Page 3 - West Asia

Next mkt upcycle to be earnings-led, not valuation-driven: Anand Shah

ICICI Prudential AMC's Anand Shah sees manufacturing-led mid and smallcaps sustaining outperformance as earnings growth supports valuations

V-P JD Vance arrives in Switzerland for first peace talks with Iran

A high-level Iranian team arrived in Switzerland for peace talks with the US, as US Vice President JD Vance departed Washington for meetings that Pakistan said will begin

3 Indian tankers reemerge in Gulf of Oman, signalling Hormuz traffic uptick

Desh Vibhor, Desh Vaibhav and Sanmar Herald were observed in Gulf of Oman and the Arabian Sea on Sunday, after having been last seen signaling their attempt to cross the Strait of Hormuz late Friday

Pak PM Sharif, Army Chief Munir leave for Switzerland for US-Iran talks

Pakistan Prime Minister Shehbaz Sharif and its Army Chief Asim Munir left for Switzerland early Sunday to participate in the technical-level talks between the US and Iran. As a follow-up to the signing of the Islamabad MoU, technical-level talks will be held in Burgenstock, Switzerland, on Sunday, according to the prime minister's office. "The prime minister, along with a high-level delegation, has departed from Islamabad for Switzerland," the PMO said in its statement issued after midnight. It added that Prime Minister Sharif and Field Marshal Munir will participate in these talks. Earlier, Pakistan had announced that the talks would be held in Switzerland after they were postponed on Friday. The talks are aimed at adding key details to the preliminary accord to halt the nearly four-month war between the US and Iran signed earlier this week by US President Donald Trump and Iranian President Masoud Pezeshkian. US Vice President J D Vance was initially supposed to hold a first rou

Iran negotiators, Vance head for Switzerland as Lebanon fighting continues

The IRGC warned ships would be at risk ​if they approached the waterway, a vital conduit for global oil and gas supplies

US to charge tolls in Hormuz if Iran deal not reached in 60 days: Trump

US President Donald Trump on Saturday threatened to impose US tolls in the Strait of Hormuz if a final deal with Iran isn't reached in 60 days. Trump, spending the weekend at Camp David, underscored that the initial agreement to end the war with Iran calls for toll-free travel through the vital waterway for 60 days. Then he said: "there will be NO TOLLS after the 60 day period has expired, unless they are imposed by and for the United States of America, should the deal not be completed." Trump said the money would be for "services rendered as the Guardian Angel to the countries of the Middle East for purposes of both past, present, and future reimbursement of costs." The US president has faced a lot of blowback domestically for how the memorandum of understanding with Iran addresses the issue of tolls in the Strait of Hormuz. The deal only secures toll-free passage for 60 days and doesn't preclude future fees.

Oil shipments rise in Hormuz while questions grow over Iran's terms

Oil tanker traffic through the Strait of Hormuz is rebounding after the US-Iran ceasefire, though Tehran's transit conditions continue to unsettle shippers

OMCs incur ₹22,000 crore LPG under-recoveries amid West Asia crisis

Higher global LPG prices and limited pass-through to household consumers have resulted in Rs 22,000 crore of under-recoveries for oil marketing companies since March

Gold, Silver ETFs tumble up to 6% as risk appetite weakens amid IT selloff

Silver ETFs bore the brunt of the correction, falling as much as 6 per cent during the session, while gold ETFs declined over 3 per cent

Trump used 'all kinds of leverage', says Mojtaba Khamenei on US-Iran deal

Khamenei said Iran agreed to the US-Iran deal only after assurances on national rights, while insisting future talks with Washington do not mean accepting American demands

'You can't kill your way to security': JD Vance's blunt warning to Israel

US vice-president publicly rebukes Israel over Iran and Lebanon, arguing that military force alone cannot guarantee security and reminding Jerusalem that Washington remains its strongest ally

Oil prices fall to lowest after ceasefire deal, touch pre-Iran war level

Oil slid to pre-Iran war lows as the US-Iran deal eased supply fears, lifting Indian equities even as hawkish Fed signals weighed on IT and gold

From war to diplomacy: Versailles and the treaties that shaped history

US President Donald Trump's signing of the US-Iran deal at Versailles has renewed focus on the palace's long history as a venue where wars ended and major diplomatic decisions were made

US, Iran unveil 14-point interim pact to halt conflict, reopen Hormuz

Agreement sets stage for 60-day negotiations on sanctions relief, nuclear programme and regional security

India's remittance inflows stay resilient despite West Asia conflict

Precautionary transfers boost flows; FCNR (B) deposits may offer near-term support

Best of BS Opinion: Why India must confront deeper economic risks

Today's opinions explore India's external vulnerabilities, the concentration of global capital in US technology, energy reforms, disclosure norms, and a nuanced portrait of Kashmir through the Chenab

Rupee appreciates for 3rd straight day on easing West Asia tensions

The rupee appreciated for the third straight session on Tuesday to close 5 paise higher at 94.53 (provisional) against the US dollar, supported by easing West Asia tensions and extended fall in crude oil prices. Forex traders said that with the reported de-escalation of the US-Iran conflict and diplomatic agreements regarding the Strait of Hormuz, the immediate threat to global energy supplies has significantly reduced. Moreover, softening of the US dollar and a decline in US treasury yields also supported the USD/INR pair, they said. At the interbank foreign exchange, the rupee opened at 94.69 against the US dollar and traded in the range of 94.48-94.71. Eventually, it settled at 94.53 (provisional), up 5 paise from its previous close. "We expect the rupee to trade with a positive bias as global markets cheer the US-Iran deal, which has boosted global risk sentiments. Declining US dollar and falling crude oil prices may further support the rupee. "Easing inflation concerns and ..

Thaw in West Asia: Marine insurance rates ease, market awaits durable peace

Industry executives expect war-risk insurance rates to soften further if the US-Iran agreement leads to sustained reopening of the Strait of Hormuz and lower regional tensions

India must use West Asia respite to pursue overdue policy reforms

An end to the West Asia conflict augurs well for India, but it should not lull the government into policy inaction

Qatar plans to rapidly boost LNG production after Strait of Hormuz opens

Qatar plans to restore most of its LNG export capacity within two months of Hormuz reopening, easing pressure on global gas markets