Page 8 - West Asia

US, Iran head to Switzerland for peace deal: Here's what world can expect

After more than three months of conflict, the US and Iran have agreed to a peace framework that includes reopening the Strait of Hormuz and restarting nuclear negotiations

Back to the cradle of India's oil industry amid Northeast energy push

A tripartite pact - amid the promise of removing Afspa from almost all of the Northeast - revives hydrocarbon exploration along the Assam-Nagaland border after decades of dormancy

Donald Trump to meet West Asia partners on sidelines of G7 in France

Iran, energy security and trade tensions dominate the G7 agenda as Trump meets Middle East partners and key allies in France

Shipping min orders restricting deployment of Indians in conflict zone

The Directorate General of Shipping (DGS) has advised maritime recruitment and placement agencies to restrict deployment of Indian seafarers to conflict areas until further orders, days after three Indian seafarers onboard MT Settebello were killed after the US military strike on the commercial vessel off the Oman coast. DG Shipping in a circular said masters of vessels operating in or transiting through the Gulf region, including the Strait of Hormuz and adjoining waters, are advised to maintain heightened security awareness, closely monitor navigational warnings received and advisories issued from Security agencies, and implement all applicable ship security measures and Company Security Procedures. "This Directorate further reiterates that all RPSL companies and shipping companies (maritime recruitment and placement agencies) are advised to restrict deployment or send Indian seafarers to conflict areas until further orders. However, companies may carry out crew change in emergency

Iran says draft US deal includes oil sanctions waiver, nuclear limits

A draft Iran-US memorandum reportedly outlines sanctions relief, reopening of the Strait of Hormuz and negotiations on Tehran's nuclear programme

Indian national dies of medical complications aboard vessel off Oman coast

The Embassy of India in Muscat on Saturday condoled his death and is making arrangements for the repatriation of his mortal remains in India

Vessel with 14 Indian crew members involved in incident off Oman coast

Amid heightened tensions in the Gulf region, the Embassy of India in Muscat on Sunday said it has learnt of an incident involving a vessel with 14 Indian crew members off the coast of Oman. The Indian mission did not share any details about the nature of the incident. Search and Rescue is being coordinated with the Omani authorities and vessels in vicinity of the incident, it said in a post on X. "The Mission has learnt of an incident involving an Indian Flagged Mechanised Sailing Vessel Virat 1, off the coast of Oman, reportedly embarked with 14 Indian crew," the mission said. The Oman coast witnessed tensions last week as three vessels with Indian crew members came under US attack in the region. One of them killed three seafarers.

West Asia crisis has impacted fertilisers, pharma sectors, says Nadda

The Union Minister for Health and Family Welfare and Chemicals & Fertilisers, Jagat Prakash Nadda, said that the ongoing West Asia crisis has affected global supply chains linked to the fertiliser and pharmaceutical sectors, but assured that the Government of India has taken adequate measures to ensure that farmers and consumers do not face any hardship.Addressing mediapersons in Shimla, Nadda on Saturday said India had proactively diversified its sourcing strategy and strengthened supply arrangements to shield the country from disruptions arising out of geopolitical tensions in West Asia.Responding to a question from ANI regarding the impact of the crisis on the pharmaceutical and fertiliser industries, Nadda said the government had adopted a multi-pronged approach to safeguard supplies of medicines, medical devices and fertilisers."Despite the West Asia crisis, we have ensured that there will be no shortage of medicines, medical devices or fertilisers in India. Our farmers and

West Asia crisis: Equities surge most in two months as oil slips below $90

The rally was triggered by a sharp decline in crude prices after US President Donald Trump said a peace agreement could be signed as early as this weekend

Realtors brace for project delays as Iran war disrupts supply chains

Developers brace for up to year-long project delays as the prolonged West Asia conflict raises costs, disrupts supplies and worsens labour shortages

US-Iran peace memorandum could be signed on Sunday in Geneva: Source

A US-Iran memorandum to halt the Gulf conflict could be signed in Geneva on Sunday, though key terms remain under negotiation and Iran says no final decision has been made

Sensex rises 1,700 pts intra-day; Nifty above 23,600: Key reasons here

A Bloomberg report said that the US and Iran are edging closer to signing an agreement to reopen the Strait of Hormuz as the Group of Seven world leaders are set to meet next week.

Can crude oil prices dip to $70 if US, Iran sign peace deal? Analysts said this

As per Fitch Ratings' estimates, Brent crude oil is likely to average $100-110/bbl in May-July, before falling to $80/bbl in August, and to about $70/bbl from September.

Higher gas costs may keep city gas distribution margins under pressure

Rising LNG costs and supply uncertainties are squeezing CGD margins, even as strong CNG demand helps sustain volume growth across key markets

Three Indians missing after missile hit on commercial tanker off Oman

MEA says attacks on commercial shipping are a direct consequence of the ongoing regional conflict and calls for de-escalation and safe navigation

India Inc's new supply chain strategy: Replacing efficiency with resilience

Repeated shocks from Covid to conflict in West Asia are pushing Indian companies to diversify suppliers, localise sourcing and strengthen risk monitoring, even at the cost of higher expenses