Explore Business Standard
West Asia
Hamas said Thursday it was ready to negotiate the next phase of the ceasefire in the Gaza Strip, after a swap in which it handed over what it said were the remains of four hostages in exchange for the release of more than 600 Palestinian prisoners held by Israel. It was the final such exchange the two sides agreed to as part of a truce that's set to end this weekend. Negotiations over a second phase, in which Hamas would release dozens of remaining hostages in exchange for more prisoners and a lasting ceasefire, have not yet begun. Hamas said in a statement that the only way for Israel to secure the release of the remaining hostages was through negotiations and adhering to the agreement. It warned that any attempt to pull back from the truce will only lead to more suffering for the captives and their families. Hamas confirmed that over 600 prisoners had been released overnight. Most were detainees returned to Gaza, where they had been rounded up after the October 7, 2023 attack that
As the Dubai International Financial Centre (DIFC) continues to bolster Dubai's position in the Middle East, Africa and South Asia (MEASA) region's financial services capital during its 20th year, a significant list of Indian names has been joining the bandwagon. Significant Indian company names added this year include ASK Asset & Wealth Management Group (Wealth Management), AI/tech unicorn, Nagarro. According to a statement released here on Tuesday, Middle East & Asian countries contributed the highest (51 per cent) for DIFC's growth in 2024. Indian companies under financial services include Bharat Re Global Ltd, El Dorado Capital Ltd, Beacon Insurance Brokers, Fort Capital, Mahindra Insurance Brokers, and Nuvama Wealth and Investment Ltd. DIFC houses 6,920 companies, up from 5,523 in 2023, registering a 25 per cent increase. DIFC attracted 1,823 new registrations, the highest-ever number recorded in a year, showcasing historic growth of 25 per cent. Combined revenues for ...
Israel's defence minister says he has instructed the army to prepare plans for large numbers of Palestinians to leave the Gaza Strip in line with President Donald Trump's proposal for the war-ravaged territory. Defence Minister Israel Katz on Thursday said the plan will include options for exit at land crossings as well as special arrangements for exit by sea and air. He said he welcomed Trump's bold plan, which could allow a large population in Gaza to leave for various places in the world. He did not say whether Palestinians would be able to one day return to Gaza, which has been rendered largely uninhabitable by Israel's 15-month military campaign against Hamas. Trump on Wednesday proposed that most of Gaza's population be permanently resettled elsewhere while the United States rebuilds the territory. US officials later said the relocation would only be temporary, but Palestinians fear Israel would never allow them to return, deepening and perpetuating a refugee crisis dating b
India is the most important market globally for Skoda after Europe and the region is helping the automaker to enhance its presence in regional markets like ASEAN and the Middle East, Skoda Auto CEO Klaus Zellmer said on Thursday. Skoda Auto entered the Indian market in January 2000 with the company laying the foundation stone for its plant in Chhatrapati Sambhajinagar (formerly Aurangabad). "We have built on 25 years of experience in India to make this thriving market the cornerstone of our international growth strategy," Zellmer said in a statement. With its tremendous talent pool, growing consumer demand, and access to other markets, India is becoming the Czech carmaker's second pillar outside Europe and helping leverage further sales potential in ASEAN, the Middle East, and the Indo-Pacific region, he added. On behalf of the Volkswagen Group, Skoda Auto has been spearheading all activities in India since 2018. "As the company celebrates 25 years in the country, the Group's focu
External Affairs Minister S. Jaishankar on Tuesday highlighted the significant expansion of India-Middle East engagement in the past decade, driven by strong trade, connectivity, and people-to-people linkages, saying India sees the Middle East as a crucial passage to the world beyond. Addressing the inaugural session of Raisina Middle East here, Jaishankar said the Middle East region, which India calls West Asia, is crucial to India's strategic interests. The country's trade in the Gulf region amounts to about USD 160 to USD 180 billion. "Our presence in the Gulf is both pervasive and crucial. More than 9 million Indians live and work here, but the Gulf also serves as a gateway to the MENA region and the Mediterranean," Jaishankar said. "Our annual trade with the Mediterranean, incidentally, is another USD 80 billion, and the Indian diaspora there is close to half a million," the minister said, adding that India's projects in the region include airports, ports, railways, phosphates,
India, the US and Middle East are together expected to add 100 GW of solar capacity in 2025, while China will remain a dominant player in the sector, Wood Mackenzie has said. According to its latest research, the module prices will also increase this year, after two years of low solar panel prices due to global overcapacity. This will compensate for the significant losses in profits that manufacturers experienced, it said. "Emerging hubs in India, the US and the Middle East are expected to add at least 100 GW to the global solar manufacturing capacity," Wood Mackenzie said. China will remain the dominant manufacturing hub. China will continue to be the world's solar manufacturing centre with 75 per cent (1.2 TW (terawatts) of the global operational capacity for major module components, the report said. Wood Mackenzie said that coordination by Chinese manufacturers, supported by the Chinese government, will be the key to bringing about rationalisation of the industry. In 2025, adv
Even before the ceasefire deal between Israel and Hamas was fully in place Sunday, Palestinians in the war-battered Gaza Strip began to return to the remains of the homes they had evacuated during the 15-month war. Majida Abu Jarad made quick work of packing the contents of her family's tent in the sprawling tent city of Muwasi, just north of the strip's southern border with Egypt. At the start of the war, they were forced to flee their house in Gaza's northern town of Beit Hanoun, where they used to gather around the kitchen table or on the roof on summer evenings amid the scent of roses and jasmine. The house from those fond memories is gone, and for the past year, Abu Jarad, her husband and their six daughters have trekked the length of the Gaza Strip, following one evacuation order after another by the Israeli military. Seven times they fled, she said, and each time, their lives became more unrecognisable to them as they crowded with strangers to sleep in a school classroom, ..
India remains "concerned" at the evolving situation in West Asia and attacks against commercial vessels in and around the Red Sea threaten freedom of navigation and "impact our trade", the government informed the Parliament on Thursday. Minister of State for External Affairs Kirti Vardhan Singh in a written response to a query also said the government has "raised the issue" with the countries in the region and the Indian Missions are "closely monitoring" the situation to mitigate its impact. He was asked about the details of special measures that are being taken by the government to safeguard India's energy security in view of the possible disruptions in the Strait of Hormuz and the Red Sea due to the Israel-Iran conflict and the diplomatic efforts being made by the government to mitigate the impact of this conflict on India's trade routes, especially the Suez Canal and the Red Sea. "India remains concerned at the evolving situation in West Asia. Attacks against commercial vessels i
External Affairs Minister S Jaishankar on Monday said India's approach to the conflict that has been going on in West Asia since last year is balanced as it looks at the issues in all their complexities and also has a fundamental commitment to justice and equity. Jaishankar, 69, also reiterated that India supports a two-state solution to the Israel-Palestine issue during an interaction with the Indian community here. As a country that itself has been impacted so deeply by terrorism, we are very strongly opposed to terrorism and hostage-taking. They should never be excused or condoned, Jaishankar said. But at the same time, it is very important that any action which is taken by any government or any armed force must always take care of civilian casualties and must always be respectful of humanitarian law, the minister said. Jaishankar further said that India has been contributing to the UNRWA (United Nations Relief and Works Agency for Palestine Refugees), the primary relief agency
Syrians poured into streets echoing with celebratory gunfire on Sunday after a stunning rebel advance reached the capital, putting an end to the Assad family's 50 years of iron rule but raising questions about the future of the country and the wider region. Joyful crowds gathered in central squares in Damascus, waving the Syrian revolutionary flag in scenes that recalled the early days of the Arab Spring uprising, before a brutal crackdown and the rise of an insurgency plunged the country into a nearly 14-year civil war. Others gleefully ransacked the presidential palace and the Assad family residence after President Bashar Assad and other top officials vanished, their whereabouts unknown. Russia, a close ally, said Assad left the country after negotiations with rebel groups and had given instructions to transfer power peacefully. Abu Mohammed al-Golani, a former al-Qaida commander who cut ties with the group years ago and says he embraces pluralism and religious tolerance, leads th