South Asia

Former Russian President?Dmitry Medvedev's warning has crystallised Gulf state fears that reopening of the Strait of Hormuz could be all the Iran-U.S. negotiations can achieve and fall short of a?broader deescalation? they consider vital. Analysts and officials expect that the next round, which is due to take place in Islamabad on November 30, will be more focused on the uranium enrichment limit and the way Iran can exert influence over the Strait of Hormuz, the most important oil shipping route on the planet. Gulf?officials warn that the approach could entrench Iran's grip over Middle East energy by managing its leverage...

Sources familiar with the situation say that Vice President JD Vance remains in the United States and has not yet left for Pakistan. The prospects of a second round with Iran are still unclear. Donald 'Trump said that he would be sending a delegation of 'U.S. A delegation will be sent to Pakistan to continue the talks before a ceasefire expires in upcoming days. A senior Iranian official said on Monday that Iran was 'considering' attending the peace negotiations, but there had not been a decision made. Second source said that the U.S. delegation has not yet left, but is...

Two Pakistani security sources and a diplomatic source have confirmed that Pakistan has suspended a $1.5billion deal to provide weapons and 'jets to Sudan after Saudi Arabia demanded the agreement be terminated and stated it would not finance the purchase. Conflict between Sudan's army, and its paramilitary Rapid Support Forces, has caused the worst humanitarian crisis in the world for three years. It is now a focal point for foreign interest and threatens to split the Red Sea nation, which is a major producer of gold. Saudi Arabia brokered the deal in January, but Riyadh did not disclose any financing...

Three sources claim that India's central banks has urged the state-run oil refineries to reduce their dollar spot purchases and use a special credit line to meet their foreign exchange requirements. This is a return to the measures taken during the Ukraine conflict to help ease the pressure on the rupee. The Indian currency has been battered by a surge in oil price and heavy outflows of foreign portfolios. The Indian currency has dropped more than 3% this year to new lows, making it Asia’s worst performing major currency. Two sources claimed that the use of the special credit facility...

The?head of United Nations'?trade agency, said Tuesday that the shortages of fertilisers caused by the Iran war is a?priority for developing countries. Gains from higher oil and gas prices are unlikely to last long for producers in the developing world. The'more immediate issue' is fertiliser because it affects food safety and food is the foundation of stability, said Pamela Coke Hamilton, executive director at the International Trade Centre. She added that oil and natural gas can be obtained from other sources so that the situation is "not as dire", even if the price increases are a problem. Coke-Hamilton's agency, which...

In a phone call that took place on Tuesday, Modi revealed in a blog post. Indian media reported that the conversation between the two leaders lasted for nearly 40 minutes. "Received an?a call from my friend President Donald Trump. We analyzed the significant progress made?in various sectors of our bilateral cooperation," Modi said on X. We are committed to strengthening our Comprehensive Global Strategic Partnership across all fields. We also discussed West Asia, and stressed the importance of keeping the Strait of Hormuz secure and open. The conflict in 'Middle East' has affected a wide range of sectors, from air...

The five-star Serena Hotel in Pakistan's capital is now the unanticipated venue for peace talks aimed at ending Iran's war. It has also cemented its reputation as Islamabad's fortified building. The city has been under unprecedented security in the lead up to the talks. Shops and offices were closed for two days before the arrival of U.S. vice president JD Vance who is leading an American delegation and senior Iranian officials. The Red Zone, where embassies and government offices are located, is cordoned off by thousands of security personnel, including paramilitary troops and army soldiers. Serena Hotel may seem like...

U.S. president Donald 'Trump' said on Saturday that a large number of completely emptied?oil tanks?were headed to the United States for refueling with oil and natural gas. "The best and sweetest oil and gas in the World are being loaded into the United States by a large number of oil tankers that are completely empty. Trump stated in a Truth Social posting that "we have more oil and better quality than the next two largest oil economies combined." The post was made as senior U.S. officials and Iranian officials met on Saturday in Islamabad, Pakistan with Pakistani mediators as Tehran...

The Australian Prime Minister Anthony Albanese met with his counterpart Lawrence Wong in Singapore on Friday. They vowed to work together more closely in order to maintain energy security in the face disruptions brought about by the Middle East conflict. Singapore, the oil trading hub in Asia, is the world's largest petrol supplier and also a major diesel and jet fuel supplier to Australia. In Australia, the shortage of diesel has impacted the mining and farming sectors. The leaders agreed to "maximize efforts" to increase their energy security, including ensuring the flow of diesel and LNG. In a joint press...

Two Pakistani sources familiar with the talks said that the United States-Iran talks were in danger of being derailed because of Tehran's attacks against Saudi Arabian industrial facilities. Two Pakistani sources with knowledge of the discussions said that the talks between the United States and Iran were at risk of being derailed?after Tehran's attacks on Saudi Arabian industrial?facilities. One source said that the next few hours are crucial. Trump gave Iran until 8 pm in Washington (3:30 am in Tehran) to end its Gulf oil blockade or the U.S. would destroy every Iranian bridge and power station. Iran has threatened...

Iran and Israel exchanged attacks on Tuesday, as Tehran defiantly refused to reopen Strait of Hormuz or accept a ceasefire agreement on the eve of the deadline set by U.S. president Donald Trump for Tehran to comply with his demands. According to a source familiar with the plan, Iran rejected the U.S. proposal that was mediated by Pakistan. The plan called for an "immediate" ceasefire, the lifting of the effective blockade in the Strait of Hormuz, and then talks about a wider peace settlement to be held within 15 to 20 working days. IRNA, the official news agency, reported that...

Donald Trump, the U.S. President, said that the deadline of Tuesday for Iran to reach a peace agreement is final. He called Iran's "peace proposal" significant but not enough. Trump warned that U.S. troops would launch a broad attack on Iranian infrastructure in the event his deadline of Tuesday night is not met. Iran rejected Trump's Tuesday deadline. "They made a proposal, and it is a significant one. This is a major step. "It's not good enough," Trump said to reporters at an Easter Egg event on the South Lawn of the White House. The war could be over very...

Investors remain cautious, as they 'look to tentative U.S.Iran talks as well as a upcoming Senate confirmation hearing of Kevin Warsh as Federal Reserve Chairman nominee. At 9:33 am EDT (1333 GMT), spot gold was down by 0.9% at $4,776.49. U.S. Gold Futures for June Delivery fell by 0.7% to $4795.40. Dollars in other currencies are now paying more for greenback-priced gold. The weekend's events and mixed rhetoric have made the markets hesitant. This may keep gold in a tight range for the time being and limit 'bulls' until there is certainty, said Zain Vawda. Analyst at MarketPulse. He said...

The 'dollar strengthened on Monday, and gold prices fell. Meanwhile, news that the 'Strait of Hormuz was closed again drove oil prices up. Inflation fears were revived by the news that the Strait of Hormuz would be closed once more. As of 0155 GMT spot gold was down 0.4% to $4,809.71 an ounce after reaching its lowest level since the April 13 session earlier in this session. U.S. Gold Futures for June Delivery fell 1% to $ 4,829.40. Ilya 'Spivak is the head of global macro at Tastylive. He said that gold prices were lower today after the U.S. -...

The gold demand at one of India's most important?buying festival remained muted as record prices curbed jewellery sales, offsetting an increase in investment demand. Indians celebrated Akshaya?Tritiya as the second biggest gold-buying holiday?after Dhanteras. The sharp rise in jewellery prices has curbed demand. "The sharp rise in prices curbed jewellery demand." Gold prices have fallen to a level of $4,861 from a high of $5594.82 on January 29, and now trade at around $4,861. Gold futures for 10 grams in India, which is the second largest gold consumer in the world, closed Friday at 154 609 rupees, or $1 670,...

Police in Chhattisgarh said that at least nine people were killed and 15 others injured by a 'boiler explosion' on Tuesday. The power plant was owned by India’s Vedanta. Cause of explosion is not yet known. The incident occurred at Singhitarai - a town?about 230km?from the state capital of Raipur. P. K. Thakur said that the explosion was probably caused by an overheating boiler tube. The plant is located in Sakti District. Vedanta issued a statement in which it said that an "unfortunate incident" occurred at the Singhitarai Plant and a thorough investigation is being conducted to determine details. The...

The World Steel Association cut its forecast on global 'crude steel demand' for this year. This was partly because of the Iran War, which has slashed Middle East consumption. The industry group reduced its forecast of growth in 2026 steel demand to 0.3%, or 1.72 billion tons. This is down from an earlier forecast in October that was 1.3%. "We expect that the conflict in the Middle East will result in a sharp decline in the region's demand for steel in 2026. This was a strong area for growth," said Alfonso Hidalgo Calcerrada. "We're now transitioning to a modest growth...

Gold prices rose on Friday - and headed for a week's gain - as the U.S. Dollar weakened. Gold spot rose 0.4%, to $4.780.22 an ounce at 11:11 am. ET (1511 GMT). This week, it has gained more than 2%. U.S. Gold Futures dropped 0.3% to $4.805.40. Gold buyers are carefully reclaiming the narrative this week, with higher lows each day. The tentative ceasefire is helping. Tai Wong, an independent metals trader, said that a significant battle is expected ahead of $5,000. A break above this level could re-ignite a bull run. The ceasefire, which has been in place for...

The gold price rose a little bit?on Friday, and is on track for a weekly increase as the U.S. The?dollar weakened after the U.S. - Iran truce. Market participants continue to assess whether it will last and what its implications are for interest rates. As of 9:29 am, spot gold was up 0.3% at $4,778.89 an ounce. ET (1329 GMT). This week, it has gained more than 2%. U.S. Gold Futures dropped 0.3% to $4804.00. The?tentative truce has helped gold buyers to reclaim the narrative. Each day, they are achieving higher lows. "There will be a major battle before $5,000....

Chile will break from 'precedent' and host a panel on lithium at its annual global gathering of copper next week, in an effort to radically diversify its economy beyond the red metal which has been?powering it for decades. On Monday, the World Lithium Conference, organized by the International Lithium Association and the consultancy 'CRU', will launch what the copper industry calls CESCO Week. After months of stagnation, lithium prices have risen to levels not seen in two years as renewed interest in the metal is sparked by concerns about oil supplies in the Middle East. The lithium supply is tightening...

As market participants remained cautious, they awaited more signals on the U.S. - Iran situation and how it would impact global interest rates. By 9:26 am, spot gold had not changed much from $4,669.13 an ounce. ET (1326 GMT), after falling by 1% in the previous session. U.S. Gold Futures increased 0.3% to $4694.20 an ounce. The United States and Iran weighed the outline of a plan on the eve of an U.S. deadline, as Tehran resisted pressure to quickly reopen Strait of Hormuz. Donald Trump, the president of the United States, has warned that he will rain "hell' on...

As the dollar eased, and markets assessed the impact of a proposed ceasefire in the U.S. - Israel war against Iran on oil prices and inflation expectations, gold prices rose in thin European trading. Many markets in Europe were closed for Easter Monday, so spot gold was 0.1% higher than it had been earlier, at $4,678.58 an ounce. U.S. gold futures for June delivery rose 0.6% ?to $4,706 per ounce. Kyle Rodda is a senior financial market analyst for Capital.com. He said: "We saw a gain in headlines about the potential ceasefire." The substance of that statement is questionable. However,...

India's highest court rejected a billionaire Anil. Agarwal's. Vedanta plea on Monday to halt the acquisition of a bankrupt real. estate giant by the. Adani group, which included a $4 billion collection of prized assets. This includes India's one Formula One track. Agarwal Vedanta has filed a lawsuit against a lender's panel's decision to give assets from bankrupt Jaiprakash Associates' group to Gautam Adani. This will lead to a fight between billionaires over assets such as homes, cement plants, and India's only Formula One track. Vedanta’s appeal to the?Supreme Court? was denied as the judges stated that a lower court...

?Gold prices fell on ?Monday, pressured by a stronger ?dollar ?as elevated oil prices on the back of a protracted Iran war and stronger-than-expected U.S. jobs data dampened hopes for interest rate cuts by the Federal Reserve. Spot gold fell 0.9% per ounce to $4631.69 by 0306 GMT. U.S. Gold Futures for April Delivery?lost 0.5 percent to $4657.50. Many markets in Asia, Europe and North America were closed on holiday. Tim Waterer is the chief market analyst at KCM Trade. He said that "the latest robust NFP has reinforced hawkish Central Bank nerves while persistent oil-driven inflation concerns continue to...