Page 27 - Israel Iran Conflict

Iran hits tanker off coast of Qatar; Israel kills 5 in Beirut attack

Iran hit a tanker off the coast of Qatar and Kuwait International Airport early Wednesday as Tehran remained unrelenting in its attacks on its Gulf Arab neighbours, while acknowledging for the first time that Washington had been in direct contact about a possible ceasefire. Israel sounded warnings of incoming fire from both Yemen and Iran, while launching its own attacks in Lebanon that killed at least five people. An airstrike on Tehran appeared to have hit the former US Embassy compound, which has been controlled by Iran's Revolutionary Guard since the 1979 hostage crisis. Witnesses said buildings outside the massive compound had their windows blown out and that it appears the strike happened inside the walled facility. With no sign of the war abating and more than 3,000 lives already lost, US President Donald Trump suggested it could be over within two weeks even as he moved to bring thousands more troops to the region. No signs of Iran relinquishing grip on Strait of Hormuz ...

How Iran war is fuelling a global aviation crisis as jet fuel prices spike

Jet fuel prices, the single largest cost component for airlines, have surged sharply since February and are now forcing airlines globally to raise fares and activate emergency cost controls

Commercial LPG prices hiked by ₹195.5 amid escalating West Asia conflict

Prices of commercial LPG were hiked by Rs 195.50 on Wednesday, on back of surge in global oil prices linked to the widening West Asia conflict. A 19-kg commercial LPG now costs Rs 2,078.50 in Delhi, according to state-owned oil companies. Rates were last increased by Rs 114.5 per 19-kg cylinder on March 1. Domestic cooking gas LPG rates, which were last hiked by Rs 60 per 14.2-kg cylinder on March 7, remain unchanged. It costs Rs 913 per 14.2-kg cylinder in Delhi. State-owned Indian Oil Corporation, Bharat Petroleum, and Hindustan Petroleum revise ATF and LPG prices on the first day of every month based on international benchmarks and the exchange rate. Global oil prices have shot up almost 50 per cent after the war in West Asia disrupted energy supply chains. Petrol and diesel prices continue to remain frozen after a Rs 2 per-litre reduction in March last year; petrol currently costs Rs 94.72 per litre in Delhi and diesel Rs 87.62.

RoDTEP benefits for exporters extended till Sep 30 amid Iran crisis

The government has extended fiscal benefits under the RoDTEP scheme for exporters by six months, until September 30, amid disruptions to global trade caused by the ongoing West Asia crisis. The Remission of Duties and Taxes on Exported Products (RoDTEP) Scheme, launched in 2021, provides for a refund of taxes, duties and levies that are incurred by exporters in the process of manufacturing and distribution of goods, and not being reimbursed under any other mechanism at the Centre, state or local level. Refunds under the scheme range from 0.3 per cent to 3.9 per cent. The scheme was valid till March 31, this year. "Eligible exports made during the period from April 1 to Sep 30, 2026 shall continue to be entitled to RoDTEP benefit at the rates and value caps in force as on March 31, subject to the existing terms and conditions of the scheme," the Directorate General of Foreign Trade (DGFT) has said in a notification. The budget allocation under the scheme for 2025-26 was Rs 18,232 ..

Indian Oil hikes premium petrol, diesel prices amid West Asia tensions

Indian Oil has hiked XP100 petrol price from ₹149 to ₹160 per litre and Xtra Green diesel from ₹91.49 to ₹92.99 per litre in Delhi

More than 4k targets hit, over 10k terror components struck in Iran: Israel

IDF said more than 4,000 targets and more than 10,000 terror components were attacked

West Asia conflict may push up realty construction costs by 5% in near term

The escalating West Asia conflict is beginning to exert cost pressure on India's real estate sector, with material prices rising and industry leaders warning of a potential 5 per cent spike in construction costs if hostilities persist through April. Construction schedules are also likely to be affected because of shortage of materials and resources if the conflict prolongs. Harshavardhan Neotia, Chairman of Ambuja Neotia Group, said the crisis is triggering a "classic cost-push cycle" for real estate, with crude oil moving from sub-USD70 levels in February to well above USD 110120 per barrel in March and natural gas witnessing sharp spikes. "Early pressure is already visible across steel, logistics, and petrochemical-linked materials. If this persists, construction costs could rise meaningfully over the next 12 quarters, which may have a bearing on pricing going forward," Neotia said. Sushil Mohta, President of CREDAI West Bengal and Chairman of Merlin Group, struck a more immediat

Iran conflict threatens to wreck Trump's dream of lower interest rates

Energy shock fuels inflation fears as markets push back rate-cut expectations

West Asia war: Trump says conflict may end in 2-3 weeks; Brent at $104

President Donald Trump said the West Asia conflict could end in two to three weeks, while Iran signalled it is open to ending hostilities if it receives firm guarantees against future strikes

Iran foreign minister slams US 'America First' policy amid war tensions

Iranian Foreign Minister criticises US stance, says trust deficit blocks talks

Trump seeks to redefine 'regime change' in Iran war amid confusion

President Trump and his aides have made contradictory statements on whether the United States and Israel have transformed the Iranian government through violence

Systematically crushing Iran, forging alliances in West Asia: Netanyahu

Lauding "enormous accomplishments" in the war against Iran, Israel Prime Minister Benjamin Netanyahu said Tuesday evening that the joint Israel-US campaign was "systematically crushing" the Islamic regime while removing existential threats to the Jewish state. Addressing the nation in Hebrew ahead of the Jewish festival of Pesach (Passover), Netanyahu stressed that "sooner or later" the Iranian regime will fall, while Israel creates "new alliances with important countries in the region" against the shared threat emanating from Tehran. The Israel prime minister did not mention any country but in the passing simply said he hopes that "soon, I will be able to tell you more about these vital alliances". "On the eve of this Festival of Freedom, Israel is stronger than ever. The entire world hears our lion's roar in our struggle against the evil regime in Iran, a struggle in which we have achieved immense, enormous accomplishments", Netanyahu said. The address came at a time when the nat

Israel strikes Iran factory, says it supplied fentanyl for chemical weapons

Israel said early Wednesday it struck a plant supplying Iran's theocracy with fentanyl, a powerful synthetic opioid, to allegedly use in a chemical weapons programme. Iran acknowledged the strike on Tofigh Daru factory, but insisted it only supplied "hospital drugs" used in medical operations. The strike happened Tuesday, both Israel and Iran said. Iran Foreign Minister Abbas Araghchi posted a picture of the factory in Tehran, writing on X: "The war criminals in Israel are now openly and unashamedly bombing pharmaceutical companies." Hospitals extensively use fentanyl to treat severe pain. But a small amount of the drug can be fatal. Both Israel and the United States have warned in recent years Iran was experimenting with fentanyl in munitions. The US previously pointed to Iranian academic research studying how Russia likely used a fentanyl derivative during the 2002 Moscow theatre hostage seizure by Chechen militants. Israel alleged Tofigh Daru supplied fentanyl to an advanced ..

Jaishankar discusses West Asia crisis with Portuguese counterpart Rangel

External Affairs Minister S Jaishankar on Tuesday spoke with his Portuguese counterpart Paulo Rangel as the two leaders exchanged views on the West Asia conflict besides discussing ways to further enhance bilateral cooperation. Jaishankar shared the update in a post on X. "A good conversation this evening with Portuguese Foreign Minister @PauloRangel_pt Exchanged views on the West Asia conflict. Also spoke about further strengthening bilateral cooperation," he said. Jaishankar has spoken to many of his counterparts from different countries since the conflict began a month ago. The MEA on Monday reiterated that it continues to closely monitor the evolving situation in the Gulf and West Asia region. "We continue to call for restraint and de-escalation, and at the same time emphasise on dialogue and diplomacy, as a means to an early end to the conflict," MEA spokesperson Randhir Jaiswal told reporters at an inter-ministerial briefing on the West Asia situation here a day ago.

Thousands more US troops heading to West Asia amid tensions with Iran

Thousands of additional US troops are heading to the Middle East as the Trump administration has insisted that progress has been made in talks with Iran and has threatened to escalate the war if a deal is not reached soon. The aircraft carrier USS George H W Bush deployed Tuesday and is slated to go to the Middle East along with three destroyers, two US officials said. The carrier strike group consists of more than 6,000 sailors. It comes as thousands of soldiers from the 82nd Airborne Division also have begun arriving in the Middle East, according to two other US officials, who, like the others, spoke on condition of anonymity to discuss sensitive military plans. While the majority of those troops are part of a rotation of forces planned before the war, some are among roughly 1,500 paratroopers the Trump administration decided to surge into the region last week. The Trump administration has not said what those troops will be doing, but the 82nd Airborne is trained to parachute int

Securing Strait of Hormuz is 'not for us': Trump lashes out at allies

US President Donald Trump lashed out Tuesday at allies who have been unwilling to do more to support the US war effort against Iran, telling them to "go get your own oil" and declaring that securing the Strait of Hormuz is "not for us." The president estimated that the American military will be done attacking in two to three weeks and said the US "will not have anything to do with" what happens in the strait that has been closed by the Islamic Republic. Instead, he told reporters that the responsibility for keeping the vital waterway open will rest with countries that rely on it. There's "no reason for us to do this," Trump said after signing an executive order that seeks to restrict mail-in voting. "That's not for us. That'll be for France. That'll be for whoever's using the strait." In other developments, the closure of the strait sent average US gas prices past USD 4 a gallon, and US strikes hit the central city of Isfahan, sending a massive fireball into the sky. Tehran attacked

IRGC threatens to strike Google, Apple, Meta offices over alleged espionage

IRGC warned that the companies' regional offices in the region will be 'annihilated'

'Firm guarantees' against future strikes required to end war: Iranian Prez

He emphasised that Iran has "never sought tension or war at any stage," but remains committed to defending its sovereignty

Iran war could end in two to three weeks, deal 'possible': Trump

The President's optimism appears to stem from a perceived shift in the political landscape within Tehran

Best of BS Opinion: Budget math meets oil shock as global faultlines widen

Here are the best of Business Standard's opinion pieces for today