Economy

The US and Israeli war on Iran has led to a virtual halt in shipments through the Strait of Hormuz, where 20% of global oil typically transits.

ECB policymakers would be ready to raiseinterest rates as soon as their next meeting should fallout from the war in Iran push inflation too far above target, according to people familiar with the situation.

Refiners are are awaiting government directives and clarity from America on the nitty-gritties of the authorisation.

The on-going Iran conflict will navigate through its fourth week and determine key market movements in the coming week.

A severe cooking gas crisis has pushed a fifth of Indian households to the black market. Delivery delays and fraudulent SMS notifications are rapidly surging.

In a statement on Friday, the Treasury outlined that the allowance is valid till April 19.

Waller, who dissented against the Fed's decision in January to stay on hold — at the time citing continued softness in the labor market — said he would have dissented again this week, but the Iran war gave him pause.

Currently, the liquidity in the banking system is estimated to be in surplus of around Rs 16,875.36 crore.

The MFIs' lending to small borrowers has to be done at a cost of 1% below the average rate of their lending in the last six months.

While addressing a press conference on Friday, the Chairman added that such services will also be made available offline.

The decline comes amid a slump in crude oil output, which fell by 5.2%. Its cumulative index declined by 2.5% during April to February, 2025-26 over corresponding period of the previous year.

The disruption is particularly affecting processing units and downstream production of key chemicals such as propylene, isopropyl alcohol and acetone, which rely heavily on LPG and its derivatives.

The assessment also indicates that wholesale price index-based inflation could climb 0.3-0.7%, while exports may face a 2-4% impact due to weakening global demand and logistics hurdles.

Exporters say freight rates to Gulf markets have doubled in recent weeks, driven by higher war risk premiums, vessel re-routing, and container shortages.

The Indian delegation will be led by Commerce Minister Piyush Goyal along with the Commerce Secretary Rajesh Agrawal, sources said.

On the trade policy front, India is looking at key milestones in its free trade agreement (FTA) pipeline. The proposed agreement with the United Kingdom could enter into force by end-April or early May, the sources said.

If elevated oil prices persist, the brokerage warns of a potential 3040% earnings correction, in line with past periods of prolonged demand slowdown and cost pressures.

In India's technology services sector, one of the largest in the world, AI has quickly become a core part of engineering, testing, and delivery workflows.

India still relies on coal-generated electricity for about two thirds of its power consumption, a dependence it's trying to ease by adding more renewables into the grid.

For Europe, in particular, the escalation comes at a tricky time as the region is emerging from winter with storage tanks depleted.