Paris, April 18 (IANS) French President Emmanuel Macron said that Iran’s announcement of reopening the Strait of Hormuz goes in the right direction. Macron made the remarks in a joint declaration following a conference co-hosted by France and Britain in Paris on Friday (local time), which brought together 49 countries to discuss securing freedom of navigation in the Strait of Hormuz.British Prime Minister Keir Starmer, German Chancellor Friedrich Merz and Italian Prime Minister Giorgia Meloni at…
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New Delhi, April 16 (IANS) International Energy Agency chief Fatih Birol on Thursday warned that air travel in Europe would be hit due to a shortage of jet fuel if the Strait of Hormuz remains closed, as stocks were already running low. Europe may have “only maybe 6 weeks or so of jet fuel left”, and there could soon be flight cancellations if supplies remained blocked, Birol told the Associated Press.Stocks would reach a tipping point in June if Europe was unable to replace at least half of its…
Washington, April 16 (IANS) The United States expects the ongoing conflict involving Iran to ease within weeks, with the Energy Secretary expressing confidence that the economic impact, particularly on oil markets, will remain contained.Speaking at a Wall Street Journal policy discussion, US Energy Secretary Chris Wright said the situation would not trigger prolonged economic strain despite a temporary spike in fuel prices.“I think the conflict will be resolved in the next few weeks,” Wright…
Washington, April 15 (IANS) The Intergovernmental Group of Twenty-Four (G-24) warned of a sharp deterioration in global economic conditions, citing conflicts, supply disruptions and financial pressures that could weigh heavily on emerging economies.In a communique issued after its ministerial meeting in Washington, the G-24 said global growth is projected to decline in 2026 compared to 2025, as the fallout from the war in the Middle East and other crises ripples across energy markets and supply …
New Delhi, April 11 (IANS) China’s push to become a global supplier of renewable energy technology is drawing sharp criticism from Africa, South Asia and Latin America, alleging Chinese solar panels, wind turbines and batteries to be low‑quality and poorly suited to local conditions, a new report has said.The report from Nepal Aaja also argued that these projects are also tied to financing that creates long‑term dependencies.”China’s financing model typically ties loans to technology imp…
New Delhi, April 6 (IANS) Financial protection gap for critical illnesses is widening even as employers and insurers ramp up preventive care and cost sharing mechanisms to shield workers and families from rising treatment costs, a report said on Monday on eve of World Health Day.The professional services firm Aon said that employers in India are increasingly investing in preventive care, outpatient benefits, and digital health and wellness solutions, reflecting a broader shift toward proactive h…
New Delhi, March 31 (IANS) The International Monetary Fund (IMF) has said the ongoing US-Israel and Iran war could shape the global economy in different ways — all roads leading to higher prices and slower growth.The IMF said the war in the Middle East is upending lives and livelihoods in the region and beyond. “It is also dimming the outlook for many economies that had only just shown signs of a sustained recovery from previous crises. The shock is global, yet asymmetric. Energy importers a…
Washington, March 21 (IANS) The US military sank an alleged drug-trafficking boat in the eastern Pacific, and three people aboard survived the strike, the US Southern Command said. “Intelligence confirmed the low-profile vessel was transiting along known narco-trafficking routes in the Eastern Pacific and was engaged in narco-trafficking operations,” the command said in a press release on Friday (local time), accusing the boat of being “operated by Designated Terrorist Organisations.””Following …
New Delhi, March 17 (IANS) India’s electronics hardware exports recorded a substantial growth in 2024-25, increasing by 32.47 per cent year-on-year (YoY) to reach $38.58 billion, according to the report released on Wednesday.The report from the Electronics and Computer Software Export Promotion Council (ESC) said that the exports stood at $29.12 billion in 2023-24, reflecting a sharp increase driven largely by telecom equipment, particularly smartphones.Smartphone exports alone rose to an esti…
Seoul, March 18 (IANS) South Korea’s auto exports fell 20.8 per cent from a year earlier in February due to a decline in the number of working days for the month, government data showed on Wednesday.The combined value of automobile exports came to US$4.8 billion last month, according to the data from the Ministry of Trade, Industry and Resources, reports Yonhap news agency.February’s performance was due to a drop in the number of working days for the month amid the Lunar New Year holiday, the mi…