IRAN WAR IMPACT
Trump's support in rural America slips as fuel and food prices climb, Reuters/Ipsos poll shows
In a challenging political landscape, President Trump faces an uphill battle with rural Americans, whose approval ratings are slipping. The sharp rise in the costs of essentials like fuel and groceries is weighing heavily on their minds. Farmers, in particular, are caught in a bind with rising operational expenses and falling crop values.
Charting the Global Economy: War pushes up prices, dents growth
The Iran war is fueling a global inflation wave, prompting the European Central Bank to raise interest rates for the first time in nearly three years.
India's stance on killing of 3 seafarers is strongest that can be, says Foreign Affairs Expert Robinder Sachdev
Foreign affairs expert Robinder Sachdev believes the killing of three Indian seafarers by US forces constitutes a war crime. He suggests families and MPs can seek compensation from the US government. Sachdev noted that CENTCOM admitted to firing missiles that caused the deaths.
Dollar steadies, set for weekly loss on US-Iran deal talks
The dollar steadied but eyed a weekly loss as Middle East peace talks and SpaceX's massive IPO dominated market attention. The euro edged higher after the ECB's rate hike, while traders awaited the Federal Reserve's upcoming meeting. Markets are assessing the impact of potential peace and the SpaceX offering on fund flows.
Call to extend duty cuts on critical inputs soon
India is set to decide on extending customs duty relief for critical raw material imports beyond June 30. An inter-ministerial panel will review easing import curbs on key inputs and consider fresh duties on certain locally manufactured electronics. The government is also evaluating duty cut requests from the pharmaceutical and steel sectors.
UK economy shrinks in April as Middle East war hits
Britain's economy contracted in April as the Middle East war hit growth, official data showed Friday, dealing a setback to Prime Minister Keir Starmer as he grapples with a political crisis. "We expect the economy to continue to fade as the year goes on, and particularly for as long as there is no lasting peace deal in the Middle East," he added. ajb/cw
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Iran war puts Bangladesh’s nascent industrial dreams at risk
Bangladesh's economic growth is threatened by an energy shortage, leaving new industrial facilities idle. The country faces painful impacts from the Middle East conflict, leading to increased energy costs and power rationing. Businesses are investing in renewables and exploring domestic gas, but immediate challenges persist.
OPEC again lowers 2026 global oil demand growth forecast
OPEC has reduced its 2026 oil demand growth forecast to 970,000 barrels per day. This marks a second consecutive cut. The group sees less impact from the Iran war than other agencies. However, OPEC expects demand to rebound later, raising its 2027 forecast. The war has disrupted oil routes, affecting global prices and output.
World Bank cuts global growth forecast to 2.5%; India seen growing 6.6% amid Iran war
Global economic growth is set to slow to 2.5% this year. The World Bank attributes this to the Iran war, which has driven up energy prices and created uncertainty. Developing nations face a significant slowdown. While the US economy remains resilient, other countries are experiencing harder impacts. Disruptions in energy and fertiliser trade are a major concern.
US jobless aid filings rise to 229,000 last week, remain historically low despite Iran war headwinds
America's jobless claims saw a slight increase last week, yet remain historically low. This comes despite economic challenges linked to the war in Iran. Hiring has shown improvement in recent months, with employers adding jobs. Consumer inflation has risen due to higher oil and gas prices. The Federal Reserve is expected to maintain interest rates.
Rupee drops to 95.76 vs USD on dollar demand from oil cos, nearly erases RBI-led gains
Thursday saw the Indian rupee slip against the U.S. dollar, negating earlier improvements that were supported by measures from the central bank. The currency's decline was influenced by ongoing demand from oil firms and soft indicators across Asia. Starting off weak, the rupee continued to face downward pressure throughout the trading day.
OPEC oil output lowest since at least 2000 as US blockade squeezes Iran: Report
OPEC oil output in May plummeted to its lowest in over two decades, dropping by 1.06 million barrels per day. This significant decline was primarily driven by a U.S. naval blockade impacting Iran's exports, making it impossible for OPEC+ members to meet their planned production increases.
FOREX-Dollar steadies following US strikes on Iran and ahead of inflation data
The dollar held steady as U.S. strikes on Iran followed a helicopter incident, though President Trump downplayed the event. Investors await U.S. inflation data for Federal Reserve policy clues. Meanwhile, the yen weakened as Japan's wholesale prices surged, with markets anticipating a Bank of Japan rate hike.
US stocks: S&P 500, Nasdaq fall as tech selling resumes, Trump vows to react to downed US helicopter
U.S. stocks fell Tuesday as technology shares reversed earlier gains amid renewed selling pressure. President Trump's vow to respond to Iran shooting down a U.S. helicopter added to Middle East war concerns. Investors also eyed upcoming inflation data and the highly anticipated SpaceX IPO.
Why crude oil is falling fast today: Oil prices crash below $88 as US-Iran peace deal hopes send Brent crude, WTI oil and energy markets lower
Oil prices crashed below $88 after reports said a US-Iran draft agreement gained preliminary acceptance in Washington. Brent crude fell near $91, while WTI crude dropped below $88. Markets are now pricing peace instead of conflict. The shift shows how geopolitical risk, the Strait of Hormuz, and global energy supply can move oil prices faster than production itself.
Emirates to offer incentives, safety assurances as Iran war hits travel
Emirates plans incentives beyond lower fares to attract passengers concerned about the Iran war. The airline prioritizes reliability and customer support, addressing safety and flight cancellations. Emirates seeks relaxed airspace restrictions and anticipates a return to normal operations as oil prices stabilize. This strategy aims to rebuild traveler confidence amid ongoing regional tensions.
Fitch cuts FY27 growth projection to 6.4%; US-Iran war to slow down economy
Fitch Ratings has reduced India's GDP growth projection to 6.4 percent for the current fiscal year. The US-Iran war is expected to slow economic activity in the September and December quarters. Rising prices will dampen consumer spending. For FY28, growth is expected to pick up to 6.7 percent. Fitch also anticipates the Reserve Bank of India will increase interest rates.
Indian economy, government finances, see mounting costs from Iran war
India's economy, once humming with benign inflation and steady growth, now faces mounting costs from the Iran war. As a major oil importer, disruptions to supply and elevated prices are impacting growth, inflation, and government finances. The central bank's ability to manage these shocks is increasingly difficult.
Oil Price Today (June 9): Crude oil falls 1% as Israel and Iran pause strikes. Where is liquid gold headed?
Oil prices eased in early Tuesday trading after Iran and Israel indicated a pause in hostilities, reducing immediate concerns over supply disruptions. However, both countries kept the door open for renewed military action despite agreeing to halt attacks following an appeal from U.S. President Donald Trump.
US stocks today: US market gains as semiconductor stocks rebound, Middle East tensions ease
Major Wall Street indexes saw a strong rebound. This recovery was driven by gains in chip stocks. Signs of de-escalation in Middle East tensions also provided support. The Dow Jones, S&P 500, and Nasdaq Composite all registered gains at the opening bell.
Rupee slumps as elevated crude, Treasury yields support dollar
A raft of measures aimed at supporting the currency battered by the impact of the months-long Iran war had boosted the rupee to its best day in two months on Friday.
From trickle to torrent: Hormuz reopening may trigger a global oil flood
The reopening of the Strait of Hormuz could trigger a faster-than-expected recovery in global oil supplies. With tankers already positioned near the Gulf and oil infrastructure largely preserved during the shutdown, producers are expected to ramp up output quickly once shipping resumes. Industry experts believe a significant portion of the region's production capacity could return within days or weeks, helping restore market balance and easing concerns about prolonged supply disruptions.
China's global ecommerce push stalls as Iran war lifts costs, dampens demand
The business models, based on flying $5 dresses from Chinese factories to shoppers around the world, were already under pressure after U.S. President Donald Trump introduced tariffs and axed customs waivers on low-value parcels last year. Soaring logistics costs stemming from the Middle East conflict are adding to the strain, data shows and industry insiders say, with shippers like DHL Express imposing hefty fuel surcharges.
Trump says Netanyahu will have 'no choice' but to 'accept a deal' with Iran
US President Donald Trump on Monday said that Israeli Prime Minister Benjamin Netanyahu will have "no choice" but to accept any "deal the United States negotiates with Iran."
'He doesn't call the shots': Trump overrules Netanyahu as Iran missiles hit Israel, peace deal in jeopardy
President Donald Trump asked Israel's Prime Minister Benjamin Netanyahu to refrain from retaliating against Iran's missile attacks. Trump stated that such action would jeopardize ongoing peace deal negotiations. He urged Iran to return to the negotiating table. Trump mentioned that a deal was very close to being signed. He also criticized Israel's strikes on Beirut.
PM Modi chairs key meet with Economic Advisory Council to asses impact of West Asia war
Prime Minister Narendra Modi convened with the PM-Economic Advisory Council. Discussions focused on the West Asia conflict's impact on India and the global economy. Ideas were exchanged to enhance India's economic growth amidst global instability. Reforms aimed at improving ease of living and ease of doing business were also deliberated. The meeting addressed strategies for economic resilience.
West Asia war: 100 days on, Trump and Iran remain locked in high-stakes showdown
Tensions between the US and Iran remain high as the conflict approaches 100 days. Both nations are engaged in military actions and diplomatic exchanges. Iran insists on a ceasefire in Lebanon before any deal with the US. The US has intercepted Iranian drones and seized an oil tanker. Oil prices have seen fluctuations.
Iran war, Strait of Hormuz reopening: Donald Trump is warned for tactics against Tehran by allies, critics. Here is why
Iran war: A series of strikes by the U.S. and Iran this week has raised fresh concern the ceasefire could collapse. Donald Trump on Wednesday downplayed the significance.
Satrapi's Persepolis, Sadness as a Scar
The literary world mourns the passing of Marjane Satrapi, the illustrious graphic novel artist, who has departed at age 56. Her journey ended shortly after the loss of her beloved husband. Satrapi’s evocative art not only illuminated the tapestry of Iran's tumultuous history but also echoed the profound consequences of political oppression.
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