Page 14 - West Asia

Market euphoria vs geopolitical reality: The fragile peace in West Asia

Markets rally on hopes of peace and lower oil prices, but fragile ground realities in West Asia and Hormuz disruptions suggest optimism may be premature

Rupee may come under pressure as Strait of Hormuz blockade continues

The Indian unit closed Friday at 92.93/$ compared to the previous close of 93.20/$, gaining 0.3 per cent

Markets may see volatility on Monday as Hormuz tensions escalate again

Indian equities may open lower on Monday as renewed Strait of Hormuz tensions raise concerns over oil prices, global risk sentiment, and the outlook for geopolitical stability

Straits and narrows: The high cost of closing global chokepoints

Paying tolls to use the Strait of Hormuz is a dark omen for the future of global trade

West Asia war: Iran rules out sending negotiating delegation to Pakistan

The report further added that no decision "as long as there is a naval blockade"

Iran envoy says India ties strong amid Strait of Hormuz ship firing

He further added, "...We don't want this war. We want peace, and we hope that the other side will also pursue peace so that we can have a peaceful region"

Developments in US-Iran war, oil prices likely to drive markets this week

Stock markets would keenly track developments in the US-Iran conflict, crude oil prices and quarterly earnings from corporates for further direction this week, analysts said. Besides, trading activity of foreign investors would also influence trading in the markets, they noted. "Geopolitical developments in the US-Iran conflict will remain a key monitorable, given their direct impact on crude oil prices and global risk sentiment," Ajit Mishra, SVP, Research, Religare Broking Ltd, said. Meanwhile, the ceasefire between the US and Iran is set to expire on April 22. On the domestic front, focus will shift to the ongoing Q4 FY26 earnings season, he said. "Market participants will initially react to results from banking heavyweights such as HDFC Bank and ICICI Bank. Subsequently, several key companies, including HCL Technologies, Infosys, Tech Mahindra, Havells, IndusInd Bank, Shriram Finance, are scheduled to announce their results," Mishra added. The country's largest private-sector

Why this suspected nuclear site in Iran is central to talks with US

Little is known about Pickaxe Mountain, but some experts say it illustrates the impossibility of relying on force alone to prevent Iran from acquiring a nuclear bomb

Iran doubles down on closing Strait of Hormuz as ceasefire nears end

Iran doubled down on its pledge to restrict ships passing through the Strait of Hormuz as long as the US blockade of Iranian ports remains in place, as mediators scrambled to secure further talks before the ceasefire expires this week. Iranian parliamentary Speaker Mohammed Bagher Qalibaf said in a televised interview that Tehran would continue to threaten commercial vessels transiting the critical waterway, after it fired on ships attempting to pass on Saturday. "It is impossible for others to pass through the Strait of Hormuz while we cannot," Qalibaf, who is Iran's chief negotiator in talks with the United States, said. Iran's navy has warned ships against transiting the strait, a chokepoint through which roughly one-fifth of the world's oil normally passes. After a brief uptick in transit attempts on Saturday, vessels in the Persian Gulf held their positions, wary after two India-flagged ships were fired on mid-transit and forced to turn back. Their retreat returned the Strait

Domestic LPG consumption drops 13% in March amid West Asia conflict

India's cooking gas LPG consumption fell by a steep 13 per cent in March as supply disruptions linked to the West Asia conflict hit availability for both household kitchens and commercial users, according to latest official data. LPG consumption was at 2.379 million tonne in March, 12.8 per cent lower than 2.729 million tonne consumed in the same period last year. India imports about 60 per cent of its LPG requirements, much of it via the Strait of Hormuz, which was effectively shut following US and Israeli strikes on Iran and Tehran's retaliation. With supplies from Saudi Arabia and the United Arab Emirates disrupted, the government has cut LPG supplies to commercial establishments like hotels, and industries to safeguard household cooking gas availability. According to the Oil Ministry's Petroleum Planning and Analysis Cell (PPAC), LPG cylinder sold to domestic households fell 8.1 per cent in March to 2.219 million tonne while those sold to non-domestic users was down almost 48 pe

Hormuz tensions, Lebanon clashes undermine Trump peace deal hopes

US military is preparing to board Iran-linked oil tankers and seize commercial ships in international waters in coming days to pressure Iran into reopening the waterway

Pak plunging into darkness as war in Persian Gulf cuts off oil, gas supply

The crunch could not come at a worse time for Pakistan, just as the heat rises ahead of the monsoon season, boosting air conditioner use and power demand

US, Iran cite progress in talks as uncertainty hangs over Strait of Hormuz

Neither side offered any specifics about the state of negotiations, days before a fragile ceasefire in the US-Israeli war against Iran is set to expire

West Asia conflict revives stagflation dangers for global economy

Whether the twin blows affecting growth and inflation seen in purchasing manager indexes after the first month of the Iran conflict intensified during month two will be a key focus

India condemns attack on French UN Peacekeepers, seeks accountability

India on Saturday issued a stern condemnation following a deadly attack on French UN Peacekeepers serving with the United Nations Interim Force in Lebanon (UNIFIL).The official statement, released by the Ministry of External Affairs, underscored India's long-standing role as a leading contributor to global peacekeeping and its commitment to the safety of those serving under the Blue Helmet.In a press statement, the Ministry of External Affairs said, "We strongly condemn the attack that took place today on French UN Peacekeepers deployed in UNIFIL. We pay our homage to the fallen Blue Helmet and wish a speedy recovery to the three other peacekeepers who were injured."The UNIFIL, in a statement issued on its telegram channel, said that on Saturday morning, a UNIFIL patrol clearing explosive ordnance along a road in the village of Ghanduriyah to re-establish links with isolated UNIFIL positions came under small-arms fire from non-state actors."Tragically, one peacekeeper succumbed to his

Iran stopped over 14 India-bound ships in Hormuz, hit one by gunfire

A convoy of 14 India-bound ships carrying crude oil and gas were stopped by the Iranian Revolutionary Guard Corps (IRGC) by firing at two of them while they were transiting the Strait of Hormuz, leading to 13 of the vessels returning to different locations in the Persian Gulf, official sources privy to the development said. An Indian-flag carrying ship, which was hit by bullets fired by the IRGC while crossing the Strait of Hormuz, was carrying crude oil and a window pane was broken, forcing it to stop the journey and return. The extent of damage to the second vessel was not immediately known but it also had returned. However, another ship, which was Indian flagged and loaded with crude oil for the Hindustan Petroleum Corporation Limited, sailed through the Strait and is now heading towards India, the sources said. Two Iranian gunboats approached the targeted tanker and fired at it without warning. Gunboats approached the vessel 37 kilometres northeast of Oman, causing other vessels

Iran reimposes control over Strait of Hormuz as ships report gunfire

At least two vessels reported being hit by gunfire as they attempted to cross the strait, the sources said

No date set for next US talks: Iran deputy foreign minister Khatibzadeh

The highest-level US-Iran talks since the 1979 Islamic Revolution ended in Islamabad without agreement last weekend

Govt responds to West Asia shipping insurance spike with ₹13k cr pool

The pool would cover all maritime risks like Hull and Machinery, Cargo, P&I and War risk, a statement by the cabinet said

Iran gunboats fire on tanker in Strait of Hormuz as restrictions return

The duelling blockades in the Strait of Hormuz lurched into uncharted waters on Saturday as the United States pressed ahead with its campaign to choke off Iranian ports and Iran reversed an initial move to reopen the waterway, firing on a ship attempting to pass. Confusion over the critical chokepoint threatened to deepen the energy crisis roiling the global economy and push the two countries toward renewed conflict, even as mediators expressed confidence a new deal was within reach. Iran's joint military command said on Saturday that "control of the Strait of Hormuz has returned to its previous state ... under strict management and control of the armed forces." It warned that it would continue to block transit through the strait as long as the US blockade of Iranian ports remained in effect. Two gunboats from Iran's Revolutionary Guard opened fire on a tanker transiting the Strait of Hormuz, the British military's United Kingdom Maritime Trade Operations centre said on Saturday. It