Wellington, June 15 (IANS) New Zealand on Monday welcomed progress toward a US-Iran agreement aimed at ending the Middle East conflict.”This pivotal, constructive deal is a step toward reducing tensions and promoting stability in a region that is critical to global economic security,” Foreign Minister Winston Peters said in a statement.Peters noted that disruptions to the Strait of Hormuz, a key oil and shipping route, have had serious impacts on New Zealand’s economy and that of its Pacific par…
Latest Middle East conflict News & Updates
Washington, June 11 (IANS) The World Bank Group said on Thursday it is prepared to deploy up to $100 billion over the next 15 months to help developing countries cope with the economic fallout from the conflict in the Middle East, as rising energy prices and slowing growth place fresh pressure on vulnerable economies.The multilateral lender said it is immediately making available between $50 billion and $60 billion through existing instruments, including $25 billion in pre-arranged financing, to…
New Delhi, June 8 (IANS) Pakistan’s Federal Board of Revenue (FBR) has announced a massive revenue shortfall of close to Rs 684 billion during the first 10 months of the current financial year, raising concerns over the country’s fragile economy, according to a report in Maldives Insight.“As Pakistan struggles with inflation, debt obligations and repeated International Monetary Fund scrutiny, the revenue crisis has become far more than a bureaucratic failure. It now sits at the centre of t…
New Delhi, 1 June (IANS) The Government of India has received ₹2,12,679 crore, which represents 5.8 per cent of the total receipts for the corresponding BE 2026–27, for April this year. This comprises ₹1,78,492 crore of tax revenue (Net to Centre), ₹24,293 crore of non-tax revenue, and ₹9,894 crore of non-debt capital receipts on account of loan recoveries, according to a finance ministry statement issued on Monday. The monthly review of the Centre’s accounts also shows that ₹87,77…
New Delhi, June 1 (IANS) While the market price of LPG has shot up to Rs 1,200 per cylinder in the global market, the Ujjwala households are still being supplied the gas at Rs 613 per 14.2 kg cylinder, as the government is footing a subsidy of Rs 587 per cylinder, a senior petroleum ministry official said. In effect, the Ujjwala households are paying only half the market price for the gas while the government is bearing the cost of the rest by providing a subsidy to protect them from the price r…
New Delhi, June 1 (IANS) India has succeeded in restricting its fiscal deficit to the 4.4 per cent of GDP target fixed for the financial year 2025-26, reflecting the robust state of government finances at the end of the year, official data released on Monday showed. The fiscal deficit, which shows the difference between government revenue and expenditure, stood at Rs 15.19 lakh crore in FY26.Data released by the Controller General of Accounts (CGA) showed revenue collections remained strong duri…
Seoul, June 1 (IANS) South Korea’s aviation sector output fell at the sharpest pace in 52 months in April, mainly due to a spike in fuel surcharges stemming from the prolonged Middle East conflict, government data showed on Monday.The production index for the aviation sector stood at 468.5 in April, down 13.5 percent from a month earlier, according to data released by the Ministry of Data and Statistics.It marked the largest on-month decline since December 2021, when the index dropped 14.2 perce…
Beijing, May 31 (IANS) China’s manufacturing activity slowed further in May as new export orders contracted and input costs kept rising, according to a survey by the country’s National Bureau of Statistics (NBS) released on Sunday. The official manufacturing purchasing managers’ index (PMI) dropped to a three-month low of 50 from 50.3 in April, with the 50-point mark separating growth from contraction, the data showed.While the supply rose during the period, the demand weakened further, with the…
New Delhi, May 27 (IANS) Air India has reduced the number of flights on some domestic routes between June and August as the loss-making airline struggles to cut costs amid soaring fuel prices triggered by the Middle East conflict, a statement said on Wednesday.The Tata Group-owned airline said in the statement that the move follows its earlier decision to scale back certain international services.”In continuation of our previously announced adjustments to select international services between Ju…
New Delhi, May 22 (IANS) The Government has initiated special measures to ease container movement at Mumbai’s Jawahar Lal Nehru Port Authority which include rail evacuation, waiver of handling charges, green channels and trailer pooling to ease bottlenecks caused by disruptions due to the Middle East conflict.A high-level meeting chaired by Minister of Ports and Shipping Sarbananda Sonowal and Commerce Minister Piyush Goyal on Friday focused on better container movement as the Gulf-bound conta…