Page 18 - Middle East

US Prez Biden avoids further Mideast spiral as Israel, Iran show restraint

President Joe Biden can breathe a bit easier, at least for the moment, now that Israel and Iran appear to have stepped back from the brink of tipping the Middle East into all-out war. Israel's retaliatory strikes on Iran and Syria caused limited damage. The restrained action came after Biden urged Prime Minister Benjamin Netanyahu's government to temper its response to Iran's unprecedented direct attack on Israel last week and avoid an escalation of violence in the region. Iran's barrage of drones and missiles inflicted little damage and followed a suspected Israeli attack on the Iranian consulate in Damascus this month that killed two generals. Iran's public response to the Israeli strikes Friday also was muted, raising hopes that Israel-Iran tensions long carried out in the shadows with cyberattacks, assassinations and sabotage will stay at a simmer. The situation remains a delicate one for Biden as he gears up his reelection effort i n the face of headwinds in the Middle East,

Week of Iran-Israel strikes marks a 'game changer' in the Mideast

Business concerns about the situation spiked to their highest levels this week since the October 7 attacks, according to a survey by Oxford Economics

Oil prices jump slightly as Iran plays down reported Israeli attack

Iran is the third largest oil producer in the Organization of the Petroleum Exporting Countries (Opec)

As Israel fires missiles at Iran, Elon Musk shares message of peace

The development comes after Iran's state media reported explosions in the central province of Isfahan

As oil rises, rupee falls 6 paise to 83.58 against US dollar in early trade

The rupee depreciated 6 paise to 83.58 against the US dollar in early trade on Friday, weighed down by a negative trend in domestic equities and elevated crude oil prices. Forex traders said the strength of the American currency in the overseas market also dented investor sentiments. At the interbank foreign exchange, the rupee opened at 83.58 against the dollar, registering a fall of 6 paise over its previous close. The local unit pared the initial losses and also touched a high of 83.46 against the American currency in early trade on Friday. On Thursday, the rupee rebounded from its all-time low level and closed 9 paise higher at 83.52 against the US dollar Meanwhile, the dollar index, which gauges the greenback's strength against a basket of six currencies, was at 106.17, higher by 0.02 per cent. Brent crude futures, the global oil benchmark, rose 2.46 per cent to USD 89.25 per barrel. "Brent Oil prices moved up to USD 90.48 per barrel after Iran threatened to review its stan

Iran-Israel war: NSE Nifty index nears 100-DMA; Key levels to watch out for

The NSE Nifty 50 is seen quoting close to its 100-DMA for the first time in six months amid the rising geopolitical tensions in the Middle East. Here's what the Nifty chart suggests.

Asian Stocks sink, oil surges on reports of escalating Middle East conflict

Gold jumped 1.6 per cent to $2,414.69, heading back toward last week's all-time high at $2,431.29

Asian stock markets slide as Federal Reserve dithers on rate cuts

The MSCI Asia Pacific Index fell as much as 0.4% Wednesday before paring losses, with consumer discretionary and industrials among the biggest drags

Storm dumps 18 months' rain on parts of UAE, flooding roads, airport

Heavy thunderstorms lashed the United Arab Emirates on Tuesday, dumping over a year and a half's worth of rain on the desert city-state of Dubai in the span of hours as it flooded out portions of major highways and its international airport. Meanwhile, the death toll in separate heavy flooding in neighbouring Oman rose to 18 with others still missing as the sultanate prepared for the storm. The rains began late Monday, soaking the sands and roadways of Dubai with some 20 millimetres (0.79 inches) of rain, according to meteorological data collected at Dubai International Airport. The storms intensified around 9 a.m. local Tuesday and continued throughout the day, dumping more rain and hail onto the overwhelmed city. By the end of Tuesday, more than 142 millimetres (5.59 inches) of rainfall had soaked Dubai over 24 hours. An average year sees 94.7 millimetres (3.73 inches) of rain at Dubai International Airport, the world's busiest for international travel and a hub for the long-haul

13 dead, several injured after strike at Al-Maghazi refugee camp in Gaza

A graphic video obtained from eyewitness Nihad Owdetallah, showed several casualties lying on the floor

Gold prices hover near record high amid growing geopolitical tensions

Citi projected gold prices to trade at $3,000 per ounce over the next 6-18 months

Israel's military vows response to Iran attack as calls for restraint mount

The prospect of Israeli retaliation has alarmed many Iranians already enduring economic pain and tighter social and political controls since protests in 2022-23

Believe Iran will handle situation well, spare Mideast with turmoil: China

After briefing Wang on Iran's position, Amir-Abdollahian told Wang that Iran is aware of the regional tensions, is willing to exercise restraint and has no intention of further escalations

Rupee settles at record closing low amidst escalating tensions in West Asia

However, Indian rupee on Monday performed better than the majority of the Asian currencies

Shipping industry set for tougher times ahead due to tensions in West Asia

The global maritime industry is set for tougher and more challenging times after Iran ramped up West Asia tensions by launching an unprecedented drone and missile attack on Israel, causing supply chain disruption and increasing the probability of choking shipping routes, experts here have said. Iran's attack on Israel marks a distinct escalation in hostilities by bringing the two nations into direct conflict. Iran and its proxies launched 330 missiles and drones on Israel late on Saturday night in retaliation to an alleged attack by Israel on a diplomatic mission of the Islamic Republic in Damascus on April 1 in which several people, including two top commanders, were killed. There is a concern about the probability of a Persian Gulf shutdown, though many maintain hope of defusing fierce tension in the region, a delegate at the opening of Singapore Maritime Week on Monday, told PTI. The Persian Gulf is a Mediterranean Sea in West Asia. It is connected to the Gulf of Oman in the eas

Israel-Iran conflict: Missile attack adds to airline troubles in West Asia

Iran's attack on Israel by more than 300 missiles and drones, which were mostly shot down by Israel's US-backed missile defence system, caused chaos in the aviation industry

Will allow Indian authorities to meet crew members of seized vessel: Iran

Iranian Foreign Minister Hossein Amir-Abdollahian has said that Tehran will allow Indian authorities to meet 17 Indian crew members of a cargo vessel that was seized by the Iranian military near the Strait of Hormuz on Saturday. Amir-Abdollahian conveyed this to External Affairs Minister S Jaishankar during a telephonic conversation on Sunday, according to an Iranian readout. In the talks, Jaishankar called for release of the Indians onboard Portuguese-flagged cargo vessel MSC Aries. "We are following up on the details of the seized ship and soon it will be possible for the representatives of the Indian government to meet with the crew of the said ship," the Iranian readout quoted Amir-Abdollahian as saying. It said Jaishankar expressed his concern about the situation of the 17 Indian crew members and requested assistance from Iran in this regard. Special Naval Forces of Iran's Islamic Revolution Guards Corps (IRGC) seized 'MSC Aries' reportedly in view of its links with Israel.

Biden to host Iraqi leader; US military presence in region under question

President Joe Biden is set to host Iraq's leader this week for talks that come as tensions across the Middle East have soared over the war in Gaza and Iran's unprecedented weekend attack on Israel in retaliation for an Israeli military strike against an Iranian facility in Syria. The sharp rise in security fears has raised further questions about the viability of the two-decade American military presence in Iraq, through which portions of Iran's Saturday drone and missile attack on Israel flew or were launched from. A U.S. Patriot battery in Irbil, Iraq, knocked down at least one Iranian ballistic missile, according to American officials. In addition, Iranian proxies have initiated attacks against U.S. interests throughout the region from inside Iraq, making Monday's meeting between Biden and Iraqi Prime Minister Shia al-Sudani all the more critical. The talks will include a discussion of regional stability and future U.S. troop deployments but will also focus on economic, trade and

Asian stocks slide, gold rises as Middle East crisis sparks safety rush

Oil prices, however, hardly reacted to the news, as traders had largely priced in a retaliatory attack from Iran that would likely further disrupt supply chains

Iran-Israel conflict: Blinken calls Turkey, Egypt, Jordan, Saudi FMs

: US Secretary of State Antony Blinken on Sunday reached out over phone to the foreign ministers of Jordan, Saudi Arabia, Turkey and Egypt, while Defense Secretary Lloyd Austin had calls with his Saudi and Israeli counterparts, amid signs of an escalating crisis in the Middle East following Iran's strikes on Israel. Iran fired more than 300 drones and missiles at Israel, which Tehran said was in response to the April 1 strike on its consulate in Syria. Almost all Iranian drones and missiles were shot down by Israeli, US and allied forces before they reached their targets. The diplomatic overdrive to fight the crisis came soon after US President Joe Biden had a conference call with G-7 leaders and had separate telephonic conversations with King Abdullah of Jordan and Prime Minister Benjamin Netanyahu of Israel. In all the calls, the American leadership emphasised on the need to avoid further escalation in the region and reaffirmed America's ironclad commitment to the security of ...