Page 49 - West Asia

Centre forms seven official panels to tackle impact of West Asia crisis

The first panel on defence, external affairs and public order is led by Foreign Secretary Vikram Misri, with Home Secretary Govind Mohan and Defence Secretary Rajesh Kumar Singh as members

Gold rebounds ₹1,200 to ₹1.44 lakh/10g in Delhi; silver stays flat

Gold prices snapped a four-day losing streak and climbed Rs 1,200 to Rs 1.44 lakh per 10 grams in the national capital on Tuesday, while silver remained flat at Rs 2.30 lakh per kilogram, according to the All India Sarafa Association. The precious metal of 99.9 per cent purity had closed at Rs 1,43,600 per 10 grams (inclusive of all taxes) on Monday. Traders attributed the rebound in domestic gold prices to a recovery in global commodity markets and some buying at lower levels after recent sharp declines. In the international markets, spot gold rebounded after nine sessions of losses, rising USD 16.96, or 0.38 per cent, to USD 4,423.83 per ounce, while silver was trading 1.03 per cent higher at USD 69.86 per ounce. "Spot gold, after falling for nine straight days, is trading steady at around USD 4,420 per ounce in the overseas trade on cautious optimism about the Iran war as the US President Donald Trump declared a five-day ceasefire on strikes against energy installations in Iran,

World Economic Forum postpones meet in Saudi Arabia amid West Asia conflict

The WEF said its decision "reflects a commitment to convening the meeting under conditions that ensure its full strategic impact," adding that it will provide a new date in due course

Bulls roar: Sensex zooms 1,750 pts, Nifty tops 23k intraday; key reasons

At the close, Sensex jumped 1,372.06 points or 1.89 per cent to settle at 74,068.45. Similarly, the Nifty 50 index ended 399.75 points or 1.78 per cent higher at 22,912

Sensex zooms 1,500 points on ceasefire hope: Should you sell the rally?

Analysts believe a lot now depends on what Trump does after the 5-day ceasefire and how crude oil prices, bond yields play out.

Nifty50 valuations ease amid oil surge, geopolitical jitters: JM Financial

Despite global headwinds, consumption trends held up, banking and household financial activity remained steady

FPI selling surpasses ₹1 trillion mark in March amid West Asia crisis

Backed by SIPs, domestic investors brought relief with ₹1.13 trn investment

PLNG valuations remain attractive, but near-term downtrend likely

Petronet LNG (PLNG) gets 8.5 mmtpa of LNG from Qatar (50 per cent of its volume) and PLNG has issued a press release in response to QatarEnergy's notice of force majeure

Will overcome West Asia crisis, like Covid, says PM Narendra Modi

PM Modi urged unity and preparedness in Lok Sabha, warning that the West Asia crisis could have prolonged economic and security implications for India

Manic Monday: Indices fall over 2.5%; de-escalation talks may lift mkts

Markets fell sharply on crude price concerns amid West Asia tensions, though hopes of de-escalation talks may support a rebound in equities and sentiment

Jaishankar speaks with Marco Rubio on West Asia conflict, energy concerns

The Jaishankar-Rubio phone conversation came hours after US President Donald Trump extended Washington's deadline for Iran to reopen the Strait of Hormuz by five days

Crackling logs push out the blue flame in India's elite club kitchens

The old fire is stoked again as firewood and electric fill the LPG gap, and menus shrink

West Asia crisis needs close monitoring and proactive steps: RBI

RBI report calls for close monitoring of West Asia conflict and proactive steps to limit spillovers, citing India's oil dependence and rising global volatility

Remittances to India unlikely to be hit, may touch a new high of $140 bn

Remittances to India are projected to reach up to $140 billion in FY26 despite West Asia tensions, supported by resilient inflows and precautionary transfers, SBI report says

War, emerging geopolitical faultlines: West Asia war jolts global economy

Iran's decision to shut off the Strait of Hormuz on March 1 was not merely an act of retaliation; it was a calculated demonstration of its enduring capacity to disrupt the global commons

West Asia crisis: Govt restores full Rodtep benefits to exporters

The government on Monday restored full benefits under the RoDTEP scheme to exporters amidst the ongoing West Asia crisis disrupting global trade. Last month, the government halved the rate of duty benefits under the Remission of Duties and Taxes on Exported Products (RoDTEP) Scheme. The exporting community expressed disappointment and had sought reconsideration of the decision. "The RoDTEP rates and value caps as specifiedas applicable on February 22, 2026, are hereby restored with effect from February 23, 2026 to March 31, 2026 for all eligible export products," the Directorate General of Foreign Trade (DGFT) said in a notification. The Remission of Duties and Taxes on Exported Products (RoDTEP) Scheme, launched in 2021, provides for a refund of taxes, duties and levies that are incurred by exporters in the process of manufacturing and distribution of goods, and not being reimbursed under any other mechanism at the Centre, state or local level. Refunds under the scheme range from

States must act against profiteering in retail coal market, says minister

Coal minister urges states to check retail profiteering amid rising prices during the West Asia crisis; Centre launches seventh tranche of critical mineral auctions

Oil prices plunge; two Indian LPG tankers cross Strait of Hormuz

Oil prices dropped sharply after Trump paused Iran strikes, while Indian LPG tankers crossed the Strait of Hormuz amid supply concerns and disruptions in West Asia

Domestic medtech lobby seeks govt support as key input costs rise 50%

Domestic medical device makers seek government support as input costs surge up to 50 per cent amid West Asia disruptions, flagging supply chain stress and rising logistics costs

Centre asks states to curb coal profiteering amid West Asia crisis

The Centre has directed states to prevent small coal retailers from profiteering from the West Asia crisis, as global energy disruptions threaten to ripple into domestic fuel markets. Talking with reporters on the sidelines of an event here, Coal and Mines Minister G Kishan Reddy said, "Our secretary (coal) has talked to Chief Secretaries of all states. I have written letters to Chief Ministers yesterday. There is no coal shortage and there is no scope for an increase in domestic coal prices". The minister further said that if coal prices increase, it is the responsibility of the state governments to take action. "We have asked states to keep an eye on coal prices and not let the retailers of coal profit from the ongoing crisis.. The Prime Minister has clearly instructed that coal prices should not increase, and therefore the government has taken proactive measures. "No decision has been taken on increasing coal prices. Coal prices should not increase," the minister explained. Th