Topic
middle east conflict
Commodities Gold Silver Price Outlook: Middle East Conflict and Inflation Data to Drive Prices This Week
Precious metals are expected to remain under pressure this week as investors weigh the US-Iran conflict and upcoming inflation data from the US, India, and the euro area. MCX gold futures declined 2.65% to Rs 1.43 lakh per 10 grams, while silver tumbled 6.2%. Analysts note that a stronger US dollar and higher crude oil prices are weighing on sentiment.
Commodities Middle East conflict forces India to diversify LPG imports as OMCs absorb price shocks
The Middle East conflict prompted India to significantly diversify its LPG imports, reducing dependence on the Gulf from 90% to about one-third from the US. State-run oil marketing companies absorbed much of the global price rise, leading to under-recoveries of nearly Rs 22,000 crore between March and May. LPG consumption fell sharply, especially among commercial and industrial users.
Logistics Middle East Conflict to Cut Airline Profits 10-15% This Fiscal as ATF Costs, Rupee Pressure Bite: Report
A Crisil report warns that Indian airlines' operating profits could drop 10-15% this fiscal year, driven by elevated aviation turbine fuel prices, airspace restrictions, and rupee depreciation stemming from the Middle East conflict. ATF prices remain 50% above pre-conflict levels, and lease costs are rising. The report highlights ongoing pressure despite a government cap on domestic ATF hikes.
Finance Rupee Strengthens as RBI Unveils Measures Amid Middle East Tensions
The Indian rupee appreciated by 50 paise to 95.24 against the US dollar following the RBI's announcement of measures to attract foreign capital. These steps aim to bolster India's balance of payments and support the rupee amid Middle East tensions.