U.S. Allows Russian Oil Shipment to Cuba Amid Global Energy Disruptions
The United States has authorized a Russian‑flagged tanker, the Anatoly Kolodkin, to deliver between 650,000 and 730,000 barrels of crude oil to Cuba, temporarily easing a long‑standing de facto oil blockade. The move coincides with a broader, short‑term relaxation of Russia‑related sanctions aimed at stabilising global oil flows disrupted by the Iran conflict. For Cuba, the shipment offers a critical lifeline after three months of near‑zero imports and severe fuel rationing. Analysts view the decision as a pragmatic trade‑off between geopolitical pressure and energy‑security concerns.
Parmesan Exports Doing Grate... But Sales Melt in Italy
Parmesan Reggiano exports surpassed the 50% threshold last year, reaching nearly 75,000 tonnes, a 2.7% increase driven by stronger U.S. shipments that grew 2.3% despite a 25% tariff. Domestic sales in Italy fell 10% as the aging population cuts back...
China’s Property Crisis Is Starting to Look a Lot Like Japan’s Lost Decade
China’s housing market has entered a six‑year correction that mirrors Japan’s 1990s Lost Decade, with prices falling, construction slowing, and developers facing defaults. The sector once drove roughly one‑third of China’s GDP and now holds about 70% of household wealth,...
Uganda’s Merchandise Exports Surge 72% Driven by Gold and Coffee
Uganda’s merchandise exports jumped 72% year‑over‑year, reaching $1.45 billion in January 2026. The surge was driven primarily by a 182% rise in gold shipments, which alone generated $914 million, and strong coffee earnings. The country posted a $147 million trade surplus for the...
It's a Very Light Economic and Event Calendar in Asia Today. Bank of Japan 'Summary'.
The Bank of Japan left its short‑term interest rate unchanged at the March 18‑19 policy meeting and issued a “Summary of Opinions” documenting the board’s discussion. The summary outlines members’ views on domestic and global growth, inflation, employment, and the...
AGC's Data DIGest: March 23-27, 2026
The Middle East war is driving a 43 % surge in diesel prices and tightening supplies of oil, fuel, and petrochemicals, which in turn raises construction material costs and hampers investment planning. Construction spending held at $2.19 trillion in January, with private...
Middle East Tensions Disrupt Zimbabwe’s Gold Exports
Zimbabwe's gold exports are being hit by Middle East tensions that have disrupted key shipping routes. The United Arab Emirates, which accounts for 45% of Zimbabwe's gold export revenue, is affected as the Strait of Hormuz closure forces vessels around...
JPMorgan, Pimco Say Bond Market Is Underestimating Slowdown Risk
JPMorgan and asset manager Pimco warned that the bond market is downplaying the risk of a sharp economic slowdown triggered by the ongoing US‑Iran conflict. Crude oil has surged past $110 a barrel, intensifying inflation pressures. Traders have largely fixated...
Russia Was Expecting a Windfall From Soaring Oil Prices, but Relentless Ukrainian Drone Attacks Are Devastating Nearly Half Its Export...
Russia banked on a windfall after oil prices spiked when the Strait of Hormuz closed and the United States briefly eased sanctions on its crude. The surge lifted Urals prices near Brent, temporarily rescuing a revenue stream that had collapsed...
Commerce Minister Piyush Goyal to Visit Canada in May for Trade Talks
India’s Commerce and Industry Minister Piyush Goyal will travel to Canada in May 2026 to head a high‑level business delegation. The visit follows the launch of comprehensive economic partnership agreement (CEPA) negotiations on March 2, 2026, and aims to accelerate the...
Voice of Global South: India Bats Strongly to Shield WTO’s Core Mandates at MC14
India emerged as the lone dissenter among 166 WTO members, successfully blocking the China‑led Investment Facilitation for Development (IFD) agreement at the MC14 in Yaoundé. The move underscored New Delhi’s commitment to preserving the WTO’s consensus rule and protecting core...
EU Enlargement Rethink as Divisions Emerge Among Key Member States
The European Union’s next enlargement round faces a crossroads as member states clash over speed and criteria. A German Council policy paper highlights Germany’s shift toward geopolitically‑driven, merit‑based accession, while the EU rejected a fast‑track proposal for Ukraine, insisting on...
Netanyahu Orders Expansion of Security Buffer Zone in Southern Lebanon
Israeli Prime Minister Benjamin Netanyahu announced that the Israeli military will further expand the security buffer zone along the southern Lebanese border. The move aims to strengthen Israel's defensive posture amid rising cross‑border fire from Hezbollah. Netanyahu framed the expansion...
Markets Move to Price in Rate Hikes as Inflation Fears and Geopolitics Reshape Fed Expectations
Markets have shifted from expecting Federal Reserve cuts to pricing in rate hikes for 2026. The CME FedWatch Tool now shows about a 30% chance rates will end the year higher than the current 3.50‑3.75% range, while odds of cuts...
French Factory Closures Jump 30% on Asia Pressure, US Tariffs
French factory closures rose nearly 30% in 2025, with 160 plants shutting versus 121 in 2024. The surge is linked to intensified competition from Asian manufacturers, new US tariffs on European steel and aluminum, and higher energy costs. New factory...
Here Are the 3 Big Things We're Watching in the Stock Market in the Week Ahead
The market heads into a volatile week as the Iran‑Israel conflict sustains high oil prices and fuels inflation worries. Investors will focus on the March non‑farm payrolls, expected to add about 60,000 jobs, alongside ADP, JOLTS and consumer‑confidence releases. A...
Indonesia Cuts Free Meals to Save US$2.3 Billion as Fuel Prices Soar
Indonesia will reduce its free school‑meal programme from six to five days a week starting March 31, aiming to save roughly 40 trillion rupiah (about US$2.3 billion). The cut is part of a broader austerity push to shield the world’s largest Southeast Asian...
The Economics of War Extend Far Beyond Energy Prices and Stock Markets
The article argues that the economics of war reach far beyond energy prices and stock market swings, encompassing democratic war initiation, the military‑industrial complex, and Big Oil’s profit motives. It highlights recent research showing that populist nationalism in advanced democracies...
As Bitcoin Weakens Even ‘Safe’ Investments Like the 2-Year Treasury Are Starting to Crack
The U.S. Treasury auctioned $69 billion of 2‑year notes on March 24, achieving a 3.936% high yield. The bid‑to‑cover ratio slipped to 2.44, indicating weaker demand than the previous month. The softening reflects heightened inflation worries sparked by a Middle‑East oil shock...
Emerging Markets Rout Lures Contrarians Betting on Rate Cuts
Emerging‑market assets have entered their steepest monthly decline since 2022, with stocks down about 10% and local‑currency bond yields at two‑year highs. Asset managers TT International and AllianceBernstein are buying beaten‑down EM bonds, betting that central banks will cut rates...
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Understanding Producer Price Index: A Key Inflation Indicator
The Producer Price Index (PPI) measures price changes at the wholesale level, capturing the cost producers receive for goods and services. It is published monthly by the U.S. Bureau of Labor Statistics and is broken into crude, intermediate, and core...
Borderlands Mexico: USMCA Review to Reshape North American Supply Chains
Former U.S. Trade Representative Katherine Tai announced that the six‑year USMCA review will be a pivotal moment for North American trade, aiming to embed supply‑chain resilience, AI, climate and digital trade provisions. The review also focuses on automotive rules of...
Finance Ministry Flags Rising External Risks as Trade Deficit and CAD Expand
India’s external sector is under strain as merchandise exports slipped 0.8% year‑on‑year while imports surged 24.1%, driven largely by gold and silver purchases. The trade deficit more than doubled to roughly $27.1 billion in February 2026, widening the current‑account gap to...
Sustained Rise in Crude Oil Prices May Hit Remittances, Stoke Inflation: Finmin Report
The Finance Ministry’s latest Monthly Economic Review warns that sustained crude‑oil price hikes could dampen India’s remittance inflows, which rose to $36.9 billion in Q3 FY26. Gulf Cooperation Council nations, accounting for about 38% of total remittances, face fiscal strain from...
CoM 2026, Committee of Experts - Opening Remarks by Deputy Executive Secretary Mama Keita
Deputy Executive Secretary Mama Keita opened the 2026 Committee of Experts, emphasizing the theme “Growth through innovation: harnessing data and frontier technologies for economic transformation in Africa.” She highlighted that while Africa’s GDP has averaged 3.5% growth since 2000, productivity gains...
South India Will Lead the March to a $5-10 Trillion Economy: CII Chairman
South India is positioned to drive India’s march toward a $5‑10 trillion economy, according to CII Southern Region chairman P Ravichandran at the Kochi convention. The six southern states generate roughly 38‑40% of the nation’s merchandise exports, about $124 billion, and have been...
One Month Into Iran War, only Hard Choices for Trump
One month after the U.S.-Israeli strike campaign against Iran, President Donald Trump is wrestling with two stark choices: negotiate a rapid exit or intensify military action that could drag the United States into a prolonged conflict. Iran’s missile and drone...
Iran Threatens to Use 'Gate of Tears' If US Deploys Ground Troops
Iran warned it will target the Bab al‑Mandeb Strait—dubbed the "Gate of Tears"—if the United States deploys ground troops, adding a potential second choke point to the Middle‑East conflict. The Iran‑aligned Houthi rebels have already demonstrated the ability to strike...
EU Trade Commissioner Discusses Critical Minerals, Tariffs with US
EU Trade Commissioner Maros Sefcovic confirmed progress on a critical minerals agenda and a resolution of tariff disputes with the United States. Both sides settled on a 15% import tariff for most EU goods, halving the rate previously threatened by...
German Chemicals Groups Boost Prices as Iran War Adds to Industry Woes
German chemical giants such as BASF, Covestro and Evonik announced price increases of up to 5% for a range of products. The hikes come as the Israel‑Iran conflict tightens supply chains, raises energy costs and limits feedstock imports. Companies cite...
Iran War, Crude, Rupee Among 8 Factors to Steer D-Street in Holiday-Shortened Week
The NSE Nifty slipped 2.09% to 22,819.60, trading below its 21‑hour EMA as bearish momentum builds. A month‑long Iran‑Israel conflict has driven WTI crude to $101 per barrel and Brent to $115, stoking global inflation worries. Indian equities faced heavy...
Philippines Pushing for WTO Dispute System Reforms
The Philippines is championing reforms to the World Trade Organization’s dispute‑settlement system at the WTO’s 14th Ministerial Conference in Yaoundé. Trade Secretary Cristina Roque argued that a functional, accessible mechanism is essential for restoring confidence, especially for developing economies. WTO...
MONEY THOUGHTS: Curbing, Capping and Curtailing Lifestyle Creep
The escalating Iranian conflict has pushed crude oil prices above $100 per barrel and raised the specter of a Strait of Hormuz closure, which could choke one‑fifth of global oil flow. Such a supply shock would amplify fuel costs, trigger...
Drillers See Triple-Digit Crude and Hit the Brakes
Brent crude has surged past $100 a barrel and WTI topped $90, creating a price environment that comfortably exceeds shale breakeven levels. Yet U.S. oil drillers remain hesitant, citing the ongoing Middle East conflict as a major obstacle to investment...
Iran Clears 20 Pakistan-Flagged Vessels Through Hormuz
Iran announced it will clear twenty Pakistani‑flagged vessels through the Strait of Hormuz, allowing two ships per day after months of near‑total closure due to regional tensions. The move follows earlier passages of two tankers carrying roughly 500,000 and 600,000...
Don't Strike a Deal with Iran's Current Leaders, Opposition Figure Pahlavi Warns
Reza Pahlavi, the exiled son of Iran’s former shah, warned at a CPAC rally that negotiating with Iran’s current leaders would merely postpone threats to the United States. He urged Iranians to resume street protests and presented himself as the most...
Is It Time for Energy Rationing to Return?
The International Energy Agency (IEA) has urged governments and consumers to slash energy use as the U.S.–Israeli attack on Iran fuels the biggest oil disruption in history, with the Strait of Hormuz closed for weeks. To blunt price spikes, the...
Gulf War May Push Beverage Prices Up
PepsiCo and Coca‑Cola warned that the Gulf conflict is driving up key input costs, especially PET resin, which has jumped about 65% to roughly $1,580‑$1,744 per metric ton since late February. Container freight from East Asia to the U.S. West...
India's Economic Ties with Azerbaijan Improve Despite Political Drift
India’s outbound investments to Azerbaijan surged in 2025, reaching $56.0 million, a 29.8% increase over the prior year. Cumulative Indian capital in Azerbaijan has climbed from $480 million in 2016 to $1.26 billion by mid‑2025, reflecting a decade‑long expansion. While Azerbaijan assisted in...
The Dollar Is Still the Main Character in Both Forex and Crypto
Despite talk of decentralisation, the US dollar continues to be the core reference point for both traditional foreign‑exchange markets and digital‑asset trading. In forex, the greenback anchors major currency pairs, risk sentiment and reserve holdings, while in crypto, prices, stablecoins...
India Supports Draft WTO Fish Declaration, Says Subsidised Industrial Fleets Cause Overfishing
India backed the WTO’s draft decision to keep negotiating fisheries‑subsidy rules, arguing that heavily subsidised industrial fleets drive overcapacity and overfishing. The draft calls for comprehensive discipline on such subsidies and includes special and differential treatment for developing countries. Commerce...
India Says Iran War Could Hit Growth, Widen Fiscal Deficit
India’s government warned that the ongoing war in Iran could dampen economic growth and widen the fiscal deficit as energy and shipping disruptions ripple through multiple sectors. The March economic review highlighted higher input costs and supply constraints as near‑term...
Countries Sidestep WTO Deadlock to Implement E-Commerce Deal
Sixty‑six WTO members representing roughly 70% of global trade have agreed to implement the Joint Statement Initiative on e‑commerce through their own domestic legislation, sidestepping the need for full WTO consensus. India continues to block the plurilateral deal, arguing it...
Africa Can Leverage Remittances for Growth Through Fintech
In 2024, formal remittances to Sub‑Saharan Africa reached about $100 billion, with Nigeria alone receiving roughly $21 billion—around 10 % of its GDP. Policymakers see the challenge of turning these consumption‑driven inflows into savings and investment, a task that hinges on scaling Africa’s...
Why Spain Is Weathering Europe’s Energy Crunch Better Than Most
Spain’s electricity market is insulated from the current European energy crunch thanks to a renewable‑heavy mix—almost 60% of its power comes from solar, wind and nuclear—keeping the average price at about €14/MWh (≈$15) versus over €100/MWh (≈$107) in Italy, Germany...
The War Poses Bigger Questions for Beijing Than Oil
The ongoing conflict, likely the Russia‑Ukraine war, forces Beijing to reassess its strategic priorities beyond the immediate impact on oil supplies. While China’s partnership with Tehran remains limited by sanctions and diplomatic risk, the war highlights broader concerns about energy...
EU’s Šefčovič Confirms Push for Western Steel Club with US and UK
The European Union is weighing a Western steel alliance with the United States and the United Kingdom to curb China’s massive overcapacity, Trade Commissioner Maroš Šefčovič announced at a WTO ministerial in Cameroon. Britain has been actively lobbying for the...
WTO MC14: Farmers’ Group Pushes for Permanent Moratorium on TRIPS Non-Violation Complaint
At the WTO’s 14th ministerial conference in Yaoundé, India’s Rashtriya Kisan Mahasangh urged members to make the TRIPS non‑violation complaint moratorium permanent. The group argues that ending the moratorium would raise prices for agro‑chemicals and veterinary medicines, threatening small‑holder livelihoods...
Charting the Global Economy: Extensive Growth Toll From Iran War
The Iran war has triggered a synchronized downturn in global business sentiment, with purchasing‑manager indexes falling across Australia, India, Europe and the United States. Surging oil prices are driving the fastest input‑cost inflation in Germany in three years and pushing...
The Oil Shocks of the ’70s Changed the World. Will the Iran War Do the Same?
The 1973‑74 Arab oil embargo and the 1978‑79 Iranian revolution caused oil prices to quadruple, triggering severe gasoline shortages and reshaping global financial markets. Those shocks redirected capital flows and solidified the U.S. dollar as the world’s primary reserve currency....