Page 40 - Israel Iran Conflict

West Asia conflict likely to dent Q4 earnings of listed hotel majors

Geopolitical tensions may hit foreign tourist inflows, affecting occupancies and room rates even as domestic demand stays resilient; outlook hinges on conflict duration

Iran conflict hits global economy as surveys show rising inflation risks

The ensuing leap in the price of oil, gas and other related products is a potential double whammy for economies around the world, feeding through into wider inflation and stunting growth

Centre forms seven official panels to tackle impact of West Asia crisis

The first panel on defence, external affairs and public order is led by Foreign Secretary Vikram Misri, with Home Secretary Govind Mohan and Defence Secretary Rajesh Kumar Singh as members

Iran strikes Israel with fresh wave of missiles, mocks Trump's talks claim

Three senior Israeli officials said Trump appeared determined to reach a deal, but that they thought it highly unlikely Iran would agree to US demands in any new round of negotiations

Gold rebounds ₹1,200 to ₹1.44 lakh/10g in Delhi; silver stays flat

Gold prices snapped a four-day losing streak and climbed Rs 1,200 to Rs 1.44 lakh per 10 grams in the national capital on Tuesday, while silver remained flat at Rs 2.30 lakh per kilogram, according to the All India Sarafa Association. The precious metal of 99.9 per cent purity had closed at Rs 1,43,600 per 10 grams (inclusive of all taxes) on Monday. Traders attributed the rebound in domestic gold prices to a recovery in global commodity markets and some buying at lower levels after recent sharp declines. In the international markets, spot gold rebounded after nine sessions of losses, rising USD 16.96, or 0.38 per cent, to USD 4,423.83 per ounce, while silver was trading 1.03 per cent higher at USD 69.86 per ounce. "Spot gold, after falling for nine straight days, is trading steady at around USD 4,420 per ounce in the overseas trade on cautious optimism about the Iran war as the US President Donald Trump declared a five-day ceasefire on strikes against energy installations in Iran,

Iran names ex-IRGC commander as top security official after Larijani death

Iran named a former Iranian Revolutionary Guard commander as the new secretary of the country's Supreme National Security Council on Tuesday, replacing Ali Larijani, who was killed in an airstrike. Iranian state television identified the new secretary as Mohammad Bagher Zolghadr. Zolghadr reached the rank of brigadier general in the Guard. He had been serving as the secretary of Iran's Expediency Council.

Who is Mohammad Ghalibaf, the man Trump admin is eyeing for Iran talks?

As the West Asia crisis continues, the Trump administration is eyeing Iran's parliament speaker Mohammad Bagher Ghalibaf as a potential negotiator, though he denies any talks with the US

Rupee gains 0.1% to 93.86 after 3 day slide, traders remain cautious

The ‌rupee nudged up 0.1 per cent to end the session at 93.8650, from its close at 93.9750 in the previous session

India's LPG, oil shortage: HSBC explains why this energy shock is different

India is facing an energy crisis as the Strait of Hormuz remains shut amid Iran war. Analysts at HSBC assess the impact of LNG shortages on GDP, inflation, and fuel supply stability

Centre to hold all-party meeting on West Asia conflict on March 25

Earlier today, Defence Minister Rajnath Singh chaired a review meeting in the wake of recent global and regional security events, and also to review India's defence preparedness

Govt trying to procure gas, crude oil from all possible sources: PM Modi

Prime Minister Narendra Modi on Tuesday said the government is trying to procure gas and crude oil from all available sources, and efforts will continue in the coming days as the war in West Asia has created a serious energy crisis globally. In a statement in the Rajya Sabha, Modi said the war in West Asia is a cause of concern, and India wants peace in the region through dialogue and diplomacy. India's aim is de-escalation of the war and opening of Strait of Hormuz, he said, adding the country's attempt is to encourage all sections to peacefully resolve all issues. If the West Asia crisis persists for a longer period, serious consequences are imminent, the prime minister said. Commenting on India's efforts for energy security, he said in the past 11 years, 53 lakh MT strategic oil reserves have been created; work on 65 lakh MT additional capacity is on. Besides, the government has started a Rs 70,000-crore project to manufacture ships, he added.

Aluminium extrusion industry grappling with LPG, PNG crisis amid Iran war

The Aluminium Extrusion Manufacturers Association of India (ALEMA) has urged the government for urgent relief measures as the industry is grappling with severe LPG and PNG shortages triggered by the escalating West Asia crisis. The ALEMA has urged the government to implement urgent relief measures, including interest rate cuts and loan moratoriums. ALEMA, in a recent letter to the government, said the conflict in West Asia has severely disrupted supplies of liquefied petroleum gas (LPG) and piped natural gas (PNG), critical fuels for melting, heating and ageing processes in aluminium extrusion manufacturing. "Many extrusion units have been compelled to shut down or reduce production by 30-70 per cent due to acute shortages and supply prioritisation by the Ministry of Petroleum and Natural Gas," the association said. ALMA represents nearly 250 of India's 450 aluminium extrusion companies -- with 90 per cent being MSMEs. According to the association, without intervention, the ...

West Asia conflict: Pakistan seeks to mediate peace talks with US, Iran

Pakistan is leveraging close ties fostered with Trump, together with its longstanding bonds with neighbour Iran and other key players such as Saudi Arabia

India Flash PMI slips to 56.5 in March, weakest expansion since 2022

India's private sector growth slows to its weakest pace since late 2022 as soft domestic demand and rising costs weigh, even as export orders hit a record high

Traders bet $580 million on oil before Donald Trump's post on Iran talks

Traders reportedly placed $580 million in oil bets minutes before Donald Trump's post on Iran talks, triggering sharp moves in crude and stocks and raising questions over the timing of the trades

LPG crisis: Smaller 10 kg cylinders instead of 14 kg? Govt reviews plan

While a proposal to supply smaller refills is under consideration, petroleum ministry officials have termed reports of such a move as "highly speculative", urging consumers not to believe rumours

West Asia war: Iran sites hit despite US postponing strikes; Brent at $100

Strikes hit Iran's energy sites despite Donald Trump announcing a pause; oil prices rose to $100. Here are the top updates at 9 am

Strikes hit Iran energy sites hours after Trump pauses attack plan: Report

Strikes reportedly hit Iranian energy facilities in Isfahan and Khorramshahr hours after US President Donald Trump announced a pause on planned attacks after 'productive talks'

Asia boosts coal use as West Asia war squeezes global LNG supplies

Asian countries are turning to coal as the Iran war disrupts oil and gas shipments. The continent is exposed because it relies on imported fuel, much of it passing through the Strait of Hormuz - a chokepoint for about a fifth of global oil and natural gas trade. LNG is a natural gas cooled to liquid form for easy storage and transport. It has been promoted as a bridge fuel in the shift from oil and coal to cleaner energy sources. The US has sought to expand exports of LNG across Asia. It burns cleaner than coal, but still emits climate change-causing gases, especially methane. The war has countries shifting back to coal to cover LNG shortfalls. India is burning more coal to meet higher summer demand. South Korea has lifted caps on electricity from coal. Indonesia is prioritising using its domestic supply. Thailand, the Philippines and Vietnam are boosting coal-fired power. Burning more coal risks worsening smog in major cities, slowing the transition to renewable energy and increas

Iran-aligned militias attacking US citizens in Iraq, says US Dept of State

US cautioned its nationals to leave Iraq immediately