Page 36 - West Asia

Agro-chemical sector sees input costs falling 8-9% after customs duty cut

The duty exemption will start from April 2 and continue till June 30, 2026, an official order said

West Asia crisis: More measures on anvil to support exporters, says Goyal

The government has announced measures to help exporters tackle the impact of the West Asia crisis and some more decisions are on the anvil, Commerce and Industry Minister Piyush Goyal said on Thursday. An US-Israel attack launched on Iran in February has disrupted movement of ships in the international waters. It has also pushed air freight and insurance cost for traders. To help exporters, the government has announced certain decisions through a relief package and "some more decisions are on the anvil, are under consideration at different levels and different ministries," he told reporters here. As part of relief measures, the government is looking at providing some freight subsidies. Last month, the government rolled out a Rs 497 crore RELIEF (Resilience & Logistics Intervention for Export Facilitation) scheme for exporters, who are facing disruptions due to the ongoing West Asia conflict. Goyal informed that during his bilateral meetings with trade ministers of other countries

BCGCL, MCL sign land deal for India's first coal gasification project

BCGCL and MCL sign a land agreement for India's first indigenous coal gasification project in Odisha, aimed at boosting energy security and reducing import dependence

Hormuz crisis has caused economic strain, energy instability: Navy Chief

The admiral said competition at sea is no longer confined to oil and energy. It is expanding to resources that will shape future growth, he asserted

Iran war disrupts US small businesses with shipping complications

The Iran war is making life more difficult for small business owners across the country, who are grappling with shipping complications, higher costs and consumers tightening their grip on their wallets. A shoe designer is struggling to import its shoes from Vietnam; a pistachio grower has millions of dollars worth of pistachio exports sitting in the water; a home landscaper in Kansas City is stockpiling fertilizer as prices skyrocket; and a Chicago electronics store owner is facing pain at the pump. Small business owners say the severe supply chain disruptions during the pandemic were worse - but they fear that if the war stretches on for months, it might start to come close. "The costs are rising, the routes are changing, and capacity is tightening. It's all happening at the same time, and that's a perfect storm for small businesses," said Brandon Fried, executive director of the Airforwarders Association, a trade group for US companies that move cargo through the supply chain on a

South Korea President seeks swift parliamentary nod for $17 bn energy plan

Lee highlighted that disruptions in global energy supply--particularly due to virtual blockades around the Strait of Hormuz have significantly pushed up fuel prices

West Asia war: Trump vows to hit Iran; Tehran appeals to American citizens

Tensions remain high in West Asia as Donald Trump threatens stronger attacks on Iran if talks fail. Here are the top updates at 10 am (IST)

We'll endure any US attack: Full text of Iranian Prez's open letter to US

Iran's President Masoud Pezeshkian in a message to American people said both confrontation and engagement between Iran and the US are accessible, adding that Iran will endure any aggression by the US. "Today, the world stands at crossroads. Continuing along the path of confrontation is more costly and futile than ever before. "The choice between confrontation and engagement is both real and consequential; its outcome will shape the future for generations to come," said Pezeshkian. "Throughout its millennia of proud history, Iran has outlasted many aggressors. All that remains of them are tarnished names in history, while Iran endures - resilient, dignified, and proud." Pezeshkian did not mention a ceasefire offer last week by President Trump, though he accused Israel of dragging the US into a war against Iran. "Is it not also the case that America has entered this aggression as a proxy for Israel, influenced and manipulated by that regime?" asked Pezeshkian.

Trump initially laid out five goals for Iran war. Here's where they stand

The US and Israel have done significant damage to Iran's military capabilities. But Iran still fires missiles, has nuclear material and coordinates with militias in the region

China, Japan, South Korea should be involved in opening Hormuz: Trump

US President Donald Trump Wednesday said China, Japan and South Korea should be involved in opening Strait of Hormuz. The president has previously directed much of his anger at NATO allies for their reluctance to get involved in securing the Strait of Hormuz until the US and Israel finish prosecuting their war against Iran. In his remarks at the private Easter lunch he hosted at the White House on Wednesday, Trump also expressed frustration with some Asian countries that are more reliant on Gulf oil than the US. "Let South Korea, you know, we only have 45,000 soldiers in harm's way over there, right next to a nuclear force - let South Korea do it," Trump said. "Let Japan do it. They get 90 per cent of their oil from the strait. Let China do it." Trump also derided NATO as 'very bad allies' and 'paper tiger' during the private lunch, ahead of his address. "NATO treated us very badly, and you have to remember it because they'll be treating us badly again if we ever need them," Trump

We'll hit Iran hard over next 2-3 weeks, send them to 'stone age': Trump

Trump said talks with Iran were underway but warned that the US would step up strikes if no agreement is reached

Brent above $100 on supply shocks; de-escalation may cool prices: Analyst

The risk-reward profile has shifted decisively to the downside as de-escalation signals intensify, raising the prospect of a rapid $20-30/bbl correction as the geopolitical risk premium unwinds

ATF, commercial LPG and premium fuel prices soar amid oil squeeze

Jet fuel prices were partially raised to cushion domestic travellers despite global surge, while commercial LPG prices were hiked and domestic rates kept unchanged

Restaurant industry staring at ₹79,000 crore hit amid LPG shortage

LPG supply constraints are forcing restaurants to shut outlets, cut menus, and reduce hours, with industry losses estimated at up to ₹79,000 crore

Indian drugmakers may lose up to $750 million if Iran war drags on

Indian pharmaceutical companies may face losses of up to $750 million if the West Asia conflict continues, amid supply chain disruptions and rising logistics costs

Passenger vehicle wholesales rise 16% in March despite West Asia conflict

Passenger vehicle wholesales rose 16.3 per cent in March, driven by GST-led demand recovery and strong SUV traction, even as geopolitical tensions weighed on costs

PM Narendra Modi chairs CCS meet to review West Asia conflict impact

PM Modi reviews measures across energy, agriculture and logistics sectors to mitigate the impact of the West Asia conflict and ensure supply stability

War in West Asia risks triggering a new era of oil-induced stagflation

The war could result in huge geoeconomic shifts. The big immediate winner is Russia, benefitting from higher oil prices and the removal of sanctions

Will FY27 be a year of fixed deposits as West Asia war dents stock returns?

Data shows that FDs beat stock market returns in FY26. Analysts, however, expect equities to outperform most asset classes in FY27 despite the ongoing geopolitical conflict in West Asia.

Sensex soars 2,000 pts, Nifty near 23,000: Key reasons for today's rally

India VIX, which reflects investors' perceptions of market volatility in the near term, fell 9.89 per cent to 25.13 amid hopes of de escalation in the West Asia conflict