Iran's Islamic Revolutionary Guard Corps (IRGC) claims control of the Strait of Hormuz and reports striking a US destroyer, escalating tensions in the Middle East following retaliatory strikes between Iran, the US, and Israel.
India and the US have decided to reschedule their meeting to finalize the interim trade pact due to recent developments and implications, including changes in US tariffs.
United States President Donald Trump on Sunday said a peace agreement to end the Russia-Ukraine war is getting 'very close', after a high-level meeting with Ukrainian President Volodymyr Zelenskyy at his Mar-a-Lago resort in Florida.
US Commerce Secretary Howard Lutnick claims a trade deal with India failed because Prime Minister Narendra Modi did not call then-President Donald Trump, despite requests.
Indian equity markets closed higher, driven by gains in PSU bank, auto, and financial stocks, following the US Supreme Court's decision on tariffs. Sensex climbed 479.95 points to 83,294.66, and Nifty advanced 141.75 points to 25,713.
Tensions escalate at the UN Security Council as the US and Israel defend their military actions against Iran, while Iran condemns the strikes as war crimes, raising fears of a wider Middle East conflict.
As Delcy Rodriguez took charge late on Sunday as Venezuela's acting president, United States President Donald Trump issued a sharp warning, saying she must give the US 'total access' or face consequences 'probably worse than Maduro'.
Iran's state media cited the spokesperson for the Central Headquarters of Iran's military to claim that a United States military refuelling plane was shot down by a missile fired by resistance groups in western Iraq. The spokesperson further told Press TV that all six service members on board had been killed.
The Congress MP said he had been "troubled" by the US tariff regime from the very beginning, adding that India was already at a disadvantage compared to its regional competitors.
Guterres emphasised that global structures and institutions must reflect the complexity and the opportunity of the "new times and realities"
Former President Donald Trump claims the United States has become the 'real United Nations' due to its role in resolving global conflicts, criticizing the UN's lack of involvement. He cites brokering a ceasefire between Thailand and Cambodia as an example.
The deal shifts the US posture towards India from hostile to neutral, and that matters for growth, points out T T Ram Mohan.
The UN Security Council, with India's support, has adopted a resolution condemning Iran's attacks on Gulf Cooperation Council countries and Jordan, demanding an immediate cessation of hostilities and denouncing threats to the Strait of Hormuz.
Analysts predict continued volatility in Indian equity markets due to domestic macroeconomic data, F&O expiry, global developments including US tariff policies, and geopolitical tensions.
US Energy Secretary Chris Wright said that long-term oil supplies are 'abundant' and there are no worries regarding that, but in the short term, there is a need to get oil on the market.
'America has historically been a magnet for people who aren't from here.' 'That sort of thing -- the promise of opportunity, no matter what that looks like -- doesn't grow on trees.' 'It also happens to be geopolitical gold that Trump is flushing down the toilet,' points out Sree Sreenivasan.
'The contours of the trade deal need to be reworked now.'
The IRGC said five missiles were launched at 'the headquarters of the US Army at the Harir Air Base in Erbil, located in Iraq's Kurdistan Region'.
Since May 10, when Trump announced on social media that India and Pakistan had agreed to a "full and immediate" ceasefire after a "long night" of talks mediated by Washington, he has repeated his claim over 60 times that he "helped settle" the tensions between the two neighbours.
Iran's ambassador to India, Mohammad Fathali, confirmed that Tehran will provide safe passage to vessels bound for India through the Strait of Hormuz .
The UAE consulate in Erbil, located in Iraq's Kurdish region, suffered structural damage in the aerial attack. Officials said there were no casualties.
Fathali further stated that Tehran has instructed its embassy in India to facilitate the Indian government, ensuring smooth operations amid the ongoing regional conflict.
The Indian Embassy in Riyadh has confirmed that an Indian national was injured but no fatalities occurred in a projectile incident in Saudi Arabia. The injured individual is receiving treatment at a government hospital.
Indian exports to the US will face a 10% tariff, down from 25%, for 150 days following a US Supreme Court ruling. However, uncertainty persists due to potential further tariff hikes and long-term implications.
Iran launched retaliatory military strikes targeting Israel and American military bases across the region, including in Qatar, the United Arab Emirates, Kuwait, Bahrain and Jordan.
The Indian embassy in Saudi Arabia has confirmed that one Indian national was injured in a projectile incident in Al Kharj, while clarifying that there were no Indian fatalities. The embassy is providing assistance and is in contact with Saudi authorities.
Iranian Supreme Leader Ayatollah Ali Khamenei has been killed in a US-Israeli attack, sparking celebrations in Iran and raising questions about the future of the regime.
An Indian national was killed in Saudi Arabia after a projectile struck a residential area in Al-Kharj Governorate. The incident also resulted in the death of a Bangladeshi national and injuries to twelve others.
The new US national security strategy signals a retreat from global dominance while reaffirming continuity in India's role in Indo-Pacific security and Quad cooperation, points out former foreign secretary Shyam Saran.
Despite the escalation in US military action, the War Secretary noted that Iran's missile response has declined in the last 24 hours.
'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.'
Indian stock market benchmarks Sensex and Nifty rebounded strongly after a two-day decline, driven by falling crude oil prices and positive global cues amid hopes of de-escalation in the Middle East.
Iran is set to witness more brutality as the administration has decided to execute its first protester on Wednesday amid mass arrests of anti-regime protesters, New York Post reported, citing human rights groups.
Finance Minister Nirmala Sitharaman stated that it is premature to comment on the tariff changes announced by the United States, adding that the commerce ministry is currently reviewing the situation.
Since May 10, when Trump announced on social media that India and Pakistan had agreed to a "full and immediate" ceasefire after a "long night" of talks mediated by Washington, he has repeated his claim over 70 times that he ended the conflict between India and Pakistan.
China has denied reports of finalising a deal with Iran to sell CM-302 supersonic anti-ship missiles, amidst rising tensions in the Middle East and joint US-Israeli airstrikes.
'Trump had done a deal with the current regime minus Maduro. The current regime is giving Trump entry into Venezuelan oil. They are obeying him and doing whatever he says.' 'They are happy because they have saved their heads by sacrificing only two, Maduro and his wife. Thousands of Venezuelan military leaders would have been jailed or killed in American action had Maduro stayed in power.'
Israeli Prime Minister Benjamin Netanyahu announced a joint operation with the US against Iran, citing the threat posed by its nuclear ambitions and support for terrorism.
Prime Minister Narendra Modi will chair a meeting of the Cabinet Committee of Security (CCS) in Delhi to discuss the global situation following the attack on Iran and the killing of Iranian Supreme Leader Ayatollah Ali Khamenei.
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.
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