Govt Says No Diversion of Iranian Crude Cargo to China, Supplies Fully Secured
India’s Ministry of Petroleum and Natural Gas refuted claims that an Iranian crude cargo destined for Vadinar was rerouted to China, labeling the reports factually incorrect. The ministry emphasized that Indian refiners continue to source crude from more than 40 countries, including Iran, with no payment‑related obstacles. It also clarified that the LPG vessel Sea Bird, carrying roughly 44,000 metric tonnes of Iranian LPG, is unloading in Mangalore. Additionally, over 12,000 households with piped natural gas have voluntarily surrendered subsidised LPG connections via the MyPNG‑D portal.
Your Produce Bill Is About to Get Pricey as the Iran War Jacks up US Food Costs
U.S. grocery prices for fresh produce are spiking as the Israel‑Iran war drives oil above $100 per barrel, inflating diesel and refrigeration costs. USDA data show wholesale lime prices up 63% and blueberries up 44% between late February and March....
EU-India FTA May Boost India's Competitiveness in some Sectors: EY Report
EY’s March 2026 European Economic Outlook notes that the newly announced EU‑India free trade agreement will have limited macro impact on Europe but could sharpen India’s competitiveness in select sectors such as minerals and textiles. The report flags that U.S....
UAE Squeezes Iranian Economic Lifeline in Retaliation for Attacks
Facing a wave of Iranian air strikes on its industrial sites, the United Arab Emirates has moved to choke off Tehran’s economic lifeline. The UAE quietly imposed a near‑total ban on Iranian nationals entering the country or transiting through its...
Supply Shocks and Fiscal Math: How the War Is Stress-Testing India’s Economy
In a recent Businessline State of the Economy podcast, Union Bank of India's chief economic advisor Kanika Pasricha dissected the early economic effects of the Ukraine‑Russia war on India. She highlighted a steep decline in the manufacturing PMI caused by...
Silver Drags Commodity ETFs Down up to 15% in March. What Next for Investors?
In March 2026, silver‑focused commodity ETFs slumped as much as 15%, with UTI Silver ETF posting the steepest decline of –14.72%. The broader commodity‑ETF universe saw 43 funds in the red, while gold ETFs also recorded double‑digit losses. The sell‑off...
Think. Over the Week
India’s economy faces a turbulent 2026 as oil price spikes from the Iran‑war threaten its trade deficit, current‑account balance, growth and inflation targets. The editorial notes that budget assumptions are unraveling, but a swift end to the conflict could limit...
Sri Lanka Struggles to Avert Economic Collapse over Mideast War
Sri Lanka’s government has slashed fuel supplies, raised fuel prices by a third and hiked electricity tariffs up to 40% as the Middle‑East war strains global energy markets. The country is also coping with the aftermath of Cyclone Ditwah, which...
GDP Rises 7.83% in Q1, Highest in 16 Years
Vietnam’s economy expanded 7.83% year‑on‑year in Q1 2026, the strongest pace in 16 years. Services drove growth, contributing 50.32% of added value, while industry‑construction posted a 9.01% rise and manufacturing surged 9.73%. Trade activity reached $249.5 billion, up 23%, and 96,000...
US-Israeli War on Iran Threatens Syria
The United States and Israel have stepped up coordinated air strikes against Iranian‑backed facilities in Syria, marking a sharp escalation in the covert war on Tehran. Syrian air defenses have shot down several missiles, while Iranian militias report casualties and...
How Emerging Markets Borrow: New Evidence on Sovereign Bond Issuance
The authors analyze 75,000 sovereign bond auctions from 20 emerging‑market economies (2000‑2023) to uncover how timing decisions differ by currency. Local‑currency issuances closely track refinancing needs, while foreign‑currency issuances are driven by global financial conditions, investor sentiment, and terms‑of‑trade shocks....
Pharma Tariffs Pressuring Smaller Companies to Do MFN Deals
BioCentury’s website now outlines a comprehensive cookie framework that classifies cookies into five distinct groups: strictly necessary, functional, marketing, advertising, and analytics. Each category serves a specific purpose, from enabling authentication and core site functions to gathering anonymous usage metrics...
U.S.-Iran War Is Stranding Sailors In The Strait Of Hormuz
The U.S.-Iran conflict has effectively shut the Strait of Hormuz, stranding roughly 2,000 vessels and 20,000 seafarers in the Persian Gulf. The United Nations notes this is unprecedented in modern maritime history, as 19 attacks on civilian ships have already...
Ratification of EU-US Trade Deal Could Be Imminent Amid White House’s Latest Tariff Adjustments
The United States has revised tariffs on metals and pharmaceuticals, signaling a possible ratification of the long‑awaited EU‑U.S. trade agreement. New duties cap pharma tariffs at 15% for the EU, Japan, South Korea and 10% for the UK, while steel...
Will the Iran War Redraw the Global Energy Map?
The Iran‑Israel conflict has forced the closure of the Strait of Hormuz, instantly choking a key artery for global oil shipments. The disruption has triggered a sharp supply shock, pushing crude prices higher and exposing Asia’s heavy reliance on Middle‑East...
Stabilizing Foreign Investment: China’s Upgraded Industry Investment Guide
China’s National Development and Reform Commission and Ministry of Commerce launched the 2025 Catalogue for Encouraged Industries for Foreign Investment on February 1, 2026, expanding the list to 1,679 entries – 205 new and 303 revised. The updated guide pivots...
FMC Again Rejects Maersk Petition to Waive Notice Period for Emergency Fuel Surcharge
The Federal Maritime Commission (FMC) has again denied Maersk’s petition to waive the statutory 30‑day notice required before imposing an emergency bunker fuel surcharge on U.S. trades. The carrier’s request, filed on March 11, was unanimously rejected, meaning Maersk cannot apply...
Textile Exporters Urge Govt to Waive Cotton Import Duty
Indian textile exporters have asked the government to suspend the 11% import duty on cotton, citing a recent 7‑8% rise in domestic cotton prices and an 11‑12% jump in ginned cotton costs. International cotton prices have also climbed 12‑15%, squeezing...
Mideast Uncertainty Keeps Pressure on Equities
Asian equities stayed under pressure as the Middle East conflict dampened optimism, though the Thai SET index nudged up 0.5% to 1,454 points, supported by net buying of roughly $126 million from brokerages. Oil price fears linger, with European policymakers warning...
French-Owned Ship Passes Through Strait of Hormuz
A Malta‑flagged container ship owned by French carrier CMA CGM became the first major Western European vessel to transit the Strait of Hormuz since the US‑Israeli war with Iran halted traffic. Iran has said “non‑hostile” ships may use the waterway, but...
Senators Urge Trump to Bar Chinese Automakers From Building Cars in US
Three Democratic senators—Tammy Baldwin, Elissa Slotkin and Chuck Schumer—urged President Donald Trump to bar Chinese automakers from building vehicles in the United States and from importing cars assembled in Mexico or Canada. They cite national‑security risks and an unfair competitive...
The World’s Leading Chocolate Country: Not Belgium but the Netherlands
The Netherlands has become the world’s top exporter of cocoa products, overtaking Germany in 2024 and solidifying its lead in 2025. Export revenues surged from €4.2 bn in 2020 to €12.4 bn in 2025, a near‑threefold increase that adds roughly €3 bn ($3.3 bn)...
Trump Loses Grip as Oil Surge Signals Deeper Crisis
Oil prices surged past $140 a barrel as renewed U.S.-Iran tensions reignited market bullishness, pushing WTI and Brent to levels not seen since 2008. OPEC+ is weighing a 206,000‑barrel‑per‑day production increase for May, despite most members having cut output amid...
HUL, Dabur, Asian Paints Likely to See Margin Pressure on Rising Crude and Input Costs: Axis Securities
Axis Securities warns that the US‑Iran conflict‑driven surge in crude oil and LNG prices will compress margins across FMCG, paints, quick‑service restaurants and retail. Crude has risen over 60% since late February, while India imports about 85% of its oil...
Saudi Arabia Drops Export Verification for US Beef
The Saudi Food and Drug Authority announced that U.S. beef shipments will no longer need to undergo the Export Verification (EV) Program, and the kingdom now permits bovine‑derived tallow in animal feed. The policy shift removes a barrier that has...
Economist Slok Sees ‘Nike Swoosh’ Recovery for US
Apollo chief economist Torsten Slok predicts a "Nike swoosh" recovery for the U.S. economy, citing a three‑month average of 68,000 jobs—well above the Federal Reserve’s 10,000 break‑even threshold. He points to three emerging tailwinds: accelerated AI‑related data‑center spending, an industrial...
The New Global Challenges Facing Made in Italy
The latest Mimit report, released ahead of National Made in Italy Day, highlights Italy’s ability to thrive in a post‑pandemic world despite heightened geopolitical tensions and supply‑chain fragility. Export diversification and market breadth have kept Italy among the top exporters,...
TSMC’s Kumamoto Fab Upgrade: A Security-Driven Reconfiguration of Indo-Pacific Chip Competition
Taiwan Semiconductor Manufacturing Company (TSMC) will upgrade its Kumamoto, Japan fab to a 3‑nanometer process, targeting 15,000 12‑inch wafers per month and mass production by 2028. The $20 billion investment, backed by $4.62 billion in Japanese subsidies and equity from Sony, Denso...
Roku TVs Could Be Banned in The US As A US Trade Panel Probes Them For Patent Violations
The U.S. International Trade Commission has launched a Section 337 investigation into Roku and Hisense display devices after InnoTV Labs claimed the products infringe its streaming‑technology patents. The probe, opened on April 1, 2026, could lead to a limited exclusion order that bars...
The USMCA Review Is Shaping up to Be a Grind, Not a Grand Bargain
The six‑year USMCA review, due July 1, is shaping up to be a protracted negotiation likely spilling into 2027. Mexico is leaning into deeper U.S. integration while Canada hedges by diversifying trade partners, creating divergent bargaining positions. Washington is pressing for...
What Markets Have Learned Since Trump's Liberation Day Tariffs
One year after President Trump’s surprise “Liberation Day” tariffs, U.S. equities suffered their worst one‑day sell‑off since 2020, with the Dow plunging nearly 1,700 points and a second drop approaching 2,000 points the following day. Tech giants Apple and Nvidia...
Why Australia Should Not Participate in a Trump-Led Invasion of Iran
Australia should reject any Trump‑led invasion of Iran, according to a recent analysis. The piece argues that strategic ambiguity in U.S. policy, Australia’s limited military reach, and the absence of a clear end‑state make participation too risky. It also highlights...
One Year After ‘Liberation Day,’ Tariffs Reshape Global Trade Landscape
April 2, 2025 marked "Liberation Day," when the U.S. invoked the International Economic Emergency Powers Act to impose sweeping tariffs on most trading partners. The tariffs aimed to shrink the trade deficit, curb fentanyl inflows, and boost domestic manufacturing, but...
Are Oil Tankers Moving Through Hormuz Again?
The Strait of Hormuz, once handling roughly 100 east‑to‑west crude tankers daily, saw traffic collapse amid the Iran conflict, prompting concerns about global oil supply. Analysts now question whether tanker movements have resumed, as the region remains a critical chokepoint...
How the Iran War Is Fuelling Wild Swings in Interest-Rate Bets
The Iran war has injected fresh uncertainty into global inflation and growth forecasts, prompting dramatic swings in interest‑rate swap markets across the US, UK and Europe. Traders have shifted from betting on rate cuts to pricing multiple hikes within minutes,...
Pakistanis Face up to 54% Rise in Fuel Prices
Pakistan announced record fuel price hikes on April 3, 2026, with petrol rising 49 cents per litre and diesel jumping 67 cents, a rise of up to 54 percent. The surge, driven by the Middle East conflict and global oil price spikes, follows...
Japanese Airlines Mull Fuel Surcharge Hikes Due to Mideast War
Japanese carriers Japan Airlines (JAL) and All Nippon Airways (ANA) are weighing fuel surcharge increases as oil prices surge following the Middle East war that shut the Strait of Hormuz. Both airlines say no formal decision has been made, but...
World Food Prices Rise Set to Continue if Iran War Lasts
The FAO Food Price Index rose 2.4 % in March, reaching its highest level since September 2023. Higher oil prices and the ongoing Middle East conflict are driving modest but notable increases across key commodities such as wheat, vegetable oil and...
Rates Spark: Markets Don't See A Solution Yet
Markets remain unsettled as President Donald Trump's rhetoric fails to provide a clear policy path, keeping oil prices elevated and risk aversion high heading into a long weekend. In the UK, investors now price roughly 50 basis points of Bank...
Hormuz Blockade Driving a Gulf Logistics Revolution
Iran's blockade of the Strait of Hormuz forced Gulf states to fast‑track a network of alternative logistics corridors, including the Oman‑UAE Green Corridor, a Saudi‑UAE trade bridge, and the Gulf Shuttle maritime service. New ultra‑heavy‑lift cranes, expanded rail capacity and...
Former South African Finance Minister Calls for African Renewal Amid Shifting World Order
Former South African finance minister Trevor Manuel warned that soaring oil prices from Middle‑East conflict are amplifying energy and food shocks across Africa, threatening the continent’s poorest households. Speaking at the Adebayo Adedeji Lecture in Tangier, he urged finance ministers...
‘Liberation Day’ Anniversary, War on Iran, Taiwan’s KMT Visits Beijing
China commemorated the anniversary of its Liberation Day with large‑scale patriotic displays and a televised military parade, underscoring Beijing’s emphasis on national unity. At the same time, Chinese officials issued stark warnings to the United States and its allies over...
Splash Wrap: Hormuz Bells Are Ringing
Iran’s parliament approved a formal toll and access regime for the Strait of Hormuz, signalling a new revenue stream and heightened navigation controls amid the ongoing US‑Israeli conflict. Satellite images confirmed severe damage to Russia’s key Baltic energy‑export ports after...
The Middle East’s Butterfly Effect on the Global Economy
Gulf sovereign wealth funds now control roughly $4.9 trillion and are projected to exceed $7 trillion by 2030, making the region a top global capital allocator. Recent tensions in the Strait of Hormuz cut oil shipments, sending crude above $100 a barrel...
Hyundai Motor Flags Export Disruptions as West Asia Conflict Hits Shipping
Hyundai Motor warned that its exports to Europe and North Africa are being disrupted as the West Asia conflict blocks key shipping routes. The blockage has driven up freight costs, forced cargo diversions, and pressured parts suppliers with raw‑material constraints....
Australia Slowdown Signals Tougher Operating Environment for Corporates
Deloitte Access Economics warns that Australia’s economy will decelerate sharply, with real GDP growth projected to fall from 2.6% in 2025 to about 1.8% by the end of 2026 and modest 1.9% growth in 2026‑27. Inflation is expected to peak...
Iran War Could Spur Europe to Double Down on Renewables — Again
The Iran war has halted Qatar’s liquefied natural gas output, sending EU gas prices soaring and reviving the bloc’s energy‑security alarm. EU energy chief Dan Jørgensen urged member states to accelerate renewable construction, echoing the post‑Ukraine‑invasion push. Between 2021 and 2025...
French and Japanese-Owned Ships Make First Hormuz Crossings
On April 3, 2026, the French‑flagged container vessel CMA CGM Kribi became the first Western European‑registered ship to navigate the Strait of Hormuz since the Iran‑related conflict began a month earlier. On the same day, Mitsui OSK Lines confirmed that its partially owned LNG...
US Tariff Uncertainty Pushes Indian Exporters to More Stable Markets Like Japan
Indian textile exporters are facing near‑impossible conditions in the United States after a Supreme Court decision overturned Trump‑era tariffs and a new 10% global duty was imposed. The uncertainty has forced manufacturers to cut production, lay off workers, and accept...
Momentum Builds for Local Drug Production
Africa imports over 70% of its medicines and 99% of its vaccines, leaving the continent vulnerable to supply shocks. The local pharmaceutical sector is modest, with roughly 375 manufacturers compared with thousands in China and India, and most firms only...