Live! India had permitted all 3 Iranian ships, including torpedoed Dena, to dock: EAM

The Central Board of Secondary Education (CBSE) on Monday postponed the class 12 board exams till March 16 in the Middle East amid the Iran-Israel conflict, officials said.

The fresh dates were not immediately announced.

“After a critical review of the current situation in parts of the Middle East—Bahrain, Iran, Kuwait, Oman, Qatar, Saudi Arabia and the UAE—mental agony of the students and the prevailing uncertainties, the board has decided to postpone (class) 12 exams scheduled from March 12 to 16,” said CBSE Examination Controller Sanyam Bhardwaj.

The new dates will be announced later, and for further exams, the situation will be reviewed on March 14, he said.

Previously, the CBSE had postponed the exams for March 2, 5, 7, 9, 10 and 11 in the region.

It had cancelled class 10 exams till March 11 and said the mode of declaration of results will be announced separately.

India on Monday issued an advisory, asking its citizens in Bahrain to remain vigilant, take due care and adhere to the safety guidelines of the local authorities in view of the prevailing situation in the region.

"Indian citizens are requested to follow updates and advisories issued by the Embassy of India in Bahrain and the local authorities," the Embassy of India in Bahrain said in an advisory.

The advisory further said that the Embassy of India in Bahrain is continuing to function as usual.

Iran had sought India’s permission for three of its ships to dock at Indian ports and the approval was granted the next day, External Affairs Minister S Jaishankar said on Monday (March 9), amid tensions in the Indian Ocean region following the sinking of an Iranian warship by the US last week.

In a statement in Parliament, Jaishankar said one Iranian vessel, IRIS LAVAN, docked in Kochi on March 4 and its crew members are currently staying in Indian naval facilities.

It was for the first time a senior minister said that Iran requested for docking of three of its ships in Indian ports.

“The Iranian side requested permission on February 28 for three ships in the region to dock at our ports. This was accorded on March 1. IRIS LAVAN actually docked on March 4 in Kochi. The crew is currently in Indian naval facilities,” he said.

“We believe that this was the right thing to do and the Iranian Foreign Minister has expressed his country’s thanks for this humane gesture,” Jaishankar said.

One of the three warships was IRIS Dena that was torpedoed and sunk by a US submarine on March 4.

The warship was returning home after participating in the Milan multilateral naval exercise as well as International Fleet Review hosted by India. At least 87 Iranian sailors were killed in the attack.

Another Iranian warship was allowed to dock by Sri Lanka at its eastern port of Trincomalee. The vessel, IRIS Bushehr, had sought permission to enter Sri Lankan waters, citing an engine failure.

West Bengal Chief Minister Mamata Banerjee on Monday (March 9) accused Chief Election Commissioner Gyanesh Kumar of threatening state officials during a meeting, and warned that “false bravado” by constitutional authorities was not acceptable.

Her remarks came against the backdrop of the Election Commission’s full bench meeting with senior administrative and police officials of the state earlier in the day, to review preparedness for the West Bengal assembly elections likely to be held in April.

Speaking from the site of her dharna in Kolkata against the Special Intensive Revision (SIR) of electoral rolls, Banerjee alleged that the CEC had adopted a threatening tone towards the state bureaucracy.

“The CEC threatened our officers today at the meeting. I want to tell the CEC that having courage is good, but false bravado is not good,” she asserted.

According to officials, Kumar said during the meeting that any lapse in maintaining law and order before the elections would not be tolerated, and strict action would follow if responsibilities were not discharged properly.

With exporters facing a surge in sea freight of up to 300 per cent due to the West Asia crisis, Federation of Indian Export Organisations (FIEO) has been decided to increase the number of small vessels operating between India and Gulf countries from April 15 to help clear consignments.

In a meeting with the DG (Shipping), around 400 exporters’ flagged issues they are facing due to the crisis, triggered by the US and Israel joint attack on Iran, FIEO director general Ajay Sahai said.

He said that the war has led to a significant jump in freight due to an additional contingency surcharge being imposed by foreign shippers.

"The surcharge ranges between USD 1,500 and USD 4,000. There is an increase of 300 per cent in sea freight. Air fares too have increased. For example, between Kolkata and the Middle East, the charges have increased from Rs 190 per kg to 430 per kg," he added.

Sahai also said that they held a meeting with the RBI to address the bank-related problems of exporters.

Due to the war, exporters will not get their payments on time. "If payment gets delayed, exporters face problems in getting interest subvention benefits, and banks impose penal interest. We have requested redressal of these issues as the RBI can give directions to banks," he said

Shares of oil marketing companies and paint manufacturers ended lower on Monday (March 9) amid a sharp rally in crude oil prices due to the deepening conflict in West Asia, which has entered the second week.

Market analysts said that oil marketing companies came under pressure as higher crude prices threaten to squeeze their refining and marketing margins.

The stock of Bharat Petroleum Corporation Ltd dropped 6.12 per cent, Hindustan Petroleum Corporation Ltd tanked 5.05 per cent, and Indian Oil Corporation declined 4.30 per cent on the BSE.

Brent crude, the global oil benchmark, surged 14.17 per cent to USD 105.9 per barrel.

Shares of Shalimar Paints tumbled 4.18 per cent, Indigo Paints dropped 3.83 per cent, Asian Paints fell by 2.75 per cent, Kansai Nerolac Paints declined 2.09 per cent, and Berger Paints lost 1.88 per cent.

With crude oil prices surging past USD 100 a barrel for the first time since 2022, G7 finance ministers are expected to discuss a possible release of emergency oil reserves, according to media reports. At least three G7 countries, including the United States, have expressed support for the move.

An emergency meeting of the International Energy Agency’s (IEA) 32 member nations is scheduled for 8:30 a.m. New York time to assess the impact of the Iran conflict on global energy markets. The IEA maintains strategic petroleum reserves as part of an emergency mechanism designed to help countries manage oil supply shocks and price spikes.

US officials believe a coordinated release of about 300 million to 400 million barrels could be appropriate — roughly 25 per cent to 35 per cent of the agency’s total 1.2 billion barrels of reserves.

Meanwhile, the European Union’s oil and gas supply coordination groups are also set to meet on Thursday (March 13) to monitor the conflict’s potential impact on the bloc’s energy supplies. EU member states are required to maintain oil reserves equivalent to at least 90 days of consumption.

Global markets have already begun reacting to the escalating tensions. Oil prices climbed while stock markets in Asia, the UK and mainland Europe fell on Monday as fears of supply disruptions intensified. Brent crude, the international benchmark, jumped as much as 29 per cent to USD 119.50 a barrel in early trading — its highest level in four years.

The spike in prices follows attacks on at least five energy facilities in and around Tehran. In response, Iran blocked the Strait of Hormuz, a critical shipping route through which roughly one-fifth of the world’s oil and seaborne gas supplies typically pass.

Iran's judiciary reiterated that it can order the assets of “enemies” abroad seized in the country.

It made the announcement on Monday on the judiciary's Mizan news agency.

Reporters for Farsi-language media abroad have seen their assets seized over the years.

The report also said “any intelligence or espionage activity conducted abroad for the Israeli or US governments “could lead to the confiscation of all assets and even the death penalty.”

Turkiye has deployed six F-16 jets and air defence systems to the Turkish-Cypriot part of the divided island of Cyprus to bolster its security, the defence ministry said.

A ministry statement said Monday that additional measures would be taken if deemed necessary.

A British air base on Cyprus' southern coastline was hit by a drone last week.

Ankara maintains some 30,000 troops in northern Cyprus, which broke away from the Greek south in 1974. Turkiye is the only country to recognise the northern administration.

South Korea says it will cap oil prices for the first time since 1997 to stabilise soaring fuel costs driven by the war.

Kim Yong-beom, the presidential policy chief of staff, said in a briefing on Monday that Seoul plans to introduce the caps sometime this week.

The move will help make fuel prices more predictable and prevent refineries and gas stations from raising prices “abnormally,” Kim said.

The Korea National Oil Corporation says it is holding several months' worth of strategic oil reserves at nine storage facilities across South Korea, a stockpile that exceeds the International Energy Agency's recommendation of 90 days.