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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