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IndiGo, Air India cut June-July domestic flights amid high jet fuel prices, sources say

May 27 (Reuters) – IndiGo and ‌Air India, India’s two largest airlines, have sharply cut their planned domestic flights for June and July, sources familiar with the matter said, as the industry grapples with a rise in jet fuel costs in the wake of the Iran ​war. IndiGo has cut around 7%-10% of its planned domestic flights for the period, while Air India ​has cut 22%, the sources said, marking a significant pullback by the two ⁠carriers that together control around 90% of India’s domestic air passenger market. The sources declined to be named ​as they were not authorised to

Iran says draft deal with US would reopen Hormuz shipping, end naval blockade

DUBAI, May 27 (Reuters) – Iran’s state TV said Tehran ​had obtained a draft of an initial, ‌unofficial framework for a memorandum of understanding with the United States on ending their conflict. Under the framework, Iran would restore ​commercial shipping through the Strait of Hormuz to ​pre-war levels within a month, while the United ⁠States would withdraw military forces from Iran’s vicinity ​and lift a naval blockade. State TV said the ​framework, which excludes military vessels and envisages Iran managing ship traffic through the strait in cooperation with Oman, was not yet ​finalised and that Tehran would take no steps

Gold drops Rs 1,100 to Rs 1.61 lakh/10g in Delhi

New Delhi, May 27 (PTI) Gold prices declined Rs 1,100 to Rs 1.61 lakh per 10 grams in the national capital on Wednesday, tracking weak global trends as investors assessed the impact of persistent US-Iran tensions and rising safe-haven demand for dollar. According to the All India Sarafa Association, the yellow metal of 99.9 per cent purity depreciated Rs 1,100 to Rs 1,61,300 per 10 grams (inclusive of all taxes) from Tuesday’s closing level of Rs 1,62,400 per 10 grams. Silver also weakened, falling Rs 3,300 to Rs 2,69,700 per kilogram (inclusive of all taxes). The white metal had settled

Trump gathers Cabinet as he looks to seal deal to end war that some backers worry will embolden Iran

WASHINGTON, May 27, 2026 (AP) — President Donald Trump will meet with his Cabinet on Wednesday at a precarious moment for talks aimed at ending the war with Iran, just days after insisting that his administration and Tehran had “largely negotiated” a settlement but with the negotiations still in a state of flux. As he prepares to huddle with his top aides, Trump is projecting confidence that he’s closing in on a deal that will reopen the Strait of Hormuz and provide him a credible argument that Iran’s nuclear capability has been diminished enough to declare victory, winding down a

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