New Delhi, May 2 (IANS) A slow-moving crisis is unfolding in China’s factories and manufacturing hubs which is not a cyclical correction; it is the convergence of multiple structural failures arriving simultaneously, and at the centre of it all stands the Chinese Communist Party (CCP) whose ideological rigidity and political opacity have left it unable to confront the storm it helped create, according to a new report.The report in Eurasia Review finds that the “rhythmic percussion of sewing ma…
Latest Strait of Hormuz News & Updates
Washington, May 2 (IANS) The Arabian Sea, the Strait of Hormuz, and the Red Sea form a connected maritime network that sustains critical global flows, where disruption in one part can trigger cascading effects across the entire system. The closure of the Strait of Hormuz disrupts global energy markets, instability in the Red Sea complicates the re-routing of shipping routes and intensifies pressure on alternative corridors, while maritime infiltration exposes vulnerabilities in coastal urban hub…
Washington, May 2 (IANS) President Donald Trump said that US military action against Iran was carried out despite expectations of a sharp economic shock, arguing that preventing Tehran from acquiring nuclear weapons outweighed risks to markets and oil prices.Speaking at an event with seniors in Florida, Trump said he had warned advisers that the move could rattle the economy. “I thought the stock market would go down by 25 per cent. I thought that oil prices would be at much higher than they a…
Tokyo, May 1 (IANS) Japan purchased a shipment of Russian oil on Friday, which is the first purchase since February 2022. Japan relies on West Asia for over 90 per cent of its crude oil imports, the majority of which pass through the Strait of Hormuz, and has been releasing its national oil reserves to stabilise domestic supply.The oil purchased from Russia, carried by the oil tanker Voyager, is expected to arrive at the port of Kikuma on Shikoku Island on May 3, according to the Russian state-o…
Washington, May 1 (IANS) President Donald Trump on Friday said that negotiations with the Iranians remain uncertain, warning he is “not satisfied” with current proposals while keeping both diplomacy and military action on the table. “They want to make a deal, but I’m not satisfied with it, so we’ll see what happens,” Trump told reporters before departing on Marine One.He described Iran’s leadership as fragmented and unable to reach a consensus. “They all want to make a deal, bu…
New Delhi, May 1 (IANS) More than 49.8 lakh domestic Liquefied Petroleum Gas cylinders were delivered on April 30, while fresh bookings were recorded for 41.6 lakh cylinders, as the supply of cooking gas remains normal in the country, with no dry-outs reported at retail distributorships despite the supply chain disruption due to the Middle East conflict. Online domestic Liquefied Petroleum Gas cylinder bookings have increased to 98 per cent, while authentication code-based deliveries to the regi…
Surat, May 1 (IANS) Union Petroleum and Natural Gas Minister Hardeep Singh Puri on Friday said that India has maintained stability in petrol and diesel prices for four years and 60 days despite global volatility in energy markets. He was speaking at the Vibrant Gujarat Regional Conference (VGRC) – South Gujarat in Surat, which brought together central and state ministers, diplomats and industry leaders as part of Gujarat’s regional outreach under the Vibrant Gujarat framework.Puri said the glo…
New Delhi, May 1 (IANS) The energy crisis triggered by the closure of the Strait of Hormuz amid the Middle East conflict has also brought out the contrasting styles in which India and China deal with their neighbours in an hour of need. When China offers energy, as it did with Taiwan, the offer arrives bundled with a political price tag attached to it. When India supplies fuel to Nepal or Sri Lanka, it does so through existing intergovernmental frameworks, with no conditions on sovereignty or po…
Islamabad, May 1 (IANS) Amid blockade of the Strait of Hormuz due to the Iran-US conflict, the Pakistan government has raised the price of high-speed diesel (HSD) by Pakistani Rupees (PKR) 19.39 per litre and the price of petrol by PKR 6.51 per litre for one week, local media reported on Friday. As per the notification issued by the Pakistan’s Petroleum Division on Thursday, price of HSD has been increased from PKR 380.19 to PKR 399.58 while petrol will be sold at 399.86 per litre compared to th…
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…