West Asia

RBI's net short dollar forward position hits record $239.2 bn in September

RBI's net short dollar forward position rose from $200.06 billion in August to $239.2 billion in September, driven by FCNR(B) swaps, as forward premiums climbed sharply in October

Amid Gulf tensions, India's IG Defence partners with Oman's MSA Global

The partnership aims to co-develop and localise indigenous defence systems in Oman, including unmanned aerial platforms, counter-drone technologies and micro-missile systems

Saudi Arabia intercepts Houthi missiles, drones; Egypt backs Riyadh

Fresh Houthi attacks raise security concerns around Saudi Arabia's oil infrastructure as Egypt authorises steps to support Riyadh

India's diesel export boom set to ease global fuel shortages in 2027

New refining capacity will boost diesel supplies from India, helping ease global shortages as geopolitical conflicts disrupt fuel flows

India's oil imports, external finance remain key challenges: RBI Dy Guv

At the Business Standard BFSI Insight Summit 2026, RBI Deputy Governor Poonam Gupta said India's dependence on imported oil remains a challenge, despite the economy's resilience to global shocks

Gold, silver face fresh test as oil surge puts Fed policy decision in focus

Gold and silver are expected to face fresh headwinds next week as surging crude oil prices revive inflation concerns, while the US Federal Reserve's policy decision could determine whether bullion rates stabilise or extend their downward trend, analysts said. The precious metals, already battered by elevated bond yields and a stronger dollar, will look to the Federal Reserve's October 27-28 meeting and its chair's commentary for signals on whether interest rates could stay higher for longer. The focus will also be on policy decisions from the European Central Bank and the Bank of Japan, along with US durable goods orders, consumer confidence, Personal Consumption Expenditures inflation and third-quarter GDP data. Eurozone inflation readings, developments around the US mid-term elections, Russia-Ukraine peace talks and the West Asia conflict will also remain on the radar, they added. "The near-term outlook remains cautious, with gold likely to remain under pressure until there is ..

Crude nears $120 as W Asia risks collide with Fed rate decision: Analysts

Crude oil prices are heading into another volatile week, with escalating geopolitical tensions in West Asia keeping supply fears alive and the US Federal Reserve's monetary policy decision expected to dictate market direction, analysts said. With Brent crude already crossing USD 117 per barrel, investors will track developments around the Strait of Hormuz, threats to energy infrastructure, and weekly US inventory data for cues on the next move. The American Petroleum Institute and the US Energy Information Administration will release their weekly stock estimates, while Cushing crude inventories and the Federal Open Market Committee's October 27-28 meeting will be in focus, they added. "The near-term bias remains bullish but highly headline-driven; traders should avoid chasing sharp rallies and monitor geopolitical developments, Fed guidance and weekly inventory data for directional confirmation," said Ajit Mishra, SVP - Research at Religare Broking. Any disruption to energy ...

Israelis hold final rally against Netanyahu ahead of consequential election

Israelis held a final large rally against Prime Minister Benjamin Netanyahu ahead of what has been described as the most consequential election in the country's history. Meanwhile, the death toll rose from Friday's attack on a church in Jordan. And an Iranian military commander said his country will not allow US warships to enter the Persian Gulf as concerns grow of a return to all-out war. Here is the latest news from the Middle East on Saturday. Read our full coverage here. Thousands rally in Tel Aviv days ahead of Israel's election ---------------------------------------------------------------- A large crowd gathered in a final protest against Prime Minister Benjamin Netanyahu and his government ahead of Tuesday's close election. The crowd heard calls for a commission of inquiry into the security failures that led to the Hamas-led attack on Oct. 7, 2023, that sparked the war in Gaza. Netanyahu has refused such an inquiry. Netanyahu's chief rival, Gadi Eisenkot, attended the

India coordinating with airlines for return of Saudi pilgrims: MEA

The MEA said around 3,000 stranded Umrah pilgrims have returned from Saudi Arabia, while Indian missions are coordinating with airlines to bring back others.

Mahindra Holidays to add 1,000 keys in six months, aims for 10,000 by FY30

Mahindra Holidays plans to add 1,000 resort keys over the next six months, with 70 per cent of capital earmarked for new resorts, despite higher costs and project delays.

Indian national killed, 2 hurt in attack on Saudi Arabia's Dammam airport

An Indian national was killed and two others were injured in an attack on Dammam airport in Saudi Arabia, officials said on Thursday, a day after another compatriot was injured in a drone attack targeting the kingdom's Shaybah oilfield, amid a spate of strikes by Yemen's Houthi rebels on key infrastructure in the country. The Indian Embassy in Riyadh said Saudi authorities have informed it about the casualties in the attack on Wednesday night. "One Indian national was among two people who unfortunately lost their lives in the attack on Dammam airport yesterday night and two Indian nationals were injured," the embassy said in a social media post. The mission said it is ascertaining further details and contacting the affected families. "Our thoughts and prayers are with the family and loved ones of the deceased and we wish speedy recovery of the injured," it said. The attack comes amid escalating drone and missile strikes targeting Saudi Arabia's airports, energy installations and o

Diesel exports offer Indian refiners gains amid rising crude import bill

Indian refiners are increasing diesel exports as the West Asia conflict and restrictions by Russia and China tighten supplies, although higher crude import costs and export duties could limit gains

Oil prices dip but head for weekly gains amid West Asia supply concerns

The International Energy Agency agreed to release over 20 million barrels of diesel to the market and any oil remaining from a record release of emergency reserves pledged in March to boost supply

Houthis used Claude to develop missiles, test-fired rocket: Anthropic

In a report, Anthropic detailed how Yemen-based Houthis used Claude Code to work on three weapons development programmes.

West Asia war, debt woes top agenda of IMF-World Bank meetings in Bangkok

Finance officials gather amid an energy supply shock, rising rates and mounting debt, as World Bank chief Ajay Banga warns of compounding diesel, fertiliser and El Niño risks

Markets tumble to 18-month low as US-Iran tensions lift crude oil

Nifty slides 1.64% as rising crude prices, higher US Treasury yields and geopolitical tensions trigger broad-based selling

Indian airlines cancel Riyadh flights after Houthi missile attack

Air India and Air India Express have suspended Riyadh services until October 10, while IndiGo has cancelled several flights and diverted a Hyderabad service to Dammam

Domestic refiners shun costly Russian oil as West Asia flows recover

Surging prices for Russia's flagship Urals crude loaded in the Baltic, a mainstay for Indian refiners, are driving the pullback

Iran-backed Houthis claim new attacks on Saudi Arabia, Yemen's Aden airport

Iran-backed Houthi rebels in Yemen on Wednesday claimed attacks on military facilities and airports in neighbouring Saudi Arabia as the escalation deepened the latest front in the Iran war and threatened a crucial shipping alternative to the Strait of Hormuz. The Houthis' military spokesperson, Brig. Gen. Yahya Saree, said on social media that the rebels launched ballistic missiles and drones in the attacks targeting King Khalid International Airport in the capital, Riyadh, but didn't provide evidence. Flights to and from the airport were briefly disrupted, according to Flightradar24, a tracking platform. Saree said Abha airport, a frequent target of Houthi drones and missiles, was targeted. The rebels also claimed to have hit an air base in the city of Khamis Mushait and two military bases in Najran and Asir. All are in southwestern Saudi Arabia and near the border with Yemen. The spokesperson for the Saudi-led coalition fighting the Houthis, Maj. Gen. Turki al-Malki, said they ..