The Indian rupee weakened against the US dollar due to rising crude oil prices, geopolitical tensions in the Middle East, and foreign fund outflows.
Following a joint attack by the US and Israel on Iran, India is calling for restraint and de-escalation to avoid further military confrontation in the Middle East.
Analysts predict a surge in gold and silver prices as investors seek safe-haven assets due to escalating tensions in the Middle East. The impact on domestic prices will depend on the conflict's duration, with geopolitical factors and macroeconomic data also playing a role.
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."
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.
'The White House lunch that Trump hosted for Munir last year came just after Munir returned from a visit to Iran, at a moment when Israel and Iran were at war.' 'Trump said after that lunch that the Pakistanis know Iran very well. He likely views Munir as a useful interlocutor that can give helpful insights on Iran.'
The meeting follows a ceasefire agreement that was announced and welcomed by Shehbaz Sharif, who also extended invitations to both delegations for further negotiations.
In a post on Truth Social, Trump used unusually harsh language to convey his message, reminding Tehran of his deadline to 'make a deal' or 'open the Strait'.
US President Donald Trump threatened to bomb Iran if a deal is not reached before the ceasefire ends, while Pakistan urged both sides to extend the truce and pursue diplomacy.
There are roughly 2,000 ships stranded in the Persian Gulf, carrying more than 20,000 seafarers, according to the International Maritime Organisation, as quoted by The Wall Street Journal.
Gold prices experienced a significant drop in futures trading due to global selloff, inflation concerns, and a strong US dollar. Analysts predict a continued downward trend amid geopolitical tensions and potential rate hikes.
The Indian government has reduced excise duty on petrol and diesel to mitigate the impact of rising global crude prices, triggered by geopolitical tensions in the Middle East. This move aims to provide relief to consumers and oil companies amidst volatile international oil markets.
'It was diminishing even before Trump came to power.' 'The US was at the centre of the global economy. That position is going to become less and less important and less central.'
Hundreds of Indian seafarers are stranded on vessels carrying crude oil, LPG, and LNG in the Persian Gulf due to the ongoing conflict in the Middle East, causing disruptions to India's energy supplies.
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.
'On behalf of the Islamic Republic of Iran, I express gratitude and appreciation for my dear brothers HE Prime Minister of Pakistan Sharif and HE Field Marshal Munir for their tireless efforts to end the war in the region.'
'Narendra Modi -- a man with deep and vital experience of Indian politics -- has seen the BJP lose many elections between 1975 and 2015, and with every defeat, he learned lessons that made sure he would never allow his party to be defeated so easily again.'
The naval command underlined recent regional developments, which have now established a new reality in which extra-regional powers, led by Washington, DC, can no longer dictate terms or project unchecked influence in Iran's immediate maritime environment.
The statement comes even as Tehran links the issue to ongoing efforts to bring a complete end to hostilities in West Asia involving the United States and Israel.
External Affairs Minister S Jaishankar stated that India has demonstrated resilience in the face of recent global shocks, including the conflict in West Asia, while speaking at the convocation ceremony of IIM Raipur. He emphasised the importance of building national capabilities to de-risk and develop leverage in a changing global order.
The Pakistan Cricket Board (PCB) has dismissed concerns regarding the travel plans of overseas players for the Pakistan Super League (PSL) despite ongoing regional tensions. The 11th edition of the PSL is set to begin on March 26 and will feature an increased number of foreign players, particularly from Australia.
Pakistan has increased security measures in Islamabad and surrounding areas as the US and Iran prepare for another round of peace talks. The move follows an announcement by former US President Donald Trump that American negotiators would be in Pakistan for discussions aimed at resolving the conflict between the two nations.
On Monday, March 9, Mojtaba Khamenei was appointed Iran's new supreme leader, succeeding his father Ayatollah Ali Khamenei.
For that to happen America does not have to lose. It only has to do the right thing, asserts Aakar Patel.
Former US President Donald Trump claimed he stopped a war between India and Pakistan and expressed his desire to be remembered as a great peacemaker.
The conflict may disrupt Budget 2026-2027 projections, squeezing revenues and raising subsidies, prompting fiscal adjustments and potential reforms, echoing lessons from the Covid-era shock, points out A K Bhattacharya.
Trump seems to have estimated that Ghalibaf is a pragmatic politician who is receptive to close relations with the US and is enthusiastic about fostering business and economic ties in particular, points out Ambassador M K Bhadrakumar.
A spokesperson said the government is carefully assessing these communications in the context of the ongoing regional crisis.
If Trump wants peace with Iran, Pakistan will offer to help. If Trump seeks Pakistan's aid to spy on Iran, then too Munir will not hesitate to chip in. At the same time, the ISI will not hesitate to tip off Iran now and then, points out M R Narayan Swamy.
Pezeshkian urged American citizens to look beyond 'manufactured narratives', claiming the portrayal of Iran as a threat is driven by the military-industrial complex and Israeli political interests.
Live updates on the US-Israel-Iran war: Trump escalates threats, Iran retaliates, and oil prices surge as the Strait of Hormuz crisis disrupts global markets.
West Indies spinner Gudakesh Motie is being linked with a possible move to Lucknow Super Giants as a replacement for injured Wanindu Hasaranga ahead of the Indian Premier League 2026 season.
Equipped with advanced weaponry, the HMS Anson is fitted with "Tomahawk Block IV land-attack missiles" with a range of 1,600 km and "Spearfish heavyweight torpedoes," providing formidable offensive capabilities.
A Thai cargo vessel was struck by missiles near the Strait of Hormuz, leaving three crew members missing and prompting a rescue operation by the Royal Navy of Oman.
The logic of war plus the gathering storms in US politics as the midterms loom large leave him with no real alternative but to negotiate, points out Ambassador M K Bhadrakumar.
Iran's claim comes after United States President Donald Trump confirmed that the military rescued the second F-15 crew member, who had gone missing after Iran downed the jet amid the West Asia conflict.
State-owned Indian Oil Corporation (IOC), Bharat Petroleum Corporation Ltd (BPCL), and Hindustan Petroleum Corporation Ltd (HPCL) are reportedly incurring losses of Rs 18 per litre on petrol and Rs 35 per litre on diesel, as they continue to absorb rising crude oil costs without increasing retail prices. This situation is leading to expectations of a fuel price hike after upcoming state elections.
Prime Minister Narendra Modi and US President Donald Trump discussed the Middle East crisis, with a focus on the Strait of Hormuz.
The Indian government is considering additional relief packages for vulnerable sectors like MSMEs to mitigate the impact of the ongoing West Asia crisis on the economy and inflation.
A media report indicates the White House was directly involved in crafting a social media post by Pakistan's Prime Minister Shehbaz Sharif, requesting then-US President Donald Trump to extend the deadline on Iran.
© 2026 Rediff.com - Advertise with us - Disclaimer - Privacy Policy - Sitemap - Feedback - About us - Terms of use - Grievances