New Delhi, May 6 (IANS) Geopolitical tensions, supply chain disruptions and rapid technological changes are reshaping how economies participate in global value chains, the Asian Development Bank (ADB) said on Wednesday.Greater specialisation in the stages of global production has helped Asia and the Pacific achieve economic growth, create jobs, and reduce poverty over the past quarter century, according to the ADB’s ‘Asian Development Policy Report 2026’.The report found that the region ac…
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Washington, May 6 (IANS) The United States has launched a major naval operation in the Strait of Hormuz to escort stranded commercial vessels and restore shipping through one of the world’s most critical oil routes, with Secretary of State Marco Rubio accusing Iran of illegally “holding the global economy hostage”.Speaking at the White House on Monday, Rubio said President Donald Trump had authorised “Project Freedom” to guide trapped civilian ships to safety after weeks of escalating …
New Delhi, May 5 (IANS) While the closure of the Strait of Hormuz amid the US-Israel war on Iran has disrupted supply chains of fuel-importing countries, it has also opened up new opportunities for countries like Nigeria to step up exports of petroleum product from its coastal refinery that has been built with Indian and Chinese assistance, according to a new report.The Lagos-based refinery, owned by Aliko Dangote, Africa’s richest man, is operating at full capacity of 650,000 barrels per day …
Washington, May 2 (IANS) The Arabian Sea, the Strait of Hormuz, and the Red Sea form a connected maritime network that sustains critical global flows, where disruption in one part can trigger cascading effects across the entire system. The closure of the Strait of Hormuz disrupts global energy markets, instability in the Red Sea complicates the re-routing of shipping routes and intensifies pressure on alternative corridors, while maritime infiltration exposes vulnerabilities in coastal urban hub…
Tokyo, May 1 (IANS) Japanese Prime Minister Sanae Takaichi on Friday arrived in Hanoi as she commenced her five-day visit to Vietnam and Australia. Ahead of her departure from Tokyo, the Prime Minister’s Office stated that Takaichi will hold meetings with the General Secretary of the Communist Party, President To Lam and Prime Minister Le Minh Hung, and other Vietnamese leaders in Hanoi.The focus of the meetings, said Japanese Foreign Ministry, would be on strengthening the Japan-Vietnam Compreh…
Singapore, May 1 (IANS) Singaporean Prime Minister Lawrence Wong warned on Friday that supply disruptions stemming from the Middle East crisis are likely to persist and could worsen in the months ahead, raising the risk that some economies slip into recession.”Globally, inflation will rise, spreading from energy to food and then other essentials. Some economies may well slip into recession, and Singapore will feel the impact directly,” Wong said in a May Day Rally speech.Even if the Strait of Ho…
New Delhi, May 1 (IANS) Crude oil prices rose on Friday as efforts to resolve the Iran crisis reached a stalemate, with Tehran continuing to block the Strait of Hormuz and Washington restricting Iranian crude exports.Brent futures for July on Intercontinental Exchange gained $0.81, or 0.73 per cent, to $111.21 a barrel, while West Texas Intermediate rose 31 cents, or 0.30 per cent, to $105.37. Both benchmarks have posted gains for four consecutive months, analysts noted.Brent crude oil had cross…
New Delhi, April 30 (IANS) A 56-member Indian boxing contingent is all set to begin its campaign at the Asian Boxing U15 & U17 Championships 2026, which gets underway on Friday in Tashkent, Uzbekistan.India heads into the prestigious age-group tournament with a strong and well-rounded squad across both boys’ and girls’ categories, reflecting the country’s continued focus on grassroots development and nurturing future champions.The U-17 teams will see 13 boxers each in the boys’ and g…
Washington, Aprril 30 (IANS) Surging oil prices driven by the Middle East conflict are clouding the US Federal Reserve’s economic outlook, with policymakers warning of rising inflation and uneven global impact, particularly on energy-dependent regions such as Asia. Federal Reserve Chair Jerome Powell said higher energy costs are already feeding into inflation, complicating the central bank’s policy path. “Inflation has moved up and is elevated, in part reflecting the recent increase in glo…
Mumbai, April 29 (IANS) Domestic equity markets traded higher on Wednesday despite a rise in crude oil prices and reports that the United States may extend its blockade of Iranian ports.Sensex traded 0.52 per cent, or 400 points, higher at 77,289.55, hitting an intraday high in early trade, while Nifty rose 0.53 per cent, or 127.8 points, to 24,123.55.Sector-wise, buying interest was seen in auto, chemicals, realty, energy and IT stocks.Nifty Auto, Nifty Chemicals, Nifty Realty, Nifty Oil & …