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The Latest Breaking News from West Asia

Mintoak acquires rewards fintech ICC Loyalty to expand bank platform in West Asia, Africa

Bengaluru-based Mintoak has acquired Dubai's ICC Loyalty for consumer rewards technology. This acquisition was largely funded by Mintoak's cash reserves and a small debt. ICC Loyalty manages credit card reward points for thirty-four banks and eleven million customers. The combined entity now offers a full-stack solution for bank clients. This…

The Economic Times

West Asia conflict adds fresh cost pressures for India Inc

A prolonged conflict in West Asia is making it harder for companies to manage costs as volatility in commodity prices, freight rates and currencies disrupts planning. Firms including AWL, Parle, Blue Star, ITC, Tata Consumer Products and Dabur warned of margin pressure, further price hikes and weaker discretionary demand.

The Economic Times

ITC shares gain 3% after Q1 results. Here’s why Nomura upgraded the stock to Buy

ITC share Price: ITC shares rose 2% after the FMCG major reported June-quarter results, despite a 27% YoY decline in standalone net profit. Revenue grew 28%, while Nomura upgraded the stock to Buy, citing an attractive risk-reward profile and potential recovery in cigarette profitability. ITC also warned that imported inflation,…

The Economic Times

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D-St poised for a positive start as GIFT Nifty trades firmly higher

Domestic markets extended their winning streak for a third consecutive session. Nifty advanced nearly two percent last week, driven by strong quarterly earnings. Analysts expect Indian equities to trade with a positive bias this week. Investors will monitor the RBI's monetary policy decision and PMI data. Crude oil prices and…

The Economic Times

AI boom, West Asia crisis trigger printed circuit board shortage, price rise in electronics industry

This crunch in printed circuit boards (PCB) -- a hardware platform on which components are fixed in electronic products -- stems from rising material costs, supply chain disruptions in key shipping routes, and component diversion toward high-end artificial intelligence hardware.

The Economic Times

LPG price cut today: Commercial cylinders cheaper by over Rs 200 in Delhi & Kolkata; domestic rates remain unchanged

LPG Price August 2026: From August 1, the prices of 19-kg commercial LPG cylinders have been reduced by up to Rs 209, bringing relief to restaurants, hotels and other businesses that rely on the fuel. The latest revision marks the second consecutive monthly cut in commercial LPG prices and comes…

The Economic Times

2,557 Indians evacuated from Iran via Armenia, Azerbaijan amid West Asia conflict: MoS Kirti Vardhan Singh

Over 2,500 Indian nationals were evacuated from Iran through neighboring countries. The Indian Embassy in Tehran facilitated their safe cross-border movement for onward travel. Government advisories urged citizens to consider temporary exits from Iran due to escalating tensions. India remains engaged with regional partners to ensure safety and secure energy…

The Economic Times

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Exporters flag West Asia crisis concerns to Goyal

Indian exporters face order uncertainty and higher logistics costs due to the West Asia crisis. Overseas buyers are cautious, seeking extensions and postponing new purchase decisions. Commerce Minister Piyush Goyal met with export promotion bodies to discuss the evolving situation. Goyal highlighted merchandise exports grew fifteen percent despite global uncertainties.…

The Economic Times

Iran vows to 'punish the aggressor today' after US strikes IRGC targets, says state media

Iran's Revolutionary Guards have issued a stern warning, promising retribution for what they term aggressive actions following intense US military strikes on IRGC bases. These strikes were executed in retaliation for an attempted ballistic missile attack from Iran. US Central Command confirmed that the operations were directed at significant military…

The Economic Times

US claims to strike dozens of IRGC targets in Iran; alleges Iran attempted missile strikes

US Central Command forces conducted significant strikes against dozens of Iranian targets. These actions followed Iran's attempted missile attacks on American forces in West Asia. The strikes aimed to reduce threats posed by Iran and its proxies. US President Donald Trump reaffirmed threats of military action against Tehran. This development…

The Economic Times

Higher crude oil prices could hit India's fiscal health, finance ministry says

India's finance ministry warns of rising crude oil prices impacting fiscal and trade balances. Persistent geopolitical tensions in West Asia present key risks to the nation's economy. The country's external sector remains resilient, supported by strong exports and services trade. Foreign exchange reserves stand at $675.2 billion, offering a significant…

The Economic Times

Ambuja Cements share price target: Nuvama, Motilal, other brokerages see up to 30% upside. Here's why

Ambuja Cements shares rose over 1% despite reporting a 34% YoY decline in Q1 FY27 consolidated net profit to Rs 577 crore. Revenue fell 7.5%, while EBITDA dropped 19% and margins narrowed due to higher fuel and raw material costs amid the West Asia crisis. Despite the weak quarter, brokerages…

The Economic Times

India urges de-escalation in West Asia, condemns Strait of Hormuz attacks

India voiced deep concern over escalating West Asian hostilities and maritime attacks. The nation strongly condemned recent attacks on vessels transiting the Strait of Hormuz. India called for an immediate de-escalation of tensions and unimpeded navigation. The country also highlighted the humanitarian crisis in Gaza and the situation in Yemen.…

The Economic Times

IndiGo bets on India's aviation boom despite West Asia turbulence, oil price risks

IndiGo expects strong air travel growth despite geopolitical tensions and volatile fuel prices. Rising incomes and urbanisation will power the airline's next phase of expansion. The company anticipates a growing middle class will remain the primary demand driver. IndiGo is expanding its international network and fleet for future growth. The…

The Economic Times

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The Economic Times

Rs 30,000 hike: Why Maruti Suzuki had to make cars costlier for you

Maruti Suzuki said it was forced to raise car prices by up to ₹30,000 after the West Asia crisis pushed up input costs, despite delaying increases for months. The company is now counting on the new Brezza SUV, e-Vitara and a multi-powertrain strategy to drive growth while defending its market…

The Economic Times

PM Modi raised issue of safety of India sailors during recent meet with Trump: Govt to Lok Sabha

Prime Minister Modi raised Indian maritime worker safety with President Trump. He also highlighted this issue at the G7 Summit Outreach Session. The ongoing West Asia conflict disrupted global maritime trade and caused seafarer losses. Both leaders reaffirmed commitment to strengthening the India-US partnership. They also welcomed progress in defense,…

The Economic Times

West Asia conflict: Indian airlines cancelled 26,000 international flights due to airspace curbs till July 20

Indian airlines have cancelled approximately 26,000 international flights until July 20. The US-Iran conflict has caused significant airspace restrictions and flight disruptions. Airlines are facing substantial revenue losses and increased operational costs. These costs stem from longer flight durations and higher fuel consumption. Measures are being taken to ensure operational…

The Economic Times

Top OMCs post losses with government weighing relief measures

State-run oil companies HPCL and BPCL reported significant losses for the April-June quarter. This occurred as they sold petrol, diesel, and LPG below market rates. Elevated crude prices, driven by West Asia conflict, impacted their earnings. The oil ministry is now working on a compensation proposal for these companies. The…

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The Economic Times

Recurring West Asia tensions force MSME exporters to prioritise resilience over cost savings

Industry officials say recurring geopolitical disruptions, rising freight costs, and shipping uncertainty are making supply chain resilience as important as low-cost manufacturing for India's MSME exporters.

The Economic Times

Pilots' grouping ALPA India seeks suspension of Indian airlines' flights to West Asia

In March this year also, the Airline Pilots' Association of India (ALPA India) had asked the Directorate General of Civil Aviation (DGCA) to adopt a precautionary approach in view of the evolving military situation and the increasing risks to civil aviation in West Asia.

The Economic Times

RBI Governor flags Iran war, weak monsoon as the biggest risks to India’s inflation and economic growth

Elevated inflation persists due to West Asian tensions and a weak monsoon outlook. The Reserve Bank of India maintains its policy rate, diverging from global peers. Governor Malhotra stated that domestic inflation pass-through has remained limited so far. India's economic fundamentals remain strong despite geopolitical uncertainties and growth forecasts. Policymakers…

The Economic Times

US forces redirect 5 commercial vessels, disable 1 after resumption of naval blockade on Iran

American forces have resumed naval blockade measures against Iran. US naval forces redirected five commercial vessels and disabled one tanker. The USS Donald Cook conducted operations enforcing the ongoing blockade. This action follows the collapse of a recent MoU between the nations. Tensions have escalated in West Asia following these…

The Economic Times

Pakistan's current account slips into $139m deficit in FY26

Pakistan registered a current account deficit of USD 139 million in the last fiscal year. This marked a reversal from the previous year's surplus of USD 1.838 billion. Exports saw minimal growth while imports remained high, creating a significant trade deficit. Remittances played a crucial role in supporting the economy…

The Economic Times

Pakistan to revise oil prices daily amid renewed West Asia tensions

Pakistan fuel price: Pakistan will now adjust petroleum prices daily to manage oil price fluctuations. The government aims for greater transparency in fuel pricing decisions. This move follows criticism regarding delays in passing on lower fuel costs. Turkish Petroleum will begin oil and gas extraction in Pakistan soon. Petrol pump…

The Economic Times

West Asia crisis, uncertain monsoon major risks for growth: RBI Governor Sanjay Malhotra

Reserve Bank Governor Sanjay Malhotra noted West Asia crisis and weak monsoon pose growth risks. India's economy grew over seven percent recently, supported by strong fundamentals. The central bank projects 6.6 percent GDP growth for the current financial year. Inflation forecasts are raised to 5.1 percent, driven by supply-side factors.…

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