Page 6 - West Asia

Govt asks Rera to extend timelines of realty projects by 4 months

The ministry cited force majeure conditions arising from the West Asia war and advised state regulators to extend registration and completion timelines for eligible projects

Centre exhausted 18% of fiscal deficit in Q1FY27, shows CGA data

Fiscal deficit stood at 18.2 per cent of the FY27 target as higher subsidy spending was offset by robust revenue growth and sustained capital expenditure

PwC reports riddled with AI-generated errors, fake citations: Probe

PwC is the third Big Four firm to face such scrutiny this year after EY and KPMG came under similar allegations over AI-generated errors in research reports.

L&T signs six-year EPC framework agreement with Oman's leading gas producer

L&T Energy Hydrocarbon Onshore has been selected as one of four EPC contractors for Petroleum Development Oman's upcoming FEED and EPC projects.

16 Indians killed in West Asia conflict this year, govt tells Parliament

Since the outbreak of the conflict in the Middle East this year, 16 Indian nationals, including 10 seafarers, have lost their lives in the region, the government informed Parliament on Thursday. Minister of State for External Affairs Kirti Vardhan Singh said this in response to a query from CPI(M) MP John Brittas in the Rajya Sabha. The Ministry of External Affairs was asked the number of Indian seafarers and other Indian nationals killed, injured, stranded or evacuated due to the ongoing conflict in the Middle East. "Since the outbreak of the conflict in the Middle East in 2026, 16 Indian nationals including 10 seafarers have lost their lives in the Middle East (one in Saudi Arabia; two in Kuwait; eight in Oman; one in Iraq; and four in UAE), and 75 Indians have been injured (32 in UAE; 24 in Oman; four in Qatar; 13 in Kuwait; one in Saudi Arabia; and one in Israel)," Singh said. In a separate accident not related to attacks, 12 Indian nationals lost their lives in Ras Laffan gas

PM chairs 4th CCS meet on West Asia, orders uninterrupted fertiliser supply

Prime Minister directs ministries to ensure uninterrupted fertiliser supplies for the Rabi season and strengthen support for Indian seafarers affected by the conflict

India shifts methanol imports to China amid West Asia conflict: Crisil

Report says supply disruptions and soaring prices prompted India to diversify sourcing away from the Middle East while boosting imports from China

Oil prices jump nearly 7% after major airstrikes resume in West Asia

Brent crude surged nearly 7% as renewed West Asia strikes, Strait of Hormuz tensions and falling US crude inventories stoked fears of supply disruptions

Urea prices to remain around $500 a tonne: Coromandel International CEO

Coromandel International MD S Sankarasubramanian discusses fertilizer supply, subsidy outlook, urea prices, and the impact of the West Asia conflict on India

Fertiliser industry seeks subsidy rate hike amid rising raw material costs

Rising raw material costs due to the West Asia crisis may pressure India's complex fertilizer production unless the government revises subsidy rates

Further gains for Larsen & Toubro depend on de-escalation in West Asia

Strong order book and healthy guidance support outlook, but sustained easing of geopolitical tensions in West Asia remains key to stronger execution and margin gains

US, Iran pause attacks for second day amid push for ceasefire talks

The United States paused its attacks on Iran for a second straight day Sunday and Tehran said it had done so too, as efforts continued to bring the countries back to negotiations on an interim ceasefire deal largely undermined by recent exchanges of fire. It was not clear why the US has paused after targeting Iranian coastal areas and infrastructure in a nearly two-week escalation sparked by Iran's firing at ships trying to transit the Strait of Hormuz. The Pentagon did not respond to questions Sunday. US President Donald Trump is "giving talks some space. He's giving it a little bit of room," Mike Waltz, the US ambassador to the United Nations, told Fox News. "We've had both Oman and Iran, and a number of our other negotiators, engaged at every level, from the most senior levels all the way down to the technical level over the past few weeks, and particularly in the past few days." Waltz dismissed the idea that the US stockpile of interceptors crucial in defending against Iranian .

Airstrikes pause, talks continue: Can US and Iran take the off-ramp?

The US military has paused its airstrikes on Iran after nearly two weeks of intensifying bombing, while diplomatic efforts have pushed forward to try to avert a return to all-out war. But it remains to be seen whether the US and Iran are at an inflection point in a mercurial conflict that will reach the five-month point Tuesday. President Donald Trump both has threatened more strikes and said talks are pressing on, all while brushing off concerns that rising gas prices tied to the fighting could hurt Republicans in November's midterm elections. Adding to the uncertainty is the impact of Israeli Prime Minister Benjamin Netanyahu's planned visit with Trump next week in Washington. Israel, which launched the war alongside the US on Feb 28, has been notably absent from the renewed American attacks over Iran's effective closure of the Strait of Hormuz, a vital shipping corridor through which 20 per cent of the world's oil normally flows. "The Iranians understand that perhaps it could get

India's private sector activity fell to 4-year low in July: Flash PMI

Business activity weakened as sales and output growth moderated while inflationary pressures intensified amid renewed tensions in West Asia

West Asian oil producers step up plans to bypass Strait of Hormuz

Before the war in Iran, roughly 15 million barrels of Persian Gulf oil were shipped each day through the Strait of Hormuz. Within a few years, much of that oil could bypass the strait. As Iran's chokehold over the strait drags on and oil prices surge, countries across the Gulf are planning to spend billions of dollars to build pipelines enabling them to redirect more supplies to ports along the Red Sea, Suez Canal and Gulf of Oman. At least seven major pipeline projects are under construction, in the planning stage or being discussed as possibilities, according to government officials, oil companies and analysts. Even alternatives to Hormuz can become vulnerable, as Iran-backed Houthi rebels in Yemen have shown this week with a stated blockade on Saudi-linked vessels attempting to transit the Red Sea. But the war has been a wake-up call for Gulf oil producers, who are determined to become less dependent on a transit point that hugs Iran's coast. Some alternative routes will take th

US-Iran war: Why desalination plants are critical to Gulf and under threat

Iranian strikes have exposed the Gulf's dependence on desalination plants. Here's why these facilities are vital, vulnerable during conflict, and what a disruption could mean for the region

BPCL, HPCL post Q1 losses amid crude oil spike, weak fuel margins

State-run oil refiners reported quarterly losses as higher crude oil prices, weak fuel marketing margins and LPG under-recoveries weighed on earnings

Adverse developments in West Asia, US, Russia: India may be worst-hit

The legislation allows US President Donald Trump to impose tariffs of as much as 100 per cent on the top five purchasers of Russian oil and natural gas, essentially targeting China and India

Why US strikes on southern Iran are putting the Gulf's sea lanes on edge

Fighting is spreading across West Asia as the US intensifies strikes on southern Iran, Tehran retaliates across the Gulf, and key energy and shipping routes come under growing threat

What is Iran's Pickaxe Mountain and why has Trump threatened to attack it?

Trump has threatened to attack Iran's Pickaxe Mountain after reports claimed Tehran moved centrifuges to the underground site near its Natanz nuclear facility