War Financial News

Subscribe to enjoy similar stories.MUMBAI: Cement prices across India have climbed to a one-year high after the West Asia conflict pushed up global energy and freight costs, raising input expenses for manufacturers, with analysts expecting further increases that could bring prices close to four-year peak levels.Cement companies have raised prices by ₹15–20 per 50 kg bag this month, lifting all-India average prices by about 5% in April compared with March, according to a Motilal Oswal report dated 10 April. Manufacturers are facing higher costs for fuel, packaging bags and other inputs, with early signs that the price cycle may extend further.Dealers expect additional hikes in the coming weeks if demand remains steady, according to Motilal Oswal analysts.Data from Crisil Intelligence shows cement prices previously peaked at about ₹305 per 50 kg bag in FY23, driven by a surge in global crude oil prices amid geopolitical tensions following Russia’s invasion of Ukraine.

Subscribe to enjoy similar stories.Mumbai: India’s fast-moving consumer goods (FMCG) companies are set to report a largely steady March quarter, with demand holding up despite a complex operating environment. However, a volatile mix of commodity swings, geopolitical tensions and emerging inflationary pressures is beginning to cloud the outlook, even as companies rely on calibrated pricing and cost controls to protect margins.Large listed players such as Hindustan Unilever Ltd (HUL), ITC Ltd, Nestle India, Dabur, Godrej Consumer Products Ltd and Marico Ltd are expected to reflect these cross-currents in their March quarter earnings, which will kick off later this month.“FMCG companies will be able to maintain a status quo in the domestic market this quarter,” said Ankur Bisen, senior partner and head of retail, consumer products, food and e-commerce sectors at consulting firm The Knowledge Company.

Subscribe to enjoy similar stories.China’s economy got off to a solid start in 2026, with its GDP growing 5% in the first quarter, according to official data released on Thursday. This exceeded the expectations of economists and struck the top-end of the 4.5-5% growth aim set by Beijing for the full year. Driving the expansion were China’s robust exports for the quarter, although its March shipments faced severe headwinds.

Subscribe to enjoy similar stories.The Trump administration spent months demanding the Federal Reserve cut interest rates. This week, two people with close ties to the White House said waiting to move makes some sense.Federal Reserve Governor Stephen Miran, speaking at an economic forum in Washington, D.C., said Thursday he is reconsidering his rate cut outlook for the year, trimming his projection from four cuts to potentially three and acknowledging the inflation picture had become more complicated even before war with Iran began.The remarks came just days after Treasury Secretary Scott Bessent also took a slight turn from his earlier stance on monetary policy.Cuts should come eventually, Bessent said at a Washington conference, but waiting for clarity on the Iran situation makes sense.

Subscribe to enjoy similar stories.India will continue to buy crude oil and cooking gas (liquefied petroleum gas or LPG) from Russia, even after the US’s one-month waiver of sanctions on such imports has expired, according to two people aware of the development.In early March, the US briefly waived sanctions on Russian oil and petroleum products that were already in transit, amid concerns over global supply disruptions linked to the West Asia war. The waiver will not be extended, US treasury secretary Scott Bessent said on Wednesday.The first person cited above said waiver on sanctions is the US’s prerogative, and India’s imports would not depend on it.

Subscribe to enjoy similar stories.An intensifying U.S. naval blockade of Iran is aimed at inflicting such severe economic pain that Tehran will be compelled to quickly submit to Washington’s demands to reopen the Strait of Hormuz and abandon its nuclear ambitions.With crude exports from Iranian ports effectively stopped up, the country will be deprived of a large chunk of its oil revenues.

Subscribe to enjoy similar stories.BE GRATEFUL FOR small mercies. The ceasefire between America and Iran holds. Talks that began in Islamabad last weekend may soon resume.

Subscribe to enjoy similar stories.George R.R. Martin offers an insightful verdict on leadership through Tywin Lannister of Game of Thrones. His grandson King Joffrey, seated on the Iron Throne, screams in frustration: “I am the King.

Subscribe to enjoy similar stories.ROME—As President Trump’s rift with Europe widens, he is casting even his political friends into the chasm.Italian Prime Minister Giorgia Meloni has spent the past year trying to act as a bridge while Trump tussled with other European leaders over tariffs, Ukraine and Greenland.Trump, who previously called Meloni a “great leader,” now says he is shocked by her refusal to send forces to help open the Strait of Hormuz amid the U.S.-Iran war. “I thought she had courage, but I was wrong,” he told the Italian newspaper Corriere della Sera on Tuesday.The abrupt breakdown of their political friendship shows how the middle ground is disappearing between a White House that is demanding loyalty from its allies and a Europe where voters and governments increasingly view the U.S.

Subscribe to enjoy similar stories.Iranian leaders have portrayed the current cease-fire as a victory against an overwhelming U.S. and Israeli onslaught.

Subscribe to enjoy similar stories.Over a small, private dinner of spinach soup, scallops and Diet Coke on Monday night, President Trump told the Dutch king and queen that he wants to bring the war in Iran to a swift end.The only way to get Tehran back to the negotiating table, Trump explained to his royal guests and Dutch officials at the White House dinner, was to increase the pressure, officials briefed on the dinner said.The Dutch government already had declined to help Trump with a blockade on Iranian ports, which it called “worrying” and an “escalation upon escalation.” Dutch Prime Minister Rob Jetten, who had seized on the monarchs’ visit to secure an invitation and speak to Trump, told the president that European allies would stand up an international coalition to help secure the Strait of Hormuz—but only after the fighting ended.“We agree to disagree,” Jetten told reporters afterward. The meal “was too short to convince each other, but long enough to get a better understanding of each other’s positions.”The dinner laid bare the conundrum before Trump as he tries to ratchet up economic pressure on Iran, even as he declared that the war is “very close to over.” While Trump said that he would be announcing “other countries” that will be involved with the blockade, none have stepped forward, and many have outright refused.

Subscribe to enjoy similar stories.India’s exports took a blow in March, with merchandise exports falling to $38.9 billion from $42.1 billion a year earlier. Imports fell to $59.6 billion from $63.7 billion, helping narrow last month’s goods-trade deficit to $20.7 billion. The impact of the US war on Iran seems to have started playing out.

Subscribe to enjoy similar stories.The International Monetary Fund’s (IMF) latest projections for the global economy are broadly along expected lines, but its view on India springs a surprise. The multilateral lender now sees India’s growth exceeding what it had forecast before the outbreak of war in West Asia. At 6.5%, India’s projected GDP growth for 2026-27 is 0.1 percentage point higher than published in the January World Economic Outlook of the IMF and 0.3 percentage point higher than its October view.

Subscribe to enjoy similar stories.Wall Street’s ambivalence toward retail investors was summed up by Joseph P. Kennedy Sr., explaining what convinced him to get out of the stock market before the Crash of 1929.It was, he said, unsolicited investing advice from the guy polishing his wingtips.“When the shoeshine boys have tips, the stock market is too popular for its own good,” said Kennedy, who sold short and made a fortune, giving rise to an American political dynasty.The story seems too perfect to be true, but it underscores the basic tension between Wall Street and individual investors.

Subscribe to enjoy similar stories.Facing a gas supply squeeze amid the West Asia war, India is considering a steep increase in blending compressed biogas (CBG) into city gas networks—potentially up to 20%—in a phased manner to reduce import dependence and cushion supplies, said two people aware of the discussions.The blending mandate for city gas distribution (CGD) entities was 1% as of fiscal year 2026 (FY26), to be gradually increased to 3%, 4% and 5% in FY27, FY28 and FY29, respectively. The government is now considering enhancing this to well beyond 5% and with a much more stringent timeline.This underscores a policy shift towards scaling domestic CBG output, as India prioritizes essential gas use and looks to ease pressure on liquefied natural gas (LNG) imports.Natural gas is processed to produce piped natural gas (PNG) and compressed natural gas (CNG) as fuels for cooking and mobility, respectively.Government is pushing for a higher adoption of piped or city gas by domestic as well as industrial users due to the acute shortage of liquefied petroleum gas (LPG), the more commonly used cooking fuel.The government's focus on compressed biogas is gaining momentum amid the energy supply crunch due to the West Asia war, with India depending on the region for 40% of its natural gas imports.

Subscribe to enjoy similar stories.Amid diesel supply constraints triggered by the ongoing West Asia war, the government’s review of telecom operators and tower firms’ complaints has laid bare a crucial gap: the sector’s “critical infrastructure” tag is not ensuring priority fuel access on the ground. This threatens network continuity, especially in areas reliant on diesel-fuelled power backups, putting essential services—from hospitals to law enforcement—at risk of disruption.Despite its formal classification under national critical frameworks, telecom infrastructure continues to face uneven state-level curbs on diesel sales and movement.

Subscribe to enjoy similar stories.Indian equities caught a strong bid on Wednesday, with both the Nifty 50 and the S&P BSE Sensex rallying nearly 2%, as easing tensions in West Asia lifted investor sentiment. The mood turned distinctly risk-on amid growing signs that the conflict may be approaching a resolution.As per reports, US President Donald Trump suggested the war is “close to over,” even hinting at a second round of face-to-face talks with Iran in Pakistan in the coming days.

Subscribe to enjoy similar stories.NEW DELHI: India’s major ports are set to extend relief measures for exporters hit by disruptions from the ongoing West Asia conflict until the end of April, according to two people aware of the development, as shipping delays and logistics costs remain elevated.The extension will allow exporters to continue availing waivers on ground rent and dwell time charges, along with concessions on reefer plug-in fees and certain vessel-related charges for cargo stranded en route to West Asian markets.The measures, first rolled out in early March, initially covered cargo impacted until 15 March and were later extended to 31 March. With the conflict persisting and containers continuing to face delays and rerouting, authorities are considering a further extension through April.An extension would provide breathing room to exporters grappling with delayed shipments and working capital pressures due to longer transit times and supply chain disruptions, one of the people cited above said.

Subscribe to enjoy similar stories.Amid fuel supply disruptions due to the West Asia war, India's vehicle owners are increasingly turning to retrofitting—converting fossil fuel vehicles to electric vehicles (EVs) and hybrids—to cut running costs as well as to reduce dependence on petrol, diesel and gas.Retrofitting firms such as Bengaluru-based Exponent Energy and Gurugram-based Folks Motor said inquiries have more than doubled since the war, reflecting a sharp rise in consumer interest.While Exponent Energy focuses on the three-wheeler segment, converting liquefied natural gas or compressed natural gas (LPG or CNG) vehicles to EVs, Folks Motor works on converting internal combustion engine (ICE) cars to hybrids.“If you own an LPG or CNG vehicle in the three-wheeler space, you can just come in and overnight be converted to electric,” Arun Vinayak, chief executive and founder at Exponent Energy, told Mint.“We launched it early in Bengaluru as a pilot programme. But it's suddenly seeing a lot of interest, especially people who drive LPG vehicles,” he said.The company had announced entry into the retrofitting space in November, with early pilots beginning in Bengaluru.

Subscribe to enjoy similar stories.WASHINGTON—President Trump’s decision to post an AI-generated image depicting himself as a Christ-like figure sparked outrage on the religious right, triggering the most significant pushback from his Catholic and evangelical Christian supporters since he returned to the White House.“We are a little bit beside ourselves,” said John Yep, CEO of Catholics for Catholics, a nonprofit that has hosted faith events at Trump’s Mar-a-Lago club and maintains close ties to the administration.On Sunday night, Yep was eating dinner with friends after church services when his phone lighted up with messages about the now-deleted image in which Trump, wearing robes, touches the forehead of a man lying in a hospital bed.The collective sentiment around the table, Yep said in an interview, “was one of sadness, because we were truly confused by this president after Catholics gave him such a resounding vote, and yet he is treating our faith with such disrespect at this moment.” He immediately reached out to contacts close to the administration to voice his “sadness and frustration.”Rod Dreher, a conservative writer who attended the Catholic baptism of Vice President JD Vance before he entered politics, went further. “Not saying Trump is the Antichrist,” Dreher told The Wall Street Journal.

Subscribe to enjoy similar stories.NEW DELHI: The government sees limited impact of the West Asia war on India’s FY26 growth, but a prolonged disruption could force some pass-through of elevated global oil prices into retail fuel, according to two officials aware of an internal assessment.The conflict, which began on 28 February, has heightened concerns around energy supply disruptions, particularly through the Strait of Hormuz, a key transit route for global oil trade. While the government has so far absorbed the shock through tax cuts and limited price increases, that cushion may narrow if high crude prices persist.In FY26, India’s economy is projected to have grown 7.6%, according to the second advance estimates released in February.