New York, May 5 (IANS) International Monetary Fund (IMF) Managing Director Kristalina Georgieva warned that the global economy would face a “much worse outcome” if the Middle East war drags on into 2027, with oil prices hitting around 125 dollars per barrel. “We are going to see inflation climbing up, and then inevitably, inflation expectations would start de-anchoring,” she said at a conference hosted by the Milken Institute in Washington, D.C., on Monday (local time).She noted that current con…
Latest Donald Trump News & Updates
SEOUL, May 5 (IANS) A fire that broke out after an explosion aboard a Panama-flagged bulk carrier operated by South Korea’s HMM Co. in the Strait of Hormuz has been extinguished, and no injuries were reported, the company said Tuesday. The explosion occurred at about 8:40 p.m. Monday (Korean time), while the HMM Namu was anchored in waters off the United Arab Emirates, HMM said. The fire began in the engine room, and crew members used carbon dioxide to fight the blaze for about four hours.HMM sa…
Washington, May 5 (IANS) US President Donald Trump said tariffs would remain a central tool of US trade policy, signalling tougher measures against China and other countries he accused of undercutting American businesses.Speaking at the White House, Trump said domestic firms had been hurt by cheaper imports. “You’re getting hurt by China and other countries making a product that’s not as good, but it’s less money,” he said ahread of his trip to China later this month.He argued that tar…
Washington, May 5 (IANS) US President Donald Trump said small businesses are the “lifeblood of the American economy”, highlighting tax cuts, deregulation and tariffs as key drivers of growth during remarks at the White House.Speaking at an event marking National Small Business Week, Trump said the sector plays a central role in economic activity. “The people in this room represent the 36 million small businesses who create 40 per cent of all economic activity in the United States,” he sa…
Washington, May 5 (IANS) President Donald Trump said US military action against Iran was “going very well” and asserted that Tehran’s capabilities had been largely destroyed, warning that it must not be allowed to acquire nuclear weapons.Speaking at the White House during an event marking National Small Business Week, Trump said the operation was necessary to prevent a greater threat. “We can’t let Iran have a nuclear weapon,” he said.Trump said Iran’s military infrastructure had b…
Washington, May 5 (IANS) US President Donald Trump has said that Iran had fired on vessels linked to “unrelated nations” amid tensions around a United States-led maritime effort, raising fresh concerns over security in a key global shipping route.”Iran has taken some shots at unrelated Nations with respect to the Ship Movement, PROJECT FREEDOM, including a South Korean Cargo Ship,” Trump said on Monday in a social media post.He urged greater allied participation in the mission. “Perhaps it’s tim…
Abu Dhabi, May 4 (IANS) The United Arab Emirates (UAE) on Monday condemned an Iranian “terrorist attack ” on commercial vessels linked to the Abu Dhabi National Oil Company (ADNOC) as it was transiting the Strait of Hormuz.In a statement, the UAE Ministry of Foreign Affairs (MoFA) described the incident as a “flagrant violation” of UN Security Council resolution 2817, which affirmed the importance of freedom of navigation and rejected the targetting of commercial vessels or the obstruction o…
Islamabad, May 4 (IANS) Pakistan may continue to position itself as a bridge between Washington and Tehran, but such a role cannot be manufactured through publicity or driven by a desperate search for global relevance. The repeated collapse of the Islamabad talks is therefore not just a missed “diplomatic opportunity” but a serious credibility setback, a report said on Monday.According to a report in ‘Stringer Asia’, the second collapse of the much-hyped “Islamabad talks” exposes a deepe…
Tehran, May 4 (IANS) The Navy of Iran’s Islamic Revolution Guard Corps (IRGC) on Monday claimed that it hit a US Navy frigate with two missiles that sought to pass through the Strait of Hormuz, the semi-official Fars news agency reported.The US frigate, which had set sail near Iran’s southern port city of Jask to cross the Strait of Hormuz “in violation of the traffic and shipping security,” was hit after ignoring the Iranian naval forces’ warning, Fars cited local sources as saying.It added tha…
Mumbai, May 4 (IANS) Indian equity benchmarks ended higher on Monday but pared early gains to close off the day’s highs, as weakness in IT and banking stocks weighed on sentiment amid volatility linked to ongoing election results.The Sensex rose 356 points, or 0.46 per cent, to settle at 77,269.40, while the Nifty gained 121.75 points, or 0.51 per cent, to close at 24,119.30.Commenting on Nifty technical outlook, experts said that from a derivatives perspective, the structure remains clearly d…