Page 8 - West Asia

Hotels likely to wait before unlocking West Asia biz expansion door

Indian hotel companies exploring growth opportunities in West Asia are adopting a wait-and-watch stance as the sudden conflict in the region injects uncertainty into long-term expansion plans

Travel firms hit as West Asia crisis triggers cancellations, stock decline

Travel and tourism stocks fell more sharply than the Sensex as tensions in West Asia led to mass cancellations, flight disruptions and rising uncertainty across key outbound markets for India

West Asia crisis: UAE resumes flights; Indian carriers plan relief

Airspace restrictions across the Gulf disrupted services for a third day, prompting partial resumption in the UAE. Meanwhile, Indian airlines have also mounted relief measures

Flight cancellations due to West Asian crisis trouble telecom execs

Flight cancellations amid West Asia conflict disrupt travel plans of Indian telecom leaders headed to Mobile World Congress in Barcelona

Managing the fallout: West Asian conflict can be challenging for India

Oil imports account for 3.1% of gross domestic product, and according to Nomura, every 10% rise in oil prices worsens India's current account by 0.4 percentage point

Strikes rock West Asia for third day; energy, airspace face major impact

As the conflict entered its third day, energy infrastructure, digital systems and maritime routes came under strain, while diplomatic channels struggled to keep pace with military escalation

West Asia crisis: Piled-up cargo, frozen orders hit textile industry

Vessels wait outside ports as buyers in the UAE and Gulf pause shipments, raising freight, insurance and margin risks for Tiruppur and Surat exporters

Datanomics: How the West Asia conflict risks inflating India's oil bill

A major proportion of India's crude oil imports flows through the Strait of Hormuz, which remains an important trade point in the Gulf

Tea exporters brace for disruption as West Asia conflict hits shipments

Indian tea exporters face rising uncertainty as the West Asia conflict disrupts payments, shipping and freight costs, threatening flows to key Gulf markets that account for over 40% of total exports

Tea exporters brace for disruption as West Asia conflict hits shipments

Indian tea exporters face rising uncertainty as the West Asia conflict disrupts payments, shipping and freight costs, threatening flows to key Gulf markets that account for over 40% of total exports

QatarEnergy to stop LNG output temporarily as West Asia crisis intensifies

QatarEnergy said on Monday it would stop its production of liquified natural gas as the Mideast war rages, taking one of the world's top suppliers off the market. The state-owned firm blamed the war for the decision. It offered no timeline for restoring its production. Oil prices have already risen over the war.

Fintech Pine Labs to launch stablecoin payments outside India, says CEO

Pine Labs does not plan to launch the product in India or China, Rau said

West Asia crisis: Apparel exporters urge govt to waive cargo penalties

Apparel exporters' body AEPC on Monday said it has written to the civil aviation ministry seeking waiver of demurrage charges on export cargo on account of flight disruptions emanating from the ongoing West Asia crisis. Under the existing tariff structure of Cargo Terminal Operators (CTOs), demurrage charges become applicable when cargo remains in terminal facilities beyond the stipulated free period. However, AEPC argued that the present circumstances constitute an exceptional and unavoidable disruption in the global air logistics chain. "Imposition of demurrage in such cases would place an undue financial burden on exporters who are already facing shipment delays, contractual uncertainties, and market-related challenges," Apparel Export Promotion Council (AEPC) Chairman A Sakthivel stated. Sakthivel also suggested that DGCA consider issuing suitable instruction to CTOs to grant waiver of demurrage charges on export consignments that could not be lifted due to flight disruptions,

West Asia conflict: From oil to remittances, how exposed India is to crisis

Iran-Israel conflict: Rising tensions in West Asia put India's oil supplies, trade routes and millions of workers in Gulf nations at risk, raising concerns over remittance flows and safety

IAEA sees no strike on Iran's nuclear sites even as Tehran alleges one

Iran's nuclear programme has been among the reasons Israel and the US have given for the attacks, alleging Iran was getting too close to being able to eventually make an atom bomb

Nasscom asks IT firms to avoid travelling to West Asia, allow WFH

IT industry body Nasscom has advised its member companies to avoid travel to affected parts of the Middle East and urged them to enable work-from-home (WFH) protocols for employees currently stationed in the region amid escalating tensions. In a statement, the National Association of Software and Service Companies (Nasscom) said it is closely monitoring the developments and that employee safety remains the industry's "foremost priority." "As a precautionary measure, Nasscom has advised member companies to defer travel to affected areas. Member companies have also been advised to enable work-from-home arrangements for employees currently in the region," the industry body said. The current situation in the Middle East is marked by a sharp escalation in geopolitical tensions amid the escalating US-Iran conflict. Nasscom noted that while operations across the IT industry are continuing "as usual" at this stage, companies remain vigilant and prepared to take additional measures if the .

Exporters seek demurrage waiver as West Asia disruptions delay cargo

Apparel exporters on Monday urged the government to waive demurrage charges on export cargo at airports, as flight disruptions arising from ongoing West Asian crisis may impact movement of consignments. In a communication to the civil aviation ministry, Apparel Export Promotion Council (AEPC) said the prevailing situation has significantly disrupted international flight operations, resulting in route restrictions, airspace closures, flight diversions, schedule irregularities, and operational constraints at certain overseas airports. Airport demurrage charges are fees on cargo or baggage at an airport terminal being kept beyond the allowed free period. These charges encourage swift clearance. It varies by airport, cargo type and duration. These unforeseen developments have directly impacted the timely movement of export cargo from Indian airports to various international destinations,AEPC Chairman A Sakthivel said. As a consequence, he said export consignments are currently strande

Centre prepared to bring back Indians stranded in West Asia: Pralhad Joshi

The Centre is fully prepared to bring back Indians stranded in the Gulf region and is in touch with Indian missions abroad to ensure their safety, Union Minister Pralhad Joshi said on Monday. In a statement, Joshi said discussions have been held with senior officials of the concerned embassies to facilitate the safe return of those affected by the war situation. "Whenever Kannadigas and other Indians face distress anywhere in the world, the Central Government has ensured their safe return. Earlier, we brought back those stranded in Ukraine. Wherever Indians are, their safety remains our first priority," he said. Joshi said information has been received about Kannadigas facing hardship due to the severity of the IranIsrael conflict, and urgent consultations have been held with senior ministers to take necessary measures for their protection. Reassuring anxious families, the Minister said there was no need to panic and that the government is committed to bringing back all Indians ...

'Will not negotiate with US': Iran's security chief as conflict escalates

Iran's Supreme National Security Council chief Ali Larijani said Tehran will not negotiate with the US, hours after Donald Trump said Iran's new leadership wants to negotiate

Strait of Hormuz must not be shut down: Indian-American maritime executive

Amid escalating tensions in West Asia in the wake of US-Israel strikes against Iran, a leading Indian-American maritime executive has voiced concern over the impact on the crucial oil artery of the Strait of Hormuz and implications for global oil prices. "Shipping is the hardest-hit industry in any such turbulence in the geopolitical situation," Chairman of maritime company Safesea Group Dr S.V. Anchan told PTI. "The Strait of Hormuz must not be allowed to be shut down," Anchan said, calling for urgent action to ensure safe passage of vessels in the area. Anchan said oil prices are expected to rise on Monday in the wake of the geopolitical developments in the region, but added that prolonged high oil prices will be bad for the economy. "It's in no one's interest globally, including the US," he said, adding that "blocking the Hormuz is no less than choking the people at large of the region, at a time when even the airspaces are also closed." There are estimates that already 150 tan