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The study exploits South Korea’s Employment Permit System (EPS) as a natural experiment, showing that the pandemic‑induced 22% drop in low‑skill guest workers caused a sharp labour‑supply shock for manufacturing firms. Firms that relied heavily on EPS workers experienced higher closure rates and larger revenue losses than less dependent peers. Survivors did not replace migrants with Korean hires; instead they reassigned existing domestic staff to simpler, lower‑paid tasks. The evidence contradicts the notion that restricting low‑skill immigration automatically protects native workers.
New Zealand’s economy is faltering as the housing market, long used as a growth engine, remains 20% below its pandemic peak despite the Reserve Bank’s aggressive rate cut to 2.25%. The RBNZ now projects flat house prices for the year, while...
UK Prime Minister Keir Starmer will chair an emergency meeting with senior ministers and Bank of England Governor Andrew Bailey to assess the economic fallout from President Donald Trump’s 48‑hour ultimatum to Iran to reopen the Strait of Hormuz. The...
Recent reforms have modernised the Reserve Bank of Australia's governance but left its core inflation‑targeting framework unchanged, exposing a mismatch with today’s climate‑driven price pressures. Extreme weather events, overseas fuel shocks and soaring insurance costs are now regular contributors to...
The United States announced it will lift maritime sanctions on Iranian oil, allowing tankers to transport crude through the Strait of Hormuz without penalty. The move comes amid escalating military exchanges between Tehran and Washington‑backed Israel, which have driven oil...
U.S. equity benchmarks slipped to six‑month lows as concerns over a protracted Middle East war and rising oil prices intensified. The S&P 500 fell 1.5% and the Nasdaq 100 dropped 1.9%, while the Russell 2000 entered correction territory with a 2% decline. Brent...
India and the European Union are accelerating post‑summit engagement through a series of high‑level visits and ministerial meetings. An 11‑member European Parliament delegation will travel to India, while senior officials will hold Indo‑Pacific consultations in May on maritime security and...
A global sell‑off in equities and Treasuries intensified as the Iran war entered its fourth week, with no signs of de‑escalation. Gold extended its decline for a ninth straight day, highlighting a broad risk‑off across asset classes. Asian markets fell...
The Ministry of Labour and Employment plans a fresh Working Class Family Income and Expenditure Survey, the first in a decade, to support a base‑year update of the Consumer Price Index for Industrial Workers (CPI‑IW) to 2025. The survey will...
Around 40 countries, including India and Turkey, have lodged objections to a China‑led Investment Facilitation for Development (IFD) proposal at the WTO ministerial meeting. Proponents aim to adopt the framework as a plurilateral agreement at the MC14 in Cameroon, arguing...
Thailand's Finance Ministry is evaluating oil excise tax reductions to curb retail fuel prices while protecting fiscal health. A 1 baht cut in diesel excise would forfeit roughly 2 billion baht, and a similar cut for gasoline would cost about 800 million baht....
Amazon is treating India as a long‑term growth market, expanding its zero‑referral‑fee program to cover roughly 125 million products. The company announced an additional $35 billion investment in India by 2030, on top of the $40 billion already spent. A new air...
International Energy Agency chief Fatih Birol warned that the Middle East war poses a major threat to the global economy as at least 40 energy assets across nine countries are severely damaged. Oil prices surged past $100 a barrel for...
Oil futures surged on Monday as U.S. President Donald Trump warned Iran of bombing its power plants unless the Strait of Hormuz reopened within 48 hours. Brent crude rose 1.27% to about $113.5 a barrel and WTI to $99, pushing...
Iran’s UN maritime representative Ali Mousavi announced that the Strait of Hormuz remains open to all vessels except those linked to “Iran’s enemies.” The statement follows a U.S. warning that Tehran’s power plants could be targeted if the strait is...
President Donald Trump issued a 48‑hour ultimatum demanding Iran fully reopen the Strait of Hormuz or face the obliteration of its power plants. Iran responded by threatening to strike U.S. energy, information‑technology and desalination infrastructure across the Gulf. The exchange...
The Trump Administration announced temporary licenses to allow Iranian and Russian crude to move and offered 86 million barrels from the U.S. Strategic Petroleum Reserve (SPR). Experts argue the licensing is largely symbolic, as sanctions, insurance gaps, and financing constraints keep...
The European Union is weighing safeguard duties on rice imports after the Federation of Rice Millers pressed for a review of existing trade agreements. EU rice imports have reached roughly 1.7 million tonnes, a large share arriving under zero‑tariff arrangements. A...
A Renmin University report urges China to trim its $3.42 trillion foreign‑exchange reserves, which sit at roughly 16% of GDP, to a more moderate level of about 11.5% of GDP as the yuan gains global traction. The paper argues that a...
The 14th WTO Ministerial Conference in Yaounde will focus on institutional reforms aimed at reviving a stalled dispute‑settlement system and accelerating negotiations. India is warning that any changes must preserve consensus‑based rule‑making, MFN treatment and Special & Differential Treatment for...
South Korea named economist Shin Hyun‑song, famed for foreseeing the 2008 crisis, as the next Bank of Korea governor as the nation confronts inflation risks from the Iran war and uneven Asian growth. In the United States, a federal jury held...
Iran warned it will destroy oil facilities and critical infrastructure across the Middle East if the United States strikes its power plants, following President Donald Trump's ultimatum to reopen the Strait of Hormuz by March 23. The parliamentary speaker Mohammad Bagher Ghalibaf said...
Bloomberg’s Emerging Markets podcast notes that soaring oil prices have forced a revision of global interest‑rate expectations, unsettling the once‑popular strategy of investing in emerging‑market local‑currency bonds. The energy price shock is prompting investors to unwind positions as higher rates...
African banking giants from Nigeria and South Africa are accelerating acquisitions and greenfield launches in East Africa, drawn by Kenya’s role as a regional financial hub and the trade‑finance potential of the African Continental Free Trade Area. The Central Bank...
The U.S. Supreme Court struck down tariffs imposed under the International Emergency Economic Powers Act, overturning a key tool used to target imports linked to fentanyl, migration and other concerns. The decision opens the door to potentially $166 billion in refunds...
Indonesia's government lifted its first‑quarter GDP growth outlook to 5.7%, up from 5.5%, citing strong holiday‑season consumption. Finance Minister Purbaya Yudhi Sadewa said the surge stems from household spending during Ramadan‑Idul Fitri and resilient private‑sector demand. The administration also pledged to...
The Bank of England is expected to keep its policy rate unchanged through next year, as inflation pressures persist. Oxford Economics attributes the heightened risk to rising energy prices driven by geopolitical tensions in the Middle East. The central bank’s...
South Korea announced Shin Hyun Song, a veteran BIS official and financial‑stability scholar, as its next Bank of Korea governor. The nomination comes as the BOK faces heightened uncertainty from the Iran conflict, rising oil prices and a delicate balance...
Equity markets are underestimating the risk of a major energy shock from a potential closure of the Strait of Hormuz, which could choke global oil and LNG supplies. While U.S. economic growth remains solid, driven by fiscal stimulus and a manufacturing...
EU‑Iran trade collapsed to €3.72 billion in 2025, the lowest level in two decades, as renewed sanctions tightened economic ties. Germany remains the dominant EU partner, accounting for 31.8% of the remaining trade, followed by Italy and the Netherlands, together representing...
The escalation of the US‑Israel conflict with Iran has pushed global equity markets down more than 5%, dragging Australian superannuation returns lower. Median growth‑option super funds fell about 3% in March, leaving the financial‑year return at roughly 3.3%, while balanced...
India’s rapid economic rise is now threatened by the U.S.–Israeli war on Iran, which jeopardizes the Gulf’s oil and gas supplies that account for 40 % of its oil and 80 % of its gas imports. Disruptions to export routes and a...
The first collective economic health check since the U.S. and Israel struck Iran is underway, with purchasing‑manager indexes (PMIs) across the U.S., euro zone and other major economies expected to fall. Rising energy prices from disrupted shipping and production are...
China’s grain‑output forecasting system, honed over 46 years, now predicts national harvests with sub‑0.2% error, far outpacing the 5‑10% margins typical in the West. The model’s April release gives Beijing a six‑month lead before the autumn harvest, allowing pre‑emptive moves...
At the opening of the China Development Forum 2026, Premier Li Qiang called for a global pledge to deepen economic openness, warning that protectionism is not a cure for current challenges. He indirectly rebuked the United States, suggesting its trade...
The Houthis, known as Ansar Allah, have so far avoided direct involvement in the US‑Israel‑Iran war but recent statements suggest they are reconsidering. Their political bureau said “all options are on the table,” hinting at possible alignment with Iran against...
Iran launched two missiles that struck the Israeli towns of Arad and Dimona, injuring more than 100 people, including civilians and a child. The attack damaged residential structures and hit the area believed to house Israel’s undeclared nuclear arsenal, prompting...
Business investment across the OECD has remained weak since the Global Financial Crisis, but digital assets—hardware, software and databases—have surged. Real digital investment rose over 130% since 2007, outpacing non‑digital tangible investment, which barely moved. The United States leads the...
Brazilian President Luiz Inácio Lula da Silva warned at the CELAC summit that foreign powers are attempting to “colonise” Latin America by targeting critical minerals and rare earths. He cited U.S. actions such as the January 3 abduction of Venezuela’s Nicolás...
The World Health Organization reported that an attack on Al Deain Teaching Hospital in East Darfur killed at least 64 people, including 13 children, and wounded 89 others. The strike destroyed the hospital’s paediatric, maternity and emergency units, rendering the...
Traders now price a greater than 60% chance the Federal Reserve will raise rates by October, after the March meeting left the policy range unchanged. A surge in Brent crude above $109 per barrel has pushed 10‑year Treasury yields to...
The outbreak of war in the Middle East is sending shockwaves through the global economy, prompting the first coordinated health check via business surveys across the United States and the euro zone. Bloomberg’s median forecast expects every purchasing managers index...
Analysis by the Open Source Centre traced four sanctioned vessels that have moved between 8 million and 11 million North Korean artillery rounds to Russia since September 2023. The ships—Angara, Maia‑1, Maria and Lady R—used deceptive AIS filings that listed South Korean ports while...
The article presents the Virtual Watch Tower (VWT) as a new, federated model for maritime and intermodal supply‑chain visibility, positioning it against proprietary control towers, state‑run platforms, and defence‑only networks. VWT treats situational awareness as a public good, using the...
President Donald Trump issued an ultimatum giving Iran 48 hours to reopen the Strait of Hormuz to commercial shipping. The deadline follows Iran’s closure of the waterway in response to the US‑Israel war on Iran, and Tehran warned it would...
Market strategist Ross Gerber warned that persistent inflation is dampening optimism for both equities and bonds. He observed a surge in selling pressure, indicating investors are turning more bearish. Gerber stressed that inflation is unlikely to subside soon, undermining the...
The G7 foreign ministers declared they are prepared to take necessary steps to safeguard global energy supplies and secure key maritime routes, notably the Strait of Hormuz. They condemned Iran’s attacks on civilian and energy infrastructure and voiced support for...
The Reserve Bank of Australia announced another interest‑rate increase as inflation and cost‑of‑living pressures intensify, compounded by geopolitical risks from the war in Iran. Independent economist Nicki Hutley, featured in Guardian Australia’s “Full Story” podcast, argued the central bank should...
On March 20, Fox Business aired the latest episode of Maria Bartiromo’s Wall Street. The 20‑minute program gathered leading Wall Street analysts to dissect current economic trends and market outlooks. Highlights included commentary on inflation, Federal Reserve policy, and the...
Former Nepalese prime minister Baburam Bhattarai says the recent general election, which delivered a landslide victory to rapper‑turned‑politician Balendra Shah’s Rastriya Swatantra Party, marks a political reset for Nepal. He argues the new mandate offers a chance to revive India‑Nepal...
