Page 3 - West Asia

West Asia conflict keeps mkts on edge; Indices rebound as oil fears ease

FPIs were net sellers to the tune of ₹1,874 crore, while domestic institutions provided buying support worth ₹5,592 crore

Asia's oil lifeline at risk as Iran conflict threatens key trade routes

Asia buys more than four-fifths of all the crude produced in the Middle East, and 90 per cent of that goes through the Strait of Hormuz

India has weeks of oil supply, imports continue via many routes: Puri

India, the world's third-largest oil importer and fourth-biggest gas buyer, has enough energy supplies to meet requirements for several weeks and continues to receive supplies from several routes, Oil Minister Hardeep Singh Puri said amid escalating tensions in the globe's biggest energy supply regions. In a post on X, the minister said the government has been "closely monitoring the evolving geopolitical situation in the Middle East since the past two weeks." "Under the leadership of PM @narendramodi Ji, we have diversified our supplies in the past few years and a large volume of our supplies do not come through the Strait of Hormuz now," he said. The Strait of Hormuz, which Iran is threatening to shut down following US strikes on its nuclear facilities, is an important transit for oil coming from the Middle East. About 2 million barrels per day (bpd) of crude oil out of India's total import of 5.5 million bpd transits through the narrow waterway. However, India has diversified ..

Policy easing call this cycle to be more data-dependent: MPC member Saugata

This (West Asia conflict) is just one of the sources of uncertainty, albeit the 800 pound gorilla at the moment

Rupee expected to depreciate to 87 per dollar by July-end: BS Poll

The rupee settled at 86.59 per dollar on Friday. Crude oil prices remain a significant idiosyncratic risk for the rupee, said market participants

Iran launches more than 40 missiles toward Israel, 23 people injured

Hours after the US struck three Iranian nuclear sites, Iran launched more than 40 missiles toward Israel on Sunday, wounding 23 people and destroying apartment buildings and homes in three cities. At an impact site in Tel Aviv, the blast had sheared off the face of a multistory residential building and damaged several others including a nursing home in a radius of hundreds of metres. But few people were wounded, as many residents had been evacuated and others made it to bomb shelters. Deputy Mayor Haim Goren, who assisted at the scene, said it was nevertheless "miraculous" that more people were not hurt. Relatives and health aides helped residents many with wheelchairs or walkers to leave the nursing home, where windows were blown out up to the top on the 11th floor. It's like a typhoon came through my apartment, said Ofer Berger, who lives near the impact site on the seventh floor of a high-rise. All of the apartments in this area are destroyed, he said. Emergency services sai

Air India cuts narrowbody flights by 5%, suspends three routes till July

Air India to reduce frequencies on 19 routes and suspend three services until mid-July to maintain reliability amid safety audits and aircraft availability challenges

Air India to reroute international flights amid tensions in West Asia

Air India will avoid parts of Persian Gulf in addition to Iran, Iraq and Israel, with some routes to Europe and North America likely to see longer travel times

Israel hits Iran's Isfahan nuclear research facility, kills 3 commanders

Israel's military said Saturday it struck an Iranian nuclear research facility overnight and killed three senior Iranian commanders in targeted attacks as the war between the two nations continued into a second week. Early Saturday, smoke could be seen rising from an area near a mountain in Isfahan, where a local official said Israel had attacked the nuclear research facility in two waves. The target was two centrifuge production sites, and the attacks came on top of strikes on other centrifuge production sites elsewhere in recent days, according to an Israeli military official speaking on condition of anonymity under army guidelines to brief reporters. It was the second attack on Isfahan, which was hit in the first 24 hours of the war as part of Israel's goal to destroy the Iranian nuclear program. Akbar Salehi, Isfahan province's deputy governor for security affairs, confirmed the Israeli strikes had caused damage to the facility but said there had been no human casualties. Iran

Datanomics: Iran accounts for nearly 20% of Indian students in West Asia

From 2015 to 2025 so far, around eight countries in the world have experienced war-type conflicts

Impact of West Asia conflict on India Inc so far is limited: Crisil Ratings

CRISIL Ratings in its latest report said that the ongoing conflict in the Middle East so far did not have any significant impact on global trade of Indian corporates. However, if the uncertainties aggravate, some sectors might feel the impact, the report said. The uncertainties have impacted global crude markets, with the Brent crude hovering in the range of USD73 to USD76 per barrel over the past one week. During April and May, the Brent crude was hovering around USD 65 per barrel. Any escalation of the tensions could result in further spike in oil prices, the report said, adding that this will benefit upstream oil companies and margins for the downstream refiners will get squeezed, according to the report. It said India's direct trade with Israel and Iran, the two countries engaged in the conflict, is minuscule at less than one per cent of total trade. While India's major export to Iran is basmati rice, trade with Israel is more diversified, the report added. Any escalation of

Sensex rises 1,100 pts, Nifty tops 25,100: What's driving market rally?

Why are markets rising today? Sensex and Nifty gained over 1 per cent in trade; Sensex rallied 935 points and Nifty traded above 25,000; here's why

India's fuel exports face EU sanction risk amid West Asia oil crisis

The bloc's proposal on barring imports of diesel, gasoline & jet fuel derived from Russian crude oil in refineries is of concern because it does not require US or G7's cooperation for implementation

Iran war reflects a changed west asia and a new Israeli military doctrine

For years, Israel contained its conflicts with Tehran, Hamas and Hezbollah. The broad assault on Iran highlights a shift in strategy

Airports close across West Asia as Israel-Iran conflict shuts airspace

After Israeli strikes landed near the hotel where he was staying in the Iranian province of Qom, Aimal Hussein desperately wanted to return home. But the 55-year-old Afghan businessman couldn't find a way, with Iranian airspace completely shut down. He fled to Tehran after the strike Sunday, but no taxi would take him to the border as the conflict between Iran and Israel intensified. Flights, markets, everything is closed, and I am living in the basement of a small hotel, Hussein told The Associated Press by cellphone on Monday. I am trying to get to the border by taxi, but they are hard to find, and no one is taking us. Israel launched a major attack Friday with strikes in the Iranian capital of Tehran and elsewhere, killing senior military officials, nuclear scientists, and destroying critical infrastructure. Among the targets was a nuclear enrichment facility about 18 miles from Qom. Iran has retaliated with hundreds of drones and missiles. The dayslong attacks between the two

Israel stock market shrugs off war concerns as TA-125 trades near record

Israel's equity markets defy regional conflict, with TA-125 hitting record highs despite ongoing missile strikes with Iran

US 'could get involved' in Iran-Israel conflict, says President Trump

The US has jet fighters, ships and ground-based air-defense systems positioned near the warring countries to help counter any Iranian attack on American assets or people

Travel industry in turbulence amid worsening West Asia situation

Industry executives said closure of airspaces leading to longer routes and flight times has already led to a 12-15% hike in air fares on some routes

War clouds over West Asia: The risks of economic fallout are high

Since India has relations with both combatants and its economy stands to lose more than any other SCO member from this conflict, it has chosen to carve out an independent position

Putin, Trump discuss West Asia, Ukraine talks on phone call, says Kremlin

Russian President Vladimir Putin and US President Donald Trump held a 50-minute phone call Saturday to discuss the escalating situation in the Middle East and Ukraine peace talks, Putin aide Yuri Ushakov said. During the conversation, Putin briefed Trump on his recent talks with the leaders of Iran and Israel and reiterated Russia's proposal to seek mutually acceptable solutions on the Iranian nuclear issue.