West Asia

Cement makers expect 7-8% growth in FY27 despite West Asia headwinds

Leading cement makers expect a healthy growth in the range of 7-8 per cent in FY27, driven by government infrastructure spending, housing demand and urbanisation, notwithstanding short-term headwinds due to rising fuel costs amid the West Asia crisis. Top executives of companies like UltraTech Cement, Ambuja Cements, Shree Cement, Dalmia Cement and Nuvoco Vistas, in their latest earnings calls, expressed optimism about medium-term demand, projecting industry growth in the range of 7-8 per cent, while betting on premiumisation and improved sales realisations to support earnings amid cost pressures. Moreover, cement companies are also stepping up capital expenditure plans for FY27, betting on an infrastructure push and housing demand despite near-term challenges. UltraTech said the sector is facing near-term challenges from higher fuel costs, freight expenses and import-dependent supply chains amid geopolitical uncertainty in West Asia. "It's a real headwind on fuel costs, packing ba

West Asia crisis puts EV cost edge in sharper focus for car buyers now

Rising fuel-price concerns are pushing more consumers to evaluate total ownership costs, even as charging, resale and battery-life worries continue to weigh on EV adoption

Indian medical tourism grows in FY26 despite West Asia, B'desh shocks

Hospitals reported higher medical value tourism revenues in FY26 as complex procedures and market diversification helped offset lower patient inflows from key regions

US-Iran deal may reopen Hormuz during 60-day ceasefire extension: Report

According to the Axios report, during the 60-day period, the Strait of Hormuz would be open with no tolls and Iran would agree to clear the mines it deployed in the strait to let ships pass freely

Many questions, few details in Trump's latest Iran peace proposal

It is too early to tell what exactly Trump and Iran have agreed to, or if they have agreed to much at all

Trump says Iran deal 'largely negotiated,' including reopening of Hormuz

"Final aspects and details of the Deal are currently being discussed, and will be announced shortly," Trump wrote on Truth Social

British navy prepares to clear mines in Hormuz while waiting for peace deal

Aboard the RFA Lyme Bay docked off the coast of Gibraltar, hundreds of British sailors are waiting to be deployed for a mine-clearing mission to the Strait of Hormuz that is still in doubt. US President Donald Trump has lashed out at allies for not doing more to support the United States' war effort in Iran, whose chokehold on the strait has crippled international shipping and sent energy prices soaring. In March, Trump told NATO allies to "go get your own oil" and secure the strait themselves. On the southern tip of the Iberian Peninsula, in the British Overseas Territory of Gibraltar, the UK's Royal Navy is preparing to do that -- but only once a peace agreement is reached. Trump said Saturday that a deal with Iran has been "largely negotiated" after calls with Israel and other allies in the region, but it still needs finalising. Britain's Armed Forces Minister Al Carns took a small group of reporters to visit the RFA Lyme Bay as it prepares for a possible international operation,

Path being cleared for temporary removal of cotton import duty curbs

Government may temporarily scrap cotton import duty from July to October as textile mills seek relief amid soaring prices and supply concerns

1973 and now: How Indira's self-destructive responses are instructive today

An oil shock, monsoon fears, rampant unemployment, and the seeming inevitability of inflation, are common to both eras. Indira Gandhi's self-destructive responses are instructive today

West Asia crisis: Centre taking steps to ease container movement at JNPA

The Union government is taking steps to ease container movement at JNPA amidst rising global supply chain challenges due to the West Asia crisis, an official statement said on Friday. The statement further said that Union ministers Piyush Goyal and Sarbananda Sonowal reviewed the global supply chain challenges with EXIM industry stakeholders. According to the statement, rail evacuation, waiver of handling charges, Green Channels and trailer pooling among measures are rolled out to sustain Ease of Doing Business (EODB). The statement pointed out that the government of India has initiated a coordinated "Whole of Government" response to address concerns raised by the EXIM community. Union Minister of Commerce & Industry Piyush Goyal and Union Minister of Ports, Shipping & Waterways Sarbananda Sonowal held a high-level meeting with representatives of the All India Liquid Bulk Importers and Exporters Association to review the evolving situation and discuss immediate and long-term ..

RITES to continue West Asia foray, war impact not substantial: Rahul Mithal

RITES will continue expanding in West Asia despite regional conflict, betting on IMEC-linked opportunities and digital trade corridor projects

West Asia war hasn't hit output, demand: Honda Cars India CEO Nakajima

Honda Cars India says West Asia conflict has caused supply-chain and logistics issues but has not affected production or consumer demand in India

West Asia crisis may cost India ₹2.1 trillion: Bank of Baroda economists

Bank of Baroda economists warn rising oil prices and subsidy burden may widen fiscal deficit and weigh on India's growth outlook in FY27

Rupee among Asia's most vulnerable currencies amid crude oil risks

Barclays and MUFG warn the rupee could face further pressure from elevated crude prices, widening deficits and prolonged conflict in West Asia

Quad foreign ministers to discuss West Asia crisis at Delhi meeting

Quad foreign ministers to discuss the West Asia crisis, Strait of Hormuz disruption and regional security during their meeting in New Delhi next week

Odisha mandates EV purchases for all govt departments from June 1

Odisha government mandates electric vehicle purchases for all departments from June 1 as part of austerity and fuel-conservation measures amid global crude concerns

Crude prices could influence growth, inflation: EAC-PM chief S Mahendra Dev

EAC-PM Chairman S Mahendra Dev said higher crude prices and supply disruptions from the West Asia conflict could weigh on India's growth and inflation

Citigroup Inc sees IPOs hitting fresh records despite challenges

For foreign investors looking at India, interesting themes include the country's positioning in AI

Khamenei says Iran's nuclear fuel stockpile must remain in country

Iran has refused US demands to transfer enriched uranium abroad, deepening tensions in fragile nuclear and ceasefire negotiations