Page 2 - West Asia And The Gulf

An LNG glut is on its way despite disruption from West Asia conflict

The world's largest LNG plant is idled and Qatar says repairing it will take at least three years. And yet, the contours of a long-term surplus are already starting to emerge

Iran halts talks with US after Israel widens Lebanon offensive: Report

Negotiators will suspend "talks and the exchange of documents through mediators" the semi-official Tasnim new agency reported, citing a statement

Seamless pipe industry urges PM Modi to curb imports, save foreign exchange

Industry body STMAI has urged Prime Minister Narendra Modi to take steps to curb rising imports of seamless pipes, particularly from China, warning that unchecked inflows are eroding domestic capacity utilisation and causing a substantial outflow of foreign exchange. The development assumes significance in the wake of Prime Minister Modi's call for energy conservation and austerity measures amid the West Asia crisis. In a representation to the Prime Minister, Seamless Tube Manufacturers' Association of India (STMAI) said India's installed seamless pipe manufacturing capacity stands at about 1.95 million tonnes per annum. However, fluctuating domestic demand and a sharp rise in imports, particularly from China and other countries, have led to sustained underutilisation of the country's manufacturing base. "Over the past several years, the Association has continuously represented these concerns before the Ministry of Steel, Ministry of Commerce, Directorate of Revenue Intelligence ...

US, Iran reach tentative deal to extend ceasefire, launch nuclear talks

US and Iranian negotiators have reached a tentative agreement to extend the ceasefire by 60 days and launch talks on Iran's nuclear program, according to a US official familiar with the matter. The official, who was not authorised to comment publicly and spoke on condition of anonymity, said President Donald Trump still needs to sign off on the emerging memorandum of understanding. The tentative agreement worked out by the two sides comes at a moment when the fragile ceasefire between the US and Iran appeared to be wavering. The US military earlier on Thursday accused Iran of violating the ceasefire after Kuwait reported coming under attack following an American strike against the Islamic Republic. It was the latest flare-up of fighting to threaten ongoing negotiations to end the war. Details of the tentative agreement were first reported by the news outlet Axios.

AI spending to continue amid geopolitical uncertainty, says Gurnani

AIONOS Co-Founder C P Gurnani said companies will continue investing in AI and digital technologies despite geopolitical uncertainty and rising operational costs.

US rejects Iranian media's report on 'draft deal' to restore Hormuz traffic

The remark came after Iranian state television reported that Tehran had committed to restoring commercial transit through the Strait of Hormuz to pre-war levels within one month

Crude oil price spike pushes helmet manufacturing cost by nearly 20%

Polycarbonate -- a strong plastic used in premium helmet shells -- increased from around ₹140 per kg before the conflict to ₹230 per kg now after touching ₹252 per kg

WFH, travel curbs: Maruti Suzuki India steers into energy-saving mode

As on March 31, 2025, MSIL had 19,966 regular employees and 33,811 non-regular employees on its rolls, as per the company's annual report

Crisil stress test reveals sectors facing risk, and those less affected

Crisil states 22 of the 34 sectors stress-tested could see operating profitability decline by over 10 per cent as companies may not be able to fully pass on higher costs to consumers immediately

India's FY27 fertiliser subsidy may top ₹3 trn if West Asia crisis persists

Krishna Kant Pathak, joint secretary in the Department of Fertilisers said that to solve the problem, India should now start looking at solutions

Trump says US-Iran deal will be meaningful or there will be no deal

Iran and ​the United States have played down ​hopes for an imminent breakthrough in efforts to end ​their three old war on Monday

West Asia turmoil may dent India Inc margins by 200 bps in FY27: Crisil

The rating agency said that only eight sectors, accounting for around 10 per cent of rated corporate debt, were expected to see a material impact on credit quality

Progress made in negotiations between US and Iran: Secretary Rubio

Some progress has been made in the negotiations between the US and Iran, US Secretary of State Marco Rubio said on Saturday, signalling that the over two-month conflict in West Asia could be nearing a resolution. Rubio said the conflict has to be resolved, as President Donald Trump said, "one way or the other." The US Secretary of State, currently on a four-day visit to India, made the remarks while responding to reporters' questions on the margins of an event at the US embassy. "There has been some progress made. Even as I speak to you now, some work is being done," Rubio said. The top diplomat also said that Washington might have something to say on the issue in the next couple of days. "There's been some progress done, some progress made, even as I speak to you. There's some work being done. There is a chance that, whether it's later today, tomorrow, or in a couple of days, we may have something to say," he added. His comments came as hectic behind-the-scenes negotiations betw

Trump likely to decide by Sunday on resuming war with Iran: Report

US President Donald Trump on Saturday said he was meeting with his negotiators to discuss Iran's latest offer and would likely decide by Sunday whether to resume the war, US media outlet Axios reported. Trump told Axios that it was a "solid 50/50" as to whether he would be able to make a "good" deal or else "blow them to kingdom come." The US President said he would meet with special envoy Steve Witkoff and Jared Kushner to discuss the proposal from Tehran. Vice President J D Vance, who is in Ohio, is likely to return to Washington to join the meeting. Pakistan's Army chief Asim Munir was in Tehran to discuss with the negotiators on the fine print of the peace deal. In Delhi, Secretary of State Marco Rubio said, "There's been some progress done, some progress made.Even as I speak to you now, there's some work being done.There is a chance that, whether it's later today, tomorrow (Sunday), in a couple of days, we may have something to say." Rubio, who is on a four-day visit to India

Trump's 'Economic Fury' piles up 2,000 Iran sanctions with little impact

The US effort has targeted everything from oil companies and shipping firms to currency exchanges and intermediaries across China and the Middle East

US manufacturing growth hits 4-year high as Iran conflict fuels stockpiling

The figures show how manufacturing is getting a temporary boost from the conflict, which has upended supply chains and driven energy and other costs sharply higher

Country must stay alert amid West Asia crisis: Civil aviation minister

Union Civil Aviation Minister Kinjarapu Rammohan Naidu on Wednesday cautioned that the country must remain vigilant and prepared to tackle any possible fallout of the escalating crisis in West Asia, although "it is not worrisome for India at present". Naidu, during his maiden visit to Ranchi, said every sector, including civil aviation, must take responsibility and plan proactively to minimise the impact on citizens and the country. "The situation is not worrisome at present, but we need to remain alert. Every sector, including civil aviation, has to assess the impact and prepare short-term, medium-term and long-term strategies," Naidu told reporters. On concerns over rising travel costs amid global uncertainty, Naidu said the Centre had already initiated measures to shield domestic passengers from any burden. He said the government reduced aviation turbine fuel (ATF) prices along with landing and parking charges at airports to stabilise fares and support the aviation sector. Last

Xi calls for immediate end to West Asia hostilities during talks with Putin

Chinese President Xi Jinping on Wednesday called for an immediate end to hostilities in West Asia, saying the situation had reached a "critical juncture", as he held talks with his Russian counterpart Vladimir Putin here amid escalating regional tensions. Welcoming Putin at the Great Hall of the People, Xi said renewed fighting in the Gulf and the wider West Asia must be avoided and stressed that negotiations should continue. An early end to the conflict will help ease disruptions to energy supplies, industrial and supply chains, and the international trade order, the Chinese president said. The talks between Xi and Putin came days after US President Donald Trump visited China from May 14-15 and held extensive discussions with the Chinese leader on the Iran-Israel conflict, the Strait of Hormuz and bilateral trade frictions. The meeting is being closely watched as both China and Russia are key strategic partners of Iran with close economic and military ties to Tehran and could ...

Iran could trigger 'nuclear arms race' in West Asia, says J D Vance

US Vice President J D Vance has said Iran having an atomic weapon would trigger a "nuclear arms race" worldwide and asserted that the US was "locked and loaded" to restart military operations if Tehran failed to reach a peace deal. Vance's remarks at a press conference at the White House on Tuesday came a day after President Donald Trump put off the decision to resume strikes on Iran at the request of Arab nations, including Qatar and the UAE, who said that Tehran was being "reasonable" in peace talks. "We think the Iranians want to make a deal. The president of the United States has asked us to negotiate in good faith. And that's exactly what we've done," the vice president said. But Vance warned that diplomacy will not come at the cost of Trump's key demand that Iran never obtain a nuclear weapon. "So as the president just told me, we're locked and loaded," Vance said, adding that he had a meeting with Trump before coming to the press briefing. "We don't want to go down that ...