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Latest Business News, Business News India Today | The HinduBusinessLine

Draft CAFE-3 Norms: Govt eases penalties, focuses on carbon credit trading for auto sector Modi seeks opposition backing to implement women’s reservation before 2029 polls West Asia crisis: Ludhiana handtool export units face labour, gas supply shortages, high input costs Patent application filings in India rise 30.2% to 1.43 lakh in 2025-26: Goyal Meet the man with 138 degrees: Dashrath Singh, an ex-serviceman, earns latest qualification from IGNOU Europe missed AI bus, but India has potential to catch up: Former WEF Director AIG Hospitals, ICMR team up for digital health innovation Juno Joule Bio Fuels begins construction of compressed bio-gas project in Telangana Legendary playback singer Asha Bhosle dies at 92 Signature Global cuts net debt by 77% to ₹200 crore in FY26 Iran aims to restore majority of refining capability within two months Supreme Court to hear on Monday pleas related to SIR of electoral rolls in West Bengal US, India hold engagements to advance defence cooperation Trump shares article suggesting option with him to enforce naval blockade on Iran NCLAT reaffirms project-specific insolvency proceedings against realty firms Iran-US talks in Pakistan ended without deal as Tehran cites ‘excessive demands’ from US Two supertankers U-turn in Hormuz as US-Iran talks break down Time has come to implement Women's Reservation Act: PM Modi's letter to LS, RS floor leaders Iran war diverts US military, attention from Asia ahead of Trump's summit with China's leader Trump says China will have big problems if it ships arms to Iran India will soon become self-reliant in defence sector, find itself among leading nations of the world: Rajnath Singh Pakistan to continue facilitating US-Iran talks, says Dar; urges ceasefire More than 2,000 people killed by Israeli strikes in Lebanon during Israel-Hezbollah war: officials Iran denies US claims of mine clearing ships’ passage through Strait of Hormuz AI to reduce uncertainties and expand opportunities - RBI DG EAM Jaishankar meets members of Indian community in UAE 4 ways war in Iran has weakened United States in great power game US-Iran talks fail after 21 hours in Islamabad, JD Vance cites nuclear deadlock Delhi EV Policy: Electric 3-Wheelers Only by 2027, 2-Wheelers by 2028 Islamabad talks: US and Iran begin negotiations aimed at ending West Asia conflict 51.5 lakh LPG cylinders delivered, 8.7 lakh Indians return amid West Asia crisis: Government India-flagged LPG tanker Jag Vikram crosses Strait of Hormuz after US-Iran ceasefire Iran's new supreme leader Mojtaba Khamenei has severe and disfiguring wounds, sources say No road tax, registration fees for electric vehicles priced up to ₹30 lakh till March 2030: Delhi’s draft EV policy West Asia tensions push up costs for India; further impact hinges on stability: Report ED initiates fresh raids against former Bengal minister Chatterjee in teacher recruitment scam Election Commission reverses Mittal’s DVAC posting, appoints him DGP, TN Armed Police Israel and Lebanon are expected to hold talks. 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Tractor sales cross 10 lakh mark in FY26 on strong rural demand, GST cut Kerala’s mandate at crossroads as social welfare meets job demand and upward mobility US, Iran prepare for ceasefire talks as Netanyahu authorises negotiations with Lebanon BJP unveils Bengal manifesto, pledges to implement Uniform Civil Code, measures against infiltration Sun Pharma shares down 4 per cent on reports of overtures for US-based Organon Steven Spielberg’s Jaws returns to theatres in 4K restoration on April 17 Approach authorities instead of rushing to court, SC tells petitioner who filed 25 PILs NDA promises mega textile hub near Tiruppur; Goyal bats for Edapaddi K Palaniswami leadership Civic issues at the heart of T Nagar’s knife-edge poll battle Political climate gets Madurai temperatures soaring Allahabad HC judge Yashwant Varma resigns a year after cash row; probe continues Zelenskyy says Ukrainian forces shot down Shahed drones in Middle Eastern countries during Iran war India comfortable on crude and LPG supply on diversified sourcing, says IOC chairman ISRO successfully conducts second integrated air drop test for Gaganyaan mission Vedanta Aluminium signs pact with two downstream companies SC regularises interim bail granted to Gujarat-based journalist in money laundering case Trump ramps up threats against Iran on Hormuz before talks FYL91 commences new flights to Hyderabad, Rajahmundry and Vijayawada Telangana’s GST revenue up 15% in last 3 months ASMS launches agri-commerce network AYOU in Hyderabad Ladakh turns to apricot blossoms to stretch short tourism season ADB suggests unified social protection framework to cut duplication Trump's tenuous Iran exit plan isn't healing Republican rifts exposed by the war Vance sets off to Pakistan to lead talks with Iran as war’s ceasefire remains shaky Godrej Properties reports record ₹34,171 crore sales bookings in FY2026, up 16% BCCI mourns passing of former India cricketer CD Gopinath Former Iran FM Kamal Kharrazi dies from wounds sustained in US-Israeli attack: Reports West Asia conflict drives surge in NRI term insurance purchases from India, 35% m-o-m surge: Report Chalet Hotels activates cost saving steps, growth plans remain intact: CEO Shwetank Singh South India Dargah Mosque Association extends support to AIADMK-NDA alliance
Trump envoy, Iranian minister head to Switzerland for talks
Reuters · 2026-06-20 · via Latest Business News, Business News India Today | The HinduBusinessLine

U.S. envoy Steve Witkoff and Iranian Foreign Minister ​Abbas Araqchi were both headed to Switzerland for talks, Axios said on Friday, as a ceasefire in Lebanon appeared to revive efforts to turn an interim Iran war pact ‌into a lasting regional deal.

Israel and Hezbollah agreed to a ceasefire in Lebanon on Friday after escalating fighting cast doubt ​over U.S.-Iran talks critical to reopening the Strait of Hormuz and stabilising oil supplies.

That followed a 14-point memorandum the two sides signed this ⁠week to halt fighting and open a 60-day window to resolve disputes over Iran’s nuclear program, as well as other thorny issues needed to forge a more durable deal.

U.S. Vice President JD Vance canceled plans on Thursday to travel to Switzerland for the talks, however, amid rising tension in Lebanon between Israel and Hezbollah, a militant group backed ‌by Iran.

With the ceasefire in place, Witkoff is heading to Switzerland to join Jared Kushner, President Donald Trump’s son-in-law, who is already there, Axios said. Araqchi plans to travel there on Saturday, it added.

The development may signal that both sides intend to begin technical negotiations ‌aimed at securing a permanent truce.

The White House did not respond to questions about Witkoff's travel.

A senior U.S. official said the ceasefire took effect ‌around 4 ⁠p.m. (1300 GMT) in Lebanon following an exchange of fire, adding that negotiators for the United States and Qatar had worked out ⁠the agreement with help from Iran.

Two sources from Hezbollah and a senior Israeli official confirmed the ceasefire to Reuters.

"If Hezbollah does not attack us, then for us it is not a time of war," the Israeli official said, adding that Israel would keep its forces in southern Lebanon, where it has occupied an area along its northern border.

Two Lebanese security sources said Israel ​had carried out a dozen airstrikes in the first hour of ‌the ceasefire but none were recorded after 5 p.m.

Lebanon's health ministry said Israeli strikes after midnight into Friday had killed 47 people and wounded 97, while the Israeli military said four soldiers had been killed in an incident in Lebanon, without giving further details.

The conflict in Lebanon could weigh on negotiations because ending fighting there is a condition for the broader U.S.-Iran accord.

Tough issues still remain unsolved

Following Wednesday's signing of the memorandum of understanding, preparations for ‌technical talks at the Swiss mountaintop resort of Buergenstock were well advanced when the White House said on Thursday that Vance would not ​attend.

The Swiss foreign ministry said the talks had been postponed but Switzerland stood ready to facilitate them and preparatory work was continuing.

The broad interim deal requires the United States, Iran and their allies to declare an immediate and permanent termination of military ⁠operations on all fronts, including in Lebanon.

Israel, left out of the talks, says it is not party to the deal.

Araqchi, in a telephone call with his Pakistani counterpart on Friday, said the United States would be responsible for any violation of its commitments under the deal, including ending the fighting in Lebanon, his ministry ‌said.

New round of Israel-Lebanon talks will also be discussed

Lebanon was sucked into the regional war when Hezbollah opened fire at Israel on March 2, prompting it to launch an offensive against the group and invade the south of the country.

Lebanese President Joseph Aoun condemned the latest Israeli attacks but said the escalation would not hinder efforts to reach a comprehensive ceasefire.

The U.S. State Department said Secretary of State Marco Rubio spoke to Aoun and reiterated the need to disarm Hezbollah, while reaffirming U.S. support for a "fully sovereign" Lebanese state.

It said they also discussed holding a next round of Israel-Lebanon negotiations in Washington from June 23 to June 25. The Lebanese presidency said a comprehensive ceasefire was a fundamental pillar for these talks.

Trump defends his interim details

The Iran war, which began on February 28 with U.S. and Israeli air ‌attacks on Iran, has killed at least 7,000 people, mostly in Iran and Lebanon. It also pushed up energy prices, stoking inflation worldwide.

Brent crude ticked higher on Friday, but was ​set for a weekly fall of about 8 per cent after the Lebanon ceasefire, and oil shipments through the Strait of Hormuz picked up after the signing of this week's deal.

The strait carried nearly a fifth of global crude oil and liquefied natural gas supplies before ⁠it was blockaded by Iran during the war.

The body set up by Iran to manage the strait said on Friday it would waive planned fees during the ⁠interim deal's negotiation period.

The MoU foresees relief for Iran from economic sanctions, the unfreezing of assets worth tens of billions of dollars and immediate U.S. waivers for its exports of oil. It also provides for a $300-billion reconstruction fund for Iran and other financial incentives.

Trump again defended the deal ‌after criticism in Washington, including some from Republican allies in Congress who question whether he conceded too much to end a war unpopular with most Americans ahead of midterm elections in November.

"The War has diminished Iran!" he wrote on social media on Friday, adding, "We didn’t meet out of desperation, ​Iran did. They are FINISHED! We’ll play out the 60 days. They get no money, not 10 cents!"

Published on June 20, 2026