WebinarsNew
Deep DiveNew
Explore Business Standard
Iran
State-run media say an Iranian commercial vessel was struck early Sunday off Qeshm Island near the Strait of Hormuz, with one person killed and three wounded. The United Kingdom Maritime Trade Operations monitor separately reported a vessel was hit by a projectile while transiting the strait, with no details. There was no immediate statement by the US military, which previously has struck Iranian-flagged vessels as it keeps up a blockade of Iranian ports.
Iranian President Masoud Pezeshkian held talks with Abu Dhabi Crown Prince Sheikh Khaled bin Mohamed bin Zayed Al Nahyan in New Delhi on the sidelines of the BRICS summit on Saturday. The meeting assumed significance as relations between the two sides came under severe strain after Iran targeted many US bases in the UAE in the last few months as part of its retaliation to the US attacks on Iranian installations. "Iranian President Masoud Pezeshkian met with UAE Crown Prince Khaled bin Mohamed bin Zayed Al Nahyan on the sidelines of the BRICS Summit," the Iranian embassy said on social media. The meeting came amid reports about Iran's plans Iran to meet members of the Gulf Cooperation Council (GCC) and Iraq in Oman on September 14 to discuss an agreement on transit through the Strait of Hormuz. It will be the first such meeting since the start of the West Asia conflict.
Iran will not surrender to "bullying" and "arrogance" and will stand firm to protect its national interests, Iranian President Masoud Pezeshkian said on Friday in a direct message to the US and Israel amid a sudden spike in West Asian hostilities. In an address at a gathering of religious leaders, intellectuals, academicians and business figures, Pezeshkian outlined Tehran's vision for the Gulf region, emphasising a commitment to peaceful coexistence while vowing to defeat foreign forces seeking to "sow the seeds of discord" within Iranian society. "We will not surrender to oppression. Iran is standing up to Israel and the US because we will not be bullied, and if they push us, we will push them back," the Iranian president said. He labelled the US and Israeli forces as "real militants", pointing to a US strike near a primary school in southern Iran that left 168 children dead. "They should take on our soldiers instead of targeting hospitals, infrastructure and livelihoods. They th
Prime Minister Narendra Modi on Friday pressed Iranian President Masoud Pezeshkian to resolve the West Asia conflict through dialogue and diplomacy while highlighting the vital need for safe navigation and safety of seafarers. In their talks, the two leaders also discussed various aspects of the India-Iran relationship. It was the second meeting between the two leaders in less than two weeks. The talks took place hours after the Iranian leader arrived in the national capital to attend the BRICS summit. It is Pezeshkian's first visit to India as the president. His visit assumes significance as it comes amid sudden spike in overall tensions in West Asia following the US slapping new punitive economic measures against Iran. "The two leaders exchanged views on recent developments in West Asia. The Prime Minister reiterated India's consistent position that all issues must be resolved through dialogue and diplomacy," the Ministry of External Affairs (MEA) said. The prime minister also .
Iranian President Masoud Pezeshkian on Friday called for a stronger shift toward local currencies in BRICS trade, while pitching Iran's geography, energy resources and transport links as a strategic bridge for the bloc's economic connectivity. Speaking at the BRICS Business Forum, Pezeshkian said BRICS must move beyond its economic potential and build a more integrated network of trade, investment and joint financing. He argued that greater use of national currencies, backed by mechanisms to manage currency risks and reciprocal settlements, would make intra-BRICS trade less vulnerable to political shocks. Pezeshkian also positioned Iran as a potential link in BRICS energy, food and transport supply chains, citing its geographical location and energy reserves. He called for deeper integration of trade infrastructure, including digitalised customs procedures, reduced regulatory barriers and stronger cross-border markets. The Iranian president urged the New Development Bank to become
The US military has destroyed five Iranian crude oil tankers following attacks on a US warship by Iran's Revolutionary Guard, US Central Command said in a social media post on Tuesday. The US strikes were in response to two Iranian efforts to hit the warship with ballistic missiles over the past two days, the statement added. Iranian state television also reported the strikes, saying US forces attacked at least three Iranian oil tankers near the southern port of Jask and near Kharg Island in the Persian Gulf. It said the crews were evacuated. The latest tit-for-tat strikes come as Washington and Tehran lurch back toward fighting during more than six months of war. Secretary of State Marco Rubio said the US will not allow Iran's attacks to go unanswered. "Iran continues to try to hit US naval ships. And for every time they do that or try to do that, they're going to lose tankers. And I think you'll see that again today," Rubio told reporters on Tuesday when asked about the latest .
Iran early Tuesday introduced a higher price for its heaviest users of gasoline, state media reported, in the latest economic pinch caused by months of war. It's the second such hike since December. Such gas price increases can be sensitive and contribute to inflation. An increase in 2019 sparked nationwide protests and a crackdown that reportedly killed more than 300 people. Without specifically mentioning the war with the United States, the government's announcement cited the "current situation", adding that the extra money from the price increase will be given to households. Under the new system, people buying more than their quota of 110 litres (29 gallons) of gasoline a month now must pay 100,000 rials (about 7 cents) per litre, or twice as much as they have been paying since December. Iran still has some of the world's lowest gasoline prices, but the price increase adds to daily pressures for many of the country's more than 90 million people. Already, the currency has been .
Upcoming US inflation figures, crude oil price movements, and geopolitical tensions in West Asia will be primary triggers for gold and silver prices, amid heightened speculation surrounding the global interest rate outlook, analysts said. Investors will also keep an eye on consumer price data from Germany and China, GDP figures from the Eurozone, Japan and the UK, as well as China's trade data this week, they added. "US inflation numbers would be the key trigger for bullion markets amid considerable speculation over the interest rate outlook," Pranav Mer, Senior Vice President, EBG - Commodity & Currency Research, JM Financial Services Ltd, said. US Consumer Price Index (CPI) inflation report for August 2026 is scheduled for release on September 11. "In gold, the prices look for resistance at Rs 1.57 lakh per 10 grams, while in case of silver we still maintain a positive bias till prices are above supports at Rs 2.31 lakh per kg," Pranav Mer, Senior Vice President, EBG - Commodity
US Secretary of State Marco Rubio on Wednesday said he did not think India and Iran were talking of a trade deal, and many countries around the world talk to the regime in Tehran. Rubio's remarks came during an interview on The Brian Kilmeade Show on Fox News Radio in response to a question on the meeting Prime Minister Narendra Modi had with Iranian President Massoud Pezeshkian on the sidelines of the Shanghai Cooperation Organisation (SCO) Summit in Bishkek. "Well, I don't think there's a trade deal between India and Iran. Obviously, there are countries all develop their own foreign policy, and many countries around the world talk to the Iranian regime," Rubio said in response to a remark by Kilmeade that Modi and Pezeshkian appeared to set up a trade deal. "I mean, we've met with elements of the Iranian regime as well, in terms of some of these discussions that have occurred and there's been contact with them," Rubio said. The US Secretary of State said President Donald Trump h
Iran's supreme leader called on Muslim countries to stand together against Israel and the United States. Ayatollah Mojtaba Khamenei urged rulers of Muslim nations to "know your real enemy, understand its plans and confront it," and called the US and Israel enemies of all Islamic nations, the official IRNA news agency reported. Six months after the US and Israel attacked Iran, killing Khamenei's father and other senior leaders, Khamenei still has not been seen publicly. His comments came in a letter to religious leaders attending a conference in Tehran. The war has exposed divisions in the Muslim world after Iran struck targets in neighbouring Gulf Arab countries and restricted shipping through the Strait of Hormuz. Tehran has opposed the US military presence in the region.