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US President Joe Biden has warned Iran against getting involved in Israel-Hamas war.

Israel-Hamas war: Joe Biden warns Iran against getting involved in conflict

US President Joe Biden has warned Iran against getting involved in the Israel-Hamas war.

US President Joe Biden has warned Iran against getting involved in the ongoing conflict between Israel and Hamas.
According to Reuters, the American president, while peaking to Jewish community leaders, said that the deployment of warships and aircraft in the Mediterranean Sea closer to Israel should be seen as a signal to Iran.
Biden said the US has made it clear to the Iranians that they should be careful. At least 22 US citizens have been killed in the conflict so far.
Also watch: <a href="https://www.editorji.com/world-news/hamas-israel-war-number-of-us-citizens-killed-in-israel-hamas-war-rises-to-22-1697076520827">Hamas-Israel war | Number of US citizens killed in Israel-Hamas war rises to 22</a>

India supplies paracetamol to injectables and therapies to countries including The UAE, Qatar, Saudi Arabia, Egypt, and Bahrain

Israel-Hamas War: Billions of Dollars worth Indian Pharma export may get impacted

<h2>India supplies paracetamol to injectables and therapies to countries including The UAE, Qatar, Saudi Arabia, Egypt, and Bahrain</h2>

Israel-Hamas war:&nbsp;The ongoing war between Israel and Hamas may affect the Indian Pharmaceutical Industry by disrupting exports to several countries in the Middle East and North Africa (MENA) region.
<h3>Pharma Export</h3>
Economic Times quoted Pharma Industry experts and said that if the war continues beyond two weeks, it is likely to dent the flow of pharma exports to the region, and countries nearby. Indian Pharma products are majorly exported to countries like The UAE, Qatar, Saudi Arabia, Egypt, and Bahrain.
&ldquo;India&rsquo;s exports amount to a billion dollars per year in these countries,&rdquo; one of the experts told Economic Times. The expert further added that the war would impact flight services to these countries and subsequently hit pharma exports from India.
Also Read: <a href="https://www.editorji.com/business-news/israel-hamas-war-adani-s-haifa-port-staff-on-high-safety-alert-1696854270987">Israel-Hamas War: Adani's Haifa port staff on high safety alert</a>
India does not have major exports to the Gaza strip and Israel is self-sufficient in terms of Pharma and so the regions to which exports will get impacted will be MENA region.&nbsp;
&ldquo;The entire spectrum of the industry-small, medium and large-scale industry-is going to get impacted if the situation continues,&rdquo; an expert at a pharma advocacy group told Economic Times.
India supplies paracetamol to injectables and therapies to these countries in bulk.
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Google has 2 companies and over 2,000 employees in Israel. Google's CEO has said it is working to provide reliable, accurate information to people who use Google products. Check here for more details here.

Israel-Hamas War: Google CEO Sundar Pichai reaches out to employees in Israel

Google that has 2 companies and over 2,000 employees in Israel has said it is working to provide reliable, accurate information to people who use Google products

<h2>Google that has 2 companies and over 2,000 employees in Israel has said it is working to provide reliable, accurate information to people who use Google products</h2>

Israel-Hamas war:&nbsp;Google CEO Sundar Pichai reached out to every employee in a company wide email after the war outbreak between Israel and Hamas. In a mail, he reassured them that the company had successfully established contact with employees either working in or travelling to Israel and would continue providing support.
<h3>Sundar Pichai on X</h3>
Pichai also posted on X, formerly Twitter, expressing his deep sadness about the escalating conflict. He further stressed that the safety of Google's employees is the top priority. According to Pichai's post, Google has 2 offices and over 2,000 employees in Israel.&nbsp;
<blockquote class="twitter-tweet">
Deeply saddened by the terrorist attacks in Israel this weekend and the escalating conflict underway. Google has 2 offices and over 2,000 employees in Israel. It&rsquo;s unimaginable what they&rsquo;re experiencing. Our immediate focus since Saturday has been on employee safety. We&rsquo;ve now&hellip; <a href="https://t.co/VCiboq9oN8">https://t.co/VCiboq9oN8</a>
&mdash; Sundar Pichai (@sundarpichai) <a href="https://twitter.com/sundarpichai/status/1711814868985413907?ref_src=twsrc%5Etfw">October 10, 2023</a></blockquote>
<h3>Google CEO Pichai's Mail to Employees in Israel</h3>
This is what the Google CEO wrote in the mail.
I&rsquo;m sure by now you&rsquo;ve all seen the news of the terrible attacks on civilians in Israel, and the escalated conflict now underway.
Google has two offices and more than 2,000 employees in Israel, and it&rsquo;s unimaginable what they are experiencing right now. Our priority is making sure that every Googler in the area is accounted for and safe &mdash; beyond our employees based locally, we have identified more who were traveling there. GSRS is continuing safety checks as we speak &mdash; locating every employee and ensuring they have the best security information we can offer from our experts. We&rsquo;ve spent today connecting with most of them, but it will take some time to reach everyone.
Also Read: <a href="https://www.editorji.com/business-news/israel-hamas-war-wipro-tcs-account-for-employees-safety-in-israel-1696933074521">Israel-Hamas War: Wipro, TCS account for employees safety in Israel</a>
<h3>Cyber Security</h3>
Google's spokesperson in a statement said that the firm is working to provide reliable, accurate information to people who use Google products. The systems across Google and YouTube prioritize authoritative information in moments of crisis and breaking news. Google's cybersecurity experts are also sharing their findings in real time with the broader security community.
Google has also assured support to humanitarian and relief organizations on the ground

Crude has already spiked as much as five per cent on fears that the Israel-Hamas war may escalate even further

Israel-Hamas war spikes Oil and Gold prices: Impact on India

<h2>Crude has already spiked as much as five per cent on fears that the Israel-Hamas war may escalate even further</h2>

The ongoing conflict between Israel and Hamas has sent shockwaves through the world. What started as a surprise attack has quickly escalated into a multifaceted crisis. In the wake of this, nations grapple with the complexities of trade, commodity prices, and economic stability. What are the immediate economic ramifications of the conflict and the potential impact on the Indian economy? Impact on the Indian Economy&nbsp; According to the Embassy of India in Israel, trade between the two countries stood at $10.1 billion in the financial year 2022-23. That fiscal year, Indian merchandise exports to Israel were valued at $7.89 billion and Israeli exports to India were $2.13 billion. Israel is the third-largest Asian trade partner of India and 10th overall. Israel is one of India's top military equipment suppliers. The war between Israel and Palestine, especially a prolonged one, could significantly impact the trade agreement it holds with India.&nbsp;&nbsp; The Indian rupee has already weakened against the US dollar due to rising geopolitical tensions. Experts believe that if the conflict continues to escalate, it could lead to a further weakening of the Indian rupee.&nbsp; In case the war intensifies, India has to tread cautiously as it is part of the India-Middle East-Europe economic corridor. Also Watch: <a href="https://www.editorji.com/world-news/intelligence-lapse-led-to-massive-hamas-offensive-on-israel-1696760966391">Intelligence lapse led to massive Hamas offensive on Israel?</a>
Impact on Global Oil Prices
Although Israel and Palestine are not major oil players, the violent conflict is happening in a broader key oil-producing region. Crude has already spiked as much as five per cent on fears that the Israel-Hamas war may escalate even further. However, as crude traders quoted by CNBC said they don&rsquo;t expect a massive price surge as there&rsquo;s no immediate threat to supply. They also added that broader repercussions of the Israel-Hamas conflict are expected to remain relatively limited. As of this morning, oil prices surged over $3 a barrel in early Asian trade due to the conflict
Effect on Gold Prices
Gold prices have been rising due to the escalating conflict. The precious metal is considered a safe-haven asset during times of geopolitical uncertainty. The price of gold has risen by more than 2% since the start of the conflict. According to experts, if the conflict continues to escalate, gold prices could rise even further.
Impact on Maritime Routes
The ongoing conflict between Israel and Hamas has also impacted import-export through sea routes. The conflict has led to the closure of ports in Israel, which has disrupted maritime trade in the region. The ports of Ashdod and Haifa have been closed due to security concerns. This has led to a delay in shipments and a rise in shipping costs. The closure of ports is expected to have a significant impact on global supply chains, which could lead to a rise in prices of goods across various sectors. The impact of the conflict on maritime trade is expected to be felt across various regions, including Asia, Europe, and North America.
Also Watch: <a href="https://www.editorji.com/business-news/air-india-cancels-tel-aviv-flights-amid-escalating-tensions-in-israeli-report-1696688519541">Air India cancels Tel Aviv flights amid escalating tensions in Israel: Report</a>
If the conflict continues to escalate, it could lead to further economic instability across the globe.&nbsp;
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In response to the attack, major airlines, including American, Air France, Lufthansa, and Emirates, cancelled Tel Aviv flights. Multiple airlines suspended flights until conditions allow safe resumption

Israel-Hamas war: Major airlines suspend Tel Aviv operations amidst tensions

<h2>In response to the attack, major airlines, including American, Air France, Lufthansa, and Emirates, cancelled Tel Aviv flights. Multiple airlines suspended flights until conditions allow safe resumption</h2>

In response to the surprise attack by Hamas on Israel, several major airlines, including American Airlines, Air France, Lufthansa, Emirates, and Ryanair, quickly cancelled their flights to Tel Aviv. This decision was made in the interest of passenger safety and followed the escalation of hostilities in the region.
Amidst these cancellations, El Al, Israel's national carrier, continued limited operations, adhering strictly to the instructions of Israeli security forces. To accommodate travellers, El Al shifted all departing flights to Terminal Three at Ben Gurion Airport, ensuring a unified and secure departure process.
Meanwhile, in Athens, the foreign ministry diligently worked to repatriate Greek tourists from Israel, with a significant number of them scheduled to return on El Al flights.&nbsp;
Spain's AENA airport operator reported cancellations affecting flights from Madrid and Barcelona. Air Europa cancelled its Madrid-Tel Aviv flights, while Iberia Express proceeded with a limited operation after temporarily suspending two flights due to security concerns.
Other airlines such as Vueling, Lufthansa, Air France, and Transavia also suspended flights, emphasizing the current security situation as their primary concern. Italy's ITA Airways and Polish carrier LOT took similar precautions, prioritizing passenger and crew safety.
United Airlines, in coordination with Israeli authorities, managed to operate a few scheduled flights from Tel Aviv, ensuring the safety and well-being of passengers, crew, and airport employees.
Additionally, Aegean, Swiss, Austrian Airlines, Wizz Air, and Air Canada also joined the list of airlines temporarily suspending flights, collectively prioritizing the security of travellers amidst the evolving conflict. These measures underscore the airline industry's commitment to passenger safety during periods of heightened geopolitical tension.
 Also Watch: <a href="https://www.editorji.com/business-news/air-india-cancels-tel-aviv-flights-amid-escalating-tensions-in-israeli-report-1696688519541">Air India cancels Tel Aviv flights amid escalating tensions in Israel: Report</a>

Investors are flocking towards Bonds and government securities amid a volatile market condition. The U.S, Italian, Spanish and Japanese bonds which has already seen an uptick last week is expected to go up

Israel-Hamas war: What it means for global market?

<h2>Investors are flocking towards Bonds and government securities amid a volatile market condition. The U.S, Italian, Spanish and Japanese bonds which has already seen an uptick last week is expected to go up</h2>

Israel-Hamas war:&nbsp; The unexpected escalation of the decades-long conflict between Israel and the Palestinian militant group Hamas on Saturday has significantly heightened the geopolitical risks for the markets.&nbsp;
Experts quoted by Economic Times say that the extent of the fallout in the days ahead will depend on the involvement of countries such as the US and Iran in the conflict, and the direction of oil prices.
<h3>Oil Prices Surge</h3>
Some believe that the surge in oil prices will be limited unless the US and Iran become parties in the conflict. Iran which is a big supporter of the Hamas group is a major oil producer. If U.S. and other developed countries put fresh sanctions on Iran, it will disrupt the oil supply leading to a price rise.
"Much will depend on whether the crisis turns out to be another short-term flare-up or something much bigger like a war between Israel and Iran,"Ed Yardeni, founder and chief investment strategist at Yardeni Research, a New York-based investment consultancy told Economic Times. "That's unlikely, but today's conflict will only escalate the tensions between these two adversaries. The price of oil may be a good way to assess the likelihood of a broader conflict."
Crude oil prices have already surged over 4% on Monday.
Also Read: <a href="https://www.editorji.com/business-news/markets/israel-hamas-war-nifty-sensex-slip-about-1-each-in-early-trade-investors-lose-nearly-4-lakh-crore-1696832710116">Israel-Hamas war: Nifty, Sensex slip about 1% each in early trade; investors lose nearly ₹4 lakh crore</a>
<h3>Fed Rate Hike Risk</h3>
Inflation in the U.S would stick for a longer period if the oil prices go up. This would in turn force the Federal Reserve Bank to increase the interest rate tying the hands of the investors. Elevated interest rates in the US make Indian equities less attractive for investors there.
"If oil prices go up further, US inflationary pressures would remain and cause US bond yields to cross 5%. That will not be taken kindly by the markets", Ritesh Jain, co-founder, Pinetree Macro told Economic Times.&nbsp;
<h3>Impact on global &amp; Indian markets</h3>
The Indian equity benchmark indices Nifty and Sense fell about 1% each during the early trade on Monday. "I would be more worried about the mid-cap and small-cap space if the geopolitical situation blows out of control," S Naren CIO, ICICI Prudential Asset Management told Economic Times Meanwhile, Israel equities plunged 5.8% while Saudi Arabia was down 1.7%, Kuwait and Qatar markets were trading weak.
On October 6, the 10-year US Treasury yields touched an intraday peak of 4.8%, highest seen since August 2007. The 30-year-long bond, too, breached the 5%-mark for the first time since August 2007.
Ritesh Jain, co-founder at Pinetree Macro wrote in LinkedIn a risk-off sentiment was seen across European peripheral bonds.
Italian 10-year yields were above 5% last week for the first time since 2012, whereas Spanish 10-year yields were above 4% for the first time since 2013. Separately, Japanese 10-year yields jumped above 80 bps last week, a feat seen for the last time in a decade.&nbsp;
<h3>Dollar upsurge</h3>
On October 9, the safe-haven dollar advanced 0.2% versus euro and pound, while risk currencies such as Aussie and kiwi weakened. The war could further lead to dollars upsurge.&nbsp;

Adani group in a statement has mentioned that the employees at Israel's Haifa port are in full alert and that the company has prepared a business continuity plan amid the Israel-Hamas war

Israel-Hamas War: Adani's Haifa port staff on high safety alert

<h2>Adani group in a statement has mentioned that the employees at Israel's Haifa port are in full alert and that the company has prepared a business continuity plan amid the Israel-Hamas war</h2>

Israel-Hamas war: Amid the ongoing war between Israel and Hamas, Adani Ports said that it is 'fully alert&rsquo; regarding the situation in Haifa port and taking measures to ensure safety of employees posted there.
"At a time like this, our thoughts continue to be with the people of Israel. We are closely monitoring the action on ground which is concentrated in South Israel, whereas Haifa port is situated in the North. We have taken measures to ensure safety of our employees and all of them are safe. We remain fully alert and prepared with a business continuity plan that will enable us to respond effectively to any eventuality", Adani Port said in a media statement.
<h3>Haifa's contribution</h3>
The statement said that Adani group is prepared with a business continuity plan. The statement further added that Haifa's contribution to Adani Ports' numbers is "relatively small" at 3% of the total cargo volume and that the group is confident of business performance.
"The overall contribution of Haifa in APSEZ&rsquo;s numbers is relatively small at 3% of the total cargo volume. For the current financial year (Apr 23-Mar 24), we have guided for Haifa Cargo volumes range of 10-12 MMT and APSEZ&rsquo;s total cargo volume guidance of 370-390 MMT. In the initial six months (Apr-Sep 23), APSEZ&rsquo;s total cargo volume was 203 MMT, of which the Haifa share is 6 MMT. We stay confident of APSEZ's business performance," said the Adani firm
The shares of Adani Ports and Special Economic Zone Ltd fell 5.09% on Monday's close.&nbsp;
<h3>Haifa Port</h3>
Adani operates the Haifa Port in northern Israel along with a local company. The group purchased the port for $1.03 billion in January. Haifa is one of the main seaports in Israel, where about 99% of all goods move in and out of the country by sea. This port is also one of the significant trading hub on the Mediterranean.

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