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US and Iran still far from peace as Gulf clashes test a fragile ceasefire

US and Iran still far from peace as Gulf clashes test a fragile ceasefire

Despite a proposed path to end the war, US and Iran remain locked in rising Gulf tensions after renewed clashes tested a fragile ceasefire. US officials say their intelligence points to Iran’s ability to withstand a naval blockade for months. The UAE has also been targeted, and Washington is still waiting for Iran’s response to the latest offer.

Summarised by Beize from a story on The Economic Times on 9 May 2026
1500 ships trapped in Gulf as Iran blockade tightens reports IMO warning

1500 ships trapped in Gulf as Iran blockade tightens reports IMO warning

The International Maritime Organization says around 1,500 ships carrying about 20,000 crew are trapped in the Gulf after an Iranian blockade in the Strait of Hormuz. The IMO chief described the situation as dire for “innocent sailors” and urged shipping to avoid the region, warning that continued disruptions could worsen casualties and economic losses.

Summarised by Beize from a story on The Economic Times on 8 May 2026

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India to extend export tax refund support to shield exporters from Gulf trade shock

India to extend export tax refund support to shield exporters from Gulf trade shock

India’s government is set to strengthen its export tax refund scheme by extending it for another five years and boosting funding. The move targets exporters hit by geopolitical strain linked to the Middle East crisis and rising shipping costs, aiming to keep trade flows resilient and help Indian companies compete globally despite higher logistical pressures.

Summarised by Beize from a story on The Economic Times on 7 May 2026
Iran says Hormuz open to all but tanker traffic collapses and India faces higher shipping costs

Iran says Hormuz open to all but tanker traffic collapses and India faces higher shipping costs

Iran claims the Strait of Hormuz remains open for all, yet tanker traffic has sharply collapsed. Hundreds of vessels are reportedly idling near the Gulf as insurers and shipowners retreat from the conflict zone, driving shipping costs higher. For India, the statement may sound reassuring, but the economic impact is already showing up in logistics and energy supply risks.

Summarised by Beize from a story on The Economic Times on 24 Apr 2026
World Bank says India has macro buffers to weather Gulf crisis and energy price shock

World Bank says India has macro buffers to weather Gulf crisis and energy price shock

The World Bank projects India’s GDP growth at 6.6% for FY27 and sees an average 7.1% from FY28 to FY29, despite risks from the Gulf conflict. It warns global energy prices could rise, but argues India’s macro strength—bolstered by reserves and low inflation—gives room to absorb shocks. It also stresses private sector growth for jobs and Viksit Bharat goals.

Summarised by Beize from a story on The Economic Times on 24 Apr 2026
Gulf turmoil threatens India remittances as millions abroad face uncertainty and money delays

Gulf turmoil threatens India remittances as millions abroad face uncertainty and money delays

Rising West Asia turmoil is unsettling millions of Indians working abroad, raising fears that remittance inflows to India could fall sharply. Analysts warn a slowdown in money transfers may strain the current account and add pressure to currency health, especially if job security and banking channels remain disrupted amid escalating tensions involving Iran and the US and Israel.

Summarised by Beize from a story on The Economic Times on 24 Apr 2026

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