Page 22 - Middle East

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 ...

Iran-Israel conflict: US highlights its role in thwarting missiles

The United States on Sunday highlighted its role in helping Israel thwart an unprecedented aerial attack from Iran as President Joe Biden convened leaders of the Group of Seven countries in an effort to prevent a wider regional escalation and coordinate a global rebuke of Tehran. The US assisted Israel in shooting down dozens of drones and missiles fired by Iran on Saturday in what was the first time it had launched a direct military assault on Israel. Israeli authorities said 99 per cent of the inbound weapons were shot down without causing any significant damage. US officials said that despite the high interception rate, Iran's intent was to destroy and cause casualties and that if successful, the strikes would have caused an uncontrollable escalation across the Mideast. US officials said Biden told Israeli Prime Minister Benjamin Netanyahu, in an effort to contain tensions, that Washington would not participate in any offensive action against Iran, and the president made very cle

Israeli settlers rampage West Bank village, kill 1 Palestinian, wound 25

Dozens of angry Israeli settlers stormed into a Palestinian village in the Israeli-occupied West Bank on Friday, shooting and setting houses and cars on fire. The rampage killed a Palestinian man and wounded 25 others, Palestinian health officials said. The violence was the latest in an escalation in the West Bank that has accompanied the war in the Gaza Strip. An Israeli rights group said the settlers were searching for a missing 14-year-old boy from their settlement. After the rampage, Israeli troops said they were still searching for the teen. The killing came after an Israeli raid overnight killed two Palestinians, including a Hamas militant in confrontations with Israeli forces. Palestinian health officials say over 460 Palestinians have been killed in the West Bank by Israeli forces since the war erupted in October. The Israeli human rights group Yesh Din said that settlers stormed into the village of al-Mughayyir late Friday, searching for the Israeli boy. The group said tha

Oil prices rise but set for weekly loss amid expectations of Fed rate cuts

The gains erased some losses from the previous session, which was dominated by worries about stubborn U.S. inflation that dampened hopes for an interest rate cut as early as June

Russia, Germany, UK urge restraint as Iranian threat puts W Asia on edge

The German airline Lufthansa, one of only two Western carriers flying to Tehran, extended a suspension of its flights to the Iranian capital and Russia warned against travel to West Asia

Oil consolidates gains amid concerns of worsening Middle East conflict

US Secretary of State Antony Blinken has told Israeli Defense Minister Yoav Gallant that the United States will stand with Israel against any threats by Iran

UN court takes up case accusing Germany of facilitating Israel in Gaza

Preliminary hearings are opening Monday at the United Nations' top court in a case that seeks an end to German military and other aid to Israel, based on claims that Berlin is enabling acts of genocide and breaches of international humanitarian law in the Israel-Hamas war in Gaza. Nicaragua argues that by giving Israel political, financial and military support and by defunding the United Nations aid agency for Palestinians, UNRWA, Germany is facilitating the commission of genocide and, in any case has failed in its obligation to do everything possible to prevent the commission of genocide. While the case brought by Nicaragua centers on Germany, it indirectly takes aim at Israel's military campaign in Gaza following the deadly Oct. 7 attacks when Hamas-led militants stormed into southern Israel, killing some 1,200 people. More than 33,000 Palestinians have been killed in Gaza, according to the territory's Health Ministry. Its toll doesn't differentiate between civilians and combatants

Six months into Gaza war, Israel's isolation grows with no end in sight

When Israel declared war against Hamas last October, it stood unified at home and enjoyed broad backing from around the world following an unprecedented attack by the Islamic militant group. Six months later, Israel finds itself in a far different place: bogged down in Gaza, divided domestically, isolated internationally and increasingly at odds with its closest ally. The risk of a broader regional war remains real. Despite Israel's fierce military onslaught, Hamas is still standing, if significantly weakened. The offensive has pushed Gaza into a humanitarian crisis, displacing more than 80% of the population and leaving over 1 million people on the brink of starvation. Yet Israel hasn't presented a postwar vision acceptable to its partners, and cease-fire talks remain at a standstill. Here are six takeaways from the first six months of war. BATTLEFIELD STALEMATE Israel declared war in response to Hamas' Oct. 7 cross-border attack, in which the militant group killed 1,200 people,

PAG-backed Nuvama eyes Middle East for $400 million for first time

Nuvama also expects to raise another $100 million from the region for a new public equities long-short product

We had nothing to do with it: US after attack on Iranian consulate in Syria

Shortly after an airstrike widely attributed to Israel destroyed an Iranian consulate building in Syria, the United States had an urgent message for Iran: We had nothing to do with it. But that may not be enough for the US to avoid retaliation targeting its forces in the region. A top US commander warned on Wednesday of danger to American troops. And if Israeli Prime Minister Benjamin Netanyahu's recent broadening of targeted strikes on adversaries around the region to include Iranian security operatives and leaders deepens regional hostilities, analysts say, it's not clear the United States can avoid being pulled into deeper regional conflict as well. The Biden administration insists it had no advance knowledge of the airstrike Monday. But the United States is closely tied to Israel's military regardless. The US remains Israel's indispensable ally and unstinting supplier of weapons, responsible for some 70% of Israeli weapon imports and an estimated 15% of Israel's defense budget.

Houthis may be low on weapons as attacks on ships slow, says US commander

Houthi rebels in Yemen may be running through their supplies of drone swarms and anti-ship ballistic missiles as the pace of their attacks has slowed a bit, the top US Air Force commander for the Middle East said Wednesday. Lt. Gen. Alexus Grynkewich, who heads US Air Forces Central, said that the persistent American retaliatory strikes on the Iran-backed militia group have certainly affected their behaviour. Their pace of operations is not what it was. The Houthis have been conducting near daily attacks on commercial and military ships in the Red Sea and Gulf of Aden, launching drones and missiles from rebel-held areas of Yemen. The attacks -- which are often unsuccessful but at times have struck the ships have disrupted a crucial shipping route. In response, the US and allies have been forced to increase their military ship presence along the waterway, and on several occasions have launched wider retaliatory strikes on ammunition, weapons and other facilities. US ships and fighte