The Times of India

Amidst Middle East geopolitical tensions, India is bolstering energy security by exploring alternative sources, with Australia and Canada offering additional gas supplies. The nation's diversified import routes, with only 40% of crude passing through the Strait of Hormuz, ensure stable energy availability despite disruptions.

Global oil prices have surged dramatically this week. The ongoing conflict involving Iran has intensified, raising fears of prolonged energy supply disruptions from the Middle East. Key energy routes and facilities are disrupted. This has pushed oil and gas prices higher across global markets. Consumers and businesses are facing rising fuel costs.

The US has granted India a temporary waiver to purchase Russian oil stranded at sea, aiming to stabilise global supplies amid West Asian conflict disruptions. This move, praised by US Treasury Secretary Scott Bessent, allows India to ease short-term supply pressures while maintaining its commitment to reducing sanctioned Russian oil imports.

Emirates NBD is waiving ATM withdrawal fees across the UAE and GCC until March 31, 2026, to ease financial access amid regional disruptions. This move also includes free debit card replacements and delivery, offering crucial support to stranded travelers and residents navigating travel uncertainties. The initiative aims to ensure uninterrupted access to funds during a turbulent period.

The Indian rupee weakened against the dollar, closing at 91.75 on Friday, influenced by rising crude oil prices and foreign investor withdrawals. Despite central bank intervention and domestic stock market declines, losses were somewhat contained. Analysts anticipate continued pressure on the rupee due to firm crude prices, with a trading range of 91.25-92.50 expected.

The Indian government will utilize all policy tools and export promotion missions to support exporters facing disruptions in West Asia. Commerce Minister Piyush Goyal assured daily engagement with exporters through an inter-ministerial group to address concerns like higher freight rates and shipping delays. India remains committed to meeting international buyer commitments, reinforcing its reputation as a trusted global partner.

India's strong foreign exchange reserves and low deficits provide a buffer against rising oil prices, ensuring energy security. However, a prolonged West Asia crisis could impact the rupee and inflation. Despite this, the economy is well-positioned for growth, with GDP projected at 7.0-7.4% for FY27, though global uncertainties persist.

Indian ports are offering relief to cargo ships stranded due to West Asian conflict. The Shipping Ministry has directed major ports to consider reducing or waiving charges like storage rent and reefer plugging. Ports will also facilitate transshipment, domestic return of export cargo, and priority handling for perishables, aiming to prevent congestion and container shortages.

Shipping lobby and an oil company have requested security escorts for vessels navigating the Strait of Hormuz and suggested alternative ports like Yanbu to ensure uninterrupted energy and commodity flow. Companies also urged the government to waive demurrage charges for stuck cargo. The Indian Navy's role in ensuring maritime security was also discussed.

While women constitute a significant portion of the IT workforce, a notable gap persists in their representation among top dealmakers. However, a growing number of women leaders are now emerging as key figures driving multi-million and billion-dollar deals, reshaping the sector's traditional narrative.

India's medtech sector is poised for growth with the launch of MedArtha Capital, a Rs 1,000 crore fund. Spearheaded by industry veterans, it aims to back 10-12 high-growth companies, boosting 'Make in India' and reducing import reliance. The government may invest Rs 500 crore, supporting innovation in critical medical devices.

RBI's 25K Compensation To Be Applicable Only For One Time Gross Loss Up To 50K

Indian stock markets experienced a significant downturn on Friday, with the Sensex plummeting nearly 1,100 points to close below 79,000 for the first time since April 2025. Deteriorating geopolitical tensions in West Asia and global market conditions, coupled with substantial foreign fund outflows, led the decline. Banks were particularly affected as investors adopted a risk-off approach.

Dubai's luxury property market has achieved a significant milestone with a Dh422 million apartment sale. This record-breaking deal underscores the sector's strength despite ongoing regional geopolitical tensions amid Iran-US-Israel war. Global investors continue to view Dubai as a secure destination for wealth preservation. The emirate's appeal is fuelled by its strategic location, luxury lifestyle and investment security.

Domestic cooking gas prices are set to rise from Saturday, with a 14.2-kg LPG cylinder increasing by Rs 60 nationwide. Commercial cylinders will also see a Rs 115 hike. This marks the first significant domestic LPG price change since April 2025. Despite global energy concerns, the government assures comfortable energy supply and diversified import sources.

The US has granted India a temporary waiver to buy Russian oil, aiming to stabilize global prices amid Middle East supply disruptions. This short-term measure allows India to access millions of barrels of Russian crude currently at sea, easing immediate pressure on refineries worldwide.

Noida International Airport in Jewar has secured its aerodrome licence from the DGCA. This crucial step brings the airport closer to commencing flight operations. All necessary infrastructure is in place. The airport is set to be inaugurated by Prime Minister Narendra Modi. Commercial flights will begin after final security programme approval.

The United Arab Emirates, particularly Dubai, serves as a major hub for refining and exporting gold to buyers across Asia. It also acts as a transit point for shipments arriving from Switzerland, the United Kingdom and several African countries.

German media conglomerate Axel Springer has announced its intention to acquire the UK's Telegraph Media Group for 575 million, a deal subject to regulatory approval. Axel Springer, owner of POLITICO, aims to enhance the right-leaning publication's reach and intellectual influence globally. The company emphasized shared values with The Telegraph, while UK authorities confirmed they will assess the proposed transaction.

Shipping data compiled by Bloomberg shows that roughly 15 million barrels of Russian oil are currently held on tankers in the Arabian Sea and the Bay of Bengal. In addition, vessels carrying about 7 million barrels are anchored near Singapore.

Australia has doubled the Temporary Graduate Visa fee to AU$4,600, impacting international students seeking post-study work. This hike, alongside rising student visa costs and living expenses, makes Australia's offerings significantly more expensive than competitors like Canada and the UK. Experts warn this could deter prospective students weighing their investment.

The Indian Rupee saw a slight gain against the US Dollar. This happened after the United States granted a 30-day waiver. Indian refiners can now buy Russian oil. This decision aims to ease global energy supply pressures. The move comes amid ongoing West Asia conflict. Domestic equity markets faced pressure. Foreign funds also withdrew from Indian markets.

China now leads the world with 1,110 billionaires, surpassing the United States, according to the Hurun Global Rich List. The nation added 287 new billionaires, largely driven by AI, semiconductors, and healthcare, showcasing rapid wealth creation and a significant shift in global economic power.

Around two-thirds of Indias LPG demand is met through imports, with the Middle East accounting for roughly 85 to 90 per cent of those supplies. Oil refiners have been told to maximise LPG output by ensuring that the propane and butane available with them are fully utilised for cooking gas production, the report said.

Gold price prediction today: Gold prices are volatile with any dips allowing investors to buy, says Jateen Trivedi, VP Research Analyst - Commodity and Currency, LKP Securities.

Around 90% of Indias crude oil is imported - and around 40-50% of Indias crude oil imports come from the Middle East, particularly after it substantially reduced purchases of Russian crude oil.

West Asia conflict has grounded thousands of flights across the Middle East, stranding passengers and forcing airlines to reroute or cancel services. Major carriers like Air France, British Airways, and Cathay Pacific have suspended routes. While some Gulf airlines are resuming limited operations, Indian carriers are adding flights to manage demand and repatriation efforts.

President Trump downplayed concerns over rising gasoline prices due to the Iran conflict, prioritizing military action. While oil markets reacted sharply, he asserted prices would drop post-conflict. White House officials are exploring measures to counter price hikes, though the President ruled out tapping the Strategic Petroleum Reserve for now.

The Strait of Hormuz, a vital shipping lane, is now a vulnerable point for undersea internet cables due to escalating West Asian tensions. Disruptions have halted crucial repair operations, impacting internet traffic and India's data center ambitions. This geopolitical flashpoint challenges previous perceptions of the route's safety.

Stock market today: After a relief rally on Thursday, Nifty50 and BSE Sensex opened in red on Friday on weak global cues amid escalating Middle East tensions. While Nifty50 went below 24,650, BSE Sensex was down over 500 points.

Jefferies downgraded L&T's target price due to West Asia exposure, while BoFA Securities maintained a buy on AB Capital, citing strong growth in lending and housing finance. Goldman Sachs issued a sell on Sun Pharmaceuticals, highlighting innovative medicines as a key driver, and Kotak Institutional Equities kept an add rating on Bajaj Finance, emphasizing its structural transformation.