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New Delhi: Oman, India's oldest strategic partner in the Gulf and a key player in ensuring stability in the Strait of Hormuz, has launched the Muscat Plan, a peace initiative tabled at the United Nations to prevent conflicts amid concerns over the economic fallout from the Iran war.The initiative aims to prevent conflict, counter hate speech and promote dialogue-based approaches to peacebuilding. It reflects Oman's long-standing commitment to peace, coexistence and mutual understanding through dialogue and international cooperation, a senior Omani official said.The plan is expected to deepen cooperation between Oman and international organisations working on conflict prevention, mediation and social development. Oman had been mediating between the US and Iran before Washington launched strikes on Tehran on February 28, triggering a conflict that disrupted energy supply chains. Over the years, the Gulf state has pursued quiet diplomacy to help defuse tensions across West Asia.Al...

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New Delhi: The Supreme Court on Monday suggested warring Kalyani siblings to explore mediation to resolve their long-standing dispute related to distribution of ancestral wealth and promoter stakes in listed companies, including flagship Bharat Forge. The assets are estimated to be worth more than Rs 1 lakh crore.A bench led by Chief Justice Surya Kant asked the parties to “take instructions on mediation” and posted the matter for hearing on July 13.The siblings—Babasaheb N Kalyani, Sugandha Hiremath and Gaurishankar Kalyani—and their children have been engaged in protracted litigation over ancestral wealth with land spanning entire villages, jewellery weighing in kilograms and stakes in listed companies.Multiple litigations are pending before various fora, including suits for partition of joint family assets and probate proceedings.Also read | What Maruti-Suzuki can teach India-JapanChallenging the Bombay High Court’s May 4 decision that refused to send the dispute for mediation, Suga...

New Delhi: LIC CEO and MD R Doraiswamy has said that despite rising competition in the life insurance sector, the Corporation will stay focused on strengthening its leadership position while contributing to the national development as it heads toward its platinum jubilee. Insurance behemoth LIC alone commands close to 60 per cent market share in the life insurance segment and manages assets of over Rs 57 lakh crore. It has real estate properties valued at around Rs 60,000 crore. The story of Life Insurance Corporation of India (LIC), which completed its 70th year of existence, is inseparable from the story of India. "As the economy grows, LIC grows. LIC growth helps the economy grow. So, it has been a synergetic kind of relationship that LIC has been having," he told PTI in an interaction. Reflecting on the organisation's remarkable journey since its inception in 1956, he said that LIC's growth has always been closely intertwined with India's development. Built on...