The Indian rupee depreciated by 28 paise to settle at 93.44 against the US dollar, influenced by ongoing uncertainties surrounding West Asia peace negotiations, volatile crude oil prices, and the Reserve Bank of India's recent adjustments to non-deliverable forward market regulations.
The Haryana government is taking strict measures to combat the black marketing of cooking gas cylinders, registering FIRs and seizing hundreds of cylinders. Officials assure citizens of sufficient LPG supply despite global concerns.
The Indian rupee appreciated by 23 paise to settle at 92.91 against the US dollar, driven by a weakening American currency, retreating crude oil prices, and renewed foreign institutional investor (FII) inflows amid increasing hopes of easing geopolitical tensions.
'Markets never fully lose hope. But an important shift could come if the Strait remains closed -- moving from high prices to no prices.'
A senior government official says the idea is to facilitate mutually beneficial ways to keep the supply going.
Delhi Police have dismantled a fake auto parts racket operating in Karol Bagh, arresting two individuals and seizing counterfeit spare parts valued at Rs 25-30 lakh.
Karex, the Malaysian company that makes roughly one in five of the world's condoms -- about five billion a year, supplying Durex and Trojan among others -- announced this week that it is raising prices by up to 30 percent. The reason is the Strait of Hormuz.
Pakistan's Punjab government has announced the reopening of all public and private educational institutions after implementing fuel-saving measures due to the conflict in West Asia. The decision comes as fuel supply stabilises and the government secures national fuel stocks.
There are enough people at the top decision-making level in Tehran who are still willing to negotiate, provided Trump can create the right setting for the negotiation to acquire a dynamic of its own, points out Ambassador M K Bhadrakumar.
As Prime Minister Narendra Modi urges Indians to travel less, rising fuel prices are already changing driving habits.
Several non-banking financial companies (NBFCs) are observing an increase in early-stage delinquencies within their micro, small and medium enterprises (MSME) loan portfolios, primarily driven by supply chain disruptions and escalating raw material costs exacerbated by the ongoing conflict in West Asia.
US Treasury Secretary Scott Bessent's remarks come ahead of a high-level summit where India and the European Union are expected to formally announce the conclusion of negotiations on a comprehensive free trade agreement.
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The Haryana government is taking strict action against individuals involved in the black marketing of cooking gas cylinders, resulting in multiple FIRs and the seizure of hundreds of cylinders.
The Indian government has increased the export duty, or windfall tax, on diesel to Rs 55.5 per litre and on aviation fuel (ATF) to Rs 42 a litre, effective immediately, to boost domestic availability and prevent exporters from exploiting global price differences.
The threat has raised concerns about possible asymmetric attacks outside the region. Iran has also stepped up attacks on energy infrastructure in Gulf countries.
If TVK MLAs and ministers are perceived as clean, or demonstrably cleaner than their predecessors, the credibility dividend will be enormous. The voter will feel rewarded, points out Ramesh Menon.
Despite a ceasefire agreement between Iran and the United States, the Strait of Hormuz remains blocked due to Iran's inability to locate and remove all the mines it laid during the conflict, hindering global oil and gas supplies.
'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.'
India's sugar consumption is projected to fall by nearly 400,000 tonnes in the 2025-26 season, primarily due to the ongoing liquefied petroleum gas (LPG) shortage exacerbated by the West Asia conflict and unseasonably cool weather.
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.
Amid escalating tensions with Iran, President Trump is urging nations dependent on Middle Eastern oil to deploy warships to the Strait of Hormuz to safeguard critical global energy supplies.
A major fire near the main unit of the newly built Rajasthan refinery of HPCL has postponed the inauguration by Prime Minister Narendra Modi. The fire, which broke out near the crude distillation unit, was doused in about two hours with no reported casualties.
An Indian-flagged crude tanker safely departed from the UAE's Fujairah after loading oil, despite an attack on the oil terminal. The Indian government is closely monitoring the situation in West Asia to ensure stable fuel supplies and maritime safety.
India's plans to ration the consumption of liquefied natural gas (LNG) and liquefied petroleum gas (LPG) - in response to reduction in their import owing to war in West Asia - may fall short of what is needed to meet domestic needs.
The government has sharply reduced excise duty on petrol to 3 and diesel to zero, offering major relief to consumers. Here's how the price cut will impact fuel rates and inflation.
The petroleum ministry on Friday reaffirmed the government's commitment to maintaining stable petrol and diesel prices, despite India's high dependence on imports.
China has denied any links to the Iranian cargo ship seized by the US in the Gulf, which allegedly contained chemical materials for manufacturing missiles. The denial follows allegations by former US envoy to the UN Nikki Haley, who claimed the ship was headed from China to Iran.
The US blockade on Iranian ports is aimed to curb Iranian energy exports, thereby crippling its economy to force Iran back to the negotiating table, points out Commodore Venugopal Menon (retd).
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.
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.
Amidst rising tensions, Iran threatens to close the Strait of Hormuz to those not adhering to its new regulations, signaling a potential escalation in the region's geopolitical landscape and raising concerns about global oil supply routes.
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.
The Kremlin has stated that India is free to purchase oil from any country, dismissing claims that India agreed to reduce Russian oil imports. Russia maintains that energy trade with India benefits both nations and contributes to international energy market stability.
If the conflict continues for a prolonged period, State-run oil companies may have to review retail fuel prices accordingly.
For that to happen America does not have to lose. It only has to do the right thing, asserts Aakar Patel.
An India-flagged LPG tanker, Jag Vikram, has successfully crossed the Strait of Hormuz following a temporary ceasefire between the United States and Iran, marking a significant development for India's energy security.
The World Bank has affirmed India's strong position to withstand the current global energy shock, citing high foreign exchange reserves, fiscal space, and low inflation as key buffers supporting continued growth despite international headwinds.
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.
A new report suggests that prolonged conflict in the Middle East could significantly impact India's GDP growth and inflation.
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