GLOBAL CONFLICTS
BRICS Parliamentary Forum: Om Birla says parliaments can ease global tensions, build trust among nations
Om Birla highlighted the essential role parliaments play in fostering cooperation and dialogue among nations. He spoke at the 12th BRICS Parliamentary Forum held in New Delhi. Birla addressed several global challenges including wars, economic instability, and climate change that transcend borders. He emphasized the importance of mutual understanding in reducing tensions and resolving global issues. India became the chair of the forum during the 11th meeting in Brazil.
Ship attacks in Strait of Hormuz hit record high in October
Attacks on commercial shipping in the Strait of Hormuz and nearby waterways reached a record high in October, according to a Washington-based think tank. More than 30 supertankers were damaged since the US-Israeli war with Iran began on February 28, threatening oil shipments and adding pressure to global energy markets.
On Iran war, Trump weighs two options: 'make a deal' or 'finish it off'
US President Donald Trump is weighing a deal with Iran against renewed military strikes, warning that a decision is approaching as Tehran escalates attacks on shipping near the Strait of Hormuz. Washington is reducing personnel in parts of the Middle East, while upcoming US midterm and Israeli elections add political uncertainty.
Global South faces a '4F crisis': EAM Jaishankar calls North to realise equal stakes in finding solutions
Dr S Jaishankar expressed the need for the Global North to recognize its role in addressing the Global South's crises. He identified these crises as finance, fuel, food, and fertilizer, collectively termed the 4F crisis. Jaishankar stated that a prosperous world cannot exist if part of it is denied progress. He urged for diversifying global economic options to mitigate these issues.
Resumption of war with US, Israel won't change Tehran's stance: Iran FM Araghchi
Iran's Foreign Minister Abbas Araghchi reiterated that any renewed conflict with the US and Israel would not shift Iran's policies. Tensions have escalated following threats from the US regarding potential attacks on Iran’s interests. A ceasefire in April ended intense fighting, although sporadic exchanges have since continued. Iran claims control over the strategic Strait of Hormuz, vital for global energy supply routes.
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'War anywhere threatens peace everywhere': EAM Jaishankar calls for global cooperation on UN Day
External Affairs Minister S Jaishankar emphasized that conflicts like those in Ukraine and West Asia impact global peace. He highlighted the interconnected nature of the world due to globalization, which affects societies far removed from the conflicts. He expressed the need for the Global North to acknowledge shared crises faced by the Global South regarding finance, fuel, food, and fertilizers.
‘America’s Nostradamus’ warns of Iran nuclear threat, MBS prophecy, 27-year war, US collapse by 2028 and more chilling predictions
John Hogue, dubbed “America’s Nostradamus,” predicts a possible nuclear conflict involving Iran, a 27-year global war and the collapse of US economic power by 2028. Here’s what he claims about Nostradamus’ Mabus prophecy and rising global tensions.
Iran claims Strait of Hormuz control, warns US warships against entering Persian Gulf amid fresh strike threat
Iran has declared full control over the strategic Strait of Hormuz and warned against US military entry. Meanwhile, US officials hinted at the possibility of an imminent strike on Iran amid ongoing diplomatic efforts. Iranian military leaders have dismissed claims of weakened military capabilities and questioned US assertions about Iran's nuclear facilities. Reports indicate that two supertankers recently experienced accidents in the region, although details remain unverified.
Oil exports from Persian Gulf 'surpassed pre-conflict levels', claims US Treasury Secy Bessent
US Treasury Secretary Scott Bessent announced that oil exports from the Persian Gulf have exceeded pre-conflict levels. This development occurred despite ongoing Iranian threats to disrupt energy shipments to global markets. Iranian state media reported two supertankers struck a naval mine near the crucial Strait of Hormuz. The situation escalated with US Ambassador Tom Barrack indicating a potential military strike against Iran.
Iran-US War: Ahead of US midterm polls, Israel elections day, Donald Trump threatens another likely military operation 'little epic fury' against Tehran
Donald Trump, who has offered shifting goals and timelines for the war, said earlier this month that the US would not launch an attack on Iran before the midterm elections in which control of Congress is up for grab.
RBI flags rising inflation risks from West Asia conflict, El Nino despite resilient Indian economy
India's external sector shows resilience due to a narrowing trade gap and comfortable foreign exchange reserves. Inflationary pressures have intensified due to geopolitical tensions and supply-side bottlenecks. The RBI reported an increase in both industry and services indicators, showcasing economic strength. The IMF has revised India's growth projection for 2026-27 to 7% based on resilient domestic demand. Global financial volatility has increased amid global challenges and rising inflation risks.
'We could take all of the oil in Iran': Trump weighs quick end to Iran war against letting conflict 'wither'
President Donald Trump expressed that the United States has the capability to end the war with Iran quickly. He raised a question about whether it should conclude swiftly or gradually instead. This statement reflects ongoing discussions regarding US foreign policy in the region. The President's remarks come amid rising tensions between the two nations. The implications of the conflict continue to impact international relations significantly.
Inflation stays high, growth slows, central bankers face a bigger challenge, says RBI Guv Malhotra
RBI Governor Sanjay Malhotra highlighted the challenges faced by central banks due to global uncertainties and supply chain issues. He noted the elevated global inflation and lower growth forecasts impacting monetary policy decisions worldwide. India entered this phase with strong macroeconomic fundamentals, maintaining growth at 7.8% despite rising inflation levels. The RBI's goal remains to achieve price stability while ensuring financial market order and health.
Global Market: Japan’s core inflation accelerates, putting BOJ rate hikes in focus
Japan’s core inflation rises to 2.1% in September, exceeding the Bank of Japan’s 2% target for the first time in nine months. Higher energy costs, yen weakness and AI-related demand could strengthen the case for further interest rate hikes.
Oil Price Today (October 23): Crude oil ticks over $114, jumps nearly 8% this week as energy attacks intensify. What are experts saying?
Brent crude futures rose 50 cents, or 0.45%, to $114.02 a barrel, while US West Texas Intermediate (WTI) crude gained 40 cents, or 0.42%, to $100.
'Trade becoming means of weaponisation, sea routes epicenter of geopolitical tension': PM Modi highlights India's role in changing world order
Prime Minister Narendra Modi underscored the evolving nature of international relations. He explained how trade is increasingly being used as a weapon among nations. Modi highlighted that technology has emerged as a new battleground for competition and conflict. Additionally, he pointed out the rising geopolitical tensions affecting global sea routes. These remarks reflect India's acknowledgment of current shifts in the global order.
Indian Army's new warfare doctrine: Rajnath Singh to unveil how the Army plans to tackle threats from China and Pakistan
Defence Minister Rajnath Singh will unveil the Indian Army's new land warfare doctrine, outlining how the force plans to adapt to modern combat involving drones, artificial intelligence, precision strikes and multi-domain operations.
Rupee snaps eight-day rally as oil climbs to highest since May
The Indian rupee ended its eight-session-long winning streak, closing down 0.4% at 94.8175 per dollar. Concerns over escalating oil prices amid the Middle East conflict contributed to global market volatility. Brent oil prices reached $112.40 per barrel, impacting India's economy due to high crude imports. The Reserve Bank of India faced pressure on whether to defend the currency amid these pressures.
Oil Price Today (October 22): Crude oil above $112 as energy infra attacks heighten supply fears. More tension ahead?
Brent crude traded 3% higher at $112.38 a barrel, while US West Texas Intermediate (WTI) crude was trading more than $100 a barrel. Brent had settled largely unchanged on Wednesday, while WTI had eased 67 cents.
'Makes all the sense in the world to talk to them': Rubio on visit to Reliance's Jamnagar refinery
US Secretary of State Marco Rubio is visiting India from October 20 to 22 to discuss energy cooperation. He will visit Reliance Industries' Jamnagar refinery in Gujarat, highlighting its refining capabilities. Rubio stated that energy is directly linked to national security during a media interaction in Mumbai. He expressed concerns about energy disruptions affecting global supply and economic stability.
China signals intent to push back against cleantech tariffs at COP31
China aims for the COP31 summit to discuss new challenges like tariffs on its clean technology. The country emphasizes the need for climate finance for developing nations as a priority at the conference. Officials have raised concerns over unilateralism and protectionism affecting global climate efforts. China also highlights its leadership in producing renewable energy technology such as solar panels and electric cars.
Oil Price Today (October 21): Crude oil crosses $110 amid Middle East supply concerns. What lies ahead?
Brent crude futures jumped more than $1 to trade at around $110 per barrel. WTI Crude futures also gained more than a dollar to trade at around $99 per barrel
China flags APEC's role as key for a challenged global economy
During the opening of the APEC Finance Ministers' meeting in Hong Kong, China's Finance Minister Lan Foan highlighted the importance of the APEC forum for promoting economic cooperation. He urged the 21 member countries to work together in addressing global economic challenges, stressing collaboration in sectors such as artificial intelligence, the digital economy, and green initiatives. Lan reaffirmed China's commitment to broad economic reforms designed to stimulate growth.
HSBC CEO says alternative routes could make Strait of Hormuz 'redundant' in five years
HSBC Group CEO Georges Elhedery on Tuesday said the Gulf region would recover from the impact of the Iran war through investments in alternative logistics routes, potentially making the Strait of Hormuz "redundant" within five years. Speaking in Dubai, he reaffirmed the bank's commitment to the GCC region.
Qatar plans local defence production
The Iran war has dealt a blow to Qatar. The country was forced to shut down much of its main LNG complex at Ras Laffan shortly after the start of hostilities and it suffered from restrictions on global shipping through the strategic Strait of Hormuz.
Opposition's 'low-level acts' reinforce need for PM Modi's leadership: Kangana Ranaut
BJP MP Kangana Ranaut on Sunday criticised Opposition parties over calls for regime change, saying their actions reinforce the need for Prime Minister Narendra Modi's strong leadership. Citing unrest in France and global conflicts, she also condoled the deaths of 19 people in a stampede at a Durga Puja pandal in Kolkata.
International Oil prices to jump 'super spike', claims energy research analyst, predicts global oil rates
International Oil prices: The recovery in Middle Eastern oil exports, higher production outside the Persian Gulf and dwindling demand had narrowed the global supply deficit sharply.
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