Page 3 - West Asia

RBI monetary policy: The critical need to attract foreign savings

Rising fuel prices and tighter global conditions are reshaping India's funding landscape, increasing reliance on bank credit as foreign and domestic savings slow

What is Beaufort Castle, Lebanon's Crusade-era fortress seized by Israel

Perched above the Litani gorge, the 12th-century fortress played a key role during the Crusades and has remained strategically important through successive conflicts in southern Lebanon

West Asia crisis: ECLGS 5.0 draws ₹1.71 trn credit demand, says govt

Emergency credit applications have crossed Rs 1.71 lakh crore as the government moves to secure fertiliser supplies and safeguard food and energy security amid the West Asia crisis

West Asia tensions may soften Q2 office leasing: KRT CEO Shirish Godbole

KRT expects continued growth in occupancy and distributions despite short-term leasing caution amid West Asia tensions and rising construction costs

West Asia conflict fallout: India's GDP growth likely slowed in Q4

India's economic growth likely moderated in the March quarter as supply-chain disruptions and weaker high-frequency indicators tempered momentum, though overall activity remained resilient

RBI MPC meet: Amid inflation, growth concerns, rate hike can wait for now

Inflation will rise in the second half of the year. Growth, too, will falter. It's time to explore other options

US close to 'good deal' with Iran: Trump amid reports of changes to pact

President Donald Trump has said the US and Iran are close to a "very good deal," but if Washington does not get what it wants, then it will "end it in a different way." Trump's remarks came during an interview to his daughter-in-law Lara Trump, which was telecast on Fox News on Saturday night. "We're close to a very good deal. If you're going to be in a hurry, you're not going to make a good deal, and slowly but surely, we're getting what we want - and if we don't get what we want, we're going to end it a different way," Trump said. Trump said the Iranians are "good negotiators," but argued that the United States now holds "all the cards" because Iran has been "militarily defeated." "But we're close to a very good deal. If we can make it, good. Otherwise we just start up with the Department of War as we call it," the US President said. Trump said the Iranians had stated they were not developing a nuclear weapon, but he countered by asking what if they bought one. "I said, well wh

Iran war forces farmers towards fertiliser alternatives like compost

When Senegalese farmer Abou Sow first watched US missiles strike Iran on social media, he had a sinking feeling it would soon affect agriculture in the West African nation. Since the war began on February 28, fertilizer prices have risen by 40%. Sow was better prepared than most. Eight years ago, he gave up chemical fertilizers for organic compost and other natural sources. He now rallies farmers in Senegal to buy manure from local herders and gives advice on how to make a rich compost, picking out wriggling worms a healthy sign. "We can't afford to wait for a ceasefire," Sow said. "It's risky to depend on chemical fertilizers." Iran's grip on the Strait of Hormuz has affected the supply of natural gas, essential for making chemical fertilizer, as well as global shipping. The Gulf region produces 30% of globally traded chemical fertilizer, according to the International Food Policy Research Institute, and global prices have increased by 50%, according to the World Bank's fertilizer

West Asia conflict to marginally impact steel prices: SAIL chairman

State-owned SAIL expects the ongoing West Asia crisis to have only a marginal impact on its steel prices and is establishing alternative shipping routes to ensure the uninterrupted supply of raw material from the region, a top company executive said. The company buys raw materials, such as limestone from Dubai, Ashok Panda, the newly appointed Chairman of the steel major said. "So far as SAIL is concerned, we will have some impact with respect to the fluxes, limestone, et cetera, which we are buying from Dubai. So, the landed cost, the CFR (cost and freight) cost is going to go up, because it was around USD 23-24, now it will be around USD 35," the official said in reply to a question related to the impact of the West Asia crisis. But overall, in sellable steel, its impact will be hardly Rs 100 or Rs 200, the chairman said. Panda also said that in times of crisis, the availability of raw materials is crucial rather than their cost, for uninterrupted operations, and that SAIL is ...

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