As tensions rise in the Middle East, US President Donald Trump has suggested that the United States could take control of Iran’s oil, saying he looks at it from a business point of view and that the spoils belong to the “winner”. Speaking at the White House, Trump said, “if I had my choice, I’m a businessman first”, when asked about securing Iranian oil. He further referred to US actions in Venezuela, saying, “If I had my choice. Yeah, cause I’m a businessman first. We are a partner with Venezuela, and we’ve taken hundreds of millions of barrels.” Trump also spoke about the idea of gaining from war. “You know that to the winner belong the spoils. Go for the spoils. I’ve said why don’t we use it to the victor go the spoils. We haven’t had that in this country, probably in a hundred years. We didn’t have it with the Second World War. We helped rebuild all those countries,” he said. He criticised US allies for not supporting Washington in the conflict with Iran. “Japan didn’t help us, Australia didn’t help us, South Korea didn’t help us, and then you get to Nato, Nato didn’t help us,” Trump said. He added, “We’ve got 50,000 soldiers in Japan to protect them from North Korea; we have 45,000 soldiers in South Korea to protect us from Kim Jong Un.” At the same time, Trump praised some Persian Gulf countries. “Saudi Arabia has been excellent, Qatar has been excellent, UAE has been excellent, Bahrain, Kuwait,” he said. Trump also warned that Iran could be “taken out” in a single night, and said this could happen as early as Tuesday. He claimed that US forces have carried out more than 10,000 combat flights and struck over 13,000 targets in the past 37 days. These developments come at a time when the Middle East crisis has stretched into the sixth week, disrupting key energy supplies across the world. The conflict began on February 28, when Israel and US launched joint strikes on Iran, after which Iran choked the crucial Strait of Hormuz, effectively disrupting oil supply flows acorss the globe.

Aviation giant Air India group on Tuesday revised its fuel surcharge across domestic and international routes, as Middle East tensions continued to weigh oil supplies across the globe. The move follows the decision by the ministry of petroleum & natural gas and the ministry of civil aviation to cap the increase in domestic aviation turbine fuel (atf) prices at 25%. For domestic travel, the airline will replace its existing flat surcharge with a distance-linked structure. The revised domestic surcharge will come into effect from 0901 hrs IST on April 8, 2026, and will apply across the group, including Air India Express flights.As per the latest data released by the International Air Transport Association (IATA), the global average jet fuel price nearly doubled within a month, rising from $99.40 per barrel at the end of February to $195.19 for the week ending March 27, 2026.

Here’s how much more you will pay from Wednesday:

On the international front, the airline has introduced steeper revisions, citing the lack of similar price controls on ATF. Effective from 0901 hrs IST on April 8, 2026, passengers flying to SAARC destinations (excluding Bangladesh) will pay a surcharge of $24 per sector. Charges for the Middle East have been set at $50, while routes to China and Southeast Asia (excluding Singapore) will attract $100. The surcharge for Singapore stands at $60, and for Africa at $130.For flights to Europe, including the United Kingdom, the surcharge has been fixed at $205. Meanwhile, passengers travelling to North America and Australia will be charged $280 per sector, with these rates taking effect from 0001 hrs IST on April 10, 2026.

Why Air India introduced the surcharge?

The airline pointed out that the increase is not limited to crude oil prices alone. Refinery margins, referred to as ‘crack spread’, have also surged sharply, climbing from $27.83 per barrel for the week ending February 27 to $81.44 by March 27. This combination has intensified cost pressures for airlines worldwide. Air India stated that even after the revision, the updated international fuel surcharge does not fully offset the rise in fuel costs, and a substantial portion continues to be absorbed by the airline. The airline added that revisions for flights to and from Bangladesh, along with Far East destinations such as Japan, Hong Kong and South Korea, will be announced later, subject to regulatory approvals. Air India clarified that tickets issued before the revised timelines will not be subject to the new surcharge unless passengers make changes to their travel plans that require a recalculation of fares.

Stock market today: Dalal Street opened in red on Tuesday, with benchmark indices slipping 0.9% as oil prices continued to rise and US President Donald Trump’s deadline for Iran nears. While Nifty50 began the day below 22,800, Sensex fell over 800 points in early trade to touch 73,282.41. As of 9:20 am, Nifty50 was trading at 22,765.45, down 202.80 or 0.88%. BSE Sensex made slight recovery, down 694.03 points or 0.94% to 73,412.82.This fall comes after a sharp rebound in the previous session, when both Sensex and Nifty recovered strongly, erasing early losses triggered by rising crude oil prices as tensions continued to intensify in the Middle East. Traders attributed the rise to intense buying in banking and IT stocks, along with a strengthening rupee, that lifted investor’s confidence.During the volatile session on Monday, the 30-share BSE Sensex surged 787.30 points, or 1.07%, to settle at 74,106.85. During intraday trade, it had jumped 887.91 points, or 1.21%, to touch 74,207.46. Market breadth remained firmly positive, with 3,207 stocks advancing, 1,147 declining and 190 remaining unchanged on the BSE.The 50-share NSE Nifty also ended higher, rising 255.15 points, or 1.12%, to close at 22,968.25. Rupee, however, stayed firm on Tuesday, opening at 93.0025 per US dollar, rising 0.06% from its previous close of 93.06 against the greenback.In global markets, oil prices climbed while equities showed a mixed trend as investors assessed Donald Trump’s latest deadline for Iran to reopen the strategic Strait of Hormuz or face being “decimated”.West Texas Intermediate rose 2.6% to $115.34 per barrel, and Brent North Sea crude gained 1.3% to $111.24 per barrel. Across Asia, Tokyo’s Nikkei 225 slipped 0.2% to 53,323.41 in early trade, while Shanghai’s Composite index rose 0.5% to 3,899.09. Hong Kong’s Hang Seng Index remained closed for a holiday.In currency markets, euro weakened to $1.1530 from $1.1543 on Monday, while the pound dipped to $1.3216 from $1.3236. The dollar strengthened against the yen to 159.86 from 159.68. The euro also edged lower against the pound to 87.25 pence from 87.27 pence. In the US, the Dow Jones Industrial Average ended 0.4% higher at 46,669.88, while London markets were closed for a holiday.

Oil prices extended their rally on Tuesday amid rising tensions in the Middle East, as markets remained cautious ahead of Donald Trump’s deadline for Tehran to reopen the Strait of Hormuz. Brent crude futures increased by 57 cents, or 0.5%, to $110.34 a barrel at 1202 GMT, while US West Texas Intermediate crude futures rose by $1.26, or 1.1%, to $113.67.This comes after US President Donald Trump has threatened to rain “hell” on Tehran if it does not comply with his deadline of 8 pm EDT on Tuesday to reopen the strait. “Taken out in one night,” he warned, stating further action would follow if no agreement is reached.Iran, responding to a US proposal conveyed through mediator Pakistan, rejected the idea of a ceasefire, insisting instead that a permanent end to the war was required, Reuters reported. It also pushed back against demands to reopen the waterway.The Strait of Hormuz was effectively closed by Iranian forces after US .and Israeli attacks began on February 28, disrupting a route that typically handles around 20% of global oil flows.Earlier on Monday, Iran’s Revolutionary Guards halted two Qatari liquefied natural gas tankers and instructed them to hold position without explanation, according to sources. Shipping data has indicated limited movement of vessels through the strait since last Thursday.The United Nations Security Council is scheduled to vote on Tuesday on a resolution aimed at protecting commercial shipping in the Strait of Hormuz, though the proposal has been significantly weakened after China opposed any authorisation of force, diplomats said.Tensions in the wider region also continued. Explosions were reported in Damascus and surrounding areas on Tuesday, triggered by the Israeli interception of Iranian missiles, according to Syrian state television.Saudi Arabia said it intercepted and destroyed seven ballistic missiles fired towards its Eastern Region, with debris landing near energy facilities, the defence ministry said.Global crude markets have come under pressure from the conflict, with spot premiums for US WTI crude surging to record levels as refiners in Asia and Europe seek alternative supplies amid disrupted Middle Eastern flows.

New Delhi: In a major change in policy, govt has increased the time allowed for construction of 6-10 km-long bridges across rivers such as Ganga and Brahmaputra to six years and for 2.5-6 km-long bridges on Mahanadi and Godavari to five years. The timelines have been revised from the current 24-30 months.Similarly, the construction period has been fixed at two years for national highway projects costing up to Rs 500 crore, 30 months for Rs 500-1,500 crore projects, and three years for works costing over Rs 1,500 crore.The change in the ‘normative construction period’ has been made after a gap of 13 years, learning from past experience of how the average time taken for completion of NH projects has been over four years against the standard timeline of 2.5-3 years. The revised timeline for construction will be applicable for all NH projects to be bid out from May 6.In a circular, the road transport ministry said present guidelines — issued in 2013 — are derived from a legacy linear model that does not explicitly account for voluminous earthwork, leading to unrealistic construction period and resulting in additional cost and risk.“Therefore, a need was felt to revise the existing guidelines based on scientific analysis, understanding of completed projects, and prescribe a realistic construction period for civil works at DPR and bid invitation stage,” the ministry said. It added that the new norm will improve predictability in completion of projects, reduce disputes, enhance value and quality of NHs, for realistic and bankable bids, better quality outcomes and improved investor confidence.An additional six months time has been provisioned in the new norms for critical projects which involve multiple flyovers, tunnels or elevated structures. Similarly, an addition of 12 months has been provisioned for projects that involve cutting and slope stabilisation in hilly states.

Foreign firms leased a record 9.1 million square feet of office space across India’s top nine cities during the January-March quarter to set up Global Capability Centres (GCCs), highlighting strong demand for workspaces, PTI reported citing CBRE data.Real estate consultant CBRE said total gross leasing of office space rose 5% to 20.7 million square feet in the quarter, compared with 19.7 million square feet in the year-ago period.The nine cities covered in the report include Mumbai, Delhi-NCR, Bengaluru, Hyderabad, Chennai, Pune, Kolkata, Ahmedabad and Kochi.Leasing for GCCs stood at a record 9.1 million square feet in the March quarter, the highest ever for any quarter.“The record GCC leasing activity is a definitive signal of India’s position as the global destination of choice for high-complexity capability functions,” said Anshuman Magazine, Chairman & CEO, India, South-East Asia, Middle East & Africa, CBRE.He added that demand is broad-based across sectors such as e-commerce, technology and BFSI.“The demand is increasingly being driven by mid-market and nano GCCs alongside established Fortune 500 occupiers,” Magazine said.According to CBRE, American firms accounted for 73% of the total GCC leasing during the quarter.Ram Chandnani, Managing Director, Leasing Services, India, CBRE, said occupiers are increasingly preferring green-certified and amenity-rich office spaces.“As occupiers adopt AI-ready workspace strategies and GCCs evolve into multi-functional innovation hubs, we expect leasing momentum to remain healthy through 2026,” he said.Bengaluru led office leasing activity with a 29% share, followed by Delhi-NCR at 22% and Mumbai at 16%.Together, these three cities accounted for around 67% of the total office leasing across the nine cities during the January-March period, the consultant said.

The rupee appreciated by 28 paise to close at 92.90 against the US dollar on Monday, supported by the Reserve Bank’s measures aimed at curbing speculative activity and reducing volatility, PTI reported.Forex traders said that while the RBI’s actions are positive for the currency, continued foreign fund outflows, a firm dollar and elevated crude oil prices amid geopolitical tensions are exerting pressure on the rupee.The RBI has tightened rules to curb speculative positions and capped banks’ net open positions at $100 million.At the interbank foreign exchange market, the rupee opened at 93.13 and strengthened to an intraday high of 92.79 against the greenback before settling at 92.90, up 28 paise from the previous close.On Thursday, the domestic currency had posted one of its sharpest gains in years, rising 152 paise to close at 93.18 after the RBI introduced a series of measures to restrict banks from onshore forward markets.Equity and forex markets remained closed on Friday on account of Good Friday.Geopolitical tensions continue to weigh on the rupee, with US President Donald Trump escalating pressure on Iran and setting a deadline to reopen the Strait of Hormuz, failing which the US could target its power infrastructure.Meanwhile, the dollar index, which measures the greenback against a basket of six currencies, was down 0.15% at 99.87.Brent crude, the global oil benchmark, was trading 1.61% lower at $107.29 per barrel in futures trade, as investors tracked developments around the Strait of Hormuz.According to forex traders, the USD/INR pair may see short-term appreciation, though the broader trend will continue to be influenced by global dollar liquidity, crude oil movements and geopolitical developments.On the domestic equity front, the Sensex rose 787.30 points to close at 74,106.85, while the Nifty gained 255.15 points to end at 22,968.25.Foreign institutional investors sold equities worth Rs 8,167.17 crore on a net basis on Monday, as per exchange data.India’s forex reserves declined by $10.288 billion to $688.058 billion for the week ended March 27, the RBI said. In the previous week, reserves had dropped by $11.413 billion to $698.346 billion.On the macroeconomic front, India’s services sector growth eased to a 14-month low in March, reflecting slower new business inflows.The seasonally adjusted HSBC India Services PMI Business Activity Index fell to 57.5 in March from 58.1 in February, marking the weakest expansion in activity since January 2025.

Mumbai : Bank earnings in FY26 are set to shift from margin-led gains to volume-driven growth, even as funding pressures intensify with banks increasingly tapping costly wholesale sources to sustain credit expansion. According to data released by RBI, system-level advances grew 13.8% as of March 15, outpacing deposit growth of 10.8%, widening the gap between loans and liabilities. This divergence has intensified competition for funds, pushing banks to rely more on high-cost certificates of deposit, whose issuances have surged to record levels.A report by Systematix Research noted that the credit-deposit ratio has risen to around 83% in March from 81.7% in Dec 2025. This has forced banks to depend on wholesale funds. The report added that fresh certificate of deposit issuances jumped 46% year-on-year during the quarter, reflecting growing funding pressure.Banks’ business updates released over the weekend reinforce this trend, with most banks reporting faster credit growth than deposit accretion. The only exceptions were HDFC Bank and Yes Bank, where deposit growth exceeded loan expansion. Bank of India, Kotak Mahindra Bank and Yes Bank posted double-digit balance sheet growth in FY26, while IndusInd Bank reported contraction, highlighting divergent funding strategies and balance sheet adjustments across lenders.

The strong double-digit credit growth reflects continued economic momentum, with retail, agriculture and MSME segments driving loan demand. Bank of India reported global advances rising 15.7% year-on-year to Rs 7,70,566 crore, while deposits grew 13.6% to Rs 9,27,460 crore, pushing its credit-deposit ratio to 83.1% from about 81.6% a year earlier. Kotak Mahindra Bank saw net advances increase 16.2% to Rs 4,95,892 crore and deposits rise 14.7% to Rs 5,72,457 crore, with its credit-deposit ratio inching up to 86.6% from around 85.5%.Yes Bank stood out with stronger deposit mobilisation, as deposits grew 12.1% to Rs 3,18,970 crore, outpacing loan growth of 10.7% to Rs 2,72,454 crore.