The Economic Times

West Asia War: War between United States, Israel and Iran escalates. United States strikes Iran's oil export hub. Iran expands missile campaign across the region. Conflict widens beyond original battlefield. Gulf states are drawn in. Energy infrastructure is threatened. Thousands have been killed and millions displaced. The war is increasingly centered on strategic energy routes.

A TAFE campus in NSW was placed on lockdown after a 16-year-old girl was seen with a water pistol, mistaken for a real firearm. Police responded to the incident, which stemmed from a viral TikTok game called Senior Assassin. Authorities are now warning that such games can be perceived as real threats, leading to serious police responses.

China's Foreign Minister Wang Yi has called for calm and dialogue between Afghanistan and Pakistan. He stressed that force will only worsen the situation. This comes after Pakistan bombed a fuel depot near Kandahar airport. Wang Yi also discussed the situation in Iran with his Afghan counterpart. Beijing is ready to work with the international community for peace in Iran.

The US State Department offered a USD 10 million reward on Friday for information on Iran's new leader, Mojtaba Khamenei. Amid rising regional conflict, President Donald Trump claimed Iran is about to surrender and asserted he had got rid of a cancer via military operations.

America is set to release oil from its strategic reserves. Early deliveries are expected by next week. This move aims to tackle rising energy prices. The release is part of a loan system. Companies will return extra barrels as a premium. This initiative is at no cost to taxpayers. It is a global effort with the International Energy Agency.

US-Israeli strikes killed Iran's leader but have not toppled the government, which now, from its perch on the Strait of Hormuz, has put the entire world economy on the war's frontlines. The government quickly put in place a new supreme leader, while its decentralised mosaic defence allowed the military to retaliate without losing much of a step.

Iran's military has warned of retaliation against oil companies linked to the US if its energy infrastructure is targeted. This comes after US forces struck military sites on Kharg Island, a vital oil export hub. Tensions are escalating around the Strait of Hormuz, a key global oil route.

A vehicular homicide charge against Jayden Ryan Wallace, 18, has been dropped. This follows the tragic death of high school teacher Jason Hughes during a late-night prank. The victim's family requested the charges be dismissed. Wallace and four other teenagers were involved in the incident. Hughes died after being struck by a pickup truck.

For the first time, the United States and Israel are fighting a war together, marking a major shift in their decades-long alliance. Earlier U.S. administrations had avoided direct military cooperation with Israel in conflicts, fearing backlash from Arab countries and wider regional tensions.

Is Jeffrey Epstein alive and living in Florida? A viral video from Florida shows a man in a convertible who looks like Jeffrey Epstein. Social media users claim it could be Epstein. Fact checks say Epstein died in jail in 2019. The video has revived conspiracy debates online again.

India and Iran leaders held successful talks on West Asia's security. Iran's representative stated Iran did not start the war but will defend its land. Indian leaders, including the External Affairs Minister and Prime Minister, have engaged in multiple conversations with Iranian counterparts. Discussions focused on regional stability, shipping safety, and energy security.

The U.S. Department of Commerce has withdrawn a proposed rule on AI chip exports that had been sent for inter-agency review in late February, without giving a reason. The plan, titled AI Action Plan Implementation, aimed to regulate global access to AI chips and reportedly considered requiring foreign countries to invest in U.S. data centres or provide security guarantees to receive large shipments.

American forces are increasing their presence in the Middle East with the deployment of Marines and an assault ship. Meanwhile, a large explosion occurred in Tehran during a state-organized rally. Iran continues missile and drone attacks on Israel and Gulf states. The conflict has impacted global oil trade and caused a humanitarian crisis in Lebanon.

Due to the rising war tensions in the Middle East region between Iran, the US, and Israel, an atmosphere of concern has developed among Indians living in that region. Passengers who arrived at Kempegowda International Airport in Bengaluru from Abu Dhabi said that the situation in the UAE was comparatively better than in Kuwait and Bahrain.

India Inc's factory operations face disruption due to commercial LPG rationing. The Gulf war's impact on supplies is affecting manufacturing processes and even canteen menus. Companies are switching to electric cooking equipment and offering simpler meals to workers. This situation presents daily challenges for manufacturers across the country.

Vodafone Idea is actively engaging with various investors, notably ST Telemedia and JSW Group, to explore a potential equity partnership. Following a recent financial boost from the Indian government, the company is eager to attract strategic backers who can provide much-needed capital for its ambitious 5G rollout.

In the wake of the Gulf War, India is grappling with a shortage of LPG cylinders. However, the government remains steadfast, promising ample cooking fuel supplies and advocating for a transition to piped natural gas wherever feasible. Meanwhile, domestic LPG production has surged, and measures are being taken to ensure the safety of Indian seafarers navigating the Gulf waters.

Film producers are grappling with soaring costs for star entourages. These expenses now represent 10-12% of production budgets for big films, a significant jump from previous years. Actors' demands for personal staff, coaches, and companions are increasing. This trend, exacerbated by changes in streaming platform funding, is straining film finances and impacting profitability.

India's Finance Minister Nirmala Sitharaman revealed a Rs 1 lakh crore Economic Stabilisation Fund. This fund will help the government manage external economic challenges. The minister assured Parliament that the fiscal deficit target will be met. Additional funds are allocated for defence, rural employment, and fertiliser subsidies. This proactive measure aims to protect farmers and the economy from global disruptions.

The United States has initiated a trade probe into sixty nations, including India, China, the EU, UK, and Japan. This investigation scrutinizes policies regarding goods made with forced labor. The US Trade Representative's office is seeking consultations and will hold public hearings. This move follows a separate probe into excess industrial capacity.

Why has US attacked Kharg Island, where is it located, and why is it very important for Iran? The strike was announced by Donald Trump. US forces targeted military sites on Kharg Island. The island handles most Iran oil exports. The move follows tension in the Strait of Hormuz and global energy concerns.

US preparing for a surprise ground offensive like Venezuela in Iran, and how to get $10 million reward for info on Iran new Supreme Leader Mojtaba Khamenei? The US is sending 2,500 Marines and naval ships to the Middle East while offering a reward for intelligence on Iranian leaders.

Social Security rule for retirees explained: A new law, the Social Security Fairness Act, is boosting benefits for public sector workers. This change removes penalties for those with pensions from jobs not paying into Social Security. Millions are already receiving retroactive payments. Retirees with public pensions should check their Social Security accounts for potential extra money in 2026.

Cuba has embarked on a pivotal conversation with the U.S. government, as President Miguel Diaz-Canel has announced that their talks are focused on mending strained relations. Amidst a critical economic downturn highlighted by frequent power outages and fuel shortages, Cuba is striving for greater energy self-sufficiency.

Why is silver price down by 3.3% and gold by 0.5%, and will precious metals continue to drop or rise again? Gold and silver prices moved lower this week as the dollar gained strength and interest rate cut expectations weakened due to inflation data and geopolitical tensions.

Indian exporters navigate the complexities of European Union regulations, which pose considerable hurdles. Fortunately, the RoDTEP scheme has emerged as a beacon of hope, granting significant relief to over 110,000 exporters.

Social Security Taxes 2026: Over 67 million Americans receive Social Security benefits, yet many retirees do not know up to 85% of their Social Security income can be taxed in 2026. The IRS uses a formula called combined income to decide the taxable share. If income crosses $34,000 for singles or $44,000 for couples, taxes apply. Rising COLA increases, interest income, and retirement withdrawals are quietly pushing more retirees above these long-frozen IRS thresholds.

After nearly two weeks of war, 2,000 people have been killed, most of them in Iran, but many also in Lebanon and a growing number in the Gulf, which has for the first time in decades of Middle East conflicts found itself on the front line. Several million people have been displaced from their homes. As Israeli warplanes pounded Beirut's suburbs with air strikes, Lebanon's interior minister said authorities were unable to accommodate the hundreds of thousands of people who have sought refuge in t

Scientists said substituting LPG with DME would not require changes to existing infrastructure, including cylinders, gaskets, regulators, hoses or burners. DME can also be used independently with stoves specifically designed for it.

India's coal mining industry is celebrating a historic achievement, as FY26 sees both captive and commercial mines producing over 200 million tonnes of coal. This impressive figure not only breaks last year's record but does so with considerable time to spare in the fiscal calendar.

India's trade pact with the U.S. stands firm, safeguarding critical areas such as agriculture and dairy. This collaboration promises mutual advantages, enhancing technology access while propelling India towards its goal of becoming a global data hub. Additionally, the India-UK free trade agreement is anticipated to launch within a month, following a quick ratification by the UK Parliament.

Nothing, a London-based smartphone maker, is now exporting its devices from India to the United States. The company plans to expand India's role as an export hub for its global operations. This move signifies a significant step for Nothing's manufacturing strategy. Their sub-brand CMF will also localize wearable production in India starting in 2025.

India's civil aviation ministry said on Friday it is closely monitoring the evolving situation in the West Asia region and its impact on air travel between India and countries in the region, as airlines adjust operations to ensure passenger safety and continuity of services.

Banks are in the process of signing final documents in the KEPL case, while in the case of BLA, too, there was no one who turned up in the Swiss auction. But Friday is the last day for declaration of the successful applicant, which will be announced by the end of business hours, said a person familiar with the details.

The US had permitted India on March 5 to purchase sanctioned seaborne Russian volumes to ease global supply pressure caused by the Iran war. It has now extended the same benefit to other countries.

India's telecom regulator, TRAI, is taking steps to combat spam calls. New proposals include charging businesses for commercial calls. Telecom companies will also be allowed to use AI for detecting and acting against spammers. Entities using automated calling systems must declare their use. TRAI is also strengthening rules on customer consent for promotional messages and calls.

The Indian steel industry faces significant challenges as the ongoing conflict in West Asia drives up the prices of vital resources like limestone. Concurrently, a wave of inexpensive steel is poised to enter the market, posing a serious threat to local manufacturers. Steel companies are urgently appealing to the government for assistance in navigating this turbulent landscape.

Industry body Society of Indian Automobile Manufacturers (SIAM) has told the Centre that supply uncertainties linked to the ongoing Iran war could disrupt the availability of TGU, which is essential for producing DEF required to operate these vehicles.

Heineken sees India as a major growth opportunity for beer. The company is increasing its focus on the Indian market, believing changing social attitudes and rising incomes will boost demand. While acknowledging challenges like regulations and taxes, Heineken aims to professionalize the beer category. This strategic move positions India as a key market for the global brewer's future expansion.

Fitch Ratings has recently upgraded its economic outlook for India, now projecting a vigorous growth rate of 7.5 percent for FY26, driven by a surge in domestic demand. They've also adjusted their FY27 estimates upwards. While there are hints of a slowdown, the overarching economic resilience remains intact, with credit growth consistently in double digits.

The movement in reserves comes at a time when the Indian rupee has been experiencing heightened volatility, with the currency recently touching record lows against the US dollar. The pressure on the rupee has been partly linked to the ongoing geopolitical tensions stemming from the US-Israel-Iran war, which have contributed to instability in global energy markets.

Indian automobile sales surged in February, marking the highest ever for the month. Passenger vehicles, two-wheelers, and three-wheelers recorded double-digit growth. This robust performance follows recent GST reductions. The industry anticipates continued demand in March. However, ongoing West Asia conflict poses potential supply chain and export challenges. Manufacturers are monitoring geopolitical developments closely.

IDBI Bank sale: An outright cancellation of the strategic sale of IDBI will make it harder for the government to realise its FY27 disinvestment and asset monetisation target of 80,000 crore. At Friday's share price on the BSE, the sale of a 30.48% stake in IDBI Bank could fetch the government about 30,215 crore.

Under the programme, Haryana will expand its air-quality monitoring network and develop a decision-support system to improve the use of data in pollution management and policy formulation.The programme also aims to mobilise about $127 million in private capital for investments across sectors such as transport, energy and industry.

Prime Minister Narendra Modi, addressing a programme in Guwahati, criticized Congress for spreading rumors amidst global economic crises. He highlighted the BJP government's efforts to strengthen India's energy infrastructure and reduce fuel dependence, alongside significant farm support and subsidies to shield farmers from international shocks.

Regional Indian cuisines are expanding nationwide, but maintaining authentic taste across new outlets presents a challenge. Technology is now crucial, with digital recipe systems, central kitchens, and automation ensuring consistent quality and flavour. This integration of tradition and tech allows diverse culinary heritage to reach a wider audience without compromising authenticity.