Delegation to Visit Washington as India, US Look to Revive Trade Deal Talks
The United States and India first outlined a bilateral trade framework in February 2026, promising to slash reciprocal tariffs on industrial goods and lower duties on U.S. agricultural products. Momentum stalled when the U.S. Supreme Court invalidated the reciprocal‑tariff mechanism, leaving the pact unfinished. U.S. Ambassador Sergio Gor announced that a senior Indian delegation will travel to Washington later this month to revive negotiations. The visit will also let India raise concerns about two Section 301 investigations into excess capacity and forced labour.
India’s Worrying Plans for Dams on Transboundary Rivers Shared with Bangladesh
India’s northeastern state of Meghalaya is accelerating a suite of hydropower projects on the Myntdu and Kynshi rivers, including the 210 MW Myntdu‑Leshka Stage II and several upstream schemes. The detailed project reports are finished and the state government is seeking central...
Chhangani Cited in FT Article on the Banks and Financial Institutions Willing to Launder Dollar Payments for Iran
The Financial Times reported that a network of banks and financial institutions is facilitating dollar‑denominated payments for Iran, effectively laundering sanctions‑evading funds. Atlantic Council senior fellow Alisha Chhangani is quoted highlighting how correspondent‑bank relationships and opaque shell entities enable the...
Spain Condemns Israel Strikes, Deepening Rift with the US
Spain’s foreign minister José Manuel Albares publicly condemned Israel’s airstrikes on Lebanon and the broader war on Iran, labeling them an assault on humanist civilization. Prime Minister Pedro Sánchez called the conflict reckless, illegal and urged the EU to scrap...
EU Sanctions Back on Agenda Amid Israel’s ‘Carnage’ in Lebanon
EU officials warned that sanctions against Israel are back on the table after Israeli airstrikes in Lebanon killed roughly 200 people. Commission President Ursula von der Leyen will convene emergency talks with her 26 commissioners, and the EU could suspend the EU‑Israel...
The Price of Strategic Autonomy: India and the Iran Conflict
India’s doctrine of strategic autonomy—balancing ties with Israel and Iran—faces a test as the Iran‑U.S./Israel conflict escalates. New Delhi has offered vague calls for de‑escalation while refraining from condemning recent Israeli airstrikes, prompting doubts about its reliability. The ambiguity threatens...
Ceasefire Offers Little Relief to Indian Plastic Makers
Indian plastic converters are facing sharply higher feedstock costs as the US‑Iran ceasefire fails to ease supply constraints. Polypropylene raffia prices have jumped 49% to $1,300‑$1,400 per ton and low‑density polyethylene is up 54% to $1,600‑$1,700 per ton since late...
Head of IMF Says Iran War Will Permanently Scar Global Economy Even if Peace Is Reached
International Monetary Fund Managing Director Kristalina Georgieva warned that the Iran war will leave a permanent scar on the global economy, even if a durable peace is achieved. The conflict forced the IMF to downgrade its 2026 global growth outlook...
Fuel Shortages, Hunger, Inflation Spiral: IMF Fears ‘Scarring’ Harm From Iran War
International Monetary Fund Managing Director Kristalina Georgieva warned that the ongoing US‑Israel‑Iran conflict will trigger widespread fuel shortages, heightened hunger and an inflation spiral, leaving lasting scarring effects on the global economy. Disruptions in the Strait of Hormuz are expected...
How War in the Middle East Paralysed an Asian Food Giant
The war in the Middle East has sharply curtailed oil and fertilizer shipments, driving diesel prices in Vietnam’s Mekong Delta to double and depleting fertilizer stocks to a fraction of normal levels. Rice mills have halted operations and barges sit...
Trump Calls for 50% Tariff on Goods From Nations Arming Iran
President Donald Trump announced via Truth Social an immediate 50% tariff on goods from any nation supplying military weapons to Iran. The White House has not released formal documentation, leaving the legal authority unclear after the Supreme Court recently blocked...
The Decline and Fall of the Dollar Empire
Barry Eichengreen argues that the United States is losing its status as the world’s primary currency issuer, likening today’s dollar decline to the fall of Rome’s denarius. He points to chronic economic stagnation, a debt load surpassing $31 trillion, and costly...
IMF Warns of Deepening Global Food Crisis as Fertilizer Prices Surge
The International Monetary Fund warned that soaring fertilizer prices are set to deepen the global food crisis, potentially pushing the number of people facing hunger above 360 million. IMF Managing Director Kristalina Georgieva highlighted that transport disruptions and higher input costs are...
Wall St Opens Muted over Fragile Mideast Truce
Wall Street opened muted on Thursday as the Dow Jones slipped 69.3 points, or 0.14%, to 47,840.63. The S&P 500 was essentially flat, down 0.01% to 6,783.69, while the Nasdaq nudged higher 0.05% to 22,646.35. The moves came amid growing...
Wall Street Edges Higher on Optimism over Middle East Truce’s Stability After Israel Agrees for Talks with Lebanon
Wall Street rallied Thursday as investors grew optimistic that Israel’s decision to open direct talks with Lebanon could cement a fragile cease‑fire in the Middle East. The S&P 500 gained 0.6%, the Dow 0.7% and the Nasdaq 0.7% by early...
Egypt’s Foreign Minister: One Cannot Secure Waterways ‘While Ignoring the Political Order of the States’ Along the Shore
Egyptian Foreign Minister Badr Abdelatty warned that Red Sea security cannot be ensured without political stability in the Horn of Africa, linking maritime chokepoints to Egypt’s Suez Canal revenues. He cautioned that unilateral recognition of Somaliland threatens African sovereignty norms...
This Isn’t a 1970s Oil Shock
The Iran war has turned the Strait of Hormuz into a critical bottleneck for both crude oil and liquefied natural gas, pushing oil prices up about 40% in six weeks and affecting roughly 20% of global oil consumption and 25%...
OECD Tells Reeves to Reform ‘Inefficient’ UK Tax System
The OECD has urged Chancellor Rachel Reeves to launch a comprehensive review of the United Kingdom’s tax system, calling it inefficient and growth‑dragging. The report recommends broadening the VAT base, updating council‑tax valuations from 1991, and eliminating regressive reliefs on...
Iran War Doubles Russia's Main Oil Revenue to $9 Billion in April
Russia’s mineral extraction tax on oil is set to double in April, reaching roughly $9 billion, after the Iran‑related crisis drove Brent futures above $100 per barrel. The surge stems from the Strait of Hormuz closure following US and Israeli airstrikes,...
Consumer Price Index (CPI) for March 2026 Is Projected to Rise 3.4% Year-Over-Year
FactSet’s median forecast shows the consumer price index rising 3.4% year‑over‑year in March 2026, the strongest gain since April 2024 and above the 12‑month average of 2.6%. The core CPI is expected to increase 2.7% YoY, while February’s CPI posted...
Oil Prices Hit $100 With Hormuz Closed Despite Ceasefire, But S&P 500 Diverges
U.S. crude prices surged past $100 a barrel as Iran kept the Strait of Hormuz closed, demanding Israel halt attacks on Hezbollah in Lebanon. The closure reignited supply‑risk premiums, pushing the near‑term WTI contract up 5.8% after briefly topping $102....
A 1,300% Rally Turns a Tiny Shipping ETF Into an Iran War Gauge
Breakwave Tanker Shipping ETF (BWET) has exploded 1,300% over the past year, rising from about $10 to nearly $150 per share, making it 2026’s top‑performing US‑listed ETF. The fund’s performance is tightly tied to VLCC freight rates, especially the cost...
India’s Long Work Year
India’s workers logged an average of 2,605 hours in 2019, the highest among the countries covered by the FRED database. Bangladesh and Pakistan followed with more than 2,400 hours, while the United States recorded under 1,800 hours. The metric—average annual...
Commerce Department Report Shows 3% Core Inflation in February
The Commerce Department reported that core personal consumption expenditures (PCE) inflation rose 3% year‑over‑year in February, a slight dip from January’s pace. Headline inflation increased 2.8%, both figures matching Dow Jones consensus. The Federal Reserve’s March minutes signaled that a...
Goldman: Oil Could Remain at Crisis Prices for Rest of Year
Goldman Sachs warned that oil prices could stay above $100 a barrel for the remainder of 2026 if the Strait of Hormuz remains closed for another month. The strategic waterway, which carries roughly one‑fifth of global seaborne oil, has been...
International Business Briefs | China’s Car Sales Keep Falling as Fuel Prices Jump
China’s passenger‑car market contracted for a sixth straight month in March, with sales falling 15.2% year‑over‑year to 1.67 million units as higher fuel prices curb demand for gasoline models and EV incentives wane. South Korean automaker Kia trimmed its 2030 electric‑vehicle...
François Villeroy De Galhau: Navigating an Uncertain World - Steering Monetary Policy in the Right Direction to Hold Our Course
At a Sciences Po address on April 2, 2026, Bank of France Governor François Villeroy de Galhau highlighted that the eurozone entered the year with a rare "2 % inflation, 2 % interest rate" equilibrium. He warned that the ongoing Middle East conflict could reignite...
Close Your Borders, Wreck Your Economy: Spain Has Done the Math on Clamping Down Migration
Spain’s National Office of Foresight and Strategy released a report modeling the economic fallout of a 30% annual reduction in migration. The model projects GDP shrinking 5% within a decade, 14% by 2055 and 22% by 2075, while the labor...
US Stock Market Today: Dow, S&P 500 Futures Fall over 0.5% as Middle East Tensions Resurface
US stock futures slipped 0.3‑0.6% on Thursday as renewed Middle East tensions cast doubt on the two‑week ceasefire between Iran and Israel. The Dow, S&P 500 and Nasdaq all gave back gains from Wednesday’s rally. Iran’s claim that Israel breached the...
Morning Reads
The Federal Reserve’s upcoming inflation releases show core PCE projected at 2.83% year‑over‑year for February and March core CPI expected at 2.60% YoY, indicating a modest slowdown but still above the 2% target. Fed minutes highlighted higher oil prices from...
Iran Says U.S. Breached Ceasefire, Anthropic's Court Loss, Rate Cut Odds and More in Morning Squawk
The Dow surged over 1,300 points even as Iran accused the United States of breaching their cease‑fire agreement, sparking concerns over oil‑tanker traffic in the Strait of Hormuz and nudging crude prices higher. In Washington, a federal appeals court denied...
How the Strait of Hormuz Stifled a Market Rally
Investors turned bearish as the fragile U.S.-Iran cease‑fire raised doubts about reopening the Strait of Hormuz. The waterway, which moves roughly a quarter of global oil and gas shipments, remains congested, dampening the market rally sparked earlier in the week....
What to Know About the Bab El-Mandeb Strait as Iran Threatens to Restrict Other Key Trade Passage
Iranian officials have warned they could leverage the Bab el‑Mandeb Strait as a geopolitical bargaining chip, mirroring their threats on the Strait of Hormuz. The chokepoint, which links the Red Sea to the Gulf of Aden, currently handles about 4.2 million...
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The Reserve Bank of India: Functions & Role
The Reserve Bank of India (RBI), founded on April 1, 1935 under the RBI Act of 1934, serves as India’s central bank and monetary authority. It formulates and implements monetary policy, regulates currency issuance, and oversees the nation’s credit and foreign‑exchange markets....
Why the Costs of Fiscal Adjustment Have Been Underestimated in Africa
New IMF‑backed research using AI‑assisted narrative analysis finds that fiscal tightening in sub‑Saharan Africa is far more contractionary than earlier studies suggested. A 1 % of GDP consolidation cuts real output by about 0.5 % after two years, with spending cuts delivering...
One Year In: How Medtech Companies Are Coping with Tariff Challenges
One year after the Trump administration’s “Liberation Day” tariffs, medtech firms are still feeling the cost impact, with annual hits of $200 million to $500 million for large players. While the sector has not pursued large‑scale reshoring, companies are absorbing costs, seeking...
Oil Prices Rise to Nearly $100 After Iran Accuses U.S. of Breaching Ceasefire Deal
Oil prices surged on Thursday, with Brent crude reaching $98.54 a barrel and U.S. WTI climbing to $99.41, after Iran accused Washington of violating three elements of a two‑week cease‑fire agreement. Iran’s parliamentary speaker cited Israel’s strikes in Lebanon, a...
Songkran Spending Set to Fall This Year
The University of the Thai Chamber of Commerce trimmed its Songkran festival spending forecast to as low as 120 billion baht (about $3.4 bn), down from 129.6 billion baht (~$3.7 bn), citing higher diesel prices and waning consumer confidence. A recent survey shows 67%...
Tech Stocks Regain Safe Haven Status Amid Iran Ceasefire
U.S. tech stocks reclaimed their safe‑haven status after a two‑week US‑Iran ceasefire, propelling the Nasdaq up 3.5% and lifting the Dow by more than 1,300 points. The rally was led by the so‑called Magnificent Seven, which have begun to recover...
How to Bypass the Strait of Hormuz with a Trucking Landbridge
The Loadstar interviewed Gaurav Biswas, CEO of TruKKer, about the surge in over‑land trucking routes that bypass the closed Strait of Hormuz. Since the US‑Israel‑Iran conflict began, TruKKer’s freight volumes have jumped roughly 30%, straining smaller Gulf ports that were...
The U.S. Government Is Spending $88 Billion a Month in Interest on National Debt—Equal to Spending on Defense and Education...
The Congressional Budget Office reports that the U.S. Treasury paid roughly $529 billion in net interest during the first six months of FY2025‑26, about $88 billion each month. This interest outlay matches the combined spending of the Defense and Education departments and...
Digital Goods Could Now Face Tariffs
After three decades of WTO protection, the moratorium on customs duties for electronic transmissions lapsed on March 31, 2026. Brazil and Turkey blocked consensus to extend the rule, leaving the door open for individual nations to levy tariffs on software, digital...
How Bad Will the Economy Be?
The U.S. economy has shown unexpected resilience, even after Donald Trump’s return to the White House. However, analysts warn that a potential war with Iran and a wave of deregulation are creating systemic risks. The uncertainty is so high that...
The Big Picture
The United States is sending mixed economic signals: a stronger‑than‑expected jobs report suggests labor market resilience, while the Treasury Department has declared the nation fiscally insolvent. Global trade appears robust, yet investors are fleeing private‑credit funds amid fears of deteriorating...
EU Trade Boss to Visit US in April
EU Trade Commissioner Maroš Šefčovič will travel to the United States in late April, where he is expected to discuss a contentious technology‑related dialogue and the implementation of the EU‑U.S. joint trade statement. The EU continues to push back against U.S....
Canada Remains the Top Destination for US Equipment Despite Import Dip
U.S. equipment manufacturers shipped $5.1 billion of machinery to Canada in 2025, keeping the neighbor as the largest single market for American gear despite a 13.2% year‑over‑year decline. Overall U.S. equipment exports fell 9.7% to $20.8 billion, with Australia a distant second...
Return to Normal for Hormuz Could Be Months Away, Says DHL
Senior DHL Global Forwarding executive Tobias Maier warned that a return to normal ocean shipping through the Strait of Hormuz may take four to six months, even if the US‑Iran cease‑fire holds. Approximately 40 vessels remain trapped in the Arabian...
US Could Try to Rebut Aspects of EU's CBAM, S&P Says
S&P Global Energy warns that the United States may formally challenge elements of the European Union’s Carbon Border Adjustment Mechanism (CBAM). The potential rebuttal would likely be framed under World Trade Organization rules, arguing that the EU’s carbon levy discriminates...
Stakes Rise for Pakistan as It Prepares to Host US-Iran Face-to-Face Talks
Pakistan is set to host U.S. and Iranian delegations in Islamabad on April 11 for face‑to‑face talks aimed at ending the 39‑day war. The meeting follows a fragile two‑week cease‑fire that Pakistan secured through intense diplomatic effort. A Strategic Mutual Defense...
China EV Exports Jump to Record as Iran Oil Shock Entices Buyers
China's electric‑vehicle and hybrid exports surged 140% year‑over‑year in March, reaching a record 349,000 units, according to the China Passenger Car Association. The jump reflects renewed global interest in EVs after the Iran‑related oil shock disrupted energy markets. BYD accounted...