War Financial News

The Israel-Hamas war has halted progress on what’s known as the India-Middle East-Europe Economic Corridor (IMEC)— a project touted last year by Washington and key allies that envisages building new rail links across the Arabian peninsula. As Houthi attacks disrupt Red Sea shipping and turmoil spreads across the region, IMEC is effectively on ice.

ceasefire, but the framework plan is being held up by the two sides' differences over how to bring a permanent end to the Gaza war, three sources said. Intense mediation efforts led by Qatar, Washington and Egypt in recent weeks have focused on a phased approach to release different categories of Israeli hostages — starting with civilians and ending with soldiers — in return for a break in hostilities, the release of Palestinian prisoners and more aid to Gaza.

Bloomberg reported. In an official statement, the US Central Command on Tuesday said the facilities are also used by other militant outfits.

NEW DELHI : India saw a steep fall in earnings from exports of refined petroleum products in the nine months from April to December 2023 due to declining crude prices, a rise in domestic consumption, and shrinking discounts on Russian oil. According to data from the government’s Niryat portal, exports of chemicals and petroleum products stood at $59.16 billion in April-December 2023, down 12.54% from $67.64 billion in the year-ago period. In April to December 2021, India’s export value of chemicals and petroleum products amounted to $44.28 billion.

The U.S. Navy’s top Mideast commander says Iran is “very directly involved” in ship attacks by Yemen’s Houthi rebels during Israel’s war against Hamas

By Robert Harvey

Hrithik Roshan, Deepika Padukone and Anil Kapoor starter Fighter, the much-awaited Bollywood action flick, is all set to hit the big screen on Thursday, January 25. The movie has been generating a lot of buzz since the announcement of its launch. Fighter— directed by Siddharth Anand, who is known for Bollywood movies 'War’ and ‘Pathaan’—has become a new sensation after the release of the trailer.

Something unexpected happened at Davos this year. The conventional wisdom took some tentative steps toward the right. Since the financial crisis of 2008-09, the “global conversations" that take place among business, political and social leaders at the World Economic Forum each year have trended left.

WPL 2024 will see the participation of five teams, namely Mumbai Indians, Delhi Capitals, Gujarat Giants, Royal Challengers Bangalore, and UP Warriorz. The matches scheduled until March 4 are set to take place at the M Chinnaswamy Stadium in Bengaluru, while the remaining fixtures of the tournament will be held at the Arun Jaitley Stadium in Delhi.

Yemen's Huthis on Tuesday over their attacks on Red Sea shipping, as the Iran-backed rebels vowed to hit back. The latest raids, heard by residents of the rebel-held capital Sanaa around midnight (2100 GMT), hit eight Huthi targets, a joint US-UK statement said, while the Huthis listed 18 strikes across their territory. US and British forces carried out a first wave of strikes against the rebel group earlier this month, and the United States launched further air raids against missiles that Washington said posed imminent threats to both civilian and military vessels. But the Huthis have vowed to continue their attacks — just one part of a growing crisis in the Middle East linked to the Israel-Hamas war, which has raised fears of a broader war directly involving Iran. The latest strikes were against «eight Huthi targets in Yemen in response to the Huthis' continued attacks against international and commercial shipping as well as naval vessels transiting the Red Sea», Washington and London said in a joint statement with other countries that supported the military action. «These precision strikes are intended to disrupt and degrade the capabilities that the Huthis use to threaten global trade and the lives of innocent mariners,» the statement said. The US Central Command said in a separate statement that the targets of the strikes «included missile systems and launchers, air defence systems, radars, and deeply buried weapons storage facilities». — Attacks won't go 'unpunished' - British Foreign Secretary David Cameron said the Huthis had carried out more than 12 attacks on shipping since the first wave of joint strikes on January 11. «What we have done again is send the clearest possible message that we will

The founders of Wise, Skype and Songkick have raised 400 million euros ($436.4 million) for a new fund to back technology startups in Europe. It seeks to compete with established funds like Atomico, Balderton Capital and Creandum with its founder-led focus.

Shiv Sena (UBT) leader Sanjay Raut on Tuesday said his party's connection with Lord Ram was the oldest and deeply emotional, and claimed if his party was not there, the consecration of Ram Lalla's idol in Ayodhya temple would not have been possible. The Rajya Sabha member was speaking at a party conclave here. «We have a very old connection with Lord Ram.

Gaza Strip in the deadliest attack on Israel's forces since the October 7 Hamas raid that triggered the war, the military said Tuesday, a major setback that could add to mounting calls for a cease-fire. Prime Minister Benjamin Netanyahu mourned the soldiers but vowed to press ahead with the offensive until «absolute victory» over Hamas. He has also promised to return over 100 hostages held captive in Gaza.

Himanta Biswa Sarma has denied permission to the Congress Yatra to travel through Guwahati. -Heavy security has been deployed at Khanapara Area, the entry point of Guwahati for the Bharat Jodo Nyay Yatra. There was barricading and heavy deployment of police officials in the Khanapara Area, where Rahul Gandhi's Yatra will reach today.

British forces carried out a fresh round of strikes on Monday in Yemen, targeting a Houthi underground storage site as well as missile and surveillance capabilities used by the Iran-aligned group against Red Sea shipping, the Pentagon said. The Houthis, who control the most populous parts of Yemen, have said their attacks are in solidarity with Palestinians as Israel strikes Gaza. The Houthi attacks have disrupted global shipping and stoked fears of global inflation. They have also deepened concern that fallout from the Israel-Hamas war could destabilize the Middle East. In the latest response, U.S.

Oil prices eased in early trade on Tuesday as anxiety over the global demand outlook for oil offset geopolitical tensions in the Middle East and supply worries following an attack on a Russian fuel export terminal over the weekend.

European Union can avoid getting swept up into China’s response to US chip-equipment curbs, Beijing’s ambassador in The Hague said in an interview with a Dutch newspaper. “If the Americans treat us in a hegemonic manner, we will of course respond,” said Tan Jian, Chinese ambassador to the Netherlands, in an interview with NRC published Sunday. “But our relationship with the EU should not be affected.”

Vladimir Putin declared the 1867 sale of Alaska “illegal". In a post on X (formerly Twitter), a Ukrainian user ‘Igor Sushko’ wrote, “Putin signed an order insinuating the sale of Alaska to the United States in 1867 was illegitimate. This mofo is trolling the West and our leaders shake in their boots in response." “Hahahah - seriously.

Sony Group's decision to call off its deal with Zee Entertainment Enterprises and seek a termination fee of $90 million (Rs 748 crore) is likely to trigger a messy legal war, with both companies filing cases against each other in multiple judicial forums, lawyers said. After this announcement, both parties can approach an arbitration tribunal as per their contractual agreements, or a high court for any interim relief, they said. On Monday, Zee informed stock exchanges that Sony Group companies Culver Max Entertainment and Bangla Entertainment terminated the merger co-operation agreement and invoked arbitration to get several reliefs. After the approval of the scheme by the National Company Law Tribunal, any dispute relating to changes in the key terms of the merger scheme shows that there are attempts to seek more than what the parties had already agreed under the deal, said Ashish Pyasi, partner of law firm Aendri Legal. «As the parties have already exercised their negotiation option as per the agreement and are now opting for an arbitration dispute, then the termination of the agreement can also be challenged on grounds including non-performance of any conditions of the agreement before the arbitral tribunal,» said Pyasi. «In such an event, the tribunal will decide the issues after considering all the facts to see whether the respective terms have been complied with or not, and whether there is a breach of the agreement or not as alleged.»

Gaza, at meetings with the top diplomats from the two sides and key Arab states in Brussels. The surprise Hamas attack on October 7 on Israel and the subsequent devastating military response from Israel has plunged the Middle East into fresh turmoil and sparked fears of a broader conflict.

Brent crude experienced a 90-cent increase, reaching $79.46 per barrel by 1450 GMT. Simultaneously, the front-month US West Texas Intermediate crude futures contract for February delivery saw a $1.10 rise, reaching $74.42 per barrel in subdued trading conditions as the contract approached its Monday expiration. The March WTI contract, which was more actively traded, rose by 91 cents to reach $74.16.