New Delhi, May 6 (IANS) More than 87.28 lakh domestic LPG cylinders were delivered against bookings of around 88.82 lakh cylinders in the last two days, with 95 per cent of the deliveries based on the authentication code sent to registered mobile numbers of consumers to prevent diversion at the distributor level, according to an update issued by the Ministry of Petroleum and Natural Gas on Wednesday.The supply of domestic LPG is normal with online bookings for cooking gas rising to 99 per cent a…
Latest Middle East crisis News & Updates
Geneva, May 2 (IANS) The Middle East crisis has generated far-reaching ripple effects well beyond the region, with growing consequences for global humanitarian supply chains and the delivery of aid, the United Nations High Commissioner for Refugees (UNHCR) spokesperson warned.Heightened insecurity and instability around key Gulf routes, including the Strait of Hormuz, have disrupted maritime traffic. Rising fuel, food and freight costs worldwide are driving up prices and delaying the delivery of…
Singapore, May 1 (IANS) Singaporean Prime Minister Lawrence Wong warned on Friday that supply disruptions stemming from the Middle East crisis are likely to persist and could worsen in the months ahead, raising the risk that some economies slip into recession.”Globally, inflation will rise, spreading from energy to food and then other essentials. Some economies may well slip into recession, and Singapore will feel the impact directly,” Wong said in a May Day Rally speech.Even if the Strait of Ho…
Seoul, April 30 (IANS) Top diplomats of South Korea and Australia held talks Thursday and agreed to enhance cooperation to ensure stable supplies of diesel and other energy resources amid global supply disruptions caused by the ongoing crisis in the Middle East.South Korea’s Foreign Minister Cho Hyun and his Australian counterpart, Penny Wong, adopted a joint statement during their meeting in Seoul, covering high-level exchanges, economic security, defence cooperation and regional security issue…
Brussels, April 29 (IANS) The European Commission on Wednesday adopted a temporary state aid framework to enable European Union (EU) member states to support sectors affected by the Middle East crisis and rising energy costs. The Middle East Crisis Temporary State Aid Framework (METSAF) will apply until December 31, 2026. It targets some of the most exposed sectors of the EU economy, including agriculture, fisheries, transport and energy-intensive industries, the Commission said in a statement.I…
Seoul, April 27 (IANS) Agriculture Minister Song Mi-ryung said on Monday the government will continue efforts to stabilise supplies of key agricultural inputs amid the ongoing Middle East crisis.Song stressed at a press conference that sufficient supplies of major agricultural goods, such as fertilisers and agricultural films, needed during the spring planting season have already been secured, reports Yonhap news agency.The agricultural ministry will swiftly execute the 377.5 billion-won (US$256…
Seoul, April 27 (IANS) The top diplomats of South Korea and Australia will hold talks later this week on a range of shared issues, including enhancing defense cooperation and joint efforts to address supply chain instability amid the Middle East crisis, the foreign ministry said Monday.Foreign Minister Cho Hyun will meet with his Australian counterpart, Penny Wong, for bilateral talks in Seoul on Thursday, the ministry said in a press release.The two sides are expected to reaffirm their commitme…
Seoul, April 26 (IANS) South Korea’s potential growth rate is projected to fall to a record low in the fourth quarter of next year, continuing a decade-long downward trend, according to the Organization for Economic Cooperation and Development (OECD).According to the latest OECD data, the country’s potential growth rate is projected to reach 1.52 percent in the October-December period of next year, a sharp decline from 1.92 percent last year and an estimated 1.71 percent this year. It is expecte…
Sydney, April 15 (IANS) Virgin Australia said on Wednesday it will reduce flights in the current quarter and flagged increased fares to offset higher jet fuel costs. In an update to the Australian Securities Exchange (ASX), Virgin Australia said that its fuel costs in the second half of 2026 are expected to be up to 40 million Australian dollars (about 28.5 million US dollars), higher than previously forecast, as a result of a surge in oil prices driven by the conflict in the Middle East, report…
Washington, April 14 (IANS) The US dollar has retained its role as a global safe-haven currency despite recent volatility, the International Monetary Fund (IMF) has said, even as central banks worldwide remain on high alert to contain inflation risks triggered by the Middle East conflict. Speaking during a group interview with reporters from India, Japan, the UAE, the Netherlands and Chile, IMF Chief Economist Pierre-Olivier Gourinchas said recent market movements indicate a return to more tr…