United Nations, April 30 (IANS) Warning of a steep fall in economic growth and a rise in poverty around the world due to the Iran war, UN Secretary-General Antonio Guterres reiterated his demand for the immediate restoration of free navigation in the Strait of Hormuz.”As with every conflict, the whole of humanity is paying the price – even if a few are reaping huge profits,” he told reporters. “The pain will be felt for a long time to come.”The war’s “consequences are not cumulative. They ar…
Latest Global recession News & Updates
New Delhi, March 4 (IANS) Safe‑haven currencies, from the dollar to the yen and gold, are expected to rally and equity sentiment could worsen due to supply chain disruption amid escalation of the US-Iran war, a report said on Wednesday.The report from DBS Bank said spreads of sovereign and corporate bonds could widen as investors while the monetary policy will stay put in the near term. Taimur Baig, Chief Economist, DBS Bank, warned that despite the Iranian Navy’s warships posing minimal thr…