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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. Here’s what to know US, Iran set for peace talks but doubts emerge over Lebanon, sanctions Malls, high-streets in NCR clock 45% rise in leasing of retail spaces in Jan-Mar: C&W Proposed Trump arch in Washington DC includes winged figure, eagles, lions and gold inscriptions 'Ladakh' replaces 'Jammu and Kashmir' in Aadhaar records for UT residents Misri ends US trip with focus on civil nuclear cooperation and LPG exports Artemis II astronauts return to Earth after historic lunar flyby and Pacific splashdown US-Iran peace talks in Pakistan: What will be discussed? US Vice President Vance arrives in Pakistan for crucial peace talks with Iran EU condemns ‘illegal’ Israeli expansion: 30 new West Bank settlements spark global outcry US intelligence indicates China preparing weapons shipment to Iran India, Japan discuss Strait of Hormuz security IPL 2026: Ad volume witness marginal dip in first 13 matches MAHE and Helogen Corporation partner for space-based biomedical research Share of Indian employees ‘engaged’ at work on a decline, says report AP CM Naidu asks Centre to expedite Srikakulam–Kakinada natural gas pipeline project PMMY at 11: Funding the unfunded, powering MSME-Led growth Karnataka to collaborate with medical colleges to strengthen govt health centres Army clears Col Purohit for Brigadier rank after Tribunal stays retirement New TB vaccines safe but may not protect against all forms of infection: Phase-3 study Rubio to visit India in May as ties with New Delhi improve Vice president releases latest edition of Constitution in Sindhi ‘Jana Nayagan’ leaks online, makers initiate legal action Jaiprakash Gaur backs Adani Group's acquisition of JAL assets Power demand to rise up to 6% in this financial year amid expected El Nino-led heat: Crisil India records highest-ever annual solar capacity addition of 45 GW in FY 2025-26: Pralhad Joshi Shimla records coldest April night in 46 years, temperature drops to 3.6°C: IMD World shares mostly higher, oil gains ahead of planned US-Iran ceasefire talks No impact of Iran war on India business, says Salesforce’s Arundhati Bhattacharya Global growth to slow to 3.2% in 2026, amid largest energy shock on record due to West Asia crisis: S&P India poised to lead global net zero transition with 150 GW solar milestone: Pralhad Joshi India pushes defense self-reliance amid West Asia conflict In Bengal, will the Left’s vote shift to the Right? 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
Kuwait accuses Iran of failed attack on island hosting China-backed port
2026-05-13 · via Latest Business News, Business News India Today | The HinduBusinessLine
Kuwait has accused Iran of attempting a failed attack on Bubiyan Island, home to a China-backed port project, amid escalating Middle East tensions. Kuwaiti authorities said Revolutionary Guard-linked operatives tried to infiltrate the island before being intercepted. (A representative image)

Kuwait has accused Iran of attempting a failed attack on Bubiyan Island, home to a China-backed port project, amid escalating Middle East tensions. Kuwaiti authorities said Revolutionary Guard-linked operatives tried to infiltrate the island before being intercepted. (A representative image) | Photo Credit: Kuwait Petroleum Corporation

Kuwait accused Iran of launching a failed attack earlier this month on an island where China is helping build a port in the Middle East nation.

The accusation brought Tuesday came just before US President Donald Trump was to depart for Beijing where he'll meet with Chinese President Xi Jinping in a high-stakes visit over the war and other issues.

Iran didn't immediately acknowledge the allegation by Kuwait, which came under attack by Iran in the war and during the shaky ceasefire still holding. But that allegation and ongoing attacks throughout the region have threatened to reignite open warfare.

The narrow Strait of Hormuz remains in Iran's chokehold, the US is maintaining a blockade against Iran and negotiations between the two countries appear at a standstill.

With the risk of the conflict breaking out again, Israel has sent Iron Dome air-defence weapons and personnel to operate them in the United Arab Emirates to defend the country during the war, the US ambassador to Israel said.

That underlined the growing relationship between Israel and the UAE, both long suspicious of Iran. It also represents the first publicly acknowledged deployment of Israel's military to the Emirates, home to Abu Dhabi and Dubai.

Kuwait alleges Iran planned attack

Kuwait said a paramilitary Revolutionary Guard team tried to infiltrate Bubiyan Island in the northwest corner of the Persian Gulf near Iraq and Iran on May 1.

Four men were detained and two escaped when Kuwait's forces disrupted the attack, it said.

Bubiyan Island is home to Mubarak Al Kabeer Port, which is under construction as part of a Chinese plan to build infrastructure across the world. It also came under Iranian attack during the war.

Kuwait provided no reason for why it delayed linking the attack to Iran after initially announcing it on May 3 without any details. Trump is traveling this week to China for a summit where Iran will likely be a main topic. Beijing long has been a buyer of sanctioned Iranian crude oil and has been hurt by the strait's closure, which has sparked a global energy crisis.

Huckabee says Israel deployed to UAE

US ambassador to Israel Mike Huckabee, a one-time presidential candidate, revealed at a conference in Tel Aviv, Israel, that Israel has sent Iron Dome air-defense to the UAE.

The United Arab Emirates diplomatically recognized Israel in 2020. That drew criticism from Iran, long Israel's main regional enemy. Iran didn't immediately respond to Huckabee's remarks, though it has repeatedly suggested over the years that Israel maintained a military and intelligence presence in the Emirates.

The Israeli military declined to comment on Huckabee's statement about the Iron Dome while the UAE didn't immediately respond.

The US ambassador to the United Nations, Mike Waltz, was quoted as making comments similar to Huckabee's during an event at the Israeli mission — suggesting the release of the information was intentional, likely with the Emiratis' and Israelis' blessing.

The UAE has faced Iranian missile and drone fire even after the ceasefire was reached last month. It has been trying to signal to nervous investors and the public that it remains open for business and safe.

Hegseth tells Congress: We control the strait'

US Defence Secretary Pete Hegseth told members of Congress Tuesday that the military has plenty of bombs and missiles despite concerns about its stockpiles.

He also maintained that the US is in control of the Strait of Hormuz, even as Iranian attacks — and threats — have disrupted the shipment of oil and other products through the vital waterway.

“Ultimately we control the strait, because nothing's going in that we don't allow to go in,” said Hegseth, who faced tough questions from Republican and Democratic lawmakers who oversee defense spending.

Sen Chris Coons, a Delaware Democrat, asked what the Trump administration's strategy is for reopening the waterway. “Your average American is seeing this at the gas pump every single day as the cost of gas continues to rise,” Coons said.

Hegseth avoided specifics about the next steps in Iran. The Pentagon's top budget official told Congress that the cost of the war is close to $29 billion so far — that's up from an estimate of USD 25 billion just two weeks ago.

Norway has some 25 stranded vessels

One of Norway's top diplomats met Tuesday with Iranian Foreign Minister Abbas Araghchi in Tehran, pressing for the need to open the strait.

Deputy Foreign Minister Andreas Kravik stressed that the attacks on commercial shipping and obstruction of the passageway must end, his minister, Espen Barth Eide, said in an email.

Kravik said Iran's actions affecting third-party countries are “completely unacceptable” and noted that Norway has some 25 vessels stranded, according to Eide.

Published on May 13, 2026