Seoul, April 9 (IANS) South Korean President Lee Jae Myung said Thursday it is time for the nation to fundamentally change its economic system, as rising oil prices and inflationary pressures from the war in the Middle East have dampened prospects of an economic recovery.However, Lee urged officials to embrace such grave economic conditions as an opportunity to improve the nation’s economic system as he presided over his first plenary meeting of the National Economic Advisory Council (NEAC) to d…
Latest Middle East conflict News & Updates
New Delhi, April 8 (IANS) Civil Aviation Minister Ram Mohan Naidu on Wednesday announced a 25 per cent cut in landing and parking charges for domestic airlines at the country’s airports so that airfares for passengers remain at affordable levels amid the rise in jet fuel prices in the wake of the Middle East conflict. The minister said that the measure is expected to reduce landing and parking charges payable by airlines at major airports during the three-month period by approximately Rs 400 c…
Antananarivo, April 8 (IANS) The Malagasy government declared a state of energy emergency across the entire territory for a period of 15 days to address a major energy supply crisis currently affecting the country.According to a presidential communique, this situation is attributable in particular to the repercussions of the conflict in the Middle East, which have disrupted energy supplies and public services in Madagascar.The government said that this state of emergency would allow for the impl…
Seoul, April 8 (IANS) South Korea recorded its largest-ever monthly current account surplus in February, driven by a semiconductor upcycle and strong exports, central bank data showed on Wednesday.The current account surplus totalled $23.19 billion in February, up sharply from $13.26 billion in January, according to the data from the Bank of Korea (BOK), reports Yonhap news agency.It marked the highest monthly surplus ever, surpassing the previous record of $18.7 billion set in December 2025.Sou…
Phnom Penh, April 4 (IANS) Diesel price in Cambodia has more than doubled since the outbreak of the Middle East conflict, the Ministry of Commerce said.In an announcement on Friday night, the ministry said a liter of diesel is now priced at 8,100 riels ($2.03), up 110 per cent from 3,850 riels ($0.96) at the end of February.Meanwhile, regular gasoline now costs 5,500 riels ($1.37) per liter, representing an increase of 42.8 per cent from 3,850 riels ($0.96) at February’s end, according to the an…
Seoul, April 3 (IANS) South Korean President Lee Jae Myung said Friday he and French President Emmanuel Macron agreed to work together to secure the safe passage through the Strait of Hormuz and mitigate the broad impact from the war in the Middle East. Lee addressed concerns over uncertainties in global energy supply chains following summit talks with Macron, during which the two leaders discussed ways to deepen economic ties and strengthen coordination on security issues.”President Macron and …
New Delhi, April 2 (IANS) Pakistan’s provincial governments have agreed to share the financial burden of a fuel subsidy announced by Prime Minister Shehbaz Sharif, as the country grapples with rising global oil prices triggered by the ongoing conflict in the Middle East, a report has said.The decision comes at a time when international petroleum prices have surged due to supply disruptions, with the conflict now entering its fifth week, according to a report by Business Recorder.While it remai…
New Delhi, April 2 (IANS) India’s systemic credit growth stood at 13.8 per cent (as of March 15), supported by liquidity buffers and a consumption‑led recovery after GST cuts, a report said on Thursday.The report from Motilal Oswal Financial Services said banks have room to further expand their credit‑to‑deposit (CD) ratios as deposit growth remained stable at 10.8 per cent while the CD ratio climbed to 83 per cent with faster credit growth.”With competition for deposits remaining intens…
Tokyo, April 2 (IANS) Japan Airlines (JAL) and All Nippon Airways (ANA) are expected to raise fuel surcharges sharply on international flights from June, due to rising oil prices amid the Middle East conflict, local media reported.Fuel surcharges on flights to Europe and North America in June and July are planned to reach 55,000 yen (about 346 U.S. dollars) for ANA, up 23,100 yen from April and May, while JAL is expected to raise its surcharge by 21,000 yen to 50,000 yen, Kyodo News reported Wed…
New Delhi, April 1 (IANS) Low-cost carrier IndiGo announced on Wednesday that it will raise fuel charges on both domestic and international flights for all new bookings made from 12.01 a.m. on April 2, due to the sharp increase in aviation fuel prices.The airline said the move follows a steep increase in jet fuel costs in the wake of supply chain disruptions due to the Middle East conflict.According to the International Air Transport Association (IATA) Jet Fuel Monitor, prices have risen by more…