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The ongoing conflict in the Middle East could pose short-term challenges for the Indian economy by pushing up oil prices and disrupting trade flows, though the country’s long-term growth trajectory is unlikely to be significantly affected, according to Nagesh Kumar, an external member of the Reserve Bank of India’s Monetary Policy Committee (MPC).In an emailed…
As tensions continue to heat up in the Middle East, concerns are raising about disruptions to one of the world’s most critical energy shipping routes, the Strait of Hormuz. Any disruption could significantly affect major oil-importing countries such as India, as the narrow Strait of Hormuz is central to global energy trade. The strait sees…
As the Middle East crisis escalates, concerns have grown over a possible rise in petrol and diesel prices. However, despite a sharp increase in global crude oil prices, fuel rates in major Indian cities have remained unchanged. Consumers can breathe a sigh of relief as retail petrol and diesel prices in the country are not…
A Zepto software developer, Kritika Kumari, was stranded in Dubai amidst escalating Middle East conflict. NEW DELHI: Stranded in Dubai as the Middle East erupted into chaos, Kritika Kumari, a software developer at quick commerce platform Zepto, found herself navigating a tense mix of uncertainty, canceled flights, and missile strikes — and still managed to…
India has sought to buy Russian crude to avoid supply shortages as Middle East tensions show no sign of abating. (AI image) India is back to stepping up purchases of Russian crude as the ongoing US-Israel-Iran war blocks Strait of Hormuz and crucial oil supplies from the Middle East, according to reports. India imports nearly…
The ministry of external affairs has refuted reports which claimed that US is using India’s ports to strike Iran amid the ongoing escalation in Middle East.This comes after former US Army Colonel Douglas Macgregor during an interview with a US-based channel claimed that US was using Indian naval bases in its war against Iran.“All of…
Israel launched pre-dawn strikes on Lebanon Thursday and said it was intercepting fresh missiles from Iran, as a war launched by the United States and Israel widened across the Middle East.The escalation comes as a US submarine sank an Iranian warship in the Indian Ocean and the US Senate voted down a War Powers resolution…
MUMBAI: The government’s decision to hold back cuts in retail petrol and diesel prices despite the earlier fall in global crude has given oil marketing companies (OMCs) room to cushion the impact of fresh spikes. According to a report by Nomura, this buffer means that a 10% rise in crude oil prices is likely to…
File photo: US President Donald Trump US President Donald Trump on Wednesday said the American campaign against Iran was performing beyond expectations, rating it “about a 15” on a scale of 10 and pledging to press ahead with operations alongside Israel.“We’re doing well on the war front, to put it mildly. Somebody said on a…
The United States on Wednesday ordered non-emergency staff at its consulates in Karachi and Lahore to leave Pakistan, citing security concerns as tensions escalate across the Middle East following Iranian retaliation to US-Israeli strikes.The US embassy in Islamabad said the State Department directed non-emergency US government employees and their family members at the two consulates…
