the Middle East conflict.
Crude oil prices have surged to record highs due to escalating tensions between the US and Iran, raising concerns about supply disruptions and market volatility.
Iran on Monday launched multiple missiles at US military installations in Qatar and Iraq, including the Al Udeid Air Base in Qatar -- the largest US military base in the region.
US President Donald Trump hinted at the possibility of the US seizing Iran's key oil export hub on Kharg Island, suggesting it could be done with minimal resistance. He also expressed his desire to take Iran's oil resources, while indicating potential negotiations and a possible deal with Iran.
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.
Srivastava warned that continued bombing of Iran by the US and Israel could severely undermine any prospects of reopening critical maritime routes through negotiation with Tehran.
'I suspect that Bangladesh being given permission stuck in India's official craw, and this story was an attempt to balance the scales by giving the impression that a similar waiver had been given to India as well.'
Global energy markets saw a significant correction as oil prices nosedived following Iran's announcement that the Strait of Hormuz has been fully reopened, dismantling the 'war-risk' premium that had gripped the market.
'FPIs are unlikely to return unless there is equilibrium between valuation premium and earnings growth.'
US Secretary of State Marco Rubio stated that significant progress has been made in negotiations with Iran to reopen the Strait of Hormuz, a critical global shipping lane. However, President Donald Trump remains cautious, vowing not to accept a 'bad deal' regarding Iran's nuclear programme and regional stability.
External Affairs Minister S Jaishankar has affirmed India's commitment to ensuring issues like a free, open, and rule-based maritime order, seafarer safety, and countering terror financing receive due attention at the UN Security Council during its 2028-29 term.
Pakistan's Prime Minister Shehbaz Sharif has called for urgent de-escalation and dialogue in West Asia during a phone call with Iran's President Masoud Pezeshkian, expressing serious concern over ongoing hostilities.
An air strike conducted by US and Israeli forces on the Black Mountain has resulted in the deaths of at least three individuals, Al Jazeera reported, citing Iranian state media.
By all available indications, the White House drafted a face-saving note and handed it, ready-made, to Islamabad. Pakistani Prime Minister Shehbaz Sharif was supposed to then post it in the guise of a plea urging Trump to extend the deadline by two weeks 'to allow diplomacy to run its course'. Trump would then graciously accept Pakistan's 'request' and declare a ceasefire. Sharif dutifully posted the message on X. Except that he, or whoever was handling the account, forgot to delete the tell-tale first line visible in the edit history: 'Draft - Pakistan's PM Message on X'. Prem Panicker's must read blog on the Iran War.
Satellite imagery and expert analysis suggest that a deadly explosion at a school in southern Iran last week was likely caused by a United States airstrike that also targeted a nearby compound linked to the Islamic Revolutionary Guard Corps (IRGC), according to media reports.
The Indian government has implemented several measures to mitigate external risks, support the balance of payments, and maintain macroeconomic stability amidst the ongoing West Asia crisis, according to Minister of State for Finance Pankaj Chaudhary.
Despite decades of efforts towards energy transition, oil will remain the critical energy source for all nations for some decades. We can hope for peace opening the Strait of Hormuz, but must prepare for war closing it, points out former foreign secretary Ranjan Mathai.
Amidst the stalling of high-level peace talks between Tehran and Washington, Iran continues to endure severe digital isolation as the nationwide internet blackout reached its 44th day on Sunday.
US President Donald Trump stated the war with Iran would end 'soon,' citing significant military gains and minimal remaining targets. This contradicts earlier administration statements about an open-ended timeline.
Petrol and diesel prices in India have seen their fourth increase in less than two weeks, pushing cumulative hikes to nearly Rs 7.5 per litre since May 15, reaching their highest levels since May 2022. This surge, driven by global crude oil costs and the Iran conflict, is expected to exacerbate inflationary pressures and raise transportation costs across the economy.
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.
Indian investors have seen their wealth erode by a staggering Rs 48.29 lakh crore since the West Asia war began on February 28, leading to a significant downturn in the BSE Sensex and NSE Nifty, driven by geopolitical tensions and rising crude oil prices.
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.
Trump said that Iran's leadership, along with its air defence, Air Force, and Navy are 'gone'.
Islamabad's attempt to position itself as a mediator in the West Asia conflict has come to naught with the Iranian side refusing to meet any US-led delegation in Pakistan, reports the Wall Street Journal.
Crude oil prices reached a new record high in futures trade, both domestically and internationally, as escalating military tensions between the US and Iran in West Asia continue to fuel market volatility. Diplomatic efforts concerning the Strait of Hormuz are being closely watched for potential price stabilisation.
