Explore Business Standard
Tehran
The government has taken a host of measures to mitigate external risks, support the balance of payments, and maintain macroeconomic stability amid the ongoing West Asia crisis, Minister of State for Finance Pankaj Chaudhary said on Monday. In a written reply to a question in the Lok Sabha, Chaudhary said the government is consistently reviewing and closely monitoring the economic impact of the ongoing West Asia conflict at the highest levels and taking immediate corrective and facilitative measures as warranted. Seven new empowered groups have been constituted to undertake swift and far-reaching action on supply chains, petrol-diesel, fertilisers, gas and inflation. In addition, an Inter-Ministerial Group on supply chain resilience has been operationalised to monitor the situation and coordinate facilitation measures related to exports and imports. To a question on the extent by which the GDP growth and foreign investment is likely to be affected due to the crisis, Chaudhary said, .
A strike on the Javadieh neighbourhood of southern Tehran on Friday hit a police station and several surrounding buildings. Elham Movagghari, a resident of the area who spoke to journalists Sunday, said she was shocked by the attack. "We were confused and didn't know what had happened," she said. "We just ran away." Another resident, Hossein Ghardashi, said the strike threw him across the room. "When I got up and came to my senses, I saw that two or three pieces of glass had gone into my face and head" he said. Italy's defence chief says drone hit base in Kuwait housing Italian, US forces ---------------------------------------------------------------------------- Italy's chief of defence staff Gen Luciano Portolano said the attack on the Ali Al Salem base occurred on Sunday morning and destroyed an Italian drone inside a shelter on the base. No Italian personnel were injured, he said, in comments posted on X. Italian troops are stationed at the base as part of a coalition tas
Israel's military warned people Thursday to evacuate the area around Iran's Arak heavy water reactor. The warning came in a social media post on X. It included a satellite image of the plant in a red circle like other warnings that proceeded strikes. The Arak heavy water reactor is 250 kilometers (155 miles) southwest of Tehran. Heavy water helps cool nuclear reactors, but it produces plutonium as a byproduct that can potentially be used in nuclear weapons. That would provide Iran another path to the bomb beyond enriched uranium, should it choose to pursue the weapon. Iran had agreed under its 2015 nuclear deal with world powers to redesign the facility to relieve proliferation concerns. In 2019, Iran started up the heavy water reactor's secondary circuit, which at the time did not violate Tehran's 2015 nuclear deal with world powers. Britain at the time was helping Iran redesign the Arak reactor to limit the amount of plutonium it produces, stepping in for the U.S., which had ..
India on Wednesday announced launching 'Operation Sindhu' to evacuate Indian nationals from Iran as the conflict between Iran and Israel showed no sign of letting up. "India accords highest priority to the safety and security of Indian nationals abroad," the Ministry of External Affairs (MEA) said. More than 4,000 Indian nationals are living in Iran and half of them are students. The MEA said the Indian embassy in Tehran has evacuated 110 Indian students from northern Iran, assisting them in safely crossing over into Armenia on Tuesday. The students have travelled by road to the Armenian capital, Yerevan, under the supervision of the Indian missions in Iran and Armenia. "These students departed Yerevan on a special flight at 1455 hours on June 18 and will arrive in New Delhi in the early hours of June 19 as part of the initial stages of Operation Sindhu," the MEA said. New Delhi said it is grateful to the governments of Iran and Armenia for the smooth facilitation of the evacuati