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VOC Port Authority has made an arrangement of additional 90,000 square meter of space for shipping lines to keep their containers in the wake of the ongoing West Asia crisis, its Chairman Susanta Kumar Purohit said on Thursday. The official made the remarks while replying to a question on the sidelines of PHDCCI conference on shipbuilding and ship recycling. "We have given additional land to our customers where they can keep their goods safely beyond the time limit," Purohit said, sharing preparations made to deal with the situation of container diversions. However, the land remains unutilised as of now as operations and business at the port have not been affected, he said. He said all major ports are in constant touch of the Ministry of Shipping, terminal operators and shipping lines. Speaking further, the Chairman said the government is taking efforts to develop India as a hub of shipbuilding and ship recycling. The move will help save resources and increase availability of raw
A joint Iranian military command said on Wednesday that banks and financial institutions are now a target in the Middle East. The Khatam al-Anbiya Headquarters issued a statement identifying the targets. It came after Iranian media reported staff at a bank in Tehran had been killed in Israeli-American airstrikes. The threat would put at risk, particularly Dubai, in the United Arab Emirates, which is home to many international financial institutions, as well as Saudi Arabia and the island kingdom of Bahrain.
Hotel and restaurant operations in the city are likely to be affected starting March 10, following a sudden and total halt in the supply of commercial gas cylinders, the Bangalore Hotels Association said on Monday. This development comes amid rising energy costs and supply constraints caused by the West Asia conflict. "Since the gas supply has stopped, the hotels will be closed from tomorrow," the association said in a release. Noting that the supply of commercial gas cylinders stopped today, it said, since the hotel industry is an essential service, common people, students, and medical professionals, who rely on the hotels for daily meals, will be affected. "In addition, our hotel industry will also face difficulties until the gas supply returns to normal," it added. The association said oil companies had guaranteed an uninterrupted gas supply for 70 days, making the sudden stoppage a "big blow" to the hotel industry. "Therefore, we expect the concerned Union Ministers to take .
The Lok Sabha on Monday could not take up a resolution seeking the removal of Speaker Om Birla amid repeated adjournments, as opposition members demanded a debate on the West Asia situation. The government and the Chair accused the opposition of holding the House proceedings "hostage" to its demands. The House was adjourned for the day shortly after it reassembled at 3 pm, following an earlier adjournment due to relentless protests by opposition members. As proceedings resumed, opposition MPs continued raising slogans. Jagadambika Pal, who was chairing the proceedings, urged them to maintain decorum and allow the House to take up the resolution against Birla. Pal reminded the opposition that the no-confidence resolution against the Speaker was already on the House agenda, and their adjournment notice seeking debate on the West Asia crisis could not be taken up. He accused the opposition of wasting taxpayers' money -- about Rs 9 crore per day -- by holding the House "hostage" to its
At least 100 international flights were cancelled at the Delhi and Mumbai airports on Saturday as the Middle East crisis continued to impact flight operations. As many as 35 departures and 36 arrivals were cancelled at the Mumbai airport while 22 departures and 17 arrivals were cancelled at the Delhi airport, according to officials. Delhi airport operator DIAL, in a post on X, said due to the current situation in the Middle East, some west-bound international flights may experience delays or schedule changes. The conflict involving the US, Israel, and Iran that started on February 28 has significantly impacted flight operations as some of the airspaces in the Middle East are closed. Many airlines are only operating a limited number of services.
The price of oil surged higher and showed no signs of halting its rapid climb a week after the US and Israel launched major attacks on Iran that escalated into a war in the Middle East. The conflict, in which nearly every country in the Middle East has sustained damage from missiles or drone strikes, has left ships that carry roughly 20 million barrels of oil a day stranded in the Persian Gulf, unable to safely pass through the Strait of Hormuz, the narrow mouth of the Gulf that is bordered on its north side by Iran. The disruption and damage to key oil and gas facilities in the Middle East has led to an interruption in the supply of oil and gas. Oil prices surpassed $90 a barrel Friday, with American crude settling at $90.90, up 36% from a week ago, and Brent, the international standard, climbing 27% over the course of the week to land at $92.69. The fallout is ratcheting up what consumers and business will pay for gasoline, diesel and jet fuel, with some drivers already feeling i
The Central Board of Secondary Education (CBSE) on Saturday postponed the Class 12 board exams scheduled on March 9, 10 and 11 in the Middle East region amid the Iran-Israel conflict, officials said. "Due to the current situation in parts of the Middle East--Bahrain, Iran, Kuwait, Oman, Qatar, Saudi Arabia and UAE, the board has decided to postpone 12 exams on March 9, 10 and 11," said CBSE Examination Controller Sanyam Bhardwaj. The new dates will be announced later, and for further exams, the situation will be reviewed on March 10, Bhardwaj added. Previously, the board had postponed the exam scheduled on March 2, March 5 and March 7 in the region. The board has cancelled Class 10 exams till March 11 and said mode of declaration of results will be announced separately. The US and Israel launched military strikes on Iran on February 28, killing Iranian Supreme Leader Ayatollah Ali Khamenei. Following the military offensive, Iran has carried out a wave of attacks mainly targeting
India's agri and food products exports worth USD 11.8 billion to West Asia are at risk as the conflict in the region is disrupting shipping routes, raising insurance costs and creating uncertainty in logistics, think tank GTRI said on Saturday. In 2025, India exported about USD 11.8 billion of agricultural and food products such as cereals, fruits, vegetables, dairy products, and spices to West Asia, accounting for 21.8 per cent of India's total exports in this sector. "The Gulf region's geographic proximity and large expatriate Indian population have historically made it a natural market for India's food exports. "However, the conflict in the region is disrupting shipping routes, raising insurance costs and creating uncertainty in logistics," the Global Trade Research Initiative (GTRI) said. India exported USD 7.48 billion of cereals, fruits, vegetables and spices to West Asia in 2025, with the region accounting for 29.2 per cent of India's global exports in this category. Key ..
Union Shipping, Ports and Waterways Ministry has proposed that ports may consider requests regarding reduction, waiver or remission of charges, including change of vessel charge, and also rolled out a standard operating procedure (SoP) for them to deal with issues arising from the West Asia crisis. As part of the SoP that followed extensive consultations with all stakeholders on Friday, each port will appoint a nodal officer at the level of head of department or deputy head of department, who will be the single point of contact for addressing the issues coming up for consideration at ports. The nodal officer will be responsible for taking up the matter with the competent authority and ensure that the action is taken within 24-72 hours. Also, as per the SoP, port chairpersons should have periodical meetings with stakeholders such as shipping lines, exporters, terminal operators, customs, among others to closely monitor the situation and ascertain and address legitimate concerns. The
The government has granted certain relaxations to exporters in fulfilling their export obligations, as the trading community is facing difficulties in the movement of goods due to the ongoing West Asia crisis, according to a notification. "In view of the prevailing geo-political developments affecting international shipping routes and global supply chains, and with a view to facilitating exporters, the export obligation (EO) period/block wise EO period in respect of specified advance authorisations and EPCG authorisations expiring between March 1, 2026 and May 31, 2026 has been automatically extended up to August 31, 2026 without payment of composition fee," the Directorate General of Foreign Trade (DGFT) has said in a public notice. Under Export Promotion Capital Goods (EPCG) scheme, domestic firms are allowed to import duty-free machines but they have to meet certain export obligations against that. This relaxation is in addition to the existing facility already available under ..