Page 43 - Latest Updates on West Asia Conflict

Inflation dynamics: Ongoing Iran conflict will complicate policy choices

Research has shown that both the inflation rate and volatility moderated after the adoption of the flexible inflation-targeting framework

Spain closes airspace to US planes linked to Iran conflict, says minister

Spain has closed its airspace to US planes involved in the Iran war, Defence Minister Margarita Robles said Monday. Spain had already said the US could not use jointly operated military bases in the country for operations related to the Middle East conflict. "This was made perfectly clear to the American military and forces from the very beginning. Therefore, neither the bases are authorised, nor, of course, is the use of Spanish airspace authorised for any actions related to the war in Iran," Robles told reporters. Spain's government under Prime Minister Pedro Sanchez has been Europe's most critical voice of US and Israeli military actions in the Middle East. "I think everyone knows Spain's position; it's very clear," Robles said, calling the war in Iran "profoundly illegal and profoundly unjust.

Will blow up Iran's energy sites if no ceasefire is reached soon: Trump

In a social media post, Trump said the United States would "conclude its 'lovely' stay" by blowing up Iran's civilian and energy infrastructure

A weak rupee, high oil prices pose a double whammy for India's import bill

A weaker rupee and a war-led jump in crude may make India pay more for imports, affecting headline inflation as well as the trade deficit

Why Iran war has forced India to bring kerosene back to the kitchens

Kerosene, once widely subsidised and used in India, was phased out with LPG expansion; now, amid global supply disruptions, the fuel is making a temporary return to households

Fire breaks out near Israeli oil refinery after Iranian missile attack

A fire broke out on Monday at an oil refinery in the northern Israeli city of Haifa for the second time during the monthlong war with Iran, according to footage from the scene. Video showed flames on a large refinery tank with thick black smoke that was quickly extinguished by Israel's fire and rescue services. It wasn't clear if it was a missile strike or debris that caused the blaze. Israel only has two refineries and the attack comes as Israel has launched attacks targeting Iran's South Pars natural gas field and as other petrochemical sites have been hit in the Islamic Republic during the war.

Over 4 in 10 households face LPG delays; black market sales rise: Survey

A new LocalCircles survey found that 43% of household consumers reported experiencing LPG delays in the last week, indicating that nearly half of the respondents struggled to get timely deliveries

Govt in talks with tech industry, no impact seen from Iran war: Vaishnaw

The government is in dialogue with hi-tech industry associations on the West Asia conflict and its impact on the ecosystem, and industry bodies have not reported any adverse impact on their operations, Union Minister Ashwini Vaishnaw said on Monday. The Electronics and IT Minister's comments came amid reports that the helium crunch has started impacting global tech supply chains. "We have asked every industry association here, and each one has said that so far there is no impact... This includes semiconductors, mobile, electronics components, and hardware space...It is an evolving situation. So, we will continue interacting with the industry," Vaishnaw told reporters. The industry believes that the West Asia crisis will not be prolonged, he said.

War disrupts life on Iraq-Iran border, isolates families, halts trade

To speak with his mother inside Iran, Yaser Fattahi waits in self-exile in Iraq for brief calls arranged by a cousin back home who travels close to the border between the neighbouring countries where he can pick up a signal to connect them. Fattahi fled to neighbouring Iraq in December, fearing arrest over his participation in anti-government protests in Iran. A trained nurse, he was caring for wounded protesters in their homes so they wouldn't have to seek care in state-run hospitals that were under surveillance. Now, as the war intensifies, he worries constantly for his mother's safety amid US and Israeli bombardment. The war has disrupted telecommunications and concentrated Iranian forces along the frontier, choking off communications and trade for many. When Fattahi's cousin can make it to the border, he calls over WhatsApp using one phone with an Iraqi SIM card and then connects to Fattahi's mother using another phone with the Iranian cell network. "The calls last a minute or

Iran confirms death of Revolutionary Guard navy chief Alireza Tangsiri

Iran on Monday confirmed the death of Revolutionary Guard navy chief Alireza Tangsiri. Israel had claimed on Thursday that it killed Tangsiri, a rear admiral in the Iran navy. A statement from the Guard on Monday, read on state television, said Tangsiri "joined the ranks of Allah due to the severity of his injuries." It praised his efforts, particularly in helping Iran maintain a chokehold on the Strait of Hormuz. "Every fighter is a Tangsiri, and we will see what surprises they will bring in the days and months ahead," the statement added.

US sees first combat loss of valuable E-3 AWACS jet after Iranian strike

The so-called AWACS plane, which has a rotating radar disc mounted above its fuselage, is used to spot distant threats and direct other combat aircraft

One Indian killed as Iranian strikes hit Kuwait's water desalination plant

The Indian Embassy in Kuwait expressed condolences upon the death of an Indian national due to an attack on a desalination facility

Chinese cargoes signal fuel relief for Asian neighbours despite curbs

China, a major Asian fuel exporter, halted overseas oil product sales, forcing refiners to cancel or renegotiate shipments to prioritise domestic supply

Australia to halve tax on fuel, underwrite spot cargoes driven by Iran war

Halving the tax would reduce the cost of fuel by 26.3 Australian cents per litre, PM Albanese said

Israel approves revised war budget to $222 bn extending reliance on debt

The spending plan, approved by Knesset lawmakers early Monday in a vote of 62 to 55, totals 699 billion shekels ($222 billion) and sets a deficit target of 4.9 per cent of gross domestic product

West Asia war's gas supply shock pushes top consumers back to coal

Gas prices in Europe and Asia have yet to reach 2022 levels, but they have already soared - pricing many emerging economies out, with industrial clients already severely impacted across Asia

How do Israel and Iran's nuclear status differ under international law?

Difference stems from NPT obligations and state consent, not a legal contradiction

Foreigners dump record $12 bn Indian equities amid Iran war, energy crisis

Soaring energy costs have hurt oil-importing Asian peers, but the scale of outflows from India points to already bearish global sentiment

West Asia war volatility strains trading in world's biggest markets

None of the world's biggest markets, from US Treasuries, to gold, to currencies have been spared, investors and traders said

Gold finds footing near $4,500 as West Asia conflict enters fifth week

Bullion recovered some early losses to hold near $4,500 an ounce, showing resilience despite the continued rise in oil prices and downturn in equities