Gazprom Export Sues Former German Trading Subsidiary SEFE in Russian Court
Gazprom Export has filed a lawsuit against its former German trading arm SEFE Marketing & Trading in the St Petersburg Arbitration Court. SEFE, which was placed under German trusteeship in 2022 and nationalised with a €6.3 bn (≈ $6.9 bn) recapitalisation, now operates as a key LNG supplier. The case follows a series of Russian court actions, including anti‑suit injunctions and a €14.3 bn (≈ $15.6 bn) penalty against Uniper. The dispute highlights the escalating legal front in the Russia‑Europe gas conflict.
_6.jpg)
UAE Energy Minister Says World Must Not Be Held 'Hostage' By Iran over Hormuz
UAE Energy Minister Suhail al‑Mazrouei warned that Iran’s actions in the Strait of Hormuz could hold global trade hostage, urging a unified international response. He highlighted the potential economic fallout if safe passage is not guaranteed and stressed the UAE’s...
Ukraine Among Riskiest Markets as Equity Risk Premium Nears 20%
Ukraine’s equity risk premium has surged to roughly 19.8%, edging close to the 20% mark, making it one of the world’s most hazardous investment arenas. By contrast, mature markets such as Canada, Germany and Singapore sit near a 4‑5% premium,...
Air Freight Disruption Drives Surge in India-US Cargo Rates
Air freight rates from India to the United States have jumped 200‑350% since the third Gulf war began on February 28, driven primarily by severe capacity shortages. Gulf hubs such as Dubai and Abu Dhabi have lost roughly 79% of cargo capacity,...
Planet IPO Remains Open to Real Estate Developers on Borsa Istanbul Despite War Stress on Markets
Turkey’s capital markets board (SPK) approved Agaoglu Avrasya REIT’s IPO, offering 176 million shares (25% stake) at TRY 21.10 per share, raising roughly $84 million. The offering expands the REIT’s paid‑in capital to TRY 701 million and marks the fourth REIT IPO on Borsa Istanbul this...
EU Enlargement Rethink as Divisions Emerge Among Key Member States
The European Union’s next enlargement round faces a crossroads as member states clash over speed and criteria. A German Council policy paper highlights Germany’s shift toward geopolitically‑driven, merit‑based accession, while the EU rejected a fast‑track proposal for Ukraine, insisting on...
Bulgaria Unveils €100mn Package to Curb Impact of Rising Oil Prices
Bulgaria's caretaker government announced a €100 million (~$108 million) package to mitigate the impact of soaring oil prices, which have risen up to 24% since the Iran war. The plan includes a 50% electricity cost compensation for businesses when prices exceed €122/MWh...
Estonia to Fortify Grid with Concrete Shielding After Drone Hits Power Plant
Estonia’s transmission operator Elering will install concrete shielding around critical grid components after a drone struck the Auvere power plant’s chimney on March 25. The attack, likely originating from a Ukrainian‑run operation, highlighted the vulnerability of above‑ground infrastructure near the Russian...
All Nato Members Reach 2% GDP Defence Spending for the First Time
For the first time, every NATO member has met the alliance’s 2 % of GDP defence‑spending target, lifting total NATO defence outlays to a record $1.4 trillion, up from $1.3 trillion a year earlier. The surge is driven largely by Europe and Canada,...
Fitch Keeps Israel Credit Rating at A with Negative Outlook as War Costs Mount
Fitch reaffirmed Israel’s sovereign credit rating at A with a negative outlook on March 27, 2026, citing escalating war costs and fiscal strain. The agency highlighted that the ongoing Operation Lion’s Roar and northern front clashes forced Israel to exceed its budget...
Iran’s Ghalibaf Mocks US Ability to Protect Troops on Iranian Soil
Iranian parliament speaker Mohammad Bagher Ghalibaf publicly mocked the United States’ ability to protect its troops on Iranian soil, highlighting that U.S. forces are reportedly sheltering in civilian locations after recent strikes. He questioned how Washington could defend soldiers abroad when it...
Akbank Launches Turkish Banks' Spring Syndicated Loan Renewals Season at Tighter Spreads and 136% Rollover Rate Amid Iran Conflict
Akbank launched a $700 mn sustainability‑linked syndicated loan, comprising five tranches in USD and euros, with a 136% rollover rate. The 367‑day USD tranche priced at SOFR + 125 bp, the lowest spread since October 2016, while two‑year and three‑year tranches were set at SOFR + 1.75 %...
UAE Advances Alternative Trade Route to Bypass Strait of Hormuz
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...
Rosatom and Brazil's NBEPar Launch Joint Venture for Critical Minerals Extraction
Rosatom and Brazil's private holding NBEPar have created a joint venture, Nadina Minerals, to extract and process critical minerals in Brazil. The JV will focus on uranium and other high‑technology metals, targeting deposits in Paraná's Figueira region and Bahia's Caculé....
Iran Claims 1,321 Israeli and 800 US Troops Killed Since War Began
Iran’s senior armed forces spokesman, Brigadier General Abolfazl Shekarchi, announced that at least 1,321 Israeli soldiers and between 600 and 800 U.S. service members have been killed since the conflict began. He claimed a missile strike in Haifa killed around...
One in Five Lebanese Displaced in Three Weeks by Israel’s Invasion
Israel’s ground offensive in southern Lebanon has displaced roughly one million people, about 20 % of the country’s population, within three weeks. The operation aims to seize territory up to the Litani River and annex a third of Lebanon to the...
VIDEO: Israel Hit by Missiles, Vows to Continue Strikes Until US and Iran Reach Deal
Iranian missiles struck multiple sites in central Israel on March 23, injuring six people, while Israel’s prime minister Benjamin Netanyahu pledged to keep hitting Iran and Hezbollah in Lebanon until a U.S.-Iran agreement meets Israeli interests. President Donald Trump announced...
Cow Dung to Power Suzuki Biogas Push in India
Japanese automaker Suzuki Motor Corp. launched its second biogas plant in Gujarat, India, converting cow dung into methane for CNG vehicles. The facility can process up to 100 tonnes of dung per day, producing roughly 1.5 tonnes of biogas, which...
Japan Rice Prices Dip Below Key Threshold
Japan’s retail rice price slipped below the ¥4,000 ($25.21) threshold for the first time in seven months, reaching ¥3,980 per 5 kg ($25.07) in the week to March 15. The decline marks the fifth consecutive weekly drop and follows an oversupply from...
Canada’s Woodfibre LNG Project Reaches 65% Completion
Woodfibre LNG announced that its British Columbia export terminal is now 65% complete following the delivery of its 16th powerhouse module. The all‑electric plant, designed to be the world’s first net‑zero LNG export facility, will draw renewable power from BC...
Sri Lanka Reveals It Rejected US Request to Land Warplanes, Iran Request on Warships
Sri Lanka’s president announced that the island nation turned down simultaneous military requests from the United States and Iran in February. Washington sought a four‑day window to station two warplanes with anti‑ship missiles at Mattala Rajapaksa Airport in early March,...
LONG READ: Coal Is Back.
Coal is re‑emerging as a key fallback fuel after the Iran‑triggered Operation Epic Fury disrupted global gas supplies. The International Energy Agency now projects 2026 coal demand at a record 8.85 bn tonnes, a 0.5% rise, while thermal‑coal prices have jumped...
.png)
Turkey’s Diesel Tax Buffer Evaporates Amid Booming Oil Prices and Refinery Margins
Turkey eliminated the special consumption tax (OTV) on diesel on 20 March, causing the tax buffer to disappear as oil prices and refinery margins surge. The government’s “echelle mobile” mechanism now deducts 75 % of required price hikes from OTV, leaving the...
IRGC Spokesman Brigadier General Ali Mohammad Naeini Killed in Overnight Strike
Iran's Islamic Revolutionary Guard Corps confirmed on March 20 that Brigadier General Ali Mohammad Naeini, its public spokesperson for the past two years, was killed in an overnight U.S.-Israeli strike. Naeini, a veteran of four decades and a specialist in...
Israeli Strike Kills Three in Rural Village in Iran's East Azerbaijan Province
An Israeli‑US airstrike hit the village of Dizaj Amir Madar in Iran’s East Azerbaijan province on March 20, killing three civilians and wounding three others. The strike struck a local workshop and damaged adjacent residential buildings, prompting an immediate emergency response....
Saudi Arabia Intercepts 27 Drones Launched Towards the Kingdom
Saudi Arabia's Ministry of Defence reported that its air defenses shot down 27 drones launched toward the kingdom on March 20. Twenty‑six of the unmanned aircraft were destroyed over the Eastern Province, home to Saudi Aramco’s primary production and export...
Turkey Emerges as Revived Route for Iraqi Oil Amid Hormuz Crisis
Iraq announced the rapid revival of the 600‑mile Kirkuk‑Ceyhan pipeline, aiming to resume crude shipments to Turkey and bypass the Hormuz bottleneck caused by the Iran‑US‑Israel conflict. The oil ministry expects the line to be operational within a week, targeting...
Philippines Down to Its Last Three Weeks of Fuel Reserves, Turns to Russia for Help
The Philippines faces a looming fuel shortage, with national reserves estimated at only three to four weeks of supply. The crisis stems from Iran’s restriction of the Strait of Hormuz, a key conduit for 20% of global oil, which has...
Satellites Show Extent of Iranian Precision Strikes
Satellite imagery revealed extensive damage to all four U.S. THAAD radar stations across the Middle East after precision Iranian missile strikes. The attacks also hit U.S. bases, KC‑135 tankers and a CIA facility, prompting the Trump administration to impose a...
Romania’s Industrial Activity Hits Lowest Level Since Lockdown in January
Romania’s industrial production contracted 4.0% year‑on‑year in January, the sharpest decline since the 2020 lockdown. Manufacturing output fell 6.4% YoY, while utilities rose 8.6% YoY, partially offsetting the drop. The seasonally adjusted PMI slipped to 45.8 in February, marking a...
_150326.jpg)
Turkey’s Inflation Fight Stands Exposed to a Trump Wrecking Ball
Turkey’s inflation remains above 30% as the Central Bank of the Republic of Turkey (CBRT) paused its tightening cycle on March 12, sparking criticism from analysts who argue a rate hike was warranted. The country’s $50 bn annual energy import bill and...
EXCLUSIVE: Cyprus Acts as a “Third Force” In EU Sanctions Extension Vote
Cyprus, currently holding the EU presidency, has moved from a neutral position to actively opposing the removal of sanctions on Russian billionaire Alisher Usmanov, citing historic disputes with Turkey. The shift follows a letter from Turkish President Recep Erdoğan to Slovak...
Russia’s Nuclear Exports a Flourishing Geopolitical Asset, After Four Years of Ukraine War
Four years after the Ukraine invasion, Russia’s state nuclear firm Rosatom has turned civil nuclear exports into a robust geopolitical tool. The company now leads global reactor sales, offering VVER‑1200 and VVER‑1000 plants financed up to 90% by Russian state...
K&H Focuses on Digitalisation, AI as Digital Banking Grows in Hungary
K&H Group is accelerating its digital transformation in Hungary, centering its strategy on AI‑driven services and a unified banking‑insurance mobile platform. The bank’s AI assistant Kate, with over 300 functions, supports 150,000 users and logged 1.7 million conversations in 2025. Digital...
China Largely Insulated From Global Energy Price Shocks
China’s economy is largely insulated from the recent global energy price spikes triggered by Middle East tensions. Although oil and gas import bills will rise, long‑term contracts, domestic coal dominance, and sizable strategic reserves limit cost pass‑through. The country’s low...
Iran-Linked Hackers Reportedly Targeted Albanian Parliament Email System
Albanian parliament email system was targeted by the Iran‑linked hacking group Homeland Justice. The attackers sought to access or leak emails of senior political figures, and some content later appeared on Telegram. Albania’s National Cyber Security Authority launched an investigation,...
_Cropped_1.png)
US Navy Says Straits of Hormuz Too Dangers to Traverse
The U.S. Navy has turned down daily requests from commercial shippers to escort vessels through the Strait of Hormuz, deeming the risk too severe amid the ongoing war with Iran. Since the start of Operation Epic Fury, 17 tankers have...
Uzbekistan’s Foreign Arrivals Jump Sixfold From 1.9mn in 2021 to 11.7mn in 2025
Uzbekistan’s inbound tourism surged to 11.68 million arrivals in 2025, a six‑fold rise from 2021 and a 47 % year‑on‑year increase. Visits to relatives dominated, accounting for 67.3 % of trips, while leisure, business and medical travel also grew. Outbound travel by Uzbek...
Hormuz Closure Would Cost Gulf States Average 3.8% of GDP, Marex Warns as Bahrain Most Exposed
Marex warns that a three‑month shutdown of the Strait of Hormuz would erode the average current‑account balance of Gulf states by 3.8% of GDP. Bahrain, lacking alternative export routes, would see its surplus flip to a 3.2% deficit, while Saudi...
UAE Homebuilders to Prioritise Cash Conservation After Geopolitical Shock, Fitch Warns
Fitch Ratings warned that UAE homebuilders will shift focus to cash conservation after the regional conflict, as property viewings have already declined. The agency noted that pre‑sale escrow accounts provide short‑term stability for projects already under construction, but future developments...
Gulf States Ask for Ukrainian Interceptor Drones as Patriot Stocks Dwindle
Ukrainian drone makers SkyFall and TAF Industries are fielding interceptor drones to Gulf states as U.S. Patriot missile stocks run low after intense use in the Middle East. The drones, costing a few thousand dollars each, offer a cheap alternative...
Iran Denies Striking Turkey, Azerbaijan and Cyprus, Says 'False Flag'
Iran’s foreign ministry spokesman Esmail Baghaei denied that Iranian forces struck Turkey, Azerbaijan and Cyprus, calling the reported attacks a staged false‑flag operation. The denial follows Azerbaijan’s claim that Iranian drones hit Nakhchivan airport and a Turkish missile intercept on March 4,...
War Jitters Drain Liquidity From Iran’s Markets as Rial Pricing Fractures
Iran’s financial markets entered a pronounced lull after US and Israeli strikes heightened geopolitical risk, leaving many trading venues partially shut and liquidity thin. Online dollar pricing via USDT surged to IRR 1,550,000 per dollar, yet physical dollar dealers accept roughly...
ASH: Iran War - Who Needs Nukes when You Have Drones?
Iran’s low‑cost, $20,000 drones are emerging as a more disruptive strategic weapon than its nuclear program, targeting the Gulf’s diversified economic assets. The drone campaign threatens energy, logistics, tourism, real‑estate and financial sectors, raising the risk of capital flight and...
Annual Inflation in Uzbekistan Ticks up 0.1pp to 7.3% in February
Uzbekistan’s annual inflation ticked up to 7.3% in February, a modest 0.1 percentage‑point rise from January and still 2.8 points below the 10.1% recorded a year earlier. Monthly inflation eased to 0.6% month‑on‑month, while core inflation rose to 0.5% month‑on‑month, pushing...
Middle East War Could Trigger Currency Shock Across Africa - Fitch
Fitch Solutions warns that a broader US‑Iran conflict could trigger a sharp currency shock across sub‑Saharan Africa. In a prolonged escalation, Brent crude is projected to trade between $110 and $130 per barrel, raising energy costs and disrupting shipping routes....
_5.jpg)
Saudi Arabia Condemns 'Cowardly' Iranian Drone Attack on US Embassy in Riyadh
Saudi Arabia’s foreign ministry condemned Iran’s drone strike on the U.S. embassy in Riyadh as “cowardly” and a breach of international law, warning that such attacks could heighten regional escalation. The drones caused a fire and minor damage but no...
Kazakh Manufacturing Hit by Marked Fall and Elevated Inflationary Pressures in February, PMI Shows
Kazakhstan's manufacturing PMI fell to 48.1 in February, down from 49.8 in January, indicating sector contraction. The decline reflects weaker domestic demand, higher tax pressure from a January VAT increase, and firms cutting staff, purchases, and inventories. Despite the downturn,...
.jpg)
Iran Says Intelligence Services Know Location of Netanyahu
Iranian Major General Yahya Rahim Safavi announced that Iran’s intelligence services have "complete oversight" of U.S. and Israeli targets and can pinpoint the locations of Israeli Prime Minister Benjamin Netanyahu’s meetings on March 3. He accused the United States of serving Israel’s interests,...
_3.jpg)
IAEA Confirms Damage to Iran's Natanz Nuclear Site Entrance, No Radiation Leak Detected
The International Atomic Energy Agency verified that recent strikes damaged the entrance buildings of Iran’s Natanz Fuel Enrichment Plant, based on satellite imagery, but found no radiological release. The underground enrichment hall remains intact, limiting immediate safety concerns. Natanz, already...