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    Oil prices soar as Iran names new supreme leader and digs in
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March 9, 2026
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Force majeure invoked for oil shipments, suspending contractual delivery obligations amid Gulf supply disruptions and transit risks.
Military attacks and leadership developments in Iran have impaired Gulf oil and gas production and shipping, prompting a national oil company to invoke force majeure to suspend contractual shipment obligations due to extraordinary damage and security risks; resulting export curtailments, tanker transit disruptions through the Strait of Hormuz, and filled storage have reduced available supply, while governments consider reserve releases and impose regulatory measures against hoarding to stabilize markets and protect energy security.
March 9, 2026
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Fuel price freeze maintained as government directs companies to absorb costs and boosts LPG allocation to prevent shortages.
Government sources say retail petrol and diesel prices will not be raised immediately; oil marketing companies are expected to absorb current cost pressures. The state reports adequate crude and fuel stocks for six to eight weeks, has increased the minimum domestic LPG refill booking gap from 21 to 25 days to prevent hoarding, and has directed refineries to maximise LPG production while monitoring global energy developments and recalibrating allocations to maintain supply chain stability.
March 9, 2026
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Cognisance under PMLA: challenge to requirement of FIR for scheduled offences may determine prosecutorial scope.
The ED challenges a trial court ruling that refused cognisance of its PMLA prosecution because the alleged scheduled offence arose from a private complaint rather than an FIR, arguing that denying prosecution on that basis improperly shields alleged money launderers; the Delhi High Court has listed the ED's appeal for hearing and notices were issued to the accused and related entities concerning alleged usurpation of Associated Journals Limited's assets by Young Indian.
March 9, 2026
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Consumer financing: pre approved EMI and Easy EMI Loan options enable instant in store purchases of eco friendly refrigerators.
Bajaj Finserv's Summer Sale provides pre approved consumer financing and Easy EMI Loan options enabling instant, in store purchase of eco friendly refrigerators with flexible tenors, conditional zero down payment, and partner store availability; promotional prices, EMIs and offers vary by model, store and location. Bajaj Finance Limited is disclosed as an RBI registered deposit taking NBFC classified as an NBFC Investment and Credit Company, with cited credit and deposit ratings and a disclaimer limiting the news agency's editorial responsibility.
March 9, 2026
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Force majeure declarations amid Middle East conflict trigger supply disruptions and spur talks of releasing strategic oil reserves.
Attacks on production and shipping linked to the Iran conflict have reduced exports and prompted a national oil company to declare force majeure, relieving contractual obligations during extraordinary disruption. Some producers have cut output as storage fills, while major consuming states are considering coordinated releases of strategic petroleum reserves and domestic measures to prevent hoarding and price collusion to stabilize markets.
March 9, 2026
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Limiting customer liability in digital transactions expanded to cover more fraud and introduce a temporary compensation mechanism.
RBI has published draft Amendment Directions to broaden the scope of limits on customer liability in digital transactions to include additional fraudulent electronic banking transactions, mandate faster bank processing of fraud complaints, and establish a temporary compensation mechanism for small-value frauds subject to a one-year review aimed at shifting more compensation responsibility to banks.
March 9, 2026
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Provincial development priorities: prioritize industry technology integration and service sector modernization under the new five year plan.
Guangdong sets strategic provincial development priorities for the 15th Five-Year Plan, prioritizing industry technology integration and the cultivation of large-scale industrial clusters in fields such as 6G, embodied artificial intelligence, and quantum technology. Simultaneously, the province will accelerate high-quality service sector development through six strategic dimensions-integration, high-end advancement, digital intelligence, green development, internationalization, and diversification-by expanding investment, building world-class industrial parks, and creating diverse platforms while inviting external participants and talent to engage in provincial opportunities.
March 9, 2026
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Wealth management platform expansion strengthens bank's direct advisory franchise while maintaining strategic collaboration with existing partner.
Federal Bank launched Fed Wealth and a Wealth Hub to develop an in house wealth franchise offering fixed income, equities, mutual funds, alternatives and GIFT City solutions, and will establish specialised Wealth Hubs for private advisory and virtual consultations. The Bank restructured its arrangement with Equirus Capital to align product and service architecture for affluent and UHNI clients while ensuring uninterrupted service for existing Equirus customers, retaining a minority stake in Equirus and continuing targeted collaboration to offer select Equirus products to UHNI clients.
March 9, 2026
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Oil supply disruption drives crude price surge and market volatility amid Middle East conflict, threatening shipping and energy inflation.
Crude oil prices surged as the Iran war damaged energy infrastructure and disrupted shipping through the Strait of Hormuz, constraining exports and prompting production cuts by regional producers. Attacks on depots and transfer terminals, reduced tanker traffic, and filling storage tanks tightened physical supply, fueling market volatility, higher fuel and natural gas prices, and inflationary pressures. Discussions of strategic petroleum reserve releases and official assurances were cited as potential mitigating measures against persistent disruptions.
March 9, 2026
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Oil supply disruption drives crude prices up, threatening global inflation and straining markets and fuel costs.
Crude oil prices surged after the Iran war disrupted production and maritime transit through the Strait of Hormuz, impeding tanker movement and prompting output cuts by producers as storage tanks filled. Attacks on oil and gas facilities and depots further reduced exports, transmitting supply shocks into elevated crude and natural gas prices, higher retail fuel costs, intensified market volatility, and upward pressure on inflation, with major buyers potentially seeking alternative suppliers.
March 9, 2026
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Export Obligation extension grants automatic relief for advance and EPCG authorisations, no application or fee required.
Automatic extension of the Export Obligation (EO) period is provided for specified Advance Authorisations and EPCG Authorisations, without requiring separate applications or payment of composition fees, operating alongside existing Foreign Trade Policy and Handbook of Procedures provisions; DGFT regional authorities will verify EO compliance at the time of issuance of Export Obligation Discharge Certificates, closure, or regularisation, and Customs have been informed to permit exports consistent with the revised EO timeline.
March 9, 2026
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Technological self-sufficiency drives China's industrial policy, prompting state-led subsidies and supply-chain strategies to counter foreign tech restrictions.
China's 2026 and five-year plans combine near-term focus on expanding domestic demand with a strategic push for technological self-sufficiency. The state will deploy industrial policy and sizeable subsidies to accelerate breakthroughs in AI, semiconductors, batteries, biotech, 6G, electric vehicles and commercial aviation, seeking supply-chain resilience in response to foreign technology restrictions, while acknowledging risks of manufacturing oversupply and international trade tensions.
March 9, 2026
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Energy supply disruption raises oil prices and fuels market volatility with implications for fuel costs and economic risk.
Oil prices rose above one hundred dollars per barrel after conflict involving Iran disrupted production and shipping through the Persian Gulf, reducing tanker transits via the Strait of Hormuz, prompting production cuts and storage fill-ups among regional producers, and following attacks on oil and gas facilities that tightened global crude availability and heightened market volatility.
March 8, 2026
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Sanctions waiver allows delivery of Russian-origin crude already loaded, enabling refiners to secure alternate supplies amid shipping disruptions.
A temporary sanctions waiver permitting sale and delivery of Russian-origin crude loaded prior to the cutoff enables Indian refiners to accept in transit Russian cargoes without breaching sanctions; refiners are also sourcing additional supplies from non-conflict regions, maintaining processing rates and using onshore and strategic reserves to preserve inventory coverage while facing higher freight, insurance and commodity price risks.
March 7, 2026
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Trade preference: India secured preferential market access under a bilateral framework with the US, affecting tariffs and procurement.
A bilateral trade framework with the US sets reciprocal tariff adjustments and market-access commitments, with India agreeing to reduce or eliminate tariffs on a broad set of US industrial and agricultural products and declaring procurement commitments for US goods; final legalisation is pending after changes in US tariff policy and postponement of negotiators' talks.
March 7, 2026
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Illicit export of controlled drug by mislabelling and forged customs papers exposed, forensic testing confirmed substance.
Three individuals were arrested for exporting etomidate by mislabelling consignments as aloe vera powder and a personal care ingredient, using forged customs documents and air cargo from Mumbai; Raman spectrography confirmed etomidate, the suspects admitted contacts with overseas drug-cartel members, and shipments were bound for jurisdictions where etomidate is treated as a controlled or prohibited substance.
March 7, 2026
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Government emergency power to direct refineries ensures LPG supply while domestic cooking gas prices rise.
Domestic cooking gas prices were raised significantly and commercial LPG rates were increased separately; state differentials reflect local tax incidence. The rise was linked to global energy price spikes and supply disruptions through the Strait of Hormuz. The government invoked emergency powers to direct refineries to boost LPG production and indicated petrol and diesel prices will not be raised immediately because state oil companies can absorb short term cost pressures.
March 7, 2026
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Port facilitation measures urged to permit charge waivers and operational steps to manage disruption from West Asia crisis.
The Ministry's Standard Operating Procedure requires each port to appoint a nodal officer as single point of contact to secure timely action and mandates that ports consider, case by case and depending on circumstances, requests for reduction, waiver or remission of charges including storage rent and change of vessel charge; permit storage of Middle East bound cargo as transshipment cargo; allot additional storage; facilitate ad hoc berthing and expedited return movement of export cargo; prioritise perishable cargo handling; and coordinate with Customs and DGFT for implementation.
March 7, 2026
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Export obligation relief extends EO for specified advance and EPCG authorisations without composition fee to aid exporters facing shipping disruptions.
The DGFT has automatically extended the export obligation period, block-wise, for specified advance authorisations and EPCG authorisations expiring between March and May, until August 31, 2026, without payment of the composition fee, supplementing existing foreign trade policy extension mechanisms to assist exporters affected by shipping and supply-chain disruptions.
March 7, 2026
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Vehicle smuggling exposed; arrests follow forged registrations and alleged official complicity, customs pursue custody.
A cross border smuggling scheme brought high end used vehicles from Bhutan into India without payment of Customs duties, re registering them using forged documents; Customs' "Operation Numkhor," aided by state police, led to arrests, seizures and a planned court application for custody to further investigate alleged organiser conduct including involvement of a District Transport Officer and duplicate registrations identified by the auditor.

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March 27, 2026

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New Delhi, Mar 27 (PTI) Following are the top stories at 5.10 pm: TOP STORIES DEL34 BIZ-3RDLD PETROL-EXCISE CUT (3.38 PM) Govt cuts excise duty on petrol, diesel; slaps windfall tax on fuel exports New Delhi: The government has slashed excise duty on petrol and diesel by Rs 10 per litre, averting a pump price hike that had become necessary because of soaring global oil prices.

FGN34 NEPAL-BALEN-2NDLD OATH (4.56 PM) Rapper-turned-politician 'Balen' sworn in as Nepal's 47th PM Kathmandu: Rapper-turned-politician Balendra Shah 'Balen,' took oath as Nepal's democratically elected prime minister on Friday, around six months after the K P Sharma Oli-led government was ousted in a Gen-Z protest that shook the nation. By Shirish B Pradhan LGD8 UP-HC-LIVE IN RELATIONSHIP (4.45 PM) Live-in relationship between married man, consenting adult woman not a crime: Allahabad HC Prayagraj: The Allahabad High Court has said that a married man living in a consensual live-in relationship with an adult woman does not amount to a criminal offence under law.

NATION DEL28 PM-NEPAL-BALEN (1.56 PM) Modi congratulates Balendra Shah on becoming Nepal's new PM New Delhi: Prime Minister Narendra Modi on Friday congratulated Balendra Shah 'Balen' on being sworn in as Nepal's new prime minister, saying that he looks forward to working closely with him to deepen India-Nepal ties for the mutual benefit of both nations.

DEL26 ED-RELIANCE-CHARGESHEET (1.23 PM) ED to file chargesheet in Rs 40,000 crore loan 'fraud' involving ex-RCOM president New Delhi: The Enforcement Directorate may on Friday file a chargesheet as part of its money laundering probe into an alleged Rs 40,000 crore loan fraud involving Reliance Group chairman Anil Ambani's group company RCOM and its past executives, official sources said.

DEL35 CONG-EXCISE-3RDLD FUEL (3.36 PM) Excise duty cut on petrol-diesel due to assembly polls: Congress slams govt New Delhi: The Congress on Friday alleged that the government's excise cuts on petrol and diesel were because of assembly elections and pointed out that consumer prices in India were not reduced even when global crude oil prices fell on seven different occasions in the past 12 years.

PAR15 LS-SULE-CRASH (4.08 PM) Supriya Sule raises Ajit Pawar plane crash in LS, seeks time-bound probe New Delhi: NCP-SP leader Supriya Sule on Friday demanded a time-bound probe into the plane crash that killed former Maharashtra Deputy Chief Minister Ajit Pawar and criticised the state government for not filing an FIR in the matter.

DEL45 DEF-CONTRACTS (4.20 PM) Govt inks twin defence deals worth Rs 858 crore New Delhi: The defence ministry on Friday signed a Rs 445 crore contract with Russia's Rosoboronexport for procurement of an air defence missile system for the Indian Army.

DEL27 DL-SONIA GANDHI-HOSPITAL (1.23 PM) Sonia Gandhi's health shows improvement, will be discharged from hospital soon: Doctors New Delhi: Senior Congress leader Sonia Gandhi's health is showing steady improvement, and she will be discharged from the hospital within one to two days, her doctors said on Friday.

CAL20 WB-POLLS-ABHISHEK (4.43 PM) Modi govt may hike fuel prices after assembly polls: Abhishek Banerjee Kolkata: Senior Trinamool Congress leader Abhishek Banerjee on Friday said there is a strong possibility that the BJP-led central government will increase the prices of cooking gas and transport fuel after the assembly elections are over on April 29.

CAL19 WB-MAMATA-LPG (4.38 PM) LPG cylinders produced in Bengal should not be sent outside: Mamata Kolkata: West Bengal Chief Minister Mamata Banerjee on Friday reiterated her demand that cooking gas produced in the state should not be diverted elsewhere in the country, citing concerns over a perceived LPG shortage amidst the ongoing West Asia conflict.

MDS16 TN-POLLS-AIADMK-LIST (4.01 PM) AIADMK announces second list of party candidates for Apr 23 TN Assembly polls Chennai: The Opposition AIADMK in Tamil Nadu on Friday announced the second list of its party candidates for the April 23 Assembly election, retaining some of its MLAs.

DEL30 PREZ-ECONOMIC-POLICY (3.21 PM) 'Behind every statistic lies human story', economic policy should improve people's lives: Murmu New Delhi: Asserting that behind every statistic lies a human story, President Droupadi Murmu on Friday said that the true measure of economic policy is not merely in numbers, but in its outcome.

BOM9 MH-ZIRWAL-FADNAVIS (2.44 PM) Will take appropriate decision on Zirwal issue after verifying facts: Fadnavis (2.44 PM) Mumbai: Maharashtra Chief Minister Devendra Fadnavis on Friday said an “appropriate decision” on minister Narhari Zirwal will be taken after verification of facts in connection with a viral video showing the NCP leader with a trans-person in a bedroom.

LEGAL BOM6 MH-HC-AMBANI-PIL (1.23 PM) HC junks plea seeking CBI probe against Mukesh Ambani, RIL over ‘illegal’ gas extraction Mumbai: The Bombay High Court on Friday dismissed a petition seeking a CBI probe against Reliance Industries Limited and its chairman and managing director Mukesh Ambani for alleged unlawful extraction of natural gas from ONGC’s Krishna-Godavari basin fields.

LGD7 CJI-JUDGES VACANCY (3.56 PM) CJI writes to HCs for expeditious filling of vacant posts, prioritising elevation of women judges New Delhi: Chief Justice of India Surya Kant has written to chief justices of high courts for expeditious filling up of judicial vacancies with special focus on elevation of women judges for ensuring diversity in the benches.

BUSINESS DEL24 BIZ-LPG-ALLOCATION (1.15 PM) Govt raises commercial LPG supply to 70 pc of pre-war demand, prioritises key industries New Delhi: The central government has increased commercial LPG allocations to states by 20 per cent, raising the quota to 70 per cent of pre-war demand to meet industrial requirements, including steel and automobiles.

FOREIGN FES20 LANKA-HEALTH SCAM (3.47 PM) Former Sri Lanka health minister fined LKR 75 million for purchasing substandard medicines Colombo: The Supreme Court on Friday fined a former health minister Sri Lanka rupees 75 million for violating fundamental rights by importing medicines under an Indian credit line in 2022 through a company not registered for the purpose. PTI AMJ AMJ

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