Business

MUMBAI: The rupee is likely to come under renewed pressure when forex markets open on Wednesday as the conflict in West Asia has worsened the trade and energy situation beyond expectations of analysts.On Tuesday, the Indonesian rupiah, South Korean won and Thai baht each fell by more than 1%, leading losses in Asia, while broader…

File photo: Tata Sons chairman N Chandrasekaran JAMSHEDPUR: Tata Sons chairman N Chandrasekaran, on Tuesday, said that the ongoing conflict in West Asia will have some impact on the supply chain and the group companies have worked out alternative measures to mitigate the impact on their businesses.“I presume business will be affected for some days…

MUMBAI: India’s trade and energy supplies face fresh risks after reinsurers and Protection & Indemnity (P&I) clubs announced cancellation of war risk insurance for vessels transiting the Strait of Hormuz and Iranian waters, following an escalation in the Iran conflict. The cancellations, effective from this week, have left over 150 vessels stranded and disrupted a…

Russia on Tuesday claimed that India has signalled “renewed interest” in importing larger volumes of Russian crude oil as disruptions mount in global energy supplies following the closure of the Strait of Hormuz after US and Israeli strikes on Iran.The Strait of Hormuz, the world’s most critical oil shipping chokepoint, has been facing disruptions after…

With tensions escalating in West Asia, the International Monetary Fund on Tuesday said it is closely tracking the situation but cautioned that it is “too early to assess the economic impact on the region and the global economy,” as disruptions to trade and energy markets intensify.In a statement, the IMF said it has “observed disruptions…

Estimates from experts on India’s dependency on Middle East and the Strait of Hormuz peg it at 50% of India’s oil imports. (AI image) India is among the top five world economies and its energy security is of paramount importance. The ongoing US-Israel-Iran war has caused disruptions in global oil, gas and trading shipments, especially…

A sharp escalation in the Middle East conflict has choked India’s basmati rice shipments, leaving nearly 400,000 metric tons stranded at ports and in transit, while new export deals have come to a halt as freight rates have more than doubled since the US and Israel attacked Iran over the weekend, trade officials told Reuters.India,…

A fresh wave of global selling pressure hit Wall Street on Tuesday, as escalating tensions involving Iran deepened fears of prolonged economic disruption. The S&P 500 fell 1.8 per cent in early trade. The Dow Jones Industrial Average was down 907 points, or 1.9 per cent, as of 9:35 am Eastern time, while the Nasdaq…

Oil prices spiked sharply on Tuesday as the Iran war disrupted supplies, with the Strait of Hormuz effectively closed and key energy infrastructure hit, AFP reported.The Brent North Sea crude contract, the international benchmark, jumped more than eight per cent to $85.12 a barrel, its highest level since July 2024.The main US oil contract, West…

Image used for representative purposes NEW DELHI: Amid the escalating tensions in the West Asia region, the Indian govt has set up an inter-ministerial group that’s monitoring the situation particulary to assess any hurdles in India’s trade and shipping.“We have set up an inter-ministerial group that meets on a daily basis and is closely monitoring…