Iran war casts shadow over 2026 FIFA World Cup with 100 days to go

by Hansraj Agrawal | Mar 4, 2026 | Business

FIFA World Cup 2026: An aerial view shows renovation work underway at Banorte Stadium, formerly known as Azteca Stadium, ahead of the 2026 FIFA World Cup. The iconic venue will host the opening match and become the first stadium in history to stage three World Cups (1970, 1986 and 2026). March 3 marks 100 days until the tournament, which will be co-hosted by the United States, Canada and Mexico.
| Photo Credit:
RAQUEL CUNHA

With 100 days to go until the World Cup, the Iran war has added a new layer of complexity to the tournament co-hosted by the United States, Mexico and Canada.

How the conflict will affect the world’s most-watched sporting event is the latest issue facing organisers already grappling with cartel violence in one of Mexico’s host cities, scaled-back plans for fan festivals in the US and criticism from fans against soaring ticket prices.

Officials of the qualified teams are meeting with FIFA staff in Atlanta this week. The tournament kicks off on June 11 when Mexico plays South Africa in Mexico City. It will be the biggest World Cup ever with 48 participating teams, up from 32 at the previous tournament in Qatar.

Here’s a look at some of the issues drawing scrutiny as the countdown began.

A backdrop of geopolitical tension

It’s not unusual for international politics to overshadow a global sports event like the World Cup — at least in the early stages before the soccer action takes over the headlines.

In 2022, Qatar’s treatment of migrant workers and the LGBTQ+ community drew headlines off the field. LGBTQ+ rights, the annexation of Crimea and the poisoning of a spy in Britain were in focus when Russia hosted the tournament in 2018.

In Brazil in 2014 and South Africa in 2010 there were concerns about crime and security.

The 2026 tournament looks set to kick off amid a backdrop of political tensions involving the US and the participating nations.

Many have been hit by tariffs. Some are facing travel restrictions. Denmark, which can still qualify through playoffs in March, has been shaken by President Donald Trump’s calls for the US to take over Greenland. And with 100 days to go, the US was in a military conflict with Iran, one of the first teams to qualify.

Iran’s status at the World Cup is unclear

Iran is set to play two group stage games in Inglewood, California, and one in Seattle.

However, whether the Iranian team will come to the US is uncertain.

“What is certain is that after this attack, we cannot be expected to look forward to the World Cup with hope,” Iran’s top soccer official, Mehdi Taj, said last weekend as the US and Israel launched coordinated attacks that killed Supreme Leader Ayatollah Ali Khamenei and dozens more senior officials.

Still, Iran has not announced it is withdrawing from the tournament, which no team that qualified has done in the past 75 years. Iran, the second-highest ranked team in Asia, was drawn in a group with Belgium, Egypt and New Zealand.

FIFA did not immediately respond to a request on whether Iran federation officials attended the Atlanta workshop.

Fan festivals are being slimmed down

Fan festivals have been a key part of the World Cup experience in the past two decades. They offer a chance for thousands of fans without match tickets to take part in the World Cup atmosphere by coming together to watch games on a big screen.

Some of those plans are now being scaled back in the US.

New York/New Jersey eliminated its Fan Fest in Jersey City, New Jersey, even though it had started selling tickets for an event scheduled to be open every day of the tournament.

Planning to sell tickets was itself unprecedented for World Cup fan zones, which were free to enter since being launched at the 2006 edition in Germany.

Seattle cut down its original plan and rescheduled it for smaller venues and Boston trimmed its event to 16 days.

The chief operating officer of Miami’s FIFA World Cup host committee said during a congressional hearing on Feb 24 that it might cancel its event if it did not receive federal funding within 30 days. Kansas City, Missouri, Police Deputy Chief Joseph Maybin said the city had an immediate need for federal funds to prepare security.

House Republicans said federal money may be held up by the partial government shutdown of the Department of Homeland Security, caused by Democrats insisting restrictions be placed on Immigration and Customs Enforcement agents.

Foxborough games threatened

The New England Patriots’ stadium in Foxborough, Massachusetts, is due to host seven World Cup games, starting with Haiti-Scotland on June 13 and ending with a quarterfinal on July 9. That is FIFA’s plan.

The Select Board of Foxborough has refused to issue a permit for World Cup matches at the stadium and set a March 17 deadline to be paid USD 7.8 million — what the town estimates will be the cost of police and other expenses. Foxborough said it was not part of FIFA’s hosting agreement with Boston.

Pushback against FIFA’s ticket prices

FIFA has about 7 million seats to fill for the World Cup matches and said last month it received 500 million ticket requests. FIFA president Gianni Infantino has proclaimed all 104 games are sold out and yet some fans received emails last week offering an extra 48-hour window for tickets sales.

FIFA’s prices in December ranged up to USD 8,680 per ticket. After criticism, FIFA said it will offer a few hundred USD 60 tickets for every game to the 48 national federations in the tournament. Those federations will decide how to distribute them to their most loyal fans who attended previous games.

Most seats on FIFA’s ticket resale platform — seeking to cut out the secondary market and earn FIFA extra 15 per cent fees from buyers and sellers — are well past the USD 1,000 mark.

Cartel violence in Mexico

Mexico’s ability to co-host the World Cup has been under scrutiny after a surge in violence last week in the state of Jalisco following the military’s killing of a powerful cartel boss.

The state’s capital, Guadalajara, is set to host four matches during the group stage.

Mexico’s government insists the World Cup won’t be affected, and President Claudia Sheinbaum said there’s no risk for fans coming to the tournament.

Infantino told Sheinbaum that he has full confidence in Mexico as a World Cup host.

The FIFA leader has repeatedly promised the 2026 World Cup will be the greatest and most inclusive.

Published on March 4, 2026

Source link

Trump reviews tanker insurance and energy measures as Iran conflict drives oil surge

by Hansraj Agrawal | Mar 4, 2026 | Business

Treasury Secretary Scott Bessent and Energy Secretary Chris Wright are expected to present proposals that may include government-backed insurance support for oil tankers operating in high-risk zones.
| Photo Credit:
YORUK ISIK

U.S. President Donald
Trump will review a set of policy options on Tuesday aimed at
controlling energy prices amid the escalating Middle East
conflict, including a proposal for the ‌government to help oil
tankers in the region obtain insurance, two sources said.

Global crude oil prices have spiked ⁠since Israeli and
U.S. forces began striking Iran over the weekend, leading to
fighting that has interrupted Middle East oil tanker shipments.

Treasury Secretary Scott Bessent and ‌Energy Secretary Chris
Wright are expected to meet with Trump on Tuesday afternoon to
present a list of proposals ‌to address the issue and finalize a
response, the sources said ‌on ⁠condition of anonymity.

Trump has made lowering energy prices ⁠a centerpiece of his
economic messaging, arguing that cheaper fuel is key to easing
inflation and supporting consumer spending.

The war with Iran threatens to drive prices up, potentially
undermining Republicans’ efforts to retain power ‌in the U.S.
midterm elections in November.

Oil shipments have been largely blocked through the Strait
of Hormuz, a narrow waterway between Iran and Oman through which
around a fifth of the world’s oil ‌is shipped, with a number of
tankers damaged by strikes and others stranded.

Shipping companies and insurers have begun reassessing
their exposure to the region, with war-risk premiums rising
sharply ⁠and some providers scaling back or withdrawing coverage
altogether, industry sources say.

Those higher insurance costs – often passed on to
charterers and ultimately consumers – have ‌made it more
expensive for tankers willing to risk transiting the area,
prompting some operators to delay voyages or seek alternative
routes.

U.S. support for tanker insurance is not unprecedented.
During the Iran-Iraq conflict in the 1980s, Washington reflagged
tankers and provided naval escorts when private insurers
withdrew coverage. After the September 11, 2001, attacks, the
U.S. issued insurance policies ‌to keep shipping moving amid
elevated war-risk premiums.

Secretary of State Marco Rubio told reporters on Monday the
U.S. has a “program in place” to fight rising energy prices and
that it would be implemented ⁠by Wright and Bessent.

“Starting tomorrow you will see us rolling out those ⁠phases
to try to mitigate against that,” Rubio said, without providing
details.

The administration has been reluctant to tap the nation’s
Strategic ‌Petroleum Reserve, but officials could signal as early
as Tuesday that they are prepared to use it if prices continue
to climb, one source said.

Published on March 4, 2026

Source link

Arjun Tendulkar’s pre-wedding celebrations turn star-studded affair

by Hansraj Agrawal | Mar 3, 2026 | Business

Cricketer Arjun Tendulkar and Saaniya Chandhok, center, during their mehendi and sangeet ceremony, in Mumbai, Tuesday, March 3, 2026. Cricketer Sachin Tendulkar, left, his wife Anjali Tendulkar, third left, daughter Sara Tendulkar, second left, and others are also seen.
| Photo Credit:
PTI

Pre-wedding festivities have kick-started ahead of cricket legend Sachin Tendulkar’s son, Arjun’s wedding and the celebrations are already turning into a star-studded affair. On Tuesday, the family came together for a pre-wedding ceremony with high-profile guests and cricket icons like Zaheer Khan, Harbhajan Singh, and Ravi Shastri bringing in more glamour to the evening.

Tendulkar Family Spotlight

Mumbai: Cricketer Arjun Tendulkar and Saaniya Chandhok during their mehendi and sangeet ceremony, in Mumbai, Tuesday, March 3, 2026.
| Photo Credit: PTI

The Tendulkar family clearly stole the spotlight as Sachin Tendulkar, his wife Anjali Tendulkar, daughter Sara and son Arjun posed together for the media in stunning traditional ensembles. Sachin Tendulkar chose a bright green kurta-pyjama set, which he paired with a printed jacket, while his wife Anjali went for a gorgeous blue outfit. She completed the look with heavy jewellery. Sara Tendulkar looked glowing and beautiful in a pink lehenga.

Bride Joins Festivities

The soon-to-be bride, Saaniya Chandhok, also joined the frame as she arrived with her family members for the celebrations. Saaniya opted for a pastel lehenga, looking pretty and adorable.

Cricket Fraternity Presence

As the evening unfolded, former Indian cricket star Zaheer Khan arrived for the pre-wedding celebrations with his wife, actress Sagarika Ghatge. The couple appeared joyous as they happily posed for the cameras. Harbhajan Singh was also spotted joining the family with his wife, Geeta Basra. Later in the evening, Irfan Pathan also arrived with his wife, Sara Baig. Among other high-profile guests were Ravi Shastri, Yuvraj Singh and his wife Hazel Keech, and Maharashtra Navnirman Sena (MNS) chief Raj Thackeray, along with his family.

Political Dignitaries Invited

Earlier in February, Sachin Tendulkar and Anjali Tendulkar met Maharashtra Deputy Chief Minister Eknath Shinde at his official residence, Nandanvan, in Mumbai and extended an invitation for the wedding ceremony of his son.

Sachin Tendulkar has also extended invitations to President Droupadi Murmu, Prime Minister Narendra Modi, Union Home Minister Amit Shah and Leader of the Opposition in the Lok Sabha Rahul Gandhi for the wedding celebrations. Arjun and Saaniya got engaged in August last year.

Published on March 3, 2026

Source link

Iraq reduces oil output, more cuts to come if Hormuz disruptions persist, Iraqi oil officials say

by Hansraj Agrawal | Mar 3, 2026 | Business

Iraq has cut oil production by nearly 1.5 million barrels a day and those cuts could widen to more than 3 million ‌bpd within days as the country runs out of storage and cannot export crude due to the Iran ‌crisis, two Iraqi oil officials told Reuters on ‌Tuesday.

As ⁠of Tuesday, Iraq has cut production from the ⁠Rumaila oil field by 700,000 bpd, from the West Qurna 2 field by 460,000 bpd and from the Maysan field by 325,000 bpd, the officials, who did not wish to ‌be named, said.

That output cut could grow to over 3 million bpd if oil tankers cannot move freely through the Strait of Hormuz and reach loading ports, they added.

Export ‌disruptions from the Strait of Hormuz slowdown pushed storage to critical levels in Iraq’s southern ports, the sources said.

Iraq produced about 4 million bpd in ⁠January.

The Maysan field was producing 650,000 bpd prior to the cut, the officials said.

The US-Israeli war with Iran has halted ‌energy exports from the Middle East, with Tehran attacking ships and energy facilities, closing navigation in the Gulf and forcing production stoppages from Qatar to Iraq.

Traffic through the Strait of Hormuz was closed for a fourth day after Iran attacked five ships, choking off a key artery accounting for about 20 per cent of global oil and liquefied natural gas supply.

China and India are the two biggest recipients of Iraqi crude exports, accounting for nearly two-thirds of the OPEC member’s 3.33 million bpd ⁠average exports in 2025, according to Kpler data, with a further ⁠560,000 bpd going to Europe.

BP, PetroChina and China National Offshore Oil Corporation, which operate the fields in Iraq, ‌did not immediately respond to requests for comment.

Published on March 3, 2026

Source link

Mutual funds take a shine to bank stocks

by Hansraj Agrawal | Mar 3, 2026 | Business

The robust fundamentals of the banking sector is reflected in the performance of the bank stocks with the Nifty Bank Index appreciating 24 per cent over a one-year period

The banking sector’s robust health, signified by healthy credit growth, improving asset quality, stable profitability and stake-buys by foreign banks and institutions in private sector banks, has prompted mutual funds to increase their weightage in the sector, leading to significant rise in their stakes in various banks over the last one year.

The banks in which MFs have increased their shareholding by more than 1 per cent between December 2024 and December 2025 include AU Small Finance Bank (SFB), Axis Bank, Bandhan Bank, Equitas SFB, Bank of Maharashtra, Federal Bank, HDFC Bank, ICICI Bank, IDFC First Bank, Kotak Mahindra Bank, RBL Bank, South Indian Bank, State Bank of India and Ujjivan SFB, according to data sourced from primeinfobase.com.

“Overall, the banking system is doing very well with non-performing assets (NPAs) at multi-decade lows and improving credit growth. The RBI’s Financial Stability Report highlights revival in credit demand. Some sectors like MSMEs, retail and segments of the corporate sector are borrowing more, “ said VK Vijayakumar, Chief Investment Strategist, Geojit Investments.

“This impressive credit growth along with better asset quality is expected to result in impressive profit numbers, going forward. Tier-2 banks had reported better Q3 results and this trend is expected to continue,” he said.

Bank stocks sizzle

The robust fundamentals of the banking sector is reflected in the performance of the bank stocks with the Nifty Bank Index appreciating 24 per cent over a one-year period.

“Considering the sustained financial performance of Banks, their stock valuations are very attractive. MFs participated in the QIPs (qualified institutional placements) of some of the banks. Funds are also re-directing their investments from IT stocks to bank stocks,” said Mangesh Kulkarni, Head — Portfolio Management Services, Almondz Financial Services.

The substantial increase in MFs’ stake in Equitas SFB and Ujjivan SFB comes in the wake of AU SFB receiving the RBI’s in-principle approval in August 2025 to convert into a universal bank. MFs’ stake in AU SFB has gone up 5.5 percentage points/pp since December-end 2024 to 22.61 per cent as at December-end 2025.

MFs’ stake in Equitas SFB amd Ujjivan SFB rose 7.7 pp (to 45.20 per cent as at December-end 2025) and 19.99 pp (to 23.82 per cent), respectively.

The 22 pp jump in MFs’ stake (to 34.44 per cent) in RBL Bank comes in the backdrop of Emirates NBD Bank’s decision to acquire controlling stake in the former through a primary infusion of about $3 billion (₹ 26,850 crore).

MFs upped their stake in IDFC First Bank (up 6.37 pp to 10.93 per cent) and Federal Bank (up 2.25 pp to 37.78 per cent).

During the current financial year, the arms of Warburg Pincus and ADIA acquired about 9.45 per cent (for ₹4,876 crore) and 5 per cent stake (₹2,624 crore), respectively, in IDFC First Bank. Further, one of Blackstone’s funds has invested ₹6,196.5 crore in the warrants of Federal Bank, translating into a shareholding of 9.89 per cent.

Among public sector banks, MFs have preferred Bank of Maharashtra, upping their stake by 4.47 pp to 5.32 per cent. SBI is the only other PSU Bank in which MFs have increased their shareholding by more than 1 per cent (up 1.41 pp to 13.64 per cent).

Published on March 3, 2026

Source link

Summer crops area a tad lower from year-ago, likely to inch up on rain forecast

by Hansraj Agrawal | Mar 3, 2026 | Business

Higher area under groundnut, bajra could not help summer acreage to continue the early lead over year-ago as both paddy and maize crops’ acreage is lower this time. It is to be seen if farmers shift to pulses, particularly to urad, as per the government plan, when all thrusts are on crop diversification.

The data of sowing under summer crops, which will end by May, has reached 26.53 lakh hectares (lh) as on February 27, which is 3 per cent less than 27.42 lh reported in the year-ago period. The zaid season sowing is progressing well, the government said, as reservoir levels are 12 per cent more now than year-ago. Zaid crop is grown before kharif sowing and after rabi harvest.

Summer crop areas, were earlier included under Kharif or Rabi season, but the government a few years back decided to start collating the data separately. The last five year’s average coverage under summer crops is 75.37 lakh hectares whereas the area reached an all time high of 83.92 lh in 2024-25. The share of summer crops was 19.11 million tonnes (mt) or 5.3 per cent in the total food grains production of 357.73 mt in 2024-25.

According to weekly update released by Agriculture Ministry, paddy sowing was down 7 per cent at 21.80 lh from 23.45 lh while nutri/coarse cereals areas up at 1.88lh against 1.68 lh year-ago. Among the nutri/coarse cereals, maize area is down at 1.33 lh from 1.36 lh, while bajra has reached at 0.31 lh against 0.21 lh, ragi at 0.17 lh and jowar at 0.06 lh until February 27.

Area under summer pulses reached 1.15 lh from 1.03 lh, in which coverage of greengram (moong) reached at 0.73 lh, and blackgram (urad) at 0.32 lh. The key growers of summer pulses are Madhya Pradesh, Bihar, Odisha, Tamil Nadu, Uttar Pradesh and Gujarat. Summer pulses are key to offset when there is a fall in Kharif crops. In 2025-26 Kharif pulses production has been estimated at 7.41 mt from 7.73 mt in 2024-25.

Madhya Pradesh, the main producer of summer moong, recently announced a bonus on the urad crop grown in summer. Announcing the bonus of ₹600 per quintal over and above the Minimum Support Price (MSP) of Rs 7,800/quintal for urad, the state government said that the step is aimed at encouraging farmers to shift from moong during the summer (zaid) season.

But despite tall promises, farmers of Madhya Pradesh complained about not receiving MSP for their urad in Kharif season. During the key Kharif harvesting season (October-December) of 2025-26, farmers in Madhya Pradesh on on an average had sold their urad at agriculture market yards (Mandis) 26 per cent below MSP at Rs 6,181/quintal, according to Agmarknet portal.

Oilseeds area in this summer season is also higher at 1.69 lh from 1.26 lh and it includes groundnut at 1.33 lh and sesamum at 0.26 lh.

Meanwhile, according to the Central Water Commission (CWC), storage dropped to 59 per cent or 108.338 billion cubic metres (BCM) of the 183.565 BCM capacity as of February 26. The CWC’s weekly bulletin on the storage in the major reservoirs said the level was 12 percentage points higher than last year and over 25 percentage points more than normal (last 10 years). The level in all five regions dropped below 70 per cent whereas only 3 reservoirs were brimming.

Published on March 3, 2026

Source link

« Older Entries

Next Entries »

Times Top News

Times Top News