Explore Business Standard
Iran's parliament speaker said Thursday that any invasion of Iran's islands will "make the Persian Gulf run with the blood of invaders." It wasn't immediately clear what prompted Mohammad Bagher Qalibaf's comments, which again escalated the rhetoric surrounding the ongoing Iran war. Iran holds three islands it took from the United Arab Emirates before its formation in 1971. There also has been speculation that the United States could target Kharg Island in the Persian Gulf, Iran's main oil terminal.
The Centre is fully prepared to bring back Indians stranded in the Gulf region and is in touch with Indian missions abroad to ensure their safety, Union Minister Pralhad Joshi said on Monday. In a statement, Joshi said discussions have been held with senior officials of the concerned embassies to facilitate the safe return of those affected by the war situation. "Whenever Kannadigas and other Indians face distress anywhere in the world, the Central Government has ensured their safe return. Earlier, we brought back those stranded in Ukraine. Wherever Indians are, their safety remains our first priority," he said. Joshi said information has been received about Kannadigas facing hardship due to the severity of the IranIsrael conflict, and urgent consultations have been held with senior ministers to take necessary measures for their protection. Reassuring anxious families, the Minister said there was no need to panic and that the government is committed to bringing back all Indians ...
An association of Indian rice exporters on Sunday advised its members to avoid new 'cost, insurance and freight' commitments to Iran and Gulf destinations, amid deteriorating geopolitical situation in West Asia and possible restrictions on shipping through the Strait of Hormuz. 'Cost, insurance, and freight' (CIF) is a shipping agreement that ensures a seller covers the costs, insurance, and freight of a buyer's order when cargo is transported via a waterway. The advisory comes after the US and Israel launched a major attack on Iran on February 28, with Iranian Supreme Leader Ayatollah Ali Khamenei killed early on Sunday. The Indian Rice Exporters Federation (IREF) asked its members to conclude sales on free-on-board (FOB) terms, wherever feasible, so that freight, insurance and related risks remain with the international buyer. The organisation said that developments in Iran and the United Arab Emirates could have an immediate impact on bunker (supplying fuel to ships) prices and
Commercial vehicle maker Ashok Leyland on Wednesday said it has partnered with Qatar-based Al-Futtaim Group's firm FAMCO Qatar to strengthen presence in the country off the Persian Gulf as part of its overseas expansion plans. The move builds on Ashok Leyland's expansion into Saudi Arabia with FAMCO KSA last year, reinforcing the strong strategic alliance between Al-Futtaim and Ashok Leyland. Through its partnership with FAMCO Qatar, Ashok Leyland said, it will introduce its full commercial vehicle range, including the new electric bus, tailored to the needs of local businesses and communities. The comprehensive product portfolio includes the flagship 'Falcon' and 'Oyster' buses, along with the versatile 'Boss' and 'Partner' light and medium-duty trucks, the company said, adding the partnership leverages Al-Futtaim's strong regional network to deliver reliable fleet and after-sales support. "We are introducing Ashok Leyland's best-in-class commercial vehicles in Qatar, in partners