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The lubricant industry has seen it’s cost of production rising by 50% since the outbreak of the West Asia conflict making it imperative to pass on part of the extra burden on consumers. The industry done it in two phases and already 30% of the higher cost has been passed on to consumers from this month…
Read More “West Asia conflict hit lubricants industry starts price hike, more increases shortly” »
U.S. President Donald Trump. File | Photo Credit: Reuters Iran’s chief negotiator on Tuesday (May 12, 2026) issued an ultimatum to the United States to accept the conditions in Tehran’s 14-point proposal for peace in the West Asia war or face “failure”. The defiant message came after U.S. President Donald Trump rejected the latest counteroffer…
Read More “Iran chief negotiator says U.S. must accept proposal or face ‘failure’” »
From left to right: Ministry of External Affairs, Additional Secretary (Gulf) Aseem R. Mahajan, official spokesperson of the Ministry of External Affairs Randhir Jaiswal, Additional Secretary, Department of Fertilisers, Aparna S. Sharma, Director General of PIB Mattu J.P. Singh, Ministry of Petroleum and Natural Gas Joint Secretary Sujata Sharma, Director at the Ministry of Ports,…
Read More “No bailout package for OMCs in sight as under-recoveries mount” »
Asia’s first defences against energy shocks from the Iran war are running short and a more consequential second wave of impacts is beginning to hit. Also Read: Updates on Iran-Israel war When the war started, governments scrambled to adapt to the closure of the Strait of Hormuz, a critical artery for energy flowing to Asia….
Read More “Asia braces for second wave of energy shocks from Iran war” »
A view of the Bombay Stock Exchange. FIle | Photo Credit: Getty Images Investors got back to selling of Indian stocks aggressively after a few weeks of calm as U.S. President Donald Trump rejected Iran’s response to the peace proposals and Prime Minister Narendra Modi “advised” citizens to cut buying forex depleting goods and services….
Read More “Stock markets slip more than 1% as U.S. rejects Iran’s response to peace deal” »
Top U.S. diplomat Marco Rubio met Saturday with the leader of Mideast ally Qatar, the State Department said, highlighting the Gulf state’s role as a key intermediary for Washington as it awaited Tehran’s response on a peace proposal. “The Secretary expressed appreciation for Qatar’s partnership on a range of issues,” State Department spokesman Tommy Pigott…
Read More “Iran-Israel war LIVE: Rubio meets Qatari PM as U.S. awaits Iran’s response” »
U.S. imposes sanctions on 10 individuals, companies for aiding Iran’s weapons sector The U.S. Treasury on Friday announced sanctions against 10 individuals and companies, including several in China and Hong Kong, for aiding efforts by Iran’s military to secure weapons and raw materials used to build Tehran’s Shahed drones. The Treasury move, first reported by…
Read More “Iran-Israel war LIVE: Trump says expecting Iran response to latest proposal soon” »
Logo of the the UAE Defence Ministry. Photo: X@modgovae The United Arab Emirates’ Ministry of Defence on Friday (May 8, 2026) announced that the country’s air defences are “actively engaging” with a missile and drone attack as the Iran war’s shaky ceasefire was again challenged. The Ministry advised residents not to approach, photograph or touch…
Read More “UAE reports drone, missile attack as Iran war ceasefire is challenged” »
Stocks sank and oil prices jumped on Friday (May 8, 2026) as U.S.-Iran clashes in the Strait of Hormuz jolted hopes for a deal to end the war and reopen the crucial waterway. Markets across the world have enjoyed a strong run this week on growing optimism that the 10-week conflict — which has sent…
Read More “Oil jumps, stocks fall as U.S.-Iran clashes spark peace talks fears” »
U.S. President Donald Trump said the ceasefire with Iran was still in place Thursday, despite exchanges of fire with Iranian forces in the Strait of Hormuz. “They trifled with us today. We blew them away,” he told reporters in Washington, insisting that talks were “going very well.” -AFP Source link