Explore Business Standard
West Asia And The Gulf
Export of basmati and boiled non-basmati rice from Madhya Pradesh to several countries has been severely impacted by the West Asia crisis, stakeholders in the sector said on Saturday. Basmati rice from Raisen and boiled non-basmati rice from Balaghat have a distinct identity and are exported to many foreign countries, including the Gulf, they pointed out. "Basmati rice destined for export from Raisen district is stuck in ports, factories and warehouses. Freight rates have increased by 30 per cent, and there is a shortage of containers. Exporters are also facing backlog of goods at ports. All this has made it difficult to fulfil orders on time," Ajay Bhalotia, All India Rice Exporters Association general secretary, told PTI. More than two dozen rice factories operate in Mandideep, Satlapur, Obedullaganj, Raisen, Bareilly, Udaypura, and Umraoganj areas of Raisen district, with high-quality basmati rice making its way to markets in Iran, Iraq, Saudi Arabia, Jordan, Dubai, etc, he ...
Israel said Wednesday it killed another top Iranian official, the third in two days, while Iran lashed out with attacks on its Persian Gulf neighbours and Israel, using some of its latest missiles to evade air defences and killing two people near Tel Aviv as the war in the Middle East showed no signs of slowing. Israeli Defence Minister Israel Katz said Iranian Intelligence Minister Esmail Khatib had been killed in an overnight strike and promised that "significant surprises are expected throughout this day on all fronts," without elaborating. Iran did not immediately confirm Khatib's death. Israel killed top Iranian security official Ali Larijani and the head of the paramilitary Revolutionary Guard's Basij force on Tuesday. In Lebanon, Israel kept up its intense pressure with strikes it said targeted Iran-backed Hezbollah militants, hitting multiple apartment buildings in Beirut and killing at least a dozen people. In Iran, the Bushehr nuclear power plant complex was hit by a ...
Iran launched strikes toward Israel and neighbouring Gulf countries early Wednesday, with explosions heard in the United Arab Emirates and Qatar and interceptions reported in Saudi Arabia. The attacks came hours after Iranian state media confirmed Israel's military killed top Iranian security official Ali Larijani in an overnight strike, as well as Gen. Gholam Reza Soleimani, the head of the Revolutionary Guard's Basij force, known for its role in suppressing protests. An Israeli airstrike struck an apartment building in Bachoura, central Beirut, completely flattening it as day broke. Two earlier strikes on residential apartments in other central Beirut neighbourhoods early Wednesday killed at least six people and wounded 24 others, according to the Lebanese Health Ministry. Israeli strikes targeting central Beirut have become increasingly frequent in recent days, with or without prior warning. The attacks have hit far from the city's southern suburbs, for which the army issued ...
Pilots' body ALPA India on Tuesday asked its members to ensure that airline operators carry out "appropriate operational risk assessments" before planning flights in or near conflict-affected areas. The Air Line Pilots Association (ALPA) India, in an advisory to all pilots under an Indian licence, said that the pilots must remain aware that the risk environment in conflict-affected areas can change rapidly and without adequate warning. The advisory has come amid the escalating war in West Asia, involving the US, Israel and Iran, which has led to cancellations of a number of flights due to airspace closures since February 28. The pilots' body said that members are advised to take note of the potential implications related to aviation insurance coverage, particularly with respect to war-risk clauses. Under certain circumstances, insurance providers may withdraw or limit coverage for operations conducted in designated conflict zones or high-risk airspaces, it said. ALPA India is an .
The Bharat Chamber of Commerce (BCC) wrote to RBI Governor Sanjay Malhotra, urging supportive banking measures for exporters reeling under disruptions in global logistics and shipping routes caused by ongoing tensions in West Asia. In a letter on Monday, it said West Asia serves not only as a key destination for Indian exports but also as a critical transhipment hub for shipments bound for Europe and Africa. "The ongoing situation has led to diversion of shipping routes, port congestion, higher freight and insurance costs, and extended transit periods, straining working capital cycles and liquidity positions of exporters," it said. The BCC urged RBI to encourage banks to adopt a supportive credit approach by enhancing working capital limits, providing ad-hoc credit facilities, and extending the tenure of pre-shipment and post-shipment export credit. Greater flexibility in rollover of packing credit and extension of due dates for export bills was also sought. It also requested ...
Middle Eastern sovereign wealth funds and state-backed companies are unlikely to scale back renewable energy investments in Africa despite disruptions from the Iran war, analysts say, given the strong long-term economic and strategic reasons driving such funding. Investors made wealthy by the Gulf region's abundant oil and gas increasingly are turning to Africa's clean energy sector, attracted by rising electricity demand, rapid urbanization and the continent's growing role in global supply chains tied to critical minerals and manufacturing. A report released last month by the Clean Air Task Force found that more than $101.9 billion had flowed into Africa's renewable energy sector from Gulf countries by end of 2024, led by the United Arab Emirates, Saudi Arabia, Qatar, Kuwait and Bahrain. Much of the investment has been concentrated in North Africa, Southern Africa and parts of East Africa, while West Africa has attracted relatively limited funding. "Africa remains one of the few ..