Page 20 - West Asia

Stocks resume slide as Donald Trump extension fails to calm markets

US Treasury yields hit highest since July as bonds fall

RBI open market operations help banks cut treasury losses in Q4FY26

RBI's bond purchases and switch operations are helping banks cushion treasury losses in Q4 despite rising yields driven by global volatility and the West Asia crisis

G7 meets amid wars as Rubio tries to sell US strategy to sceptical allies

Group of Seven foreign ministers met in France on Friday to discuss the conflicts in West Asia, and between Russia and Ukraine, with deep divisions apparent over the US-Israel war with Iran following US President Donald Trump's repeated complaints that US' allies have ignored or rejected requests for help in confronting Iran's retaliation, including the closure of the Strait of Hormuz to most of international shipping. US Secretary of State Marco Rubio joined his counterparts from G7 nations only 24 hours after Trump's latest volley of insults lobbed at NATO, as instability in oil markets persisted with the Iran war entering its fourth week along with uncertainty over the status of potential negotiations to end the crisis. Most of US' closest allies have greeted the Iran war with deep scepticism, sentiments that were on display as the G7 foreign ministers met at a historic 12th-century abbey in Vaux-de-Cernay, outside Paris, even as they urged a diplomatic solution to resolve the ...

Luxury travel remains resilient despite ongoing war: Leela Hotels CEO

Luxury travel demand remains resilient despite geopolitical tensions, with travellers shifting to domestic destinations and alternative regions, say hotel industry executives

India e-commerce hit by fuel, logistics strain amid West Asia crisis

Fuel shortages, tighter diesel credit and LPG constraints are disrupting logistics and delaying expansion, squeezing margins as demand shows early signs of softening

West Asia crisis: PM Modi interacts with CMs, bats for 'Team India' spirit

Prime Minister Narendra Modi reviewed preparedness with chief ministers as the Centre set up an informal group of ministers to monitor the impact of the West Asia conflict

India sends humanitarian aid to Iran amid conflict, eyes Hormuz exit

India sends humanitarian aid to Iran while seeking safe passage for ships through the Strait of Hormuz and pushing for Brics consensus amid the West Asia conflict

HDFC Bank probes chairman's resignation letter; RBI's CBDC push; Fino PB withdraws CEO reappointment

Bankers seek debt moratorium for MSMEs With the West Asia conflict nearing a month, bankers have urged the RBI and Centre to consider a time-bound moratorium on debt repayments for MSMEs

Oil up 2.5% but set for first weekly decline since start of Iran war

Brent crude futures rose by $2.73, or 2.53%, to $110.74 a barrel by 1257 GMT. U.S. West Texas Intermediate futures were up $2.39, or 2.53%, at $96.87

Iran starts to formalise its chokehold on Hormuz with a 'toll booth' regime

Iran appears to be setting itself up as the gatekeeper for the Strait of Hormuz, the world's most important artery for oil shipments. The move could cement Tehran's de facto chokehold over the crucial waterway and formalize its ability to keep its own oil flowing to China. Iranian communications to the United Nations maritime authority and the experience of ships transiting the strait suggest the creation of something akin to a "toll booth." Ships must enter Iranian waters and be vetted by Iran's Islamic Revolutionary Guards Corps. At least two vessels have paid for passage. Traffic through the strait has fallen by 90% since the start of the Iran war, sending global oil prices skyrocketing and inflicting alarming shortages on the Asian nations that get their oil from Persian Gulf countries via the strait. Only about 150 vessels, including tankers and container ships, have transited since March 1, according to Lloyd's List Intelligence shipping information firm. That's a little more

West Asia crisis: Pilots' body ALPA India seeks centralised risk assessment

Pilots' grouping ALPA India on Friday urged the civil aviation ministry and regulator DGCA to suspend flight operations into high-risk conflict zones till a centralised risk assessment is carried out amid the escalating West Asia crisis. Stressing the need for having war-risk insurance, it also said the watchdog should mandate immediate disclosure and verification of valid insurance coverage, including war-risk clauses, for all crew operating into or near conflict zones. The Middle East conflict involving the US, Israel and Iran has significantly disrupted flight operations, and airlines have curtailed their services. In a letter to DGCA, Airline Pilots' Association of India (ALPA India) said commercial airlines do not possess the requisite intelligence, surveillance capabilities, or geopolitical risk assessment infrastructure necessary to adequately evaluate threats in active conflict environments. The Directorate General of Civil Aviation (DGCA) should immediately review and ...

Fuel price relief? Why India cut fuel excise duty now and what it means for oil prices

The government has reduced excise duty by ₹10 per litre on both petrol and diesel amid rising global oil risks linked to West Asia tensions. This brings excise on petrol down to roughly ₹3 per litre,

Israel's defence minister warns attacks on Iran will 'escalate, expand'

Israel's defence minister said on Friday that Israeli attacks on Iran "will escalate and expand." Israel Katz made the comment in a statement noting that he and Prime Minister Benjamin Netanyahu "warned the Iranian terrorist regime to stop firing missiles at the civilian population in Israel." "Despite the warnings, the firing continues - and therefore (Israeli military) attacks in Iran will escalate and expand to additional targets and areas that assist the regime in building and operating weapons against Israeli citizens," Katz said. "They will pay heavy, increasing prices for this war crime.

India's forex reserves drop $11.41 billion to $698.346 billion: RBI data

India's forex reserves dropped by USD 11.413 billion to USD 698.346 billion during the week ended March 20 due to a sharp decrease in gold reserves, the RBI said on Friday. In the previous reporting week, the overall reserves had dropped USD 7.052 billion to USD 709.759 billion. The kitty had expanded to an all-time high of USD 728.494 billion during the week ended February 27 this year, before the onset of the West Asia conflict. For the week ended March 20, foreign currency assets, a major component of the reserves, increased by USD 2.127 billion to USD 557.695 billion, the central bank's data showed. Expressed in dollar terms, the foreign currency assets include effects of appreciation or depreciation of non-US units, such as the euro, pound, and yen, held in the foreign exchange reserves. However, the value of gold reserves decreased by USD 13.495 billion to USD 117.186 billion during the week, the RBI said. The Special Drawing Rights (SDRs) were down USD 65 million to USD 18

Shipping to and from ports of US-Israeli allies is prohibited: Iran's IRGC

The IRGC added that the Strait of Hormuz is closed and any transit through the waterway will face "harsh measures"

Markets crash: Sensex down 1,700 pts intraday, Nifty below 23k; key reasons

Stock Market crash today: Sensex and Nifty 50 snapped their two-day gaining streak on Friday after US President Donald Trump extended his deadline for Iran to reopen the Strait of Hormuz to April 6

Govt imposes taxes on fuel exports as West Asia conflict jolts supply

The country raised LPG prices earlier this month and subsequent speculation around a likely increase in pump prices of diesel and gasoline has led to panic buying

Housing sales in Jan-Mar dip 7% due to West Asia conflict: Anarock

Housing sales rose 9 per cent annually to over 1.01 lakh units in January-March across top-seven cities on low-base effect but fell 7 per cent from the previous quarter amid global economic uncertainties due to the West Asia conflict, according to Anarock. Sales increased to 1,01,675 units during the current quarter from 93,280 units in the year-ago period. Real estate consultant Anarock said the sales in value terms grew 6 per cent to Rs 1.51 lakh crore during the January-March period from Rs 1.42 lakh crore in the corresponding period of the preceding year. Anarock, however, pointed out that housing sales fell 7 per cent in volume terms and 6 per cent value wise from the previous quarter because of West Asia conflict. In the fourth quarter of the last calendar year, 1,08,970 units were sold for Rs 1.60 lakh crore. Anuj Puri, Chairman of Anarock Group, said, "While India's residential segment's long-term fundamentals remain strong, the short-term tremors of the Iran War were clea

Petrol excise cut: How fuel taxes fill govt coffers and who gets the money

The Centre's excise duty cut has put the spotlight back on petrol and diesel taxes, a major revenue source for both Centre and states and a key pillar of government finances

India cuts fuel duty on petrol & diesel, imposes export levy on diesel, ATF

Ministers say decision aims to cushion consumers and support oil marketing companies as crude prices surge amid Iran War