Page 5 - West Asia And The Gulf

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

Early signs of stress from West Asia crisis visible across sectors: FICCI

Early signs of stress are visible across sectors, warranting proactive measures to mitigate immediate risks as well as to build long-term resilience, industry lobby FICCI said in a report on the implications of the West Asia conflict released on Thursday. The report emphasises that this crisis, while being challenging, also presents an opportunity for India to accelerate structural reforms aimed at strengthening economic resilience and reducing external vulnerabilities. The government may consider the provision of emergency financing for MSMEs and issuance of advisories to address force majeure-related risks in public procurement contracts, ensuring that businesses are not penalised for delays caused by factors beyond their control, says the report. The report also suggests that the government may initiate consultations within the GST Council to explore a roadmap for the inclusion of petroleum products under GST. This would help reduce cost burdens, improve supply chain efficiency a

Govt ramps up feedstock supplies to pharma sector amid West Asia crisis

The government has stepped up supplies of critical petrochemical feedstock to the pharmaceutical industry to ensure uninterrupted production of essential medicines, as global supply chains remain strained due to the crisis in West Asia. Prior to the West Asia conflict, the pharmaceutical industry imported a bulk of its petrochemical feedstock, mostly in Kandla, Gujarat, from where the logistics chain took them to factories. The war, however, has disrupted those imports, which are now being substituted by Indian refiners, tweaking production lines to make available specialised feedstock to the pharma sector. Key inputs such as propylene, ammonia and methanol are being allocated on a pro-rata basis to meet industry requirements, said Satyaprakash TL, Joint Secretary in the Department of Pharmaceutical, at a news briefing. Propylene, the most critical feedstock, is being supplied from domestic refiners, including Bharat Petroleum Corp Ltd, and used to produce intermediates, such as ...

India well placed to handle energy shock, backed by strong buffers: WB

The World Bank on Thursday said India is well placed to weather the current global energy shock with ample buffers, including high foreign exchange reserves, fiscal space and low inflation, which will support growth despite global headwinds. Addressing a conference a day after raising India's GDP growth projections for the current fiscal to 6.6 per cent, the World Bank said India had dealt well the trade turbulence last fiscal and the Indian economy entered the current Middle East crisis, which has led to volatility in oil markets, "from a position of strength". World Bank Regional Practice Director, Prosperity, for South Asia, Sebastian Eckardt said, "India has strong policy buffers, high Forex reserves, fiscal space, to provide support as needed, as well as low inflation, and strong goals moment going into this current shock. And that strong growth momentum is supported by gross positive policies, including the EU FTA the new labour, all of these things, of course, reinforced and

Hormuz remains open, JD Vance to hold talks with Pak on Sat: White House

Press Secretary Karoline Leavitt described the ceasefire as a "historically swift and successful military triumph," saying US operations had weakened Iran's military capabilities

Oil, gas flows through Strait of Hormuz may take months to recover

Even as the Strait of Hormuz reopens, damaged oil and gas infrastructure across the Gulf could delay supply recovery and keep global energy prices elevated