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The Latest Breaking News from West Asia

India's trade with West Asia gradually improving: Commerce Secy

India's trade with West Asia faced disruptions in May due to the US-Iran conflict. Exports saw a slight dip but are recovering. Imports also declined significantly. The conflict impacted shipping routes like the Strait of Hormuz. Despite challenges, Indian exporters are utilizing Omani ports. A peace deal between the US…

The Economic Times

US-Iran Peace Pact Set For Swiss Signing As Global Allies Urge Stability

World leaders welcome a US-Iran peace agreement, as a diplomatic breakthrough promising stability in West Asia, reopening trade routes, and fostering economic growth.

International Business Times UK

India's trade deficit narrows slightly to $28.21 billion in May as petroleum exports cushion energy import blow

India's trade deficit saw a slight reduction in May. A recent US-Iran agreement is bringing welcome relief. This deal is expected to stabilize shipping through the Strait of Hormuz. Consequently, global crude oil prices should moderate. This will ease pressure on India's import bill and help control inflation. Exporters anticipate…

The Economic Times

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PM Modi welcomes US-Iran peace deal, hopes for peace in West Asia

Prime Minister Narendra Modi has welcomed an understanding between the United States and Iran to end the conflict in West Asia. This development is expected to bring peace and stability to the region. The Prime Minister expressed hope that the agreement will also safeguard global trade routes.

The Economic Times

Congress slams PM Modi's 'blind devotion to Israel', says national interest demands greater balance

Congress has criticized the Modi government's foreign policy. They state Pakistan's influence is growing, posing a challenge alongside China's ties. A US-Iran peace deal is welcomed. This agreement aims to halt hostilities in West Asia. The Strait of Hormuz reopening will bring relief. However, economic issues persist. These concerns predate…

The Economic Times

Sudip Bandyopadhyay bets on pharma, metals and select cyclicals as geopolitical risks ease

Easing West Asia tensions boost global markets, prompting investors to reassess opportunities. Market veteran Sudip Bandyopadhyay favors pharmaceuticals, healthcare, specialty chemicals, agrochemicals, education, and metals, citing earnings visibility and growth drivers. He advises caution on MTAR Technologies due to client concentration and a sharp rally.

The Economic Times

US-Iran peace deal may help boost India's exports, stabilise rupee

A peace deal between the US and Iran is set to reopen the Strait of Hormuz. This agreement is anticipated to significantly boost India's exports to West Asia. It will also help stabilize the Indian rupee and reduce inflationary pressures. The reopening of this vital shipping route promises economic relief…

The Economic Times

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'Opportunity to restore regional peace, stabilise global economy': US-Iran breakthrough draws global support

The major diplomatic breakthrough between Washington and Tehran was announced on Sunday, with President Trump saying that the agreement would bring "peace and security" to West Asia and facilitate the reopening of the critical energy chokepoint Strait of Hormuz.

The Economic Times

Modi government has belittled India's global standing and sovereignty: Mallikarjun Kharge

Congress president Mallikarjun Kharge has criticized Prime Minister Narendra Modi for his silence following the deaths of three Indian mariners. The incident occurred during a US attack on a commercial vessel in West Asia. Kharge stated that silence is not a substitute for accountability. He also accused the Modi government…

The Economic Times

Inflation seen at 5% in FY27, 50-75 bps rate hikes likely as food and fuel risks build: Report

Inflation is set to climb to 5.0 percent in FY27. Upside risks persist due to the West Asia conflict and a potential below-normal monsoon. ICICI Bank Global Markets anticipates policy rate hikes of 50-75 basis points. Food inflation is accelerating, with vegetables seeing a significant jump. Core inflation is also…

The Economic Times

'Not a great environment for Indian market': Harsha Upadhyaya on Iran-US tensions, IT outlook, pharma bet, and where to be cautious

Global challenges are impacting Indian stocks. West Asian tensions and rising US inflation create headwinds. Tech sector shifts also affect markets. Kotak AMC's Chief Investment Officer advises caution. Pharma and healthcare offer a defensive haven. Metals require trimming positions. IT services face structural slowdowns. Foreign investor flows remain a key…

The Economic Times

Gold on course to log worst yearly fall since 2013 if West Asia troubles continue. Time to sell?

Gold has fallen over 25% from its peak despite ongoing geopolitical tensions in West Asia, marking a sharp divergence from its traditional safe-haven role. Profit booking after a strong rally, expectations of higher interest rates, a stronger dollar and elevated bond yields have driven the decline. Analysts, however, say central…

The Economic Times

India "top priority" for France ahead of G7 Summit, focus on West Asia and strategic defence ties

France views India as a top priority partner. Ahead of Prime Minister Narendra Modi's visit, French sources emphasized a special relationship and deep trust. Discussions will focus on defense and technology cooperation, moving beyond a client-customer dynamic. Civil nuclear cooperation is also a key topic. The India-Middle East-Europe Economic Corridor…

The Economic Times

MEA flags growing threat to shipping as MT Jalveer crew evacuation begins

India's External Affairs Ministry voiced worry over ongoing shipping attacks in West Asia. The crew of the vessel MT Jalveer, near Oman, is being evacuated. This follows a recent incident where three Indian nationals died. India has protested the attacks and called for peace and diplomacy in the region. The…

The Economic Times

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The Economic Times

India's economic growth rate to weaken at 6.6% in FY27 on slower investments, consumption: BMI

India's economic growth is expected to moderate to 6.6 percent in the current fiscal year. This slowdown follows a robust 7.7 percent growth in the previous year. Weaker investments and consumption are key factors. Trade disruptions from the West Asia crisis also pose challenges. The Reserve Bank of India's growth…

The Times of India

Missile barrage across Gulf puts region on edge; hopes of an Iran-US deal fade as both sides trade fire: 10 things to know

Tensions surge as the US and Iran exchange fresh military strikes. Iran targeted US bases in Bahrain, Kuwait, and Jordan. The US responded with strikes inside Iran. Regional nations condemned Iran's actions. Fears of a wider war across West Asia intensify. The Strait of Hormuz remains a flashpoint. Diplomatic efforts…

The Times of India

'Netanyahu has gotten things wrong': JD Vance admits differences with Israel amid Iran war

Amid the rapidly evolving situation in West Asia, US vice president JD Vance has said that the United States and Israel are not always aligned, underscoring that Washington will prioritise its own interests when differences arise.

The Economic Times

Gold prices dip Rs 1,600/10 gm, silver crashes Rs 5,000/kg after rising oil prices amid West Asia tensions. Time to sell?

Gold and silver prices opened lower on MCX Thursday. Fresh Middle East tensions and rising oil prices impacted sentiment. US attacks on Iran contributed to the decline. MCX silver futures for July 2026 delivery fell significantly. Gold futures for August 2026 delivery also slipped. Soaring inflation amid the West Asia…

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The Economic Times

Kospi tanks 9% in just two sessions! What’s causing bloodbath in 2026’s top market?

South Korea’s KOSPI has plunged 9% in two sessions after a strong 2026 rally, as AI-driven semiconductor stocks face profit booking. Rising U.S. inflation, geopolitical tensions in West Asia and leveraged ETF volatility have intensified the sell-off, raising concerns that the AI-led rally may have outpaced fundamentals.

The Economic Times

Govt raises nearly Rs 20,000 crore through disinvestment, asset sales as West Asia conflict swells subsidy burden

The Centre has raised nearly Rs 20,000 crore through stake sales and asset monetisation in the first two months of this financial year. This comes as the government faces rising energy and fertiliser costs. Officials are working to boost non-tax revenues to meet spending pressures. The government has also provided…

The Economic Times

FACT, Chambal Fertilisers shares up to 5% as government eyes doubling fertiliser subsidy allocation

Fertiliser stocks rallied after reports of a proposed doubling of subsidy allocation to Rs 1.71 lakh crore for FY27. Rising global prices and supply disruptions linked to West Asia tensions are driving concerns. FACT and Chambal Fertilisers gained up to 5%, while analysts track subsidy trends and import costs closely.

The Economic Times

Fertiliser Ministry seeks to double subsidy from Rs 1.71 lakh crore budgeted for FY27 as Iran war hits costs

With rising prices of imported soil nutrients stemming from ongoing conflicts in West Asia, the fertiliser ministry is pushing for a substantial hike in subsidy allocations for the current fiscal year. This move underscores the government's commitment to farmers, who rely heavily on state-supported urea and P&K fertilisers.

The Economic Times

Petrol, Diesel Price today: Check fuel rates in Delhi, Mumbai, Lucknow, Bhubaneswar and other cities

Today Petrol, Diesel Price June 9: Fuel prices in India remain at their highest since May 2022, with petrol and diesel seeing cumulative hikes of around ₹7.5-₹8 per litre due to the West Asia conflict impacting global crude oil prices. Despite recent minor fluctuations, oil marketing companies continue to face…

The Economic Times

India's EV penetration crosses 11% for first time as auto retail sales hit record in May

India's auto sales reached a record in May, growing 9.55 percent. Electric vehicle penetration surpassed 11 percent for the first time. Dealers reported more inquiries for fuel-efficient and green vehicles following fuel price hikes. Passenger vehicles and two-wheelers saw their best-ever May sales. The outlook for June remains cautiously optimistic,…

The Economic Times

100 days of Iran war, Rs 4,50,000 crore wiped out: Is your stock portfolio safe from missiles?

Indian equities have lost Rs 4.5 lakh crore in 100 days as the Iran-led West Asia conflict and a global AI trade unwind trigger sharp FII outflows. Banking, oil and IT stocks led declines, while pharma outperformed. Analysts warn of earnings downgrades, though valuations are turning attractive in select segments.

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