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₹15,000 crore for various projects, including the airport. "As part of its diversification strategy and funding for infrastructure projects, PFC sanctioned its maiden financing for a Greenfield Airport project in Andhra Pradesh," it said.

Subscribe to enjoy similar stories.For over two decades, an Oman-based NRI has called Muscat home, building a career in a country that levies zero personal income tax.In India, he filed his tax returns dutifully, claimed NRI status and availed the concessional rates that came with it, including the 5-20% flat tax on interest and dividend income, which would otherwise be taxed at slab rates for residents. It was meant to be a watertight benefit under the Double Taxation Avoidance Agreements (DTAA).Then, last year, the income tax department came knocking.

Subscribe to enjoy similar stories.The Alliance Fairfax, a towering black and white car-carrier ship that had been stranded in the Persian Gulf for over two months, was finally making a break for it.“You are all set to go,” a U.S. military officer radioed as the ship glided through the Strait of Hormuz on Monday and swung around the peninsula at the northern end of Oman. “Safe travels.”Soon after, Iran launched a barrage of missiles and drones at commercial ships, at the U.S.

Subscribe to enjoy similar stories.New Delhi: India is tapping alternate trade routes to facilitate movement of cargoes—exports as well as energy imports—moving shipping lines at some of the West Asian ports not affected by the Strait of Hormuz blockade amid the ongoing US-Iran war, said a government official on Wednesday.Speaking to reporters, Opesh Kumar Sharma, director in the ministry of ports, shipping and waterways, said India and West Asian countries are taking these options to ensure least interruption in trade between the Gulf region and India, including fuel shipments, at a time when the Strait of Hormuz, a key channel for 20% of global oil and gas trade, remains largely closed.Alternate shipping services have been operationalized in the backdrop of the West Asia crisis, he said, with shipping lines including CMA CGM (Compagnie Maritime d'Affrètement - Compagnie Générale Maritime), Unifeeder and AP Moller-Maersk connecting Indian ports such as Jawaharlal Nehru Port Authority, Mundra and Hazira to Sohar (Oman), Fujairah (UAE), and Khorfakkan (UAE) in West Asia."So, there are many places which have been activated. The cargo is moving,” he said.The industry and the government have noted issues related to trade routes, and the reduction in congestion at the ports indicated “normalization”, Sharma said.West Asia and North Africa (Wana) is a key region for India for energy imports and non-oil exports.

Subscribe to enjoy similar stories.ISLAMABAD, Pakistan—President Trump scrapped a trip by U.S. envoys Steve Witkoff and Jared Kushner to Pakistan for talks with Iran, leaving himself tough choices over how to force Iran to make concessions the White House wants to strike a deal.Trump said on Saturday that he had decided to cancel the trip after receiving an offer from Iran that fell short of the White House’s expectations.

Subscribe to enjoy similar stories.Vice President JD Vance is expected to lead a new round of peace talks with Iran in Pakistan this week in a fresh effort to end the war with Tehran, but there still appear to be significant gaps between both sides as the U.S. pushes Iran to lock up its nuclear program and reopen the Strait of Hormuz.Vance is expected to arrive in Pakistan on Monday evening for talks with Iran on Tuesday—although Iran was still threatening on Sunday that it wouldn’t attend talks, saying Washington’s demands remain excessive. Pakistan helped broker a two-week cease-fire between the U.S.

Subscribe to enjoy similar stories.Nuvoco Vistas Corp. Ltd’s March quarter (Q4FY26) Ebitda touched a record quarterly high of ₹587.6 crore, aided by better realizations, exceeding Bloomberg’s consensus estimate by 5%.

“We do blue-collar hiring, mainly in the manufacturing and supply chain sectors, and there, the costs of getting workforce in the metros has gone up by about 15-20% in a month,” said Neeti Sharma, chief executive officer of TeamLease Digital, part of the staffing firm TeamLease Group.Scarcity of liquefied petroleum gas (LPG) has forced construction and manufacturing sectors' blue-collared workers—scaffolders, plumbers, welders, etc.—back to their hometowns and villages.Radheshyam and four others together iron clothes in south Mumbai. These migrant workers from Rae Bareli, Uttar Pradesh, together typically use one LPG (liquefied petroleum gas) cylinder for a little over a month.

NEW DELHI: Oil prices have been on the boil since the war between the US, Israel and Iran broke out on 28 February. To ease supply concerns and prices of over $100 per barrel, the Organization of Petroleum Exporting Countries (OPEC) and its allies including Russia, together known as OPEC+, agreed to increase production in May.

Mint.Co-founder Mohal Lalbhai confirmed the fundraise, saying the company is in discussions with existing and new investors to support market expansion this financial year, but declined to comment on valuation. “We are currently in the process of raising around $50 million from existing and new investors as we look to grow our market presence over this financial year,” he said.The round is being led by existing investors, including Capital 2B, and Japan Airlines' JAL Innovation Fund, one of the two people quoted above said on the condition of anonymity.

sulphur demand of about 4 million tonnes. More than three-quarters of this comes from West Asian countries such as the UAE, Qatar, Kuwait, and Oman, according to latest available World Bank Data for 2023.sulphur is widely used to produce sulphuric acid for fertilizers, and is also a key input in chemicals, textiles manufacturing, and electric vehicle batteries.The state-run engineering company received orders worth ₹76,930 crore from thermal power plants in FY25, its latest annual report said.

HLL Lifecare Ltd, Mankind Pharma Ltd and Cupid Ltd are grappling with the unavailability of silicone oil (polydimethylsiloxane PDMS) and a surge in ammonia prices, according to multiple people aware of the development. Ammonia is used to stabilize latex and remove excess proteins, while silicone oil coating acts as a lubricant.Production and order execution have been affected by supply constraints and price volatility in key inputs such as polyvinyl chloride foil, aluminium foil, poly, chemicals, and other packaging materials, as well as by logistics disruptions, said a senior executive from a leading condom maker in the country.Around 40–50% price hike is expected in ammonia, and an “exorbitant increase in the price of silicone oil is causing market uncertainty”, said an executive, who didn’t want to be identified.As it nears four weeks, the West Asia war has disrupted trade through the Strait of Hormuz.

, traders say, can be chalked up to WTI’s location, far from where the oil is needed in Asia. Its lower price also reflects the higher shipping costs required to get it to Asian buyers, as well as angst that the U.S.

State Bank of India has evacuated 64 employees from West Asia to Mumbai over the past few days as the country’s largest lender activated a business continuity plan in response to the escalating war in Iran.SBI obtained approvals from local regulators to temporarily manage its operations in three countries from India, two people aware of the matter said. Only minimal on-ground presence has been maintained in these locations to comply with regulatory requirements.“People have shifted to India after regulators permitted it.

You might have heard that the conflict in the Strait of Hormuz is going to leave poor countries starving. That’s not quite right. The reality may be almost as serious, though—and China will be the victor.The theory stems from the importance of the Persian Gulf in the world’s fertilizer trade.

The war in West Asia has raised geopolitical vulnerabilities. These are not only affecting countries in the region that are directly or indirectly involved in the war, but also much of the rest of the world. The closure of the Strait of Hormuz has already led to a spike in energy prices and shortage of petroleum products, including gas.

LPG) at about 62%. Fertilizer imports account for roughly 30% of consumption.That headline number masks wide variation across nutrients.

On 7 January, Mint made a case for reforming India’s highly inefficient regime of fertilizer production, pricing and distribution, and for switching over from product subsidization to income support for farmers. This imperative has since been sprung centre-stage by a war in West Asia that has disrupted our imports of urea and its feedstock gas, both of which form large shares of domestic usage and have seen global prices flare up.

₹199- ₹2,300, depending on the nature of the flight. With Pakistan airspace already shut for Indian airlines, the disruption in flight routes through West Asia has increased travel time and cost.The financial damage of such disruptions would mount quickly for Indian airlines.

private equity firms adopt a more cautious approach amid geopolitical tensions and tighter exit conditions. Private equity and venture capital firms raised a record $23.2 billion across 123 India-focused funds in 2025, underscoring sustained investor appetite.The firm has already begun deploying capital from the new fund, writing cheques in the range of $15–25 million, and is actively scouting deals in financial services, healthcare, manufacturing and consumer sectors, the people added.Emails sent to OIJIF on Thursday remained unanswered till press time.Established in 2011, the firm has invested over $330 million across 19 companies through its first two funds.

As the conflict in West Asia has nearly frozen all trade movement through the Strait of Hormuz, Indian law firms have seen a surge in queries from companies seeking clarity on whether they can invoke a rare clause to mitigate risk—force majeure.It is a contractual provision that allows a party to suspend or avoid its obligations if an unforeseen event outside its control makes performance impossible. These may include war, government restrictions or major disruptions to shipping routes, if specifically covered in the contract.“The energy sector is reaching out the most, especially companies importing LNG (liquefied natural gas) and crude who now face stranded cargoes and unreliable shipping schedules,” said Charanya Lakshmikumaran, executive partner at Laxmikumaran & Sridharan (LKS).“The shipping and logistics sector is next, dealing with mounting delays, higher war-risk premiums and rerouted vessels,” she said.

Iran’s strategy in its war with the US and Israel is clear: Impose an intolerable economic cost on US President Donald Trump, forcing him to abandon his ‘war of choice’ as American petrol prices surge. Is there any way the Islamic Republic’s blueprint for survival can fail? Yes, if its old regional nemesis, Saudi Arabia, can step in to cushion the global oil market.Enter the East-West pipeline, a 1,200km conduit crisscrossing the Arabian Peninsula from the Gulf to the Red Sea. Its raison d’être is to meet this historic moment.