Page 7 - West Asia

Centre restores 97% gas supplies to fertiliser units amid West Asia crisis

Not only that, through strategic global tendering outside the Strait of Hormuz, India has successfully secured supplies of around 2.5 million tonnes of urea to meet peak kharif demand

IGL Q4 net profit falls 25% to ₹338.75 crore amid West Asia crisis

IGL's revenue from operations rose 5.6% YoY in the quarter to ₹4,584.58 crore

Fertiliser subsidy bill for FY27 may rise by ₹70,000 cr on West Asia crisis

If the actual subsidy numbers come close to the current estimates, this would mean that India's FY27 fertiliser subsidy could be among the highest in recent years

Public sector banks start sending their employees back to West Asia

Had temporarily recalled officials handling treasury, wholesale, and corporate banking as war escalated

Iran war saddles global companies with over $25 billion in losses so far

Rising oil prices, supply disruptions and shipping bottlenecks are forcing companies to cut output, raise prices and suspend payouts

Financial ecosystem becoming resilient despite mkt volatility: Sebi chief

Sebi Chairman Tuhin Kanta Pandey said domestic investors, regulatory reforms and wider participation are helping Indian markets withstand global uncertainty and volatility

Fisme to Siam: Share rising input cost burden with MSME vendors

FISME has asked SIAM and automobile OEMs to help MSME auto component suppliers absorb rising wage, energy and raw material costs linked to the West Asia crisis

Fertiliser subsidy bill for FY27 may rise by ₹70K cr amid West Asia crisis

The government's fertiliser subsidy bill for 2026-27 may surge by Rs 70,000 crore to Rs 2.41 lakh crore, driven by rising import costs of urea and other fertilisers amid the ongoing West Asia crisis, a senior official said on Monday. Aparna S Sharma, Additional Secretary, Department of Fertilisers, on the sidelines of inter-ministerial briefing on West Asia developments, said, "The subsidy bill will go up, but what percentage is something I cannot say." On whether the increase could be as much as Rs 70,000 crore, she said, "may be." The budgetary allocation for fertiliser subsidies in 2026-27 stands at Rs 1.71 lakh crore. Despite the cost pressures, Sharma said fertiliser availability for the 2026 kharif season remains "comfortable", with stocks exceeding 51 per cent of the total requirement of 390 lakh tonne, the gap being bridged through diversified import sourcing. Current fertiliser stocks stand at 200.9 lakh tonne, she said. Domestic production is running at approximately 80

Oil touches 2-week high after drone attack on UAE nuclear power plant

Brent ‌crude futures climbed $1.65, or 1.51 per cent, to $110.91 a barrel by 0703 GMT, but were off the $112 they had touched earlier for their highest since May 5

CM-designate V D Satheesan anchors hope on Kerala's blue economy

The CM-designate draws a revival road map amid state's economic challenges, explains Shine Jacob

India, other oil buyers to negotiate transit corridors with Iran: Moody's

India and other oil importing nations are likely to negotiate bilaterally to secure energy supplies, potentially through coordinated transit corridors, but a return to pre-war traffic volumes is unlikely in 2026, Moody's Ratings has said. In a global report on geopolitical risks, Moody's said there is little prospect of a swift and durable settlement between the US and Iran and with it the full reopening of the Strait of Hormuz. Moody's said the transit flows will gradually improve, but through bilateral channels rather than a general reopening. This would allow some incremental improvement in energy transit flows from near-zero now, but the process will be slow, opaque and subject to interruption. "We expect oil importers -- particularly China, India, Japan and Korea -- to negotiate passage bilaterally with Iran, potentially through coordinated transit corridors such as those reportedly emerging near Larak Island and through Omani territorial waters... A return to pre-conflict ...

Could water-based fuel tech be answer to India's ₹1.7 trn energy crisis?

As India battles soaring energy import costs and a weakening rupee amid global oil turmoil, a Monaco-based fuel technology company says it may have found an answer hiding in plain sight: water. FOWE Eco Solutions, through its patented Cavitech fuel emulsion technology, claims industries can slash fuel consumption by up to 10 per cent, reduce harmful emissions dramatically, and improve equipment performance - all without modifying engines or shutting plants down. The pitch comes at a critical time for India. The country imports nearly 88 per cent of its crude oil needs, while state-run oil firms are reportedly bleeding Rs 1,000 crore a day to shield consumers from global price shocks. Prime Minister Narendra Modi has also publicly urged industries to conserve fuel as a national economic priority. Now, FOWE says its technology can do exactly that. At the heart of the system is a fuel-oil-water emulsion created using Controlled Cavitation Technology (CCT), which disperses microscopic

India's exports at 4-year high, but bullion imports widen trade deficit

India's merchandise exports and imports recorded double-digit growth in April despite supply chain disruptions caused by the ongoing conflict in West Asia

Inflation prints: Wholesale, retail paths diverge amid West Asia turmoil

Over financial years 2017-2026, the volatility of WPI, measured by standard deviation, was almost three times higher than that of CPI, according to the rating agency

Deja vu? Past oil shocks have led to political, economic crises in India

Even assuming the Strait opens by June, the damage implies global oil supply will peak at 102.2 mb per day in 2026

India's ecommerce and ride-hailing firms brace for higher energy costs

Executives warn higher crude prices and West Asia tensions could push up delivery, transport and grocery costs

Voluntary consumption cuts better than sharp fuel price hikes: Officials

India is relying on voluntary fuel conservation and restrained price hikes to shield consumers from the impact of the ongoing West Asia energy shock

Brics ministers fail to reach consensus on West Asia conflict statement

Brics foreign ministers failed to agree on a joint communique amid divisions over the West Asia conflict during the New Delhi conclave

India's Russian oil supply likely to be hit if US waiver not extended

Under the latest US waiver, countries have been allowed to purchase Russian crude oil and petroleum products until May 16 that were loaded onto vessels on or before April 17