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Stock markets surge 1,172 pts as US-Iran reach peace deal

 Mon, 15 June 2026
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10:07
Modi greeted with Vande Mataram, bread-salt welcome in Bratislava
Prime Minister Narendra Modi arrived in Bratislava on Monday for a state visit to Slovakia, marking the first-ever visit by an Indian PM to the Central European nation since its independence in 1993.

After arriving at the Slovak capital, PM Modi expressed optimism about strengthening bilateral relations and expanding cooperation across multiple sectors.

In a post on X, the Prime Minister said, "Reached Bratislava. This visit provides an opportunity to deepen India-Slovakia relations and explore new avenues of cooperation. Looking forward to productive meetings with President Pellegrini and Prime Minister Fico."PM Modi received a warm welcome with a rendition of the national song "Vande Mataram" by the Lucnica Ensemble at a hotel in Bratislava. The group also performed the Indian national anthem during the visit of President Droupadi Murmu in 2025.

The Prime Minister witnessed a spiritual performance by the Slovakian musical group, Mahadeva Kirtan Projekt. A traditional Slovak dance was also performed by a children's folk ensemble called Kopaniciarik from the Myjava region of Slovakia.

He was given a traditional welcome with bread and salt upon his arrival in Bratislava. In Slovak culture, the traditional welcome with bread and salt is a symbol of hospitality, respect, and goodwill. 

Guests, especially honoured visitors or dignitaries, are greeted with a loaf of bread and a small dish of salt. Bread represents prosperity, sustenance, while salt symbolises value, friendship, and protection. This custom has deep roots in Slavic traditions and reflects the importance Slovaks place on welcoming others warmly and sharing the blessings of home and community. -- ANI
09:58
Indian envoy meets rescued MT Jalveer crew in Oman
The Ambassador of India to Oman, Prashant Pise, interacted with the 20 Indian crew members of MT Jalveer in Muscat ahead of their repatriation to India and wished them a safe journey home.

In a post on X, the Embassy of India in Muscat stated, 'The crew were safely evacuated ashore, in coordination with Omani authorities, following the incident involving the vessel on 11 June 2026.'

The interaction provided an opportunity for the top diplomat to personally review the well-being of the rescued sailors following the maritime security incident.

Reaffirming its unwavering commitment to the safety of citizens overseas, the mission further highlighted on the social media platform that the 'Embassy of India remains committed to extending prompt assistance and support to Indian nationals in distress and ensuring their welfare and safe return home'.

This rescue operation and subsequent repatriation of the MT Jalveer crew took place against the backdrop of a major diplomatic escalation by New Delhi last week.

On Friday, India scaled up its diplomatic intervention following successive strikes on commercial vessels off the Omani coast, summoning United States Charge d'Affaires Jason Meeks for the second time within 48 hours to register a strong protest over the maritime incidents that resulted in the deaths of three Indian seafarers.

The diplomatic protest was filed a day after all three Indian crew members who had been reported missing following an attack on the Palau-flagged tanker MT Settebello were confirmed dead. New Delhi registered its deep concern over the continuing attacks on commercial vessels carrying Indian mariners off the coast of Oman and reiterated its opposition to the use of force against civilian shipping.

Articulating the government's position during these meetings last week, the Ministry of External Affairs (MEA) issued a firm statement regarding the hazardous security situation.

"The Ministry once again conveyed its deep concern over the use of lethal and deadly force against civilian shipping. Such actions are unacceptable and undermine the safety, security, and stability of international maritime commerce in a sensitive region at a difficult time," the MEA said.

The ministry further noted that the American envoy had been requested to convey India's concerns to Washington, DC and ensure that US forces operating in the region take all necessary measures to prevent further loss of civilian life.

This intensifying diplomatic standoff stems from a series of strikes targeting commercial vessels, triggered by the escalating US-Iran confrontation in the Gulf region.

The most severe of these incidents involved the MT Settebello, a tanker carrying 24 Indian crew members that was struck last week off the coast of Oman.

While a joint search-and-rescue operation by Indian and Omani authorities successfully saved 21 crew members, three sailors were later found dead.

Because of this tragedy, New Delhi initially summoned the US Charge d'Affaires on Wednesday immediately after the strike on MT Settebello

However, the subsequent move to summon the diplomat for a second time later in the week reflected a significant hardening of India's stance once the fatalities were officially confirmed.

The loss of life highlights a dangerous and highly volatile trend of maritime violence breaking out in these vital corridors.

Earlier last week, on June 8, MT Marivex, manned by 24 Indian nationals, was reportedly struck by US forces after allegedly attempting to proceed towards an Iranian port despite a naval blockade. Fortunately, all crew members from that ship were safely rescued by Omani authorities.

A day later, the MT Settebello was targeted, leading directly to the deaths of the three Indian sailors.

The volatile situation worsened on Thursday last week when another commercial vessel, MT Jalveer, reportedly came under attack near Shinas port off the Omani coast, prompting the urgent evacuation and diplomatic meetings that followed.

Preliminary assessments indicated that approximately 20 Indian crew members were on board the vessel, though comprehensive details regarding the strike remain unclear.

This sequence of three separate strikes within a brief four-day window underscores the compounding dangers confronting Indian seafarers as the geopolitical friction between the United States and Iran spills over into vital international shipping lanes.

Compounding these regional maritime challenges, the Indian Embassy in Oman announced on Sunday that all 14 crew members aboard the Indian-flagged MSV Virat had been successfully rescued during an operation, confirming that all members were safe and in good health.

Providing details on their current transit following the emergency at sea, the diplomatic mission added that the rescued mariners are now aboard Jabal Ali 9, heading to Mumbai.

Sharing an official update on the successful mission, the Embassy said in a post on social media platform X, 'Rescue operation involving Indian Flagged MSV Virat 1 has been completed. All 14 crew members have been rescued and are presently onboard Jabal Ali 9 heading to Mumbai. The crew members are safe and in good health.'

Meanwhile, expanding on the details of the incident, the Directorate General of Shipping (DGS) has confirmed that all 14 Indian crew members aboard the Indian-flagged vessel MSV VIRAT-1 are safe after the dhow sank about 80 nautical miles off Ras Al Hadd, Oman.

The DGS further noted that the successful evacuation of the crew was ensured through a prompt rescue operation and close coordination among Omani authorities, the Embassy of India in Oman, maritime agencies, and other stakeholders.  -- ANI
09:51
Noida Airport begins passenger flights; first flight from Lucknow
Noida International Airport on Monday received its first landing with an IndiGo flight arriving from Lucknow, officials said.

The event was shortly followed by the first takeoff from the greenfield project by a flight to Lucknow. The plane carried villagers from the Jewar region whose land was acquired by the state government for the first phase development of the airport.

IndiGo flight 6E 2278 took off from Chaudhary Charan Singh International Airport, Lucknow, at 7.12 am and landed at Noida International Airport at 7.58 am, according to airport officials.

The arrival marked the beginning of flight operations at the Jewar-based airport, an ambitious project aimed at enhancing air connectivity between western Uttar Pradesh, the National Capital Region, and other parts of the country.

The first flight took off around 8.19 am and had on board, among other passengers, Jewar MLA Dhirendra Singh and officials of the Yamuna Expressway Industrial Development Authority, including its CEO Rakesh Singh, additional CEO Shailendra Bhatia, PCS officer and former Jewar SDM Abhay Singh.

Officials said the new air connectivity is expected to benefit business travellers, students, professionals and other passengers by providing an additional travel option and supporting regional development.

The airport has been developed with a focus on creating a multimodal transport hub, with connectivity through air, road and other modes of transport, officials added.  -- PTI
09:06
US set to release $12 billion in frozen Iranian assets
Iran's frozen assets worth $12 billion continue to be a primary bone of contention even as the world celebrates a peace deal between the US and Tehran, which is scheduled to be signed on Friday in Geneva.

According to Iran's Mehr news agency, which cited a 14-point memorandum of understanding, the US has agreed to release the frozen assets before the start of negotiations, which focus on key issues including Tehran's nuclear programme.

The document published by Mehr stipulates 'the release of 24 billion dollars in frozen Iranian assets during the 60-day negotiation period' that begins after the memorandum of understanding is concluded. Furthermore, the text, which has not been officially confirmed, specifies that 'half of this amount must be made available to Iran before the start of the negotiations'.

However, the US was quick to turn the claim on its head, with an official telling Axios that no frozen funds will be released without Iran implementing its commitments.

The senior US official stated, "This is a pay-for-performance deal."

This diplomatic friction follows an announcement by US President Donald Trump on Saturday, who confirmed that a peace deal with Iran had been agreed upon and would see the critical marine chokepoint, the Strait of Hormuz, reopening months after the war brought movement to a near halt. White smoke rose from the White House, signifying that the agreement had been reached.

Providing Tehran's perspective, Iranian Deputy Foreign Minister Kazem Gharibabadi was quoted by Tasnim news agency as saying that negotiations for a final deal will be held during a 60-day period, depending on Washington, DC's coming through on its commitments, including ending hostilities, lifting the blockade, and releasing frozen assets.

Iranian media reports added that the deal also included a ceasefire in Lebanon.

The dispute over these funds is not new. Iran's frozen assets were earlier brought up by the US when Treasury Secretary Scott Bessent said they may be used to financially compensate Washington, DC's Gulf allies for any damage incurred during future hostilities by Tehran.

This prompted a sharp response last week from Iran's Foreign Minister Abbas Araghchi, who said that if Iranian assets are used to make payments to other countries, it is a violation of the agreement.

Despite the ongoing disagreement over financial matters, the broader pact has received widespread acclaim, with the United Kingdom, Germany, Italy, and France among the earliest to respond with readiness to lift sanctions on Iran if the country takes clear, verifiable steps.

In contrast, Israel, which has insisted it be allowed a free hand to pursue Hezbollah as it occupies southern Lebanon and has extended its military operations into areas its forces have not been in for a quarter century, did not immediately comment.

Ultimately, the deal hopes to bring peace to the region, where a shaky ceasefire has been interrupted periodically by tit-for-tat attacks.

This has directly and severely impacted the global energy and stock markets, sending commodity prices soaring.  -- ANI
08:40
Macron shares 'Nice' selfie with Modi
Highlighting the warm camaraderie between India and France, French President Emmanuel Macron took a selfie with Prime Minister Narendra Modi on the sidelines of the G7 Summit, setting social media abuzz ahead of the high-level multilateral event.

The social media post, shared on Sunday, appeared to be a playful double entendre, expressing approval of the moment while also referring to Nice, the French Riviera city hosting this year's G7 Summit.

Accompanying the photograph was a one-word caption: 'Nice!'

Captured against the picturesque Mediterranean coastline, the image featured both leaders smiling warmly as dignitaries from across the globe converged in southern France.

The summit is set to host extensive deliberations on critical global issues, including international security, trade dynamics, artificial intelligence, and the active conflicts in Ukraine and West Asia.

This viral update marks the commencement of Modi's crucial diplomatic visit to France.

During the visit, Modi is scheduled to take part in the G7 outreach sessions and engage in a series of key bilateral discussions with various global leaders, including US President Donald Trump.

Though India does not hold permanent membership in the G7 bloc, Modi's invitation to the outreach sessions reflects New Delhi's rapidly expanding geopolitical footprint on the world stage.

The forum offers a vital platform for India to interact with premier global powers amid a landscape of shifting international equations and heightened uncertainty.

The interaction also mirrors the robust strategic partnership cultivated by the two leaders over recent years.

New Delhi and Paris have consistently scaled up their bilateral engagement across key sectors, including defence, space exploration, civil nuclear energy, technology, and security architecture in the Indo-Pacific region.  -- ANI
08:37
Modi arrives in Slovakia for second leg of his two-nation visit
Prime Minister Narendra Modi arrived in Slovakia for the second leg of his two-nation visit where he will hold talks with President Peter Pellegrini and Prime Minister Robert Fico and interact with business leaders.

Modi is the first Indian prime minister to visit Slovakia since its independence in 1993.

In a post on X after reaching the Slovak capital on Sunday night, Modi said, "This visit provides an opportunity to deepen India-Slovakia relations and explore new avenues of cooperation. Looking forward to productive meetings with President Pellegrini and Prime Minister Fico."

The prime minister arrived in Bratislava for a two-day visit (June 14-16) after he held bilateral talks with French President Emmanuel Macron in Nice. He also attended the inauguration of the 'Bharat Innovates' event in France.

"Upon arrival at the hotel, the PM was received by Minister of Foreign and European Affairs of the Slovak Republic, Mr Juraj Blanar and given a warm Slovak welcome of bread and salt, a symbol of hospitality, respect and goodwill," the Ministry of External Affairs said in a post on X.

In his departure statement ahead of the visit, Modi said, "This historic visit builds on the strong momentum in our bilateral relationship. I look forward to holding discussions with President Pellegrini and Prime Minister Fico. I will also have the opportunity to interact with Slovak business leaders."

The prime minister said the visit will further energise India's strategic partnership with the European Union, of which Slovakia is an important and valued member.

A statement by the Ministry of External Affairs (MEA) said the visit follows President Droupadi Murmu's State Visit to Slovakia in April 2025 and Slovak President Pellegrini's visit to India for the AI Impact Summit in February 2026.

"The visit will reaffirm India's commitment towards strengthening its bilateral relationship with Slovakia in various sectors, including trade, investment, and automobile and railway manufacturing," the statement issued June 9 said.

In a post on X on Saturday, Pellegrini said, "Dear Prime Minister Narendra Modi, I look forward to welcoming you in Bratislava on Monday. Your historic visit will build on our good dialogue from New Delhi and open new opportunities for Slovakia-India cooperation."

Modi will return to France to participate in the G7 Summit in Evian on June 16-17.

At the summit, Modi is expected to exchange views with G7 leaders and invited partner countries on issues including international cooperation, economic growth and artificial intelligence. He is also scheduled to hold a series of bilateral meetings on the sidelines of the gathering.

The final leg of his visit will take him to Paris on June 18, where he will attend the VivaTech 2026, Europe's largest technology and startup event, alongside President Macron.  -- PTI
08:22
Iran says negotiations to be held during 60-day period
Iran's Deputy Foreign Minister for Legal and International Affairs Kazem Gharibabadi has confirmed a peace deal with the United States, and said that Tehran will enter a proposed 60-day negotiation period for a final agreement only after verifying Washington, DC's commitments towards ending hostilities, lifting the blockade and releasing Iranian assets.

US President Donald Trump has announced the completion of a peace deal between Washington and Tehran, along with the lifting of US Naval blockade on the Strait of Hormuz.

According to Iran's state-affiliated Press TV, Gharibabadi said the official signing ceremony of the agreement will take place on Friday, after which the text of the Memorandum of Understanding will be made public.

"The enemy that had launched an attack to carry out its sinister objectives suffered defeat in all its goals, and the Islamic Republic of Iran achieved great victories in the war. The memorandum of understanding was not just a product of diplomacy, but is indebted to Iran's military achievements. It is indebted to the pure blood of the martyrs we gave in confronting the enemies of the establishment. After the official signing, the text of the memorandum of understanding will be published. On Friday, we will have an official signing, and the heads of the two delegations will hold discussions to determine the future arrangements for negotiations," Gharibabadi said.

He added that Iran would first verify whether the United States had fulfilled its obligations regarding 'ending the war, lifting the blockade, and releasing assets' before entering the next phase of negotiations.

"Entering into 60 days of negotiations is conditional upon the fulfilment of these commitments by the United States," Gharibabadi said, according to Press TV.

Providing further details of the emerging agreement, Gharibabadi said Iran had incorporated all of its key positions into the draft memorandum of understanding and stressed that the document should not be interpreted as a sign of trust in Washington, DC.

"This memorandum of understanding does not mean trusting the enemy," he said in remarks reported by Al Jazeera.

"We will monitor the implementation of US commitments."

The remarks came after US President Donald Trump announced the completion of a peace deal between Washington, DC and Tehran.

In a post on Truth Social, Trump wrote, 'The Deal with the Islamic Republic of Iran is now complete. Congratulations to all! I hereby fully authorise the toll-free opening of the Strait of Hormuz, and, simultaneously herewith, authorise the immediate removal of the United States Naval blockade. Ships of the World, start your engines. Let the oil flow!'

Pakistan Prime Minister Shehbaz Sharif also announced that an agreement had been reached following intensive negotiations.

In a post on X, Sharif said both sides had agreed to the immediate and permanent termination of military operations on all fronts, including in Lebanon.

Sharif stated that the official signing ceremony would take place on June 19 in Switzerland and thanked Qatar, Saudi Arabia and Turkiye for their roles in facilitating the mediation process.

According to Sharif, a series of pre-implementation meetings will be held before the signing ceremony to lay the groundwork for technical discussions and the implementation of the agreement.  -- ANI
08:07
Hormuz reopening to ease oil supply risks for India
A reopening or normalization of shipping through the Strait of Hormuz would provide significant relief for India, one of the world's largest crude importers, by easing concerns over oil supplies, lowering freight costs and reducing pressure on inflation.

The narrow waterway between Iran and Oman handles roughly a fifth of global oil consumption and serves as the primary export route for major Gulf producers, including Saudi Arabia, Iraq, Kuwait, the United Arab Emirates and Qatar - all key energy suppliers to India.

Supply of crude oil - the raw material for making fuels like petrol and diesel - and natural gas - the feedstock used to generate electricity, produce fertiliser, turned into CNG to run automobiles and piped to household kitchens for cooking - through the strait was disrupted since the start of Iran in the end of February. This triggered sharp increases in crude oil prices, shipping insurance premiums and freight rates.

Industry sources and analysts said the reopening and reduction in tensions would likely help stabilize global energy markets and improve the outlook for energy-importing nations such as India.

Oil prices fell on Sunday after US President Trump said the United States had reached a ceasefire agreement with Iran that would allow the "toll free" passage of ships through the Strait of Hormuz.

"I hereby fully authorize the toll free opening of the Strait of Hormuz, and, simultaneously herewith, authorize the immediate removal of the United States Naval blockade," US President Donald Trump posted online. "Ships of the World, start your engines. Let the oil flow!"

Oil prices dropped on news of the ceasefire. Price of Brent crude, the global benchmark for oil, fell 4 per cent, to around USD 84 a barrel.

Global oil prices had risen to as high as USD 119 per barrel at the peak of war-related disruption, from USD 70-72 a barrel in February. This increased the cost of producing petrol and diesel, but the government held on to the retail rate revision till mid-May. The government on March 27 slashed excise duty on petrol and diesel by Rs 10 per litre each in a bid to avoid a retail price increase just when five critical states, including West Bengal, went to polls.

Post assembly elections, petrol and diesel prices were raised by about Rs 7.50 per litre each, while CNG rates were up Rs 6 per kg. LPG prices too were increased by Rs 89 per 14.2-kg cylinder in two instalments.

Notwithstanding the price increase, state-owned oil companies continue to lose about Rs 650 crore per day as retail rates lag cost.

With oil prices easing and the reopening of the Strait, these will gradually come down, industry sources and analysts said.

"State-owned fuel retailers booked losses in one quarter that were equal to the profit they earned in the entire year," an industry official said.

"If the agreement holds, energy supplies will ease and so will the prices."  -- PTI 

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