Global oil prices fell on Monday after diplomatic talks between the United States (US) and Iran concluded in Switzerland, easing fears of a potential supply disruption in international energy markets. Brent crude dropped by $1.68, or 2.09%, to $78.89 per barrel, while US West Texas Intermediate (WTI) crude also declined ahead of the contract expiry. […]
global economy
Elon Musk edges closer to trillionaire milestone
Elon Musk has moved closer than ever to becoming the world’s first trillionaire after a dramatic surge in his wealth linked to the record-breaking public offering of SpaceX. According to recent estimates, Musk’s net worth soared by an unprecedented $274 billion in a single day, pushing his total fortune to approximately $971 billion. The sharp […]
Iran war and oil crisis dominate BRICS foreign ministers’ meeting in India
Foreign ministers of the BRICS group gathered in New Delhi on Thursday for high-level talks dominated by the ongoing conflict involving Iran and its impact on global energy markets, trade stability and economic uncertainty. Read More: Iran war dominates BRICS Delhi meeting India, which holds the rotating BRICS chair this year, hosted representatives from the expanded bloc that […]
Trump, Xi eye tariff cuts on $30bn trade
US President Donald Trump and Chinese President Xi Jinping are expected to discuss a limited tariff reduction framework covering around 30 billion dollars in bilateral trade. The proposal aims to ease trade barriers on non-sensitive goods while maintaining restrictions on sectors linked to national security. The talks are part of a broader effort to stabilise […]
China issued a strong statement for end to US unilateral sanctions
China has issued a strong statement urging the United States to immediately stop what it describes as the misuse of unilateral sanctions imposed without international legal backing, escalating diplomatic tensions between the two global powers. Read More: US sanctions Chinese refinery over Iran ties According to reports, Liu Pengyu, spokesperson for the Chinese Embassy in Washington, […]
Pakistan warns Hormuz disruption threatens global stability
Pakistan has warned that any disruption or closure of the Strait of Hormuz poses a serious threat to international peace, economic stability, and the wellbeing of developing countries. Read More: Pakistan faces economic shock risks from Hormuz disruption Speaking at the United Nations Security Council, Pakistan’s Permanent Representative Asim Iftikhar Ahmad highlighted the critical importance of secure […]
Trump threatens tariffs on UK over digital tax dispute
US President Donald Trump has threatened to impose heavy tariffs on the United Kingdom (UK) if it does not remove its digital services tax on American technology companies, escalating tensions between the two long-standing allies. Read More: UK to end tariff exemption on low-value imports In an interview with The Telegraph, Trump described the UK’s tax policy as […]
Asian markets showed mixed performance as oil rises on Iran tensions
Asian stock markets showed a mixed performance on Friday as rising geopolitical tensions between the United States and Iran kept investors cautious, while oil prices continued to climb amid ongoing uncertainty. Read More: Oil rises further above $100, most Asian stocks fall as Iran war rages A broad regional index of Asia-Pacific shares outside Japan edged up slightly, […]
Mine clearance in Strait of Hormuz could take months
Clearing naval mines from the strategically vital Strait of Hormuz could take up to six months, according to assessments shared by the Pentagon with U.S. lawmakers. The warning underscores the potential for prolonged disruption to global energy supplies amid escalating tensions with Iran. Read More: US Says Strait of Hormuz Mine Removal Could Take Six Months During […]
Kremlin urges iran us dialogue amid global tensions
The Kremlin has expressed hope that Iran and United States talks will continue despite rising regional tensions, emphasizing that diplomatic engagement remains important for global economic stability. Russian officials clarified that Moscow is not acting as a formal mediator but is prepared to assist negotiations if both sides request support during the ongoing geopolitical crisis […]