economic impact

London, April 11 British Prime Minister Keir Starmer spoke to Pakistani Prime Minister Shehbaz Sharif in the lead-up to the US-Iran peace talks and praised Islamabad's "critical role" in negotiating a ceasefire in West Asia.Downing Street said the leaders agreed on the urgency to ensure the...

Dhaka, April 11 – Several left-wing organizations in Bangladesh condemned the trade agreement with the United States, calling it "unequal and anti-national" and demanding its immediate cancellation, local media reported on Saturday.The deal was signed on February 9, three days before the...

Seoul, April 11 – The South Korean government announced on Saturday that cash assistance for the bottom 70% of income earners will begin being distributed later this month as part of efforts to alleviate the financial strain caused by rising oil prices.The aid will initially be provided to the...

Thoothukudi, April 9 – The match manufacturing industry in southern Tamil Nadu will remain closed from April 12 to 25, as manufacturers have announced a complete shutdown in protest against the sharp increase in raw material prices and alleged hoarding by wholesale traders.Industry...

Islamabad, April 9 Prime Minister Shehbaz Sharif has set up a special body to deal with the economic and security impacts of the West Asia conflict on the country.The National Coordination and Management Council (NCMC) was formed just hours before the two-week ceasefire was achieved between...

Washington, April 9 The International Monetary Fund, the World Bank, and the World Food Programme have said that the war in the Middle East has triggered one of the largest disruptions to global energy markets and will inevitably lead to rising food prices and food insecurity.In a joint...

New Delhi, April 8 India lost an estimated 160 billion labor hours due to heat exposure in 2021, which is equivalent to 5.4 per cent of its GDP, according to a new report.The report also revealed that heatwaves were linked to an 11.7 per cent increase in the risk of death related to...

April 06, New Delhi – As the Assam state goes to the polls this week, Prime Minister Narendra Modi held three rallies across the northeastern state on Monday.During one of the public rallies, Prime Minister Modi linked global developments to domestic concerns, referencing the ongoing conflict...

Addis Ababa, April 6 – The African Union (AU) and its partners have warned that the ongoing Middle East conflict poses a "serious risk" to African economies.In a joint policy brief, the AU, the United Nations (UN) Economic Commission for Africa, the African Development Bank, and the UN...

Kathmandu, April 5 – Citing ongoing disruptions in petroleum supplies due to the conflict in West Asia, the Nepali government has decided to implement a two-day weekend for government offices and educational institutions.Under the new arrangement, public holidays will now be observed on...

Washington, April 5 – U.S. President Donald Trump issued a warning to Iran regarding the Strait of Hormuz, threatening severe consequences in a social media post that underscored rising tensions in the region.“Tuesday will be Power Plant Day, and Bridge Day, all wrapped up in one, in Iran...

Washington, April 5 – Top US senators have urged President Donald Trump to block Chinese automakers from operating in the United States, warning of risks to national security and American jobs, according to a congressional press release.Senators Tammy Baldwin, Chuck Schumer, and Elissa Slotkin...

Brasilia, April 3 – Brazilian President Luiz Inácio Lula da Silva said on Thursday that he could not predict when the US and Israeli strikes against Iran might end, but vowed to protect Brazilians from the economic impact of the conflict.In an interview with local television station Record...

Defence Minister Rajnath Singh emphasized the importance of continuous monitoring of the West Asian situation and the need to respond in a measured way to address any potential scenario. During the second meeting of the Informal Group of Ministers in New Delhi yesterday, Mr. Singh stated that...

United Nations, April 2 UN Secretary-General Antonio Guterres delivered a "clear" message to the US, Israel, and Iran on Thursday, urging them to stop the war in West Asia, warning that the world is on the "edge of a wider war"."My message is clear. To the United States and Israel, it is high...

Kabul, April 2 – Afghanistan's Minister of Economy, Qari Din Mohammad Hanif, said on Thursday that over 27,000 Afghan families across nine provinces have been displaced due to attacks carried out by Pakistan's military, according to local media reports.During a coordination meeting with...

Islamabad, April 2 Prime Minister Shehbaz Sharif said on Thursday that Pakistan was working tirelessly to ease tensions in West Asia through diplomacy and talks, amid the ongoing conflict in the region.Sharif made the remarks at a high-level meeting, attended by Chief of Defence Forces Field...

Mumbai, April 2 Disruptions in the Strait of Hormuz have caused severe economic impact and energy instability in the region, said Indian Navy Chief Admiral D K Tripathi on Thursday, amid the ongoing conflict in West Asia.Admiral Tripathi stated that competition at sea is no longer limited to...

New Delhi, April 1 Factors such as regional conflict and the temporary closure of the Strait of Hormuz account for only a portion of the increase in fuel prices in Pakistan, according to a new report, which emphasizes that the majority reflects "structural mismanagement, delayed reforms, and...

United Nations, April 1 – The military escalation in the Middle East, now in its fifth week, may cost the region's economies between 3.7 and 6 per cent of their collective GDP, representing up to $194 billion in losses, according to a new report.The total value of the losses may exceed the...