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The Latest Breaking News from West Asia

Petrol, Diesel Price Today: Check fuel rates in Delhi, Mumbai, Kolkata as sugar exports halted, milk gets costlier and gold import duty doubled

Petrol, Diesel Price (May 14): Petrol and diesel prices remain stable in India despite rising global crude oil costs and West Asian conflict. Oil marketing companies are absorbing significant daily losses, while the government has banned sugar exports to control domestic prices. Milk has also become costlier, and gold import…

The Economic Times

Ahead of BRICS meet, Iran blames UAE for lack of consensus; Tehran to allow more Indian vessels to pass

The sharp differences within BRICS, which India has blamed for the lack of a consensus on the West Asia situation, became public with Iran accusing the UAE of blocking a joint declaration at the foreign ministers’ meeting that India will host over the next 2 days.

The Times of India

Iran Foreign Minister Araghchi begins 3-day India visit

Iran's Foreign Minister Abbas Araghchi is in New Delhi for crucial BRICS talks, focusing on the escalating West Asian crisis and its impact on global energy. He will hold bilateral discussions with India's S Jaishankar, likely addressing the Strait of Hormuz. The meeting, hosted by India, aims to foster dialogue…

The Economic Times

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India-Russia discuss energy, trade and global tensions as BRICS ministers gather in Delhi

External Affairs Minister S Jaishankar met Russian Foreign Minister Sergey Lavrov for productive talks. They discussed bilateral cooperation in energy and trade. The meeting also covered the West Asia crisis and the Ukraine conflict. India and Russia share an interest in strengthening multipolarity. Other BRICS foreign ministers also arrived for…

The Economic Times

Iran says BRICS unable to reach consensus on West Asia conflict due to UAE stance

Iran's Deputy Foreign Minister Kazem Gharibabadi stated the UAE is hindering BRICS consensus on the West Asia conflict. He expressed Iran's openness to Indian peace initiatives in the region. Gharibabadi mentioned Iran and Oman are developing a new framework for merchant vessels in the Strait of Hormuz. He also noted…

The Economic Times

Iran seeks India’s role in West Asia peace efforts ahead of BRICS meet; plans new Hormuz shipping framework

Iran welcomes India's efforts to bring peace to West Asia. The nation is creating a new framework for ships passing through the Strait of Hormuz. Iran stated that a BRICS member's demand to condemn it has prevented a unified stance. India's impartiality as BRICS chair is appreciated. Iran is committed…

The Economic Times

Central govt employees body seeks 'work from home', online meetings

A central government employees' association has urged the Centre to issue guidelines for work from home and virtual meetings. This follows Prime Minister Narendra Modi's call to cut avoidable expenditure amid the West Asia crisis. The association believes a structured framework will boost productivity and support a green secretariat.

The Economic Times

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Tata Motors turns cautious on capex amid West Asia war headwinds

Tata Motors is proceeding with caution on its spending plans. The West Asia crisis has created several challenges for the company. Despite these headwinds, Tata Motors plans to maintain its capital expenditure of around Rs 3,000 crore for FY27. The domestic commercial vehicle industry is still expected to see single-digit…

The Economic Times

India, Iran hold talks on "bilateral and regional issues"

India hosts the BRICS Foreign Ministers' Meeting soon. Iran's Foreign Minister Seyed Abbas Araghchi will attend. This follows a meeting between Iran's Deputy Foreign Minister Kazem Gharibabadi and MEA Secretary Sibi George. Discussions covered bilateral and regional matters. Iran seeks enhanced BRICS cooperation amid West Asia turmoil. India leads BRICS…

The Economic Times

Why Experts Fear India’s Toughest Economic Phase Yet

A single statement from banker Uday Kotak has suddenly sparked fear across India’s business and financial circles. “The shock is coming,” he warned while speaking about the growing Iran conflict and India’s dangerous dependence on imported oil. At first, it sounded like just another economic caution. But when India’s top…

MyLifeXP

West Asia crisis yet to impact inflation, but fuel prices pass-through to shape outlook: Report

India's retail inflation remains stable despite global tensions. Future price trends will depend on fuel price pass-through and summer crop coverage. Imported inflation has slightly eased. Restaurants and accommodation saw price rises due to LPG shortages. Softening gold and silver prices helped ease personal care inflation. Retail inflation is under…

The Economic Times

Work from home in Noida, Ghaziabad, Lucknow offices soon? UP CM Yogi Adityanath's latest advisory on WFH, no vehicle day

Uttar Pradesh Chief Minister Yogi Adityanath has urged citizens to adopt austerity measures to combat the West Asia crisis. He called for work-from-home twice a week, reduced vehicle usage in official convoys, and a 50% cut in ministerial fleets. The CM also promoted public transport, cycling, and electric vehicles and…

The Economic Times

Has Air India cancelled all international flights until July 2026? Here’s the truth behind the viral claim

Air India Flights: Rumors of Air India suspending all international flights until July 2026 are misleading. The airline has temporarily reduced services on select routes due to rising costs and geopolitical tensions, not a complete cancellation. Flights to major global destinations continue, though some long-haul sectors face reduced frequency.

The Economic Times

Can China's Xi rescue Trump from a bruising West Asia war?

Donald Trump seeks a significant win from his upcoming China trip to bolster his reputation and aid midterm election prospects. The meeting will address critical economic issues, including rare earths and tech goods, with both leaders needing to accommodate each other's political agendas for any meaningful agreement.

The Economic Times

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The Economic Times

War on Iran about oil, not for wiping out civilisation: RSS General Secy Hosabale

The West Asia conflict is driven by oil, not civilization, according to RSS General Secretary Dattareya Hosabale. He believes India can influence leaders towards peace. Wars stem from greed or wicked minds. Hosabale also supported Prime Minister Narendra Modi's call for austerity, deeming it essential for India's well-being.

The Economic Times

ICAI to push for curbing foreign travel, other forex-saving ways among its members, officers

The Institute of Chartered Accountants of India will soon ask members and officers to save foreign exchange. Initiatives include curbing foreign travel and promoting domestic alternatives. An advisory will guide chartered accountants and their families on saving foreign exchange. These measures follow the Prime Minister's call amid West Asia conflict.

The Economic Times

What should you do with your gold investments after PM Modi urges people to postpone gold purchases?

Prime Minister Modi urged citizens to postpone gold purchases to curb India's import bill amidst West Asia tensions. While the intention is welcomed, the industry fears business and job impacts. Experts advise existing investors to hold, suggesting digital gold for new buyers, and propose solutions like domestic gold recycling and…

The Economic Times

West Asia crisis a balance of payments stress test, India better placed to navigate: Nageswaran

India's Chief Economic Advisor V. Anantha Nageswaran described the West Asia crisis as a "live balance of payments stress test" impacting inflation and currency. He highlighted India's strong fiscal consolidation, infrastructure investment, and reforms as crucial for navigating this challenging environment, emphasizing the need for strategic repositioning in a structurally…

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The Economic Times

‘It’s not like a lockdown is going to take place tomorrow’: Puri dismisses fears after PM Modi’s fuel-saving push

Union Minister Hardeep Singh Puri reassured citizens that no lockdown-like restrictions are imminent despite Prime Minister Modi's call for fuel conservation amid the West Asia crisis. Puri asserted India's energy supplies remain stable, with significant domestic LPG production increases and substantial oil and LPG reserves in place.

The Economic Times

AI optimism keeping global markets resilient despite West Asia tensions: William Lee

Global markets remain strong, prioritizing AI and technology over West Asian conflicts. Investors believe the war will be short, allowing focus on future tech growth. The US and Europe are seen benefiting from the AI revolution. A key focus is the upcoming Trump-Xi meeting, which could define US-China tech rivalry.

The Economic Times

Pakistan extends countrywide austerity drive after US, Iran fail to strike deal

Pakistan Prime Minister Shehbaz Sharif has extended nationwide austerity measures until June 13 amid continuing uncertainty over the Iran conflict and fragile ceasefire in West Asia.

The Economic Times

India Inc reads calm, not alarm, in PM Modi's austerity message

Prime Minister Narendra Modi urged a cutback on reducible expenses like fuel, foreign travel, and gold. Industry leaders see this as a call for self-reliance and moderated consumption. Global economic pressures, particularly from the West Asia crisis, are impacting India. Leaders support the Prime Minister's message, emphasizing domestic investment and…

The Economic Times

PM Modi's appeal to postpone gold buying could hurt jewellery industry, says GJC

The gems and jewellery sector anticipates challenges following Prime Minister Narendra Modi's call to delay gold purchases. Industry leaders suggest unlocking existing household gold through a Gold Monetisation Scheme. This approach could reduce imports and strengthen the economy. The appeal aims to conserve foreign exchange amid West Asia's crisis. The…

The Economic Times

Nasscom flags continued hybrid work as IT firms brace for West Asia impact

India's tech industry is stepping into a new era with hybrid work models becoming the norm. In response to global disruptions and energy supply dilemmas, firms are reshaping their operations to find the perfect mix of remote and on-site work. Energy-saving initiatives are taking root, ensuring that sustainability aligns with…

The Economic Times

CIL's April coal auction quantity drops 6% vs March to 30.5 MT

Coal India Limited offered 30.5 million tonnes of coal in April auctions. This marks a slight decrease from March. Global energy prices are high due to West Asia tensions. Power plants are increasing coal use for energy security. Coal India is also allowing buyers from Bangladesh, Bhutan, and Nepal to…

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