Page 43 - West Asia

West Asia Crisis: How to manage your money wisely during economic uncertainty

The ongoing tensions in West Asia are increasing crude oil prices and putting pressure on supply chains and household expenses in India.

Oil rises as investors reassess West Asia ceasefire prospects

Oil jumps over 3% as Middle East tensions threaten supply, with Hormuz disruption and global outages intensifying fears of a prolonged energy crisis

India's GDP growth above 7% in FY27 despite global headwinds: Assocham

India's economy is expected to grow above 7% in FY27, supported by domestic demand and investment, even as geopolitical tensions and global slowdown risks persist

Pentagon considers redirecting Ukraine military aid to West Asia: Report

The weapons that could be redirected include air defense interceptor missiles purchased through a NATO initiative launched last year, under which partner countries buy US arms for Kyiv

LPG cylinders to be delivered as scheduled, no queues needed: UP CM

Uttar Pradesh Chief Minister Yogi Adityanath on Thursday assured people that there is no need to stand in queues for cooking gas cylinders, assuring them that LPG will continue to be delivered at homes according to the booking schedule. Addressing a gathering at the inauguration of a Software Technology Park in the Gorakhpur Industrial Development Authority (GIDA) area, Adityanath urged people not to rush to gas agencies or fuel stations unnecessarily. "Book your LPG cylinder as per requirement and it will be delivered to your doorstep in due course. There is no need to stand in line outside agencies," he said. He also advised people to purchase petrol and diesel only when required, cautioning that queues at filling stations are being driven by rumours. "Some people are trying to create panic and disturb normalcy by spreading misinformation. The public should not pay heed to such rumours," he said. Referring to consumption patterns, the chief minister questioned why households that

Israel media claims Iran Naval commander killed, no confirmation from Iran

Commander of the Islamic Revolutionary Guard Corps Navy, Alireza Tangsiri was responsible for the closure of the Strait of Hormuz

Tanker carrying Russian oil hit by drone in Black Sea near Turkey

The attack, just outside Turkish territorial waters, likely aimed to disable the engine room in the Sierra Leone-flagged vessel that was carrying Russian oil

Nayara Energy hikes petrol price by ₹5 per litre, diesel by ₹3 amid war

Nayara Energy, India's largest private fuel retailer, on Thursday raised petrol prices by Rs 5 per litre and diesel by Rs 3 a litre, passing on part of the recent surge in global oil prices following the war in the Middle East, sources said. Fuel marketing companies in India have been under strain as retail petrol and diesel prices remained frozen despite a nearly 50 per cent surge in international oil prices since February 28, when the United States and Israel launched military strikes against Iran, triggering sweeping retaliation from Tehran. Nayara Energy, which operates 6,967 of India's 102,075 petrol pumps, has decided to pass on part of the increase in input costs to consumers, two sources with direct knowledge of the matter said. A company spokesperson did not immediately offer any comment on the story. Jio-bp, the fuel retailing joint venture of Reliance Industries and BP Plc that owns 2,185 outlets, has, however, so far not raised prices despite incurring heavy losses on s

Payments up to ₹25,000 crore pending: Basmati exporters amid Iran war

The ongoing conflict in West Asia has severely disrupted India's premium basmati rice exports, causing significant losses to traders and threatening the livelihoods of farmers.According to a Bhopal-based businessman, consignments of Premium 1121 Basmati rice are currently stuck at ports, with payments worth Rs 2,000 crore to Rs 25,000 crore pending.A businessman from Bhopal speaking to ANI said, "...The Premium 1121 Basmati rice, which we used to export, is currently being held at the ports. If this situation continues, Indian traders will face significant losses. Our payments, ranging from Rs 2,000 crores to Rs 25,000 crores, are pending and have not been received, causing difficulties for the traders. The government is currently taking its own measures, and if the situation persists, farmers will also face problems in the future...."On Wednesday, an all-party meeting, convened by the government on the West Asia crisis, was held. The meeting was chaired by Defence Minister Rajnath ...

SE Asia revisits nuclear power plans for AI data centres amid Iran war

Nuclear power is getting a second look in Southeast Asia as countries prepare to meet surging energy demand as they vie for artificial intelligence-focused data centres. Several Southeast Asian nations are reviving mothballed nuclear plans and setting ambitious targets and nearly half of the region could, if they pursue those goals, have nuclear energy in the 2030s. Even countries without current plans have signaled their interest. Southeast Asia has never produced a single watt of nuclear energy, despite long-held atomic ambitions. But that may soon change as pressure mounts to reduce emissions that contribute to climate change, while meeting growing power needs. The Iran war is underscoring the vulnerability of Asia's energy supplies, raising the sense of urgency about finding alternatives to oil and gas in Southeast Asia, analysts say. The surge in crude oil prices caused by the escalating conflict has raised the motivation for countries to speed up their nuclear efforts, said .

Freight surge, LPG shortage amid Iran war hit exports from east India

The West Asia crisis has pushed freight costs for Europe-bound cargo up by 60-80 per cent, with exports falling by as much as 50 per cent for some exporters while hundreds of containers got stranded at Kolkata port, industry representatives said on Thursday. Calcutta Customs House Agents Association (CCHAA) president Mannu Choudhary told PTI that freight charges have risen by over 40 per cent due to rerouting through the African route, while war surcharges imposed by shipping lines have taken the total cost escalation to 70-80 per cent for shipments to Europe and the US. Exporters also complained of a shortage of containers. "Shipping lines are denying freight details to exporters, who are now waiting. No fresh containers are being accepted by shipping lines," he said. Choudhary said around 600 containers that had entered Kolkata port for loading were being returned to the city following last-minute cargo cancellations. Of these, around 400 have already been taken back, while the

Asian stocks fall, oil climbs over Iran war de-escalation uncertainties

Asian stocks were mostly lower and oil prices gained on Thursday as a de-escalation of the Iran war remained uncertain. US futures were down 0.1 per cent. Tokyo's Nikkei 225 was trading 0.3 per cent lower at 53,607.75. South Korea's Kospi lost 1.9 per cent to 5,537.30. Hong Kong's Hang Seng fell 1.4 per cent to 24,978.71, while the Shanghai Composite index was down 0.6 per cent to 3,909.16. Australia's S&P/ASX 200 edged down 0.2 per cent, while Taiwan's Taiex was trading 0.4 per cent higher. Oil prices were up again on Thursday after an earlier dip. Brent crude, the international standard, rose 1.3 per cent to USD 98.51 per barrel. It was below USD 95 on Wednesday. Benchmark US crude was 1.6 per cent higher at USD 91.75 a barrel. The rise in oil prices came as Tehran on Wednesday dismissed a ceasefire plan by the US, after the administration of US President Donald Trump offered a 15-point proposal to Iran and Trump this week delayed a self-imposed deadline to "obliterate" its ...

Iran working on draft law to introduce tolls for passage via Hormuz

The narrow waterway has been all but closed since US and Israeli strikes on Iran began almost a month ago, and has become a focal point of the war

USS Abraham Lincoln continues ops against Iranian targets: US Centcom

Iranian Navy issued another direct warning to the United States, stating that its aircraft carrier, the USS Abraham Lincoln, is being closely monitored and faces potential strikes

Indian Oil buys first Iranian LPG since 2018 as crunch worsens amid war

The refiner will share the shipment with its state-owned peers Bharat Petroleum Corp Ltd and Hindustan Petroleum Corp Ltd

Oil prices climb as investors reassess West Asia ceasefire prospects

Brent futures rose $1.13, or 1.1 per cent, to $103.35 a barrel by 0051 ‌GMT, while US West Texas Intermediate crude futures were up $1.08, or 1.2 per cent, at $91.40 a barrel

US hits 10k targets in Iran war, including two-thirds of munition plants

US forces have hit more than 10,000 targets so far in the Iran war, the head of the American military's Central Command said. US Navy Adm. Brad Cooper made the comments in a video released early Thursday by Central Command. "If you combine what we've accomplished with the success of our Israeli ally, together, we have struck thousands more," Cooper said. "Our precision strikes have overwhelmed Iranian air defences and our combat flights are having tangible effects." Cooper added that the US has destroyed 92 per cent of "the Iranian navy's largest vessels." "They've now lost the ability to meaningly project naval power and influence around the region and around the world," Cooper said. Iran maintains its chokehold on the Strait of Hormuz, the narrow mouth of the Persian Gulf, through drone and missile attacks on shipping, however. Cooper also said the US has struck over two-thirds of Iran's munitions plants. "Today, we have damaged or destroyed over two-thirds of Iran's missile,

US circulates 15-point peace plan while sending troops to West Asia

The 2,000 paratroopers heading to the region may give President Trump more leverage in negotiations, but they also leave him with the option of doubling down on military force

Gulf airspace closures leave travellers stranded and bleeding cash

Some people booked on Gulf carriers have described hours on hold to reach customer service, repeated cancellations with little explanation and automatic refunds without rebooking options