Indian stock markets, Nifty50 and BSE Sensex, fell over 1% due to heightened US-Iran tensions, rising crude oil prices near $97/barrel, and FII outflows. Market cap dropped by Rs 3 lakh crore.
US House approves bill to end Iran war, Trump claims deal possible this weekend. Iran reports no progress in talks, warns of full-scale war if Beirut attacked. Kuwait airport hit by Iranian drones, killing one.
Pakistan announced encouraging progress in mediation efforts to resolve the Iran-US conflict following high-level meetings in Tehran. Army chief Asim Munir met with Iranian President Peseschkian and other officials, discussing peace in the region. Peseschkian expressed openness to a diplomatic solution but voiced deep mistrust towards Washington.
French Minister Sébastien Lecornu addressed the economic consequences of the Iran-US conflict, ruling out tax increases for the 2027 budget and emphasizing the need for sector-specific support until autumn. He acknowledged the public's fatigue but believes people understand the external nature of the crisis.
Russian Ambassador to Pakistan Albert Khorev expressed readiness to assist Pakistan's efforts in resolving the Iran-US conflict, aiming for lasting peace in the Persian Gulf region.
