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Pakistanis fleeing Iran describe strikes shaking ground under their feet

QUETTA, Pakistan, March 5 (Reuters) – Pakistanis fleeing ​Iran described explosions and missile strikes across Tehran shaking the ground under their feet and engulfing buildings ‌in fire and smoke in a city emptied of many of its residents. The conflict has widened sharply, with a U.S. submarine sinking an Iranian warship off Sri Lanka on Wednesday and NATO air defences destroying an Iranian missile fired towards Turkey. Governments have been scrambling to evacuate stranded citizens, ​with most of the region’s airspace closed due to the risk of missiles hitting passenger planes. “I was ​in the classroom when a powerful explosion

Iran war to weigh more on Indian growth than inflation, keeping interest rates low

MUMBAI, March 5 (Reuters) – The U.S. and Israel’s attack on Iran is expected to weigh more on India’s economic growth than its inflation, which will encourage the Reserve Bank of India to keep interest rates low, three sources familiar with policymakers’ thinking and analysts said. The conflict, which has rippled out across much of the Middle East, has pushed up oil prices by about 15%, ​disrupted gas flows from the region and triggered selloffs in Indian equity, debt and currency markets, with the rupee hitting a record low and bond yields rising due to ‌concerns about India’s current account

Rupee rebounds from lowest level to settle 45 paise higher at 91.60 against US dollar

Mumbai, Mar 5 (PTI) The rupee rebounded from its lowest level and settled with a gain of 45 paise at 91.60 (provisional) against US dollar on Thursday on the back of a buying trend in domestic equity markets and reports of Reserve Bank intervention. According to forex analysts, the Reserve Bank seems to have intervened to help the local currency from extreme volatility due to uncertainties on the ongoing war involving the US, Israel and Iran. However, a firm dollar, rising crude oil prices and intense withdrawal of foreign funds kept the rupee under pressure, they said. At the interbank

Stock markets rebound tracking rally in global peers; Sensex rallies 899 pts

Mumbai, Mar 5 (PTI) Benchmark stock indices Sensex and Nifty bounced back on Thursday, closing higher by more than 1 per cent in line with a rebound in global equities after recent sharp losses due to the conflict in West Asia. Snapping its four-day decline, the 30-share BSE Sensex rebounded 899.71 points or 1.14 per cent to settle at 80,015.90. During the day, it surged 1,187.64 points or 1.50 per cent to 80,303.83. The 50-share NSE Nifty climbed 285.40 points or 1.17 per cent to end at 24,765.90, ending its three-day falling streak. From the Sensex pack, Adani Ports, Larsen

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