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The Middle East crisis is sending shockwaves far beyond the region, unsettling everything from oil markets to stocks and currencies. At a time when markets around the world are already volatile, Pakistan, which is already grappling with a fragile economy, is finding itself on the brink of an economic crisis. Concerns are rising around inflation,…
The United Nations on Tuesday warned of “significant risks” to global trade and development, including higher food prices and cost-of-living pressures, if the Strait of Hormuz remains closed amid the ongoing Middle East conflict.A report by the UN Conference on Trade and Development (UNCTAD) said the military escalation following US–Israeli strikes on Iran and Tehran’s…
As tensions continue to heat up in the Middle East, concerns are raising about disruptions to one of the world’s most critical energy shipping routes, the Strait of Hormuz. Any disruption could significantly affect major oil-importing countries such as India, as the narrow Strait of Hormuz is central to global energy trade. The strait sees…
The longest federal government shutdown in US history has upended airlines’ holiday quarter expectations, grounding thousands of flights and forcing carriers to scramble for contingency plans as operations across the country remain crippled.Airlines, which had been counting on a rebound in corporate and leisure travel, are now seeing Thanksgiving bookings grow by just 1% since…
