Iran Attacks and Mideast Flights: How Safe Is Air Travel?
GLOBAL NEWS | Sat, 7 Mar 2026, 3:26AM IST
Drone and missile attacks have caused high anxiety across the region, but experts say the danger to commercial airliners is fairly remote.
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A Week of Turmoil Leaves Stocks in Negative Territory for 2026
GLOBAL NEWS | Sat, 7 Mar 2026, 2:35AM IST
Market movements this week had already been choppy as investors weighed the inflationary impact of the conflict in the Middle East. On Friday, the jobs report complicated matters.
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NHAI assures fuel, bitumen supply for developers amid Middle East tensions
INDIA BUSINESS | Sat, 7 Mar 2026, 1:12AM IST
Highway developers received assurances from NHAI regarding essential material supply. The ongoing Middle East conflict raises concerns about rising costs and potential project delays. Developers are urging the government to classify the situation as a Force Majeure event. This would offer protection against revenue shortfalls and extend project timelines. NHAI is monitoring the evolving situation closely.
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INDIA BUSINESS | Sat, 7 Mar 2026, 1:06AM IST
India is increasing fertiliser imports from global suppliers. Shipments are being closely watched to ensure they reach farmers on time for the upcoming kharif season. The government assures adequate stock despite global supply chain issues. Gas supply to fertiliser companies remains a priority. India holds a strong buffer stock, with reserves significantly higher than last year.
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RBI asks banks to give client info on forex deals, positions
INDIA BUSINESS | Sat, 7 Mar 2026, 12:49AM IST
The Reserve Bank of India is gathering information on foreign exchange deals from banks. This move aims to understand if significant bets are being placed against the Indian rupee. The central bank is looking at client transactions and bank positions. This data will help the RBI manage currency fluctuations and make informed decisions to control volatility in the coming days.
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RBI asks banks to give client info on forex deals
INDIA NEWS | Sat, 7 Mar 2026, 12:49AM IST
Mumbai: As the rupee battles global headwinds, the Reserve Bank of India (RBI) has asked several banks to share information on foreign exchange deals and positions which would hint whether large bets are building up against the local currency.On Thursday evening, the central bank asked banks to submit client transactions flows in the spot, forward, and offshore non-deliverable forward (NDF) market. For deals above $10 million, banks would have to give the names of clients and the purpose for the purchase or sell of dollars.Banks would have to also give their respective open positions -- which reflects their speculative positions - as well as the gross buy and sell positions in the inter-bank market."When the Reserve Bank of India collects such data, many banks interpret it as a hint to cut down speculative positions. However, there were no phone calls or instructions from the RBI. At present it has only asked for data," a senior banker told ET. Even if RBI lets the rupee slide, it would want it at a desired pace, he said.The pressure on the rupee can stem from multiple sources: large corporates, driven by a view that the rupee could weaken, buying dollars on anticipated imports - which is over and above their outstanding bills; corporates and large private and MNC banks cutting arbitrage deals - selling in the offshore NDF market and buying forwards in the onshore or local market; and banks increasing trading positions on the strength of their capital and board-approved limits.When the rupee comes under pressure, the dollar typically quotes a little higher in NDF as hedge funds and corporates go long. This triggers arbitrage, and dollar strength spills over to the local market. The NDF trades are on non-convertible currencies with settlement happening in USD."In times like these, the data will help plan and manage currency fluctuations more effectively. RBI can take informed and timely decisions to control volatility in the coming days," said Samir Lodha, managing director of QuantArt, a forex and interest rate advisor.For instance, the gross buy and sale trade details would indicate the level of intra-day activity which is determined by the bank management. When corporates buy dollars forward based on expected imports, it cannot book the gains unless documents of actual imports are subsequently produced. However, if the bet backfires, the company has to absorb the loss - a rule that acts as a deterrent.Over the last six months, the rupee has depreciated from around 88 to nearly 92, closing at 91.74 against the dollar on Friday. The troubled geopolitics, US-Iran war, gold imports, and hears of hardening crude are adding to the pressure from current account deficit and absence of foreign portfolio inflows. Though it intervened, RBI has let the rupee weaken gradually instead of defending a level. This was also a phase when there was uncertainty over the India-US trade agreement. However, after the trade deal materialised, and the market sentiment improved to take the rupee back to 90.10 level, the Middle-East conflict now casts a shadow.In the past few months, thanks to tight liquidity in the local money market, Reserve Bank of India refrained from aggressively intervening in the spot market (as dollar sales absorb rupee liquidity). Instead, it used the forward market, carrying out buy-sell swaps.The fear now is that if geopolitical tensions persist and foreign inflows remain weak, the rupee may remain under pressure. Under the circumstances, a larger pool of information could help the monetary authority act faster.
Continue reading at Economic Times
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Private jets emerge as alternative way out of the Gulf as Iran conflict intensifies
INDIA BUSINESS | Sat, 7 Mar 2026, 12:46AM IST
A new private jet service for pets in Dubai is now overwhelmed with requests from people wanting to leave the UAE. Regional conflict has closed airspace, stranding many. This has caused private jet hire prices to double. The company is adapting to the situation, hoping to resume its original plans soon.
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India may relax cabotage rules amid West Asia shipping crunch
INDIA BUSINESS | Sat, 7 Mar 2026, 12:40AM IST
India might ease cabotage rules for foreign ships carrying domestic cargo. This move is being considered due to a potential shortage of vessels and containers. The West Asia conflict is impacting freight costs and shipping. Authorities are discussing temporary solutions to manage the crisis. Discussions also involve handling stranded cargo and ensuring the safety of Indian vessels.
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Key drug prices may surge on hoarding and higher demand
INDIA BUSINESS | Sat, 7 Mar 2026, 12:34AM IST
Escalating Middle East conflict is expected to increase demand for essential medicines. This surge could lead to higher drug prices, potentially benefiting Indian pharmaceutical manufacturers. Companies are monitoring the situation closely. Increased demand for chronic and acute therapy drugs is anticipated. Indian firms may see export disruptions but also higher overall demand if the conflict extends.
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'Waivers standard practice; precedents in UPA era too': Sources
INDIA BUSINESS | Sat, 7 Mar 2026, 12:33AM IST
India's purchase of Russian crude oil despite Western sanctions echoes past diplomatic waivers. This practice allows nations to secure energy supplies during volatile times. Similar exemptions were previously granted for Iranian oil imports. These waivers demonstrate how major powers prioritize energy security and geopolitical interests, even when sanctions are in place. India has consistently benefited from such diplomatic flexibility.
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Indian refiners hope China taps into oil reserves, freeing global supplies
INDIA BUSINESS | Sat, 7 Mar 2026, 12:30AM IST
The widening conflict in the Gulf region has sharply squeezed global crude supply and sent prices soaring, with Brent topping $89 per barrel on Friday.
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Exporters, shipping cos clash over war surcharge
INDIA BUSINESS | Sat, 7 Mar 2026, 12:26AM IST
Indian fruit and vegetable exporters face a crisis. Shipping lines are imposing hefty war-risk surcharges, even on cargo already at sea. This is causing significant financial strain, with many small exporters fearing bankruptcy. The government is mediating discussions as exporters seek relief from these unexpected charges. Some shipments are being diverted, adding further complications and costs for perishable goods.
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Flights to Europe now cost a bomb
INDIA BUSINESS | Sat, 7 Mar 2026, 12:23AM IST
Flight fares for European routes from India have surged by over 40% week-on-week due to geopolitical developments in the Middle East. Airlines are slashing routes and facing increased operational costs, leading to significant fare hikes and limited availability on key corridors like Dubai and Germany.
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Ship insurance costs triple after US torpedo attack on Iranian warship
INDIA BUSINESS | Sat, 7 Mar 2026, 12:13AM IST
Rates for shipping lines to buyback this cover that usually climb as much as 50% in wartime have instead tripled in some cases - rising to $750,000 per vessel from $250,000, the people said, asking not to be identified because the information is private.
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Ship insurance costs triple after US attack
INDIA NEWS | Sat, 7 Mar 2026, 12:13AM IST
London-based reinsurers of ships are canceling their coverage of war risk and demanding 200% more to reinstate policies, according to people familiar with the matter, after a US submarine sank an Iranian warship off Sri Lanka, amplifying risk perceptions.Rates for shipping lines to buyback this cover that usually climb as much as 50% in wartime have instead tripled in some cases - rising to $750,000 per vessel from $250,000, the people said, asking not to be identified because the information is private.Most policy cancellations have been initiated since Thursday, they said, adding that premiums vary depending on vessel flag, ownership, and ports of call. The US submarine attack in international waters has further triggered a surge in risk premiums for hull and related marine coverage. The Indian Ocean strike, far outside the Middle East war zone, underscored fears that the conflict's impact is widening geographically, the people said.The worsening situation in the Persian Gulf remains the primary concern, said Hitesh Joshi, executive director with additional charge as chairman and managing director at GIC Re. As an immediate impact on the marine war-risk cover, "notices of cancellation are being issued by international marine underwriters," he said. "The restoration of covers is being carefully considered at much higher rates."High-Risk ZonesIf hostilities persist for another 10 days, buyback options may no longer be available, the people said. Limited buybacks outside the Strait of Hormuz are still being offered by some London market insurers, said Balasundaram R, head of marine insurance at Policybazaar for Business.
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Indias solar industry seeks Rs 25,000 crore support for domestic manufacturing
INDIA BUSINESS | Sat, 7 Mar 2026, 12:01AM IST
India's solar industry is pushing for significant government funding to boost domestic manufacturing of solar ingots and wafers. The National Solar Energy Federation of India has requested 20,000-25,000 crore in viability gap funding. This aims to build 50 GW of local capacity. The industry also wants incentives for machinery.
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India tightens tax norms for crypto assets
INDIA NEWS | Fri, 6 Mar 2026, 11:52PM IST
New Delhi: The Central Board of Direct Taxes (CBDT) on Friday notified amendments to the Income-tax Rules, expanding the financial account reporting framework with effect from January 1 to include crypto-assets, central bank digital currencies (CBDCs) and certain electronic money products.The definition of 'financial assets' has been expanded to formally include CBDCs and various electronic money products, along with interest from crypto and crypto related assets, marking a shift toward more comprehensive tax compliance for digital assets.All crypto-asset service providers and certain financial institutions will now be required to report transactions and holdings involving such assets to tax authorities.The definition of 'depository institutions' has been amended to include accounts representing electronic money products or those holding CBDC, and accounts holding CBDC on behalf of customers will be treated similarly to deposit accounts in specific cases.The new rules mandate banks and depositories to track holdings, joint accounts and controlling persons with far greater detail than before.The changes also introduce new conditions for accounts linked to company formation or capital increases, excluding for certain depository accounts with year-end balances below $10,000.Financial institutions must now maintain valid self-certifications and collect taxpayer identification numbers and dates of birth in line with the Prevention of Money-Laundering Act, 2002.This applies to both existing and new accounts, and covers joint account details, controlling persons, equity interests and account types for accounts exceeding $10,000.These rules apply only to non-US accounts-that is, accounts held by residents outside the United States or those not covered under the Foreign Account Tax Compliance Act.
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India tightens tax compliance on crypto and digital assets
INDIA BUSINESS | Fri, 6 Mar 2026, 11:52PM IST
New rules from January 1 will bring crypto-assets, CBDCs, and electronic money under financial account reporting. Service providers and financial institutions must report transactions and holdings. Banks and depositories will track accounts with greater detail. This aims for better tax compliance on digital assets for non-US accounts.
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PB Fintech: Goldman Sachs, Mirae Asset Mutual Fund Biggest Buyers In Rs 695-Crore Block Deal
INDIA MARKET | Fri, 6 Mar 2026, 11:33PM IST
Goldman Sachs bought approximately Rs 101 crore worth of stake
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U.S. Gas Prices Jump Again as Oil Tops $90 for First Time in Years
GLOBAL NEWS | Fri, 6 Mar 2026, 11:33PM IST
The price of a gallon of gasoline hits its highest level in a year and a half on Friday. Surging oil prices suggest that the increases will continue.
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Amazon Layoffs: Tech Giant Cuts Jobs In Robotics Division Here's What We Know
INDIA MARKET | Fri, 6 Mar 2026, 11:33PM IST
These layoffs may be a part of Amazon's ongoing efforts to reduce its workforce after the company's hiring spree
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