Page 47 - West Asia

West Asia crisis, crude prices likely to steer stock markets this week

Developments related to the ongoing conflict in West Asia and its impact on crude oil prices would be the major driving factors for stock markets this week, analysts said. Besides, global market trends and trading activity of foreign investors would also drive investors' sentiment. "This week, movements in global crude oil prices and further geopolitical developments in West Asia will remain critical external variables influencing market direction. The week will also feature key macroeconomic releases that could shape near-term sentiment. "On the domestic front, investors will closely monitor the Consumer Price Index (CPI) inflation data scheduled for March 12," Ajit Mishra SVP, Research, Religare Broking Ltd, said. Brent crude, the global oil benchmark, jumped 8.52 per cent to USD 92.69 per barrel. "The week ahead is likely to remain volatile, with market sentiment largely shaped by persistent geopolitical tensions in the Middle East. Investors will closely track global ...

'Sufficient fertilisers now, problems may arise if West Asia war prolongs'

India currently has sufficient availability of fertilisers, but prolonged conflict in West Asia could pose problems, said a top official of Fertilisers and Chemicals Travancore Limited (FACT), the largest supplier to South Indian states. FACT, a public sector company, relies on raw materials such as rock phosphate and phosphoric acid exported from several countries in West Asia and the Middle East, and they are brought via the sea route. The prolonged conflict could cause significant damage to the global economy, according to analysts. Currently, there is no harvest season in India; it will begin after July, the Kochi-headquartered FACT's Managing Director S Sakthimani told PTI, when asked about the potential impact of the current global situation on fertiliser production in the country. "We have sufficient urea available. We hope that things (the war situation) will probably be resolved within a month. We have sufficient urea available for our Kharif season. We will not have any .

Iran war: How ships are avoiding being targeted in Strait of Hormuz

As attacks intensify around the Strait of Hormuz, several commercial ships are altering transponder signals to claim Chinese ownership or crew in an apparent attempt to avoid being targeted

Trump says he'll hit Iran harder as Iranian Prez apologises to neighbours

US President Donald Trump warned in a Truth Social post that more Iranian officials will be targets, saying, "Today Iran will be hit very hard!," while noting an apology by Iranian President Masoud Pezeshkian earlier in the day to neighbouring nations over Tehran's attacks. Gulf countries say they have intercepted more ballistic missiles and drones launched from Iran. Here is the latest: Israel says it targeted Iranian-linked commanders in Beirut ------------------------------------------------------------------ The Israeli military said in a statement Sunday morning that it targeted commanders of the Lebanese branch of Iran's Revolutionary Guards' Quds Force. Early Sunday, an Israeli drone struck a room in a hotel in Beirut's Raouche district, a major seaside tourist area, killing four people and wounding 10 others, according to Lebanon's health ministry. The military added that it "will not allow Iranian terrorist elements to establish themselves in Lebanese territory and will

White House halts federal security bulletin warning of Iran-related threats

The bulletin from the FBI, Department of Homeland Security, and National Counterterrorism Centre is meant for state and local law enforcement agencies

West Asia crisis: 52,000 Indians returned after partial opening of airspace

India on Saturday said it is continuously monitoring the evolving situation in West Asia, especially in the context of the safety of its citizens stranded in the region. In a late night statement, the Ministry of External Affairs (MEA) said more than 52,000 Indians have returned to the country following the partial opening of the airspace across the region. It also urged all Indian nationals in the region to follow the guidelines of the local authorities and the advisories issued by the Indian missions. The safety and welfare of Indian nationals abroad is of utmost priority to the government and it remains engaged with the governments across the region to work towards facilitating all those in need of assistance, the MEA said. The security situation in West Asia remains precarious as the US and Israel continue their bombardment of Iranian targets while Tehran retaliates with strikes against Israeli positions and US military bases across the region. "The government of India is ...

Middle East conflict: 100 flights cancelled at Delhi, Mumbai airports

At least 100 international flights were cancelled at the Delhi and Mumbai airports on Saturday as the Middle East crisis continued to impact flight operations. As many as 35 departures and 36 arrivals were cancelled at the Mumbai airport while 22 departures and 17 arrivals were cancelled at the Delhi airport, according to officials. Delhi airport operator DIAL, in a post on X, said due to the current situation in the Middle East, some west-bound international flights may experience delays or schedule changes. The conflict involving the US, Israel, and Iran that started on February 28 has significantly impacted flight operations as some of the airspaces in the Middle East are closed. Many airlines are only operating a limited number of services.

Oil and gas prices rapidly rise as Iran war shows no signs of letting up

The price of oil surged higher and showed no signs of halting its rapid climb a week after the US and Israel launched major attacks on Iran that escalated into a war in the Middle East. The conflict, in which nearly every country in the Middle East has sustained damage from missiles or drone strikes, has left ships that carry roughly 20 million barrels of oil a day stranded in the Persian Gulf, unable to safely pass through the Strait of Hormuz, the narrow mouth of the Gulf that is bordered on its north side by Iran. The disruption and damage to key oil and gas facilities in the Middle East has led to an interruption in the supply of oil and gas. Oil prices surpassed $90 a barrel Friday, with American crude settling at $90.90, up 36% from a week ago, and Brent, the international standard, climbing 27% over the course of the week to land at $92.69. The fallout is ratcheting up what consumers and business will pay for gasoline, diesel and jet fuel, with some drivers already feeling i

CBSE postpones Class 12 board exams in West Asia amid Iran-Israel war

The Central Board of Secondary Education (CBSE) on Saturday postponed the Class 12 board exams scheduled on March 9, 10 and 11 in the Middle East region amid the Iran-Israel conflict, officials said. "Due to the current situation in parts of the Middle East--Bahrain, Iran, Kuwait, Oman, Qatar, Saudi Arabia and UAE, the board has decided to postpone 12 exams on March 9, 10 and 11," said CBSE Examination Controller Sanyam Bhardwaj. The new dates will be announced later, and for further exams, the situation will be reviewed on March 10, Bhardwaj added. Previously, the board had postponed the exam scheduled on March 2, March 5 and March 7 in the region. The board has cancelled Class 10 exams till March 11 and said mode of declaration of results will be announced separately. The US and Israel launched military strikes on Iran on February 28, killing Iranian Supreme Leader Ayatollah Ali Khamenei. Following the military offensive, Iran has carried out a wave of attacks mainly targeting

West Asia conflict puts $11.8 bn of India's agri exports at risk: GTRI

India's agri and food products exports worth USD 11.8 billion to West Asia are at risk as the conflict in the region is disrupting shipping routes, raising insurance costs and creating uncertainty in logistics, think tank GTRI said on Saturday. In 2025, India exported about USD 11.8 billion of agricultural and food products such as cereals, fruits, vegetables, dairy products, and spices to West Asia, accounting for 21.8 per cent of India's total exports in this sector. "The Gulf region's geographic proximity and large expatriate Indian population have historically made it a natural market for India's food exports. "However, the conflict in the region is disrupting shipping routes, raising insurance costs and creating uncertainty in logistics," the Global Trade Research Initiative (GTRI) said. India exported USD 7.48 billion of cereals, fruits, vegetables and spices to West Asia in 2025, with the region accounting for 29.2 per cent of India's global exports in this category. Key ..

West Asia crisis: Govt asks ports to consider waiving charges, issues SoP

Union Shipping, Ports and Waterways Ministry has proposed that ports may consider requests regarding reduction, waiver or remission of charges, including change of vessel charge, and also rolled out a standard operating procedure (SoP) for them to deal with issues arising from the West Asia crisis. As part of the SoP that followed extensive consultations with all stakeholders on Friday, each port will appoint a nodal officer at the level of head of department or deputy head of department, who will be the single point of contact for addressing the issues coming up for consideration at ports. The nodal officer will be responsible for taking up the matter with the competent authority and ensure that the action is taken within 24-72 hours. Also, as per the SoP, port chairpersons should have periodical meetings with stakeholders such as shipping lines, exporters, terminal operators, customs, among others to closely monitor the situation and ascertain and address legitimate concerns. The

Govt grants exporters relief on export obligations amid West Asia crisis

The government has granted certain relaxations to exporters in fulfilling their export obligations, as the trading community is facing difficulties in the movement of goods due to the ongoing West Asia crisis, according to a notification. "In view of the prevailing geo-political developments affecting international shipping routes and global supply chains, and with a view to facilitating exporters, the export obligation (EO) period/block wise EO period in respect of specified advance authorisations and EPCG authorisations expiring between March 1, 2026 and May 31, 2026 has been automatically extended up to August 31, 2026 without payment of composition fee," the Directorate General of Foreign Trade (DGFT) has said in a public notice. Under Export Promotion Capital Goods (EPCG) scheme, domestic firms are allowed to import duty-free machines but they have to meet certain export obligations against that. This relaxation is in addition to the existing facility already available under ..

Shipper MSC to impose emergency fuel surcharge on cargo from March 16

It said the surcharge would be $30 per twenty-foot equivalent unit (TEU) from the Mediterranean and Black Sea to the Red Sea for dry containers, and $50 per TEU for refrigerated containers

West Asia war: Better placed than 1991, but impact may be longer, say govt

A prolonged conflict in the region can be detrimental to the economy, placing pressure on inflation, exchange rate, trade and capital flows, the balance of payments, and the current account deficit

Farmers' earnings may come under pressure if West Asia exports stay stuck

Centre says India is sitting on 36.5 per cent more fertiliser stocks as on March 6, compared to last year; farmers fully insulated from global shocks

Energy shocks from West Asia will have knock-on effects on India's economy

The Strait of Hormuz is currently closed to shipping, choking off 20 per cent of global oil and gas supply

ADB flags India's oil vulnerability amid rising West Asia tensions

ADB says India's crude oil reserves of about 100 million barrels-enough for 40-45 days-leave the country exposed to potential supply disruptions through the Strait of Hormuz

The world must ensure Iran retains a functioning post-war state machinery

On February 28, the United States and Israel launched a large-scale and unprovoked air and missile attack against Iran, killing Ayatollah Khamenei, Iran's supreme leader

Will formalise ways to give comfort to Indian exporters, says Piyush Goyal

Piyush Goyal says the government is formalising steps to support exporters facing disruptions from the West Asia crisis, with an inter-ministerial group tracking risks and logistics challenges

All Indian ships in West Asia safe, says government amid rising tensions

Government says all 35 Indian-flagged vessels in the Persian Gulf region remain safe as enhanced monitoring continues; port operations stable despite cargo pile-up concerns