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The Latest Breaking News from Middle East

Recession off the cards but Australia faces dreary outlook, economists say

De-escalation of war in the Middle East has lowered oil prices and eased fears of economic downturn but households are still feeling the pinch

The Guardian - AU

Rupee rises 15 paise to 95.28 against US dollar in early trade

The Indian rupee gained fifteen paise against the US dollar in early trade. Saudi Arabia's significant slash in August crude oil prices for Asia improved market sentiment. Lower Middle East risk premiums and improved supply conditions contributed to the rupee's appreciation. Meanwhile, domestic equity markets saw an upward trend with…

The Economic Times

NY Fed says supply chain pressures eased in June

Global supply chain pressures eased in June, with the New York Fed index falling to 1.25 as Middle East disruptions showed signs of easing. Improved transit through the Strait of Hormuz and softer oil prices are expected to moderate inflation, though logistics bottlenecks and supplier delays continue to signal residual…

The Economic Times

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NATO summit in Ankara tests unity as Ukraine war and Trump tensions loom

As NATO leaders gather in Ankara tomorrow, Tuesday, the alliance faces a stark test of unity, burden-sharing and strategic clarity, with the war in Ukraine, transatlantic tensions and Middle East instability all pressing heavily on the agenda.

Radio France Internationale

US service sector growth dips in June; employment rebounds after months of contraction

US services sector activity saw a slight dip in June as the impact of Middle East war-driven order rushes faded. However, employment rebounded strongly, signaling continued labor market stability. While new orders decreased, order backlogs grew. Falling oil prices helped slow inflation, though underlying price pressures persist due to AI…

The Economic Times

OPEC+ to boost crude output, but can it deliver and who will buy?

OPEC+ has boosted oil production quotas for the fifth consecutive month, raising questions about shipping capacity and buyer demand. While Middle East exports are recovering post-conflict, they remain below pre-war levels. The market anticipates a return to oversupply, contingent on stable shipping routes and China's re-entry into the market, which…

The Economic Times

Upbeat outlook for tourism-related stocks

As geopolitical conflicts in the Middle East have begun to soften, the global investor spotlight is shifting back to fundamental economic drivers. The de-escalation of the US-Iran war caused oil prices to dip, allowing tourism-related industries to recover from steep declines during the peak of the tensions.

Bangkok Post

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Netanyahu says some Lebanese Christian villages 'asked to be annexed' by Israel

Lebanon was drawn into the wider Middle East war on March 2 when Hezbollah fired rockets at Israel in retaliation for the killing of Iran's supreme leader in joint US-Israeli strikes. Israel responded with massive airstrikes and a ground invasion of southern Lebanon, where its troops now occupy swathes of…

The Economic Times

Khamenei Funeral Puts Iran-US Talks On Hold. Hormuz, Nuclear Program Hold Key To Peace

Slain supreme leader Ayatollah Ali Khamenei funeral has put in abeyance peace talks with the US to find a resolution to the Middle East conflict. Iran is also seen as increasingly pushing back on US demands in the negotiations.

International Business Times

OPEC+ Raises Output Target For August. Smooth Sailing Seen For Oil Price Trajectory

OPEC+ has agreed to a provide a significant boost to oil output by raising targets from August aimed to further add to global oil supplies after the Middle East conflict spurred prices to as high as $120 a barrel.

International Business Times

Khamenei's three sons attend funeral prayers; successor Mojtaba remains absent on Day 2

Iran mourned Supreme Leader Ali Khamenei, killed in a February 28 airstrike, with prayers and public ceremonies in Tehran. His son and successor, Mojtaba Khamenei, was notably absent, reportedly injured in the same attack. Millions are expected to pay their respects as the nation grapples with calls for revenge and…

The Economic Times

Hormuz disruption, border wars choke Afghanistan's auto trade

Afghanistan's vital car parts trade in Spin Boldak has ground to a halt, crippled by escalating border conflicts with Pakistan and the recent Middle East war. Disruptions to key shipping routes, like the Strait of Hormuz, have sent import costs soaring and left businesses facing massive losses.

The Economic Times

India eyes oil exploration expansion after Middle East war shortages

In response to a critical energy supply crisis, India is ramping up its efforts in domestic crude exploration. The country, known for its reliance on oil imports, is set to unveil extensive uncharted regions for bidding. This initiative, named 'Samudra Manthan,' aims to enhance production levels in light of rising…

The Economic Times

OPEC+ tipped to raise quotas again as Middle East calms

Seven OPEC+ nations, including Saudi Arabia and Russia, are poised to increase oil production quotas for August, aiming to recover from disruptions caused by the Middle East war. Analysts predict a gradual return to normal output levels, though restarting shut-in production will take time.

The Economic Times

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The Economic Times

Iran prepares casket prayers for Ayatollah Ali Khamenei as funeral enters second day

Iran is holding massive funeral ceremonies for its slain Supreme Leader Ali Khamenei, who died in an airstrike. Huge crowds have gathered in Tehran to pay their respects, with chants of defiance against the US and Israel echoing. The nation observes a public holiday as processions are planned through the…

The Economic Times

Iran to impose new service fees in Hormuz, reserves special treatment for 'friendly' nations

Iran's ambassador to China announced new service fees for ships transiting the Strait of Hormuz, despite US objections. Ambassador Abdolreza Rahmani Fazli stated these fees would cover security, supervision, and environmental concerns, with "friendly" nations receiving special consideration. This comes after Iran lifted its blockade of the vital waterway following…

The Times of India

Mojtaba Khamenei's absence draws attention as Iran bids farewell to Ali Khamenei

Iran mourns its Supreme Leader Ayatollah Ali Khamenei, killed in recent Middle East conflict. His funeral, expected to draw millions and foreign dignitaries, is under heightened security due to potential attacks. Notably, his son and successor, Mojtaba Khamenei, was absent from initial ceremonies. Burial plans have been delayed amid security…

The Economic Times

Ali Khamenei's body arrives in Tehran ahead of funeral expected to draw millions

Millions are expected to bid farewell to Iran's Supreme Leader Ali Khamenei, whose body arrived in Tehran for his funeral. The grand ceremony, attended by foreign dignitaries, follows a fragile ceasefire in the Middle East. Preparations are underway for multi-city commemorations, with calls for a massive turnout to avenge his…

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The Economic Times

Sensex jumps 262 points, Nifty closes above 24,270. 7 key factors behind today's D-Street gains

Indian stock markets surged on Friday, with Sensex and Nifty climbing over 0.3% each. This rally was fueled by easing Middle East tensions, reduced expectations of US Federal Reserve rate hikes, and a stronger rupee. IT stocks led the gains, while broader markets lagged. Positive global cues and tapering FII…

The Economic Times

Tata Motors PV shares in focus as Iran-US conflict impacts JLR volumes in Q1. What's ahead?

Tata Motors' luxury arm, Jaguar Land Rover, saw a significant 15.3% drop in retail sales for Q1 FY27. Disruptions from the Middle East conflict, a supplier fire, and phasing out older Jaguar models impacted volumes. Despite these challenges, the strong performance of Range Rover models offers a glimmer of hope…

France 24

Hundreds gather at Khameni funeral site ahead of Saturday opening

Hundreds of people gathered on Friday at Tehran’s Grand Mosalla religious complex where the late Ali Khamenei's funeral will be held over the weekend, AFP said. Officials and foreign dignitaries including Iranian President Masoud Pezeshkian and top negotiator Mohammad Bagher Ghalibaf earlier paid their respects as Iran’s slain supreme leader…

France 24

'No Israeli security without Palestinian freedom; no Palestinian freedom without Israeli security'

In this edition, FRANCE 24's François Picard talks with Dr. Gershon Baskin, Middle East Director of the International Communities Organisation and former hostage negotiator. One thousand days after the outbreak of the Gaza war, Gershon Baskin shares a stark assessment of Israel's political and strategic trajectory. Rather than framing the…

The Times of India

Iran's Supreme Leader Mojtaba Khamenei to skip father Ali Khamenei's funeral over security fears: Report

Iran's new Supreme Leader, Mojtaba Khamenei, will skip his father's funeral due to Israeli threats, according to a representative. This follows a stark warning from Iran's Foreign Minister to the US, citing Israeli remarks about Mojtaba Khamenei being "marked for death." Diplomatic talks in Doha reported positive progress on a…

Barchart

Crude Prices Tumble as Global Oil Supplies Normalize

August WTI crude oil (CLQ26 ) today is down -0.91 (-1.33%), and August RBOB gasoline (RBQ26 ) is down -0.0758 (-2.57%). Crude oil and gasoline prices extended their three-week-long slide today, with crude falling to a new 4.25-month low. Crude prices are falling today as an increase in Middle Eastern...

The Economic Times

Tata Motors PV Q1 update: Sales jump 46%; JLR volumes hit by supply disruptions and Middle East conflict

Tata Motors reported a 46% rise in passenger vehicle sales for the June quarter, driven by strong demand and record EV sales. However, Jaguar Land Rover posted lower volumes due to supply disruptions, geopolitical challenges and the planned Jaguar model transition.

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