Page 39 - West Asia

West Asia crisis: Maha ACS says no shortage of fuel, LPG supply stable

The Maharashtra government on Monday said there is no shortage of petroleum products in the state amid the West Asia crisis and asked people to avoid panic buying. The state had faced challenges in LPG supply due to dependence on imports from Gulf countries, but the situation is now improving with calibrated policy measures by the Union government, Additional Chief Secretary (Food and Civil Supplies) Anil Diggikar asserted. Addressing a joint press briefing, he said, "Petrol and diesel stocks are adequate in the state. The situation has stabilised. LPG supply to the commercial sector has also been partially restored." Controller of Rationing and Nodal Officer (Crisis Management for Integrated Food Supply) Chandrakant Dange said LPG supply to commercial cylinder distribution was halted initially on the Centre's directives. "Subsequently, phased relaxation was introduced. First, 20 per cent allocation was allowed for essential services such as hospitals, schools, orphanages, ...

Current year more challenging amid West Asia crisis concerns: FM Sitharaman

She said the current year is likely to be more challenging due to the escalating conflict in the West Asia, which has heightened regional security concerns

Israel defence minister claims strike on Iran's South Pars petrochem plant

Attacks targeted facilities at Iran's South Pars natural gas field on Monday, Iranian media outlets reported. The semiofficial Fars news agency and the judiciary's Mizan news agency both reported the attack, blaming America and Israel. Neither country immediately claimed any attack on the gas field at Asaluyeh in Iran's southern Bushehr province. An earlier Israeli attack on South Pars saw Iran increasingly target Gulf Arab oil and natural gas sites. US President Donald Trump has warned of possible attacks on power plants and bridges this week if the Strait of Hormuz is not opened.

Govt seeks 2.5 mn metric tonnes of urea amid West Asia supply disruptions

India, where farming is a mainstay, imports fertilisers such as urea, diammonium phosphate (DAP) and muriate of potash, as well as liquefied natural gas, a key feedstock for urea production

Why Sensex cut losses, up 1,400 pts from day's low; Nifty at 22,968?

In the past three trading sessions, the Sensex has surged more than 2038 points, or nearly 2.75 per cent. Similarly, the Nifty 50 index has added more than 578 points, or 2.6 per cent

Larsen & Toubro gains 3%; stock up 13% from March low

The stock price of engineering and construction (E&C) major was trading higher for the third straight day, gaining 6 per cent during the period.

Last-ditch diplomacy: Inside US-Iran plan to freeze West Asia war for 45 days

US and Iran are exploring a 45-day ceasefire through back-channel diplomacy to prevent further escalation in West Asia, stabilise oil markets and ease pressure on global shipping routes

Iranian foreign minister dials EAM Jaishankar, discusses West Asia crisis

External Affairs Minister S Jaishankar spoke to Iranian Foreign Minister Abbas Araghchi and Qatari Prime Minister Sheikh Mohammed bin Abdulrahman bin Jassim Al Thani on Sunday and discussed the West Asia conflict amid US President Donald Trump's fresh ultimatum to Iran demanding the reopening of the Strait of Hormuz. The external affairs minister also held a phone conversation with Foreign Minister of the United Arab Emirates Sheikh Abdullah bin Zayed Al Nahyan. It is understood that the conflict's impact on global energy supplies figured prominently in the talks. "Received a call from Foreign Minister @araghchi of Iran. Discussed the present situation," Jaishankar said on social media without elaborating. The Iranian embassy in New Delhi said the two foreign ministers discussed bilateral relations as well as regional and international developments. Jaishankar's phone conversations with leaders of the three West Asian nations came against the backdrop of a spike in tensions in the

Best of BS Opinion: Iran conflict could trigger prolonged bear market

From US foreign policy risks and India's labour data changes to bear market fears and FCRA concerns, today's Best of BS Opinion brings together key insights shaping global and domestic debates

West Asia conflict, airspace curbs likely to cost carriers ₹2.5K crore

The broader conflict in West Asia, the largest international market for Indian carriers, has forced a sharp reduction in daily flights relative to the summer schedule

West Asia conflict: Fear arrives early in fields of Haryana and Punjab

In third part of series on West Asia impact, wholesalers warn of thin stocks as hoarding fears drive early fertiliser buying

West Asia conflict: Predictable expenses likely to boost EV demand

CSEP study says high crude prices may accelerate EV transition, but electric cars will continue to rely on fiscal incentives to remain competitive with ICE vehicles till 2030

CII asks Finance Ministry for fiscal support amid West Asia crisis

Industry body proposes credit support, tax relief and policy steps to shield MSMEs, exporters and energy-intensive sectors from disruptions caused by the ongoing West Asia crisis

Iran war starts pinching US as gas prices, transport costs surge

The war against Iran has started to impact Americans, with Amazon announcing a fuel surcharge for its e-commerce deliveries and some airlines hiking fees for checked-in baggage to offset higher fuel costs. The average price of petrol in the US has increased to USD 4.09 a gallon on Friday, up more than one dollar from just before the war and the highest level since August 2022. The cost of diesel has risen sharply from USD 3.64 per gallon a year ago to USD 5.53 per gallon on Friday, according to data maintained by the American Automobile Association (AAA). Diesel is widely used in farming, construction and transportation, besides other industries. E-commerce giant Amazon also said that, beginning April 17, it plans to add a 3.5 per cent fuel surcharge on third-party sellers. The US Postal Service on Wednesday said it is seeking to impose a temporary 8 per cent fuel surcharge for package and express mail deliveries to deal with rising transportation costs. If approved by the Postal

West Asia conflict: Another Indian LPG vessel crosses Strait of Hormuz

7 Indian-flagged ships have crossed the strait so far; number of stranded vessels down to 17 from 28 at start of war

US troops fighting for Jesus, says Hegseth; Pope Leo XIV disagrees

Throughout his first year as pontiff, Leo has been careful not to wade into US politics and has avoided direct confrontation with the White House

Trump vows strikes on Iran's infra after US pilot rescued in 'daring op'

But also says a deal with tehran could conclude on Monday

Market playbook under strain amid West Asia war; downside seen limited

The median fall across key global events since 2003-including the Lebanon War, the Russia-Ukraine conflict, and the Israel-Hamas war-stands at around 7 per cent

Dire straits: Prolonged war could alter the global security architecture

Escalating US-Iran conflict and oil disruptions threaten global stability, while shifting alliances signal a weakening of America's geopolitical influence

West Asia conflict threatens to push markets into bear market rhythm

Markets face risk of a prolonged bear phase as oil shocks and geopolitical tensions test inflation, growth, and investor confidence globally