Page 5 - West Asia

Capacit'e eyes Middle East market after Maldives foray, cites growth

Data centres and hospitals are key growth drivers for EPC firm Capacit'e Infraprojects as it enters global markets after its first international project in Maldives

West Asian stocks plunge as US tariff hikes, oil slump spark turmoil

Saudi Aramco - the world's biggest oil exporter - was one of the biggest losers in the region. The company at one point erased more than $90 billion from its market capitalization

US strikes Yemen airport, deploys second Navy carrier group to West Asia

US forces bombed the districts of Sahar and Kitaf in the northern province of Saada and carried out five air attacks on the central province of Marib

Hegseth increases US warship presence in West Asia with 2 aircraft carriers

Defence Secretary Pete Hegseth, in a rare move, is beefing up the Navy warship presence in the Middle East, ordering two aircraft carriers to be there next month as the US increases strikes on the Yemen-based Houthi rebels, according to a US official. It will be the second time in six months that the US has kept two carrier strike groups in that region, with generally only one there. Prior to that it had been years since the US had committed that much warship power to the Middle East. According to the official, Hegseth signed orders on Thursday to keep the USS Harry S Truman in the Middle East for at least an additional month. The official spoke on the condition of anonymity to discuss ongoing military operations. The ship has been conducting operations in the Red Sea against the Houthis and was scheduled to begin heading home to Norfolk, Virginia, at the end of March. And Hegseth has ordered the USS Carl Vinson, which has been operating in the Pacific, to begin steaming toward the

Oil prices hold near 2-week high amid West Asia risks, China stimulus

Oil prices have gained support from Trump's vow to continue the US assault on Yemen's Houthis unless they end their attacks on ships in the Red Sea

Who are Syria's Alawites? The sect facing violence after Assad's fall

Alawites, a Shia sect, ruled Syria for decades under the Assads. Now, after Bashar al-Assad's fall, they face violence as sectarian tensions escalate in the war-torn country

Ready to negotiate next phase of ceasefire in Gaza strip, says Hamas

Hamas said Thursday it was ready to negotiate the next phase of the ceasefire in the Gaza Strip, after a swap in which it handed over what it said were the remains of four hostages in exchange for the release of more than 600 Palestinian prisoners held by Israel. It was the final such exchange the two sides agreed to as part of a truce that's set to end this weekend. Negotiations over a second phase, in which Hamas would release dozens of remaining hostages in exchange for more prisoners and a lasting ceasefire, have not yet begun. Hamas said in a statement that the only way for Israel to secure the release of the remaining hostages was through negotiations and adhering to the agreement. It warned that any attempt to pull back from the truce will only lead to more suffering for the captives and their families. Hamas confirmed that over 600 prisoners had been released overnight. Most were detainees returned to Gaza, where they had been rounded up after the October 7, 2023 attack that

China calls for post-war governance in Gaza, holds talks with Egypt, Saudi

China's diplomatic push comes as it seeks to expand its influence in West Asia, particularly following widespread regional rejection of Trump's displacement plan for Gaza

Safe haven: With economic weaknesses, gold prices are likely to go up

The global economy is weak and supply-chain issues that started with the pandemic have been exacerbated by the Ukraine war and turmoil in West Asia. As a result, there's been inflation

Significant Indian names join DIFC in 2024 as centre marks its 20th year

As the Dubai International Financial Centre (DIFC) continues to bolster Dubai's position in the Middle East, Africa and South Asia (MEASA) region's financial services capital during its 20th year, a significant list of Indian names has been joining the bandwagon. Significant Indian company names added this year include ASK Asset & Wealth Management Group (Wealth Management), AI/tech unicorn, Nagarro. According to a statement released here on Tuesday, Middle East & Asian countries contributed the highest (51 per cent) for DIFC's growth in 2024. Indian companies under financial services include Bharat Re Global Ltd, El Dorado Capital Ltd, Beacon Insurance Brokers, Fort Capital, Mahindra Insurance Brokers, and Nuvama Wealth and Investment Ltd. DIFC houses 6,920 companies, up from 5,523 in 2023, registering a 25 per cent increase. DIFC attracted 1,823 new registrations, the highest-ever number recorded in a year, showcasing historic growth of 25 per cent. Combined revenues for ...

Jordan agrees to take in Palestinian children after Trump's US aid threat

Donald Trump has praised the Jordanian leader's commitment to accepting sick Palestinian children, calling it a 'beautiful' act

Welfare scheme benefits causing labour shortages in construction: L&T MD

Addressing the CII Mystic South Global Linkages Summit, L&T's MD noted that despite the crucial role of construction in national development, the industry is struggling due to a lack of workforce

Best of BS Opinion: How India's renewable energy success turned sour

Today's pieces cover diverse topics: our editorials examine how India's renewable energy sector is now a victim of its own success, and ponder the government's inexplicable pause on privatisation.

Israeli defence min tells army to set plans for Palestinians to leave Gaza

Israel's defence minister says he has instructed the army to prepare plans for large numbers of Palestinians to leave the Gaza Strip in line with President Donald Trump's proposal for the war-ravaged territory. Defence Minister Israel Katz on Thursday said the plan will include options for exit at land crossings as well as special arrangements for exit by sea and air. He said he welcomed Trump's bold plan, which could allow a large population in Gaza to leave for various places in the world. He did not say whether Palestinians would be able to one day return to Gaza, which has been rendered largely uninhabitable by Israel's 15-month military campaign against Hamas. Trump on Wednesday proposed that most of Gaza's population be permanently resettled elsewhere while the United States rebuilds the territory. US officials later said the relocation would only be temporary, but Palestinians fear Israel would never allow them to return, deepening and perpetuating a refugee crisis dating b

India helping leverage sales potential in Asean, West Asia: Skoda CEO

India is the most important market globally for Skoda after Europe and the region is helping the automaker to enhance its presence in regional markets like ASEAN and the Middle East, Skoda Auto CEO Klaus Zellmer said on Thursday. Skoda Auto entered the Indian market in January 2000 with the company laying the foundation stone for its plant in Chhatrapati Sambhajinagar (formerly Aurangabad). "We have built on 25 years of experience in India to make this thriving market the cornerstone of our international growth strategy," Zellmer said in a statement. With its tremendous talent pool, growing consumer demand, and access to other markets, India is becoming the Czech carmaker's second pillar outside Europe and helping leverage further sales potential in ASEAN, the Middle East, and the Indo-Pacific region, he added. On behalf of the Volkswagen Group, Skoda Auto has been spearheading all activities in India since 2018. "As the company celebrates 25 years in the country, the Group's focu

West Asia a region crucial to India's strategic interests: EAM Jaishankar

External Affairs Minister S. Jaishankar on Tuesday highlighted the significant expansion of India-Middle East engagement in the past decade, driven by strong trade, connectivity, and people-to-people linkages, saying India sees the Middle East as a crucial passage to the world beyond. Addressing the inaugural session of Raisina Middle East here, Jaishankar said the Middle East region, which India calls West Asia, is crucial to India's strategic interests. The country's trade in the Gulf region amounts to about USD 160 to USD 180 billion. "Our presence in the Gulf is both pervasive and crucial. More than 9 million Indians live and work here, but the Gulf also serves as a gateway to the MENA region and the Mediterranean," Jaishankar said. "Our annual trade with the Mediterranean, incidentally, is another USD 80 billion, and the Indian diaspora there is close to half a million," the minister said, adding that India's projects in the region include airports, ports, railways, phosphates,

West Asian Energy again? Geostrategic shifts, reconstruction reshape region

Following the sabotage of the Nord Stream pipelines and suspension of supplies via the Yamal pipeline through Poland, Russia has to compete for access to European markets mainly through LNG exports

India, US, West Asia to add 100 GW solar capacity in 2025: Wood Mac report

India, the US and Middle East are together expected to add 100 GW of solar capacity in 2025, while China will remain a dominant player in the sector, Wood Mackenzie has said. According to its latest research, the module prices will also increase this year, after two years of low solar panel prices due to global overcapacity. This will compensate for the significant losses in profits that manufacturers experienced, it said. "Emerging hubs in India, the US and the Middle East are expected to add at least 100 GW to the global solar manufacturing capacity," Wood Mackenzie said. China will remain the dominant manufacturing hub. China will continue to be the world's solar manufacturing centre with 75 per cent (1.2 TW (terawatts) of the global operational capacity for major module components, the report said. Wood Mackenzie said that coordination by Chinese manufacturers, supported by the Chinese government, will be the key to bringing about rationalisation of the industry. In 2025, adv

Donald Trump will again designate Houthis as terrorists, reversing Biden

The assaults disrupted maritime commerce in the West Asia and continued despite repeated strikes on Houthi targets by the US and UK

Palestinians trek across rubble to return home as Gaza ceasefire takes hold

Even before the ceasefire deal between Israel and Hamas was fully in place Sunday, Palestinians in the war-battered Gaza Strip began to return to the remains of the homes they had evacuated during the 15-month war. Majida Abu Jarad made quick work of packing the contents of her family's tent in the sprawling tent city of Muwasi, just north of the strip's southern border with Egypt. At the start of the war, they were forced to flee their house in Gaza's northern town of Beit Hanoun, where they used to gather around the kitchen table or on the roof on summer evenings amid the scent of roses and jasmine. The house from those fond memories is gone, and for the past year, Abu Jarad, her husband and their six daughters have trekked the length of the Gaza Strip, following one evacuation order after another by the Israeli military. Seven times they fled, she said, and each time, their lives became more unrecognisable to them as they crowded with strangers to sleep in a school classroom, ..