Washington, June 11 (IANS) The conflict in the Middle East is emerging as a major economic threat to South Asia through rising oil, gas and fertiliser prices, with the World Bank warning that the region is among the most exposed to the fallout from the crisis despite remaining the world’s fastest-growing economic region.The World Bank’s latest ‘Global Economic Prospects’ report projects South Asia’s growth to slow from 7 per cent in 2025 to 6.3 per cent in 2026 as higher energy costs, inflationa…
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Mumbai, May 16 (IANS) Domestic equity markets witnessed another week of sharp correction, with benchmark indices declining over 2 per cent each amid rising crude oil prices and ongoing geopolitical tensions in West Asia.Nifty declined by 2.2 per cent or 532 points during the week to close at 23,643.5 against the previous Friday’s closing, while Sensex dropped 2.7 per cent or over 2,000 points to end at 75,238.Meanwhile, broader markets remained under heavier pressure, with the mid-cap index fall…
New Delhi, May 12 (IANS) The moderate jump in inflation in April reflects relatively stable price conditions across several core consumption categories, particularly transport, industry leaders said on Tuesday.However, food price pressures remain elevated in select commodities, indicating the continued importance of supply-side monitoring, said PHDCCI.“Among major commodity groups, transport inflation remained subdued at near-zero levels as Government has not increased retail pump prices despi…
Mumbai, May 9 (IANS) The Indian equity benchmarks posted notable gains during the week over easing crude prices, a firmer rupee and softer 10-year bond yields despite lingering geopolitical tensions.Nifty gained 0.76 per cent during the week and dipped 0.60 per cent on the last trading day to reach 24,180. At close, Sensex was down 516 points or 0.66 per cent at 77,328. It advanced 0.54 per cent during the week.”The improvement in macro conditions shifted sentiment from early-week caution to a m…
New Delhi, April 23 (IANS) Petroleum Ministry on Thursday dismissed media reports regarding petrol and diesel price increase after the assembly elections in West Bengal and Tamil Nadu, calling such reports as “mischievous and misleading”.In a social media post on X, the ministry clarified that “there is no such proposal under government consideration.””Such news items are designed to create fear and panic amongst the citizens and are mischievous and misleading,” the ministry added.It further…
New Delhi, April 21 (IANS) Even after escalation in West Asia conflict and rise in Brent crude oil prices due to the closure of Strait of Hormuz, the fuel prices remain unchanged in India, while many countries have witnessed a jump of up to 85 per cent.Data by Kotak highlighted a sharp divergence between India and both advanced and emerging countries, where consumers have faced increases in fuel prices so far this year, reports NDTV Profit.On the diesel front, prices have witnessed a sharp rise …
New Delhi, April 14 (IANS) With the US military starting its blockade of Iran’s ports, around two million barrels of Iranian oil per day is expected to be shut out from the world’s markets, tightening global supply and leading to a further rise in prices of petroleum products, according to reports.A complete blockade of the Strait of Hormuz may also impact LPG supplies for India, as over the past month the country managed to have at least eight LPG tankers safely crossed through the strait,” w…
New Delhi, April 13 (IANS) Bangladesh is facing a major economic shock due to the disruption in oil and gas supplies through the Strait of Hormuz in the wake of the Iran war, as the country is heavily dependent on imports for its energy needs, according to an article in the local media. Years of relying on imported energy, along with slow progress toward renewable alternatives, have tied the economy to volatile global currents. When those currents turn turbulent, the exposure is immediate and un…
New York, March 31 (IANS) As the Israel-United States campaign against Iran veered off course from its claimed aims and began hitting global economies, President Donald Trump told his allies on Tuesday, “The hard part is done. Go get your own oil,” hinting he may be ready to wind down the war without a definitive opening of the Hormuz Strait. Trump’s hint came after a Wall Street Journal report on Monday that he told aides he would be willing to drop demands on opening the Strait, leavi…
Mumbai, March 23 (IANS) The second advance estimates of GDP for 2025–26 indicate sustained resilience of the Indian economy even as the conflict in the Middle East and fresh trade investigations by the US have resulted in increased volatility in the global markets, according to the RBI’s monthly bulletin released on Monday.High frequency indicators signal towards India’s economic activity gaining momentum in February. CPI headline inflation picked up in February on account of food and beve…