West Asia

Iran warns of blocking key Gulf trade routes as US plans tougher sanctions and ramps up pressure on Tehran. Here are the top updates at 10 am IST

Italian Premier Giorgia Meloni was supposed to be Europe's bridge to US President Donald Trump. It may be burning. After chastising Pope Leo XIV, Trump turned his ire on Meloni, long one of his closest European allies, for calling his papal broadside "unacceptable" and not backing the US-Israel war on Iran. "I thought she had courage,'' Trump said in an interview with leading Italian daily Corriere della Sera. "I was wrong." Meloni has not directly responded to Trump's attacks. But they may be to her advantage as she recovers from a decisive referendum defeat last month and as she seeks to dull the impact of the deeply unpopular Iran war, including higher energy prices. "I actually think this is a godsend for her,'' said Nathalie Tocci, a professor at Johns Hopkins SAIS Europe and the director of the International Affairs Institute. "Trump has become completely toxic across Europe, across much of the world, including Italy." Trump doubled down on Wednesday, saying their bond had .

Trump is confronting a crisis that is not bending to his narrative of a "pretty reasonable" new regime in Iran and all-but-assured victory for the United States

Weak monsoon fears, West Asia turmoil, and rising costs cloud outlook

Goods shipments in March at 1-year high, imports dip

The Ministry of Small and Medium Enterprises is in touch with the Department of Financial Services to explore an ECLGS-like credit guarantee scheme to support MSMEs amid the West Asia crisis, a senior official stated on Wednesday. Responding to a media query on whether a credit guarantee scheme was in the works for MSMEs, Additional Secretary in the Ministry of Micro Small and Medium Enterprises (MSMEs) Rajneesh said, "We are in constant touch with the Department of Financial Services regarding ECLGS kind of a mechanism. So, at an appropriate stage I will be in a position to share further details on this". The Emergency Credit Line Guarantee Scheme (ECLGS) was launched in May 2020 as part of Aatmanirbhar Bharat Abhiyan to support eligible MSMEs and enterprises in meeting their operational liabilities and restarting their businesses in the context of the disruption caused by the COVID-19 pandemic. The scheme covers all the sectors. Field officers of the MSME Ministry are in constant

Trump says ceasefire may not need extension, signals diplomacy as preferred path even as US operations continue and fresh talks with Iran are possible before the truce deadline

The US says it has enforced a blockade on Iranian ports; Trump says the war is 'close to over', but warns action will continue as talks may resume soon

The move follows comments from an Iranian official that domestic businesses were losing $30 million to $40 million a day due to the internet blackout

Stock prices ultimately reflect corporate earnings, not newspaper headlines. India's long-term story rests on fundamentals that geopolitics cannot easily touch

IMF has raised India's FY27 growth forecast to 6.5 per cent, saying lower US tariffs could offset the impact of West Asia tensions even as global growth and trade outlook weaken

India's pharmaceutical industry remains dependent on China for bulk drugs, particularly fermentation-based antibiotics, vitamins and intermediates

US envoy Sergio Gor teases 'big-ticket' deals, including on energy

As the inflation rate continues to rise, workers, including those at automobile and auto component makers, in Noida and Gurugram have protested low wages over the past few days

But the conflict has disrupted global growth, leaving China especially vulnerable as it has relied on foreign demand to offset a prolonged inability to revive consumption at home

West Asia tensions dent international travel demand, dragging down India's airline capacity in April despite steady domestic growth and rising fares

BNP Paribas cuts its 2026 Nifty target to 25,500, citing West Asia tensions, higher crude prices, and macroeconomic risks that could weigh on growth, earnings, and market valuations

West Asia conflict is expected to drag steel demand in key regions, while India remains the fastest-growing major market supported by infrastructure push and consumption trends

JNPA says it has maintained operational efficiency despite global supply disruptions, with improved container dwell time, steady cargo movement, and strong performance indicators in FY26