West Asia And The Gulf

L&T up 26% from March low, nears pre-West Asia conflict price; here's why

L&T's long-term outlook for the Middle East business remains robust with no news of project cancellations or payment delays, says brokerage firm JM Financial.

US, Iran agree 'in principle' to extend ceasefire amid tensions: Report

As per a report, both sides - the US and Iran - are making progress and appear willing to prolong the truce to create space for continued diplomatic engagement

Xi says rule of law must be upheld for West Asia peace, stability

The visit comes amid heightened tensions in the Middle East after weekend talks between Washington and Tehran failed to reach a deal to end the war

Modi, Trump hold 40-min call, discuss Hormuz blockade, energy deals

This marked the first interaction between the two leaders since the initial round of peace talks in Islamabad failed without an agreement after nearly 21 hours of negotiations

Lebanon, Israel hold first direct diplomatic talks in decades in Washington

Lebanon and Israel opened their first direct diplomatic talks in decades on Tuesday in Washington following more than a month of war between Israel and the Hezbollah militant group. Secretary of State Marco Rubio called it a "historic opportunity" and made it clear no breakthrough agreement was immediately expected. Rubio said the Trump administration is "very happy" to be facilitating the discussions, while noting that "we understand we're working against decades of history and complexities" that will not be quickly resolved. Hezbollah opposes the direct talks and was not represented, and the group appeared to step up its fire on northern Israel as the talks began. "But we can begin to move forward with a framework where something can happen, something very positive, something very permanent, so that the people of Lebanon can have the kind of future they deserve, and so that the people of Israel can live without fear," Rubio said. Rubio and US Ambassador to the United Nations Mike

India leads steel demand growth as global outlook weakens: Report

West Asia conflict is expected to drag steel demand in key regions, while India remains the fastest-growing major market supported by infrastructure push and consumption trends

West Asia war may hit auto sector, raise costs, dent demand: Siam

The war in West Asia may have adverse implications for the Indian automotive industry and could pose near-term challenges for the sector, having an indirect impact on vehicle demand, Society of Indian Automobile Manufacturers President Shailesh Chandra said on Tuesday. While the automobile industry concluded the 2025-26 year from a position of strength, developments arising from the ongoing West Asian conflict pose certain risks, he told reporters here. "Recent uncertainties arising from the West Asia conflict need to be closely monitored. The evolving geopolitical situation may have adverse implications for automotive production, input and commodity prices, fuel prices and freight rates, which could pose near-term challenges for the industry and may also indirectly impact the demand requirement," he said. Sharing an update on the current situation faced by the domestic auto industry, Chandra said, "Supply disruptions have led to shortages of propane and ethylene, critical inputs

Luxury watch industry faces fresh headwinds as Iran war dents demand

The bling is back, but the war in the Persian Gulf has tarnished the outlook for the luxury watch industry - the ultimate in bling. Starting Tuesday, Geneva hosts the annual "Watches and Wonders" fair, a premiere gathering in an industry eager for a rebound after two years of market contraction, hopefully including sales in oil-rich Gulf Arab countries. The US and Israeli war against Iran that began February 28, however, has had a sweeping impact on the global economy: Driving up energy prices, stalling shipments of fertiliser, disrupting air travel, among other things. High-end watches have not been spared. Soaring prices for precious metals like gold and silver over the last year and US President Donald Trump's Liberation Day tariffs launched a year ago - while down from peak levels - already affected the market. Now, renewed inflation pressures and doubts about consumer confidence are throwing new uncertainty into the market that generates tens of billions of dollars in revenue

US Navy maintains presence in West Asia, may participate Iran blockade

It remains unclear which specific vessels are positioned or designated for participation in the blockade

West Asia crisis: Export of recycled metals hit as war-risk charges persist

Indian exporters continue to face steep war-risk and freight charges despite a ceasefire, with rising logistics costs eroding margins and disrupting supply chains

Didn't charge toll from Indian tankers for Hormuz transit: Iran envoy

Iran's envoy to India said the two countries share common regional interests, while reiterating Tehran's position on the Strait of Hormuz amid tensions in West Asia

Iran conflict disrupts fluoride supply, some US utilities face shortages

It's not just gas prices: Some US water utilities are reporting the Middle East war is disrupting their ability to maintain recommended fluoride levels in the drinking water. Over the past few weeks, a few water utilities have said their supply had been disrupted, according to the Association of Metropolitan Water Agencies. Fluoride is used in water systems as a public health measure to prevent tooth decay. Here's what to know. What's driving the fluoride shortage? --------------------------------------- Israel is one of the world's top exporters of fluorosilicic acid, according to the US Environmental Protection Agency. EPA data also shows the US is among the world's top five importers of the product. At least one Israeli supplier has been facing workforce challenges because many employees have been called into active military service, said Dan Hartnett, chief policy officer for the Association of Metropolitan Water Agencies. "That has led to decreased production, and supply ..

21 hours in Pakistan: How Vance tried and failed to end a war he opposed

JD Vance leaves Pakistan without a deal as US-Iran talks collapse, deepening uncertainty over ceasefire and escalating tensions in the Strait of Hormuz

Govt acted swiftly, but more support needed to cushion war impact

Strait of Hormuz disruption strains India's trade, prompting swift policy action, but experts call for a targeted support package to ease logistics and cost pressures

US-Iran talks in Islamabad likely to proceed via indirect channels: Reports

The process is expected to follow a facilitated format aimed at "keeping dialogue alive", with mediators shuttling between delegations, rather than seeking an immediate breakthrough

Oil rebounds above $100 as Hormuz remains blocked, supply fears linger

Iranian Parliament Speaker Mohammad-Bagher Ghalibaf said in a statement on X that three clauses of the ceasefire proposal have been violated

India caps refinery margins after windfall export tax to curb losses

After imposing a windfall tax on fuel exports, India has moved to cap refinery margins in a bid to offset losses on domestic fuel sales, sources said. The war in West Asia has had two prolonged impacts - spike in international oil prices that has led to record losses on petrol and diesel sales as retail rates have not changed in tandem. Secondly, it has given bumper margins to refineries, who irrespective of retail price freeze, price their products at imported cost. The government last month imposed a Special Additional Excise Duty (SAED) on exports of diesel and aviation turbine fuel (ATF), as part of efforts to curb windfall gains by refiners and boost domestic fuel availability amid tight global markets. Alongside, refining margins have been capped at USD 15 per barrel, with any earnings above that threshold treated as a discount on fuel sold to state-run marketing companies, effectively transferring excess gains to offset retail losses, sources said. The oil marketing companie