In kitchens across India, hot food and drinks – even tea – are disappearing from the menu in place of fast food and lemon water as the Middle East conflict creates a nationwide shortage of cooking g...
Economy
The closure of the Strait of Hormuz could have serious consequences for the global economy, including inflation and the risk of a worldwide recession, former World Bank Vice President Ismail Serageldi...
Three vessels have been hit by unknown projectiles in the Strait of Hormuz, maritime security agencies and sources said on Wednesday, as one of the strikes led to a fire onboard a ship and forced mo...
A historic disruption to the world’s oil production sent crude prices smashing through the $100 barrier Monday for the first time in nearly four years, CNN writes. The publication notes that as the wa...
Oil prices have surpassed $100 per barrel, Bloomberg reports. According to the report, the price of Brent crude has risen by 29%, reaching $119.50 per barrel. It is noted that oil prices have increase...
The Kremlin said on Friday that the war in Iran had fuelled demand for Russian energy products, Reuters writes. The conflict, which entered its seventh day on Friday, has left the Strait of Hormuz,...
Soon after the first Iranian missile and drone attacks on Dubai last week, two Indian entrepreneurs based there tried to move more than $100,000 each from their local bank accounts to Singapore to h...
The UAE’s years-long property boom faces its first real test after Iranian missile strikes shattered the Gulf’s safe-haven aura, Reuters writes. The attacks on airports, ports and residential areas in...
US President Donald Trump said on Thursday he was not concerned about rising US gas prices driven by the widening Iran conflict, telling Reuters in an interview that the US military operation was his...
Venezuela’s state-owned mining company has signed a multi-million-dollar deal to sell as much as 1,000 kg of gold dore bars to commodities trader Trafigura for US markets, Reuters writes, referri...
The US and Israel’s military actions against Iran, which began on Feb. 28, are starting to have effects not only militarily but also economically. Preliminary estimates from experts show that in the f...
During negotiations with Iran, the United States proposed providing Tehran with free nuclear fuel and investing in joint nuclear energy development projects, White House Press Secretary Karoline Leavi...
