Page 44 - Latest Updates on West Asia Conflict

'Language reflects personality': Iran leader's envoy in India slams Trump

His remark came after Trump issued a strong warning to Iran to reopen the strategically vital Strait of Hormuz as the conflict in West Asia escalates

West Asia conflict: US, Iran explore 45-day ceasefire plan with mediators

The first phase would involve a 45-day ceasefire, during which negotiations toward a permanent end to the war would take place

Bank stocks' $95 billion rout may deepen as risks mount amid Iran war

Global investors withdrew a record ₹32,700 crore from the shares of financial services companies in the first two weeks of March, according to National Securities Depository data

Iranian foreign minister dials EAM Jaishankar, discusses West Asia crisis

External Affairs Minister S Jaishankar spoke to Iranian Foreign Minister Abbas Araghchi and Qatari Prime Minister Sheikh Mohammed bin Abdulrahman bin Jassim Al Thani on Sunday and discussed the West Asia conflict amid US President Donald Trump's fresh ultimatum to Iran demanding the reopening of the Strait of Hormuz. The external affairs minister also held a phone conversation with Foreign Minister of the United Arab Emirates Sheikh Abdullah bin Zayed Al Nahyan. It is understood that the conflict's impact on global energy supplies figured prominently in the talks. "Received a call from Foreign Minister @araghchi of Iran. Discussed the present situation," Jaishankar said on social media without elaborating. The Iranian embassy in New Delhi said the two foreign ministers discussed bilateral relations as well as regional and international developments. Jaishankar's phone conversations with leaders of the three West Asian nations came against the backdrop of a spike in tensions in the

Iran warns to respond 'in kind' to any US attacks on its energy infra

This came in response to US President's threats of military action against Iran if Tehran fails to reach an agreement with Washington to end the conflict and open the strategic Strait of Hormuz

Oil prices rise as Trump's threats to Iran heighten supply disruption fears

Brent crude futures rose $1.71, or 1.6 per cent, to $110.74 a ​barrel by 0057 GMT while US WTI was up 0.6 per cent, trading at $112.25 per barrel

Iran-linked groups target US diplomats in Iraq; Washington urges action

US Embassy in Baghdad, the US Consulate General in Erbil and the Baghdad Diplomatic Support Centre have been repeatedly targeted since the onset of the US-Israeli war with Iran

Trump issues ultimatum to hit Iran's power plants after US airman's rescue

Trump, in renewing his threats to target Iran's civilian infrastructure, used an expletive in social media post and told Axios he will be 'blowing up everything over there' if Iran doesn't make a deal

Best of BS Opinion: Iran conflict could trigger prolonged bear market

From US foreign policy risks and India's labour data changes to bear market fears and FCRA concerns, today's Best of BS Opinion brings together key insights shaping global and domestic debates

West Asia conflict: Predictable expenses likely to boost EV demand

CSEP study says high crude prices may accelerate EV transition, but electric cars will continue to rely on fiscal incentives to remain competitive with ICE vehicles till 2030

Moody's cuts India's FY27 GDP growth forecast to 6% amid West Asia war

Moody's Ratings has slashed India's economic growth estimates for the current fiscal to 6 per cent from 6.8 per cent earlier, saying the ongoing conflict in West Asia will moderate growth momentum and raise inflation risks. In its credit opinion report on India, Moody's said prolonged disruptions, particularly LPG shipments due to the conflict, would lead to near-term household shortages, higher fuel and transport costs, and spillovers to food inflation through India's reliance on imported fertilisers. The region accounts for around 55 per cent of crude oil imports and over 90 per cent of liquified petroleum gas (LPG) supplies to India. "While inflation remains contained for now, geopolitical risks have tilted the inflation outlook to the upside," Moody's said while projecting inflation to average 4.8 per cent in FY27, up from 2.4 per cent in FY26. With inflation risks re-emerging and growth remaining robust, policy rates are likely to be held steady or raised gradually in fiscal .

Iran war starts pinching US as gas prices, transport costs surge

The war against Iran has started to impact Americans, with Amazon announcing a fuel surcharge for its e-commerce deliveries and some airlines hiking fees for checked-in baggage to offset higher fuel costs. The average price of petrol in the US has increased to USD 4.09 a gallon on Friday, up more than one dollar from just before the war and the highest level since August 2022. The cost of diesel has risen sharply from USD 3.64 per gallon a year ago to USD 5.53 per gallon on Friday, according to data maintained by the American Automobile Association (AAA). Diesel is widely used in farming, construction and transportation, besides other industries. E-commerce giant Amazon also said that, beginning April 17, it plans to add a 3.5 per cent fuel surcharge on third-party sellers. The US Postal Service on Wednesday said it is seeking to impose a temporary 8 per cent fuel surcharge for package and express mail deliveries to deal with rising transportation costs. If approved by the Postal

CII 20-point agenda calls for coordinated response amid West Asia crisis

Industry lobby CII on Sunday outlined a 20-point agenda to mitigate the impact of the West Asia crisis, calling for measures including a temporary exemption from long-term capital gains tax for foreign investors in the primary market, the introduction of a time-bound Conflict-Linked Emergency Credit Line Guarantee Scheme and a three-month moratorium and restructuring window for MSMEs. CII proposed that priority sector lending (PSL) norms may be revisited to enable banks to respond more flexibly to sector-specific stress during external disruptions. It also suggested that the RBI could institute a Special Refinance Window for MSMEs and other affected sectors, among other measures, seeking their consideration by the government. To sustain foreign capital inflows into primary markets during a period of heightened global uncertainty, the Ministry of Finance may consider a temporary exemption from long-term capital gains tax for foreign investors in primary market investments, with the .

Fire breaks out at Borouge petrochemicals plant in UAE following attack

Authorities say a fire has broken out at a petrochemicals plant in the United Arab Emirates following an attack on Sunday. Abu Dhabi authorities responded to multiple fires at the Borouge petrochemicals plant. They say the fires were caused by falling debris following successful interceptions by air defence systems, but production at the plant has halted. The plant is in Ruwais, near the UAE's western border with Saudi Arabia. The plant is a joint venture of the Abu Dhabi National Oil Co. and Borealis of Australia.

'We got him': How US rescued crew member of F-15E jet downed by Iran

US special forces and air cover rescued injured colonel after more than a day behind enemy lines as Iranian forces searched the crash site

Gulf nations explore oil routes beyond Strait of Hormuz amid Iran war

Amid rising Iran tensions, Gulf nations are reportedly exploring pipelines and new trade corridors to reduce dependence on the Strait of Hormuz

Aid groups warn Iran war is hindering food, medicine from reaching millions

Aid groups are warning that the war in the Middle East has upended their ability to get food and medicine to millions of people around the world in need, and that the suffering will deepen if the violence continues. Not only has the conflict cut off vital shipping routes, creating a global energy crisis, it's also disrupting supply chains for aid groups, forcing them to use costlier, more time-consuming routes. Key pathways such as the Strait of Hormuz have been effectively shuttered and routes from strategic hubs such as Dubai, Doha and Abu Dhabi have also been impacted. Transport costs have spiked with higher fuel and insurance rates, meaning less supplies can be delivered with the same amount of money. The World Food Program says it has tens of thousands of metric tons of food heavily delayed in transit. The International Rescue Committee has USD 130,000 worth of pharmaceuticals intended for war-torn Sudan stranded in Dubai and nearly 670 boxes of therapeutic food meant for ...

Missing US airman rescued after fighter jet downed in Iran: Report

The rescue operation for the crew member of the F-15E fighter jet was conducted by a "specialised commando unit with a high volume of air cover," the report said

US inflation set to spike as energy prices rise amid West Asia war

Economists are penciling in a 1 per cent increase in the consumer price index for March - the sharpest one-month advance since 2022 - after the Iran war pushed gas prices up by about $1/gallon

Kuwait's oil ministry building set ablaze by Iranian drone strike

The damaged building, which also houses the emirate's oil ministry, was evacuated and firefighting crews were on the scene