Global Economy News and Headlines
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The United Arab Emirates is fast‑tracking a new trade corridor that connects its eastern Khorfakkan port in Sharjah to Saudi Arabia’s Dammam, allowing cargo to bypass the Strait of Hormuz. The corridor combines maritime access via the Gulf of Oman with over‑land links across the UAE, reducing dependence on the chokepoint that handles about 20 % of global oil shipments. Expanded facilities at Khorfakkan can accommodate larger vessels, while the over‑land segment promises faster, more secure movement of goods. No official launch date has been set, but the project underscores growing Gulf efforts to mitigate geopolitical disruption.
Oil prices surged above $100 a barrel after the United States and Israel attacked Iran, prompting Tehran to close the Strait of Hormuz, which carries roughly 20% of global oil. The disruption has sent fuel costs soaring across Africa, prompting...
Russia is adopting a calibrated stance in the Iran war, offering diplomatic backing and possibly drone assistance to Tehran while steering clear of direct military engagement. Simultaneously, Moscow has dispatched modest oil shipments to Cuba as low‑cost geopolitical signaling. The...
India has asked WTO members to carefully reconsider the e‑commerce duty moratorium, warning of revenue losses and an ambiguous definition of "electronic transmissions." The United States, meanwhile, is pressing for the moratorium to become a permanent, duty‑free regime to protect...
India’s Commerce Secretary Rajesh Agrawal conducted bilateral meetings with delegations from the EU, Russia, New Zealand, Peru and Mexico on the sidelines of the WTO’s 14th ministerial conference. The talks reviewed progress on the recently concluded India‑EU free trade agreement and...
The Philippines is entering a belt‑tightening phase as a four‑week‑old Middle East conflict drives global oil prices higher, eroding the peso and inflating consumer costs. A temporary suspension of petroleum excise taxes will cut government revenue by roughly $2.5 billion, potentially...
President Donald Trump announced that “very substantial” talks are ongoing with Iran after Tehran sent a convoy of oil tankers as a goodwill gesture. Iran initially offered eight tankers, later adding two, for a total of ten, reportedly under Pakistani...
The United States captured Venezuelan President Nicolás Maduro and his wife, prompting a hard‑power display that many Latin American analysts view as a game changer for regional geopolitics. The move reinforces U.S. coercive dominance while exposing China’s limited military reach,...
U.S. ambassador Warren Stephens said Peter Mandelson’s September resignation slowed the rollout of the UK‑U.S Economic and Prosperity Deal signed in May 2026. While the framework was quickly signed in the Oval Office, implementation has lagged, especially on pharmaceutical funding,...
The letters to the editor flag four pressing issues for India. A halted Russian oil import and the Hormuz Strait closure have strained the country’s energy supply, prompting calls for domestic gas, electric‑vehicle adoption, solar power and local oil extraction....
Costa Rica’s colon surged to 465 per U.S. dollar, its strongest level since 2005, marking a 7% gain this year. The rally was driven by robust export growth and increased foreign investment. In response, the central bank intervened, purchasing roughly...
U.S. farmers are confronting a new wave of fertilizer cost pressure as the Middle Eastern conflict has shut the Strait of Hormuz, a key conduit for sulfur imports. The disruption threatens sulfur supplies essential for producing sulfuric acid, a core...
Central Bank of Nigeria Governor Olayemi Cardoso reaffirmed the regulator’s commitment to ongoing reforms, highlighting eleven straight months of disinflation and a newly liberalised foreign‑exchange market that no longer requires intermediaries. He noted that 32 banks have satisfied the latest...
India’s FY 2027 budget faces heightened pressure as the West Asia conflict drives global crude oil to $157 a barrel and natural‑gas prices to $22 per MMBtu, more than double pre‑crisis levels. Higher energy costs are expected to lift fertilizer and...
Saudi Arabia’s Public Investment Fund, led by Governor Yasir Al Rumayyan, reaffirmed its commitment to global investments despite the rising economic burden of the war with Iran. Al Rumayyan described the kingdom’s macroeconomic and physical position as strong, stable and resilient. He...
South Africa claims France withdrew President Cyril Ramaphosa’s invitation to the June G7 summit after the United States threatened to boycott the meeting if he attended. France, holding the G7 rotating presidency, cited logistical reasons and instead invited Kenya as...
The OECD warns that the Iran‑Israel conflict has halted the global growth upgrade, as near‑total disruption of oil shipments through the Strait of Hormuz pushes energy prices higher. Global GDP growth is now projected to fall to 2.9% in 2026,...
The European Commission’s 15th edition of the European List of Ship Recycling Facilities names 41 approved yards, all outside South Asia, despite more than 110 Indian and 23 Bangladeshi yards holding Hong Kong Convention compliance certificates. South Asian facilities now process...
On February 12, 2026 Taiwan and the United States signed the Agreement on Reciprocal Trade (ART), eliminating tariffs on roughly 99 percent of bilateral goods and expanding market access across multiple sectors. Beyond tariff cuts, the pact embeds a security architecture...
India’s cotton imports jumped 130% in volume and 92.5% in value in 2025, driven by a steep fall in global cotton prices. Lower import prices prompted textile manufacturers to increase purchases, seeking cost savings and higher quality raw material. Brazil...
Former U.S. diplomat Stephen Biegun says President Donald Trump will pursue an economic deal with China during his mid‑May visit to Beijing. The agenda is expected to focus on securing large‑scale Chinese purchases of American agricultural and manufacturing products. Biegun...
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North Korean leader Kim Jong Un and Belarusian President Alexander Lukashenko signed a Treaty of Friendship and Cooperation during Lukashenko’s first official visit to Pyongyang. The ceremony featured a 21‑gun salute, schoolchildren waving flags, and a military honor guard, underscoring...
Manulife Investment Management’s CIO Nathan Thooft warns that long‑duration U.S. Treasury bonds have again failed to act as a hedge, as equities and bonds moved together amid the US‑Israeli conflict and rising inflation. He argues that the positive equity‑bond correlation,...
President Donald Trump’s aggressive tariff regime, launched over the past 14 months, has failed to meet its stated goals of boosting U.S. manufacturing and reshaping global trade. Instead, the duties have increased import prices, prompted retaliatory measures from key trading...
Fast‑moving consumer goods (FMCG) firms are preparing selective price hikes and smaller pack sizes as crude oil prices surge amid the West Asia conflict. Packaging and logistics costs have jumped 15‑20%, prompting companies like Parle, Dabur and AWL Agri to...
Morgan Stanley's chief U.S. equity strategist Mike Wilson warns that bonds will deliver a lost decade of returns. He argues that persistent, three‑decade inflation driven by war‑related debt and pandemic stimulus makes high‑quality U.S. stocks the best hedge. Wilson recommends...
European sovereign bond markets remain under pressure after a sharp sell‑off triggered by the Middle East war, and analysts say a swift end to the conflict is unlikely to spark a rapid rebound. Intermittent rallies have emerged on hopes of...
The renewed Iran war has disrupted urea and ammonium nitrate production, slashing exports and driving global fertilizer prices up roughly 30 percent. The price surge coincides with the critical U.S. planting window, adding $10‑$20 per acre to corn fertilizer costs....
BRC‑Opinium data released in early March shows UK consumer confidence plunging to –53, the lowest reading since the index began in 2024 and a sharp decline from –30 in February. While retail spending ticked up modestly (+2 points), personal financial...
The ongoing war in Iran is disrupting every node of the regional liquefied natural gas (LNG) supply chain, choking exports from Qatar and the United Arab Emirates. With Gulf output curtailed, European and Asian buyers are forced to vie for...
The Trump administration has imposed a de facto blockade on Cuba’s fuel imports, plunging the island into a deep economic and humanitarian crisis. President Donald Trump repeatedly declares the Cuban regime’s “imminent demise” yet offers no concrete roadmap for post‑regime governance....
China’s state‑backed COSCO Shipping Lines announced it will resume new bookings for standard freight containers from the Far East to the Gulf, covering the UAE, Saudi Arabia, Bahrain, Qatar, Kuwait and Iraq. The decision reverses a March 4 suspension triggered by...
The McKinsey Global Institute report finds that despite record‑high U.S. tariffs, global trade expanded faster than the world economy in 2025, with AI‑related shipments accounting for roughly one‑third of that growth. U.S.–China trade fell about 30%, wiping out $130 bn in...
A year after President Trump’s trade assault, Asian economies escaped tariff fallout thanks to market pressure and AI‑driven growth, but the Iran‑Israel war has reignited a severe energy shock. Goldman Sachs warns that soaring oil and LNG prices could derail...
Barclays estimates that a prolonged closure of the Strait of Hormuz would remove 13‑14 million barrels per day from global oil supply, representing roughly 13% of projected 2026 demand. The bank warns that if the disruption extends into late April, Brent...
A sharp rise in diesel to about 39 baht ($1.11) per litre—driven by the US‑Israeli war on Iran—has left more than half of Samut Sakhon’s trawlers idle and threatens to shut down Thailand’s multibillion‑dollar fishing sector within days. Thailand exports roughly...
The South African Reserve Bank kept its repo rate at 6.75% as the US‑Israel war sparked higher global energy prices, prompting inflation concerns. Inflation, which had fallen to the 3% target in February, is now projected to climb toward 4%...
Asian equity markets slipped on Thursday as uncertainty over a de‑escalation of the Iran war weighed on investor sentiment, with the Nikkei down 0.3%, the Kospi off 1.9% and the Hang Seng falling 1.4%. Oil prices rebounded, lifting Brent crude...
Japan's Nikkei index climbed 0.61% to 54,075, driven by a 6.2% jump in SoftBank shares after Arm Holdings forecast strong data‑center chip revenue. The rally reflects growing optimism that Middle‑East tensions may ease, even as the market stays below its...
Indian equities are currently reacting more to US President Donald Trump’s statements than to fundamentals, with oil price swings amplifying market volatility. Dipan Mehta of Elixir Equities warns that the March earnings quarter will be tepid and the June quarter...
The escalating U.S.-Israeli conflict in Iran is causing the most severe supply‑chain disruption in the luxury watch sector since the 1970s. Swatch and SwissWatchExpo, two industry heavyweights, are scrambling to protect sales by shifting inventory and event planning away from...
A Sierra Leone‑flagged Suezmax tanker, the Altura, was struck by drones near the Bosporus, damaging its bridge and engine room but causing no crew injuries. Turkish officials say the attack likely involved an unmanned underwater vehicle, a rare method in...
Foreign ministers of the G‑7 gathered in France to bridge a widening transatlantic rift over the Iran‑Israel war, as President Donald Trump warned of severe retaliation if Tehran rejects a peace deal. The two‑day summit, chaired by France, also featured...
The Bank of Korea says South Korea’s financial system stayed broadly stable in March but warns that Middle‑East tensions, uneven growth and persistent housing price gains could spark volatility. Board member Lee Soohyung highlighted the risk of foreign‑exchange swings, capital...
Asia is projected to generate an additional US$7 trillion in private consumption over the next ten years, a 40% rise comparable to adding today’s entire Chinese consumer market. A new Roland Berger report finds quality is the primary driver in fast‑growing economies...
The White House affirmed that diplomatic talks with Iran remain active, even as Tehran publicly rebuffed U.S. overtures and set new preconditions for ending the conflict. The discord underscores heightened tensions that have already rattled Middle‑East stability and global financial...
Affluent individuals and families are rapidly securing second passports as a hedge against escalating geopolitical tensions, driving a 62% surge in citizenship‑by‑investment (CBI) applications since 2023. Nauru’s newly launched program, which ties passport purchases to a Climate Resilience Fund, has...
These numbers, alongside the Iran war, keep the looming threat of rising inflation elevated, analysts say. The post Price of retail goods remains high in pre-Iran war data appeared first on Inside Retail Australia.
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The Regional Comprehensive Economic Partnership (RCEP) entered into force in 2022, creating the world’s largest free‑trade bloc with 15 Asia‑Pacific economies. Together the members represent roughly 30% of global GDP and population, and the pact cuts tariffs across a broad...
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The guide explains beggar‑thy‑neighbor policies—tariffs, quotas, and currency devaluation—as tools nations use to protect domestic industries at the expense of trade partners. It traces the concept from Adam Smith’s critique through the Great Depression, post‑World War II Japan, and the 1990s...
