Govt Orders 30-Day LPG Reserves Amid West Asia Crisis
The Indian government has directed oil companies to maintain 30-day LPG reserves to ensure supply stability during the escalating West Asia crisis.
The Indian government has directed oil companies to maintain 30-day LPG reserves to ensure supply stability during the escalating West Asia crisis.
US President Donald Trump says he will decide imminently on the Iran nuclear deal, insisting the Strait of Hormuz must remain open for global oil shipments.
US Treasury Secretary Scott Bessent warned of harsh sanctions against Oman if it helps Iran impose tolls in the Strait of Hormuz, escalating Gulf tensions and raising fears of a wider Middle East conflict.
Japan has reimposed a ban on Indian mango imports after 20 years, citing inadequate pest control measures. The ban, previously lifted in 2006, restores restrictions due to fruit fly concerns.
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RecommendedWith 17 fertiliser ships stranded in the Persian Gulf due to conflict, India plans to transport cargo via road to Yanbu Port in Saudi Arabia, then by sea to Indian ports, despite longer transit times and higher costs.
Oil prices fell slightly on Friday amid reports of a potential US-Iran ceasefire extension, though persistent Middle East tensions and unresolved nuclear issues limited the decline.
US Treasury Secretary threatens Oman over proposed toll collection with Iran in the Strait of Hormuz, escalating tensions in the region.
US and Iranian negotiators have reached a tentative agreement to extend the current ceasefire and initiate new nuclear negotiations, aiming to de-escalate tensions.
Pakistan's tax regime is pushing formal businesses to the brink, with high rates and complex procedures driving many into the informal sector or closure.
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RecommendedThe United States has imposed sanctions on Iran's Persian Gulf Strait Authority for its role in controlling traffic in the Strait of Hormuz, a critical waterway for global oil shipments.
A US team led by chief negotiator Brendan Lynch will visit India from June 1-4 to finalize details of the interim trade pact and advance broader BTA negotiations.
A US trade delegation will visit India from June 1-4 to discuss trade issues, aiming to strengthen bilateral economic ties and resolve outstanding disputes.
Iran's Revolutionary Guards say war with US is unlikely due to enemy weakness, while warning of full readiness to attack. Tensions rise amid ceasefire breaches and ongoing negotiations.
Agoda and the Philippines Department of Tourism announce a strategic partnership to promote and elevate tourism, aiming to attract more visitors through digital initiatives.
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RecommendedIran says US violated ceasefire with defensive strikes in southern Iran. Rubio says peace deal may take days. War since Feb 28 causes oil supply shock, raising fuel and food costs.
Quad partners commit $20 billion to strengthen critical minerals supply chains, reducing reliance on China. Initiative includes mining, processing, and recycling.
India and the US have signed a framework on securing critical mineral supplies amid concerns over China's rare earth dominance, announced on the sidelines of the Quad foreign ministers' meeting in New Delhi.
The Quad nations launched a critical minerals initiative to reduce reliance on China, with top diplomats from India, US, Australia, and Japan attending the meeting.
India and the US signed a bilateral framework for critical minerals and rare earths, aiming to secure supply chains and reduce dependence on China, announced by EAM Jaishankar and US Secretary Rubio.
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RecommendedThe Quad nations are set to launch a Critical Minerals Framework to strengthen supply chains in the Indo-Pacific, reducing reliance on China and ensuring secure access to essential resources.
Senegal refutes a Financial Times report claiming it secretly borrowed 650 million euros to avoid default, stating the transactions followed market transparency rules.
Free trade agreements are set to boost India's textile exports to the EU and UK, with industry targeting $15 billion from $9.76 billion in FY25.
Crisil warns that the West Asia conflict could erode India Inc's profitability by 200 bps, with the ceramic industry facing the sharpest impact due to gas shortages.
US Secretary of State Marco Rubio hints at a soon-to-be-finalized trade deal with India during his first visit, aiming to repair strained bilateral relations over tariff disputes.
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RecommendedHaryana CM Nayab Singh Saini assured traders of full government support amid the Middle East crisis, highlighting new industrial policy and incentives.
A parliamentary committee on commerce has noted that India-US trade relations hold significant potential but face several constraints, calling for strategic engagement to unlock opportunities.
A Wood Mackenzie report warns that global crude oil prices could surge to $200 per barrel if the Strait of Hormuz remains closed through 2026, triggering a severe energy and economic crisis.
The US has paused a $1.4 billion arms sale to Taiwan to conserve munitions stockpiles for potential conflict with Iran, raising concerns in Taipei.
A US delegation will visit India in June for free trade agreement talks, following an Indian team's visit to Washington last month to refine details and push negotiations forward.
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RecommendedUnion Minister Piyush Goyal announced that a US trade delegation is expected to visit India next month to strengthen bilateral trade ties and resolve outstanding issues.