Page 11 - West Asia

Best of BS Opinion: Iran conflict could trigger prolonged bear market

From US foreign policy risks and India's labour data changes to bear market fears and FCRA concerns, today's Best of BS Opinion brings together key insights shaping global and domestic debates

West Asia conflict, airspace curbs likely to cost carriers ₹2.5K crore

The broader conflict in West Asia, the largest international market for Indian carriers, has forced a sharp reduction in daily flights relative to the summer schedule

West Asia conflict: Fear arrives early in fields of Haryana and Punjab

In third part of series on West Asia impact, wholesalers warn of thin stocks as hoarding fears drive early fertiliser buying

West Asia conflict: Predictable expenses likely to boost EV demand

CSEP study says high crude prices may accelerate EV transition, but electric cars will continue to rely on fiscal incentives to remain competitive with ICE vehicles till 2030

CII asks Finance Ministry for fiscal support amid West Asia crisis

Industry body proposes credit support, tax relief and policy steps to shield MSMEs, exporters and energy-intensive sectors from disruptions caused by the ongoing West Asia crisis

Iran war starts pinching US as gas prices, transport costs surge

The war against Iran has started to impact Americans, with Amazon announcing a fuel surcharge for its e-commerce deliveries and some airlines hiking fees for checked-in baggage to offset higher fuel costs. The average price of petrol in the US has increased to USD 4.09 a gallon on Friday, up more than one dollar from just before the war and the highest level since August 2022. The cost of diesel has risen sharply from USD 3.64 per gallon a year ago to USD 5.53 per gallon on Friday, according to data maintained by the American Automobile Association (AAA). Diesel is widely used in farming, construction and transportation, besides other industries. E-commerce giant Amazon also said that, beginning April 17, it plans to add a 3.5 per cent fuel surcharge on third-party sellers. The US Postal Service on Wednesday said it is seeking to impose a temporary 8 per cent fuel surcharge for package and express mail deliveries to deal with rising transportation costs. If approved by the Postal

West Asia conflict: Another Indian LPG vessel crosses Strait of Hormuz

7 Indian-flagged ships have crossed the strait so far; number of stranded vessels down to 17 from 28 at start of war

US troops fighting for Jesus, says Hegseth; Pope Leo XIV disagrees

Throughout his first year as pontiff, Leo has been careful not to wade into US politics and has avoided direct confrontation with the White House

Trump vows strikes on Iran's infra after US pilot rescued in 'daring op'

But also says a deal with tehran could conclude on Monday

Market playbook under strain amid West Asia war; downside seen limited

The median fall across key global events since 2003-including the Lebanon War, the Russia-Ukraine conflict, and the Israel-Hamas war-stands at around 7 per cent

Dire straits: Prolonged war could alter the global security architecture

Escalating US-Iran conflict and oil disruptions threaten global stability, while shifting alliances signal a weakening of America's geopolitical influence

West Asia conflict threatens to push markets into bear market rhythm

Markets face risk of a prolonged bear phase as oil shocks and geopolitical tensions test inflation, growth, and investor confidence globally

Govt steps up LPG supply, urges calm amid Strait of Hormuz concerns

Sale of small 5-kg LPG cylinders - available across-the-counter at LPG distributorships on showing valid ID proofs - has been stepped up, with about 6.6 lakh bottles sold since March 23 as the government ramps up supplies to meet demand. Unlike the subsidised domestic 14.2-kg cylinders, the 5 kg bottles, called FTL cylinders, are priced at market rates and do not require any address proof for procurement from a nearby LPG distributorship. "Yesterday (April 4), more than 90,000, 5Kg FTL cylinders were sold. Since March 23, 2026, about 6.6 lakh, 5 Kg FTL cylinders have been sold," the oil ministry said in a statement. The ministry said there are no reports of shortages at LPG distributor points, with more than 51 lakh domestic cylinders delivered during the day and online bookings accounting for 95 per cent of total demand. Authorities have intensified action against hoarding and black marketing, seizing over 50,000 cylinders since March and issuing more than 1,400 show-cause notices

Iraq thanks Iran for allowing oil tankers through Strait of Hormuz

Hussein made the remarks during a meeting with Iran's ambassador to Iraq Mohammad Kazem Al-Sadeq

Donald Trump says US will target Iran's infrastructure on Tuesday

Tuesday will be Power Plant Day, and Bridge Day, all wrapped up in one, in Iran, he said

Stocks brace for volatility amid RBI policy, West Asia conflict: Analysts

The domestic stock market is expected to remain volatile this week as investors track the Reserve Bank's monetary policy decision, key global macroeconomic data and the impact of the West Asia conflict, analysts said. Movements in crude oil prices and foreign fund flows will also influence domestic equities, they added. Vinod Nair, Head of Research, Geojit Investments Ltd, said the RBI's Monetary Policy Committee (MPC) meeting will command centre stage domestically, with investors closely watching the central bank's stance on inflation and growth. "A rate pause is near-certain consensus, the central bank walks a tightrope between crude-driven inflation risks and a four-year low Manufacturing PMI signalling a softening growth impulse. The governor's commentary on the rate cycle trajectory and FY27 projections will be closely monitored. "Globally, the US March CPI reading will carry significant importance, as it buries residual Fed rate-cut hopes, strengthens the dollar and tightens

CII 20-point agenda calls for coordinated response amid West Asia crisis

Industry lobby CII on Sunday outlined a 20-point agenda to mitigate the impact of the West Asia crisis, calling for measures including a temporary exemption from long-term capital gains tax for foreign investors in the primary market, the introduction of a time-bound Conflict-Linked Emergency Credit Line Guarantee Scheme and a three-month moratorium and restructuring window for MSMEs. CII proposed that priority sector lending (PSL) norms may be revisited to enable banks to respond more flexibly to sector-specific stress during external disruptions. It also suggested that the RBI could institute a Special Refinance Window for MSMEs and other affected sectors, among other measures, seeking their consideration by the government. To sustain foreign capital inflows into primary markets during a period of heightened global uncertainty, the Ministry of Finance may consider a temporary exemption from long-term capital gains tax for foreign investors in primary market investments, with the .

Fire breaks out at Borouge petrochemicals plant in UAE following attack

Authorities say a fire has broken out at a petrochemicals plant in the United Arab Emirates following an attack on Sunday. Abu Dhabi authorities responded to multiple fires at the Borouge petrochemicals plant. They say the fires were caused by falling debris following successful interceptions by air defence systems, but production at the plant has halted. The plant is in Ruwais, near the UAE's western border with Saudi Arabia. The plant is a joint venture of the Abu Dhabi National Oil Co. and Borealis of Australia.

OIL ramps up crude production from Rajasthan's Thar amid energy crisis

Amid heightened geopolitical tensions and uncertainty in global oil markets, Oil India Ltd has significantly ramped up crude production from Rajasthan's Thar desert, achieving a record output of 1,202 barrels per day from the Jodhpur sandstone formation, officials said. The state-run company has increased production by around 70 per cent compared to last year's 705 barrels per day, marking a major milestone in efforts to boost domestic output and strengthen energy security. Officials said the crude oil produced in the Baghewala field in Jaisalmer is transported by tankers to Oil and Natural Gas Corporation (ONGC) facilities in Mehsana, Gujarat, from where it is sent via pipeline to the Koyali refinery operated by Indian Oil Corporation Ltd (IOCL). In the financial year 2025-26, Oil India's Rajasthan field recorded an annual production of 43,773 metric tonnes of crude oil, up from 32,787 metric tonnes in the previous year, reflecting strong growth driven by technological advancements

Aid groups warn Iran war is hindering food, medicine from reaching millions

Aid groups are warning that the war in the Middle East has upended their ability to get food and medicine to millions of people around the world in need, and that the suffering will deepen if the violence continues. Not only has the conflict cut off vital shipping routes, creating a global energy crisis, it's also disrupting supply chains for aid groups, forcing them to use costlier, more time-consuming routes. Key pathways such as the Strait of Hormuz have been effectively shuttered and routes from strategic hubs such as Dubai, Doha and Abu Dhabi have also been impacted. Transport costs have spiked with higher fuel and insurance rates, meaning less supplies can be delivered with the same amount of money. The World Food Program says it has tens of thousands of metric tons of food heavily delayed in transit. The International Rescue Committee has USD 130,000 worth of pharmaceuticals intended for war-torn Sudan stranded in Dubai and nearly 670 boxes of therapeutic food meant for ...