Page 7 - West Asia

Resolve for avenging martyrs remains alive, says Mojtaba Khamenei

In a statement read on state television, Khamenei added that Iran would move the management of the Strait of Hormuz into a "new phase"

Detroit of Asia sputters as LPG dries up, input costs spike, labour thins

In Chennai's auto nerve centre, Ambattur, prolonged conflict ripples through supply chains, delaying deliveries, raising costs, testing small manufacturers' resilience

West Asia conflict likely to weigh on India Inc's Q4 FY26 results

The combined net profit of Nifty 50 companies likely to grow by 4.2 per cent Y-o-Y in Q4FY26, lowest in the last seven quarters

Reliance on Hormuz for imports above global average: Oil secy Neeraj Mittal

Oil secretary flags higher dependence on Hormuz route for crude, gas and LPG, underscores need for resilient infrastructure amid West Asia tensions

Operators not passing on port relief to exporters, says regulator

Regulator asks operators to pass on benefits directly and seeks proof of higher insurance costs, warning action over unjustified charges

Rising input costs, West Asia war risks weigh on fertiliser sector margins

Rising input costs, supply risks and subsidy pressures amid West Asia tensions could squeeze margins and impact fertiliser output and agricultural demand

Iran shock shows India's external vulnerability, tests growth ambitions

The truly unsettling element in the scenario has been the fall in the exchange rate of the rupee. The fall predates the Iran conflict

Uneasy ceasefire: Mutual mistrust portends trouble for US-Iran talks

Details of the 10-point US-Iran negotiating text remain unclear, but hardline demands from both sides on reopening the Strait of Hormuz suggest common ground may be difficult

Rupee snaps 5-day rally; bond yields rise on crude, US yield surge

Currency weakens and government bond yields rise as crude oil prices and US Treasury yields climb amid geopolitical tensions in West Asia

India caps refinery margins after windfall export tax to curb losses

After imposing a windfall tax on fuel exports, India has moved to cap refinery margins in a bid to offset losses on domestic fuel sales, sources said. The war in West Asia has had two prolonged impacts - spike in international oil prices that has led to record losses on petrol and diesel sales as retail rates have not changed in tandem. Secondly, it has given bumper margins to refineries, who irrespective of retail price freeze, price their products at imported cost. The government last month imposed a Special Additional Excise Duty (SAED) on exports of diesel and aviation turbine fuel (ATF), as part of efforts to curb windfall gains by refiners and boost domestic fuel availability amid tight global markets. Alongside, refining margins have been capped at USD 15 per barrel, with any earnings above that threshold treated as a discount on fuel sold to state-run marketing companies, effectively transferring excess gains to offset retail losses, sources said. The oil marketing companie

Early signs of stress from West Asia crisis visible across sectors: FICCI

Early signs of stress are visible across sectors, warranting proactive measures to mitigate immediate risks as well as to build long-term resilience, industry lobby FICCI said in a report on the implications of the West Asia conflict released on Thursday. The report emphasises that this crisis, while being challenging, also presents an opportunity for India to accelerate structural reforms aimed at strengthening economic resilience and reducing external vulnerabilities. The government may consider the provision of emergency financing for MSMEs and issuance of advisories to address force majeure-related risks in public procurement contracts, ensuring that businesses are not penalised for delays caused by factors beyond their control, says the report. The report also suggests that the government may initiate consultations within the GST Council to explore a roadmap for the inclusion of petroleum products under GST. This would help reduce cost burdens, improve supply chain efficiency a

Rupee falls 0.1% as West Asia truce pushes oil higher, dents stocks, bonds

Rupee slips to 92.65 per dollar as oil prices jump on Middle East tensions, dragging equities and bonds while foreign outflows and weak sentiment add pressure

How Trump admin steered Pakistan to mediate a ceasefire with Iran

Report says Washington pushed Pakistan to broker Iran ceasefire to stabilise oil markets and ease Strait of Hormuz tensions

West Asia war: Iran ties truce to Lebanon; Israel says strikes to continue

A two-week US-Iran ceasefire begins with talks set in Islamabad on Saturday, but the situation remains tense as Israel says its military operations in Lebanon will continue

How West Asia war paralysed an Asian food giant and disrupted global supply

Vietnam, the world's No 2 rice exporter, cut production as power prices surged. Even with a temporary cease-fire in Iran, worries linger over the world's food supply

36 hours of chaos: The last-minute scramble for a ceasefire in Iran

After careening from one diplomatic extreme to another, President Trump finds himself with a fragile deal that is already showing signs of fraying

Ministerial group takes stock of India's readiness for West Asia situation

The Informal Group of Ministers (IGoM), headed by Defence Minister Rajnath Singh, took stock of India's readiness in view of the recent developments in West Asia during its third meeting at Kartavya Bhawan-2, New Delhi, on April 8, the government said in a release.Minister of Finance & Corporate Affairs Nirmala Sitharaman; Minister of External Affairs S Jaishankar; Minister for Agriculture & Farmers' Welfare and Rural Development Shivraj Singh Chouhan; Minister of Commerce and Industry Piyush Goyal; Minister of Chemicals & Fertilizers Jagat Prakash Nadda; Minister of Petroleum and Natural Gas Hardeep Singh Puri; Minister of Consumer Affairs, Food and Public Distribution Prahlad Joshi; Minister of Railways, Information and Broadcasting, Electronics & Information Technology Ashwini Vaishnaw; Minister of Parliamentary Affairs Kiren Rijiju; Minister of Civil Aviation Kinjarapu Rammohan Naidu, and Minister of State (Independent Charge) of the Ministry of Science ...

India's governance excels in emergencies, but falters in long term reforms

India must seize the current energy crisis to reorient policymaking for long-term benefits

Govt hikes LPG allocation to 70% for pharma, food and agri sectors

LPG allocation raised to 70 per cent for key industrial sectors, with cap of 0.2 thousand tonnes per day per sector and conditions for eligibility

India welcomes truce between US and Iran, calls for dialogue and diplomacy

India backs ceasefire and calls for de-escalation as Jaishankar plans UAE visit to discuss energy supplies, trade and regional developments