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The Latest Breaking News from West Asia

RBI's Malhotra says rate hike talk is premature, stays in wait-and-watch mode

Reserve Bank Governor Sanjay Malhotra stated that a rate hike is premature, emphasizing the central bank's cautious, data-dependent approach. While acknowledging moderating risks from West Asia and falling crude prices, the RBI remains vigilant about potential inflation pressures and second-round effects. The focus is on monitoring fuel price impacts and…

The Economic Times

RBI in wait-and-watch mode despite easing West Asia risks: Sanjay Malhotra

Despite easing West Asian tensions, the RBI remains cautious, with Governor Sanjay Malhotra emphasizing data dependency over pre-set interest rate paths. While the truce offers relief on inflation and growth, uncertainties surrounding crude oil prices and the monsoon necessitate continued vigilance. The central bank is closely monitoring potential inflation spillover…

The Economic Times

India needs to diversify its sources of energy needs, says NITI vice-chairman

NITI Aayog Vice Chairman Ashok Kumar Lahiri highlighted that the West Asia conflict, though a temporary supply chain issue, underscores India's need to diversify energy sources. He expressed optimism about an upcoming India-US trade agreement and advocated for including pharmaceutical products in future FTAs. Lahiri likened the crisis to a…

The Economic Times

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Sensex trades on choppy note, Nifty below 24,100 as IT stocks drag benchmarks lower

Indian stock markets saw a subdued trading session on Tuesday, with the Sensex and Nifty experiencing minor dips, primarily due to losses in IT stocks. Broader market indices, however, showed resilience. Analysts point to improving West Asian peace prospects and falling crude oil prices as positive for economic growth, though…

The Economic Times

US authorises Iranian oil sales until August 21 as part of push for final West Asia truce deal

Washington has granted Iran a 60-day waiver on oil sanctions, permitting the nation to produce, export, and sell its crude until August 21. This move, part of an interim deal to de-escalate tensions, offers significant relief to Iran's energy sector. The decision could boost Iranian oil shipments, potentially alleviating global…

The Economic Times

RBI flags rising fuel-price pressures amid West Asia war, says crude is easing as Hormuz fears recede

The Reserve Bank of India has highlighted rising fuel prices and a dip in consumer confidence due to West Asian conflict, despite a recent drop in crude oil costs. While inflation edged up in May, driven by broad-based price increases, the Indian economy remains resilient with sustained activity. However, manufacturing…

The Economic Times

NSA Ajit Doval meets senior Iranian security official

In a significant diplomatic engagement, National Security Adviser Ajit Doval held discussions with Iran's Deputy Secretary for Defence Affairs Ghadir Nezamipour in New Delhi to navigate the complex security dynamics of West Asia.

The Economic Times

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Inflationary pressures, reduction in discretionary cash flows may impact collection of MFIs: Report

Microfinance borrowers' repayment behavior may face challenges from inflation and reduced household cash, though the West Asia conflict hasn't directly impacted the sector. El Nino's effect on rural incomes also warrants attention. While Karnataka saw collection dips after new regulations, Tamil Nadu and Bihar adapted effectively. Stricter lending guardrails have…

The Economic Times

Early signs of stress emerge in MSME loans as West Asia disruptions worry banks: Report

Lenders are concerned about the ripple effects of the West Asia conflict, which has disrupted supply chains and increased input costs for businesses. While the full impact is yet to be seen, public sector banks appear more vulnerable.

The Economic Times

92% of Israelis say Iran won the war; 65% of Americans disapprove of Trump's Tehran policy, polls show

A majority of both Israelis and Americans are dissatisfied with their leaders’ handling of the West Asia crisis, according to two separate surveys.

The Times of India

Iran delegation, led by Speaker Ghalibaf, arrives in Switzerland for first round of technical talks with US

An Iranian delegation, led by Parliament Speaker Ghalibaf, has arrived in Zurich for crucial technical talks with the US. This follows a recent memorandum of understanding aimed at de-escalating tensions in West Asia and reopening the Strait of Hormuz. US Vice President JD Vance is also en route to Switzerland…

The Economic Times

India to host key BRICS security conclave amid rising geopolitical tensions; Wang Yi, Shoigu to attend

Top security officials from BRICS nations, including China's Foreign Minister Wang Yi and Russia's NSA Sergei Shoigu, are gathering in New Delhi for crucial discussions on pressing geopolitical and regional security issues. Chaired by NSA Ajit Doval, the conclave will address terrorism, the Russia-Ukraine conflict, and West Asia's volatile situation.

The Economic Times

Pakistan minister Naqvi in Iran for first high-level trip after initial peace pact

Pakistan's Interior Minister Mohsin Naqvi made an unannounced visit to Iran, arriving in Mashhad and heading to Tehran for talks with senior officials. This marks the first visit by a high-ranking Pakistani official following the US-Iran agreement aimed at West Asian peace. Naqvi is expected to monitor ongoing negotiations between…

The Economic Times

RBI MPC member Nagesh Kumar flags import dependence, Gulf remittances, El Nino risks in minutes

India faces significant economic risks from the West Asia conflict, including potential disruptions to oil and fertilizer imports via the Strait of Hormuz and reduced remittances from the Gulf. El Niño-induced monsoon failures also pose a threat to agriculture. Despite these vulnerabilities, the nation's strong foreign exchange reserves and fiscal…

The Economic Times

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Modi, Trump direct officials to swiftly finalise trade pact: Foreign Secretary Vikram Misri

Prime Minister Narendra Modi and US President Donald Trump have instructed their teams to finalize a trade pact. Significant progress has been made on an interim agreement. US Trade Representative Jamieson Greer will visit India next week. Trade was also a key focus with UK, Canadian, and EU leaders. West…

The Economic Times

India hopes US-Iran peace deal will lead to sustained peace in West Asia

India welcomed the US-Iran peace deal on Thursday. Foreign Secretary Vikram Misri stated that New Delhi remains in close contact with West Asian partners. India advocates for dialogue and diplomacy to resolve conflicts. The nation is prepared to contribute to next steps for regional peace and stability.

The Economic Times

Peace in West Asia expected to boost order book of Indian exporters: Industry body FIEO

The Federation of Indian Export Organisations (FIEO) said that the conflict in West Asia suppressed India's trade volume, with exports to the Middle East suffering a sharp decline during the peak of the disruptions.

The Economic Times

War, oil and El Nino: Triple threat may cut India Inc's profit margins by 150 bps

India Inc faces challenges ahead. Geopolitical tensions in West Asia and El Nino conditions may hurt company profits. Operating profit margins could shrink. Rural demand might be disrupted. Revenue growth is projected to slow down. Companies may face higher costs for imports and fuel. Some sectors show resilience in investment.…

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The Economic Times

Government may lift fuel-supply safeguards once West Asia crisis abates: Official

India plans to ease emergency energy measures as global tensions subside. These steps were taken to ensure fuel availability amid West Asia conflicts. An interim agreement between the US and Iran could normalize shipping through the Strait of Hormuz. This will significantly benefit India, a major energy importer. The government…

The Economic Times

India weighs extending 40-product import duty exemption beyond June 30 amid West Asia tensions

The government will decide on extending import duty exemptions for 40 products after June 30. This decision hinges on the evolving situation in West Asia and its impact on cargo movement. Revenue implications for the government are also a key consideration. The current exemption was put in place to support…

The Economic Times

Markets poised for a positive start as GIFT Nifty ticks higher

Indian equities saw a positive start on Wednesday, with the Sensex and Nifty paring early gains due to profit booking. Analysts anticipate a gradual upward trend driven by easing geopolitical concerns and potential West Asia conflict resolution, further bolstered by declining crude oil prices.

The Economic Times

Avoid IT, focus on growth: Samir Arora's playbook for next 12 months

Investor optimism is rising on hopes of a US-Iran agreement, potentially easing energy market concerns and geopolitical uncertainty. Helios Capital founder Samir Arora believes peace in West Asia could remove a key market overhang and help control oil prices, with a focus on broader outcomes over deal specifics.

The Economic Times

PM Modi, Trump to discuss West Asia crisis, energy partnership, trade deal on sidelines of G7 Summit: Sources

Prime Minister Modi and President Trump are set to discuss West Asia tensions, the Strait of Hormuz, and a bilateral trade agreement during their G7 meeting. Both nations aim to build a long-term energy partnership amid global supply chain concerns. The trade deal is reportedly in its final stages, with…

The Economic Times

SEEPCO supplies 6 million barrels of Nigerian crude to Indian refiners

Amidst West Asia crisis concerns, India's state-run refiners diversified oil supplies by sourcing nearly six million barrels from Nigeria's SEEPCO between March and May 2026. This move, utilizing crude from SEEPCO's Okwuibome field, bypassed the Strait of Hormuz, bolstering India's energy security during global uncertainty.

The Economic Times

Global commodity prices likely to remain elevated amid easing West Asia tensions; India's WPI seen at 7-8% in FY27: Report

Global commodity prices will stay high in coming months. Geopolitical tensions in West Asia and bad weather affecting crops are the main reasons. Supply chains will take time to recover even after conflicts end. This will impact energy, metals, fertilizers, and food prices. India's inflation is expected to average 7-8…

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