Page 54 - West Asia

Datanomics: How the West Asia conflict risks inflating India's oil bill

A major proportion of India's crude oil imports flows through the Strait of Hormuz, which remains an important trade point in the Gulf

Tea exporters brace for disruption as West Asia conflict hits shipments

Indian tea exporters face rising uncertainty as the West Asia conflict disrupts payments, shipping and freight costs, threatening flows to key Gulf markets that account for over 40% of total exports

Tea exporters brace for disruption as West Asia conflict hits shipments

Indian tea exporters face rising uncertainty as the West Asia conflict disrupts payments, shipping and freight costs, threatening flows to key Gulf markets that account for over 40% of total exports

QatarEnergy to stop LNG output temporarily as West Asia crisis intensifies

QatarEnergy said on Monday it would stop its production of liquified natural gas as the Mideast war rages, taking one of the world's top suppliers off the market. The state-owned firm blamed the war for the decision. It offered no timeline for restoring its production. Oil prices have already risen over the war.

Fintech Pine Labs to launch stablecoin payments outside India, says CEO

Pine Labs does not plan to launch the product in India or China, Rau said

West Asia crisis: Apparel exporters urge govt to waive cargo penalties

Apparel exporters' body AEPC on Monday said it has written to the civil aviation ministry seeking waiver of demurrage charges on export cargo on account of flight disruptions emanating from the ongoing West Asia crisis. Under the existing tariff structure of Cargo Terminal Operators (CTOs), demurrage charges become applicable when cargo remains in terminal facilities beyond the stipulated free period. However, AEPC argued that the present circumstances constitute an exceptional and unavoidable disruption in the global air logistics chain. "Imposition of demurrage in such cases would place an undue financial burden on exporters who are already facing shipment delays, contractual uncertainties, and market-related challenges," Apparel Export Promotion Council (AEPC) Chairman A Sakthivel stated. Sakthivel also suggested that DGCA consider issuing suitable instruction to CTOs to grant waiver of demurrage charges on export consignments that could not be lifted due to flight disruptions,

West Asia conflict: From oil to remittances, how exposed India is to crisis

Iran-Israel conflict: Rising tensions in West Asia put India's oil supplies, trade routes and millions of workers in Gulf nations at risk, raising concerns over remittance flows and safety

IAEA sees no strike on Iran's nuclear sites even as Tehran alleges one

Iran's nuclear programme has been among the reasons Israel and the US have given for the attacks, alleging Iran was getting too close to being able to eventually make an atom bomb

Nasscom asks IT firms to avoid travelling to West Asia, allow WFH

IT industry body Nasscom has advised its member companies to avoid travel to affected parts of the Middle East and urged them to enable work-from-home (WFH) protocols for employees currently stationed in the region amid escalating tensions. In a statement, the National Association of Software and Service Companies (Nasscom) said it is closely monitoring the developments and that employee safety remains the industry's "foremost priority." "As a precautionary measure, Nasscom has advised member companies to defer travel to affected areas. Member companies have also been advised to enable work-from-home arrangements for employees currently in the region," the industry body said. The current situation in the Middle East is marked by a sharp escalation in geopolitical tensions amid the escalating US-Iran conflict. Nasscom noted that while operations across the IT industry are continuing "as usual" at this stage, companies remain vigilant and prepared to take additional measures if the .

Exporters seek demurrage waiver as West Asia disruptions delay cargo

Apparel exporters on Monday urged the government to waive demurrage charges on export cargo at airports, as flight disruptions arising from ongoing West Asian crisis may impact movement of consignments. In a communication to the civil aviation ministry, Apparel Export Promotion Council (AEPC) said the prevailing situation has significantly disrupted international flight operations, resulting in route restrictions, airspace closures, flight diversions, schedule irregularities, and operational constraints at certain overseas airports. Airport demurrage charges are fees on cargo or baggage at an airport terminal being kept beyond the allowed free period. These charges encourage swift clearance. It varies by airport, cargo type and duration. These unforeseen developments have directly impacted the timely movement of export cargo from Indian airports to various international destinations,AEPC Chairman A Sakthivel said. As a consequence, he said export consignments are currently strande

Centre prepared to bring back Indians stranded in West Asia: Pralhad Joshi

The Centre is fully prepared to bring back Indians stranded in the Gulf region and is in touch with Indian missions abroad to ensure their safety, Union Minister Pralhad Joshi said on Monday. In a statement, Joshi said discussions have been held with senior officials of the concerned embassies to facilitate the safe return of those affected by the war situation. "Whenever Kannadigas and other Indians face distress anywhere in the world, the Central Government has ensured their safe return. Earlier, we brought back those stranded in Ukraine. Wherever Indians are, their safety remains our first priority," he said. Joshi said information has been received about Kannadigas facing hardship due to the severity of the IranIsrael conflict, and urgent consultations have been held with senior ministers to take necessary measures for their protection. Reassuring anxious families, the Minister said there was no need to panic and that the government is committed to bringing back all Indians ...

'Will not negotiate with US': Iran's security chief as conflict escalates

Iran's Supreme National Security Council chief Ali Larijani said Tehran will not negotiate with the US, hours after Donald Trump said Iran's new leadership wants to negotiate

Strait of Hormuz must not be shut down: Indian-American maritime executive

Amid escalating tensions in West Asia in the wake of US-Israel strikes against Iran, a leading Indian-American maritime executive has voiced concern over the impact on the crucial oil artery of the Strait of Hormuz and implications for global oil prices. "Shipping is the hardest-hit industry in any such turbulence in the geopolitical situation," Chairman of maritime company Safesea Group Dr S.V. Anchan told PTI. "The Strait of Hormuz must not be allowed to be shut down," Anchan said, calling for urgent action to ensure safe passage of vessels in the area. Anchan said oil prices are expected to rise on Monday in the wake of the geopolitical developments in the region, but added that prolonged high oil prices will be bad for the economy. "It's in no one's interest globally, including the US," he said, adding that "blocking the Hormuz is no less than choking the people at large of the region, at a time when even the airspaces are also closed." There are estimates that already 150 tan

Oil prices surge 9%, gold jumps as Iran conflict shakes global markets

President Donald Trump suggested to the Daily Mail the conflict could last for four more weeks, while posting that attacks would continue until US objectives were met

New Iran leaders want to talk and I have agreed, says Donald Trump

Asked whether his conversation with the Iranians would happen today or tomorrow, Trump responded, "I can't tell you that"

West Asia crisis: Govt to meet exporters, shipping firms on Monday

With tensions escalating in West Asia, the government is assessing possible disruptions to shipping routes and logistics as exporters warn of rising costs and wider trade risks

Govt monitors West Asia conflict; airspace closure clouds evacuation plans

Prime Minister Narendra Modi will chair a meeting of the Cabinet Committee of Security in Delhi on Sunday night, government sources said. The meeting is believed to have been convened in the wake of the prevailing global situation following the attack on Iran by the United States and Israel and the killing of Iranian Supreme Leader Ayatollah Ali Khamenei. "The prime minister will chair a meeting of the CCS on returning to Delhi tonight from his two-day tour of the states. He is expected to land here at around 9.30 pm," a source said. Modi had visited Rajasthan, Gujarat, Tamil Nadu and Puducherry during the two-day tour. The CCS is the highest decision-making body on security and strategic matters of the country. The prime minister heads the CCS while Defence Minister Rajnath Singh, Home Minister Amit Shah, External Affairs Minister S Jaishankar and Finance Minister Nirmala Sitharaman are its members. Iranian Supreme Leader Khamenei was killed in a major attack on Iran launched by

India sees 350 flight cancellations as West Asia conflict disrupts routes

Indian carriers cancelled 350 flights on Sunday after airspace restrictions across West Asia, with Europe-bound routes hit hardest and airlines issuing waivers, rerouting or suspending services

10 people killed as protests at US missions rock cities across Pakistan

At least 10 people were killed on Sunday after violent clashes and arson took place in different cities of Pakistan protesting the killing of Shiite supreme leader Ayatollah Ali Khamenei. All 10 people were killed in firing in Karachi when protesters tried to storm the US Consulate in the port city. Iran's Supreme Leader Khamenei was killed on Saturday in a coordinated US-Israeli airstrike on Tehran with his death confirmed on Sunday, prompting an outburst of anger by Pakistan's Shiites, who are about 20 per cent of the 240 million population. The US Embassy in Islamabad said it is monitoring reports of ongoing demonstrations at the US Consulate General in Karachi and Lahore even as Pakistan's Interior Minister Mohsin Naqvi requested the citizens not to take the law into their hands and "record their protest peacefully." Violent clashes occurred in the coastal city of Karachi in Sindh province where angry proctors tried to attack the US Consulate building on Mai Kolachi Road and ..

Ships avoid Hormuz as Iran raises threats and conflict in West Asia spreads

The Strait of Hormuz is a crucial chokepoint for energy markets because a fifth of the world's seaborne oil and liquefied natural gas typically passes through each day