Seoul, March 24 (IANS) South Korean President Lee Jae Myung spoke Tuesday with New Zealand Prime Minister Christopher Luxon by phone and they shared their thoughts on the current situation unfolding in the Middle East, Cheong Wa Dae said. The two leaders discussed the repercussions that the ongoing US-Israeli war against Iran is having on the global economy and energy supplies, and shared with each other the set of policy measures they have put in place to stabilize livelihoods in their countrie…
Latest Global Economy News & Updates
Washington, March 24 (IANS) India’s External Affairs Minister S. Jaishankar and U.S. Secretary of State Marco Rubio spoke over the phone on Monday about the West Asia crisis. They reviewed its impact on the global economy and energy supplies. Both agreed to continue working together. “Had a detailed telecon this evening with US @SecRubio,” Jaishankar said in a post on X. This was the first call between the two leaders after the war in Iran.He said the talks “focused on the West Asi…
Bengaluru, March 23 (IANS) Industry leaders and global experts on Monday expressed concern over the ongoing geopolitical tensions, saying they hope the conflict does not escalate further and is resolved soon, as its impact is already being felt on the economy and common people.Speaking at the Indiaspora AI Summit here, Kris Gopalakrishnan, former CEO of Infosys, said the ongoing tensions are not just affecting the technology sector but are having a wider impact on everyday life.“Shortages of L…
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…
New Delhi, March 23 (IANS) Congress MP Manish Tewari on Monday raised concerns over supply disruptions caused by the ongoing conflict in West Asia and stressed the need to give diplomacy a chance. He said the war has entered a very critical and dangerous phase, urging all sides to de-escalate tensions. Speaking to the media, Tewari highlighted the challenges facing energy-consuming nations, pointing to the wider implications of disruptions in the supply chain of crude oil, natural gas, fertilise…
New Delhi, March 23 (IANS) Over 40 energy assets across nine countries in West Asia have been “severely or very severely” damaged due to the Iran war and no country would be immune to the fallout of the disruption in oil and gas supplies, International Energy Agency (IEA) Executive Director Fatih Birol said in Canberra on Monday.“The effect of the current disruptions in West Asia is equivalent to the two major oil crises in the 1970s and the 2022 natural gas crisis after Russia invaded Ukr…
New Delhi, March 23 (IANS) The International Energy Agency (IEA) chief Fatih Birol has warned that the global economy is facing a major threat due to the energy turmoil due to the escalating Middle East tensions.The IEA chief said the current situation in West Asia poses serious risks to economies worldwide.The global economy is facing a major, major threat today, and I very much hope that this issue will be resolved as soon as possible, Birol said while speaking at a media event in Australia. T…
New Delhi, March 20 (IANS) The ongoing war in West Asia is not just a conflict of armies; it is a failure of imagination, restraint, and timely diplomacy. It reflects a world that understood the risks but chose delay over decision, and rhetoric over resolution. What we are witnessing today is not an unexpected crisis, but the outcome of ignoring peace when it was still possible.For decades, the region lived under an illusion of stability. The framework created after the Oslo Accords was never fu…
Canberra, March 18 (IANS) Australian Prime Minister Anthony Albanese on Wednesday flagged new measures to protect the country’s people from the ‘worst’ of the global economic uncertainty driven by the ongoing conflict in the Middle East.In a speech to an automotive industry event on Wednesday morning, Albanese described the conflict in the Middle East as another “major shock to hit the global economy” in the 2020s following the COVID-19 pandemic and the Russia-Ukraine conflict.”We want to make s…
New Delhi, March 13 (IANS) India’s GDP is expected to grow 7.5 per cent in the fiscal year ending March 2026 higher than 7.4 per cent forecasted earlier, due to resilient domestic demand even as activity showed tentative slowing in January and February, a report said on Friday.Credit rating agency Fitch Ratings said domestic demand will drive the growth, with consumer spending and investment expected to expand by 8.6 per cent and 6.9 per cent, respectively, in FY26.High frequency indicators in…