Page 16 - West Asia

Soaring prices due to Iran war hit tourism dependent countries in Asia

With summer around the corner, soaring prices and other complications from the war with Iran are straining the tourism-dependent economies of countries in Southeast Asia, including Thailand and Vietnam. The region's peak tourist summer season is at risk as elevated jet fuel costs coupled with ceasefire uncertainties prompt flight cancellations and higher ticket prices. Tourism in Asia has yet to fully recover from the COVID-19 pandemic. Now, many countries are coping with the war's repercussions for global energy supplies and prices, which hit Asia first and hardest. Some families are pulling back on travel as visiting gas stations and grocery stores gets more expensive worldwide. Crowds have thinned at some places once synonymous with travel. "With gasoline prices rising and tourism declining, how can we make money?" asked Siv Pech, a 58-year-old tuk-tuk driver in Siem Reap, home to Cambodia's centuries-old Angkor Wat temple complex. Tourism is an economic lifeline for many ...

Trump seeks amendments to Iran deal during situation room meeting: Report

As per the report, Trump is keen to strengthen several points that are important to him, especially about Iran's nuclear material

Rubio thanks Pakistan for West Asia peace efforts after meeting counterpart

Rubio said both leaders 'agreed upon the importance of working together to further strengthen a meaningful partnership for better security'

Energy prices, CAD and BoP big priorities, says V Anantha Nageswaran

Chief economic advisor V Anantha Nageswaran on Friday said managing Macroeconomic fundamentals like the balance of payments and current account deficit has assumed a larger priority for the government right now as the West Asia conflict has triggered a massive global energy shock. Speaking at an event on securitisation, Nageswaran said the West Asia conflict has led to a "energy shock" where the prices have moved north after the supply impact due to issues in the Strait of Hormuz. "In the current context of having to deal with the energy price, energy shock, current account deficit (CAD) and the balance of payments (BoP), etc. These, therefore, have assumed a much larger priority, urgency at this point," Nageswaran said. Refraining from giving any policy prescriptions on the securitisation front, Nageswaran stressed that the financial market has to keep up with the activity in the real sector and reminded that it was the extra focus on derivative products which led to the Global ...

India raises Russian crude oil and US gas imports in May, shows data

Imports of Russian crude oil rose to 1.92 million barrels per day till May 28

Trump to meet with aides on proposed Iran deal, may lift Hormuz blockade

Trump says he will take a final call on a potential Iran deal after Situation Room meeting, outlining conditions including reopening the Strait of Hormuz

DFS secy advises PSU banks to ramp up preparedness amid West Asia war

DFS Secretary M Nagaraju reviewed PSU banks' performance and urged them to remain prepared and adaptable in view of the evolving situation in West Asia

Urea sales jump 10%, DAP 39% amid panic buying after West Asia war

Consumers bought around 5.05 million tonnes of urea between March 1 and May 25, 2026, as against 4.60 million tonnes during the same period last year

Indian Oil Corp buys 5 million barrels of crude from Africa, West Asia

IOC purchased Angola's Kissanje and Nemba crude for delivery to its Paradip refinery

MSME drugmakers face capital stress amid prolonged West Asia disruptions

Cost pressures, inventory strains likely to hit margins by 3-5%

Reliance Industries flags 'extreme volatility' risks from West Asia crisis

Near-term retail demand may stay sensitive to macro conditions

Price hikes nearly neutralise rise in raw material costs: Berger MD & CEO

Berger Paints says recent price hikes have nearly offset rising raw material costs, with no immediate signs of demand slowdown despite oil-led inflation

Retail investors double down on equities amid West Asia conflict

In April alone, they snapped up shares worth ₹19,664 cr, recording their biggest buy since Oct '24

Pvt capex revival, US-Iran truce key to next market upmove: Nimesh Chandan

Capex revival, easing West Asia tensions and improving earnings could drive Indian markets towards fresh highs, says Bajaj Finserv AMC CIO

India's investment slowdown is a fallout of deeper structural shifts

Taken together, the Indian economy requires some mechanism for stimulating private investment in the real economy

Govt raps industrial users buying cheaper retail fuel amid crisis

The Centre has flagged rising diversion of discounted retail fuel by industrial users even as public-sector oil firms absorb heavy losses to shield consumers

Air India reduces June-August domestic operations due to fuel costs

Air India said it has temporarily rationalised domestic flight frequencies between June and August due to high fuel prices linked to the ongoing West Asia conflict

FY27 toll collection growth may moderate to 5-7% amid West Asia conflict

Crisil Ratings says slowing commercial traffic and geopolitical tensions may temper toll collection growth in FY27, though credit profiles of road assets are expected to remain stable

Experts seek import discipline, trade reforms amid West Asia tensions

Experts at a Think Change Forum roundtable called for tighter import controls, tax stability and faster trade remedies to protect India's economy from global disruptions