Page 5 - West Asia

Iran says draft US deal includes oil sanctions waiver, nuclear limits

A draft Iran-US memorandum reportedly outlines sanctions relief, reopening of the Strait of Hormuz and negotiations on Tehran's nuclear programme

Indian national dies of medical complications aboard vessel off Oman coast

The Embassy of India in Muscat on Saturday condoled his death and is making arrangements for the repatriation of his mortal remains in India

Vessel with 14 Indian crew members involved in incident off Oman coast

Amid heightened tensions in the Gulf region, the Embassy of India in Muscat on Sunday said it has learnt of an incident involving a vessel with 14 Indian crew members off the coast of Oman. The Indian mission did not share any details about the nature of the incident. Search and Rescue is being coordinated with the Omani authorities and vessels in vicinity of the incident, it said in a post on X. "The Mission has learnt of an incident involving an Indian Flagged Mechanised Sailing Vessel Virat 1, off the coast of Oman, reportedly embarked with 14 Indian crew," the mission said. The Oman coast witnessed tensions last week as three vessels with Indian crew members came under US attack in the region. One of them killed three seafarers.

West Asia crisis has impacted fertilisers, pharma sectors, says Nadda

The Union Minister for Health and Family Welfare and Chemicals & Fertilisers, Jagat Prakash Nadda, said that the ongoing West Asia crisis has affected global supply chains linked to the fertiliser and pharmaceutical sectors, but assured that the Government of India has taken adequate measures to ensure that farmers and consumers do not face any hardship.Addressing mediapersons in Shimla, Nadda on Saturday said India had proactively diversified its sourcing strategy and strengthened supply arrangements to shield the country from disruptions arising out of geopolitical tensions in West Asia.Responding to a question from ANI regarding the impact of the crisis on the pharmaceutical and fertiliser industries, Nadda said the government had adopted a multi-pronged approach to safeguard supplies of medicines, medical devices and fertilisers."Despite the West Asia crisis, we have ensured that there will be no shortage of medicines, medical devices or fertilisers in India. Our farmers and

West Asia crisis: Equities surge most in two months as oil slips below $90

The rally was triggered by a sharp decline in crude prices after US President Donald Trump said a peace agreement could be signed as early as this weekend

Realtors brace for project delays as Iran war disrupts supply chains

Developers brace for up to year-long project delays as the prolonged West Asia conflict raises costs, disrupts supplies and worsens labour shortages

US-Iran peace memorandum could be signed on Sunday in Geneva: Source

A US-Iran memorandum to halt the Gulf conflict could be signed in Geneva on Sunday, though key terms remain under negotiation and Iran says no final decision has been made

Sensex rises 1,700 pts intra-day; Nifty above 23,600: Key reasons here

A Bloomberg report said that the US and Iran are edging closer to signing an agreement to reopen the Strait of Hormuz as the Group of Seven world leaders are set to meet next week.

Can crude oil prices dip to $70 if US, Iran sign peace deal? Analysts said this

As per Fitch Ratings' estimates, Brent crude oil is likely to average $100-110/bbl in May-July, before falling to $80/bbl in August, and to about $70/bbl from September.

Higher gas costs may keep city gas distribution margins under pressure

Rising LNG costs and supply uncertainties are squeezing CGD margins, even as strong CNG demand helps sustain volume growth across key markets

Three Indians missing after missile hit on commercial tanker off Oman

MEA says attacks on commercial shipping are a direct consequence of the ongoing regional conflict and calls for de-escalation and safe navigation

India Inc's new supply chain strategy: Replacing efficiency with resilience

Repeated shocks from Covid to conflict in West Asia are pushing Indian companies to diversify suppliers, localise sourcing and strengthen risk monitoring, even at the cost of higher expenses

Trump says Iran peace deal '2-3 days away' amid friction with Netanyahu

Donald Trump said negotiations with Iran were in their 'final throes', even as differences with Netanyahu surfaced over Israel's military actions in Lebanon

Epic stalemate: US-Israel war on Iran hasn't achieved any of its objectives

Key global market indices around the world have plummeted; India alone has lost trillions in investor wealth with a steadily weakening rupee

Why India is worried about gold imports & what it means for you | West Asia war | Foreign exchange

India has raised import tariffs on gold and silver to 15 per cent from 6 per cent, as part of efforts to curb overseas purchases of the metals

Centre has coal reserves for 80 days of power generation: Kishan Reddy

Union Minister G Kishan Reddy on Monday said that the Centre has adequate coal reserves to meet the requirements of power generation for 80 days. Speaking to reporters about the achievements of the NDA government since 2014, Reddy also said that exploration has begun in the critical mineral blocks acquired in Argentina, and production should commence as early as possible. "Earlier, there used to be a shortage of coal. Now, the Government of India has coal reserves sufficient for 80 days of power generation. Since the monsoon season has begun, coal production could face disruptions due to heavy rainfall," the union coal and mines minister told reporters here. "Following the directives of Prime Minister Narendra Modi, we have maintained coal reserves for 80 days," he added. Highlighting the importance of critical minerals, Reddy said that the Centre is identifying critical mineral reserves and undertaking exploration activities. He added that auctions have also begun in areas where