middle east conflict

New Delhi, April 11 The government on Saturday increased the export duty, or windfall tax, on diesel to Rs 55.5 per litre and on aviation fuel ATF to Rs 42 per litre.The duty hike will be effective immediately, the finance ministry said in a notification.The government had, on March 26...

New Delhi, April 11 – Despite the global slowdown, India remains one of the fastest-growing major economies in the world, with an expected growth rate of 6.6% in FY27. This is primarily due to higher energy prices resulting from the Middle East conflict and disruptions in supply chains, which...

Seoul, April 11 – The government announced on Saturday that cash assistance for the bottom 70% of income earners will begin being rolled out later this month, as part of efforts to ease the financial strain caused by rising oil prices.The aid will first reach the most vulnerable within that...

New Delhi, April 10 The Asian Development Bank (ADB) on Friday projected India's GDP growth to remain "robust" at 6.9 per cent in the current fiscal, and rise to 7.3 per cent in the next fiscal, driven by strong domestic demand, and supported by easing financing conditions and lower US tariffs...

Seoul, April 10 – South Korea's central bank kept its benchmark rate unchanged on Friday, as uncertainty in the Middle East prompted a cautious stance amid risks of inflation, currency weakness, and slower growth.In a widely anticipated decision, the Monetary Policy Board of the Bank of Korea...

Colombo, April 9 Sri Lanka and the International Monetary Fund (IMF) have reached a staff-level agreement on economic policies to conclude the combined fifth and sixth reviews of the island nation’s reform program, the global body said in a statement on Thursday.An IMF team was in Sri Lanka...

India Bond Yields Ease After US-Iran Ceasefire and RBI Rate Pause Mumbai, April 8: Indian government bond yields declined on Wednesday as market sentiment improved following a conditional ceasefire between the United States and Iran, alongside the Reserve Bank of India’s decision to hold key...

New Delhi, April 7 – JPMorgan Chase CEO Jamie Dimon has stated that geopolitical tensions, including the wars in Ukraine and Iran, represent the biggest risks facing the bank and the global economy, and urged a renewed commitment to core American values to navigate these uncertainties.The CEO...

Seoul, April 7 – Downside risks to the South Korean economy are increasing amid the prolonged conflict in the Middle East, as rising global oil prices and supply chain disruptions could have broader negative impacts on prices, consumption, and exports, a state-run think tank said on Tuesday...

New Delhi, April 6 – The Securities and Exchange Board of India (SEBI) Chairman, Tuhin Kanta Pandey, stated on Monday that escalating tensions in the Middle East are disrupting global energy flows, putting pressure on oil and gas supplies, and triggering sharp price volatility.In his address...

New Delhi, April 5 – With the ongoing conflict in the Middle East showing no signs of abating, Gulf nations are intensifying their efforts to reduce their dependence on the Strait of Hormuz, a vital transit chokepoint through which nearly 20 million barrels of oil pass daily, according to a...

Seoul, April 5 – Finance Minister Koo Yun-cheol urged the Gulf Cooperation Council (GCC) countries to strengthen cooperation to help stabilize energy and raw material supply chains amid prolonged tensions in the Middle East, the finance ministry said on Sunday.Koo, who also serves as deputy...

New Delhi, April 5 – The apex business chamber, CII, on Sunday sought further fiscal and monetary policy concessions from the government and the RBI to address the global uncertainty triggered by the West Asia conflict, even as it praised “the series of timely, well-calibrated, and coordinated...

New Delhi, April 4: Europe's fragile economic outlook amid geopolitical tensions could have ripple effects on India's trade and sectoral competitiveness, with India potentially benefiting from a free trade agreement (FTA) with Europe, a new report has said.The report, from EY, noted that India...

Seoul, April 3 – The government will take stern measures, including legal action, against malicious activities aimed at exploiting recent market volatility through the spread of fake news and rumors, a senior finance ministry official said on Friday."Spreading unfounded fake news during an...

South Korean Stocks Surge Nearly 2.5% as Hopes Rise Over Strait of Hormuz Reopening KOSPI Rebounds Strongly on Positive Geopolitical Signals Seoul, April 3: South Korean equities opened sharply higher on Friday, with the benchmark Korea Composite Stock Price Index (KOSPI) climbing nearly 2.5...

New Delhi, April 2 The government has directed oil refineries to divert a portion of the feedstock normally used for producing cooking gas (LPG) to industries affected by the ongoing petrochemical shortage, which spans sectors from packaging to condom manufacturing.The Ministry of Petroleum...

Mumbai, April 2 India's sales volume of refined sunflower oil is expected to decline by about 10 per cent in the current fiscal due to supply-chain disruptions caused by the Middle East conflict and rising prices, which are likely to drive consumers towards cheaper alternatives, a report said on...

New Delhi, April 2 The reimposed windfall export taxes on diesel and aviation turbine fuel (ATF) will not apply to Reliance Industries Ltd's SEZ refinery due to court rulings, a senior official said on Thursday.Effective from March 26, the government revised fuel levies, reintroducing export...

India Manufacturing PMI Slows to Four-Year Low in March Amid Rising Costs and Global Uncertainty New Delhi, April 2: India’s manufacturing sector growth moderated sharply in March, with the Purchasing Managers’ Index (PMI) slipping to its lowest level in nearly four years, reflecting mounting...