Zambia and UK Sign Debt Restructuring Deal Under G20 Framework
Zambia and the United Kingdom have signed an amendment that reduces Zambia's outstanding debt to the UK from $291 million to about $277 million and pushes the final repayment deadline from 2032 to 2043. The deal is part of Zambia’s broader debt‑restructuring effort under the G20 Common Framework, which now covers 100% of its official external debt. The amendment, linked to UK Export Finance funding for a nationwide health‑infrastructure programme, aims to ease short‑term debt service pressures. Officials say the extended terms will free fiscal space for infrastructure, health and social projects.
US Defends Waiver On Russian Oil Sanctions
U.S. officials defended a 30‑day waiver allowing Indian refineries to purchase Russian oil, aiming to ease market pressure as gasoline prices surged amid the Iran conflict. The waiver, announced by Energy Secretary Chris Wright and UN Ambassador Mike Waltz, seeks...
War Jitters Drain Liquidity From Iran’s Markets as Rial Pricing Fractures
Iran’s financial markets entered a pronounced lull after US and Israeli strikes heightened geopolitical risk, leaving many trading venues partially shut and liquidity thin. Online dollar pricing via USDT surged to IRR 1,550,000 per dollar, yet physical dollar dealers accept roughly...
US Must Not Let Iran Distract It From China
The United States and Israel are escalating a military campaign against Iran, raising concerns that the conflict could divert American attention and resources. Analysts warn that this distraction may allow China to deepen its strategic foothold in the Indo‑Pacific. The...
Israeli Military Says It Will Pursue Every Successor of Iran’s Khamenei
Israel's military announced it will target any individual involved in appointing a successor to Iran's slain Supreme Leader Ayatollah Ali Khamenei. The statement, posted in Farsi on X, underscores Israel's intent to intervene after the U.S. and Israeli strikes that...
Borderlands Mexico: Authorities Move to Cancel Permits for 350 Mexican Steel Importers
Mexican authorities have suspended import activities and begun canceling permits for 350 steel‑importing firms as part of Operation Clean‑Up, a coordinated crackdown on smuggling and misuse of trade programs. The Ministry of Economy flagged these companies among 750 firms suspected...
Oil Prices ‘Could Breach $100 a Barrel Within Days’ Amid Supply Disruption From Iran War
Goldman Sachs warned that global oil prices could breach $100 a barrel within days and climb to $150 by month‑end if the Strait of Hormuz remains blocked. Iran’s effective blockade has cut crude flows through the strait to roughly 10%...
East African Citizens Brace for Hard Times as Gulf War Escalates
East African economies are bracing for fallout from the escalating Gulf conflict after US and Israel attacks on Iran. Brent crude surged past $84 a barrel, pushing fuel costs and inflation higher across the region. Economists warn that higher import...
How Iran-Israel War Reshapes Sudan’s Fragile Frontlines
The Iran‑Israel conflict has forced Saudi Arabia, the UAE and Qatar to divert attention and resources after Iranian missile reprisals, weakening their mediation role in Sudan’s three‑year war. Analysts argue this shift could either spark renewed diplomatic pressure to end...
Top Market Expert Predicts FIIs Unlikely to Return Anytime Soon After Nearly $2 Billion Selling in March
Foreign institutional investors dumped nearly $2 billion from Indian equities in March, driven by heightened Middle‑East tensions and Brent crude trading above $90 a barrel. The outflows, amounting to roughly Rs 21,829 crore, pushed the Nifty 50 down about 6% year‑to‑date and erased Rs 19 lakh crore...
Adnoc Adjusts Flows, Deliveries to Maintain Supplies
Abu Dhabi’s state‑owned oil giant Adnoc announced it has activated contingency protocols to keep crude flowing despite the Iran‑US‑Israel conflict disrupting tanker traffic through the Strait of Hormuz. The company is adjusting offshore production, leveraging the 1.5 million b/d ADCOP pipeline that...
Kuwait Cuts Crude Output on Hormuz Disruption: Update
Kuwait’s state‑owned oil company KPC announced a precautionary cut to crude output and refinery runs after the Strait of Hormuz effectively shut down oil exports amid escalating conflict between the US, Israel and Iran. The firm issued a force majeure...
Second Bulk Carrier Claiming To Be Chinese Passes Through Hormuz
A second bulk carrier, the Liberia‑flagged Sino Ocean, announced Chinese ownership while transiting the Strait of Hormuz, joining Iron Maiden that did the same earlier this week. Both vessels used destination signals like “CHINA OWNER” to seek safe passage amid...
Kuwait Cuts Crude Output After Hormuz Disruption
Kuwait's state‑owned oil company KPC announced a precautionary cut to crude production and refinery runs after the Strait of Hormuz became effectively closed following U.S. and Israeli air strikes on Iran. In February, Kuwait produced 2.59 million barrels per day, with...
Marcos Departs for US Visit on Sunday
President Ferdinand Marcos Jr. departs for a working visit to New York on March 8, where he will address the United Nations General Assembly and the Commission on the Status of Women. He will call for peace in the Middle East,...
Pakistan Seeks Saudi Red Sea Route for Oil After Iran Closes Hormuz
Pakistan is turning to Saudi Arabia’s Red Sea corridor to import crude after Iran’s closure of the Strait of Hormuz following recent U.S.–Israeli strikes. The disruption threatens Pakistan’s already tight fuel supply, prompting the government to adopt aggressive conservation policies,...
Indo-US Trade Talks Reset; Deal Now Expected in 3-4 Months
Indo‑US trade talks have been reset after the U.S. Supreme Court struck down tariffs imposed under the International Emergency Economic Powers Act, activating the joint statement’s review clause. Both governments now have a three‑to‑four‑month window to reassess the proposed preferential...
Commerce Ministry Assures of Restoration of Full RoDTEP Benefits to Exporters From April 1: FIEO
India's Commerce Ministry announced that the full Remission of Duties and Taxes on Exported Products (RoDTEP) benefits will be reinstated from April 1, 2026, after a temporary 50% reduction that lasted until March 31. The scheme, which refunds 0.3%‑3.9% of...
Gold Price Will Continue to Rise as Central Banks Continue to Diversify Into Non-Dollar Reserves: SBI Research
Gold prices have surged 47.6% since August 2025, reaching $5,092 per ounce, as central banks shift from Treasury securities to gold. The United States and Germany now report gold comprising over 80% of their reserve portfolios, with Italy and India also...
ASH: Iran War - Who Needs Nukes when You Have Drones?
Iran’s low‑cost, $20,000 drones are emerging as a more disruptive strategic weapon than its nuclear program, targeting the Gulf’s diversified economic assets. The drone campaign threatens energy, logistics, tourism, real‑estate and financial sectors, raising the risk of capital flight and...
Japan Seeks Exemption From US Tariff Hike Amid Trade Concerns
Japan has asked the United States to exclude it from a planned tariff hike that would raise duties from 10% to 15%, warning that higher rates could damage its auto sector and jeopardise the $550 billion Strategic Investment Initiative tied to...
US Skips Congressional Review to Approve Munitions Sale to Israel
The U.S. State Department approved a $151.8 million foreign military sale to Israel, delivering 12,000 BLU‑110A/B 1,000‑pound bomb bodies, and bypassed the usual congressional review by invoking an emergency authority. Secretary of State Marco Rubio declared an emergency to expedite the...
The Iran War and Global Trade: Will the Cape Route Become the New Normal?
Armed attacks on Iran and the closure of the Strait of Hormuz in early 2026 forced shipping lines to reroute around Africa’s Cape of Good Hope. The Cape route, once a contingency, saw usage surge, echoing past disruptions of the...
When Neighbours Stop Knocking: The Hidden Impact of Canada’s 2025 Tourism Decline on US Local Labour Markets
In 2025, Canadian tourism to the United States dropped 25% after heightened geopolitical tensions and Trump‑era rhetoric. The decline hit service‑oriented ZIP codes where Canadian visitors comprised at least 1% of foot traffic, leading to a 6% employment contraction in...
Cross-Border Restrictions in the Age of Geopolitical Tensions: What Seven Decades of Data Tell Us
A new study uses large‑language‑model techniques to convert the IMF’s 70‑year AREAER narrative archive into a daily, country‑level dataset of cross‑border financial restrictions (iBoP‑C and iBoP‑S). The high‑frequency indices reveal a stop‑go pattern of financial liberalisation, with advanced economies easing...
Fed ‘Utterly Paralyzed’ as Iran Conflict Stokes Stagflation Fears
The Federal Reserve entered 2026 optimistic about a soft landing, but the sudden Iran‑Israel conflict has driven crude above $95 per barrel, pushing gasoline prices to record highs and reviving cost‑push inflation concerns. A weak jobs report further erodes labor‑market...
Prolonged Disruption Turns Focus to Inventories
The International Energy Agency’s chief announced that global oil markets are currently well‑supplied, eliminating any immediate need to tap strategic inventories. While some regions continue to experience supply disruptions, the agency sees no justification for coordinated production cuts at this...
Oil Price at Two-Year High After Qatar Warns All Gulf Production Could Stop Within Days
Oil prices surged to a two‑year high after Qatar’s energy minister warned that all Gulf oil and gas exporters could cease production within days amid the escalating Middle‑East conflict. Brent crude rose above $93 a barrel, and the minister suggested...
Inside Trump’s Long-Term Economic Strategy, with EXIM Bank’s John Jovanovic
John Jovanovic, chairman of the U.S. Export‑Import Bank, outlined a long‑term economic agenda that aligns with former President Trump’s focus on export resilience and strategic stockpiles. He detailed Project Vault, a demand‑driven critical‑mineral reserve designed to curb just‑in‑time vulnerabilities. Jovanovic also...
Stocks Sell Off, Yields Rise, Energy Surges on War in Middle East (253)
The Feb. 28 outbreak of war in the Middle East sparked a broad equity sell‑off during the March 2‑6 week, while energy stocks were the only sector to post gains, rising about 1 %. Treasury yields climbed across the curve, except for a...
US Recycled Plastics Hold Steady Amid Iran War
US recycled plastics markets stayed largely flat this week despite the outbreak of war in the Middle East, as participants adopt a cautious stance amid feedstock and shipping uncertainty. Recycled PET prices were unchanged, while recycled PP rose 1¢/lb and...
Beyond Mining: Oklahoma Bets on Refining to Anchor US Critical Minerals Supply Chain
U.S. critical‑minerals strategy is shifting from mining to processing, and Oklahoma is positioning itself as a domestic hub for refining, smelting and magnet manufacturing. The state is courting major projects, including a $4 billion aluminum smelter by Emirates Global Aluminium at...
US Weighs Military Powers to Restart Oil Pipeline
The Trump administration is weighing the use of the 1950 Defense Production Act to override a California state court order and restart an offshore oil pipeline serving Sable Offshore. A Justice Department opinion argues the law can preempt state consent...
UK's Starmer Discusses Military, Intelligence Support with Saudi Crown Prince
British Prime Minister Keir Starmer held a phone call with Saudi Crown Prince Mohammed bin Salman after Iran’s missile strikes on Saudi Arabia. Starmer confirmed the UK is dispatching additional fighter jets, helicopters and a destroyer to the region and...
EU Countries Joining US, Israel Attacks Would Become Iran's "Legitimate Target", Deputy Minister Says
Iranian Deputy Foreign Minister Majid Takht‑Ravanchi warned that any EU nation joining U.S. and Israeli attacks on Iran would become a "legitimate target" for Tehran. While France, Greece and Italy have dispatched warships to the region, most EU officials are...
Brazilian Steel Slab Exports Double in February
Brazilian steel slab exports more than doubled in February, reaching 835,327 metric tonnes, up 117% year‑over‑year. The United States and the European Union drove the surge, with U.S. shipments rising 54% despite 50% tariffs and EU imports jumping from 50...
Falling Mortgage Rates May Boost US Housing, PVC
U.S. mortgage rates slipped below 6% for the first time in over three years, reviving affordability and prompting forecasts of an 8% rise in home sales by 2026. Despite the rate dip, new‑home construction is expected to decline modestly, with...
CMA CGM Preps for Challenging Year After 2025 Revenue, Profit Decline
Container shipping giant CMA CGM warned that its 2025 revenue and profit will fall, signalling a tougher outlook for the sector. The company projects only moderate growth in 2026, with freight rates likely to be influenced by escalating tensions in the...
2026 Canadian Trade & Customs Outlook: Forced Labour
Canada’s forced‑labour import prohibition remains largely unenforced, with the CBSA having detained only one shipment confirmed as forced‑labour since 2021. A private‑member Bill C-251 is advancing, proposing a rebuttable presumption that goods from certain entities are tainted unless proven otherwise....
2026 Canadian Trade & Customs Outlook: Trade Remedies
Baker McKenzie highlights a sweeping overhaul of Canada’s trade‑remedies regime, with the CBSA making annual administrative reviews the default for updating normal values, export prices and subsidy amounts. The agency recorded a near‑record number of anti‑dumping and countervailing duty investigations...
Nintendo Sues US Government over Donald Trump's Illegal Tariffs
Nintendo has filed a lawsuit against the United States government alleging that tariffs imposed under former President Donald Trump's executive orders violate the International Emergency Economic Powers Act (IEEPA). The complaint, lodged in the United States Court of International Trade,...
Alaska North Slope Crude Hits Record High: Correction
Delivered prices for medium sour Alaska North Slope (ANS) crude hit a record high on Thursday, trading around an $8.30 per barrel premium to July Ice Brent, the highest since Argus began tracking in January 2018. Purchases by South Korean...
Gemini Suspends, Revamps Middle East Services Amid Growing Conflict
Gemini Cooperation announced the suspension of several Middle East services, including routes to Europe and Asia, as well as regional shuttle operations, citing the escalating war in the Gulf. The alliance, which includes Maersk and Hapag‑Lloyd, is launching a new...
Fed's Hammack: Dollar Dominance Remains Intact as Fed Stays Patient
Federal Reserve President Christopher Hammack warned that inflation remains too high and broadly based, signaling that the central bank will likely keep interest rates on hold for an extended period. He reaffirmed the Fed’s commitment to its inflation mandate while...
February Logistics Manager’s Index Heads up to 61.5 as Lean Inventories Tighten Transportation Capacity and Push up Freight Rates
The Logistics Manager’s Index rose to 61.5 in February, the strongest reading since February 2025 and above the long‑term average of 61.3. Inventory levels slipped to 53.8 while inventory cost pressure eased, yet warehousing utilization accelerated and transportation prices jumped...
China Really Thinks It Is Just Defending Itself
China’s Communist Party frames its far‑reaching global actions as defensive, even as it expands military capabilities, maritime claims and economic influence. This self‑perception stems from a blend of historic victimhood and a belief in inherent peacefulness, which turns defensive intent...
South Korea and the Philippines Expand Ties in Nuclear Energy and Critical Minerals
South Korean President Lee Jae‑myung visited the Philippines on March 3‑4, 2026, marking the 77th anniversary of diplomatic ties and signing ten memoranda of understanding across AI, cybersecurity, defense, and energy. The two leaders pledged deeper cooperation on critical minerals, leveraging...
Market Turmoil Is Hitting Most Traditional Safe Havens. UBS Says This Is the Place to Hide
Geopolitical tensions between the U.S., Israel and Iran have rattled traditional safe‑haven assets, with gold and consumer staples slipping as oil prices breach $100 per barrel. UBS recommends pharmaceutical stocks as the new defensive refuge, citing their inverse link to...
ECB Schnabel: ECB Is Still in a Good Place, but War Increases Upside Inflation Risks
ECB Executive Board member Isabel Schnabel said the central bank’s policy stance remains appropriate despite a temporary inflation overshoot, provided expectations stay anchored. She highlighted that inflation is projected to meet the 2% target over the medium term, reinforcing a...
Isabel Schnabel: Navigating Inflation and Employment in an Era of Supply Shocks and AI
In a March 2026 speech, ECB Executive Board member Isabel Schnabel argued that, despite calls for a dual mandate, single‑mandate and dual‑mandate central banks usually adopt similar policy actions because price stability constrains any employment‑focused easing. She highlighted that more...