Most of India's oil supplies are expected to stay safe because of the country's good relations with both Russia and Iran. That would take care of over a third of India's supplies.
India's merchandise exports dipped marginally in March to $41.69 billion, and by 3.11 per cent during the last fiscal year to $437.06 billion mainly due to continued geopolitical turmoil, and depressed global trade. Imports, too, declined in March as well during the entire 2023-24. Trade deficit, or the gap between imports and exports, narrowed 17.74 per cent in March to $15.6 billion and came down 9.33 per cent to $240.17 billion in FY24.
Although India-US relations have strengthened significantly in recent years, partly because of the security situation in the region, the Indian policy establishment would have to be prepared to protect India's interests in a world that could get more unpredictable.
'2019 was fought on delivery. But in 2024, you can see the before and after effects.'
'For experienced and risk-taking investors, now may be the time to go all in.' 'By 'experienced and risk-taking', I refer to those who remained net buyers in equities during the early stages of the 2020 pandemic.' 'On the other hand, those who exited the markets during the pandemic may go the SIP way.'
Oil and LNG prices are likely to shoot up if Iran is to block Strait of Hormuz, through which countries like India import crude oil from Saudi Arabia, Iraq and UAE, leading to a spike in inflation, analysts said on the Iran-Israel conflict. The Iran and Israel conflict has escalated over the last few days. Iran first launched drone and rocket attacks on Israel, which retaliated by firing a missile. Crude oil prices have hovered around USD 90 per barrel since the conflict.
'Focus on 19,400/64,900 as the key resistance levels for the Nifty/Sensex.'
Market participants attribute the stability to the Reserve Bank of India's timely intervention in the foreign exchange market, both in terms of selling and buying dollars.
US central command said that several US personnel are undergoing evaluation for "traumatic brain injuries" and at least one Iraqi service member was wounded in the attack.
Israel said it had conducted a joint missile test with the United States over the Mediterranean Sea on Tuesday, hours after Russia's announcement of its detection of missile launches added to jitters about possible military action against the Syrian regime.
While Rohit Sharma will be eager to test his ultra-aggressive batting template against the Asian giants, for Virat Kohli it is the perfect platform to return to form after enduring a tough phase in the last few years.
Following the outbreak, Iran has stopped Indian basmati shipments. This has led to exports already falling 18-20 per cent this fiscal year. Iran and the rest of West Asia account for the largest imports of Indian basmati, and comprise more than 30 per cent of the shipments.
As global tensions put pressure on the cost of crude oil, sending petrol prices above 1 a litre across the UK, This is Money investment writer Philip Scott investigates how investors can profit from rising oil prices.
In the Indian markets, along with the international gold prices, the rupee rate and government taxes also play an important role in determining gold prices.
Organisers hope a high-tech opening ceremony on Saturday will help drum up excitement for the Games. Interest at home has been muted as the economy sputters and some question the cost of hosting the mega-event.
Putin said work would be completed on building storage units for tactical nuclear weapons in Belarus on July 1, a move he likened to US nuclear deployments in Europe.
Israel temporarily put on hold a decision on a possible ground invasion of Gaza to give more time to Egypt's truce efforts, but seven days of incessant raids took the Palestinian death toll to 111 amid warnings by Hamas that it won't succumb to Israeli conditions.
Bahrain has of late emerged as a regional hub for banking because of low tax rates and easy regulations. At present, 409 banks and financial institutions have operations there.
BCCI puts Asia Cup in Pakistan on Indian team's roster for 2023
Crowd roar as Xi opens Hangzhou Asian Games
'If Trudeau chooses to repeat his allegations in his UN speech on Friday, it would create a whole new escalation.'
The pro-Iran militia did not say who was responsible but Iraqi state television reported it was a US air strike.
The prime minister said India favoured creation of a buffer to meet any eventuality arising out of tensions in West Asia that could lead to prolonged supply shortages.
The headline HSBC Services Business Activity Index was at a 17-month peak of 54.4 in June rising from a modest 50.2 in May, HSBC said adding that 'the Modi wave has struck the service sector'.
It moved in a range of 63.54 and 63.81 per dollar during the day.
In comparison to other asset classes, globally, gold rallied significantly after many years to deliver 18.4 per cent returns in 2019.
'It is only when Beijing sees a country with an infirm political will such as India that it acts up as the PLA has done in eastern Ladakh.'
'We can't be outliers. We can't be bystanders. We have to be players.' 'The Taliban also need India to balance the winners in this game.'
On February 24, when Vladimir Putin announced a military operation on Ukraine, few would have thought that Indian government-owned GAIL India would feel the impact. The tensions over gas supplies were essentially a Europe-Russia problem, related to the sanctions western economies imposed on Moscow. But the EU depends on Russian imports for 40 per cent of its gas stocks, an over-dependence that Russia has underlined with Kremlin-owned Gazprom cutting its supplies through the Nord Stream 1 pipeline to 20 per cent, citing maintenance issues.
Foreign Direct Investment flows to India in 2021 were 26 per cent lower, mainly because large M&A deals recorded in 2020 were not repeated, the UN trade body has said.
Etihad wants to control a domestic carrier that can give it access to over 45 cities in India from where it can bring traffic to its hub in Abu Dhabi and beyond.
Oil prices jumped nearly $3 a barrel and gold and safe-haven bonds rallied on Friday after the killing of top Iranian commander Qassem Soleimani in an airstrike by the US in Baghdad.
Imran Khan knows Pakistan is holding a strong hand and doesn't have to flaunt it while claiming victory. But Pakistan has learned from the experience of the 1990s -- high risk of going out on a limb, asserts Ambassador M K Bhadrakumar.
Although the pact would focus mainly on the Pacific and the South China Sea region, any action designed to deter China with or without New Delhi's active participation is a welcome move, notes Commodore Venugopal Menon (retd).
To the extent the nuclear race in West Asia is slowed down by the Iran nuclear deal, the world as a whole has reason to be happy, says Virendra Kapoor.
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Silver declined by Rs 200 to Rs 38,550 per kg.
Globally, gold fell by 0.94 per cent to $1,094.20.
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