'Once the currency goes out of the hand, then possibly your major challenge is that it will not come back.'
Is the current rally telegraphing a durable peace plan in West Asia, boosted by United States (US) President Donald Trump's incoherent and contradictory posts on social media?
Egypt, Pakistan, Saudi Arabia and Turkey met in Islamabad in what analysts say is the formal opening of a new diplomatic formation that could reshape the post-war regional order. Their immediate goal is a ceasefire; their larger ambition is to ensure that neither Iran nor Israel emerges from this war in a dominant position. Pakistan's foreign minister then flew directly to Beijing and mooted a Chinese role as guarantor of any eventual agreement. Prem Panicker continues his must read daily blog on the Gulf War.
Prime Minister Narendra Modi and French President Emmanuel Macron discussed the escalating situation in West Asia, emphasising the need for dialogue and diplomacy to restore peace and stability in the region.
The question is no longer whether the war will expand. It has. The next few days will tell us whether the war stabilises around Hormuz or whether the Strait itself becomes the trigger for a far larger rupture. What to watch for over the next 48 hours is simple: Any move by the US toward direct naval control of the Strait; any credible Iranian attempt to disrupt or mine shipping lanes and, critically, whether energy infrastructure in the Gulf continues to be targeted.If those lines are crossed in tandem, the war will no longer be containable within the region.
'US and Iran have not annulled the ceasefire, and the possibility of continuing negotiations remains open.'
The Indian rupee depreciated by 52 paise to settle at 93.35 against the US dollar, driven by failed US-Iran peace talks, surging crude oil prices due to a potential US blockade of Iranian ports, and a global flight to the greenback. This geopolitical uncertainty is also leading to foreign capital withdrawal from domestic equities.
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.
'What we have yet to see on either the US or the Iranian side is willingness to compromise on their ultimate demands and the flexibility to reach an agreement to end the war.
Despite Iran allowing 'non-hostile vessels' through the Strait of Hormuz, marine insurance premiums are expected to remain elevated due to persistent high-risk classifications and ongoing geopolitical tensions, with experts cautioning that the threat of attacks and collateral damage still exists.
The core issues to be settled -- access to Hormuz, Israel's aggression in Lebanon, the question of Iran's nuclear programme, sanctions relief and compensation -- are thorny enough to require weeks of patient negotiation. The most likely outcome of the opening sessions is that both sides take the measure of each other, establish what is and is not negotiable, and return home without having broken anything. That would count as progress.
Indian benchmark indices Sensex and Nifty experienced volatility due to conflicting developments in West Asia, including reports of the Strait of Hormuz closure, which led to a rebound in crude oil prices and heightened investor concerns about supply disruptions and inflation.
Petrol and diesel prices in India have been increased by Rs 3 per litre each, marking the first rate hike in over four years. This decision follows a period of stable prices during recent state elections, despite rising global crude oil prices and significant losses for fuel retailers.
It may now be time to question the price India is paying for Israel's disregard of the serious undermining of India's energy security, asserts former foreign secretary Shyam Saran.
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.
External Affairs Minister S Jaishankar discussed the West Asia conflict and its impact on energy supplies with his Russian counterpart Sergey Lavrov and EU's Foreign Policy chief Kaja Kallas.
The 2026 Asian Senior Weightlifting Championships, featuring athletes from 30 countries, will be held in Gandhinagar from May 11 to 17. The event serves as a qualifier for the 2026 Commonwealth Games.
The decision marks a significant leadership transition as the administration seeks a commander who 'will implement Donald Trump and Hegseth's vision for the Army'.
'The next two to three weeks will not be decided in Washington.' 'They will be decided in Tehran, in whatever calculation Iran makes about the costs of continued resistance against the costs of appearing to have yielded.'
Indian banks are urging the Reserve Bank of India (RBI) to reconsider its new $100 million cap on net open foreign-exchange positions, warning that the directive could lead to significant mark-to-market (MTM) losses and force an accelerated unwinding of trades, potentially impacting FY26 earnings.
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.
The USS Tripoli, carrying around 3,500 US Marines, has entered the United States Central Command (CENTCOM) area of responsibility, marking the deployment of one of America's largest amphibious assault ships into an active combat theatre in West Asia amid the ongoing conflict.
US President Donald Trump on Thursday said that he has directed the country's Navy to take decisive action against any vessels attempting to lay mines in the strategically vital Strait of Hormuz amid escalating tension over the virtual control of the waterway between Tehran and Washington.
Russian President Vladimir Putin is actively working to de-escalate the escalating crisis in the Gulf, engaging with regional leaders following Iran's retaliatory strikes on US facilities after joint US-Israeli strikes against Iran.
US President Donald Trump has claimed that a significant number of Iranian military officials were killed during a "massive strike" conducted in Tehran.
National Conference President Farooq Abdullah has voiced his concern over the escalating violence in West Asia, urging all parties to prioritise dialogue and diplomacy to de-escalate tensions and protect civilian lives.
The Strait of Hormuz crisis is impacting lifestyles worldwide, from reduced gold purchases in India to energy conservation in Europe and Japan, as governments urge citizens to adapt to the global energy shock.
'Was the five-day pause ever meant to hold, or was it simply another instrument of signaling, of positioning, of buying time in a war where even the pauses are tactical?' asks Prem Panicker in his must read daily blog on the Gulf War.
Defence Minister Rajnath Singh has emphasised the need for India to develop a robust drone manufacturing ecosystem to enhance its defence capabilities, drawing lessons from recent global conflicts.
At least 101 people are missing and 78 are injured after a suspected submarine attack on an Iranian naval ship off Sri Lanka's southern coast on Wednesday, Reuters quoted sources in Sri Lanka's Navy and defence ministry as saying.
The escalating conflict involving the U.S. and Israel with Iran has led to widespread disruption in the world of sports, with events postponed, travel plans thrown into chaos, and athletes seeking asylum.
Admiral Alireza Tangsiri was accused of leading efforts to disrupt maritime trade, including actions affecting the Strait of Hormuz.
Delhi should keep all its options open in what is essentially a transitional period in the geopolitics of energy rather than remain a gatekeeper serving Trump's 'America First', suggests Ambasssador M K Bhadrakumar.
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.
IDF international spokesperson Lt Col Nadav Shoshani said the Israeli military targeted several Hezbollah positions, including command and control centres, launch sites and senior operatives.
'Refiners may soon be forced to adjust operations, curtailing runs as product exports stall and directing output solely to domestic markets.'
'Every day the meter is ticking. Like a time bomb.' Shipping giants are billing Indian exporters up to $3,000 per container in war surcharges -- on cargo that sailed before the war began -- as the Strait of Hormuz shuts down.
Elon Musk reportedly participated in a phone call between US President Donald Trump and Indian Prime Minister Narendra Modi to discuss the Iran crisis, raising questions about his involvement in diplomatic discussions.
A US Air Force officer was rescued from deep inside Iran after his jet was shot down, following a two-day mission involving US Special Operations forces. The officer evaded Iranian forces for over 24 hours, hiding in a mountain crevice and hiking to high altitudes before being rescued.
