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The Latest Breaking News from West Asia

Friendly nations can rely on safe commerce, says Araghchi after meeting EAM; welcomes any positive role by India for peace

External affairs minister S Jaishankar and his Iranian counterpart Seyed Abbas Araghchi discussed the West Asia conflict and its implications, including the Strait of Hormuz situation, in their first bilateral meeting since the US-Israel and Iran war started in February.

The Times of India

India ready to extend all possible support for restoration of peace and stability in West Asia: PM Modi

India pledges full support for peace in West Asia. Prime Minister Narendra Modi condemned attacks on the UAE. He praised UAE President Sheikh Mohamed bin Zayed's handling of the situation. India stands with the UAE. The volatile situation impacts global security. India prioritizes dialogue and diplomacy.

The Economic Times

'Russian oil supplies to India have increased': Lavrov hails surging energy ties with New Delhi amid global pressures

He accused the US of seeking to "dominate global energy markets" and sideline Russian firms. Amid West Asia tensions, Lavrov highlighted the "privileged" Moscow-Delhi partnership during the BRICS meeting.

The Economic Times

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India ready to extend all possible support to bring peace in West Asia: PM Modi in UAE

Prime Minister Narendra Modi met UAE President Sheikh Mohamed bin Zayed Al Nahyan in Abu Dhabi. India pledged full support to foster peace in West Asia. The leaders discussed strengthening ties in energy, investment, and supply chains. They also focused on the evolving West Asian situation and energy security. Modi's…

The Economic Times

Indian banks remain stable despite margin pressure after RBI rate cut: Report

Indian banks are financially stable. Bad loans are under control. Profit margins face pressure from recent interest rate cuts. Banks are focusing on low-cost deposits. The West Asia conflict poses potential future risks. Banks are preparing for new credit loss frameworks. Overall, the banking sector shows resilience.

The Economic Times

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

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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

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

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

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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 Times of India

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 Economic Times

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…

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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

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…

MyLifeXP

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…

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