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The Latest Breaking News from West Asia

Are Petrol Pumps Really Closing Every Sunday?

Imagine driving to a petrol pump on a Sunday morning Only to find the gates locked. That exact fear spread rapidly across social media after a viral message claimed petrol pumps would remain closed every Sunday in several Indian states following Prime Minister Narendra Modi’s fuel conservation appeal. Within hours,…

MyLifeXP

Petrol, diesel prices hiked by Rs 3/litre: Here’s what top economists have to say

Fuel prices in India saw their first increase in over four years on Friday. Petrol and diesel prices rose by approximately Rs 3 per litre. This move by state-run oil companies aims to address mounting losses due to soaring global crude oil prices. The escalation in West Asia and disruptions…

The Economic Times

Mallikarjun Kharge calls fuel price hike "Modi-govt-made crisis," alleges leadership failure amid West Asia conflict

Congress leader Mallikarjun Kharge criticizes the central government over rising petrol and diesel prices. He labels the situation a 'Modi-government-made crisis' and blames leadership failure for the economic burden on citizens. Kharge highlights the cascading effect of inflation from fuel price increases. Union Minister Kiren Rijiju defends the hike, stating…

The Economic Times

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The Rs 3 relief that wasn't: Why investors are dumping oil stocks after long-awaited petrol, diesel price hike

Shares of HPCL and BPCL fell up to 3% despite the first fuel price hike since 2022, as investors worried the increase would not offset mounting losses. Analysts estimate OMCs could still lose nearly Rs 500 crore daily at current crude prices. With Brent crude above $100 and West Asia…

The Economic Times

Petrol Price Today (May 15): Check petrol price in Delhi, Mumbai, Kolkata, Hyderabad, Chennai after fuel rates hiked

Perol price today: Fuel prices surged nationwide on Friday, with petrol and diesel rates increasing by up to Rs 3 per litre. This hike, driven by global crude oil price fluctuations and supply disruptions in West Asia, pushes petrol prices over Rs 100 in several cities. State-run oil companies face…

The Economic Times

Dalal Street set for negative opening as GIFT Nifty trades lower

Nifty closed at 23,690 on Thursday. IT shares faced pressure from global AI competition. Markets will watch West Asia conflict, energy prices, and foreign fund flows. A move above 23,800 could boost Nifty higher. Failure to hold this level may bring selling pressure. India VIX fell. SAIL and Kaynes are…

The Economic Times

UP CM Yogi Adityanath calls for COVID-like national spirit to tide over West Asia crisis

Uttar Pradesh Chief Minister Yogi Adityanath urged citizens to embrace self-reliance amid West Asian crises. He highlighted the state's significant development since 2017, citing infrastructure growth, increased agricultural output, and a tripling of per capita income. Adityanath emphasized the government's commitment to policy and determination for future progress, positioning Uttar…

The Economic Times

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Sunil Bharti Mittal to hand over Airtel to his children in 10 yrs, desires Bharti Telecom regains 51% stake in co

Telecom leader Sunil Bharti Mittal intends to pass on Bharti Airtel's leadership to his children in the next ten years. He also aims for promoter firm Bharti Telecom to reclaim over 50 percent ownership. This transition will depend on Airtel's performance and cash generation. Mittal also plans to increase Airtel's…

The Economic Times

Trump-Xi meeting crucial for global economic stability: Shaun Rein

A high-stakes meeting between US President Trump and Chinese President Xi Jinping is closely watched for signs of stability amid escalating geopolitical friction. Market strategist Shaun Rein highlights the summit's significance, noting that while trade and AI are key, the West Asia crisis may dominate discussions due to US reliance…

The Economic Times

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

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

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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

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…

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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…

The Economic Times

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

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.

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