Hyderabad: India’s pharmaceutical sector is staring at potential losses of Rs 2,500– Rs 5,000 crore if March exports to the Gulf Cooperation Council (GCC) and the wider West Asia and North Africa (WANA) are completely disrupted by the ongoing West Asia conflict, which is intensifying pressure on freight, shipping routes, and delivery schedules, according to…
US stocks fell sharply on Friday as surging oil prices and disappointing economic data fuelled concerns about a potential stagflation scenario, where slowing growth combines with rising inflation.The S&P 500 dropped 1.6%, while the Dow Jones Industrial Average fell 909 points, or 1.9%, to 48,338.36 as of 9:35 am Eastern Time, AP reported. The Nasdaq…
The US economy unexpectedly shed jobs in February, marking a sharp reversal from the previous month and raising fresh concerns about the strength of the labour market.Data released by the US Labor Department on Friday showed the world’s largest economy lost 92,000 jobs in February, compared with job growth of 126,000 in January, reported AFP.The…
Commerce and industry minister Piyush Goyal on Friday said that the government will deploy all available policy tools and support mechanisms to help Indian exporters cope with disruptions arising from the ongoing West Asia conflict.Speaking to reporters on the sidelines of the IIFT vice chancellors’ conclave in New Delhi, Goyal said an inter-ministerial group has…
The head of the International Energy Agency (IEA) has cautioned Europe against returning to Russian gas supplies, warning that doing so would be both economically and politically misguided despite the current turmoil in global energy markets, according to a Reuters report.IEA Executive Director Fatih Birol said the ongoing Middle East crisis has prompted fresh debate…
Rupee strengthened 2 paise to 91.62 against the US dollar on Friday after the United States announced a 30-day waiver allowing Indian refiners to purchase Russian oil. This move comes amid the ongoing war in West Asia and aims to ease pressure on global energy supplies.“This stop-gap measure will alleviate pressure caused by Iran’s attempt…
The government has also directed producers to supply LPG, propane and butane to state-run refiners. (AI image) Middle East crisis impact: The government has activated emergency provisions to ensure there is no shortage of liquefied petroleum gas (LPG) in wake of the ongoing US-Israel-Iran war that has hit India’s imports of the energy source. India,…
US President Donald Trump said Thursday he was not worried about rising gasoline prices linked to the widening conflict with Iran, adding that the military campaign was a bigger priority.“I don’t have any concern about it,” Trump told Reuters in an interview when asked about higher prices at the pump. “They’ll drop very rapidly when…
The Strait of Hormuz, a critical global shipping route, is also emerging as a vulnerable corridor for undersea internet cables as tensions in West Asia escalate.The passage controls about a third of India’s westward internet traffic, and experts say this capacity cannot be easily rerouted because alternate routes have limited supply.The deteriorating security situation has…
Asian stocks mostly fell on Friday as the ongoing conflict in the Middle East continued to unsettle global markets, while oil prices remained elevated despite some efforts to ease supply concerns.After a difficult week on trading floors, investors are heading into the weekend uncertain about when the US-Israel war on Iran and Tehran’s attacks across…
