The Maltese-flagged LNG carrier 'Disha' arrived at Dahej Port, India, carrying 62,370 metric tonnes of LNG. The vessel successfully navigated the Strait of Hormuz amid regional tensions, marking a resumption of shipping traffic through the critical route for India's energy imports.
PM Modi and President Trump will discuss West Asia tensions, the Strait of Hormuz, and a bilateral trade agreement at the G7 Summit. Both nations aim to build a long-term energy partnership amid global supply chain concerns.
Iran's IRGC claimed to target a US military base, while the US announced self-defense strikes on Iranian radar and drone facilities. Kuwait reported drone and missile attacks. Tensions rise amid ongoing ceasefire negotiations.
Indian stock markets, including the Sensex and Nifty, rallied sharply on Monday due to easing geopolitical tensions in West Asia and falling crude oil prices. Optimism around a potential US-Iran deal boosted investor sentiment, leading to significant gains across various sectors, particularly banking.
The BRICS Foreign Ministers' Meeting, chaired by India, begins amid heightened tensions in West Asia, particularly between Iran and the UAE, with consensus on the crisis elusive despite Indian, Russian, and Egyptian efforts. The meeting prepares for the September BRICS summit.
Prime Minister Modi has asked citizens to postpone gold purchases to reduce India's import bill amidst West Asia tensions, sparking concerns among the jewellery industry about business and job impacts.
The Centre increased the 19 kg commercial LPG cylinder price by Rs 993 across India, bringing the cost to Rs 3,071.50 in Delhi. Domestic LPG prices remain unchanged for 33 crore consumers. The price hike affects commercial and bulk LPG cylinders representing less than 1% of total consumption, while approximately 80% of petroleum products saw no price change.
The Indian government has stated there are no plans to increase petrol and diesel prices, assuring citizens of sufficient fuel supplies despite disruptions caused by the West Asia crisis.
