State Bank of India Shuns Russian Crude Oil Payments Despite US Reprieve
State Bank of India (SBI) has refused to process payments for Russian crude oil even after the United States issued a temporary waiver for Indian imports. The bank cites uncertainty over the waiver's duration, potential sanctions exposure, and reputational risk as primary concerns. SBI’s caution reflects its sizable exposure to U.S. borrowers, which account for 26% of its international loan portfolio. The decision highlights the limited impact of short‑term U.S. sanction relief on India’s energy financing channels.
Govt Eases FDI Norms for China, Other Countries Sharing Land Border with India: Sources
India has amended Press Note 3, easing foreign‑investment rules for all nations sharing a land border, including China. The change removes the mandatory pre‑approval requirement for investments from companies with shareholders in these countries, though approval remains required for any sector....
China’s Energy Defences Ease Sting of Iran War Instability
China is strengthening its energy security framework to offset volatility caused by the Iran‑related conflict. The government has expanded strategic petroleum reserves, accelerated domestic renewable projects, and secured new long‑term contracts with alternative suppliers. These moves aim to insulate the...
Hormuz Closure Sends Bunker Prices to Record Levels
The closure of the Strait of Hormuz amid the Iran‑US/Israeli conflict has driven bunker fuel prices to record highs, with IFO 380 averaging $841.50 per tonne globally and Singapore reaching $1,073. At least 20% of the world’s HSFO exports are now...
E-Way Bills Point to Slower yet Robust Economic Activity in February
India's e‑way bill generation slipped 3.1% in February to 132.5 million, yet it remains the third‑highest monthly total on record, signalling sustained logistics activity. Analysts attribute the dip to February’s shorter calendar and seasonal softening after a strong January, not a...
China’s Nudge, a U.S. Permission, an Iranian Rapprochement — India’s Balancing Act on an Economic Thread
India is walking a diplomatic tightrope as escalating Iran‑U.S. tensions threaten its oil supplies while it seeks to preserve economic stability. Beijing has called for deeper BRICS coordination, but New Delhi has remained silent on the Iranian attack, emphasizing dialogue...
Asian Shares Surge, Echoing Rally on Wall Street as Oil Prices Sink Back to About $90
Asian equities rebounded sharply on Tuesday as oil prices retreated from a peak near $120 to around $90 a barrel, easing geopolitical risk concerns. President Donald Trump’s remarks that the Iran‑related conflict was “very complete” further calmed markets. Japan’s revised...
Iran Strikes Push Oil Higher and Raise Inflation Risks - Weekly Roundup: 10 March
Oil prices surged past $100 a barrel after US and Israeli strikes on Iran, reviving inflation concerns and prompting analysts to warn of a dual recession‑inflation risk. Meanwhile, Swift is launching a new cross‑border retail payments framework to improve speed...
Next Steps for Rasht-Astara Line to Be Taken Next Month?
Russia and Iran will sign off the 164‑km Rasht‑Astara railway line on April 1, 2026, a cornerstone of the International North‑South Transport Corridor (INSTC). The €1.6 billion project, jointly funded by Moscow and Tehran, aims to streamline cargo flow from India...
European Markets Head for Positive Open as Oil Prices Slide
European stock futures surged 1‑2% on Tuesday as oil prices retreated after President Trump suggested possible action to keep the Strait of Hormuz open. Brent crude slipped 6.8% to $92.25 per barrel, easing pressure on energy‑sensitive equities. The rally could...
Petronet LNG, GAIL, Indraprastha, MGL, ATGL Gain up to 6% as Trump’s Iran War Remarks Lift Market Sentiment
Shares of Indian gas distributors surged after President Donald Trump suggested the Iran war could end soon, easing fears of prolonged Strait of Hormuz disruptions. Petronet LNG jumped nearly 5% to ₹292.30, GAIL rose 2% to ₹152.50, and Indraprastha Gas...
Chart Alert: Hang Seng Index Recovered at 24,765, Bulls Need to Break Abo...
The Hang Seng Index rebounded to 24,765, reclaiming its 200‑day moving average after a 1.6% intraday gain. Over the past ten days, it fell only 3.3% while China’s CSI 300 slipped 1.1%, outpacing regional peers hit by oil‑driven stagflation fears. Policy...
As Bombs Fall, Gold Prices Rise — and Poland Is Taking Notice
Geopolitical strikes on Iran have pushed spot gold to a record $5,420 per ounce, sparking a surge in demand for physical bullion. In Poland, the Mazovia Mint reports private investor purchases rising 30‑50% year‑on‑year, with 21% of Poles entering the...
Mideast Naphtha Supply Tightens as Disruptions Mount
Mideast Gulf naphtha supplies are tightening after Kuwait's KPC and Bahrain's Bapco Energies announced force majeure, removing roughly 560,000 t/month and 167,000 t/month respectively. Additional shipment delays from ADNOC and cargo cancellations by QatarEnergy, alongside drone attacks on Ras Laffan and Duqm,...
Politics with Michelle Grattan: Middle East War Set to Push Inflation Higher than Forecast, Warns RBA Deputy Governor
RBA Deputy Governor Andrew Hauser warned that inflation in Australia is likely to run above the bank’s June projection of 4.2% because of surging oil prices linked to the Middle East conflict. The central bank’s board will meet next week,...
Rupee Rebounds From All-Time Low, up 7 Paise to 92.14 Against US Dollar in Early Trade
The Indian rupee rebounded from its all‑time low, trading at 92.14 per U.S. dollar after a 7‑paise gain in early trade. The rally was sparked by a sharp drop in global oil prices following President Donald Trump’s comments that the...
India Must Tap FTA Opportunities: Piyush Goyal
India’s commerce minister Piyush Goyal urged firms to capitalise on the nine free‑trade agreements covering 38 developed economies, which open roughly two‑thirds of global trade to Indian exporters. He highlighted India’s rise to 38th in the Global Innovation Index and...
India Says No to IEA’s Call to Release Strategic Oil Reserves
India has declined the International Energy Agency’s invitation to tap its strategic oil reserves as a measure to curb soaring crude prices. The country holds about 5.33 million tonnes of underground reserves, roughly 80% of capacity, and reserves them for supply‑disruption...
Apple Now Makes About 25% of iPhones in India After China Pivot
Apple boosted iPhone assembly in India by roughly 53% in 2025, reaching about 55 million units and accounting for a quarter of its global output. The shift helps the company sidestep escalating US tariffs on Chinese‑made devices and diversifies its supply...
Businesses Brace for Lengthy Battle Over IEEPA Tariff Refunds
Supreme Court struck down Trump-era IEEPA tariffs, prompting a flood of refund claims for roughly $175 billion collected. The U.S. Court of International Trade ordered the government to begin issuing refunds, but Customs and Border Protection requested a 45‑day setup period,...
Africa After Aid
When the United States and other major donors slashed foreign aid in 2025, analysts warned of imminent economic collapse across Africa. Yet recent data show most African economies have maintained or even modestly expanded growth, with Ethiopia posting 4.2% GDP...
The Trouble With State Capitalism
The authors argue that governments worldwide are moving toward a form of state capitalism, using export controls, investment‑screening mechanisms, and subsidies to steer corporate behavior toward geopolitical goals. This shift blurs the line between market‑driven decision‑making and political direction, compelling...
Trade Boom: China’s Exports Surge 21.8% to Start 2026 – Biggest Gain in 4 Years
China’s exports jumped 21.8% in the first two months of 2026, marking the strongest bi‑monthly increase in four years. The surge was powered by heightened demand from ASEAN, the European Union and other key markets, while U.S. exports to China...
Dollar Eases with Oil on Hopes of Swift End to Iran War
The U.S. dollar slipped after President Donald Trump declared the Iran conflict "very complete," prompting a sharp retreat in oil prices. Brent crude fell to $92.46 a barrel, down from Monday's $120 peak, easing pressure on risk‑sensitive currencies such as...
Japan Economy Grows 1.3% in Oct.-Dec., Revised up, on Stronger Investment
Japan’s October‑December GDP was revised up to an annualised 1.3 percent, reversing two quarters of contraction. The upgrade reflects stronger business investment, with capital spending rising 1.3 percent, and a modest lift in private consumption of 0.3 percent. Nominal GDP also jumped to...
Rising Energy Costs Imperil Thai Manufacturer's Profits
Geopolitical tensions in the Middle East are pushing energy prices higher, threatening the profit margins of Thailand's consumer‑goods conglomerate Osotspa Plc. Energy accounts for roughly 20% of the company's costs, and a rise in LNG to $140‑150 per unit could...
Airlines Face Fuel Shock as Middle East Crisis Tests Hedging Strategies
A sudden escalation in the Middle East has driven crude oil prices up nearly 40% in a week, pushing barrel prices toward $150 and sending jet‑fuel costs soaring. Fuel, the airline industry's largest variable expense, is now testing the resilience...
Trump and Putin Discuss End to Iran and Ukraine Wars on Call
President Donald Trump and Russian President Vladimir Putin held a roughly hour‑long phone call, their first since the Iran‑Russia conflict escalated. The leaders discussed proposals to end the war in Iran and linked those efforts to a potential resolution of...
Thai Bourse Buoyant on Return of Foreign Investors
The Stock Exchange of Thailand (SET) says foreign investors will likely return once geopolitical tensions ease, positioning Thailand as a regional safe‑haven. Since the Middle East conflict, the SET index fell about 10.5% but remains 8.5% higher year‑to‑date, keeping Thailand...
Crisis Seen as Opportunity for Thailand
Caretaker finance minister Ekniti Nitithanprapas warned that Thailand’s soaring oil prices, now above $100 per barrel, present a pivotal chance to reshape the economy. He highlighted a 60% jump in BOI‑registered projects to 1.8 trillion baht, reflecting a wave of investors...
Hormuz Closure Sends Gas Prices Soaring, LNG Cargoes Toward Asia
The recent closure of the Strait of Hormuz has triggered a sharp rise in global natural‑gas prices, except in North America, which remains insulated by abundant domestic supply. The disruption forced several LNG carriers originally bound for Europe to reroute...
China Searches for a Way Out of Brazil’s Steel Barriers
Chinese steel exporters are confronting steep anti‑dumping duties in Brazil, ranging from $285 to $710 per tonne, which could render Chinese imports unviable for up to five years. The duties target pre‑painted, cold‑rolled, and coated steel, prompting Chinese firms to...
Costco Issues Urgent Warning to Shoppers
U.S. and Israeli strikes on Iran have pushed crude oil into the mid‑$70‑per‑barrel range, sending the national average gasoline price up 27 cents to $3.25 per gallon. Analysts warn the pump price could climb to $3.50‑$3.70 soon and possibly breach...
Former Ag Secretary Says Tariffs Threaten Key Export Markets
Former U.S. Secretary of Agriculture Dan Glickman warned that presidential tariffs are endangering key export markets, especially for soybeans. He highlighted that U.S. agriculture relies heavily on overseas sales and that recent tariff measures have squeezed demand and farmgate prices....
Markets Watching for Trade Developments Ahead of Trump-Xi Talks
Agricultural markets are closely monitoring the upcoming face‑to‑face meeting between President Donald Trump and Chinese President Xi Jinping in Beijing at the end of March. The talks follow a late‑October summit that produced a trade framework committing China to 25 million...
The Company Behind One of Trump's Oft-Worn Shoe Brands Is Suing His Administration over Tariffs
Footwear maker Weyco Group, owner of Florsheim, filed a lawsuit in the U.S. Court of International Trade seeking refunds for tariffs imposed by the Trump administration. The company alleges it paid up to a 145% duty on Chinese imports and...
Stocks Recover as Oil Retreats From $119: Stock Market Today
Crude oil futures hovered just below $119 per barrel, easing fears of a supply shock amid heightened Middle‑East tensions. The broader market rebounded, with the Nasdaq gaining 1.4%, the S&P 500 up 0.8% and the Dow rising 0.5% after a volatile...
Anne Applebaum Inspects the Shards of Post-War Order
Anne Applebaum warned that Europe is increasingly hedging against U.S. security and trade dependence as the Russia‑Ukraine war drags into its fifth year. She highlighted the erosion of the post‑World‑II liberal, rules‑based order, noting that terms like “liberal world order”...
The Iran Energy Shock Reverberates Across Financial Markets
The outbreak of war involving Iran has triggered a sharp contraction in oil output and transit, pushing global energy prices up by over 15 percent. The surge in energy costs is reigniting inflation expectations worldwide, prompting traders to anticipate more...
Hormuz Shipping Slowdown Spurs Port Congestion From India to Singapore
Shipping through the Strait of Hormuz has nearly stalled, with crossings dropping 66% and crude‑oil futures briefly spiking above $115 per barrel. The U.S. responded with a $20 billion maritime reinsurance program aimed at protecting vessels and cargo. The slowdown has...
EU Enlargement: What's in It for European Businesses?
EU enlargement commissioner Marta Kos urged European firms to invest in candidate countries, citing past enlargement’s boost to exports, supply chains and GDP. She emphasized reforms—independent courts, anti‑corruption, free media—as prerequisites for safe investment. New research from the Confederation of...
4th Quarter Review: From Momentum to Selectivity
In the fourth quarter of 2025 U.S. markets extended gains while the margin for error narrowed across policy, valuation and data. Artificial‑intelligence demand remained robust, yet investors grew more selective, emphasizing balance‑sheet strength and near‑term cash flow. The Federal Reserve...
Redfin Economists’ Weekly Take: Mortgage Rates Poised For Volatility As Iran Conflict Escalates and Inflation Data Looms
Redfin economists warn that mortgage rates could remain volatile as the Iran‑Israel conflict drives oil prices toward levels last seen during the Ukraine war and fresh inflation data arrives. February core CPI is projected to rise 0.2% month‑over‑month, while the...
Tariff Uncertainty Expected to Weigh on U.S. Container Imports in First Half of 2026, NRF Says
The National Retail Federation’s Global Port Tracker projects U.S. container imports will stay below last‑year levels through the first half of 2026 due to lingering tariff uncertainty and geopolitical risk. After the Supreme Court struck down IEEPA tariffs, the Trump...
Kazakhstan’s Pragmatic Foreign Policy Faces Uncertainty Amid Attacks Across the Middle East
Kazakhstan’s President Kassym‑Jomart Tokayev has steered a pragmatic foreign policy through the recent wave of missile and drone attacks across the Middle East, opting for neutrality while maintaining diplomatic channels with Iran, Israel, Gulf states and the United States. He...
The US’s Critical Minerals Club Threatens an Equitable Clean Energy Transition
The United States is forming a critical‑minerals trading bloc aimed at breaking China’s dominance in supply chains for digital and defense technologies. The initiative downplays clean‑energy needs, even though analysis shows only a handful of the 33 minerals the UK...
Kwasi Kwarteng: Labour ‘at Risk’ without More Tax Rises Amid Bond Jitters
Former chancellor Kwasi Kwarteng warned that the UK may need to introduce tax hikes as early as November to fund energy subsidies amid soaring oil prices and a sudden spike in government bond yields. He likened the current market turbulence...
The Iran Crisis and the BRICS Dilemma
The Iran‑U.S. conflict is spilling into the Gulf, forcing BRICS to confront its first major geopolitical test since the 2024 expansion. While Russia and China back Tehran’s strategic autonomy, India adopts a cautious stance to protect its Chabahar‑linked trade interests....
No, Turkey Is Not the New Iran
Israeli officials and U.S. think tanks are warning that Turkey could become a strategic rival comparable to Iran, citing President Erdogan’s authoritarian turn and regional ambitions. The article argues the "new Iran" label is misleading because Turkey lacks Iran’s ideological...
Gold Price Fades on Inflation Concerns, Silver Price Rebounds
Gold slipped to about $5,015 an ounce on Monday, a 3% intraday drop, before regaining most of the loss, as a stronger U.S. dollar and inflation‑driven rate worries kept investors on the sidelines. Silver, by contrast, rose over 2% to...