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The Latest Breaking News from West Asia

Fuel price hikes, West Asia tensions push Indian businesses towards EV transition

Rising crude oil prices are pushing India towards electric vehicles. Businesses are seeking stable operational costs. This shift is driven by economic necessity. Geopolitical instability in West Asia adds to concerns about fossil fuel dependence. India's EV adoption looks strong, driven by policy and cost savings. Fleet operators prefer local…

The Economic Times

AIIB announces USD 10 bn fund facility to support countries hit by West Asia conflict

Supplementing AIIB's regular financing instruments, the facility offers a time-bound financing envelope of up to USD 10 billion over two years, which provides "exceptional financing support to its members and clients in addressing their acute needs for energy security, food security and economic resilience," AIIB said in a statement.

The Economic Times

Iran capable of using any weapon in its hands: UAE

Presidential adviser Anwar Gargash urged Tehran not to overplay its hand in the stop-start negotiations during the West Asia war's fragile ceasefire. Iranian officials "have missed a lot of chances over the years because there's a tendency to overestimate their cards", Gargash said at a forum in Prague. "I hope…

The Economic Times

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India, Cyprus upgrade ties to a strategic partnership

India and Cyprus have elevated their relationship to a strategic partnership. A joint task force will boost cooperation in infrastructure and shipping. Prime Minister Narendra Modi and Cyprus President Nikos Christodoulides discussed global issues including West Asia and Ukraine. Both nations aim to double investment in the next five years.…

The Economic Times

Emami's desi portfolio puts up a fight as summer sales melt amid West Asia tensions

Emami's Q4FY26 results showed resilience in its core domestic business, which grew 11% excluding the summer portfolio. However, unfavorable summer conditions and West Asian geopolitical disruptions impacted overall performance, leading to a 4% revenue decline. The company expects business momentum to improve from the next quarter.

The Economic Times

Wars in West Asia and Ukraine are turning shipping costs into steel sector’s biggest headache

In the face of a daunting 28-30% increase in international freight costs, India's steel sector is at a crossroads. The unrest in West Asia is inflating the cost of coking coal imports, intensifying the financial strain. Yet, domestic production is holding its ground. The industry is pivoting towards enhancing operational…

The Economic Times

Private, govt banks pledge full support to ECLGS 5.0

Banks are fully supporting the new Emergency Credit Line Guarantee Scheme 5.0. This scheme aims to help businesses facing challenges due to the West Asia conflict. Government officials highlighted its importance for MSMEs in Maharashtra. The scheme provides working capital support. A digital portal simplifies loan applications. This initiative will…

The Economic Times

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'PM Modi will again weep, fold his hands': Rahul Gandhi says will not apologise for 'traitor' remark

Rahul Gandhi warns of an impending economic storm hitting India. He criticizes Prime Minister Narendra Modi for inaction amid the West Asia conflict. Gandhi predicts Modi will face national hardship upon his return. He reiterates past warnings about demonetization and COVID-19. Gandhi also reaffirms his 'traitor' remarks against Modi and…

The Economic Times

Edible oil industry body calls for boosting output, adopting modern farming amid West Asia crisis

India's edible oil imports are a significant economic concern. The Solvent Extractors' Association of India urges increased domestic oilseed production and smarter consumption. These steps are vital for national economic and strategic resilience. The industry seeks policy support to navigate global disruptions and currency fluctuations. Focusing on self-sufficiency offers a…

The Economic Times

ITC Infotech and InsureMO partner to bring AI-driven insurance modernisation to West Asia, Africa, and India

Alliance combines ITC Infotech's agentic AI framework with InsureMO's over 2,500 insurance APIs, enabling carriers to deploy intelligent automation without replacing core systems

The Economic Times

No relief in memory prices visible over next 12-18 months, says IESA president

Memory prices are set to rise for consumers. No major new production capacity is expected in the next 18 months. This will lead to higher costs for devices like smartphones. The ongoing West Asia crisis also impacts raw material availability for electronics. India Semiconductor Mission 2.0 aims to boost the…

The Economic Times

PM Narendra Modi government’s council of ministers to meet on Thursday; key ministry presentations on agenda

Prime Minister Narendra Modi will chair a key Council of Ministers meeting on Thursday, where Union ministries are set to present updates on governance, major policy decisions, and future action plans. The high-level meeting is also expected to review the ongoing West Asia crisis and its possible economic implications for…

The Economic Times

Cement companies' profitability to moderate in FY27 on rising fuel, logistics costs: ICRA

In FY27, Indian cement manufacturers are anticipated to experience a notable dip in profits, ranging from 10-15%. The escalating prices of power and fuel, fueled by geopolitical tensions in West Asia, are set to exert a financial pinch. Although cement prices are likely to rise, they will not fully bridge…

The Economic Times

West Asia crisis, energy supply and bilateral ties: Key takeaways from Putin's China visit

Russian President Vladimir Putin’s visit to China has placed global geopolitical tensions, the West Asia crisis, and the deepening China-Russia partnership firmly in focus.

The Times of India

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The Economic Times

UN cuts India's 2026 GDP forecast to 6.4 pc, still among fastest-growing economies

The United Nations has lowered India's economic growth forecast for 2026 to 6.4 percent. This adjustment reflects global uncertainties and economic shocks from the West Asia crisis. Despite this, India remains one of the world's fastest-growing major economies. The UN notes that India is not immune to these global challenges.

The Economic Times

India must be alert amid West Asia crisis, no immediate worry: Civil aviation minister

India must stay alert to West Asia crisis fallout, though not worried now. Civil Aviation Minister Kinjarapu Rammohan Naidu stated this in Ranchi. Measures are in place to control airfares for domestic passengers. The government is monitoring air travel and will increase flights if demand grows. An investigation into an…

The Economic Times

'Impact on India less due to good management, foresight': Harsh Vardhan Shringla on global energy challenges due to West Asia crisis

India's energy crisis impact remains limited. Rajya Sabha MP Harsh Vardhan Shringla credits the government's effective planning and timely intervention. Energy prices globally have surged significantly. India has cushioned this impact through diversification of energy imports and reduced duties. No fuel shortage or panic buying has occurred. Oil companies absorbed…

The Economic Times

Indian banking system robust despite West Asia crisis, falling forex reserves: Experts

Amid the turbulent times following the West Asia escalations, financial leaders expressed strong confidence in the resilience of the Indian economy and its banking architecture. They dismissed immediate panic over dipping foreign exchange reserves and raging geopolitical tensions.

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The Economic Times

Automakers' joy ride hits a big cost hurdle

Rising input costs and freight charges, driven by the West Asia crisis, are pressuring automakers to increase vehicle prices. This surge in expenses, coupled with a depreciating rupee, threatens to derail the strong demand rally seen post-GST cuts. While sales have shown robust growth, companies face a dilemma between absorbing…

The Economic Times

Zee Entertainment Q4 Results: Co reports net loss of Rs 104 crore

Zee Entertainment Enterprises faced a challenging March quarter. The company reported a net loss of Rs 104 crore, a significant shift from a profit of Rs 188 crore last year. Operating revenue also saw a decline. Advertising and other sales segments contributed to the profit dip. Full-year results also showed…

MarketBeat

MakeMyTrip Q4 Earnings Call Highlights

MakeMyTrip (NASDAQ:MMYT) executives said the company delivered higher full-year revenue and profitability in fiscal 2026 despite repeated disruptions to travel demand, including the West Asia conflict that weighed on outbound and international travel late in the fiscal fourth quarter. Co-Founder an

The Economic Times

Why Emkay is seeing Nifty at 29,000 by March 2027 despite oil shock, West Asia tensions

Emkay Global maintains a bullish outlook on Indian equities, projecting the Nifty could reach 29,000 by March 2027, driven by strong domestic growth, earnings recovery and policy support. The brokerage expects markets to navigate near-term volatility from geopolitical tensions & high crude prices. It also warns of macro risks from…

The Economic Times

Downside risks to economy have begun materializing as continued West Asia conflict casts shadow over India's trade outlook: Crisil

The escalating conflict in West Asia is emerging as a major risk for India’s economy, threatening trade flows, increasing import costs, and putting pressure on growth. Higher crude oil and transportation expenses are expected to widen India’s current account deficit and push inflation upward as businesses pass on rising costs…

The Economic Times

ICRA lowers India's FY27 GDP growth estimate to 6.2%

Rating agency ICRA has revised India's FY27 GDP growth forecast down to 6.2% from 6.5% due to elevated crude oil prices stemming from the West Asia crisis. For FY26, growth is estimated at 7.5%. Q4 FY26 GDP growth is expected to slow to 7% amid moderating industrial and services sectors,…

The Economic Times

India's fuel price hike among world's lowest outside Gulf nations: BJP

Fuel prices saw a hike of about 90 paise per litre. The BJP stated this increase is among the lowest globally. State-run oil firms absorbed significant losses for 76 days before passing on some costs. Global crude prices surged due to the West Asia conflict. India's fuel price rise remains…

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