New Delhi, April 4 (IANS) Amid rising global supply concerns due to disruptions in the Strait of Hormuz, India has emerged as one of the countries maintaining steady maritime movement through the crucial route. Despite tensions triggered by the ongoing conflict involving the United States, Israel, and Iran, several Indian vessels have successfully navigated the narrow passage, which is vital for global oil and gas trade.Since February 28, at least eight Indian-linked ships have crossed the Strai…
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Kathmandu, April 1 (IANS) Nepal has witnessed the impact of the ongoing West Asia crisis as the number of foreign tourist arrivals from Europe, the Americas, West Asia, and Africa has dropped sharply in March, the Nepal Tourism Board (NTB) said on Wednesday. The conflict has been ongoing since February 28, when the US and Israel launched a military attack on Iran. Its fallout is being felt across the world, with travel restrictions and rising prices affecting the entire global economy.Usually, N…
New Delhi, March 31 (IANS) The International Monetary Fund (IMF) has said the ongoing US-Israel and Iran war could shape the global economy in different ways — all roads leading to higher prices and slower growth.The IMF said the war in the Middle East is upending lives and livelihoods in the region and beyond. “It is also dimming the outlook for many economies that had only just shown signs of a sustained recovery from previous crises. The shock is global, yet asymmetric. Energy importers a…
Seoul, March 31 (IANS) The government will operate a crude oil swap system with private companies, starting Tuesday, in a bid to help oil refineries secure alternative oil supplies and minimise supply disruptions, the industry ministry said.Under the system, set to run over the next two months, the government will lend some of its oil reserves, mostly Middle Eastern crude, to oil refineries and later restore the stock with alternative supplies secured by the companies, reports Yonhap news agency…
New Delhi, March 30 (IANS) Union Commerce and Industry Minister Piyush Goyal on Monday said that India’s stance at the recently concluded WTO Ministerial Conference (MC14) in Cameroon was “not only heard but also reflected” in the final outcomes, underlining the country’s growing influence in shaping global trade discussions.Wrapping up his four-day visit to Cameroon — where he participated in the WTO Ministerial Conference — Goyal noted that the global trade landscape has undergone signif…
New Delhi, March 29 (IANS) Commerce and Industry Minister Piyush Goyal on Sunday discussed the issue of strengthening India’s trade and investment relations with Africa at a meeting with the ministers and ambassadors of African countries on the sidelines of the WTO ministerial conference in Cameroon. “Had a meaningful engagement with ministers and ambassadors of the Africa Group members on the sidelines of the 14th ministerial conference of the World Trade Organisation (WTO MC14). Held substanti…
Colombo, March 29 (IANS) China will materially and geopolitically lose heavily from the attack which the US and Israel have launched on Iran, as amid the ongoing conflict, its Belt and Road Initiative (BRI) projects related to Iranian ports, rail corridors and energy infrastructure face increased instability and security risk, as per a report. “Located at the crossroads of global commerce, the countries in the Middle East are a logistical bridge and an emerging ground for strategic investments. …
Islamabad, March 29 (IANS) Amid the economy suffering with many loose ends on energy, logistics, digital infrastructure, education, poverty, and employment, the Pakistani government wants to establish itself as a major exporter of fighter jets, according to a report. “To be clear, an economy struggling to meet its ends-meet needs to focus on producing necessary goods for mass consumption, in order to ensure the welfare of its citizens; otherwise, the scarcity can lead to a spiral of rising infla…
Washington, March 27 (IANS) Confronting China’s growing economic and diplomatic influence, US nominees told senators that Southeast Asia and Africa will be central to Washington’s strategy in shaping the next phase of global competition. At a Senate Foreign Affairs Committee confirmation hearing on Thursday, nominees for top diplomatic positions outlined priorities spanning the Association of Southeast Asian Nations, the African Development Bank, and global education and cultural outre…
Kuala Lumpur, March 24 (IANS) Malaysia is studying alternative transit routes and strengthening its focus on the Asian market to sustain tourist arrivals amid disruptions linked to tensions in West Asia, the country’s state-owned agency reported. The country’s state-owned agency Bernama on Monday cited Deputy Secretary General (tourism) of the Ministry of Tourism, Arts and Culture, Chua Choon Hwa, that the conflict has affected key Middle East transit hubs traditionally used by long-haul travell…