Economy
Brent crude slipped below 110 dollars a barrel on Thursday, pulling back from a brief spike above 120 dollars the previous day, one of the most volatile stretches on oil markets since the start of the Strait of Hormuz crisis two months ago. The sharp moves underscore a market caught between fears of......
A surge in oil prices triggered by the conflict involving Iran is driving an unprecedented acceleration in the global transition to renewable energy, according to the United Nations’ top climate official. The sharp rise in fossil fuel costs is reshaping energy strategies worldwide, as governments......
Oil prices surged to multi-month highs as Brent crude crossed the 115 dollar mark, driven by a sharp shift in global supply expectations following the United Arab Emirates’ decision to leave the OPEC alliance and rising tensions between the United States and Iran over maritime access through the......
Oil prices extended their upward momentum on Wednesday as geopolitical tensions intensified around Iran and global supply risks deepened. Traders reacted to renewed threats from United States President Donald Trump and escalating uncertainty in the Middle East, pushing crude benchmarks to multi month......
UBS reported a sharp rise in profitability for the first quarter, with net profit attributable to shareholders reaching 3 billion dollars. The figure marks an 80 percent increase compared with the same period last year and exceeds market expectations of about 2.8 billion dollars. The performance was......
The United Arab Emirates’ decision to leave OPEC has intensified scrutiny of the oil cartel’s cohesion, as analysts warn that tensions over production quotas could push other members to follow. The move highlights long-standing divisions within the group, particularly between countries investing......
China’s Politburo has pledged to strengthen national energy security as the economic fallout from the war involving Iran spreads across global markets. The commitment comes as countries from the Gulf region to Europe face rising inflation, slowing growth, and severe disruptions in energy supply......
British carrier Ascend Airways has entered liquidation as rising fuel costs linked to the war involving Iran intensify pressure across the global aviation industry. The collapse comes only three years after the airline launched operations and reflects growing financial strain on carriers facing surging......
China’s top leadership has pledged to strengthen energy security and respond systematically to external shocks as global markets face disruption from the war involving Iran. The commitment came during a Politburo meeting focused on the economy, chaired by President Xi Jinping, marking the first......
The Bank of Japan kept its policy rate unchanged at 0.75 percent in a closely divided decision, with three policymakers voting for an increase to 1 percent. The 6 to 3 split highlights rising concern within the central bank as the war in Iran drives energy prices higher and intensifies inflationary pressures.......
Two months after the outbreak of war in Iran, a global energy shock is forcing millions of households in Africa and South Asia to abandon cleaner cooking fuels and return to charcoal and firewood. The surge in fuel prices has disrupted access to liquefied petroleum gas and other modern energy sources,......
The eurozone economy slipped into contraction in April as escalating tensions involving Iran disrupted energy flows and weakened demand across the bloc. The closure of the Strait of Hormuz pushed oil prices higher, eroded consumer confidence, and drove business sentiment to its lowest level in nearly......
China’s growing demand for advanced artificial intelligence chips is expected to drive import growth beyond export expansion for the first time since 2021, marking a shift in the country’s trade dynamics. Economists now forecast imports will rise by about 5 percent in 2026, more than double......
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