INDIA MIDDLE EAST EUROPE ECONOMIC CORRIDOR
Italy's ITA Airways to expand direct flights to India, Thailand amid Mideast war
Italian flagship airline ITA Airways said Tuesday it was increasing direct flights to India and Thailand this August, as the Iran war disrupts routes through the Middle East. "In a phase where the geopolitical landscape makes the ability to reach Asia through direct and reliable connections even more valuable, the increase in frequencies to Delhi and Bangkok in August 2026 is a concrete sign of confidence in the market and in ITA Airways' ability to respond quickly to passenger demand, while ensuring continuity and quality of service," Eberhart said.
From Paris to Phuket: The new logic guiding Indian summer travel
Indian summer travel plans are shifting. Due to Middle East tensions and rising airfares, long-haul trips to Europe and the US are being replaced by domestic holidays and closer Asian destinations. Travel companies report a clear preference change. Destinations like Goa and Phuket are gaining popularity over traditional European itineraries.
FedEx completes India's first intra-city drone delivery flight trials in Bengaluru
FedEx has successfully completed India's first intra-city drone delivery flight trials in Bengaluru, in collaboration with IIT-Madras. These trials, conducted under the FedEx SMART Centre research framework, demonstrated a significant reduction in transit time, cutting a 60-minute road journey to just 21 minutes via a 39-42 km aerial route.
India faces inflation spillover risks from Middle East conflict: RBI
The Reserve Bank of India has issued a cautionary statement regarding escalating inflation rates. Tensions in the Middle East are causing significant disruptions in global supply chains and energy sectors, potentially embedding price volatility within the economy. Instead of slashing demand, the bank aims to guide expectations judiciously.
GIFT Nifty up 85 points; here's the trading setup for today's session
Benchmark indices ended flat as India VIX surged 10%, signaling near-term volatility. Markets are expected to consolidate, influenced by geopolitical developments. Immediate support for the index is seen at 56,200-56,300, with resistance at 57,200.
Gujarati travellers cut back on travel plans amid geopolitical uncertainty, expected market volatility
Gujarati travelers are pausing travel plans. Uncertainty from the US-Israel-Iran conflict and stock market dips are causing caution. Advance bookings for summer trips are down significantly. Many are considering alternative destinations. This trend is impacting hotels and event planners. Experts believe this is a temporary phase for this buoyant travel community.
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Tehran says restrictions on Iranian oil come with a price
Iran's top official warned global fuel prices will remain unstable unless pressure on its oil exports ceases. He stated a free oil market is essential for everyone's security. Oil prices surged as tensions between Iran and the US disrupted tanker traffic in the Strait of Hormuz.
War crisis revives stagflation dangers for global economy
Global business surveys this week will reveal the escalating impact of seven weeks of Middle East conflict on growth and inflation. Initial data from Australia to the US is expected to show deterioration, particularly in Europe, raising concerns about potential stagflation. Policymakers are cautiously awaiting these figures to inform interest rate decisions.
Ericsson India revenue grows 29% to Rs 4,228 crore in March quarter
Swedish telecom firm Ericsson saw a significant 29 percent revenue jump in India for the quarter ending March 31, 2026. This growth was fueled by ongoing 5G rollouts and network upgrades across the country. India emerged as a key contributor to Ericsson's global performance, showcasing strong market momentum.
IMF, World Bank meetings show limits in mitigating shocks, reliance on US for solutions
Global finance leaders met amid Middle East war news. They acknowledged their limited ability to counter economic damage from frequent geopolitical shocks. Reliance on U.S. leadership for crisis resolution is no longer assured. The IMF and World Bank pledged aid to developing nations. Officials expressed frustration with ongoing economic calamities.
Charting the Global Economy: IMF trims world growth projections
The International Monetary Fund has lowered its global growth forecast for 2026. This adjustment comes as the war in the Middle East has caused a significant oil price shock. The IMF also anticipates higher inflation due to rising energy and food costs.
Sri Lanka sees drop in tourist arrivals in March due to West Asia war
Sri Lanka's tourist arrivals saw a significant drop in March, falling to 183,979 from over 277,000 in January and February. This decline is largely attributed to the ongoing conflict in the Middle East disrupting transit hubs and travel plans. India remains the largest inbound market, showing resilience due to proximity and direct flights.
A $176 billion reality check for Europe’s luxury brands as Middle East tensions hit shoppers
A distant war is impacting global luxury sales. Europe's top luxury firms have lost billions in market value. The Middle East, a key growth market, is seeing reduced tourist spending due to travel disruptions and uncertainty. This slowdown affects major brands like Hermès, Gucci, and LVMH. Recovery for the luxury sector faces delays as geopolitical risks persist.
France, UK to lead 'defensive' force for Hormuz
France and Britain will spearhead a multinational mission for safe passage in the Strait of Hormuz. This defensive force will deploy only after regional peace is secured. The initiative aims to reassure commercial shipping and support mine clearance operations. Several nations have pledged contributions.
Asia relying on US crude to replace Middle East supply
Asian fuel makers are turning to US crude oil. This shift is driven by disruptions in Middle Eastern supply. Countries like Japan and South Korea are buying more American oil. This is impacting global oil flows. The situation threatens to cause fuel shortages. US oil exports are reaching record levels. This trend is expected to continue.
Cathay Pacific extends suspension of Dubai, Riyadh passenger, cargo services
Cathay Pacific has extended its flight suspensions to Dubai and Riyadh until the end of June. This decision impacts passenger and cargo services. The airline is consolidating some flights and adjusting capacity. Despite these cuts, Cathay Pacific anticipates strong cargo demand on long-haul routes. Passenger demand is also expected to remain robust through April, supported by holidays.
West Asia conflict hits tourism, aviation: PHD Chamber of Commerce and Industry flags 15-20%
The ongoing conflict in West Asia is casting a long shadow over India's tourism and aviation sectors. Tourist arrivals have plummeted, prompting airlines to alter their routes, which in turn raises both fares and journey durations. The hospitality industry is feeling the strain as well, with many restaurants shutting down and significant losses reported.
A ₹18,000 crore blow seen for India's aviation story as West Asia conflict clips wings
India's aviation and tourism sectors are currently navigating turbulent skies due to the unrest in West Asia. Airlines are challenged with heightened expenses and prolonged flight durations, significantly impacting international travel. The inbound tourism sector is seeing a downturn as Indian travelers prefer more brief vacations abroad.
Global Markets | European shares inch higher on Middle East peace prospects; earnings in focus
European shares edged higher on Thursday as growing optimism about a potential resolution to the Middle East conflict lifted market sentiment, while investors assessed corporate earnings reports across the region.
Geopolitical tensions cripple India-Middle East trade in March
India's trade with the Middle East saw a significant drop in March. Exports and imports fell by over 50 percent. This decline resulted from disruptions caused by the US-Israel attack on Iran. The Strait of Hormuz, a vital shipping route, faced temporary closure. This impacted shipments of gems, jewellery, engineering goods, and rice.
IMF cuts eurozone full-year growth forecast to 1.1%
The International Monetary Fund on Tuesday cut its growth forecast for the eurozone to 1.1 percent this year due to the "negative impact" of the war in the Middle East. Outside the eurozone, Britain's economy is now expected to expand by 0.8 percent this year, a sharp reduction from the 1.3 percent growth the IMF forecast at the beginning of the year. mpa/js/rl
IMF cuts China 2026 economic growth forecast to 4.4%
The IMF on Tuesday lowered its forecast for Chinese economic growth this year to 4.4 percent, despite reduced US tariffs and stimulus measures aimed at mitigating the impact of the Middle East conflict. The Washington-based organisation said "lower US effective tariff rates on Chinese goods, and stimulus measures offset the negative impact of the shock induced by the Middle East conflict" on the world's second-largest economy.
Air India asks Tata, Singapore Air for funds after $2.4 billion loss
Air India reported a wider-than-expected annual loss of over ₹220 billion ($2.4 billion) for FY26, driven by multiple disruptions including a fatal aircraft crash, airspace restrictions, and geopolitical tensions. The airline is now seeking fresh funding from its shareholders, including Tata Group and Singapore Airlines, though the final amount is still under discussion.
Rajasthan highway modernisation project gets $225 million World Bank boost, to benefit 3 million people
The World Bank has approved a USD 225 million loan for Rajasthan's highway modernization. This project will benefit over 3 million people by improving road efficiency, resilience, and safety. It aims to upgrade about 800 km of highways, making them safer and climate-resilient.
Basmati rice exports hit by Hormuz crisis; 4 lakh tonnes of cargo stranded right now: Abhishek Govilkar
The Strait of Hormuz crisis has severely impacted India's basmati rice exports to the Middle East, stranding four lakh tonnes of cargo and collapsing vessel traffic by over 90%. Freight charges have surged, and the heavy reliance on the Middle East makes finding alternative markets difficult, exposing a significant concentration risk for Indian agri-exports.
India's economic growth journey huge opportunity for international partners: Vinay Mohan Kwatra
India's economic growth presents a significant opportunity for international partners, with the US being a central and consequential ally, Ambassador Vinay Mohan Kwatra stated. He emphasized the transformative phase of India's economic and societal evolution, highlighting the strength of the India-US partnership across various sectors and its role in navigating global shifts.
British Airways cuts Middle East flights, shifts capacity to Asia and Africa
British Airways is significantly altering its Middle East routes due to escalating regional tensions. Flights to Dubai, Doha, and Tel Aviv will be reduced to one daily service from July 1, with Riyadh also seeing a cut. Jeddah will be permanently dropped.
US-Iran ceasefire may stabilise travel routes, but will airfares follow?
A recent US-Iran ceasefire promises to normalize international flight routes from India, easing disruptions via Gulf hubs. While flight paths stabilize, travelers face continued elevated airfares due to accumulated costs like higher fuel prices and longer routings. Airlines prioritize operational recovery before fare adjustments, suggesting a gradual, not immediate, price drop.
Gulf countries planning new oil routes, including one backed by PM Narendra Modi, to bypass Strait of Hormuz: Report
Gulf planning new pipeline to bypass Hormuz: Gulf countries are exploring new oil transport routes to bypass the Strait of Hormuz due to growing concerns over potential disruptions linked to Iran. Officials and industry leaders believe alternative pipelines and transport links are crucial for securing steady exports from the region.
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