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Indian economy, government finances, see mounting costs from Iran war

NEW DELHI, June 9 (Reuters) – A few months ago, India’s economy was humming along nicely. Inflation was benign and growth was steady – the strongest among the world’s leading economies. Now, India is increasingly counting the cost of the Iran war, which ​economists say will keep mounting if the deadlock between the U.S. and Iran remains unresolved and the blockage of oil supplies continues. As the world’s third-largest oil importer and consumer, India ‌ships in about 90% of its oil, making its economy one of the most-exposed to the war and the prolonged war-related disruptions, which include the effective

Israel and Iran trade strikes, threatening to drag the region back into full-scale war

DUBAI, United Arab Emirates, June 8, 2026 (AP) — Israel and Iran traded fire Monday in their first attacks since the U.S. struck a ceasefire with Tehran two months ago. The Iranian military said hours later that it was halting offensive operations as the renewed hostilities threatened to drag the Middle East back into a full-scale war. The U.S. told Iran there would be no more attacks by Israel if Iran halted its missile strikes, and that Israel has agreed to halt attacks for now, according to a regional official who spoke on condition of anonymity because they were not

Gold slips below Rs 1.59 lakh/10g amid fresh West Asia tensions

New Delhi, Jun 8 (PTI) Gold prices fell Rs 1,100 to Rs 1.58 lakh per 10 grams in the national capital on Monday, as investors dumped precious metals amid rising crude oil rates following fresh escalating tensions in West Asia. According to local marketmen, the price of gold of 99.9 per cent purity declined by Rs 1,100 to Rs 1,58,800 per 10 grams (inclusive of all taxes) from Friday’s closing level of Rs 1,59,900 per 10 grams. Silver also remained under intense selling pressure, plunging Rs 5,000 to Rs 2,55,700 per kg, extending losses for the fourth consecutive session. The

India inflation likely rose to 4% in May as food, fuel costs climb: Reuters poll

BENGALURU, June 8 (Reuters) – India’s inflation likely rose ​to the Reserve Bank of India’s medium-term target of 4% in May, driven by a pickup in ‌vegetable prices and higher fuel costs following the U.S. and Israel war against Iran, a Reuters poll of economists showed. Inflation has remained below the RBI’s 4% target for 15 consecutive months. But that benign trend is unlikely to continue, with state-owned fuel retailers raising fuel prices four times in May ​alone, pushing up transport costs, while food inflation continued to rise from last year’s low levels. But, with inflation ​still within target and

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