RED SEA DISRUPTIONS
Saudi Aramco Q3 profit jumps 34.5% to $36.25 billion despite ongoing US-Iran conflict
Saudi Aramco reported a 34.5% year-on-year rise in third-quarter net profit to $36.25 billion, beating analyst estimates. Higher oil prices and the exit from a joint venture supported earnings, helping offset production disruptions and security risks amid the US-Iran conflict.
Quad ministers pledge over $85 million for AI access, flag economic coercion and supply chain risks
Quad foreign ministers meeting in Atlanta reaffirmed their commitment to a free and open Indo-Pacific, focusing on economic security, resilient supply chains and trusted infrastructure. They announced plans to provide over $85 million in technical and financial assistance for access to trusted super intelligence (SI), while pledging action against cyber scams and transnational criminal networks.
India's FTAs to open new export opportunities as country eyes $1 trillion milestone: IIFT VC
India's trade deficit is likely to persist as long as the country remains dependent on oil imports, although rising exports of value-added petroleum products are helping narrow the gap, K. Rangarajan, Vice-Chancellor of the Indian Institute of Foreign Trade (IIFT), said on Friday.
'No major threat exists': Cyclone Arnab weakens over Odisha; Rayagada stays on high alert
Heavy rainfall eased in Odisha's Rayagada district as Cyclone Arnab weakened, though authorities remained on high alert over possible further showers. The cyclone caused widespread damage in Andhra Pradesh, inundating crops across more than 70,000 hectares and uprooting trees.
22 Indians, including 14 seafarers, killed in West Asia conflict, MEA says
Amidst the turmoil in West Asia, the loss of twenty-two Indian nationals, including 14 seafarers, has come to light, with three fatalities reported in Saudi Arabia per the Ministry of External Affairs. This conflict intensified after US and Israel's aggressive maneuvers against Iran began in February. India emphasizes the necessity of dialogue for peace, as the recent Houthi attacks threaten both regional stability and vital maritime lanes.
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Andhra Pradesh Weather Today: Cyclone Arnab brings heavy rain, strong winds, thunderstorms; check forecast for Visakhapatnam, Kakinada and more
Cyclone Arnab affects Andhra Pradesh with heavy rainfall and strong winds. Coastal districts like Kakinada and Visakhapatnam are expected to experience severe weather conditions as well. Authorities have reported disruptions to daily life, including uprooted trees and damaged power lines. Residents are advised to stay cautious and follow safety advisories during the cyclone's impact.
Oil Price Today (October 28): Crude oil at $116 as Saudi Arabian refinery comes under attack $120 in sight?
Crude oil price : Oil prices have risen due to an attack on Saudi Arabia's largest oil refinery by Yemen's Houthis. Concerns regarding supply disruptions have intensified amid ongoing conflict in the Middle East. The missile strike and previous Houthi attacks on oil facilities have affected Saudi operations. Analysts project varying future trends for oil prices based on potential disruptions and geopolitical developments. The situation continues to evolve, impacting market expectations and production strategies.
Houthis attack Saudi Arabia’s Ras Tanura refinery amid $1 billion ceasefire offer reports
Yemen's Iran-aligned Houthis claimed responsibility for an attack on Saudi Arabia's Ras Tanura oil refinery. A fire occurred near the facility, which was quickly contained by Saudi authorities. This refinery is crucial for Saudi crude oil exports and global oil markets. Saudi Arabia intercepted multiple ballistic missiles targeting the eastern region of the kingdom. The ongoing conflict has led to repeated attacks on Saudi energy infrastructure over recent weeks.
Cyclone Arnab Tracker live: When and where will the very severe cyclonic storm make the landfall and how strong will it be?
Severe cyclone Arnab is expected to cross the Andhra Pradesh and Yanam coast on October 28, bringing strong winds, heavy rain and a possible storm surge. Authorities have shifted more than 1,300 pregnant women to hospitals, cancelled flights and stepped up railway monitoring. West Bengal, Odisha and Jharkhand have also issued weather alerts or evacuation preparations ahead of the storm’s wider impact.
Weather today: Andhra Pradesh, Telangana receive heavy rainfall alert as Cyclone Arnab intensifies; check latest IMD update
Weather today, 27 October: IMD has warned of heavy to extremely heavy rainfall across several states as Cyclone Arnab intensifies over the Bay of Bengal. Andhra Pradesh and Yanam face red alerts, with winds potentially reaching 140 kmph. Odisha and Telangana are also forecast to receive intense rainfall, while Delhi-NCR is likely to remain largely dry today.
Oil Price Today (October 27): Crude oil below $115 amid peace talk hopes but attacks continue. What are experts saying?
Crude oil price : Oil prices have experienced a decline as diplomatic discussions aimed at easing tensions have taken place. Brent crude futures fell while West Texas Intermediate crude saw a slight drop as well. Ongoing attacks by Iran-aligned groups hinder the prospects of regional stability and heightened concerns about supply disruptions. Analysts anticipate potential supply shocks, which could significantly influence future oil prices.
India woos South Korean marine equipment makers as shipbuilding grows
Union Minister Sarbananda Sonowal highlighted the need for ambitious and universal maritime standards during the World Maritime Day roundtable. He stressed the importance of partnerships that facilitate the implementation of these standards among countries. Sonowal's discussions with the Korea Marine Equipment Association outlined collaborative opportunities in India's shipbuilding sector. Korea's involvement will focus on technology transfer and local manufacturing of marine equipment.
Egypt approves military support for Saudi Arabia after Houthi attacks escalate
Egypt's parliament has approved military support for Saudi Arabia as conflicts with the Houthis escalate. This decision follows President Abdel Fattah al-Sisi's request to defend Saudi territory if needed. Cairo's involvement may include limited ground support while avoiding an attack on Yemen itself. The Houthis have intensified attacks, threatening Saudi infrastructure and increasing regional tensions. Egyptian officials advocate for diplomatic solutions alongside military preparedness to ensure stability.
Cyclone Arnab to hit east coast on October 28, IMD warns of winds up to 140 kmph; Andhra identifies 5.7 lakh people for evacuation, Odisha shuts schools
Cyclone Arnab is projected to strengthen into a very severe cyclonic storm before reaching Andhra Pradesh. The India Meteorological Department has reported maximum winds of 115-125 kmph, with gusts up to 140 kmph. Authorities in Andhra Pradesh and Odisha are enhancing preparedness for the impending storm's impact. Chief Ministers have directed local administrations to coordinate efforts and establish control rooms.
Oil Price Today (October 26): Crude oil at $115, retreats from 6-month high despite lingering concerns. What are experts saying?
US crude futures declined $1.82, or 2%, to $101.48 a barrel, while Brent crude futures dropped $1.50, or 1.72%, to $115 a barrel. Both benchmarks had settled nearly $3 higher on Friday following Houthi attacks in Saudi Arabia that heightened concerns over energy supplies. Brent gained 6% over the week, while US West Texas Intermediate (WTI) rose 2.3%.
Explosions heard in Saudi capital Riyadh as airport due to reopen
Explosions were reported in Riyadh on Sunday, coinciding with the reopening of its international airport. This reopening followed a two-week closure due to repeated Houthi strikes targeting the area. The Houthis have warned that the airport remains a military target, issuing alerts to airlines and travelers. Additionally, the Saudi-led coalition intercepted Houthi missiles aimed at Riyadh and nearby regions.
Houthis say Saudi strikes kill 11 after missiles intercepted
Saudi airstrikes in the Yemeni capital Sanaa reportedly killed 11 civilians amid recent escalations. Houthi forces have intensified missile attacks targeting Saudi cities, raising security concerns across the region. The Saudi-led coalition claimed to have intercepted two incoming Houthi missiles aimed at Taif and Yanbu. As tensions rise, foreign diplomats are being evacuated from Saudi Arabia due to the increasing threat.
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.
Why did market fall today? Sensex, Nifty end the week in deep red. 4 key factors behind sharp selloff
The Indian stock market has witnessed losses for four consecutive sessions due to multiple factors. Oil prices have surged to $114 per barrel following geopolitical tensions in the Middle East. Foreign institutional investors are actively selling Indian equities, leading to further market declines. Broader market indices such as Nifty Smallcap 100 and Nifty Midcap 100 are underperforming sharply.
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.
Oil little changed as supply concern lingers amid Houthi attacks on Saudi Arabia
Oil prices showed minimal movement as Brent crude futures dipped slightly. In light of intensifying Houthi attacks impacting oil supply, Saudi Aramco has temporarily evacuated its headquarters. Libya's production has faced cuts following the closure of a key oil pipeline. Amid these challenges, Russia expressed a willingness to continue talks with Ukraine, contributing to the recent volatility seen in global energy markets.
Here’s why Marco Rubio is visiting Jamnagar, the small Indian city with world’s largest oil-refining complex
U.S. Secretary of State Marco Rubio is visiting Jamnagar, India, to discuss energy cooperation with Reliance Industries. His discussions will focus on processing Venezuelan oil amid ongoing international energy challenges. The Jamnagar refinery has significant capacity and could help stabilize global supply chains. Rubio's meeting with Mukesh Ambani highlights the strategic energy ties between the U.S. and India.
Houthi rebels strike a government military camp in southern Yemen, killing at least 53 fighters
A deadly missile strike by Iranian-backed Houthi rebels targeted a military camp in southern Yemen, causing at least 53 soldiers to lose their lives and injuring around 200 others. This attack signifies a troubling resurgence of violence, breaking the fragile ceasefire established in 2022. The situation has worsened with increased airstrikes, prompting the Saudi-led coalition to launch military operations to counter Houthi advances and restore stability.
Lightstorm’s India-Southeast Asia subsea cable system to be ready in 2029, says CTO
Lightstorm is a network provider that builds high-capacity optical fibre and AI-native connectivity platforms across the APAC region. The I-2SEA cable system, announced in July this year, will connect India’s east coast with Singapore and Malaysia. It will land at South Chennai and Machilipatnam in India, and at Singapore and Morib in Malaysia.
Oil Price Today (October 19): Crude oil dips 2% to $108 after hitting its highest levels since May. Here’s why
Brent crude futures dropped $1.80, or 1.64%, to $108.06 a barrel after settling at their highest level since May 19 on Friday. US West Texas Intermediate crude declined 53 cents, or 0.52%, to $100.88 a barrel.
Nepal floods 'defining moment' for climate action: UN
The country suffered one of the worst disasters in its history on August 26, when a mountain collapse near the China border triggered catastrophic floods that killed more than 1,400 people and left over 5,000 missing.
Brent crude oil prices hit $110 for first time since May as Iran attacks continue, Ukraine eyes Russia energy infra
Brent crude surpassed $110 per barrel as escalating attacks around the Strait of Hormuz and renewed Russia-Ukraine hostilities heightened global supply concerns. WTI also surged, recording weekly gains above 10%. Goldman Sachs warned prices could reach $120 if shipping disruptions worsen, while easing tensions could bring crude towards $80.
Houthis are helping Iran turn Saudi Arabia into a pressure point: Here's how
Houthi attacks on Saudi Arabia are increasing, disrupting investments and key infrastructure. The Houthis are seeking recognition and an end to restrictions in Yemen. Iran is supporting the Houthis while targeting Saudi vulnerabilities to pressure the US. Saudi leadership faces a dilemma of escalating military actions or making concessions to the Houthis. The ongoing conflict complicates regional stability and security in the Arabian Peninsula.
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