Page 8 - Latest Updates on West Asia Conflict

Pakistan conveys revised Iranian peace proposal to US amid fragile truce

Fragile ceasefire remains under strain as Tehran, Washington continue to differ over nuclear programme and Strait of Hormuz

Iran announces new authority to regulate shipping, tolls through Hormuz

Iran's top security body said the newly formed Persian Gulf Strait Authority (PGSA) would regulate and administer transit operations in the Strait of Hormuz

Oil touches 2-week high after drone attack on UAE nuclear power plant

Brent ‌crude futures climbed $1.65, or 1.51 per cent, to $110.91 a barrel by 0703 GMT, but were off the $112 they had touched earlier for their highest since May 5

Rupee hits record low of 96.25 against US dollar amid oil price surge

At the interbank foreign exchange market, the rupee opened at 96.19, then fell further to 96.25 against the US dollar, registering a fall of 44 paise from its previous close

Dangerous escalation: India condemns attack on UAE's Barakah nuclear plant

Expressing its concerns, the Ministry of External Affairs on Monday said that such actions are 'unacceptable' and represent a 'dangerous escalation'

Iran war cripples Qatar's gas-powered economy as Hormuz crisis deepens

Iranian attacks and the stoppage of seaborne transit have paralyzed Qatar's vital gas exports, stalling the economic pivots intended to anchor the country's growth

Asian shares slip as drone attacks in Gulf lift oil prices, bond yields

Japan's Nikkei eased 0.4 per cent, having fallen 2 per cent last week, though that was from record highs

China committed to US on not providing material support to Iran: USTR

US Trade Representative Jamieson Greer has said that President Donald Trump secured a commitment from China not to "provide material support to Iran." In an interview with ABC News on Sunday, Greer explained that the United States did not ask China for direct assistance in reopening the Strait of Hormuz. "When the president went in, he did not go in asking them to take action in the Straits of Hormuz. He was very focused on making sure that they didn't provide material support to Iran. That's a commitment he obtained and confirmed," Greer said on ABC News' "This Week." Greer noted that China has "a clear interest" in reopening the strait but does not want to get involved directly. "The president isn't seeking to have joint military operations with the Chinese. I don't think the American presidents have ever done that," Greer said. "But obviously we want to make sure that they're not getting in the way of anything we're doing to try to clarify that situation," he said. While the U

'Clock is ticking': Trump warns Iran to move fast amid stalled talks

'For Iran, the Clock is Ticking, and they better get moving, FAST, or there won't be anything left of them', Trump wrote in a Truth Social post

US-Iran conflict, oil prices likely to drive stock markets this week

The US-Iran conflict, FII flows and crude oil prices will be the major drivers for Dalal Street this week, with inflation adding to investor anxiety, say analysts. Besides, the rupee's movement, which crashed below the 96 mark against the US dollar last week, would also influence trading sentiment. "Participants will closely monitor developments in the ongoing US-Iran conflict and their implications for crude oil prices, inflation, and global risk sentiment. Movements in energy markets and the rupee will continue to influence near-term market direction," Ajit Mishra SVP, Research, Religare Broking Ltd, said. The rupee crashed below the 96/USD mark on Friday amid elevated crude oil prices and inflation concerns. "Markets are expected to remain highly volatile and intensely headline-driven, with investor sentiment continuing to hinge on developments surrounding the ongoing USIran conflict, diplomatic negotiations and movements in global energy markets," Ponmudi R, CEO - Enrich Money

Iran plans new Hormuz traffic mechanism, fees for vessels to apply

Ebrahim Azizi, head of Iran parliament's national security committee, said details of the route system would be unveiled soon

Centre launches short Hajj package, reduces stay from 45 to 20 days

The union government on Saturday announced the launch of a short Hajj package for Indian pilgrims, particularly professionals, this year, aimed at reducing the duration of the pilgrimage while maintaining all essential rituals. The initiative has been introduced on the request of pilgrims working in business and professional sectors who find it difficult to spend 40 to 45 days away from work, office of Union Minister of State for Minority Affairs, George Kurian, said in a statement here. Under the new arrangement, pilgrims will be able to complete the Hajj rituals and return within around 20 days, instead of the usual extended stay. According to it, around 10,000 pilgrims will travel under this special scheme. "Based on feedback received from pilgrims, particularly working professionals and businesspersons, seeking an option to return early upon completion of the core Hajj rituals, a Short Hajj Package has been introduced for Hajj 2026 for the first time. "Under this category, 10,

Back from China, Trump faces decision on whether to resume strikes on Iran

Top aides have drafted battle plans as peace negotiations have stalled

Israel, Lebanon agree to 45-day extension of ceasefire after US talks

Israel and Lebanon have agreed to a 45-day extension of their ceasefire after another round of talks in Washington, the US State Department said Friday. It comes after two "productive" days of talks, and will be followed by more negotiations June 2-3, State Department spokesman Tommy Pigott said. A shaky truce between Israel and the Hezbollah militant group in Lebanon had been due to end on Sunday. "We hope these discussions will advance lasting peace between the two countries, full recognition of each other's sovereignty and territorial integrity, and establishing genuine security along their shared border," Pigott said on social media.

Best of BS Opinion: Can middle powers prevent transactional geopolitics?

From the rise of transactional geopolitics to oil shock risks and Pakistan's strategic missteps, BS Opinion examines the global uncertainties shaping politics and business

OMCs hike petrol, diesel prices by Rs 3 per litre amid mounting losses

Petrol now costs ₹97.77 per litre in Delhi, up from ₹94.77 a litre earlier, while diesel prices have been raised to ₹90.67 per litre

Iran has 'no trust' in US, will negotiate only if it is serious: Araghchi

Speaking in New Delhi during the Brics foreign ministers' meeting, Araghchi said Iran is working to maintain the ceasefire to allow diplomacy an opportunity to move forward

India ready to offer support for West Asia peace: PM Modi during UAE talks

India is ready to extend all possible support to bring peace in West Asia, Prime Minister Narendra Modi said on Friday during his talks with UAE President Sheikh Mohammed bin Zayed Al Nahyan. The Modi-Al Nahyan meeting took place shortly after the prime minister landed in the Gulf nation in the first leg of his five-nation tour that also includes four European countries. We condemned the attacks on the UAE, Modi said in his opening remarks in the meeting with the UAE leader. The UAE, which hosts a prominent US military base, has been at the receiving end of Iranian strikes during the ongoing US-Israeli war on Iran. Modi further said, "The way UAE has been targeted is not acceptable" but "the way UAE has handled the current situation with restraint is praiseworthy." The prime minister highlighted how the impact of the West Asian conflict is being felt globally, adding: "India is ready to extend all possible support to bring peace in West Asia.: The prime minister was received at t

Rupee slides to record low past 96/$ as oil nears $110 per barrel

The rupee opened on a weaker note and fell 30 paise to 95.94 on Friday after hitting new lows over three straight sessions, as elevated crude oil prices, a strong dollar, and concerns over the West Asia crisis weighed on investor sentiment. Forex traders said USDINR is under pressure and hovering very close to the 96 mark as dollar buying continues amid upside in oil prices. Moreover, the Summit between US President Trump and Chinese President Xi did not yield any fruitful results, particularly on the US-Iran front, denting investor sentiments further. The USD/INR pair, which had slumped to 95.96 against the American currency on Thursday, recovered sharply after reports surfaced that India is considering a major cut in taxes paid by foreign investors on Indian bonds. On Friday, the government hiked the petrol and diesel prices by Rs 3 per liter in the latest move to curb the demand of these fuels. At the interbank foreign exchange market, the rupee opened at 95.86, then fell furth

Indian OMCs source crude at competitive rates in March amid Iran war

March crude procurement costs for Indian OMCs remained steady year-on-year in dollar terms and rose only slightly from February, despite the West Asia conflict